Insider Trading

Insider Trading and Financial Fraud Cases Coming to Connecticut

Submitted by Steven Meyerowitz on Thu, 01/26/2012 - 6:14am

The U.S. Attorney in Connecticut, David Fein, says he is targeting and about to bring a new round of insider trading charges and similar financial fraud cases.  We spoke about that with Bill Kelleher, a partner in the Stamford, Connecticut, office of Robinson & Cole LLP, and a member of the firm’s Business Litigation and White-Collar Defense and Corporate Compliance Practice Groups.

‘Ban Insider Trading By Congress,’ Obama Says In State Of The Union

Submitted by Steven Meyerowitz on Wed, 01/25/2012 - 6:27am

Not to be lost in President Obama’s State of the Union address was his take on the insider trading bill (the so-called “STOCKAct”) pending in Congress that would bar insider trading by members of Congress and their staffs. 

An SEC First: Diamondback Capital’s Settlement Does Not Contain ‘Neither Admits Nor Denies’ Language

Submitted by Steven Meyerowitz on Tue, 01/24/2012 - 6:39am

After Manhattan Federal District Court Judge Jed Rakoff rejected the SEC’s proposed $285 million CDO settlement with Citigroup and its typical (for the SEC) provision that Citigroup neither admitted nor denied the SEC’s allegations, the SEC decided to alter its practice –

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    • ‘Criminal Club’ Charged In Largest Insider Trading Scheme Involving A Single Stock To Date

    Submitted by Steven Meyerowitz on Thu, 01/19/2012 - 5:36am

    When you’re U.S. Attorney Preet Bharara and you already have obtained 50 insider trading convictions in the past couple of years, and you already have convicted billionaire Raj Rajaratnam of insider trading and saw him sentenced to a record prison term, and you have wiretapped and used recordings in financial fraud cases as never before, where do you go from there?

    Raj Rajaratnam’s Prosecutor, Jonathan Streeter, Joins Dechert

    Submitted by Steven Meyerowitz on Tue, 01/17/2012 - 7:47am

    Now that the insider trading trial of Raj Rajaratnam is over, the trial counsel for the government is moving on. The lawyer, Jonathan R. Streeter, will join the law firm Dechert LLP in February as a litigation partner. 

    Rick Perry Hates Congressional Insider Trading So Much, He Wants Them To Go To Jail

    Submitted by Steven Meyerowitz on Fri, 01/06/2012 - 11:31am

    You can add Rick Perry to the list of people who believe that the STOCK Act should be passed to bar insider trading by members of Congress. In fact, the Texas governor,

    Madoff, Mortgage Foreclosures, Insider Trading And More: The Year’s Top 10 Financial Fraud Law Issues

    Submitted by Steven Meyerowitz on Tue, 01/03/2012 - 9:50am

    Over the past few weeks, we have listed and explained the Top 10 Financial Fraud Law issues of the year. The winners (so to speak) range from Bernard Madoff (still of concern three years after his fall), insider trading, and the Foreign Corrupt Practices Act to the Consumer Financial Protection Bureau, mortgage foreclosures, and the use of federal and state prosecutors to attack financial fraud. 

    Insider Trading Makes The Year’s Top 10 In Financial Fraud Law

    Submitted by Steven Meyerowitz on Mon, 12/19/2011 - 9:56am

    When you begin to think about financial fraud, your mind quickly turns to insider trading. It is certainly one area (and maybe the one area) where federal prosecutors are focusing a great deal of attention. 

    #STOCKAct Takes Step Forward To Bar Congressional Insider Trading

    Submitted by Steven Meyerowitz on Fri, 12/16/2011 - 12:10pm

    A small but perhaps significant step forward has taken place in Congress with respect to the efforts to bar insider trading by members of Congress and their staffs. The STOCK Act passed the Senate Homeland Security and Governmental Affairs Committee, by a vote of 7-2. 

    Big Firm Lawyer Guilty In $37 Million Insider Trading Scheme

    Submitted by Steven Meyerowitz on Thu, 12/15/2011 - 5:56am

    It is, of course, very big news when a billionaire hedge fund founder (i.e., Raj Rajaratnam) gets convicted of insider trading.

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