No announcement yet.

Meanwhile, at the (Lower Manhattan) Hall of Justice . . .

  • Filter
  • Time
  • Show
Clear All
new posts

  • Meanwhile, at the (Lower Manhattan) Hall of Justice . . .

    Washington is buried in snow. New Orleans is buried in confetti and booze. But down at the lower Manhattan federal courthouse, the wheels of justice are turning bigtime.

    Let’s get you caught up quickly on three high-profile hearings taking place this afternoon down at 500 Pearl St.

    Rakoff on the SEC/BofA: New York federal judge Jed Rakoff didn’t look so kindly at the last settlement proposal sent his way by the SEC and Bank of America over disclosures (or lack thereof) concerning bonuses paid to Merrill Lynch executives around the time of the BofA/Merrill merger.

    So last week, the parties tried again, sent Rakoff revised proposed settlement. As we pointed out last week, the deal hardly seemed like it would get a quick rubber stamp from Rakoff. And on Monday afternoon, Rakoff backed that up. He essentially said that he wants to review portions of the record before ruling (but that he hoped to rule by Feb. 19), reports Dow Jones Newswires Chad Bray. Rakoff reportedly had mixed feelings on the settlement, saying that some of the remedial corporate governance changes undertaken by BofA appeared to be “quite positive.”

    At the same time, he noted as we did last week, that Andrew Cuomo’s lawsuit against BofA presented facts that were “strikingly different” than those presented by the SEC.

    Another Galleon Defendant Falls: A former executive of Intel became the 10th person to plead guilty in the Galleon Group insider trading case. Rajiv Goel admitted in court on Monday afternoon that he had passed confidential corporate information to Galleon’s founder, Raj Rajaratnam. Click here for the NYT story.

    According to the NYT story, Goel provided Rajaratnam with details of Intel’s quarterly earnings before they were publicly released. He also tipped Galleon’s founder about a pending joint venture between the Sprint Nextel, a deal that Intel planned to invest $1 billion in.

    And In Other Insider-Trading News: Also down at the Manhattan federal courthouse, James Gansman, a former Ernst & Young partner was sentenced to a year and a day in prison Monday after he was convicted last year of fraud charges in an insider-trading scheme where he allegedly tipped a Pennsylvania broker about pending corporate takeovers.

    At a hearing Monday, U.S. District Judge Miriam Goldman Cedarbaum in Manhattan sentenced James Gansman, a lawyer who resigned from the firm in October 2007. He was convicted of six counts of securities fraud, but acquitted of conspiracy and three securities fraud counts in May 2009. Click here for Bray’s story at Dow Jones Newswires.

    Law Blog YouTube Video of the Day: And what, you ask, does the title of this post refer to? What is that picture? Anyone who came of age (that is, watched copious amounts of Saturday morning television) in the late 1970s and early 1980s will remember SuperFriends, a cartoon starring “the most powerful forces of good ever assembled:” Superman, Batman & Robin, Wonder Woman, AquaMan, and the Wonder Twins, with their space monkey, Gleek (How much did the Wonder Twins have to pay Superman to get him to allow them to tag along, anyway?). The lot of them did their business in the Hall of Justice (pictured). Click here for the classic intro.

  • #2
    Re: Meanwhile, at the (Lower Manhattan) Hall of Justice . . .

    Superfriends Opening


    Previously entered content was automatically saved. Restore or Discard.
    Smile :) Stick Out Tongue :p Wink ;) Mad :mad: Big Grin :D Frown :( Embarrassment :o Confused :confused: Roll Eyes (Sarcastic) :rolleyes: Cool :cool: EEK! :eek:
    Insert: Thumbnail Small Medium Large Fullsize Remove  

    the color of a blueberry is... (write the answer twice with an "@" between the words)

    widgetinstance 213 (Related Topics) skipped due to lack of content & hide_module_if_empty option.