David L Axelrod

June 18, 2021 | The Legal Intelligencer

To many this will come as a complete surprise, but there is no federal law that explicitly outlaws insider trading. Rather, for decades the SEC and the Department of Justice, with the endorsement of federal judges, have used the general securities fraud statutes to patch together a complex and problematic insider trading common law.

By David L. Axelrod and Hannah L. Welsh

8 minute read

July 29, 2020 | The Legal Intelligencer

In a recent opinion, the U.S. Supreme Court held the Securities and Exchange Commission (SEC) has the authority under Section 78u(d)(5) to seek disgorgement as an equitable remedy as long as the amount of disgorgement does not exceed a wrongdoer's net profits and is awarded for victims. In the underlying action, the SEC brought a civil case against the petitioners.

By Timothy D. Katsiff, David L. Axelrod and Brittany M. Giusini-Tsoflias

7 minute read

July 08, 2020 | The Legal Intelligencer

In this final installment, we will look at the CARES Act's oversight provisions and the ways in which government agencies will likely collaborate to investigate and prosecute those who attempt to take advantage of the act's funding provisions.

By Terence M. Grugan, David L. Axelrod and Emilia McKee Vassallo

11 minute read

May 26, 2020 | The Legal Intelligencer

In Part I of our series, we analyzed the spending features of the COVID-19 stimulus packages and introduced the Troubled Asset Relief Program (TARP)…

By Terence M. Grugan, David L. Axelrod and Emilia McKee Vassallo

10 minute read

April 23, 2020 | The Legal Intelligencer

This article—the first of a series on this topic—discusses the payment mechanisms in the COVID-19 pandemic stimulus package and sets the stage for how these programs could be abused.

By Terence M. Grugan, David L. Axelrod, Emilia McKee Vassallo and Izabella Babchinetskaya

9 minute read

February 04, 2019 | The Legal Intelligencer

In one of Congress's last acts before the government shutdown, it passed, and the president signed, the First Step Act of 2018 (the act). The act represents progress toward reducing the rate of mass incarceration and ameliorating the extensive personal and societal problems it has caused.

By David L. Axelrod and Terence M. Grugan

8 minute read

March 07, 2018 | The Legal Intelligencer

Last week the U.S. Supreme Court significantly narrowed the definition of a “whistleblower” under Dodd-Frank.

By David L. Axelrod and Priya Roy

8 minute read