Jake Walker is a partner of Block & Leviton LLP. He graduated from the University of Michigan School of Law, J.D. ’10, cum laude, and Babson College, B.S. ’01, Business Administration. His practice areas include federal securities litigation. His bar admissions are: California, Massachusetts, Supreme Court of the United States, U.S. Court of Appeals for the First, Fifth, Eighth, Ninth Circuit, U.S. District Court, Northern District of California, U.S. District Court, Central District of California, U.S. District Court, Southern District of California, U.S. District Court, District of Colorado, U.S. District Court, and District of Massachusetts.
FindLaw, 14 August 2012
In a suit against Merrill Lynch and others, claiming market manipulation, fraud, control person liability, and negligent misrepresentation, district court’s judgment in favor of the defendants is affirmed where: 1) the market manipulation claims fail for the same reasons identified in Wilson v. Merrill Lynch & Co., which held that the same website disclosure at issue in this case contained sufficient information about Merrill Lynch’s support bidding practices to preclude a market manipulation claim; 2) district court properly dismissed the California Corporations Code claims as plaintiff fails to allege any injury or unlawful conduct in California; and 3) district court properly dismissed the negligent misrepresentation claims against the Rating Agency defendants as plaintiff fails to allege an actionable misrepresentation under New York law.
These Defendants, acting in the course and scope of their employment by the United States of America as duly authorized Commissioners of the Securities and Exchange Commission, a federal agency, through their acts and omissions knowingly, consciously, wrongly, without compensation and without due process of law have effected a taking of property from each of the named Plaintiffs and all who are similarly situated.
PDF (18 Pages): CMKM Lawsuit Against the SEC 9 January 2010