Blog Archives

This Week In Securities Litigation (Week ending March 17, 2017)

The Commission brought two insider trading cases this week, one which is being litigated and another that settled prior to filing. The agency also brought a financial fraud action against five firm executives who essentially devised a series of schemes

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This Week In Securities Litigation (Week ending June 17, 2016)

Insider trading was a key focus this week. Two actions were brought based on information secured from the FDA and CMS by former employees who were employed by and investment adviser. Another case centered on tips by a corporate insider

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This Week In Securities Litigation (Week ending June 3, 2016)

The Second Circuit rejected a challenge to the SEC’s venue selection decisions, concluding that the district court did not have jurisdiction to hear an issue regarding the Appointments Clause. This is the third circuit court to conclude that any such

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This Week In Securities Litigation (Week ending April 15, 2016)

Budget hearings were a focus this week as the Chair of the SEC and Chairman of the CFTC visited Capitol Hill. Both sought substantial increases, requesting more money for technology, inspections and enforcement. While the administration supports increases whether election

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This Week In Securities Litigation (Week ending Dec. 11, 2015)

The SEC prevailed in one court case this week but lost in another. In an investment fund fraud action the agency won at trial. In the First Circuit, however, it lost in an appeal of the long running action against

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SEC Files Eight More Actions Tied to EB-5 Program

The EB-5 program was designed by Congress to stimulate job creation and capital investment by foreign investors. In return for an initial investment of $1 million in a new commercial enterprise that creates or preserves at least 10 full time

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This Week In Securities Litigation (Week ending August 28, 2015)

The Sixth Circuit last week concluded that Morrison, which held that Section 10(b) does not have extraterritorial reach, is inapplicable to Advisers Act Section 10(b). The DC Circuit, on rehearing, reaffirmed its prior holding that a portion of the Commission’s

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SEC Files Another Fraud Action Based on EB-5 Program

The EB-5 program is supposed to provide a path to a permanent green card. The program was designed to create that path for foreign national who invest specified sums in the U.S. that create jobs – a win win for

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SEC Files Offering Fraud Charges Based in Part on EB-5 Program

The EB-5 program, which promises a path to a permanent green card for those who can invest in this country and create jobs, has been involved in a number of SEC enforcement actions, most recently involving unregistered broker charges. In

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This Week In Securities Litigation (The week ending June 26, 2015)

The SEC brought another custody rule action this week – against the outside auditors alleging that one examination was insufficient and the others incomplete thereby causing the client to violate the surprise audit requirement of the rule. failing the surprise

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The SEC Brings Another Case Centered on the EB-5 Immigration Program

The government’s EB-5 program is supposed to be a win win for everyone. For immigrants seeking admission to the United States it is supposed to provide a path to citizenship if the requirements, centered on the investment of $500,000 or

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