Please ensure Javascript is enabled for purposes of website accessibility

Securities Fraud

Jul 13, 2016

Real Property – Securities Fraud – Insufficient Allegations – Breach of Contract Claim – Tort/Negligence

Vestlyn BMP, LLC v. Balsam Mountain Group, LLC (Lawyers Weekly No. 020-044-16, 24 pp.) (Gregory McGuire, J.) 2016 NCBC 46 Holding: In support of its securities fraud counterclaim, the defendant-purchaser alleges that the property interest in question (the Lot 192 Interest) consists of “promissory notes, deeds of trust, and ‘certain other loan and security documents.’” […]

Mar 24, 2015

High court limits securities suits over deceptive comments

WASHINGTON (AP) — A unanimous Supreme Court ruled Tuesday that investors can’t sue companies for making misleading statements of opinion prior to a public stock offering just because those statements ultimately turn out to be wrong. But the ruling said some opinions in registration documents might omit important facts that could mislead investors, giving them […]

May 15, 2014

Criminal Practice – Securities Fraud Conviction Still Good After New Case

Prousalis v. Moore (Lawyers Weekly No. 14-01-0449, 18 pp.) (Wilkinson, J.) No. 13-6814, May 7, 2014; USDC at Richmond, Va. (Gibney, J.) 4th Cir. Holding: The 4th Circuit says a securities lawyer who admitted knowing the IPO for his client, internet company Busybox Inc., would not be listed on the NASDAQ exchange if the lawyer’s […]

Sep 25, 2012

Tort/Negligence – Securities Fraud – Investment Advisor – Breach of Fiduciary Duty

William L. Thorpe Revocable Trust v. Ameritas Investment Corp. The complaint gives rise to a strong inference that defendant King intentionally or recklessly misrepresented that plaintiff Webster was guaranteed to receive a five-percent return on her investment.

Dec 15, 2011

Criminal Practice – Securities Fraud – Evidence – Expert Testimony

U.S. v. Offill The 4th Circuit affirms securities fraud and wire fraud convictions of a former lawyer for the Securities and Exchange Commission who participated in a “pump and dump” securities scheme designed to evade securities registration requirements, artificially inflate the value of securities and then realize a gain by selling them at the inflated value to the public.

Mar 21, 2011

Securities – Fraud – Leveraged Buyout – Disappointed Investors – Civil Practice – Pleadings Amendments

Katyle v. Penn National Gaming Inc. (Lawyers Weekly No. 11-01-0289, 31 pp.) (Baldock, J.) No. 09-2272, March 14, 2010; USDC at Greenbelt, Md. (Messitte, J.) 4th Cir. Click here for the full text of the opinion. Holding: Plaintiffs, investors who were disappointed after a gaming company’s projected leveraged buyout failed to go through in 2008, […]

Dec 17, 2010

SEC accuses two brokers of defrauding clients

RALEIGH (AP) – Two former Wachovia Securities brokers tricked dozens of mostly elderly clients into investing in what were supposed to be can’t-miss opportunities, only to lose roughly $8 million, according to a lawsuit filed by the Securities and Exchange Commission. The SEC complaint charges William Harrison and Eddie Sawyers of misrepresenting the investment strategies […]

Sep 24, 2010

Fayetteville man’s suicide left investors big liabilities

FAYETTEVILLE (AP) – Investors and banks are looking for a share of the $8 million estate a Fayetteville businessman left behind along with more than $40 million in debts when he killed himself. Harnett County court documents show bank founder and financier Raymond Lee Mulkey Jr., 63, left an estate with $8 million in assets […]

Sep 23, 2010

Labor & Employment – Retirement Funds – ERISA – Investment Change – Health Insurance – Securities Fraud Claim

  Hall v. Tyco International Ltd. (Lawyers Weekly No. 10-03-0927, 10 pp.) (James A. Beaty, J.) M.D.N.C. Holding: Even if the court accepts plaintiff’s personal calculations as to how much money he lost in the 24 hours during which his accounts were transferred from Vanguard funds to Fidelity funds, plaintiff has not established either a […]

Top Legal News

See All Top Legal News


See All Commentary