Daily Litigation News
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December 31, 2008
SEC Enforcement Actions
Law Firm Memos
Selected Federal Appellate Decisions
SEC Investigation Disclosures
CFTC Enforcement Actions
PCAOB Enforcement and Inspection Releases
SEC Investors Claims Funds
12/30/2008 |
Rica Foods, Inc. (Company) | |
Releases: Proceedings Instituted - Commission |
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| Violations: Failure to Make Required Filings | ||
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12/30/2008 |
Nature's Sunshine Products, Inc. (Company) | |
Releases: Decision - Commission |
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| Violations: Failure to Make Required Filings | ||
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12/30/2008 |
George L. Theodule (Owner/Principal) | |
Releases: Proceedings Instituted - Civil |
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| Violations: Disclosure/Representation Violations; Misappropriation/Improper Compensation; Sale of Securities Violations | ||
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12/30/2008 |
A Creative Capital Concept$, LLC (Company) | |
Releases: Proceedings Instituted - Civil |
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| Violations: Disclosure/Representation Violations; Sale of Securities Violations | ||
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12/30/2008 |
Creative Capital Consortium, LLC (Company) | |
Releases: Proceedings Instituted - Civil |
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| Violations: Disclosure/Representation Violations; Sale of Securities Violations | ||
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| Securities Mosaic Website customers: Search SEC Enforcement Actions | ||
| 12/30/2008 | Entwistle & Cappucci | 'Staehr' Increases Burden of Proof To Place Investor on Inquiry Notice |
| 12/30/2008 | Milbank, Tweed, Hadley & McCloy | NY State Court Decision Relating to Bear Stearns takeover Should Provide Comfort to Corporate Directors Forced to take Action in Unstable Markets |
| 12/30/2008 | Skadden | FTC Seeks Disgorgement Remedy in Merger Challenge |
| 12/30/2008 | Skadden | Siemens AG Settles Foreign Corrupt Practices Act Investigation With U.S. and German Authorities; Pays $1.6 Billion in Fines and Disgorgement |
| 12/29/2008 | Davies Ward Phillips & Vineberg | Supreme Court of Canada Gives Reasons for Judgment in BCE Appeal |
| 12/29/2008 | Squire, Sanders & Dempsey | China Announces New Opinions Related to Commercial Bribery Cases |
| 12/29/2008 | Sutherland | Still Blinded by Sundstrand: The Applicability of the "Good Faith" Defense in Securities Fraud Cases |
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Securities Mosaic Website customers: Search All Law Firm Memos |
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| 12/30/2008 |
Parks v. FIA Card Services, N.A.
(10th Cir.)
Tenth Circuit, reversing the district court, held that the debtor's use of proceeds from one credit card account to make payments on a different credit card account during the 90 day period preceding the filing of a Chapter 7 bankruptcy petition constituted an avoidable preferential transfer. | |
| 12/29/2008 |
Abbotts v. Campbell
(8th Cir.)
Affirming the entry of summary judgment, Court holds plaintiffs failed to exercise reasonable diligence warranting the equitable tolling of the statute of limitations in their state law securities fraud lawsuit. Plaintiffs made no effort to obtain the documents seized by the government investigating the company's failure. Plaintiffs also failed to plead a causal connection between their losses and defendants' actions. | |
| 12/29/2008 |
Hemispherx Biopharma, Inc. v. Johannesburg Consolidated Investments
(11th Cir.)
Court holds that a beneficial ownership interest in securities is necessary to become a member of a group within the meaning of Section 13(d)(3) of the Exchange Act. Because the plaintiff only alleged that one of the defendants was a beneficial owner of its stock, the other defendants were not part of a Section 13(d)(3) group required to file a Schedule 13D form. The Court therefore affirmed the district court's dismissal of that claim. | |
| 12/24/2008 |
Davis v. Pacific Capital Bank, N.A.
(9th Cir.)
Ninth Circuit holds that a finance charge assessed on a federal income tax refund anticipation loan is not "interest" within the meaning of 15 U.S.C. Sec. 1615 and need not be refunded when the loan is repaid early. | |
| 12/24/2008 |
Fisher v. JP Morgan Chase, & Co.
(2nd Cir.)
Plaintiffs, participants in defendants' defined contribution plan, alleged defendants failed to disclose banking, accounting and investment malfeasance connected with investments in Enron. After trial court dismissed for lack of standing, Supreme Court held that participants in defined contribution plans may seek recovery for impairment of their individual plans. Declining to affirm dismissal on alternative grounds, Court vacates and remands. (Summary Order) | |
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Securities Mosaic Website customers: Search Selected Federal Appellate Decisions |
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| 12/19/2008 | Stewart Enterprises, Inc. (Recipient: Stewart Enterprises, Inc.) | |
| 12/18/2008 | Gilman Ciocia, Inc. (Recipient: Gilman Ciocia, Inc.) | |
| 12/18/2008 | Gilman Ciocia, Inc. (Recipient: Prime Capital Services, Inc.) | |
| 12/18/2008 | Gilman Ciocia, Inc. (Recipient: Michael P. Ryan) | |
| 12/18/2008 | Gilman Ciocia, Inc. (Recipient: Rose M. Rudden) | |
| Securities Mosaic Website customers: Search All SEC Investigation Disclosures | ||
| No New CFTC Enforcement Releases Since 12/22/2008. | ||
| Securities Mosaic Website customers: Search All CFTC Enforcement Actions |
| No New PCAOB Enforcement and Inspection Releases Since 12/22/2008. | ||
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Securities Mosaic Website customers: Search All PCAOB Enforcement and Inspection Releases |
| No New Investors Claims Funds Activity Since 12/23/2008. | ||
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Securities Mosaic Website customers: Search All Investors Claims Funds |
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