http://securities.law360.com/ The Newswire for Legal Professionals Copyright 2009 Portfolio Media, Inc. en-US http://securities.law360.com/images/headings/logo.gif http://securities.law360.com/ http://securities.law360.com/articles/132961 Silicone supplier Dow Corning Corp., which is holding $667 million in auction rate securities that it cannot sell, has brought litigation that accuses BB&T Corp. of making false statements about the safety and liquidity of that investment. http://securities.law360.com/articles/132961 http://securities.law360.com/articles/131130 With health care and climate change legislation, a global recession, and the war in Afghanistan, a financial regulatory overhaul has been slower than some expected, but Congress is moving forward on a sweeping financial reform package, and observers say some segments could soon be signed by President Barack Obama. http://securities.law360.com/articles/131130 http://securities.law360.com/articles/132972 A federal judge has ordered TD Bank NA to turn over all account records for South Florida law firm Rothstein Rosenfeldt Adler PA, whose equity partner Scott W. Rothstein is accused of misappropriating millions of dollars in investor funds. http://securities.law360.com/articles/132972 http://securities.law360.com/articles/132916 Former Jefferies Paragon Fund portfolio manager Joseph Contorinis is facing conspiracy and securities fraud charges stemming from $7 million in profits he allegedly made for the hedge fund by trading on insider information about the 2006 sale of supermarket chain Albertson’s Corp. http://securities.law360.com/articles/132916 http://securities.law360.com/articles/132757 A judge has tossed all claims against Constar International Inc., citing its filing for Chapter 11 protection, in a consolidated securities fraud class action alleging the plastic container maker and several financial firms made misleading statements to investors about Constar's 2002 initial public offering. http://securities.law360.com/articles/132757 http://securities.law360.com/articles/132739 A judge has certified a securities class action accusing circuit board maker Merix Inc. and its officers of misleading investors in connection with a 2004 stock offering, though he has approved a more limited class than the plaintiffs wanted. http://securities.law360.com/articles/132739 http://securities.law360.com/articles/132793 Plaintiffs’ counsel in shareholder derivative litigation over alleged misrepresentations associated with Bank of America Corp.’s purchase of Merrill Lynch & Co. Inc. have won permission to subpoena deal adviser Wachtell Lipton Rosen & Katz, the bank’s defense counsel Cleary Gottlieb Steen & Hamilton LLP and former Merrill CEO John A. Thain. http://securities.law360.com/articles/132793 http://securities.law360.com/articles/132831 Hong Kong is considering whether to allow class action litigation in the wake of losses Hong Kong minibond investors suffered from the collapse of Lehman Brothers Holdings Inc. http://securities.law360.com/articles/132831 http://securities.law360.com/articles/132779 The founders of Skype Ltd. have laid down their swords in a battle over eBay Inc.'s $2.75 billion sale of the majority of Skype to a group of private investors, agreeing to drop an intellectual property suit and other litigation in exchange for a stake in the Internet telephony company. http://securities.law360.com/articles/132779 http://securities.law360.com/articles/132872 The U.S. Securities and Exchange Commission's new Division of Risk, Strategy and Financial Innovation has begun to take shape, with the announcement Thursday of two new counsel and one senior policy adviser. http://securities.law360.com/articles/132872 http://securities.law360.com/articles/132806 Citing critical differences among the plaintiff blocs, a group of pension funds has urged a federal judge to reconsider a recent decision to consolidate actions accusing KeyCorp.’s investment management unit of channeling $186 million into Madoff feeder funds. http://securities.law360.com/articles/132806 http://securities.law360.com/articles/132821 Oil field servicing company Key Energy Services Inc. is asking a federal judge for summary judgment to force Twin City Fire Insurance Co. to pay it about $914,000 to partially cover $21.9 million Key paid to settle two securities and shareholder lawsuits brought against it. http://securities.law360.com/articles/132821 http://securities.law360.com/articles/132832 A former natural gas trader for the Bank of Montreal has settled with the U.S. Commodity Futures Trading Commission over allegations that he fudged the bank’s natural gas options for years, exaggerating trading profits by several hundred million dollars and reaping outsize bonuses. http://securities.law360.com/articles/132832 http://securities.law360.com/articles/132722 A fugitive former General Motors Corp. commodity manager has returned to the United States after evading custody for more than a year, pleading guilty Thursday in a kickback and fraud scheme involving the sale of bulk aluminum. http://securities.law360.com/articles/132722 http://securities.law360.com/articles/132599 The chief U.K. financial regulator has slapped UBS AG with a fine of £8 million ($13.2 million) for failing to keep employees from carrying out unauthorized foreign exchange and precious metals transactions with customers’ money. http://securities.law360.com/articles/132599 http://securities.law360.com/articles/132565 An associate at Ropes & Gray LLP was arrested Thursday as part of an ongoing government investigation of insider trading at hedge funds and stock trading firms that last month ensnared Raj Rajaratnam, founder of Galleon Group. http://securities.law360.com/articles/132565 http://securities.law360.com/articles/132684 White collar crime specialist and former Assistant U.S. Attorney Michael Emmick has joined the Los Angeles office of Sheppard Mullin Richter & Hampton LLP as special counsel. http://securities.law360.com/articles/132684 http://securities.law360.com/articles/132456 A California appeals court has cast doubt on whether Credit Suisse First Boston Mortgage Capital LLC has a stake in payments made to a law firm by a convicted Ponzi schemer, reversing a ruling that such payments are subject to a lien imposed in association with a $16.8 million judgement the financial services company won. http://securities.law360.com/articles/132456 http://securities.law360.com/articles/132514 RadioShack Corp. has reached a settlement in a proposed class action brought by members of a company 401(k) plan who accused the electronics retailer of funneling their investments into an underperforming mutual fund. http://securities.law360.com/articles/132514 http://securities.law360.com/articles/132660 A pension fund that sued VeriFone Holdings Inc. for allegedly overstating its income for three 2007 quarters by more than $37 million is opposing the U.S. Securities and Exchange Commission’s proposed settlement related to the alleged fraud. http://securities.law360.com/articles/132660