Legal Opinion
Securities & Exchange Commission v. Wyly
District Court, S.D. New York
Decided March 31, 2011No. 10 Civ. 5760 (SAS)PublishedCited by 12 opinions
1Opinion of the Court
OPINION AND ORDER
SHIRA A. SCHEINDLIN, District Judge.
I. INTRODUCTION
On July 29, 2010, following a six-year investigation into matters spanning almost two decades, the Securities and Exchange Commission (“SEC”) filed this suit alleging thirteen Claims for securities violations by billionaire brothers Samuel Wyly and Charles J. Wyly (together, the “Wylys”), their attorney Michael C. French (“French”), and their stockbroker Louis J. Schaufele III (“Schaufele”). The gist of the fraud alleged is that, from 1992 through at least 2005, the Wylys hid their ownership of and trading activity in the…
2Cases cited78 opinions
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- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
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- American Pipe & Construction Co. v. UtahSupreme Court of the United States · 1974
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3Cited by12 opinions
- In re Facebook, Inc., IPO Securities & Derivative LitigationDistrict Court, S.D. New York · 2013
- Securities and Exchange Commission v. MillerCourt of Appeals for the Second Circuit · 2015
- United States v. WaltersCourt of Appeals for the Second Circuit · 2018
- United States Securities & Exchange Commission v. VerdiramoDistrict Court, S.D. New York · 2011
- Securities & Exchange Commission v. WylyDistrict Court, S.D. New York · 2013
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