A partner and former member of the executive committee at Sidley Austin LLP was accused by the Illinois Attorney Registration and Disciplinary Commission of misappropriating $119,000 through a fund for expenses established for a client.
Lawyers for Goldman Sachs Group Inc. will face Lorin Reisner, the deputy director of enforcement for the Securities and Exchange Commission , in the agency’s lawsuit over the bank’s use of subprime mortgage-backed securities.
Morgan Stanley can pursue a fraud claim as it seeks to recover damages from Joseph “Chip” Skowron, a former hedge fund manager serving a five-year prison term for insider trading, a federal judge ruled.
Proskauer Rose LLP was sued for employment discrimination in New York by former Chief Financial Officer Elly Rosenthal, who accused the law firm of firing her after she took leave for breast cancer treatment.
EMC Corp. founder Richard J. Egan used a sham tax shelter to cheat the U.S. government out of more than $62 million starting the same year former President George W. Bush named him ambassador to Ireland, a federal judge ruled.
Three former New Century Financial Corp. executives agreed to pay more than $1.5 million to settle U.S. regulatory claims that they failed to disclose risk in the firm’s subprime-mortgage business before it collapsed in 2007.