How quickly things change—and not for the better. In June, Fortune magazine reported that woman were “making strides” because a whopping 6.4% of CEOs were female. As sad as that figure is, it just got much worse. Avon recently announced that CEO Sheri McCoy will leave the 131-year-old cosmetics firm in March. This news broke just one day Oreo and Cadbury owner Mondelez announced that its longtime CEO Irene Rosenfeld will give up the top spot at the company later this year. Moreover, let us not forget that in June, Marissa Myers stepped down as the CEO of Yahoo (now known as Altaba). Each of the CEO’s faced harsh criticism from activist shareholders during her tenure. And so, for now, we are down to 5.8% female representation of woman in Fortune 500 companies. Some strides.
Read MoreIn United States v. Bray, 853 F.3d 18 (1st Cir. 2017), defendant Robert Bray (”Defendant”) appealed his conviction for insider trading. The First Circuit affirmed the jury’s guilty verdict for criminal securities fraud, finding that sufficient evidence supported the jury’s findings and that an error in the jury instructions was inconsequential.
The prosecution alleged Defendant asked for, and received, nonpublic information from Chris O’Neill (“O’Neill”) after stating he needed to make a “big score” to fund a real estate project and asking for any “bank stock tips”.
Read MoreIn In Re Hedayati, Securities Exchange Act Release No. 80238 (admin proc Mar. 14, 2017), the Securities and Exchange Commission (“SEC”) issued an order instituting public administrative and cease-and-desist proceedings against Nima Hedayati (“Hedayati”) for alleged violations of Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder. In anticipation of the proceedings against him, Hedayati submitted, and the SEC accepted, an Offer of Settlement (“Offer”), in which he neither admitted nor denied the allegations.
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