Securities

  • March 04, 2025

    Intel Beats Investor Suit Over 'Foundry' Losses, For Now

    Intel Corp. has beaten a proposed securities class action accusing it of misleading investors about the financial health of its so-called foundry segment, with the court finding Intel made all required disclosures regarding the segment's performance.

  • March 04, 2025

    NJ Judge Nixes Derivative Suit Over $38M Tech Co. Spinoff

    Top brass of a material-handling-equipment maker and the company's controlling shareholder no longer face a shareholder derivative action alleging that they breached their fiduciary duties with a plan to spin off assets to benefit the company's board chair.

  • March 04, 2025

    Bored Ape NFT Maker, Crypto Co. Say SEC Threats Are Over

    The crypto arm of trading firm DRW Holdings LLC and the company behind the celebrity-endorsed non-fungible token project known as the Bored Ape Yacht Club say that they are the latest in a string of digital asset firms to see the back of the U.S. Securities and Exchange Commission.

  • March 04, 2025

    PBMs Ask 8th Circ. To Pause FTC's Insulin Pricing Case

    Caremark Rx, Express Scripts and OptumRx have asked the Eighth Circuit to pause the Federal Trade Commission's in-house case accusing the pharmacy benefit managers of artificially inflating insulin prices as they push their constitutional claims against the agency.

  • March 04, 2025

    Chancery Finds Recent Precedent Backs Tesla's Texas Jump

    Elon Musk and Tesla on Monday beat a challenge in Delaware's Court of Chancery to the company's charter move to Texas, with fewer than two-thirds of shareholders approving, as the court invoked an opinion issued in November when a vice chancellor opened the door to The Trade Desk's exit to Nevada.

  • March 04, 2025

    UScellular, Investors Settle Suit Over Postpaid Phone Biz

    An Illinois federal judge said Monday that the parties in a shareholder suit accusing UScellular and its parent company of misleading investors about the health of their postpaid mobile phone segment have reported that they have reached a settlement in the case.

  • March 04, 2025

    Colo. Biotech, Founders Owe SEC $14.3M Over Fraud Claims

    A Colorado federal judge has ordered a biotech startup and two of its founders to pay the U.S. Securities and Exchange Commission roughly $14.3 million and barred them from serving as officers and directors of public companies after finding that they fraudulently raised over $10 million by overstating their own investments in the company.

  • March 04, 2025

    New US Atty Wants 6-Month Pause Of Cognizant Bribery Trial

    A federal judge has ordered the parties in a long-running Foreign Corrupt Practices Act case to file their positions Wednesday about how a 180-day adjournment would affect the Speedy Trial Act clock after a newly anointed U.S. attorney for the District of New Jersey asked to delay the trial of two former Cognizant Technology Solutions Corp. executives.

  • March 03, 2025

    Aspiration Founder Arrested For Alleged $145M Fraud Scheme

    Joseph Sanberg, co-founder of the celebrity-backed and sustainability-focused financial services company Aspiration Partners Inc., was arrested Monday over federal criminal allegations he schemed to defraud investor funds out of at least $145 million, federal prosecutors in California announced.

  • March 03, 2025

    SEC Expands Confidential Filing Options For Companies

    The U.S. Securities and Exchange Commission on Monday said it is expanding the range of filings that companies can submit for confidential review before such documents become public, predicting that the new accommodations will spur capital formation.

  • March 03, 2025

    Judge Tosses SEC Crypto Case For Lack Of US Ties

    Crypto founder Richard Heart has beaten a U.S. Securities and Exchange Commission suit over his Hex, PulseChain and PulseX crypto projects after the Brooklyn federal judge overseeing the case found the regulator failed to show enough stateside ties.

  • March 03, 2025

    FDIC Beats Bank's Constitutional Fight Over In-House Judges

    A Kansas federal judge tossed on Monday a local bank's constitutional challenge to administrative law judges presiding over the Federal Deposit Insurance Corp.'s $20.5 million anti-money laundering enforcement proceeding against the bank, ruling that the district court does not have the jurisdictional authority to hear the bank's Seventh Amendment claims.

  • March 03, 2025

    Adviser Funneled Investor Cash Into $300M Ponzi, Suit Says

    A Georgia financial adviser has been hit with a proposed class action alleging that she funneled investors into a company at the heart of what the U.S. Securities and Exchange Commission has called a $300 million Ponzi scheme.

  • March 03, 2025

    Broker Can't Use Jarkesy To Slip SEC's Pre-IPO Fraud Suit

    A New York federal judge on Monday ordered an unregistered broker-dealer and its managing member to comply with the U.S. Securities and Exchange Commission's administrative order requiring them to pay roughly $3.5 million to settle claims they made over $65 million selling interests in a portfolio of companies that hadn't yet gone public.

  • March 03, 2025

    SEC's Peirce Taps Ex-Willkie Partner For Crypto Task Force

    The U.S. Securities and Exchange Commission has hired a former Willkie Farr & Gallagher LLP partner into a leadership role in its new task force created to transform the agency's approach toward the cryptocurrency industry.

