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The Securities and Exchange Commission today charged Vale S.A., a publicly traded Brazilian mining company and one of the world’s largest iron ore producers, with making false and misleading claims about the safety of its dams prior to the January 2019… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today charged Sung Kook (Bill) Hwang, the owner of family office Archegos Capital Management, LP (Archegos), with orchestrating a fraudulent scheme that resulted in billions of dollars in losses. The SEC also… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 58 soliciting entities, 11 impersonators of genuine firms, and one… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission will hold a virtual event on April 28 along with the North American Securities Administrators Association (NASAA) and the AARP to examine the latest challenges and issues affecting the senior investor community.… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced a total award of $6 million to two groups of whistleblowers who provided information and assistance in a single covered action. The first group of whistleblowers provided the SEC with key documents… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced charges against 16 defendants, located in the Bahamas, the British Virgin Islands, Bulgaria, Canada, the Cayman Islands, Monaco, Spain, Turkey, and the United Kingdom, for participating in multi-year… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced charges against Fernando Passos, the former executive vice president of finance and investor relations of Brazilian reinsurance company IRB Brasil Resseguros S.A., for allegedly planting a false… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced a court-approved settlement requiring a Michigan-based former accountant at Domino’s Pizza Inc. to pay a penalty of nearly $2 million for insider trading in the company’s stock. The SEC’s complaint… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. After years of appealing the arbitrators’ decision, UBS finally pays. The appeals of the original arbitration award increased the amount UBS had to pay by a reported $3 million. According to AdvisorHub, in his arbitration complaint filed in June 2018, the compliance officer alleged UBS defamed him on his U5 termination filing, which accused him of failing to supervise employees executing uncovered options strategy in accounts and of giving “varied responses” during the firm’s review of his activities. Musk’s offer to buy Twitter is obviously creating a stir, and the conspiracy theorists are at it again. It is so bad, my office is getting calls about it. Just today we received a call from a shareholder who wants to sue the Twitter Board of Directors for not accepting the $54 a share offer. He told me that they are not taking the offer because “they do not want to lose their jobs.” This is the level of sophistication that is underlying this “controversy.” The Board is not approving the transaction because they don’t want to lose their jobs. Really? Let’s take a look at who is on that board:
Of course, each of them could “lose their job” by not being re-elected to the Board, but this list looks like a bunch of millionaires to me, and a group that is not living on the compensation from the Twitter Board of Directors. Next up, the Board is not approving the buyout because they are worried about all of the information Musk will find when he takes over. That of course assumes there is dirt to find, that Musk could find such dirt and that Musk and a new Board would reveal that “dirt” and trash the stock price. Sort of like the comments that Musk’s attempted take over is not “hostile” because he is being very polite about it.
Category Archives: SEC Enforcement
SEC Charges Brazilian Mining Company with Misleading Investors about Safety Prior to Deadly Dam Collapse
SEC Charges Archegos and its Founder with Massive Market Manipulation Scheme
SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
SEC Announces Older Investor Roundtable Event to Be Held April 28
SEC Issues $6 Million Award to Five Whistleblowers
SEC Uncovers $194 Million Penny Stock Schemes that Spanned Three Continents
SEC Charges Senior Executive of Brazilian Company with Fraud
Former Domino’s Pizza Accountant to Pay Nearly $2 Million Penalty for Insider Trading
UBS Pays $14.1 Million Defamation Award to Compliance Officer
Termination for “varied responses” is apparently the new UBS excuse for an unwarranted termination. They “interview” the target on multiple occasions, and when the responses aren’t identical, they terminate the target for giving “varied responses.”
Not a good look for a major brokerage firm.
Our original post on the case – https://www.seclaw.com/ubs-keeps-losing-its-attempt-to-vacate-11-mln-finra-award/
Sallah Astarita & Cox, LLC is a national securities law firm which represents advisors in their employent disputes with their brokerage firms. To learn more, call them at 212-509-6544.
Twitter Board Fears Losing Their Job?
Twitter Board of Directors
Next Conspiracy Theory?