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Tag: Securities and Exchange Commission

Ex-Millennium Fund Manager Balboa’s Bond Fraud Trial Starts

(Bloomberg) Ex-Millennium Global Investments Ltd. portfolio manager Michael Balboa’s securities-fraud trial, in which he is accused of participating in a scheme involving Nigerian sovereign debt, began in federal court in New York. Balboa, who worked at Millennium from December 2006 to October 2008, was named in an indictment unsealed in March. He is charged with…
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Ex-SEC investigator settles whistleblower retaliation lawsuit

WASHINGTON (Reuters) – A former internal investigator at the Securities and Exchange Commission who claimed he was fired for trying to blow the whistle on possible misconduct has reached a $580,000 settlement with the SEC, his lawyer said on Monday. David Weber, the SEC’s former assistant inspector general, filed a lawsuit against the agency last…
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China Natural Gas, chairman settle SEC fraud lawsuit

NEW YORK (Reuters) – China Natural Gas Inc and its chairman have agreed to settle a lawsuit by the U.S. Securities and Exchange Commission accusing them of hiding loans intended to benefit the chairman’s family. A federal judge in New York signed off on a final judgment against China Natural Gas on Thursday in which…
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SEC wins reprieve in case vs Goldman’s Tourre, despite Morrison

NEW YORK (Reuters) – A decision this week in a civil fraud case against former Goldman Sachs Group Inc vice president Fabrice Tourre has given the U.S. Securities and Exchange Commission new ammunition to challenge foreign securities activity. U.S. District Judge Katherine Forrest on Tuesday said the SEC may sue Tourre for making an alleged…
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SEC halts trading in dozens of stocks

(MoneyWatch) The Securities and Exchange Commission on Monday halted trading in the shares of 61 companies, part of a crackdown in so-called empty shell companies. The SEC’s “Operation Shell Expel” is intended to tackle manipulation of small, publicly traded companies that are dormant and thus become ripe for fraud. Because such firms are so thinly…
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The SEC’s Wells Process Turns 40

Law360 published an article written by Thomas A. Sporkin and ECI Board member, Dr. Bradley Bondi. The article, The SEC’s Wells Process Turns 40, provides an overview of the U.S. Securities and Exchange Commission (SEC) adoption of the “Wells process” in September 1972. To date, the Wells process has served as a model for other…
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Ruling on Disclosure of Wells Notices Under Federal Securities Laws

The New York Law Journal published an article written by ECI board member, Dr. Bradley Bondi and co-authored by Martin L. Seidel, partners at Cadwalader, Wickersham & Taft, along with Nathan Bull, an associate at the firm. In the article, Ruling on Disclosure of Wells Notices under Federal Securities Laws, the authors write that the…
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Mandatory Arbitration as Substitute for Private Securities Class Actions

ECI board member, Dr. Bradley Bondi, along with co-partners at Cadwalader, Wickersham & Taft, Jason M. Halper and Martin L. Seidel, published an article on The New York Law Journal. In the article, Mandatory Arbitration as Substitute for Private Securities Class Actions, the authors write that over the last decade, there have been more than…
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Best Law Firm Writers Announced by the Burton Awards

ECI board member, Dr. Bradley Bondi, was recognized by the Burton Awards for Legal Achievement, as one of the thirty-five best law firm writers of 2012. The Burton Awards for Legal Achievement is a program that runs in association with the Library of Congress.  The winners are chosen from the entries submitted by the nation’s…
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For Audit Committees, the When and Why of Independent Investigations

The National Association of Corporate Directors (NACD) featured the article, For Audit Committees, the When and Why of Independent Investigations, written by ECI’s Chairperson, Martin Biegelman and co-authored by Bradley Bondi of Cadwalader, Wickersham & Taft. The authors provided insights on the considerations audit committees should take before deciding to begin an independent investigation.