Blog Archives

SEC, USAO Charge IA Who Covered-up Referral Fee

The cover-up is virtually always worse than the underlying conduct. History is replete with instances where improper or even wrongful conduct was severely aggravated by an effort to conceal the conduct. That is precisely the case of former investment adviser

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SEC Charges Sham Agreements, Round-Trip Transactions

The Commission brought a financial fraud action centered on misconduct seemingly drawn from its traditional cases in the area: sham agreements and round-trip transactions, all designed to artificially inflate the share price for a sale of securities. SEC v. Campion,

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SEC, USAO Charge Film Producer With Fraud

The Commission brought a fraud action against a movie producer who is alleged to have misappropriated client funds in two complex transactions. SEC v. Bergstein, Civil Action No. 1:16-cv-08701 (S.D.N.Y. Filed Nov. 9, 2016). The U.S. Attorney’s Office for the

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The Future of Insider Trading: Salman

The future path of insider trading may well be determined by the case which will be argued before the Supreme Court today, Wednesday, October 5, 2016. The case is U.S. v. Salman, No. 15-628, a tipping case from the Ninth

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SEC-USAO Charge Former Fund Principal With Fraud

A former managing principal of Blackstone Group, and a partner at Park Hill Group which raises capital for private equity, was charged by the SEC and Manhattan U.S. Attorney’s Office with fraud. The charges are based on claims that he

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SEC-USAO Bring Insider Trading Case That is “Newman-Proof”

When anyone discusses insider trading these days Newman invariably becomes a key topic. Prosecutors decry the decision and its tipping standard. Little doubt why. It has been offered as a defense in innumerable cases. A number of insider trading convictions

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This Week In Securities Litigation (Week ending Dec. 18, 2015)

The Commission closed out the week before the holidays with a joint press conference with the Manhattan U.S. Attorney. The U.S. Attorney and the Director of Enforcement announced actions against former hedge fund manager and pharmaceutical company founder Martin Shkreli.

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SEC Settles Another Insider Trading Case Tied To Brocade Deal

The acquisition of Foundry Networks, Inc., a networking hardware company, by Brocade Communications System, Inc., a technology company specializing in data and storage networking products, announced on July 21, 2008, has spawned two enforcement actions by the Commission and two

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SEC, USAO File Parallel Insider Trading Charges

The SEC brought an insider trading case against a senior corporate official and a chain of tippes that starts with his brother-in-law broker who then tipped his friend, another broker. Others, not named as defendants, were also tipped. SEC v.

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