DOJ filed discrimination suit against Arizona sheriff
May 10, 2013
On May 10, 2012, the Department of Justice (DOJ) filed a discrimination suit in the US District Court for the District of Arizona against the Sheriff's Office of Arizona's Maricopa County and Sheriff Joe Arpaio. The claim alleged that Sheriff Arpaio and his office unlawfully and systematically disc....... [more] 
SEC charges ex-KPMG official with insider trading
April 14, 2013
The Securities and Exchange Commission (SEC) on Thursday charged the former partner in charge of KPMG's Pacific Southwest audit practice, Scott London, with providing insider information to his friend Bryan Shaw about KPMG clients Herbalife, Skechers and Deckers Outdoor Corporation. The SEC alleges....... [more]
Federal appeals court rejects Madoff victims' suit against SEC
April 10, 2013
The US Court of Appeals for the Second Circuit on Wednesday affirmed the dismissal of a suit by victims of the Bernie Madoff Ponzi scheme against the US Securities and Exchange Commission (SEC). The Madoff victims had argued that the SEC was liable under the Federal Tort Claims Act (FCTA) for faili....... [more]
Brother of imprisoned hedge fund manager pleads not guilty to insider trading
March 26, 2013
Rengan Rajaratnam, younger brother to former Galleon Group hedge fund manager Raj Rajaratnam, on Monday pleaded not guilty to charges of conspiring with his brother to trade on non-public information concerning Clearwire Corporate and Advanced Micro Devices Incorporated in 2008. Rengan was charged....... [more]
Supreme Court rules on securities fraud statute of limitations
February 28, 2013
The US Supreme Court ruled unanimously in Gabelli v. Securities and Exchange Commission that the statute of limitations under 28 USC § 2462 begins tolling when the fraud occurs, not when it is discovered. Chief Justice John Roberts delivered the opinion of the court. The federal government and....... [more]
Federal appeals court affirms dismissal of Madoff victim lawsuit against SEC
January 29, 2013
The US Court of Appeals for the Ninth Circuit on Monday refused to reinstate a lawsuit against the US Securities and Exchange Commission (SEC) by investment fraud victims of disgraced financier Bernard Madoff. The investors had sued the SEC under the waiver of sovereign immunity in the Federal Tort....... [more]
Supreme Court hears arguments on securities fraud, Medicaid
January 9, 2013
The US Supreme Court heard oral arguments Tuesday in two cases. In Gabelli v. Securities and Exchange Commission the court heard arguments on the statute of limitations under 28 USC § 2462 and whether it begins tolling when the government can first bring an action against a penalty. The attorn....... [more]
Rajaratnam agrees to settle with the SEC for $1.45 million
December 28, 2012
Former Galleon Group hedge fund manager Raj Rajaratnam on Friday agreed to pay approximately USD $1.45 million to settle an ongoing civil lawsuit filed by the Securities and Exchange Commission (SEC). After the SEC charged Rajaratnam with insider trading in 2009, the US District Court for the South....... [more]
Israeli court reinstated ban on controversial film
December 3, 2012
On December 3, 2003, Israel's Supreme Court banned Jenin Jenin, a controversial documentary by Israeli Arab filmmaker Mohammad Bakri that depicted an April 2002 Israeli attack on Palestinian militants and civilians. Israel's Film Ratings Board banned the film, claiming that it distorted facts. After....... [more]
Madoff employee pleads guilty to falsifying records
November 9, 2012
Irwin Lipkin, a former controller of Bernard L. Madoff Investment Securities LLC, (BLMIS) pleaded guilty in a Manhattan federal court Thursday to falsifying records. The full range of charges to which Lipkin has pleaded guilty include conspiracy to commit securities fraud, to make false filings with....... [more]
Ex-Goldman Sachs director charged with insider trading
October 26, 2012
On October 26, 2011, former Goldman Sachs director Rajat Gupta was arrested for securities fraud and conspiracy to commit securities fraud. The US Securities and Exchange Commission (SEC) claimed that Gupta disclosed non-public materials from board meetings to the co-founder of the Galleon Group, Ra....... [more]
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