Year: 2008

This Week In Securities Litigation (December 5, 2008)

This week, the SEC enforcement division secured a default judgment in an insider trading case, while the U.S. Attorney’s Office for the Southern District of New York obtained a guilty plea in a case based on obstructing another SEC insider

The Second Circuit’s “Foreign-Cubed” Decision Applied

In The City of Edinburgh Council v. Vodafone, Case No. 07-Civ. 9921 (S.D.N.Y), the court dismissed a securities fraud action for lack of subject matter jurisdiction. In its ruling, the court followed and applied the teachings of the Second Circuit’s