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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 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. 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. The Securities and Exchange Commission today announced charges against Stericycle, Inc. for violations of the Foreign Corrupt Practices Act (FCPA) arising out of bribery schemes that took place in Argentina, Brazil, and Mexico. The company has agreed to… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced that Rollins Inc. agreed to pay $8 million to settle charges that it engaged in improper accounting practices in order to boost its publicly-reported quarterly earnings per share (EPS) to meet… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced charges and an asset freeze against several Las Vegas-area individuals and companies allegedly behind a nearly half-billion dollar Ponzi scheme involving purported personal injury settlements. The… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities and Exchange Commission today announced that starting on May 14, 2022, the fee rates applicable to most securities transactions will be set at $22.90 per $1 million. Consequently, each SRO will continue to pay the Commission a rate… Have a securities law question? Call New York Securities Lawyers at 212-509-6544. The Securities Experts Roundtable is a group of securities expert witnesses that provides continuing professional education and promotes ethics and integrity among its members. It publishes a quarterly newsletter which provides commentary on securities arbitration issues, with a slighly different viewpoint from our securities litigator perspective. I have used, worked with and cross-examined many of their members, all of whom are well qualified in their particular areas of expertise. They just published their quarterly “Experts Examiner” newsletter which includes commentary and summaries of recent court cases. Chairman Pitt makes a good point. These CEOs know better. Even if it was a social meeting and nothing was disclosed, making a significant trade after what meeting just invites an SEC investigation. Or maybe they are convinced that “email traffic” will somehow prove that there was no confidential information disclosed. But the appearance of impropriety is certainly there.
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SEC Issues $6 Million Award to Five Whistleblowers
SEC Charges Senior Executive of Brazilian Company with Fraud
Former Domino’s Pizza Accountant to Pay Nearly $2 Million Penalty for Insider Trading
Twitter Board Fears Losing Their Job?
Twitter Board of Directors
Next Conspiracy Theory?
SEC Charges Stericycle with Bribery Schemes in Latin America
Atlanta-Based Pest Control Company, Former CFO Charged with Improper Earnings Management
SEC Obtains TRO and Asset Freeze against Alleged Perpetrators of nearly $450 Million Ponzi Scheme
Fee Rate Advisory #1 for Fiscal Year 2022
Experts Examiner Newsletter
Watch “Former SEC Chair on the Activision Blizzard investigation: Their actions were ‘just foolish'” on YouTube