The Law of the Financial Markets from Top Securities Lawyers
Monday, May 13, 2024
The Securities and Exchange Commission announced charges against three Florida residents for trading in advance of market moving announcements involving DSW Inc., Rite Aid Corporation, and an attempt to acquire Aphria Inc., a Canadian cannabis-related business. According to the SEC’s complaint, David Schottenstein of Surfside, Fla. repeatedly obtained inside information […]
The SEC has charged Medallion Financial Corp., a Delaware company headquartered in New York, NY, and its President and Chief Operating Officer, Andrew Murstein of New York, NY, with illegally engaging in two schemes in an effort to reverse the company’s plummeting stock price. According to the SEC’s complaint, Medallion’s […]
You cannot trade on material, non-public information you obtained as a result of your employment or as an outside consultant. Period, end discussion. By Mark Astarita While the SEC‘s complaints are simply allegations, which need to be proven in court, the fact that an employee is charged with insider trading […]
The SEC has announced that Nikola Corporation, a publicly traded company created through a special purpose acquisition company transaction, has agreed to pay $125 million to settle charges that it defrauded investors by misleading them about its products, technical advancements, and commercial prospects. The settlement follows the SEC’s litigated action […]
The Securities and Exchange Commission today announced fraud charges against five Russian nationals for engaging in a multi-year scheme to profit from stolen corporate earnings announcements obtained by hacking into the systems of two U.S.-based filing… Read the Full Press Release Have a securities law question? Call New York Securities […]
The Securities and Exchange Commission today charged registered investment adviser Global Infrastructure Management, LLC for failing to properly offset management fees and for making misleading statements about the fees and expenses it charged. Global… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at […]
We are certain that Judge Grimes will be an excellent Chief ALJ, but we found it interesting, given the fact that the SEC ALJs rule in favor of the SEC in almost all of their cases that the SEC thought that including the word “impartial” in the title “SEC impartial Office […]
The SEC announced charges against J.P. Morgan Securities LLC (JPMS), a broker-dealer subsidiary of JPMorgan Chase & Co., for widespread and longstanding failures by the firm and its employees to maintain and preserve written communications. JPMS admitted the facts set forth in the SEC’s order and acknowledged that its conduct […]
The Securities and Exchange Commission announced today that Wedbush Securities Inc., a California-based broker-dealer, has agreed to pay more than $1.2 million to settle charges arising from the unlawful unregistered distribution of nearly 100 million shares of more than 50 different low-priced microcap companies, and from Wedbush’s failure to file […]
What happened to Wells Fargo? Fine after fine. Our colleagues from Wachovia who are still there must be shaking their heads. This fine is for the same violation that Wells Fargo was fined for in 2016. FINRA Fines Wells Fargo $2.25M Over Handling of Client Data
