Parallel Proceedings | Cady Bar the Door

Several Thoughts about the Largest Insider Trading Case in History

By David Smyth on November 21st, 2012 Posted in Insider Trading, Investment Advisers, Parallel Proceedings, SEC Litigation

The SEC and Justice Department filed a massive insider trading case in the Southern District of New York yesterday. The actual defendants include University of Michigan neurology professor Sidney Gilman, hedge fund advisory firm CR Intrinsic Investors LLC, and Matthew Martoma, a portfolio manager at CR Intrinsic between 2006 and 2010. According to the Wall… Continue Reading

SEC Amends Settlement Policy! (but not really)

By David Smyth on January 8th, 2012 Posted in Non-scienter-based Violations, Parallel Proceedings

I was briefly stunned on Friday to read this headline in the New York Times: SEC Changes Policy on Firms’ Admissions of Guilt. My shock didn’t last long. Had the SEC abandoned its longstanding policy of allowing settling defendants to do so without either admitting or denying the allegations in accompanying complaints? Well, the Commission… Continue Reading

Siemens Executives Face Parallel FCPA Proceedings

By David Smyth on December 15th, 2011 Posted in FCPA, Parallel Proceedings, SEC Litigation

So the SEC and the Justice Department brought a big FCPA case involving Siemens AG on Tuesday. The agencies charged a total of nine former senior executives and agents of the company with a decade-long scheme to bribe Argentinian government officials to secure and implement a $1 billion contract to produce national identity cards. The… Continue Reading