Login to OnePass | Settings | Help
Thomson Reuters News & Insight
Featured Content from WESTLAW

Securities Law

Main Menu

  •  
  •  

SEARCH LEGAL MATERIALS

FILTER LEGAL MATERIALS BY

Select all | Clear all

LEGAL MATERIALS

FEATURED DOCUMENTS

S.E.C. v. RINO Int’l Corp. (D. D.C.)

5/16/2013

COMPLAINT – The S.E.C. claims that RINO and its officers overstated earnings in the company’s S.E.C. filings, and diverted proceeds from a securities offering to personal uses. Accurate books were kept in China, with U.S. books claiming 15 times the actual revenue. The S.E.C. seeks a permanent injunction and disgorgement.

Opinions, Orders & Jury Verdicts

Commod. Fut. Trading Comm’n v. Royal Bank of Canada (S.D.N.Y.)

5/14/2013

ORDER – RBC sought production of documents for which the CFTC claimed deliberative process privilege. After in camera review, the court found the documents were intra-agency, deliberative, pre-decisional and protected by the privilege. The court was not persuaded that conversations re. RBC on conference calls with third parties waived the privilege.

Wallace v. IntraLinks (S.D.N.Y.)

5/10/2013

OPINION - Securities fraud plaintiffs sufficiently alleged that defendant, in preparing to take company public, issued false and misleading statements about business and customer satisfaction, without disclosing impending loss of its largest customer.

S.E.C. v. Patel (D. Minn.)

5/8/2013

ORDER – Patel was ordered to disgorge funds gained in securities fraud. The S.E.C. moved to distribute the funds to two victims. Other parties objected, but the court found that these objectors had not provided proof to the S.E.C. of their victimization. Motion to distribute to the two qualifying victims was granted.

Court Filings

In re News Corp. S’holder Deriv. Litig. (Del. Ch. Ct.)

5/10/2013

SETTLEMENT – Plaintiffs challenged the price and the reasons for News Corp.’s acquisition of Shine Group, a TV and movie production company. Defendants admit no liability, but agree to a $139 million payment to plaintiffs as well as the implementation of corporate governance and compliance enhancements.

Knopf v. Exide Tech. (C.D. Cal.)

5/7/2013

COMPLAINT - Complaint alleges defendants knew and failed to disclose that liability for environmental damage it was causing would affect company performance. Its recycling facility was leaking arsenic into the environment, at levels a regulatory agency claimed it had not seen in 25 years, endangering over 100,000 residents in surrounding areas.

Credit Suisse AG v. Desarrolladora Homex S.A. de C.V. (Sup. Ct. N.Y.)

5/3/2013

COMPLAINT – Credit Suisse bought derivatives from Homex. When Fitch downgraded the value of Homex’s debt securities, Credit Suisse sought a margin payment under the parties’ agreement. Homex proposed cancelling the most recent transaction in exchange for a cancellation payment. Credit Suisse seeks the unpaid $26.7 million cancellation payment.

© 2013 Thomson Reuters