ALJ: Penson Financial CEO Did Nothing Wrong in Texas Naked Short Sales Case

An administrative law judge ruled Thursday that two Colleyville financial executives did little-to-nothing wrong in their leadership positions at Dallas-based Penson Financial, a now-defunct clearing service for U.S. brokerage houses dealing in stock trades. The case is a significant win for Haynes and Boone, which led the defense team and a major loss for the SEC, which lost only one of the 23 cases it filed with ALJs. By comparison, the agency lost one-third of the cases it brought in federal court during the same time period.

March 20, 2015 Mark Curriden

Investors to Fight Greenberg, Hunton in Stanford Ponzi Scheme Case

Investors are going after the law firms, insurance brokers and financial advisors that worked with Allen Stanford during his infamous Ponzi Scheme, claiming they played heavy roles in Stanford’s ability to defraud billions of dollars from roughly 20,000 investors.

February 9, 2015 Natalie Posgate

Stanford Receiver Seeks Millions from Prominent Political Advisers

A federal trial is underway in Dallas in which Ralph Janvey seeks to force several political officials to return millions of dollars in fees they were paid as advisers. “This is such an important case, really out of proportion to the dollars involved,” said Kevin Sadler, who represents Janvey. Lawrence Bowman, lawyer for Peter Romero, the former ambassador to Ecuador said his client is an honorable man who did nothing wrong."

February 9, 2015 Mark Curriden

TPG Capital Hires Fort Worth SEC Lawyer as Corporate Compliance Leader – UPDATE

JoAnn Harris is about to get a big raise. The private equity firm is expected next week to name the SEC assistant director of enforcement as its new deputy director of corporate compliance. “TPG’s footprint is around the globe,” Harris told The Texas Lawbook. “It is definitely going to be a challenge, but it will be fun.”

January 23, 2015 Mark Curriden

Dallas Airmotive Pays $14 Million Criminal Fine for Bribing Latin American Officials – UPDATED

Grapevine-based Dallas Airmotive Inc. admitted late Wednesday to federal prosecutors that it paid bribes to government officials in Argentina and Brazil in order to obtain lucrative airplane engine maintenance contracts.

December 11, 2014 Mark Curriden

UPDATED – Judge Orders Life Partners, Executives to Pay $46.9 Million

An Austin federal judge ordered Waco-based Life Partners Holdings and its CEO and general counsel to pay $46.9 million for violating securities laws. In a scathing, 22-page order, U.S. District Judge James Nowlin made statements that surprised lawyers for both Life Partners and the Securities and Exchange Commission, which brought the lawsuit in 2012. The Texas Lawbook has the details.

December 3, 2014 Natalie Posgate

NTSB New Drone Decision Impacts Texas Energy, Utility and Real Estate Sectors

The National Transportation Safety Board's new decision granting regulatory authority of unmanned aircraft systems is a blow to businesses seeking to use drones in a variety of industries. It is now clear that Texas energy and utility companies eyeing drone technology for pipeline or power-line inspections, or commercial agriculture operators considering drones for crop inspections, will need to seek exemptions from the FAA.

December 1, 2014 Mark Curriden

SEC Brings Fraud Charges on Houston Investment Firm – Updated

The SEC claims Robare Group Ltd. failed to disclose a conflict of interest to its clients when it recommended they invest in particular mutual funds and in turn received compensation from the broker that was selling the funds.

September 2, 2014 Natalie Posgate

Two Former Xerox/ACS Executives and SEC Settle Charges for $675,000

The former executives were represented by two Dallas attorneys: Paul Coggins of Locke Lord and Danny Ashby of K&L Gates.

August 28, 2014 Natalie Posgate

Cuban’s Long-time Stockbroker Takes the Witness Stand

Mark Cuban’s long-time stockbroker told a federal court jury Tuesday that corporate compliance officials at UBS Financial Services raised no red flags or concerns about the legality of Cuban’s sale

August 1, 2014 Natalie Posgate

SEC's Key Witness: Cuban 'Screwed'

The U.S. Securities and Exchange Commission’s star witness against Mark Cuban testified Wednesday that he made it clear that the information he provided the Dallas Mavericks owner nine years ago

August 1, 2014 Natalie Posgate & Mark Curriden

Meet the Lawyers in the John Wiley Price Case – Updated

Meet Billy Ravkind, Cheryl Wattley and Tom Mills.

July 25, 2014 Natalie Posgate