Category Archives: Securities fraud

Latest Developments in the SEC’s Cryptocurrency Enforcement

  By Daniel Portnov It’s been a busy 2018 for cryptocurrency enforcement by the SEC. Following statements by Chair Jay Clayton and Co-Director of Enforcement Stephanie Avakian announcing various cryptocurrency concerns, sweeps and initiatives,[1] several recent Commission enforcement actions have … Continue reading

Posted in SEC Investigation, SEC policy and practice, Securities fraud | Leave a comment

Initial Coin Offerings and SEC Enforcement: Protecting Investors (Part I)

  By Dan Portnov The SEC’s Office of Investor Education and Advocacy (“OIEA”) came in hot last week with its HoweyCoin initial coin offering pre-sale – a mock ICO designed to teach cryptocurrency-hungry investors the lesson that some ICOs may … Continue reading

Posted in CFTC case, Due Diligence, Investor fraud, SEC Investigation, Securities fraud | 1 Comment

Doing the Government’s Laundry

By Dan Portnov In certain legal (nerd) circles, coining a phrase or term of art is one of the surest ways to achieve immortality – think Tim Wu’s first use of “network neutrality” in a 2003 journal article or Justice … Continue reading

Posted in Brady violations, Criminal Investigation, Deferred Prosecution Agreement, Discovery/Brady, DOJ policy and practice, Securities fraud | Leave a comment

SEC Charges Firm with Not Snitching Enough

Regular readers of this blog know that I resent when the government forces private industry to do the government’s job. Internal investigations are a good example. Companies spend millions conducting them into possible wrongdoing—hoping for leniency—and then turn over the … Continue reading

Posted in SEC Investigation, Securities fraud, Uncategorized | Leave a comment

Like DOJ, the SEC Has Trouble with Misleading Press Releases

I’ve written before about the fundamental unfairness of the Department of Justice’s practice of issuing press releases touting indictments but not issuing press releases when the charges are dismissed or the defendant acquitted. It looks like the SEC has the … Continue reading

Posted in SEC policy and practice, Securities fraud | 2 Comments

Fight the Power, Part III: The David Ganek Complaint

In Part I of the series, I introduced the idea that defense counsel are increasingly fighting back against DOJ in creative ways. In Part II, we talked about Sheldon Silver and his defense counsel’s efforts to use DOJ’s very public … Continue reading

Posted in civil case, DOJ policy and practice, Fifth Amendment, Fourth Amendment, Insider Trading, Prosecutorial misconduct, Search warrant, Securities fraud | Tagged | 3 Comments

Only in Texas: Civil Securities Fraud Claims Dismissed but Criminal Charges Head to Trial

Warren “Ken” Paxton, Jr. is the attorney general of Texas. He’s had some ups and downs this week, to be sure. On Friday, October 7, 2016, the Eastern District of Texas dismissed all of the securities charges filed by the … Continue reading

Posted in Securities fraud | 1 Comment

The SEC’s Right to a Jury Trial

We usually think about the right to a jury as one for a defendant facing charges. But it’s worth remembering that agencies are people too. Well, at least when it comes to the right to a jury trial in a … Continue reading

Posted in Appeal, Securities fraud | Leave a comment

That Time the SEC Got It Right

The NewYorker recently published an interesting article, “Why the SEC Didn’t Hit Goldman Sachs Harder.” The article posits that the SEC let individual executives on Wall Street off the hook for securities fraud after the financial crisis. The article offers … Continue reading

Posted in SEC Investigation, Securities fraud | Tagged | Leave a comment

A Groovy Decision by Fifth Circuit Gives Corporate Executives a Second Chance Based on Evidentiary Mistakes at Trial

The Fifth Circuit handed two corporate executives at a medical device company a big win recently. I’ve posted in the past about the indictments and trial of two former executives at ArthroCare, Michael Gluk and Michael Baker. They were found … Continue reading

Posted in Appeal, Health care fraud, Securities fraud, Uncategorized | 3 Comments