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You want joy? I have joy, right here:
(Hums happy tune as she pastes the below)
Snipping a bit off the introduction...
The High Frequency trading Lswsuit That Has Wall Street Running Scared.
....... a class-action lawsuit in the matter( High Frequency Trading) that was filed last month on April 18 in Federal Court in the Southern District of New York.
.............
A more careful look at the lawsuit, however, is sending shivers across Wall Street. The law firm that made the filing is Robbins Geller Rudman & Dowd LLP – a firm staffed with former prosecutors from the U.S. Justice Department and a legal powerhouse whose bread and butter is securities fraud.
Robbins Geller played a pivotal role in the securities class action against Enron, securing a $7.3 billion recovery; $5.7 billion in the Visa/MasterCard antitrust class action; $2.46 billlion in a Household International class action judgment; $925 million in the UnitedHealth Group stock option backdating case; and $657 million in a securities action involving WorldCom – to name just a few.
The firm’s biggest threat to Wall Street is that it actually knows how to define securities fraud to a court, what to ask for in discovery, and it prepares its cases on the basis that they may go to trial – producing deep archives of smoking gun documents.
http://wallstreetonparade.com/2014/05/the-high-frequency-trading-lawsuit-that-has-wall-street-running-scared/
.............
A more careful look at the lawsuit, however, is sending shivers across Wall Street. The law firm that made the filing is Robbins Geller Rudman & Dowd LLP – a firm staffed with former prosecutors from the U.S. Justice Department and a legal powerhouse whose bread and butter is securities fraud.
Robbins Geller played a pivotal role in the securities class action against Enron, securing a $7.3 billion recovery; $5.7 billion in the Visa/MasterCard antitrust class action; $2.46 billlion in a Household International class action judgment; $925 million in the UnitedHealth Group stock option backdating case; and $657 million in a securities action involving WorldCom – to name just a few.
The firm’s biggest threat to Wall Street is that it actually knows how to define securities fraud to a court, what to ask for in discovery, and it prepares its cases on the basis that they may go to trial – producing deep archives of smoking gun documents.
The intro mentions Michael Lewis' new book on Hight Frequency Trading.
Plus...more joy.., thanks to Lewis' book..
Guy Featured In Best-Seller About The Financial Crisis Faces Fraud Trial
An investment advisor featured in "The Big Short," a best-selling book about the financial crisis, faced an administrative trial Monday on claims he misled investors in a complex investment product linked to mortgages.
The U.S. Securities and Exchange Commission called its first witnesses in administrative proceedings in New York in a fraud case launched in October against Wing Chau and his New Jersey investment advisory firm Harding Advisory LLC.
http://www.businessinsider.com/r-investment-advisor-featured-in-the-big-short-faces-sec-trial-2014-31The U.S. Securities and Exchange Commission called its first witnesses in administrative proceedings in New York in a fraud case launched in October against Wing Chau and his New Jersey investment advisory firm Harding Advisory LLC.
14 replies
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I agree!
