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Entries Tagged as 'Securities Fraud'

SEC Brings First Action on Whistleblower Retaliation

June 25th, 2014 · No Comments

TweetThe U.S. Securities and Exchange Commission (SEC) said it filed — and promptly settled, for $2.2 milllion — its first-ever charges against a company for retaliating against a whistleblower who reported wrongdoing under the Dodd-Frank Act. The SEC charged Paradigm Capital Management Inc., a hedge fund advisory firm, with engaging in prohibited principal transactions and […]

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Tags: Dodd-Frank Act · SEC Whistleblower · Securities Fraud

The Top Ten Whistleblower Decisions of 2013: Part 1

January 14th, 2014 · No Comments

TweetFor whistleblowers and their advocates, 2013 was a whipsaw year: Big advances followed sharp letdowns in quick rotation — sometimes from the same source. (Ahem, Supreme Court and White House.) Plus there was the Snowden sideshow. But since NSA leaker Edward Snowden was never a real whistleblower — he acted outside the law and fled […]

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Tags: Department of Labor ARB · Dodd-Frank Act · False Claims Act · SEC Whistleblower · Securities Fraud · The Employment Law Group, P.C.

SEC Makes Another Whistleblower Payout — This Time at Maximum 30%

October 31st, 2013 · No Comments

TweetThe U.S. Securities and Exchange Commission (SEC) announced its second whistleblower award in a month, saying it will give the maximum 30% share of penalties in an unidentified case to a tipster who helped in the enforcement action. Coming after a huge $14 million award earlier in October, the more modest payout of more than $150,000 suggests that […]

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Tags: Dodd-Frank Act · SEC Whistleblower · Securities Fraud · Uncategorized

SEC Whistleblower Program Makes Its Bones With $14 Million Award

October 3rd, 2013 · No Comments

TweetThe U.S. Securities and Exchange Commission (SEC) awarded an unnamed tipster more than $14 million, obliterating all doubt about the resolve of the agency’s whistleblower program. The SEC didn’t identify the underlying enforcement action in either its press release or a related order, but the award’s enormous size  indicates that the U.S. government may reap as […]

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Tags: Dodd-Frank Act · Retaliation · SEC Whistleblower · Securities Fraud

Supreme Court Confirms Lower Hurdle for Investor Fraud Suits

April 15th, 2013 · No Comments

TweetThe U.S. Supreme Court made it easier for investors to gain class-action status when suing companies for securities fraud, making such lawsuits more likely in the future. In Amgen v. Connecticut Retirement Plans and Trust Funds, the Court allowed class certification to be granted on a “fraud on the market” theory without any proof that […]

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Tags: Financial Institutions Reform · Securities Fraud

Department of Justice Settles Suit with Wells Fargo for $175 Million for Homeowners to Resolve Lending Claims

July 24th, 2012 · No Comments

TweetOn July 12, 2012 the Department of Justice filed in the U.S. District Court for the District of Columbia against Wells Fargo Bank, subject to court approval, the second largest fair lending settlement in the department’s history. The Department of Justice alleges that between 2004 and 2009, Wells Fargo engaged in fair lending discrimination against […]

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Tags: Commodities Trading Fraud · Securities Fraud · Uncategorized

Federal Court in New York Orders Chicago Resident and Former Floor Broker, Kent R.E. Whitney, to Pay $600,000 for Margin Call Avoidance Scheme

June 6th, 2012 · No Comments

TweetOn May 22, 2012 the U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York issued a consent order and permanent trading and registration ban on former Chicago, Illinois floor broker Kent R.E. Whitney.  As part of an elaborate scheme to […]

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Tags: Commodities Trading Fraud · Securities Fraud