South Florida Arbitration & Litigation Lawyer Blog

SEC Charges CEO With Insider Trading in Secondary Offering of Company Stock July, 2012: The Securities and Exchange Commission recently charged the chairman and CEO of a Santa Ana, Calif.-based computer storage device company with insider trading in a secondary offering of his stock shares with knowledge of confidential information that a major customer’s demand…

Securities and Exchange Commission v. David Ronald Allen, et al., Civil Action No. 3:11-CV-882-O (N.D. Tex.) July, 2012: SEC OBTAINS FINAL JUDGMENT IN CASE INVOLVING PONZI SCHEME AND PROMOTION OF CHINA VOICE HOLDING CORP. Recently, the Honorable Reed O’Connor, United States District Judge for the Northern District of Texas, entered a final judgment against Ilya…

Short Selling Brothers Agree to Pay $14.5 Million to Settle SEC Charges July, 2012: The Securities and Exchange Commission recently announced that two options traders who the agency charged earlier this year with short selling violations have agreed to pay more than $14.5 million to settle the case against them. An SEC investigation found that…

SEC Charges Mizuho Securities USA with Misleading Investors by Obtaining False Credit Ratings for CDO July, 2012: Firm to Pay $127.5 Million to Settle Charges The Securities and Exchange Commission recently charged the U.S. investment banking subsidiary of Japan-based Mizuho Financial Group and three former employees with misleading investors in a collateralized debt obligation (CDO)…

MSRB PROVIDES GUIDANCE TO UNDERWRITERS ON IMPLEMENTATIONOF NEW OBLIGATIONS TO STATE AND LOCAL GOVERNMENTS July, 2012: The Municipal Securities Rulemaking Board (MSRB) recently published comprehensive implementation guidance to assist underwriters in meeting their newly expanded legal obligations to state and local governments. Effective August 2, 2012, underwriters of municipal securities are required to disclose to…

Financial Statements Required by Florida Law for Company Shareholders. Florida Statute 607.1620 labeled “financial statements for shareholders” sets forth the legal requirements that must be satisfied, by a Florida corporation, concerning its responsibility to provide financial statements to its shareholders. This disclosure requirement is significant for it provides stockholders with the necessary information to determine…

July, 2012: In the Matter of Jeffrey A. Wolfson, Robert A. Wolfson and Golden Anchor Trading II, LLC (n/k/a Barabino Trading, LLC) Recently, the Commission issued orders making findings and imposing remedial sanctions and cease-and-desist orders as part of settlements with two options traders and a broker-dealer who have agreed to pay more than $14.5…

July, 2012: In the Matter of Centaur Management Co. LLC The United States Securities and Exchange Commission (Commission) recently announced the issuance of an Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (Order) against…

Securities and Exchange Commission v. 3 Eagles Research & Development LLC, Harry Dean Proudfoot III, Matthew Dale Proudfoot, Laurie Anne Vrvilo and Dennis Ashley Bukantis, Civil Case No. 3:12-cv-01289-ST (D. Oregon, filed July 17, 2012) SEC Charges Family-Run Business Promising Investors Stake in Purported $11 Billion Gold Mine July, 2012: All that glitters is not…

Private Placement and Direct Investment Fraud and Misrepresentation FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. February, 2012: Synergy Investment Group, LLC (CRD #46035, Charlotte, North Carolina), Thurman Ray Crawford (CRD #56786, Registered Principal, Beaumont, Texas), and Jeffrey Dean Jones (CRD #4188324, Registered Principal, Concord, North Carolina) submitted an Offer of settlement in which…