Topic
Securities
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Securities Law Prof Blog
Richard Breeden, Hedge Fund Owner
A year ago, Richard C. Breeden, former SEC chair and former court-appointed monitor for Worldcom, started his own hedge fund. How's he doing? Pretty well, according to the Washington Post. …
Securities Law Prof Blog
What a Surprise…
SIFMA opposes extending Rule 10b-5 liability through the "scheme liability" theory. Here is its press release:The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement in response…
Securities Law Prof Blog
SEC Votes Amendments to Reg SHO
The Securities and Exchange Commission today voted to take additional steps to better safeguard investors and protect the integrity of the markets during short selling transactions by closing loopholes in…
M & A Law Prof Blog
Another Day, Another Asset Manager Files to Go Public
Pzena Investment Management, Inc. today filed an S-1 registration statement to go public. Founded in late 1995, Pzena is, according to its S-1, a value-oriented investment management firm with approximately…
M & A Law Prof Blog
The SEC and Hedge Funds
I'm spending the summer researching and writing on the sometimes irrational effects of SEC regulation of hedge funds and private equity. In this vein, I'd like to recommend a recent…
Mass Tort Litigation Blog
U.S. Supreme Court Rules Against Philip Morris Removal of “Light” Class Action
By joetort
Article in the Wall Street Journal -- High Court Rules Against Philip Morris, by Jess Bravin and Mark H. Anderson. Here's an excerpt:The Supreme Court rejected a gambit by Philip…
Securities Law Prof Blog
SEC Anounces Agenda and Panelists for Rule 12B-1 Roundtable
The SEC today announced the panelists and final agenda for the June 19th Roundtable on Rule 12b 1 under the Investment Company Act of 1940. Rule 12b-1 permits mutual funds…
Securities Law Prof Blog
NYSE Censures Member Firm for Sales of Unregistered Securities
NYSE Regulation, Inc. announced on June 11 it has censured and fined J.J.B. Hilliard, W.L. Lyons, Inc. (âHilliard Lyonsâ), a member firm, $1 million in connection with the sale of…
Securities Law Prof Blog
US Not Taking Investors’ Side in Scheme Liability Case
The Justice Dept. did not meet the Monday midnight deadline for filing an amicus brief in favor of the investors in the case scheduled for argument before the Supreme Court…
Securities Law Prof Blog
Stock-Picking Game Cancelled Because of Cheating
TheStreet.com cancelled a "Beat the Street" stock-picking competition because it said some of the contestants had “employed trading strategies to achieve returns that could not be duplicated in the real…