U.S. Securities and Exchange Commission News

Court rules Securities and Exchange Commission failed to show entitlement to disgorgement from Berkeley Healthcare Dynamics

By Charmaine Little | Jan 18, 2019

SAN FRANCISCO – The U.S. District Court for the Northern District of California partially granted the Securities Exchange Commission’s motion for summary judgment in its case against companies it alleged violated federal securities laws.

Federal judge orders SEC-alleged Ponzi fraudster to pay off purchase agreement with California firm

By Karen Kidd | Jan 8, 2019

A New York man charged by the U.S. Securities and Exchange Commission with bilking millions from investors has been ordered by a federal judge to pay off a defaulted purchase agreement with a California wealth management company.

Court orders for final distribution plan in case between SEC, Felix Investments

By Gabriel Neves | Dec 28, 2018

SAN FRANCISCO – A plan crafted both by the U.S. Securities Exchange Commission and an investment company has received an order for a final agreement.

Fruition, investors ordered to pay more than $7 million over stock price manipulation allegations

By Carrie Salls | Nov 30, 2018

SAN DIEGO – A court has ordered two individuals and a corporation to pay more than $7 million in penalties and interest in a ruling in a stock manipulation civil enforcement action.

'Cross examination is going to be brutal': NYU law prof says climate change litigation is a loser

By Karen Kidd | Feb 21, 2018

NEW YORK (Legal Newsline) – California officials who made dire climate change predictions about their localities' future in litigation against energy companies, but not in bond offerings, probably know by now their litigation is doomed, a New York University law professor said during a recent interview.

'Dispassionate analysis' lacking in California climate change litigation, environmental attorney says

By Karen Kidd | Feb 20, 2018

WASHINGTON (Legal Newsline) – Government officials in California who made dire climate change predictions in lawsuits against energy companies but not to prospective bond investors didn't think hard enough before filing those cases, a Washington, D.C.-based environmental attorney said during a recent interview.

Cypress Semiconductor and former CEO enter into settlement

By Glenn Minnis | Jul 11, 2017

T.J. Rodgers, founder and former CEO of Cypress Semiconductor Corp., has entered into a settlement agreement with the company stemming from a conflict of interest suit he filed over the company’s involvement with Canyon Bridge Capital Partners, an equity investment firm backed by the Chinese government.

Unanimous verdict sides with plaintiff in suit against MetLife, awards $15.6 million

By Taryn Phaneuf | Sep 1, 2016

LOS ANGELES – The jury has awarded $15.6 million to the plaintiff in the lawsuit against MetLife, its subsidiaries and a former managing partner, holding the insurance giant responsible for the losses of a woman who invested in what turned out to be a Ponzi scheme.

State Bar will swear in newly elected executive officers in October

By Kerry Goff | Aug 28, 2016

SAN FRANCISCO – The board of trustees has elected James P. Fox as president of the State Bar of California for the 2016-2017 year.

Defense wraps up testimony in MetLife case

By Taryn Phaneuf | Aug 26, 2016

LOS ANGELES – A key MetLife policy that prohibits insurance agents from referring clients to anyone selling unapproved securities should have pulled the plug on any referrals to Diversified Lending Group for premium financing, but corporate manuals didn’t instruct supervisors and agents on how to identify which products were off limits, according to testimony in the trial against MetLife.

Office assistant testifies Russon pushed DLG as an opportunity for insurance customers

By Taryn Phaneuf | Aug 26, 2016

LOS ANGELES — Two witnesses in the trial against MetLife offered glimpses of what workdays looked like in the financial services office that became entangled with a fraudulent real estate investment fund.

Former insurance agent says DLG owner 'deceived' his boss

By Taryn Phaneuf | Aug 14, 2016

LOS ANGELES — In 2006, insurance agent and securities broker James Davidson learned at a meeting about a new product that could be used to sell more insurance, but ultimately would wind up as the basis for legal problems. 

Insurance agents' supervisor: 'Friedman owed me money' but kept quiet about it

By Taryn Phaneuf | Aug 14, 2016

LOS ANGELES — The plaintiff's lawyers spent days working to show how Tony Russon, the head of a MetLife subsidiary, stood by while the owner of an investment fund offering premium financing for insurance customers sold himself as a wealthy individual with a solid business.

San Rafael attorney disbarred for unauthorized practice in up to 400 cases

By Kerry Goff | Aug 14, 2016

SAN RAFAEL -- A California attorney has been disbarred, because he actively represented 300 to 400 trademark cases before the U.S. Patent and Trademark Office (USPTO) despite not being able to practice in this area of law. 

MetLife compliance officer testifies in investment fraud case

By Taryn Phaneuf | Aug 7, 2016

LOS ANGELES — Attorneys in the lawsuit against MetLife and its subsidiary grilled a vice president in the insurance giant’s compliance department about policies governing its employees’ activities.

Former Polycom CEO settles with SEC for alleged failure disclose corporate perks

By Rebecca Campbell | Apr 27, 2016

SAN FRANCISCO – The federal government is cracking down on companies - and their executives - who fail to disclose corporate perks. 

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