Articles
March 12, 2013 - Standout Kirby McInerney LLP partner Andrew McNeela has helped secure more than $830 million in settlements in securities fraud class actions in the last 18 months alone, landing him a spot among Law360's five class action rising stars under 40. [more]
February 15, 2013 - Like many other collateralized debt obligations, Delphinus CDO 2007-1 got a triple-A rating and then defaulted within months, causing painful losses to investors. Who is responsible for the mess? [more]
February 12, 2013 - The U.S. Treasury has weathered complaints over the reach of the Foreign Account Tax Compliance Act, which aims to prevent international tax evasion, but some critics say the law could be weakened by changes to whistleblower rules proposed by another bureau of the department: the Internal Revenue Service. [more]
PERSist, Winter 2013 - LIBOR (the “London Interbank Offered Rate”) is the world’s primary benchmark for short-term interest rates, providing the settlement rate for well over $300 trillion in financial products of various types. [more]
December 14, 2012 - The criminal prosecution of investment banks is too difficult to take on, high-profile attorneys have told IBTimes UK, echoing a similar sense of unease that has troubled regulators and lawmakers as they debate the overhaul of the global financial markets. [more]
DECEMBER 2, 2012 - UBS, the Swiss banking giant, is close to reaching settlements with American and British authorities over the manipulation of interest rates, the latest case in a multiyear investigation that has rattled the financial industry and spurred a public outcry for broad reform. [more]
LONDON - British authorities are set to announce significant changes to the interest rate at the heart of a recent manipulation scandal as they aim to improve the accuracy and reliability of the benchmark. [more]
U.S. prosecutors are seeking more time to complete their investigation of alleged interest-rate fixing, while banks ensnared in the probe are trying to turn the clock to their advantage as they battle lawsuits claiming damages from rate-rigging. [more]
June, 2009 - Workers’ rights, human rights and corporate governance are inextricably linked in today’s modern, globalized economy. In recent years, many institutional investors have come to the realization that it is in their interests as fiduciaries to seek to influence the corporate behavior of the companies in which they invest. This activism is motivated by the growing consensus that well-governed companies provide increased long-term investment returns. Further, institutional investors increasingly recognize that a company’s stakeholders include not only its shareholders, but also its employees, customers, and any other individuals impacted by the company’s activities. [more]
November 3, 2011 - A group of Singapore investors of Morgan Stanley's failed Pinnacle Notes have scored a major legal victory after a US federal judge ruled that their class action lawsuit can proceed in New York. [more]
You have to give the lawyers at Kirby McInerney a lot of credit. In a case called Dandong v. Pinnacle Performance, they represent a group of Singapore investors who bought complex notes issued by a Cayman Islands-based Morgan Stanley vehicle that sold the Singapore-registered securities only in Singapore, under a contract that called for disputes to be litigated in Singapore. You might think Morgan Stanley was pretty well insulated from a U.S. suit over the now-worthless notes, particularly in light of the U.S. Supreme Court's prohibition against applying U.S. securities laws to foreign-traded instruments in Morrison v. National Australia Bank. [more]
January 26, 2012 - Discovery proceedings have finally started more than a year after a group of Singapore investors sued Morgan Stanley for allegedly selling rigged Pinnacle Notes as 'safe, conservative' investments. [more]
January 4, 2012 - The government's ramped up enforcement of the Foreign Corrupt Practices Act is being fueled by an important new source of leads: SEC whistleblowers. [more]
November 10, 2011 - Financial transactions are seldom so ironic. Barely three months ago, MF Global (MFGLQ.PK) sold $325 million in 6.25% senior unsecured bonds due August 2016. Dubbed MF's "Key Man" bonds, the issuance featured an interest rate that would rise if Chairman and Chief Executive Officer Jon Corzine received a federal appointment from the U.S. president. [more]
Nov 3 (Reuters) - A federal judge ordered Morgan Stanley to defend against a lawsuit by Singapore investors that accused it of selling them risky debt that was designed to fail. [more]
Please click on the link to the right for the complete article. [more]
NEW YORK, Aug 1, 2011 - Law enforcement authorities have long relied on cash rewards to induce tipsters to report wrongdoing. The S.E.C. is finally trying to get in on the act. [more]
April 21, 2011 - Morgan Stanley is trying hard to keep a potentially embarrassing lawsuit, filed on behalf of a group of Singapore investors, from being heard in the US. [more]
April 20, 2011 - A Vienna hedge fund alleges that it was harmed in the derivatives market when some of the world's biggest banks manipulated a key benchmark interest rate, according to a lawsuit filed Friday in New York federal court. [more]
November 8, 2010 - Those who have charged the Obama administration and Congress with being hostile to free-market enterprise may take heart from a nugget in the bill. Deep within its thousands of pages it encourages whistleblowers to identify securities or commodities fraud by allowing them to share in the recoveries obtained from the information they provide. These provisions modify the Commodities Exchange Act. They don't create new bases for liability, but they do acknowledge, implicitly, that agencies can't do all the work and that it's therefore necessary to encourage civilian participation. [more]
December 4, 2008 - A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that's now choking world banking. [more]
An extensive new complaint in a lawsuit against Citigroup (C) charges that the banking giant misled investors about the size and risk of its housing-market wagers, raising questions about how early the bank knew it faced serious trouble from the assets that have plagued its balance sheet and stock price. [more]
December 5, 2008 - Judge Christina A. Snyder of the U.S. District Court for the Central District of California has granted final approval of a $48 million settlement in a class action suit brought against Union Oil Company of California (now a subsidiary of Chevron Corporation). [more]
July 12, 2007 - New York officials have asked a federal court to ignore a joint motion to throw out an antitrust case against a slew of drug companies accused of scamming Medicare, scoffing at arguments the case was "too large." [more]
KM News
Kirby McInerney LLP Announces $75 Million Settlement of Securities Class Action Against Wachovia >>
Kirby McInerney LLP Files Lawsuit Alleging 13 Banks Fixed Libor Rates >>
Court Upholds Major Claims Against Citigroup, Prince, Crittenden, and Rubin in KM-led Lawsuit >>
Kirby McInerney LLP Announces New Financial Whistleblower Group >>
Kirby McInerney LLP Procures $48 Million Settlement in Unocal Antitrust Litigation >>
