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I just returned from attending the opening statements of one of the most important criminal trials on Wall Street in quite a long time. Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin officially started their campaign to stay out of jail for allegedly committing: securities fraud, wire fraud, […]
The first criminal trial stemming from the subprime mortgage crisis will begin on Oct. 12 as former Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin go on trial for securities fraud in federal court in Brooklyn, N.Y. The two were indicted a year ago on charges that they […]
Bank of America is under legal and political fire these days for its failure to disclose millions in bonuses paid to Merrill Lynch executives just prior to its acquiring the ailing brokerage firm. The furor has provoked a rather remarkable disclosure that defies all the commonly held principals of good […]
Eversheds “Sup-prime and global credit symposium: What will happen in 2008” by on February 7, 2008 Following the subprime mortgage market collapse in 2006 – 2007, there has been an unprecedented wave of subprime mortgage litigation, regulatory actions and congressional proposals which can fairly be characterized as nothing less than […]
If you are to believe the former Goldman Sachs leadership triad of Treasury Secretary Hank Paulson, NYSE Group CEO John Thain and John Thorton, co-head of the recently created Committee on Capital Markets Regulation, America’s competitiveness is on the brink of extinction. More recently, New York politicians – including New […]
Here is an irony worth considering: European workers benefit from some of the most protective employment rights and privileges in the western world. Yet when it comes to investing the fruits of their labour in publicly traded securities, they are decidedly among the most vulnerable. The New York Stock Exchange’s […]
Eliot Spitzer, the self-fashioned “Jimmy Stewart of Albany,” hardly needs a campaign push to coast into the governor’s mansion. With the election just months away, he leads by double digits in the polls and can’t be faulted if he already is mulling fabric samples for his new digs. So a […]
Every once in a while, in the topsy-turvy world that is our federal government, two rights can make a wrong. That’s what happened last Friday when the U.S. Court of Appeals for the District of Columbia Circuit, perhaps the most influential court on investor issues, struck down the Securities and […]
A fundamental principle of our legal system is that courts must apply uniformly the same standards in deciding cases. Unfortunately, reality often misses the mark, as many stockbrokers who pursue legal remediation to counter a past employer’s false and defamatory Form U-5 filing (the standard securities employment termination form) and […]