Blog Entries tagged 'Wells Notice'

Ex-Freddie Mac CFO gets Wells Notice

stephentaub@yahoo.com — Wed, 16 Feb 2011 23:00:00 +0100

The former chief financial officer of Freddie Mac will probably face civil charges for his role in the collapse of the mortgage giant.

Anthony Piszel abruptly resigned as CFO of CoreLogic, after receiving a Wells notice from the Securities and Exchange Commission staff in connection with certain disclosure matters during Piszel's tenure at Freddie Mac from November 2006 to September 2008.

Piszel had joined CoreLogic in January 2009.

The Wells notice indicates t [...]

Goldman's other disclosure problem

ronaldfink6@gmail.com — Tue, 20 Apr 2010 23:00:00 +0100

This is seriously speculative stuff on my part. But I wonder if the other shoe that Carl Levin says is about to drop on Goldman has to do with its failure to disclose the fact that it received a Wells Notice from the SEC last July about the Abacus deal.

Yes, the bank claims it was immaterial, just as it claims was its lack of disclosure of hedgie John Paulson's role in helping to design the CDO to go south so he could profit by shorting the deal was immaterial.

In fa [...]

SEC to charge former Dell employees

stephentaub@yahoo.com — Thu, 01 Apr 2010 23:00:00 +0100

The Securities and Exchange Commission is preparing to take some sort of action against several former employees at Dell stemming from accounting and financial reporting matters dating back to 2001.

The computer maker said in a regulatory filing the individuals received "Wells Notices," which indicates the SEC staff has made a preliminary decision to recommend that the SEC begin a civil or administrative action against the former employees. Dell also said it is possible [...]

SEC brings rare Reg FD case

stephentaub@yahoo.com — Wed, 10 Mar 2010 23:00:00 +0100

The Securities and Exchange Commission filed a rare Reg FD case earlier this week.

The regulator brought this action against Presstek, a maker and distributor of digital imaging equipment and its former chief executive officer, Edward J. Marino. The SEC's complaint alleges that on September 28, 2006, while acting on behalf of Presstek, Marino selectively disclosed material non-public information regarding Presstek's financial performance during the third quarter of 20 [...]