June 21, 2014
by Ann Schober
The Securities and Exchange Commission (SEC) on Friday filed a lawsuit in the US District Court for the Southern District of New York hoping to compel Congress to comply with subpoenas it received requesting information on an insider trading case the commission is investigating. The subpoenas ask ...[read more]
May 20, 2014
by Peter Snyder
Swiss bank Credit Suisse pleaded guilty Monday to a criminal charge for its role in helping Americans avoid taxes, according to a speech from US Attorney General Eric Holder. Credit Suisse will pay a $2.5 billion financial penalty to the Department of Justice (DOJ), the Internal Revenue Service ( ...[read more]
April 10, 2014
by Theresa Donovan
The US Securities and Exchange Commission (SEC) on Wednesday charged Hewlett-Packard (HP) with violating the Foreign Corrupt Practices Act (FCPA) by making improper payments to various government officials in order to obtain or keep contracts within certain countries. The US Department of Justice ( ...[read more]
August 14, 2013
by Theresa Donovan
A judge for the US District Court for the Southern District of Florida on Monday dismissed a lawsuit against the Securities Exchange Commission (SEC) regarding the agency's failure to report Allen Stanford and his Ponzi scheme. Judge Robert Scola stated that the SEC market regulator was shielded ...[read more]
April 14, 2013
by Cynthia Miley
The Securities and Exchange Commission (SEC) on Thursday charged the former partner in charge of KPMG's Pacific Southwest audit practice, Scott London, with providing insider information to his friend Bryan Shaw about KPMG clients Herbalife, Skechers and Deckers Outdoor Corporation. The SEC ...[read more]
April 10, 2013
by Michael Haggerson
The US Court of Appeals for the Second Circuit on Wednesday affirmed the dismissal of a suit by victims of the Bernie Madoff Ponzi scheme against the US Securities and Exchange Commission (SEC). The Madoff victims had argued that the SEC was liable under the Federal Tort Claims Act (FCTA) for ...[read more]
March 26, 2013
by Julie Deisher
Rengan Rajaratnam, younger brother to former Galleon Group hedge fund manager Raj Rajaratnam, on Monday pleaded not guilty to charges of conspiring with his brother to trade on non-public information concerning Clearwire Corporate and Advanced Micro Devices Incorporated in 2008. Rengan was ...[read more]
February 28, 2013
by Julia Zebley
The US Supreme Court ruled unanimously in Gabelli v. Securities and Exchange Commission that the statute of limitations under 28 USC 2462 begins tolling when the fraud occurs, not when it is discovered. Chief Justice John Roberts delivered the opinion of the court. The federal government and... ...[read more]
January 29, 2013
by Dan Taglioli
The US Court of Appeals for the Ninth Circuit on Monday refused to reinstate a lawsuit against the US Securities and Exchange Commission (SEC) by investment fraud victims of disgraced financier Bernard Madoff. The investors had sued the SEC under the waiver of sovereign immunity in the Federal ...[read more]
December 28, 2012
by Benjamin Minegar
Former Galleon Group hedge fund manager Raj Rajaratnam on Friday agreed to pay approximately USD $1.45 million to settle an ongoing civil lawsuit filed by the Securities and Exchange Commission (SEC). After the SEC charged Rajaratnam with insider trading in 2009, the US District Court for the ...[read more]

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