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New York Law Journal

In Rare Win, Hedge Fund Manager Beats SEC in Administrative Court

Unlike the headline-grabbing news release that announced charges against Donald "Jay" Lathen Jr. and Eden Arc Capital Management for a "scheme involving terminally ill" patients, the dismissal of the charges a year later by an SEC administrative law judge occurred with little celebration. At least from federal prosecutors.
7 minute read

The Legal Intelligencer

$1M Award Upheld in Dad's RICO Case Against Daughter, Son-in-Law

A federal judge has upheld a $1 million verdict in a civil Racketeer Influenced and Corrupt Organizations Act case filed by a man who claimed his daughter and son-in-law sabotaged his business by embezzling company funds and diverting them to their own company.
6 minute read

Corporate Counsel

Chief Compliance Officer Blamed for Faulty SEC Filing

It's just the latest instance of federal regulators pointing the finger at CCOs.
3 minute read

New York Law Journal

SEC Follows DOJ's Lead, Drops London Whale Case

Prosecutors said they were dismissing all charges, with prejudice, after reaching an agreement with counsel for the two defendants, Javier Martin-Artajo and Julien Grout.
3 minute read

New York Law Journal

Former Bank IT Employee at Center of Alleged $5M Insider Scheme

A former IT employee of an unnamed multinational bank is accused by federal authorities of running a $5 million insider trading scheme with six other defendants, according to parallel suits filed in Manhattan federal court Wednesday.
3 minute read

Delaware Business Court Insider

US Magistrate Greenlights Suit Over $5M in Financial Firm Investments

A Georgia-based technology and investment firm must defend claims that it duped two early stockholders into investing a combined $5 million in the venture, a Delaware magistrate judge ruled on Tuesday.
11 minute read

Daily Report Online

Feds Pursue $15M Stolen in Oil/Gas Fraud Scheme

For four years, salesmen in Tennessee and Florida boiler rooms sold prospective investors on what they claimed were oil and natural gas projects "tailored for the conservator investor," guaranteeing them 15-55 percent "safe and consistent" annual returns that would "last for decades."
8 minute read

Legaltech News

Conviction Upheld for Automated Commodities Trading Practice Known as 'Spoofing'

The U.S. Court of Appeals for the Seventh Circuit threw out a challenge that declared the federal anti-"spoofing" law unconstitutionally vague.
6 minute read

Litigation Daily

Litigator of the Week: When the Feds Say 'Uncle' in a Fraud Case

It took five years for the government to decide to halt its securities fraud prosecution of international financier Benjamin Wey. But for his attorney, Haynes and Boone partner David Siegal, the problems with the feds' case were baked-in from the start.
4 minute read

New York Law Journal

Olagues v. Icahn

Short-Swing Profits Suit's Dismissal Upheld; Premium Discount for Call Options Not Alleged
2 minute read

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