March 18, 2014
SEC Brings New Charges Against SAC Analyst, Highlighting Risks to Employees
Labaton Sucharow
On Thursday, the SEC announced another set of insider trading charges against an employee of CR Intrinsic, an affiliate of the now-infamous hedge fund advisor SAC Capital Advisors. According to the SEC complaint, CR Intrinsic analyst Ronald A. Dennis received multiple non-public tips about Dell, Inc. and Foundry Networks, Inc. from a friend, which he...
Articles & Perspectives
March 14, 2014
The SEC’s New Policy on Admissions: What Does It Mean for Whistleblowers?
Labaton Sucharow
When SEC Chair Mary Jo White took the reins of the agency last year, one of her first and most highly publicized initiatives was to re-examine the SEC’s policy on “no-admit, no-deny” settlements, meaning settlements in which the defendant neither admits nor denies liability for the alleged securities violations. Prior to Chair White’s tenure, the...
Articles & Perspectives
March 12, 2014
New Reports Suggest the SEC is Cracking Down on Confidentiality Agreements
Labaton Sucharow
In our practice as counsel for SEC whistleblowers, one of the troubling practices we frequently see on the part of companies is the use of confidentiality agreements that purport to prevent employees or former employees from sharing any information – including information about potential violations of law – with any outside parties, including the SEC...
Articles & Perspectives
March 10, 2014
The SEC’s Charges Against Former Dewey Executives: Securities Violations in Unexpected Places
Labaton Sucharow
Like many in the legal community, we’ve been closely following the ongoing saga of Dewey & LeBoeuf LLP- the once venerable international law firm that was forced to declare bankruptcy in May 2012 amid accusations of financial mismanagement. On Thursday, the SEC and the New York County District Attorney’s office brought respective civil and criminal...
Articles & Perspectives
March 7, 2014
National Law Journal Names [Jordan Thomas][‘s][Prior Firm] Top Plaintiffs Firm for the Ninth Straight Year
I am proud to report that, for the 9th year in a row, [Jordan Thomas][prior firm][‘s] has been named to The National Law Journal’s Plaintiffs’ Hot List. Among other things, The National Law Journal reported on our recent successes in a class action against Schering-Plough Corp., which recovered $473 million for investors, and in a...
Articles & Perspectives
March 4, 2014
A Supreme Court Win for Whistleblowers
Labaton Sucharow
The Supreme Court gave corporate whistleblowers a significant victory today in a crucial decision that will help ensure that whistleblowers employed by contractors of public companies, such as accounting firms, law firms and consulting firms, are protected from unlawful retaliation. The case, Lawson v. FRM LLC, available at http://www.supremecourt.gov/opinions/13pdf/12-3_4f57.pdf, specifically involved the anti-retaliation provisions of...
Articles & Perspectives
April 19, 2013
Hedge Funds Are Losing Investors’ Trust
FundFire
Even in the most regulated environments, rules and restrictions are not a panacea. Trust matters, and that definitely applies to asset managers of all kinds, including hedge funds. When managers lose trust, they start losing mandates. Within our financial markets, there are all kinds of trust models – between employers and employees, between clients and...
Articles & Perspectives
April 17, 2013
New Survey Reveals Problems in the Hedge Fund Industry; Affirms Importance of the SEC Whistleblower Program
Labaton Sucharow
Earlier this month, we announced the results of a survey that we conducted in partnership with HedgeWorld and the Hedge Fund Association. The survey polled U.S. hedge fund professionals on the prevalence of misconduct in the workplace and the effectiveness of firm leadership and the government in curtailing and responding to securities violations.The results revealed...
Articles & Perspectives
January 1, 2013
Enhanced Protections for Whistleblowers Under the Dodd-Frank Act
CPA Journal
The Responsibilities, Rights, and Risks of Reporting Fraud CPAs play an important role in protecting investors, and their primary duty is to serve the public-that is, all “who rely on the objectivity and integrity of certified public accountants to maintain the orderly functioning of commerce,” according to the AICPA Code of Professional Conduct (ET section...
Articles & Perspectives
December 4, 2012
Mapping Misconduct: Looking Back, Looking Ahead – First-of-its-Kind Database Offers Insights into SEC Enforcement
Labaton Sucharow
As an SEC Whistleblower Advocate, I have discovered that even the most sophisticated individuals often have questions regarding what constitutes a securities violation and how similar violations have been handled by the SEC in the past. To help our clients to make informed reporting decisions, we have conducted a detailed analysis of SEC enforcement actions...
Articles & Perspectives
November 30, 2012
Ethisphere Institute 2012 Attorneys Who Matter “Rising Star”
Jordan A. Thomas was recently named a “Rising Star” in the esteemed ranking, 2012 Attorneys Who Matter, by the Ethisphere Institute, a leading international think tank focused on business ethics, corporate social responsibility, anti-corruption and sustainability. In its ranking, Ethisphere recognizes leading practitioners in a wide range of legal disciplines within government, private law practice...
Articles & Perspectives
November 26, 2012
Whistleblowing in the Corporate World Series: Rights & Responsibilities of the Corporate Insider
Labaton Sucharow
Despite increasing efforts to establish ethical practices in the workplace, too often misconduct goes undetected and unreported to business leaders or law enforcement. Corporate leaders are on notice; as risk rises to the top, so too does responsibility. This webinar, the final presentation in our six-part series presented with Thomson Reuters, examines the rights and...
Articles & Perspectives