From the category archives:

Securities Law

Tweet- From LexisNexis® Mealey’s™ Daily Legal News. The Second Circuit U.S. Court of Appeals on June 14 agreed to hear an appeal filed by the remaining defendants in a securities class action lawsuit that alleges that defendants concealed that investor funds were being placed in accounts that were part of Bernard L. Madoff’s massive Ponzi […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. Lead plaintiffs in a securities class action lawsuit against Fannie Mae and accounting firm KPMG LLP on May 7 asked a federal judge to approve a $ 153 million settlement that would end the lawsuit, which was brought in 2004 (In re: Fannie Mae Securities Litigation, No. 04-01639, […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. A New Hampshire federal judge on March 28 granted a motion filed by an outdoor gear company and others to dismiss a securities class action filed against them, finding that plaintiffs failed to allege specific facts showing that the company made false statements about its earnings (The City […]

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TweetMerck and Co. Inc. will pay $ 688 million to settle two securities class action lawsuits filed in New Jersey federal court alleging that the drug maker and others failed to disclose adverse results of a clinical trial for two cholesterol drugs Merck was developing, according to a Merck press release issued Feb. 14 (In Re: […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. Four Bernard L. Madoff Investment Securities LLC feeder funds and several of their current and former owners and officers have agreed to pay nearly $ 220 million to settle claims that they breached their fiduciary duties under the Employee Retirement Income Security Act by “recommending, making and maintaining […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. A federal judge in New York on Nov. 9 approved more than $ 294 million in settlements with The Bears Stearns Cos. Inc. and certain of its former officers and directors, and the financial giant’s former outside auditor, ruling that the settlements are procedurally and substantively fair (In […]

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TweetRecently a New Jersey District Court sentenced an attorney to the longest prison sentence for insider trading-twelve years in a case entitled U.S. v. Bauer, 11-cr-858, U.S. District Court, District of New Jersey, Newark. The attorney in question is Matthew Kluger. Kluger grew up in a world of relative privilege-he is the son of Richard […]

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TweetOn February 1, 2012, the U.S. Government charged three former traders at Credit Suisse AG with artificially inflating the value of mortgage bonds as the housing market collapsed. The charges represent a rare criminal prosecution of Wall Street executives in connection with their conduct during the financial crisis.  According to federal prosecutors, the traders, who are located […]

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Tweet The Securities and Exchange Commission (“SEC”) recently announced a change in its settlement policy. It will now demand that defendants admit wrongdoing if they have already made such an admission in a separate criminal proceeding. The SEC has finally rescinded the policy allowing defendants to use the non-committal “neither admit nor deny” language in […]

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Tweet A federal district court judge dealt another blow to investors who lost money to Ponzi schemer Bernie Madoff late last week. The judge ruled that investors in feeder funds, i.e. “third-party investors”, could not recover their money from Bernard L. Madoff Investment Securities (“Madoff”).  The investors were not protected because instead of investing their money directly […]

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