More Than Four Score Law Firms File Amicus Brief Opposing SEC Assault On Client Confidentiality

In several recent posts, I have discussed Covington & Burling LLPs opposition to an SEC subpoena demanding that the law firm "name names".  See SEC Suit AgainstCovington& Burling Threatens More Than Attorney-Client Privileged Information, SEC...

Covington's Substantial Investment In Protecting Client Confidences

As previously reported in this blog, the United States Securities and Exchange Commission is attempting to force the international law firm of Covington & Burling, LLP to identify hundreds of its publicly traded clients.  See SEC Demands That...

Move Aside EPA, The SEC Is Now Regulating Ecosystems!

I don't hear many securities lawyers talking about "ecosystems". Indeed, I think of the word as being more the province of environmental lawyers. The word itself is an amalgamation of two Greek words - οἶκος, meaning house, and σύστημα, meaning a...

Post No Bills

Planning for a congregational picnic this Sunday past, a local Lutheran church sought permission to use the neighboring Catholic church's parking lot. The Catholic church graciously agreed to allow the use of its lot provided that the Lutherans...

NASAA Issues Report On State Enforcement Actions

"Nothing but blue skies From now on"

Did The Co-Founder Of Alcoholics Anonymous Violate Rule 10b-5?

Recently, I enjoyed watching My Name is Bill W., a 1989 movie that starred James Woods, JoBeth Williams and James Garner. The film tells the story of Alcoholics Anonymous co-founder William Griffith Wilson (aka Bill W.). In telling his story, the...

Insider Trading Is Like A Dog Named "Stay"

Insider trading cases remind me of the following joke attributed to stand-up comic Steven Wright:

Did This Corporation's Law Firm Unwittingly Join The Criminal Prosecution Team?

In Brady v. Maryland, 373 U.S. 83 (1963), the Supreme Court held that the prosecution has a duty under the Fourteenth Amendment's due process clause to disclose evidence to a criminal defendant. The former Chief Executive Officer of IAR Systems...

Criminal Conviction Of De Facto Officer Does Not Preclude D&O Coverage

After a two week trial in 2013, a jury convicted Mitchell J. Stein, a lawyer, of mail, wire, and securities fraud based on evidence that he fabricated press releases and purchase orders to inflate the stock price of his client Signalife, Inc., a...

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