Corporate Lawyers: TX AG Paxton ’s Defense of Pro-Insurance Industry Law is Misleading, Wrong

Texas Attorney General Ken Paxton and lawyers representing large and midsized businesses in the state are providing contradictory information about the impact of a new law governing the rights of people and businesses to legally challenge insurance companies decision in paying property owners in storm-related losses. Paxton says new law is no big deal and that the lawyers are deliberately misleading their clients.

August 31, 2017 Mark Curriden

Federal & State Task Force Created to Combat Hurricane Harvey Fraud Schemes

Federal law enforcement authorities announced late Thursday that they have formed a task force with state and local officials in South Texas designed to tackle fraud schemes targeting victims of Hurricane Harvey. At the same time, SEC Regional Director Shamoil Shipchandler tells The Texas Lawbook that the federal agency is closely watching the impact that Hurricane Harvey and the subsequent flooding is having – and potentially could have – on the corporations and financial advisers that it regulates.

August 31, 2017 Mark Curriden

New Texas Pro-Insurance Law may Punish Hurricane Harvey Victims

Tens of thousands of Texas homeowners and business owners who have suffered billions of dollars in property damages from Hurricane Harvey may soon discover that a new state law eliminates long-time legal incentives for insurance companies to pay victims quickly and fully for their losses.

August 28, 2017 Mark Curriden

SEC Names Jessica Magee as FWRO Head of Enforcement

The U.S. Securities and Exchange Commission Wednesday named Jessica Magee, a tough-mind prosecutor, to become the agency’s new associate director of enforcement in its Fort Worth Regional Office. The Texas Lawbook has the details.

July 26, 2017 Mark Curriden

Yogurt CEO Settles SEC Charges of Immigrant Investor Program Abuse

The SEC’s Fort Worth Office charged Fsmoothie and yogurt franchises operator Adam Ogden with wrongly using investor funding intended to create jobs through the EB-5 Immigrant Investor Program. Juiceblendz and Yoblendz CEO Ogden agreed to pay $1.2 million in fines and restitution to resolve charges that he violated federal securities laws when he misused investor funds.

December 29, 2016 Mark Curriden

SEC Slaps SandRidge Energy for $1.4 Million for Illegal Retaliation Against Whistleblower

Oklahoma City-based SandRidge Energy Inc. has agreed to pay a $1.4 million fine after the U.S. Securities and Exchange Commission accused the bankrupt oil and gas company of firing an

December 20, 2016 Mark Curriden

NOV Pays $25 Million over Alleged Trade Sanctions Violations

Federal prosecutors in Houston have officially agreed to allow National Oilwell Varco to avoid criminal and civil prosecution for dozens of trade sanction violations the Houston-based oil and gas driller allegedly committed in Iran, Cuba and Sudan. NOV signed a non-prosecution agreement on Nov. 9, which requires the company to pay $25 million in fines. The Texas Lawbook has the details.

November 15, 2016 Mark Curriden

Texas AG Paxton Seeks Dismissal of SEC Charges

Texas Attorney General Ken Paxton asked a federal judge to dismiss recent charges of securities fraud filed against their client by the U.S. Securities and Exchange Commission. In court documents filed Friday, Paxton’s lawyers argue that the SEC’s newest allegations must be thrown out because they do “not alleged sufficient facts to support its theory that Mr. Paxton had a legal duty to disclose any sales commission arrangement.”

November 4, 2016 Mark Curriden

SEC Refiles Securities Fraud Charges Against Texas AG Paxton

The U.S. Securities and Exchange Commission filed new, amended charges Friday afternoon accusing Texas Attorney General Ken Paxton of securities fraud.

October 21, 2016 Mark Curriden

SEC: Alternative Fuels Company in Texas and Ex-CEO Gave Incomplete Info to Investors

The U.S. Securities and Exchange Commission announced Tuesday that it has charged and settled allegations that a Pasadena, Texas-based bio fuels company and its former chief executive officer failed to disclose to investors essential financial assumptions that were critical to the company’s viability.

September 27, 2016 Mark Curriden

SEC Hits Oil Services Firm Again for Deceptive Practices

For the second time in three years, the U.S. Securities and Exchange Commission has nailed oil services company Weatherford International, which has substantial operations in Houston, with illegal busiess practices. This time, Weatherford agreed to pay $140 million in penalties to settle charges that it inflated earnings by using deceptive income tax accounting.

September 27, 2016 Mark Curriden

SEC Accuses Cooperman and Omega of Insider Trading on Atlas Pipeline Deal

The SEC claims that Leon Cooperman and his $5 billion New York hedge fund used confidential, non-public information when they purchased large quantities of Atlas Pipeline Partners stock in 2010. Atlas is now owned by Houston-based Targa Resources.

September 21, 2016 Mark Curriden