The Presidential Blame Game

When something around you breaks, there is one universal response: “I didn’t do it.” Whether you are a child, a businessman, a criminal, or a presidential candidate, you will most likely be inclined to deny everything and to make counter-accusations. We are obsessed with blame, particularly with avoiding it…

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POSTED IN Bankruptcy, Government, Litigation, SEC Investigations

The Patent Bomb: Fallout From Apple v. Samsung

Apple is the world’s largest and most valuable technology company. Samsung is a close second. When the two behemoths entered the ring to settle their patent disputes with their legal fists, it was clear that the blows could be devastating. However, it is not only Samsung and Apple who will feel the bruises. The verdict [...]

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POSTED IN Litigation

Summer Suits

Although summertime is normally characterized by beaches and swim suits, this past June has seen a number of significant developments in lawsuits concerning big names in the financial industry. While the rest of us have been enjoying the sunshine, the United States government has continued to work tirelessly to pursue suits against insider trading and [...]

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POSTED IN SEC Investigations, White Collar Crime

Up to BATS: An IPO Swing and a Miss

There is nothing more embarrassing for a baseball player than an unforced error – especially when that error consists of tripping over your own feet, falling on your face, and getting hit in the back of the head by the ball you were supposed to catch easily. This is the essence of what happened to [...]

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POSTED IN Capital Markets

Robert Stanford’s Conviction: Repercussions and the #twitterdefense

Robert Allen Stanford is a name that will be forever loathed along with the likes of Bernie Madoff, as the man behind one of the most extravagant Ponzi schemes in history. While Mr. Stanford’s $7 billion scheme pales in comparison to the $65 billion fraud of Mr. Madoff, both cases have generated a great deal [...]

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POSTED IN White Collar Crime

Greed is Not Good: FBI Steps Up Attack on Insider Trading

In the wake of the recent financial debacle, the SEC and the FBI have tried a number of tactics to hold accountable those responsible and to curb continuing abuses. Despite new regulations, harsher penalties, and extensive litigation, the securities market is still plagued by rampant disregard for the rules. A report from the FBI suggests [...]

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POSTED IN White Collar Crime

Settling Up with Bank of America

It is no secret that Bank of America (“BofA”) has faced numerous lawsuits concerning its role in the financial crises. From liability concerning bad mortgages to allegations of securities fraud, BofA’s reputation and bottom line has paid a high price for its actions. And the bad news just keeps coming.  Recently, important developments in two [...]

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POSTED IN Litigation

To Not Admit or To Not Deny, That is the Question: Accountability and the Proposed Citigroup Settlement

What does it mean to neither admit nor deny allegations? In one of the financial industry’s most recent magic tricks, banks have figured out how to buy “innocence” from the Securities Exchange Commission through settlement. On Wednesday, November 9th, 2011, Southern District of New York Judge Jed S. Rakoff held an hour long hearing to [...]

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POSTED IN SEC Investigations

The Hurt Volcker: Diffusing Proprietary Trading

The ongoing battle between regulators and the financial industry took a significant step forward last week, as the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve, and the Securities and Exchange Commission (“SEC”) all unanimously approved an initial version of a regulation designed to prevent banks from trading for their own profit. This proposal, known [...]

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POSTED IN Banking & Finance, Volcker Rule

- Fordham Corporate Center