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Tag >> securities fraud
Dec 13
2010

Ex-McAfee CFO's conviction overturned

Posted by Stephen Taub in securities fraudSecurities and Exchange CommissionCourt of AppealscomplianceAccounting

Stephen Taub

The US Appeals Court overturned the securities fraud conviction of the former chief financial officer at Network Associates (now called McAfee), who had been sentenced to a year and a day in prison.

In reversing the lower court's decision in the case involving Prabhat Goyal,, the Ninth Circuit Appeals Court rebuked the prosecutor and the judge in the case, asserting "The government shouldn't have brought charges unless it had clear evidence of wrongdoing, and the trial judge should have dismissed the case when the prosecution rested and it was clear the evidence could not support a conviction."

Aug 06
2010

SEC settles charges against six former Navistar finance execs

Posted by Stephen Taub in securities fraudSecurities and Exchange CommissionrestatementscontrollerscomplianceAccounting

Stephen Taub

The CEO and former CFO of Navistar International have agreed to return more than $2.3 million as part of a broad settlement between the company and the Securities and Exchange Commission stemming from Navistar's massive restatement covering 2002 to 2005.

The SEC also settled with five other current and former Navistar employees, including four former finance executives.

Aug 03
2010

Securities class-action suits way down

Posted by Stephen Taub in Stanford Law School Securities Class Action Clearisecurities fraudRiskMadofffinancial crisisCountrywideCornerstone Researchcompliance

Stephen Taub

Victims and others outraged by the recent financial crisis might derive a bit of glee on news that Countrywide Financial agreed to pay $600 million to settle shareholder lawsuits stemming from the sub-prime crisis and collapse of the mortgage market.

The settlement with the one-time mortgage giant marks the largest stemming from the recent financial crisis, according to reports.

Jun 17
2010

Aiders and abetters in cross-hairs

Posted by Stephen Taub in Supreme CourtStoneridgesecurities fraudSecurities and Exchange Commissioncomplianceaiders and abetters

Stephen Taub

Good news for lawyers and bad news for companies.

The folks in Washington who are trying to piece together the details of the financial overhaul bill want to cast a wider net of potential defendants in a securities fraud.

Jun 10
2010

Two ex-Lucent execs settle SEC accounting charges

Posted by Stephen Taub in securities fraudSecurities and Exchange CommissionseccomplianceAccounting

Stephen Taub

Remember Lucent Technologies?

The SEC certainly has. The regulator Wednesday announced it settled with two additional people stemming from a 10-year old accounting scandal.





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