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© The Law Offices of Jeffrey T. Petersen 2024
site design by digitalstoryteller.io
BOFA AGREES TO $15.5 MILLION IN PENALTIES FOR MERRILL LYNCH “MINI FLASH CRASHES”
/in News /by The Law Offices of Jeff Petersen TeamBank of America agreed to pay a $12.5 million penalty to the SEC for its Merrill Lynch unit’s asserted failure to maintain effective trading controls and prevent erroneous orders that caused mini crashes, as well as agreeing to pay $3 million in fines to several exchanges, including the NYSE and NASDAQ, for the same purported failures.
SAN DIEGO ADVISER RAYMOND LUCIA ASKS FOR REHEARING ON CHALLENGE TO SEC IN-HOUSE COURTS
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamLast month, San Diego-based investment adviser Raymond Lucia suffered a rejection by a panel of the U.S. Court of Appeals for the District of Columbia Circuit of his request that the court consider his challenge to the constitutionality of the SEC’s use of in-house courts.
EXECS FOR THE “MOVIE STUDIO THAT WASN’T” CHARGED WITH FRAUD; FORMER NY GOVERNOR CHARGED WITH FAILING TO REPORT STOCK TRANSACTIONS AS DIRECTOR OF COMPANY
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamThe guess here is that former New York Governor David A. Paterson regrets ever becoming involved with Moon River Studios, a microcap company whose executives have just been charged with defrauding investors in a supposed project to construct a movie studio in Georgia.
JUDGE IN NEW TILTON CASE: WHY ARE WE HERE AGAIN?
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamLynn Tilton filed an unsuccessful suit to enjoin the SEC proceeding against her and her company, on the grounds that the appointment of the SEC administrative law judges was unconstitutional.
FEDERAL JUDGE IN GEORGIA DISMISSES CONSTITUTIONAL CHALLENGES TO SEC ACTIONS
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamDuring eighteen months of legal wrangling over the constitutionality of the SEC’s in-house courts, individual respondents challenging such proceedings had found success in the district court in Georgia, where Judge Leigh May had found that the tribunals were constitutionally defective. This ruling went against the majority trend of rulings around the country on the issue.
BOTH SIDES IN INSIDER TRADING CASE WANT PHIL MICKELSON TESTIMONY
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamThe SEC’s insider trading case against renowned sports bettor Billy Walters and former Dean Foods director Thomas Davis looks like it, features deposition testimony by pro golfer Phil Mickelson one way or the other, as both the SEC and Walters have listed Mickelson as a witness for deposition in the discovery phase of the matter.
SEC CHARGES MARIJUANA BUSINESSMEN WITH FRAUD
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamTwo men associated with Colorado marijuana company FusionPharm, Inc. were charged by the SEC with conspiracy to defraud on Friday.
SEC GETS JURY VERDICT AGAINST CITY OF MIAMI
/in News /by The Law Offices of Jeff Petersen TeamThe SEC won a jury verdict this week against the City of Miami and former budget director, Michael Boudreaux. SEC v. City of Miami, Florida, Civil Action No. 1:13-cv-22600 (S.D. Fla. Verdict Sept. 14, 2016). The charges centered on fraudulent representations pertaining to three bond offerings.