Monday, November 3, 2014

Last Week's SEC Press Releases

Fraud Charges Against New York Businessman
A New York businessman and his software company are accused of making false statements to investors while raising more than $3 million to fund operations

An investment advisory firm and three top officials are being charged after violating the “custody rule” that requires firms to follow certain procedures when they control or have access to client money or securities.

A global water management, construction, and drilling company headquartered in Texas has been charged with violating the Foreign Corrupt Practices Act (FCPA) by making improper payments to foreign officials in several African countries in order to obtain beneficial treatment and reduce its tax liability.
A Florida-based auditor has been sanctioned for violating federal laws and regulations requiring lead audit partners to periodically rotate off their audit engagements with a publicly traded company in order to preserve the integrity of the financial reporting process. 
Insider trading charges have been brought against a New Jersey man who generated nearly $700,000 in illicit profits trading in the securities of two pharmaceutical companies that were about to be acquired.

Former hedge fund manager Rajarengan “Rengan” Rajaratnam has agreed to pay more than $840,000 and accept securities industry bars in order to settle the agency’s insider trading case against him.

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The attorneys at Sallah Astarita & Cox include veteran securities litigators and former SEC Enforcement Attorneys. We have decades of experience in securities litigation matters, including the defense of enforcement actions. We represent investors, financial professionals and investment firms, nationwide. For more information call 212-509-6544 or send an email.


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