SEC wins 10-year battle to snare stock promoter; Robert Brennan hoped to outlast agency, victors say

Article Abstract:

Securities and Exchange Commission regulators expressed satisfaction with a $71.5 million judgment against Robert Brennan and his company, First Jersey Securities, after ten years of litigation. Brennan and his attorneys used every conceivable trick to delay the prosecution, and now plan to appeal the judgment, saying authorities delayed the case while interest accumulated, eventually totalling $50 million of the judgment's total value. The company manipulated penny stocks, defrauding investors.

United States, Cases, Manipulation (Securities), Brennan, Robert E.

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War over securities bill heats up in California; both sides in TV ad blitz. Are lawyers poised to invade?

Article Abstract:

Proposition 211, on the California ballot in Nov 1996, would for the first time allow punitive damages in securities fraud actions. Accountants and other professionals would again be liable and any regulation of legal fees would be prohibited, as would any indemnification of corporate officers and directors. Opponents of the measure have raised millions of dollars and claim the measure would make the new federal law restricting securities fraud class actions less effective.

Laws, regulations and rules, Remedies, California, Tort reform, Exemplary damages, Punitive damages, Securities fraud

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Corporate attorneys had a good year in the IPO market

Article Abstract:

Corporate attorneys handling public offerings experienced a profitable year in 1992. $39.9 billion were brought in with initial public offerings (IPO), more than twice the 1991 figure. About 500 already existing public companies sold $33 billion in new shares. Of the 20 most important deals, five came from foreign companies, and the business globalization trend continued as well.

Practice, Corporation law, Going public (Securities), Initial public offerings, 1992 AD

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