Banking & Finance
Former SeaWorld Associate GC Pleads Guilty to Insider Trading
News
The SEC said that it had also charged Paul B. Powers with insider trading based on confidential information he received.
After Years of Apologies for Customer Abuses, Wells Fargo CEO Suddenly Quits; GC Takes Over
News
Wells Fargo general counsel C. Allen Parker will take over as interim president and chief executive of the company after the abrupt departure of chief executive Tim Sloan on Thursday.
First NBC Bank’s Former Top Lawyer Charged With Defrauding New Orleans Bank
News
First NBC Bank’s former top lawyer was charged in federal court Friday with conspiracy to defraud the New Orleans bank, which failed two years ago in the biggest U.S. bank collapse since the 2008 financial crisis.
Biglaw Firm Sued for Role in $1.36B Grocery Chain Buyout
News
The complaint alleges Cravath drafted the SEC filing “to procure stockholder approval and cover up prior wrongdoing,” and in doing so, pocketed $5.5 million in fees in what amounted to “a sham sale process.”
Judge Hears Arguments for Tossing Neiman Marcus Fraud Lawsuit
News
“This is a $1 billion fraudulent transfer case,” an opposing lawyer told the state district judge.
New York Regulator Subpoenas Insurance Broker Over Trump Organization Dealings
News
The subpoena came after former Trump lawyer Michael Cohen told Congress the president inflated the value of assets to insurers, according to Reuters.
Attorneys With Indiana Roots Join Barnes & Thornburg
News
John Olivieri and Patrick Sullivan have joined Barnes & Thornburg’s Wealth Management and Corporate Finance practice groups in Indianapolis.
Elon Musk Defiant As Judge Orders Him to Explain Tesla Tweets
News
Tesla’s internal system designed to have an in-house lawyer vet Elon Musk’s tweets didn’t work in this case because his social-media minder didn’t bless the Feb. 19 post.
UBS Lawyers Played Hardball With French Enforcers, Failed Spectacularly
News
The bank has been ordered to pay more than $5 billion in the tax-evasion case — matching what was sought by prosecutors.
Biglaw Firm Hit With $500 Million Malpractice Suit
News
Plaintiffs claim that Reed Smith failed to bring a case against the rating agencies — Standard & Poors, Moody’s, and Fitch Ratings — in a timely manner, resulting in claims being dismissed.
Dentons Associate Duped into Transferring $2.5 Million to Fraudster’s Account
News
A decision in a Toronto court revealed that the associate sent the money from a property sale to a Hong Kong bank account after he received emails requesting the transfer in a business deal.
A Top 10 Verdict in Texas
News
A team of lawyers with Boyd Powers & Williamson alleging deceptive business practices against BBVA Compass Bank won a $98 million verdict for their client, a real estate developer who was working to build three luxury subdivisions in Tarrant County, Texas.
Lawyer Whose Boozy Brag Led to Insider Trades Can’t Ditch Verdict
News
Robert Schulman was a Washington-based partner with Hunton & Williams, now Hunton Andrews Kurth, working on a patent dispute involving King Pharmaceuticals when he learned of the potential merger of King and Pfizer in August 2010.
Implementing the New Revenue Recognition Standard – What Private Companies Need to Do Now
Insight
With the effective date for the new revenue standard fast approaching, many private companies have still not taken important steps towards implementation, writes Robert S. Miller, CPA, CFE, partner, Samet & Company, PC.
Subpoenas Issued to Trump Organization in Emoluments Lawsuit
News
Reuters reports the Trump Organization Inc., the president’s privately owned real estate company, and related corporate entities received the subpoenas.
Justice Department Charges 4 Over Panama Papers Tax Schemes
News
Those charged include a former investment manager, a former U.S. resident, an American accountant and a Panamanian lawyer, reports The Washington Post.
Dallas Cryptocurrency CEO Faces Charges of Scamming Investors Out of $4 Million
News
Jared Rice Sr.’s arrest followed his indictment on three counts each of securities fraud and wire fraud, according to The Dallas Morning News.
Roetzel Represents C.S.I. Enterprises, Inc. in $600 Million Acquisition by Edenred
News
Roetzel & Andress LPA represented C.S.I. Enterprises, Inc., a leading global corporate payments technology company, in its agreement with Edenred, a Malakoff, France-based company.
Tesla Loses a Senior Lawyer Just as SEC Tightens Grip
News
Bloomberg is reporting that an experienced securities lawyer has left Tesla Inc. just as the company needs one under its fraud settlement with U.S. regulators.
Ex-JPMorgan Trader Pleads Guilty in Six-Year Spoofing Plot
News
A former precious-metals trader said to have worked at JPMorgan Chase & Co. admitted he engaged in a six-year spoofing scheme that defrauded investors in futures contracts with the help of his colleagues and bosses, Bloomberg Law reports.
