Legal Eagle Review
Justice Department Reaches Settlement Agreement with the Puerto Rico Police Bureau on Behalf of Three Puerto Rico Army National Guard Members
- Details
- Written by DOJ
The Department of Justice announced on Friday that it has reached a settlement agreement with the Puerto Rico Police Bureau (PRPB) that resolves allegations that the PRPB violated the employment rights of Puerto Rico Army National Guard Members Second Lieutenant Wilfredo Cruz Rivera, Sergeant Jose R. Bernal Martinez, and Sergeant Angel L. Martinez Toro under the Uniformed Services Employment and Reemployment Rights Act (USERRA). USERRA safeguards the rights of uniformed servicemembers to receive the full benefits of their employment, including promotional opportunities, following the fulfillment of their military service obligations.
SEC Charges Hedge Fund Adviser With Deceiving Investors by Inflating Fund Performance
- Details
- Written by LER
The Securities and Exchange Commission announced that it has charged New York-based investment adviser Premium Point Investments LP with inflating the value of private funds it advised by hundreds of millions of dollars. The SEC also charged Premium Point’s CEO and chief investment officer Anilesh Ahuja as well as Amin Majidi, a former partner and portfolio manager at the firm, and former trader Jeremy Shor.
SEC Levies Fraud Charges Against Texas-Based Municipal Advisor, Owner for Lying to School District
- Details
- Written by LER
The Securities and Exchange Commission announced it charged a registered municipal advisor and its owner with defrauding a south Texas school district in connection with multiple municipal bond offerings.
Hedge Fund Firm Charged for Asset Mismarking and Insider Trading
- Details
- Written by SEC
The Securities and Exchange Commission announced the hedge fund advisory firm Visium Asset Management LP has agreed to settle charges related to asset mismarking and insider trading by its privately managed hedge funds and portfolio managers. Separately, the firm’s CFO agreed to settle charges that he failed to respond appropriately to red flags that should have alerted him to the asset mismarking.
Justice Department Reaches Settlement with Minnesota Bank to Resolve Allegations of Lending Discrimination
- Details
- Written by DOJ
The Justice Department today settled its suit against KleinBank, resolving allegations that the bank engaged in lending discrimination by “redlining” predominantly minority neighborhoods in and around the Twin Cities of Minneapolis-St. Paul, Minnesota. “Redlining” is a term describing the illegal practice in which lenders intentionally avoid providing services to individuals living in predominantly minority neighborhoods because of the race or national origin of the residents of those neighborhoods.
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