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Recent Blog Posts

Insider Trading Fells SAC

First JPMorgan Chase agrees to accept fault for manipulating the market, then SAC Capital Advisors makes financial history the wrong way — by accepting a record $1 billion fine and agreeing to admit to insider trading charges.  In July, the Federal Bureau of Investigation (FBI) announced insider trading charges against SAC Capital companies. The FBI… Read More »

Revolving Doors: Anthony Marshall Out Again

I talked earlier about fiduciary duty and the conviction of Anthony D. Marshall, the son of Brooke Astor, on charges that he breached that duty while handling her financial affairs at the end of her life. In a six-month trial, Mr. Marshall was convicted on 14 charges including fraud and financial exploitation. Sentenced to one… Read More »

The Curious Case Concerning Edward Snowden

In June, the United States filed criminal charges against Edward J. Snowden. The charges were expected in light of the disclosure by Mr. Snowden of top secret information about United States and British domestic spying programs.  The complaint against Mr. Snowden lists three charges:  Theft of government property Unauthorized communication of national defense information Willful… Read More »

A Whale of a Tale: JPMorgan Accepts Fault

In a legal and regulatory scandal once described by JPMorgan CEO Jamie Dimon as a tempest in a teapot, the bank agreed in October to pay a $100 million fine and admit wrongdoing, which is an unprecedented move the bank greatly sought to avoid.  In filing and settling the charges against JPMorgan Chase, the Commodity… Read More »

Predicting the Fraud Risk of CEOs and CFOs

An interesting new study crossed my desk the other day. Three researchers conducted a study of “off-the-job” behaviors of chief executive officers and chief financial officers at companies subject to fraud claims by the Security and Exchange Commission and compared them to their counterparts at similar companies that had no reported fraud. The purpose of… Read More »

Beware: Federal Investigators Can Know Where You Roam in Texas, Louisiana and Mississippi

Recently newsworthy: the competing interests of privacy versus security when it comes to the government’s collection of telephone call data from Verizon and other carriers. A recent decision by the U.S. Court of Appeals for the 5th Circuit highlights the issue. The case began in Texas when federal government officials tried to get court orders… Read More »

If You Are a New York Homeowner Facing Foreclosure, You May Have Rights to a Court-Mandated Settlement Conference … Even if Your Lender Doesn’t Think So

If you are one of New York’s many homeowners behind in mortgage payments and have been served with a foreclosure complaint, New York law may offer you an important right — to meet with your lender to try to work out a settlement enabling you to keep your home. Unfortunately, some lenders’ foreclosure practices have… Read More »

ACLU v. NYPD: Is It Legal to Single Out Muslims for Surveillance?

The American Civil Liberties Union, the New York Civil Liberties Union and the CLEAR Project of Main Street Legal Services at the CUNY School of Law recently filed a lawsuit against the New York City Police Department. At issue is whether the NYPD’s Muslim Surveillance Program is legal. Under the program, the NYPD: Specifically identifies… Read More »

Let’s Make Kendra’s Law Permanent … and Enforce It

In 1999, Kendra Webdale was waiting for an N train at the 23rd Street subway station under Broadway. Suffering from schizophrenia and not taking his medications, Andrew Goldstein pushed Kendra onto the tracks into the path of the train as it arrived. In response to this fatal incident and other incidents of violence committed by… Read More »

If You Bring a Civil RICO Claim Against One of Our Clients, You’d Better Be Blameless

The Racketeer Influenced and Corrupt Organizations Act, otherwise known as RICO, is a federal law aimed at prosecuting leaders of organizations when they order or assist others in racketeering. A common example is a protection service in which those who offer the protection harm any ostensible beneficiary who declines the service. RICO was enacted in… Read More »