Topic
stock fraud
14 published works
Investigation Counsel
Supreme Court of Canada Declines Appeal From B.C. Man Facing US$29M Stock Fraud Penalty
The Supreme Court of Canada will not hear an appeal from a West Vancouver businessman who faces a US$29 million penalty tied to an alleged international pump-and-dump stock fraud. The…
Investigation Counsel
Canadian ‘Mastermind’ in Panama Papers Still Free Despite U.S. Criminal Charges
West Vancouver businessman Fred Sharp, described in U.S. court findings as the “mastermind” of a network used in stock fraud schemes, remains free in Canada despite years of legal setbacks,…
Banking, Finance and Securities
ASIC updates share fraud guidance and calls on AFS licensees to step up
By Lucinda McCann, Liz Hastilow, James Morris (AU), Vittorio Casamento (AU)
On 24 June 2025, the Australian Securities and Investments Commission (ASIC) updated its guidance for Australian financial services (AFS) licensees on how they can reduce share sale fraud risks to…
SEC Actions
Misappropriation, Conflicts And Illegal Stock Sales
Conflicts of interests and sham transactions are a key consideration when dealing with issues involving the federal securities laws. Many of the cases initiated by the Commission center on conflicts…
SEC Actions
Commission Names 10 as Defendants in Stock Sale Scheme
Stock sale fraud schemes are one of the Commission’s long standing targets. Typically the cases center on the acquisition of a penny stock issuer, the accumulation of large numbers of…
Legal Profession Blog
Stock In Trade
The New York Appellate Division for the First Judicial Department imposed a suspension of one year and until further orderIn November 2022, the Attorney Grievance Committee (AGC) commenced this disciplinary…
China Law Blog
Investing in Chinese Companies is Un-Luckin
In May 2019, Luckin Coffee began trading publicly on NASDAQ at $17 a share. The Chinese coffee company raised $561 million in its IPO and in less than a year,…
Corporate & Financial Weekly Digest
Eleventh Circuit Upholds Convictions in “Pump-and-Dump” Stock Fraud Scheme
The US Court of Appeals for the Eleventh Circuit recently upheld convictions for defendants who engaged in an illegal pump-and-dump stock manipulation scheme. Defendants, who participated with seven others in…
Class Action & Mass Torts
Second Circuit Reverses Class Certification Order, Holding That a Clearing Broker’s Alleged Knowledge of Fraud Against Shareholders, Absence Direct Involvement, Is Insufficient to Create a Duty of Disclosure
By John Landry, Jonathan Moss, John Stigi
In Levitt v. J.P. Morgan Securities, Inc., No. 10-4596, 2013 WL 1007678 (2d Cir. Mar. 15, 2013), the United States Court of Appeals for the Second Circuit reversed a district…
Proskauer Whistleblower Defense
District Court Requires SOX Plaintiff To Assert Shareholder Fraud, Consistent with Statute’s Purpose
By Lloyd B. Chinn, Rachel Fischer
The U.S. District Court for the District of North Carolina recently dismissed a plaintiff’s Sarbanes-Oxley whistleblower complaint on the ground that the plaintiff had not alleged shareholder fraud. Gauthier v.…