Year: 2010

THIS WEEK IN SECURITIES LITIGATION (June 4, 2010)

SEC enforcement this week brought another SOX claw back case, as well as actions alleging financial fraud and another investment fund case. DOJ dropped their appeals in the two Broadcom criminal option backdating cases which were dismissed for prosecutorial misconduct.

TWO FINANCIAL FRAUD CASES AND A SOX SECTION 304 ACTION

Based on a five-year financial fraud that began in 2002 and culminated in a $127 million 2008 restatement by Diebold, Inc., the Commission filed three actions. One settled case was filed against the company. SEC v. Diebold, Inc., Civil Action

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