SEC and DOJ update tackles corruption, compliance
The Justice Department (DOJ) and Securities and Exchange Commission (SEC) have been tackling issues of corruption and compliance in companies large and small.
October 02, 2013 at 03:00 AM
2 minute read
The original version of this story was published on Law.com
While the federal government may be facing a shutdown, certain governmental agencies have certainly been busy over the past few weeks. The Justice Department (DOJ) and Securities and Exchange Commission (SEC) have been tackling issues of corruption and compliance in companies large and small.
JPMorganChase has been the subject of an ongoing investigation at the hands of the DOJ. The investigation concerns bad mortgage securities the bank offered during the run up to the financial crisis. The company is reportedly in talks to pay upwards of $11 billion. This would include $4 billion in restitution to struggling homeowners and $7 billion in fines payable to the DOJ.
As for the SEC, it continues to focus on companies of all sizes. One recent case involves a hedge fund, SAC Capital, which is hoping to settle with the SEC. The SEC charged the founder of the hedge fund after he allegedly ignored signs that two traders were using illegal tips. In another case, the SEC targeted a Christian video game maker, Left Behind Games, Inc., which allegedly colluded with a business consultant to increase the value of the company and profit from the sale of stock that had little or no value.
These are just some of the topics that have been on the radar of the SEC and the DOJ. For anyone interested in learning more about the enforcement trends from these two agencies, a session at the upcoming Women, Influence and Power in Law conference will cover these topics and more.
“SEC, DOJ and Corporate Finance and Governance Regulatory Update” will take place on Oct. 3 and will feature the following speakers: Nancy Kestenbaum, partner, co-chair, White Collar Defense and Investigations Practice Group – Covington & Burling LLP; Michele Anderson, chief, Office of Mergers and Acquisitions – Securities and Exchange Commission; Antonia Chion, associate director of the Division of Enforcement – U.S. Securities and Exchange Commission; and Mythili Raman, acting assistant attorney general, Criminal Division at the United States Department of Justice.
The Women, Influence & Power in Law conference offers an opportunity for unprecedented exchange with women outside counsel. The event runs from Oct. 2-4 and is being held at the Wardman Park Hotel in Washington, D.C.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllFatal Shooting of CEO Sets Off Scramble to Reassess Executive Security
5 minute readBen & Jerry’s Accuses Corporate Parent of ‘Silencing’ Support for Palestinian Rights
3 minute readShareholder Activists Poised to Pounce in 2025. Is Your Board Ready?
Regulatory Upheaval Is Coming. How Businesses Prepare and Respond Will Separate Winners and Losers
Trending Stories
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250