Overselling a job opportunity to a coveted recruit might be commonplace, but firms can pay a price if managers fail to follow through on promises they make when wooing a new hire.
Bonomo v. Nova Fin. Holdings (E.D. Pa.)
MEMORANDUM - Nova Financial Holdings’ mere failure to update shareholder on all developments was not a securities violation, nor was scienter found. The duty to update does not touch on all forward-looking statements.
S.E.C. v. DeHaan (N.D. Ga.)
COMPLAINT – The S.E.C. claims that DeHaan moved client money from his investment advisory business’s account to a pass-through account (allegedly to set up new accounts for the clients), and then moved $600,000 of that money to his personal account, in violation of sections 206(1) and (2) of the Investment Advisers Act of 1940.
S.E.C. v. Cioffi (E.D.N.Y.)
MEMORANDUM - The federal district court reluctantly approved the SEC’s civil settlement with Ralph R. Cioffi and Matthew M. Tannin after their acquittal in criminal prosecution. Current law requires the settlement to take into account the gains by defendants and not the losses to victims of wire fraud and securities fraud, in this case allegedly more than a billion dollars.
Regulators approved a Dodd-Frank rule that requires stock exchanges to force the companies that list on them to meet certain compensation standards.
The ruling, by U.S. Judge Paul Crotty, could strengthen claims by insurers seeking to hold banks responsible for losses on the risky loans.
The 4th Circuit rejected Lee Farkas' claims that the trial judge had violated his Fifth Amendment rights by instructing the jury improperly.
Kanas was sued by Capital One for breach of contract in 2011 over obligations under his non-competition agreements with the bank.
Legal Home Bankruptcy Law California Legal New York Legal
Sign up now for newsletters
View archived newsletters(Only available to logged in Thomson Reuters News & Insight newsletter subscribers)
Sign into Westlaw
Have a WestlawNext Subscription? Sign into WestlawNext
Download Thomson Reuters News & Insight iPhone & iPod Application and take us with you wherever you go.
Learn More
The Lizard is precedent
FINRA 2012 exam priorities: Compliance, supervisory and ethics reminder in advance of new rules becoming effective July 9
The Know-Your-Customer and Suitability Rules are coming; are you prepared?
This interactive graphic from Reuters and Westlaw provides summaries of each case before the Court, information about the lawyers and other key players, and links to legal briefs and headlines.
At a time when the profession of lobbying is under attack, a lot of the debate turns on who is or isn't a lobbyist. Can you identify the pros in this lineup of newsmakers?
With experts in over 30,000 areas of expertise, Westlaw Round Table Group connects you with expert witnesses in all fields.
Practice productively and efficiently so you can deliver cost-effective and impressive litigation results.
© 2012 Thomson Reuters