This post is the eighth in a series of posts for non-lawyers, or non-securities lawyers, who might suddenly find themselves on the wrong end of a Securities and Exchange Commission document request, subpoena or call from Enforcement division staff. By Dan Portnov...
By: Sara Kropf Whistleblowers are a problem for corporations and a boon for the SEC. The SEC relies in part on whistleblowers to identify possible wrongdoing within publicly-traded companies. From the agency’s perspective, the employees and officers of a company are...
By: Sara Kropf Since January 2010, corporations facing SEC investigations had one big advantage over individuals: they could seek a deferred prosecution agreement. DPAs allow companies that committed wrongdoing to avoid prosecution, most often by undertaking...
By: Sara Kropf There have been several high-profile insider trading cases recently. I can’t do justice to the facts of all the recent cases, but here’s a quick sampling of some of the more interesting cases. 1. Use a Facebook Friend. Badin Rungruangnavarat,...
By: Sara Kropf The website for private investment company Oppenheimer & Co. says the company traces its roots back to the 1870s and a gentleman named Harris C. Fahnestock. Mr. Fahnestock was apparently an investment advisor to President Abraham Lincoln. The...
By: Sara Kropf It’s not often that someone wishes the government investigated him earlier. But Philip Falcone, the hedge fund advisor for Harbinger Capital, may be wishing exactly that. Mr. Falcone and Harbinger Capital recently agreed to settle an SEC investigation...
By: Sara Kropf The government’s insider-trading investigation into SAC Capital Advisors, a Connecticut-based hedge fund that manages in excess of $15 billion, has been the subject of many press articles. But since neither the company, nor its leader Steven A. Cohen,...
By: Sara Kropf This is the first of what will be recurring posts that offer quick summaries of similar cases. Think of them as the Kay and Peele version of my blog posts, though not nearly as funny and always safe for work. SEC v. Richard Bruce Moore: The SEC charged...
By: Sara Kropf A former corporate executive was recently sued by the SEC for insider trading based on information he learned during meetings of the World Presidents’ Organization (“WPO”). Mark Begelman, who lives in Florida, is no stranger to corporate governance. ...