Pamela Chepiga of Allen & Overy and solo practitioner John "Sean" Coffey contend that the U.S. Securities and Exchange Commission's high-profile case against former Goldman Sachs trader Fabrice Tourre should have unraveled on a single failed claim.
The SEC lost its bid for substantial penalties or a new trial against executives of the Reserve Primary Fund, the money-market fund that "broke the buck" in September 2008.
Theodore Olson of Gibson, Dunn & Crutcher and David Boies of Boies, Schiller & Flexner say they've found a new vehicle for winning the Supreme Court's blessing for full gay marriage rights nationwide.
The Justice Department announced criminal charges Wednesday against three former brokers at London-based brokerage firm ICAP PLC, accusing them of scheming with a senior trader at UBS AG to manipulate the London interbank offered rate.
A judge in New York trimmed the government's case, which alleges that Wells Fargo duped HUD into insuring mortgages. But the ruling is the third this year to side with the DOJ's interpretation of the Financial Institutions Reform, Recovery, and Enforcement Act, a statute dusted off by prosecutors in the wake of the financial crisis.
The National Credit Union Administration and its lawyers are back with more mortgage-backed securities claims against more banks—not to mention an opening salvo for the agency in the ongoing LIBOR litigation.
The Federal Trade Commission pressured two merging companies into making concessions to protect competition in a market that doesn't even currently exist, according to Commissioner Joshua Wright's stinging dissent to the agency's consent decree with media researchers Nielsen Holdings N.V. and Arbitron Inc.
A decade after convicted tax lawyer Raymond "R.J." Ruble was booted from Sidley Austin, his exploits continue to haunt the firm.
Wall Street critics were pleased to see JPMorgan admit that a breakdown in controls and leadership caused the losses, but the SEC still came under fire over fine print in the admissions and for letting high-ranking execs off the hook.