UK Gambling Company Under Grand Jury Investigation
A U.K.-based online gambling public company was subject to a grand jury investigation involving the DOJ, FBI and IRS which ultimately led to an indictment and Congressional action.
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Litigation, Culture & Entertainment
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Crisis & Issues Management, Litigation, Financial Services
Hedge Fund Faces Accusations of Insider Trading
The Department of Justice launched a major investigation into insider trading across Wall Street. Ultimately, the number of prosecutions would be in the dozens. One of the first major cases involved a hedge fund manager who had obtained non-public, material information from a third-party expert who was under contract advising a variety of companies. When the Department of Justice began its inquiry into this manager and his suspected trades, the manager denied any wrongdoing and also induced the third-party expert to do the same.
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Litigation
US Executive Contests an Interpol Red Notice
A U.S. executive was caught in an emerging market political power struggle which resulted in wrongful legal action against him in an ex-U.S. court vulnerable to political pressure. The foreign government then obtained an Interpol Red Notice against him.
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Crisis & Issues Management, Litigation, Financial Services
Billion-Dollar Hedge Fund Faces Risk of Fund Liquidation
A multi-billion dollar fund faced multiple challenges converging on management. A former partner had been criminally indicted; both regulators and law enforcement questioned the fund’s investment practices; market conditions had deteriorated, which undermined valuations. The news media swarmed in creating a reputation risk, and redemptions from investors had built as they lost confidence in the fund.
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Crisis & Issues Management, Litigation, Financial Services
Financial Services Company Faces SEC Legal Action
This financial services company – with a notable brand among institutions and retail investors – was facing legal actions from individuals and government regulators, including the SEC. Silence in the media wasn’t working; critics were gaining the upper hand. News coverage was hurting morale at the firm, and clients were beginning to withdraw their money.
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