Offering fraud cases are typically the largest category of action initiated by the Commission. While the cases involve a wide variety of schemes to attract investors, they all have common threads. Those typically focus on an offering that is attractive
Thomas O. Gorman
Tom has defended public companies and individuals in regulatory actions involving insider trading, market manipulation, financial fraud, corporate governance matters, accounting and auditing issues, FCPA issues, and similar matters. He has also defended securities class action and derivative suits and led teams conducting internal investigations focused on financial fraud and other securities law issues. He regularly speaks on, and publishes articles regarding, securities litigation issues including the FCPA, internal investigations, financial fraud and insider trading. He has been interviewed on these issues by the New York Times, Wall Street Journal, Washington Post, Financial Times, and other leading publications in addition to appearing on CNBC, CNN, and other TV networks. Tom publishes a widely-read securities blog, www.secactions.com, which analyzes trends in securities enforcement inquiries and litigation, and provides expert commentary for the LEXIS Securities web page. He serves as a member of the editorial board of the Securities Regulation Law Journal.
This Week In Securities Litigation (Week of June 16, 2025)
The focus of civil enforcement appears to be finishing up older cases that have yet to be resolved. Last week, as in many others, the cases presented are largely previously filed actions that have been in litigation for a period…
Commission Settles Real Estate Scam Action
<p>Offering frauds may be one of the most prevelant schemes at the center of Commission enforcement actions. As we have noted in this space, they are repeatedly brought and unfortunately investors are repeatedly taken-in by them. The only thing that…
SEC Obtains Partial Summary Judgment Ruling On Insider Trading
<p>There seems to be little doubt that the current administration in Washington is impacting the SEC as well as many other government offices and agencies. While in theory the Commission is an independent regulatory agency, the recent testimony of its…
This Week In Securities Litigation (Week of June 9, 2025)
This Week In Securities Litigation (Week of June 9, 2025) The Commission filed two new cases last week. In addition, Chair Atkins testified before the Senate Appropriations Subcommittee on Financial Services and General Government. One of the points in his…
Adviser Overcharges Clients
<p>Investment advisers registered with either the Commission or a state agency have a special relation with their clients. This is illustrated by the fact that under the federal securities laws they have not just a close relation but more –…
The Future Path of the Commission?
Mission: Chair Atkins began by declaring that “it is a new day at the SEC . . .” (emphasis original). That new day will focus on what he identified as the agency mission: 1) protecting investors; 2) capital formation and…
This Week In Securities Litigation (Week of June 2, 2025)
The Commission continued to dismiss previously filed enforcement action by stipulation with those involved last week. As with the early dismissals, no explanation was offered beyond the factually unsupported claim that the agency believes the resolution is appropriate. The sole…
Adviser Targets Clients
While the Commission continues to dismiss cases with prejudice without specifying the reasons, the agency is also filing new and settled cases in traditional areas. One of those areas is targeted offering frauds. Those typically focus on a specific group…
This Week In Securities Litigation (Week of May 26, 2025)
Last week the Commission filed four new enforcement actions. Four other cases were dismissed with prejudice. The papers did not offer an explanation for the dismissal. Be careful, be safe this week. SEC Enforcement – Filed and Settled Actions Statistics:…