-
GM Orders Senior Executives Not to Trade in Company Stock
General Motors changed its policy in April when it stopped giving earnings guidance, no doubt because all the bad news of the past year meant its financial executives had to conduct conference calls while wearing flak jackets. When a company does not try to guide estimates of its quarterly and annual earnings, there is a…
-
The Defendants Take the Stand at the Enron Broadband Services Trial
The Enron Broadband Services prosecution of five former executives at the unit grinds into its third month, with three former high-ranking officers taking the witness stand to dispute the government’s claim that they misled analysts and investors about the unit’s technology and engaged in accounting fraud. Former executives Scott Yeager, a senior vice president for…
-
Playing the Andersen Card
The potential that Milberg Weiss, one of the leading plaintiff class action firms, will be indicted triggered an interesting reaction from the firm, which argued that the government should not indict the partnership for wrongdoing by individual lawyers because of the effect on innocent employees. Earlier posts here and here discuss the indictment of Seymour…
-
Congressman’s House Sale to a Contributor Is the Focus of a Federal Investigation
Eight term California Congressman Randy (Duke) Cunningham’s sale of his home for $1.675 million in 2003 is the focus of an FBI investigation, according to an article in the North County (Calif.) Times (here). The purchaser was Mitchell Wade, a contributor to Rep. Cunningham’s campaigns and the owner of MZM Inc., a defense contractor whose…
-
Changing Strategies in White Collar Cases
The spate of high profile white collar crime trials over the past 18 months (or so) — kicking off with Martha Stewart and Frank Quattrone through the jury deliberations about the fate of Richard Scrushy and leading up to the anticipated blockbuster Enron conspiracy trial of former CEOs Ken Lay and Jeffrey Skilling — is…
-
Parmalat CEO to Stand Trial for Fraud
A judge in Milan, Italy, ordered Parmalat CEO and founder Calisto Tanzi to stand trial beginning Sept. 28 on charges related to the accounting fraud that led to the company’s bankruptcy. In addition, Italian officers of Bank of America, accounting firm Grant Thornton, and Parmalat’s accountant Deloitte & Touche, are among others who will also…
-
Are Milberg Weiss and William Lerach The Next Targets?
The Milberg Weiss firm, in its various incarnations, is one of the leading plaintiff securities class action and shareholder derivative firms in the country. The firm and William Lerach, once a name partner and now the lead partner at Lerach Coughlin Stoia Geller Rudman & Robbins, may be the unindicted coconspirators in the prosecution of…
-
ABA Task Force Report and Recommendations on the Corporate Attorney-Client Privilege
The American Bar Association formed a Task Force on the Attorney-Client Privilege in response to the recent push by the Department of Justice and federal regulatory agencies, primarily the SEC, in demanding that corporations which are the subject of criminal and civil investigations waive their attorney-client privilege and the protections afforded by the work product…
-
Extraterritorial Jurisdiction and Social Harm
The indefatigable Ellen Podgor published an article in the McGeorge Law Review entitled "A New Dimension to the Prosecution of White Collar Crime: Enforcing Extraterritorial Social Harms." The article considers recent prosecutions in which the victim of the criminal conduct was a foreign government: David McNab and David Pasquantino went were sentenced to prison for…
-
Juris Novus Featuring Blogs from the Law Professor Blogs Network
The Law Professor Blogs Network is proud to announce a collaboration with Juris Novus, one of the finest law blog aggregators online. Juris Novus will be featuring a rotating cast of blogs from our Network. Statement from Juris Novus: Keeping up with the blogsphere is a daunting task as new blogs come online daily. Juris…
-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
MattBray.net 