By Josh Lawler and Joel B. Ginsberg of Zuber & Taillieu LLP
The Second Circuit has held that secondary actors can be held liable for Rule 10b-5 damages actions only for false statements attributed directly to the secondary actor at the time of their dissemination. In Pacific Investment Management Co. v. Mayer Brown, 603 F.3d 144 (2nd Cir. 2010), the Court of… More...
U.S. Senators Jim Webb (D-VA) and Barbara Boxer (D-CA) have introduced the Taxpayer Fairness Act, a legislation that would impose a 50 percent tax on excessive bonuses paid by Wall Street banks and other firms that benefited from billions of taxpayer dollars in 2009. More...
Senate Banking Committee Chairman Christopher Dodd, D-Conn., has pushed for a sweeping financial reform package that includes the creation of separate agency watch dogs to oversee consumer protection, financial entities, insurance companies, and credit ratings. More...
The Ending Taxpayer Bailouts By Making Wall Street Pay Act would require huge corporations to pre-pay into a fund that, in cases of financial crisis, would help wind down failed corporations in order to minimize collateral damage to the economy. More...
U.S. Senator Robert Menendez (D-NJ), a member of the Banking Committee, has unveiled a legislative package that could bring accountability to corporate governance. More...
An omnibus stimulus bill for small businesses, the Small Business Financing and Investment Act of 2009, H.R. 3854, has been referred to the Senate Committee on Small Business and Entrepreneurship after being read twice on the Senate floor. More...
U.S. Sen. Sherrod Brown (D-OH) has unveiled legislation that aims to place restrictions on corporate spending in elections. More...
On motion to suspend the rules, the U.S. House of Representatives has passed by voice vote and without any amendment H.R. 6388, otherwise known as the Government Accountability Office Improvement Act of 2008. More...
The U.S. House of Representatives Financial Services Committee has passed H.R. 3890, the Accountability and Transparency in Rating Agencies Act (“Act”), introduced by Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises. More...
Representative Peter DeFazio (D-OR), Chairman of the House Subcommittee on Highways and Transit, together with 22 other members of the U.S. House of Representatives, has introduced new legislation that assesses a tax on Wall Street securities transactions. More...
By a vote of 223 to 202, drawn along party lines, the U.S. House of Representatives has passed historic legislation that lays down a comprehensive set of measures that will modernize America’s financial regulations and hold Wall Street accountable. More...
