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High court seems poised to overturn McDonnell conviction
Securities Lawyers |
2016/05/03 21:48
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The Supreme Court on Wednesday seemed poised to overturn the conviction of former Virginia Gov. Bob McDonnell on political corruption charges and place new limits on the reach of federal bribery laws.
Justices across the ideological spectrum expressed major concerns that the laws give prosecutors too much power to criminalize the everyday acts that politician perform to help constituents.
Chief Justice John Roberts said it was "extraordinary" that dozens of former White House attorneys from Democratic and Republican administrations submitted legal papers saying that upholding McDonnell's conviction would cripple the ability of elected officials to do their jobs.
"I think it's extraordinary that those people agree on anything," Roberts said.
Justice Breyer said the law presents "a real separation of powers problem" and "puts at risk behavior that is common."
"That's a recipe for giving the Department of Justice and prosecutors enormous power over elected officials," Breyer said.
McDonnell, who was in the courtroom with his wife Maureen to watch the arguments, was convicted in 2014 of accepting more than $165,000 in gifts and loans from a wealthy businessman in exchange for promoting a dietary supplement.
At issue is a federal law that bars public officials from accepting money or gifts in exchange for "official acts." The court is expected to clarify what distinguishes bribery from the routine actions that politicians often perform as a courtesy to constituents.
But the justices struggled over how to draw that line. Both Roberts and Breyer suggested the bribery law could be considered unconstitutionally vague. |
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Appeals court allows capital retrial of Wolfe
Securities Lawyers |
2013/05/23 10:53
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A federal appeals court will allow a capital murder case to proceed against an accused drug kingpin from northern Virginia.
In a 2-1 ruling, the 4th U.S. Circuit Court of Appeals in Richmond overturned a federal judge in Norfolk who had ordered a halt to the prosecution of Justin Wolfe and his immediate release.
That judge said misconduct by prosecutors in Prince William County made it impossible for Wolfe to get a fair trial.
But a majority on the appellate court disagreed. The judges ruled that a new trial can be done fairly. A dissenting judge said the misconduct was so bad that freeing Wolfe was the only proper outcome.
Wolfe was sent to death row in 2002 for a drug-related murder, but his original conviction and sentence were overturned.
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Bronstein, Gewirtz & Grossman, LLC Announces Class Action
Securities Lawyers |
2012/01/09 10:03
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Bronstein, Gewirtz & Grossman, LLC announces that a class action has been filed in the United States District Court for the Southern District Court of New York on behalf of purchasers of Camelot Information Systems Inc. American Depositary Shares ("ADSs") between July 21, 2010 and August 17, 2011 (the "Class Period"), including those who acquired Camelot ADSs pursuant or traceable to the Company's false and misleading Registration Statements and Prospectuses issued in connection with its July 21, 2010 initial public offering and December 10, 2010 Secondary Offering.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. March 5, 2012 is the deadline for investors to seek a lead plaintiff appointment.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of both class and individual litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate work, litigation and securities arbitration.
http://www.bgandg.com
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Former CEO guilty in 'Ponzi' scheme
Securities Lawyers |
2011/08/16 09:25
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The former CEO of an Austin-based investment firm was found guilty on Wednesday on federal charges that he schemed and defrauded investors out of millions of dollars.
Triton Financial CEO Kurt Branham Barton was named in a 39-count indictment alleging he used former NFL stars and church contacts to raise $50 million fraudulently from investors.
The counts against Kurt Branham Barton included money laundering, wire fraud and securities fraud. He is accused of using the money raised from investors "to support an expanding Ponzi scheme" and to enrich himself and the chief financial officer of his Triton Financial firm.
“It is regrettable that selfish, greedy individuals devise schemes to make themselves rich by victimizing honest and innocent people, often depriving the victims of their life savings," U.S. Attorney John E. Murphy said. "These con artists are usually very accomplished salesmen taking advantage of trusting investors, who unfortunately will never be made whole again."
Evidence presented during the eight-day trial showed that from December 2005 and December 2009, Barton devised a scheme to obtain money from investors under false pretenses.
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Oracle's profit tops Street, but worries surface
Securities Lawyers |
2011/06/23 15:39
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Oracle Corp.'s latest quarterly results Thursday underscore the critical role its software business plays despite its push to become a more well-rounded technology vendor by selling computer servers. Oracle's net income increased 36 percent as new sales of business software were at the high end of its expectations. Revenue rose 13 percent. But the company's stock fell as its hardware division stumbled. Oracle bought fallen Silicon Valley star Sun Microsystems last year for $7.3 billion. That thrust Oracle into the computer server business. The transformation has made CEO Larry Ellison one of the world's richest men. It also made an enemy of longtime partner Hewlett-Packard Co. Ellison has repeatedly said that he wanted to focus Sun's business only on higher-profit deals. As a result, he warned, some lower-margin deals may fall off. Now that Oracle has had Sun for a full year, the effect of Ellison's strategy is coming into focus. Oracle said net income was $3.21 billion, or 62 cents per share, in the fiscal fourth quarter, which ended May 31. That compares with $2.36 billion, or 46 cents per share, a year ago. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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