U.S. Securities And Exchange Commission
Recent News About U.S. Securities And Exchange Commission View More
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SEC sues crypto broker Kraken, accusing the firm of running illegal securities operation
The SEC has lodged a lawsuit against cryptocurrency broker Kraken, also known as Payward Inc. and Payward Ventures Inc. The SEC alleges that Kraken has been illegally selling unregistered securities and abusing investor assets. -
Attorney General Bonta Leads Coalition in Support of SEC Proposal to Require U.S. Companies to Disclose Financial Risk from Climate Change
Attorney General Bonta Leads Coalition in Support of SEC Proposal to Require U.S. Companies to Disclose Financial Risk from Climate Change. -
Nevada attorney faces summary disbarment after conviction, imprisonment for wire fraud
SAN FRANCISCO (Northern California Record) — Nevada attorney Zachary Brooke Roberts faces summary disbarment following a California Supreme Court decision and his conviction for wire fraud in a corruption scandal in which a native peoples tribe was defrauded of millions. -
Court dismisses securities action complaint against Tesla over Model 3
SAN FRANCISCO – The U.S. District Court for the Northern District of California has dismissed a man’s second amended securities action suit filed against Tesla Inc. with prejudice. -
Court rules Securities and Exchange Commission failed to show entitlement to disgorgement from Berkeley Healthcare Dynamics
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
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
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
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
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
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
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. -
State Bar Court of California suspends Orange County attorney for involvement in securities fraud scheme
The State Bar Court of California recently placed Richard Oliver Weed, a Newport Beach attorney, on an interim suspension after he pleaded guilty to conspiracy to commit wire fraud and securities fraud. -
Industry experts, elder advocates say $15 million MetLife verdict sends clear message
LOS ANGELES — Sending the message that MetLife should have stopped agents who referred clients to an unauthorized investment scheme that could help them buy insurance, a jury awarded approximately $15.6 million to the first of many individuals’ claims earlier this fall. -
Unanimous verdict sides with plaintiff in suit against MetLife, awards $15.6 million
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
SAN FRANCISCO – The board of trustees has elected James P. Fox as president of the State Bar of California for the 2016-2017 year. -
Attorneys make final arguments in MetLife lawsuit
LOS ANGELES – After weeks of testimony in the lawsuit against MetLife and its subsidiary, attorneys delivered their closing arguments and handed the case over to the jury for deliberation, rehashing the facts and pleading for justice. -
Defense wraps up testimony in MetLife case
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
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. -
Investment fund employee testifies that he didn't know DLG was a Ponzi scheme
LOS ANGELES – After Diversified Lending Group (DLG) became associated with MetLife and one of its subsidiaries in 2004, the number of investment accounts in the real estate fund grew from fewer than 20 to about 800, according to an employee of the company’s marketing arm. -
Former insurance agent says DLG owner 'deceived' his boss
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.