Free Speech, Due Process and Trial by Jury
The SEC charged Houston investment adviser James C. Tao of Presidio Venture Capital with misappropriating funds and making material misstatements to those who contributed to the private equity fund he created. Court records show Tao agreed to settle with the SEC instead of face trial and will pay $314,000 in fines and disgorgement.
Houston businesses last year accounted for seven, or about one-fourth of the 26 cases brought by the Justice Department under the Foreign Corrupt Practices Act. Over the past decade, Houston federal court has become one of the busiest in the nation for cases involving foreign bribery cases in large part because of the concentration of energy companies that do business around the world. The Houston Chronicle has an in-depth report.
Federal prosecutors in Dallas have dismissed the criminal case against John Rayne Rivello, a former U.S. Marine who allegedly sent a seizure-inducing Twitter message to a Newsweek journalist who published negative articles about then President-elect Donald Trump. Defense attorney David Gerger told The Texas Lawbook in an exclusive interview that the federal charges simply did not meet the facts alleged.
U.S. District Judge Jane Boyle swore in Erin Neely Cox on Friday as new United States Attorney for North Texas. Cox, in an exclusive interview with The Texas Lawbook, said she "had a good first day.” “I told the staff Friday that I plan to go slow as fast as I can," she said. “My plan is to spend the next 60 to 90 days meeting with our team, leaders of local federal law enforcement and federal judges” to help understand their needs and help “determine priorities." The Texas Lawbook has full details.
Clinton Edgar, a veteran lawyer of the state security's agency and Texas Tech law grad, has been appointed the new deputy commissioner of the Texas State Securities Board.
Texas officials sued two Big Willy’s in Dallas-Fort Worth and Tejano Mart in Laredo on Monday for allegedly charging customers excessive prices for gasoline – ranging from $4 to $10 a gallon – in the days before and after the storm hit South Texas.
The SEC has created a special committee to study possible new regulatory improvements in the world of corporate bond and municipal securities markets and SMU finance professor Kumar Venkataraman is one of the 23 members.
The SEC has charged a former Apache Corp. petroleum engineer with insider trading. The SEC says Christopher Lollar has settled allegations that he “traded on nonpublic information” by paying $435,809.50 in penalties and disgorgement.
Houston lawyers Shaun Clarke and Dane Ball demanded last week that corruption charges against Texas Rep. Dawnna Dukes be immediately dismissed. On Monday, Travis County prosecutors agreed, dropping all 15 felony and misdemeanor counts against the 12-term Texas House member.
The Trump Administration has nominated cybersecurity expert and former prosecutor Erin Nealy Cox to be the next U.S. Attorney for the Northern District of Texas.
The SEC has suspended the trading of securities of Addison-based Grupo Resilient International in an apparent concern over the accuracy of some of the company’s press releases. The federal agency states that it has “questions regarding the adequacy and accuracy of statements” Grupo officials made in a Sept. 7 press release regarding the company’s efforts to help disaster recovery efforts in South Texas related to Hurricane Harvey.
Three Texas businesses – two service stations and one motel owner – violated state consumer protection laws prohibiting price gouging during times of natural disaster, the state attorney general announced Tuesday. The state has received more than 3,000 complaints of price gouging since Hurricane Harvey devastated South Texas.
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