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Displaying 61-70 out of 70 results for "Puerto Ricof=Litigation Summary".

SEC Litigation Releases: Week in Review - February 15th, 2013

(Feb 2013)

Court Enters Final Judgments Against Former Wall Street Banker, Downstream Russian Trader and Trader's Wife in Insider Trading Scheme
February 13, 2013, (Litigation Release No. 22617)
A final judgment has been entered against Alexander Vorobiev and his wife, "relief defendant Tatiana Vorobieva," for their involvement in an insider trading scheme that resulted in over $1 million in illegal profits. Vorobiev traded using insider information regarding "numerous health care-related acquisitions,...

SEC Litigation Releases: Week in Review - February 8th, 2013

(Feb 2013)

Steven Harrold Settles SEC Insider Trading Charges
February 6, 2013, (Litigation Release No. 22613)
Afinal judgment was entered against Steven Harrold, former executive at a Coca-Cola bottling company, for his alleged insider trading "based on confidential information he learned on the job" concerning Coca-Cola Enterprises Inc.'s planned acquisition of The Coca-Cola Company's " bottling operations in Norway and Sweden. "The judgment permanently enjoins Harrold from future violations of various...

Oppenheimer to Pay US Airways $30 Million over Auction Rate Securities

(Feb 2013)

Oppenheimer & Co. has been ordered by a FINRA arbitration panel to pay US Airways $30 million in damages related to the purchase of several series of structured auction rate securities (ARS). The story is being covered by Caitlin Nish at the Wall Street Journal, Bill Singer at Forbes, and Keith Goldberg at Law360. You can find the US Airways v Oppenheimer award on our website.

ARS are debt instruments that paid interest rates that reflect the clearing prices of regular auctions. Oppenheimer...

SEC Litigation Releases: Week in Review -February 1st, 2013

(Feb 2013)

SEC Charges Five Former Executives of Cay Clubs Resorts and Marinas in $300 Million Real Estate Investment Fraud
January 30, 2013, (Litigation Release No. 22607)
According to the complaint (opens to PDF), Cay Clubs Resorts and Marinas' former executives, Fred Davis Clark, Jr., Cristal R. Coleman, David W. Schwarz, Barry J. Graham, and Ricky Lynn Stokes conducted "an offering fraud and Ponzi scheme that raised more than $300 million from nearly 1,400 investors nationwide." Allegedly, from 2004...

SEC Litigation Releases: Week in Review - January 25th, 2013

(Jan 2013)

Randy M. Cho Sentenced to Prison Term of 12 Years in Criminal Action
January 24, 2013, (Litigation Release No. 22601)
Randy M. Cho was sentenced in a criminal action to 12 years in federal prison on charges of "perpetrating an investment scheme between 2001 and October 2009, which resulted in almost $8 million in losses from 57 investors." In addition to the prison sentence, Cho has been ordered to pay restitution of almost $8 million. In 2009, the SEC permanently enjoined Cho from violating...

FINRA Dispute Resolution Statistics 2012

(Jan 2013)

Last week, we covered NERA's analysis of SEC settlements during FY2012. This week, we're taking a look at FINRA's recent release of their dispute resolution summary statistics. FINRA arbitration is a common way for investors to pursue restitution for damage caused by fraud, negligence, or other fiduciary breaches. FINRA provides a detailed summary of the arbitration process and claims can be filed either online or by mail.

Through December of this year, FINRA reports that the number of new...

SEC Litigation Releases: Week in Review - January 18th, 2013

(Jan 2013)

SEC Charges Georgia Resident with Insider Trading
January 17, 2013, (Litigation Release No. 22596)
According to the complaint (opens to PDF), John M. Darden III traded with non-public information regarding the merger between Southwest Airlines Company and AirTran Holdings, Inc. Darden, who gained over $150,000 in profits from the illicit trading, agreed to a final judgment that provides permanent injunctive relief and orders him to pay over $325,000 in disgorgement, pre-judgment interest, and...

SEC Litigation Releases: Week in Review - January 11th, 2013

(Jan 2013)

Court Orders New York-Based Hedge Fund Manager and Firm to Pay Nearly $5 Million in Disgorgement and Penalties
January 9, 2013, (Litigation Release No. 22588)
Final judgments were entered against hedge fund manager Chetan Kapur and his firm ThinkStrategy Capital Management for allegedly overstating the performance of their ThinkStrategy Capital Fund, "inflat[ing] the firm's assets, exaggerat[ing] the firm's longevity and performance history, and misrepresent[ing] the size and credentials of...

Structured Products: 2012 Year-End Market Review

(Jan 2013)

Last year, we covered Bloomberg's summary of the 2011 structured product market by noting that almost "$45.5 billion worth of SEC registered structured products were sold in the US in 2011, down only slightly from $49.4 billion in 2010." In 2012, 7,909 notes totaling just over $39 billion worth of SEC registered structured products were sold in the US -- a decrease of nearly 15%.

Interest rate products continued their decline in popularity with a decrease of almost 30% from 2011 to 2012....

SEC Litigation Releases: Week in Review - January 4th, 2013

(Jan 2013)

SEC Charges California Company and CEO with Defrauding Investors in Nevada Gold Mining Venture
January 3, 2013, (Litigation Release No. 22585)
According to the complaint (opens to PDF), Nekekim Corporation and its CEO, Kenneth Carlton, "induced hundreds of investors to pour $16 million into a fruitless gold mining venture." From 2001 to 2011, the defendants attracted investors claiming that a physicist (who in reality "had no scientific training") helped "develop a confidential gold extraction...

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