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Securities Compliance Sentinel Analysis of cutting-edge securities industry issues

Category Archives: Securities Fraud

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SECOND CIRCUIT REQUIRES DIRECT COMMUNICATION FOR EXCHANGE ACT SECTION 10(b) LIABILITY

Posted in Securities Fraud, Securities Litigation

A divided U.S. Court of Appeals for the Second Circuit affirmed the dismissal of securities law antifraud claims against a “trusted” investor in the pump-and-dump scheme perpetrated by two defunct broker-dealers, A.R. Baron & Co. and Bear Stearns Cos. Inc.  See Fezzani v. Bear Stearns & Co. Inc., 2d Cir. No. 09-4414-cv, 5/7/13,  http://op.bna.com/srlr.nsf/r?Open= jkoo-97hryk. … Continue Reading

THOSE IN POWER WIN ANOTHER ONE

Posted in Insider Trading, Securities Fraud, STOCK Act

A court has held that the privacy rights of thousands of high-level federal employees could be violated if a provision of the Stop Trading on Congressional Knowledge Act (“STOCK Act”) were enforced.  The STOCK Act requires online disclosure of employees’ financial information, and it would have become effective but for the United States District Court… Continue Reading