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Securities Law

1430 ABA Journal Securities Law articles.

Scrushy Makes Deal with SEC, But Can He Pay?

The former CEO of HealthSouth will pay $81 million to resolve a lawsuit filed by the Securities and Exchange Commission. Richard M. Scrushy will forfeit $77.5 million and pay a $3.5 million fine, but neither admits nor denies allegations that he was part of accounting fraud, according to the New…

Apr 24, 2007 2:23 PM CDT

SEC Options Backdating Suit for Ex-Apple GC?

A former general counsel for Apple Inc. may be sued by the Securities and Exchange Commission for her role in allegedly backdating two stock options grants to company executives, according to her counsel, the Bloomberg news service reports. The SEC will likely sue Nancy Heinen this week, according to her…

Apr 23, 2007 5:53 PM CDT

Lawyer Testifies About Advice in Media Execs’ Trial

A lawyer from Cravath, Swain and Moore testified yesterday that he warned that payments to media executives at Hollinger International needed to be disclosed to the Securities and Exchange Commission. Paul Saunders said he gave the warning to Peter Atkinson, then a vice president, in May 2001, according to Chicago…

Apr 20, 2007 5:02 PM CDT

Nonparty Spoliation Alleged in Oracle Case

A discovery dispute in a securities fraud suit filed against Oracle Corp. raises the issue: Did the software company have an obligation to warn nonparties to preserve evidence? British author Matthew Symonds interviewed Oracle CEO Larry Ellison for a book he wrote. Symonds first said a computer virus destroyed his…

Apr 18, 2007 12:53 PM CDT

Motorola Agrees to $190 Million Settlement

Motorola Inc. has agreed to a $190 million settlement in a class action lawsuit filed by shareholders. The suit had claimed the communications company failed to disclose $2.7 billion in loans to two Turkish telecom companies, the New Jersey Law Journal reports. It also claimed Motorola, based in suburban Chicago,…

Apr 18, 2007 12:31 PM CDT

SEC Study: Don’t Litigate, Arbitrate Stock Cases

The Securities and Exchange Commission is studying a sure-to-be controversial plan to encourage – or even require – parties in securities litigation to arbitrate rather than litigate their cases, potentially limiting damages. The potential change in policy is still at the discussion stage, and may never be enacted, reports the…

Apr 16, 2007 7:56 PM CDT

‘European Model’: Huge Settlement, But No Suit

A settlement of more than $350 million with aggrieved shareholders announced this week by Royal Dutch Shell PLC provides a “European model” for a kinder, gentler approach to such situations than traditional U.S. securities litigation, according to lawyers for both sides. The parties – all European investors who bought their…

Apr 13, 2007 6:27 PM CDT

Suit Proceeds Against NYSE and its CEO

A New York judge has refused to dismiss a lawsuit against the New York Stock Exchange and its CEO. Justice Charles E. Ramos ruled the suit can proceed against CEO John Thain for fraud and breach of fiduciary duty, and the exchange can be held vicariously liable for Thain’s actions,…

Apr 13, 2007 12:28 PM CDT

Big Settlement Exports U.S.-Style Litigation

In a legal milestone that could portend big bucks for plaintiff lawyers in future cases – and a steady stream of defense fees for those on the other side of the table – American trial lawyers have settled for more than $350 million a European securities fraud case. The settlement,…

Apr 11, 2007 10:13 PM CDT

Supporting Actor Role

SEC Wants a Larger Cast of Characters in Securities Fraud Suits

Jul 10, 2006 5:54 PM CDT

Back in Business

After Enron and Sarbanes-Oxley, an Aggressive SEC Cracked Down. But a Favorable Political Environment Finds Corporations Battling Back.

May 28, 2005 11:40 AM CDT

More than Just Peanuts

High Court’s Pesticide, Stock Market Cases Test Whether Federal Regulations Bar Suits

Jan 25, 2005 10:42 AM CST

As Worldcom Turns, Cases Pile Up

A Growing Number of Securities Lawsuits Invite More Parallel Proceeding

Sep 12, 2004 4:34 PM CDT

A Tell-All Approach

Opening Corporate Investigations Fosters Credibility With the Feds

May 1, 2004 9:18 PM CDT

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