  • March 03, 2025

    Some 'ComEd Four' Bribery Counts Vacated Over Jury Charge

    An Illinois federal judge on Monday ordered a retrial on four bribery charges in the case against an ex-Commonwealth Edison executive and three lobbyists convicted of conspiring to bribe former Illinois House Speaker Michael Madigan, finding the jury was improperly instructed in the wake of a recent U.S. Supreme Court ruling but leaving intact the overarching conspiracy conviction.

  • March 03, 2025

    Jarkesy Can't Get Penny Stock Co. Out Of SEC Penalty

    The Second Circuit on Monday upheld the U.S. Securities and Exchange Commission's courtroom victory against a penny stock company found to have misled its investors about its financial state, ruling that the company couldn't lean on the U.S. Supreme Court's Jarkesy ruling to argue that a jury should have determined its punishment.

  • March 03, 2025

    Eckert Seamans Will Pay $38M To Par Funding Investors

    A Florida federal judge has signed off on a $38 million deal resolving legal malpractice claims against Eckert Seamans Cherin & Mellott LLC by investors who fell victim to a Ponzi scheme carried out by Par Funding, which enlisted the firm to help create the business model the lender ultimately used in the scheme.

  • March 03, 2025

    Chancery OKs Amended Suit In $8B Paramount Sale Fight

    Delaware's chancellor agreed Monday to the filing of an amended stockholder challenge to Paramount Global's $8.2 billion merger with Skydance Media and ordered responses by Tuesday from parties affected by a stockholder call for a fast-tracked probe of Paramount's response to an alternative, $13.5 billion offer.

  • March 03, 2025

    Kraken Joins Crypto Cos. Announcing SEC Case Dismissals

    Crypto exchange Kraken said Monday that the U.S. Securities and Exchange Commission is also walking away from its registration suit amid a bevy of crypto case dismissals and investigation closures that have come as part of a new approach to digital asset policy.

  • March 03, 2025

    Defendant Admits To 'Shell Factory' Pump-And-Dump Scheme

    The final defendant rounded up in the "Shell Factory Fraud" prosecution of a group that created fake shell companies as part of a pump-and-dump scheme pled guilty Monday in Miami to one count of securities fraud.

  • March 03, 2025

    3rd Circ. Preview: Litigation Funder, J&J Seek Relief In March

    The Third Circuit's case lineup this month will task panels with determining if an American litigation funder can keep its dispute with a German law firm in federal court, and whether Johnson & Johnson can decertify class claims accusing the company of artificially inflating its stock price by failing to disclose the alleged cancer risks of its talc products.

  • March 03, 2025

    Former SDNY Top Prosecutor Kim Returns To Private Sector

    Veteran white-collar defense lawyer Edward Kim, who most recently served as acting U.S. attorney for the Southern District of New York, said Monday he is returning to the firm he founded, Krieger Lewin LLP, which will be known as KKL.

  • March 03, 2025

    Coinbase Wants To Know SEC Spend On Crypto Enforcement

    Crypto exchange Coinbase wants to know how much the U.S. Securities and Exchange Commission spent on its "regulation-by-enforcement campaign" against crypto firms under previous Chair Gary Gensler, according to a Freedom of Information Act request submitted on Monday.

  • March 03, 2025

    White & Case Hires Litigator Trio In New York From Weil

    White & Case LLP announced Monday that it has continued its expansion in New York with the addition of a trio of litigators from Weil Gotshal & Manges LLP, including the co-head of Weil's global litigation practice.

Expert Analysis

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • A Look At Similarities Between SOX And SEC's Cyber Rule

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    Just as the Sarbanes-Oxley Act paved the way for greater transparency and accountability in financial reporting, the SEC's cybersecurity rule is doing much the same for cybersecurity, ensuring that companies are resilient in the face of growing cyber threats, says Padraic O'Reilly at CyberSaint.

  • Trump Rollback Of Biden Enviro Policies: What To Expect

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    Donald Trump's upcoming second presidential term will usher significant shifts in U.S. environmental and natural resource law and policy — and while the Biden administration is racing to secure its legacy, the incoming Trump administration is making plans to dramatically roll back most, if not all, of Biden's environmental initiatives, say attorneys at Beveridge & Diamond.

  • Class Actions At The Circuit Courts: November Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses six federal court decisions that touch on Rule 23 of the Federal Rules of Civil Procedure, and when individual inquiries are needed to prove economic loss.

  • 5 Areas Congress May Investigate After GOP Election Wins

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    With Republicans poised to take control of Congress in addition to the executive branch next year, private companies can expect an unprecedented uptick in congressional investigations focused on five key areas, including cryptocurrency and healthcare, say attorneys at Cahill Gordon.

  • Trump's 2nd Term May Be A Boost To Banking Industry

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    President-elect Donald Trump's personnel appointments could be instrumental in reshaping the financial regulatory landscape during his second administration, likely allowing for greater merger activity and halting or undoing some of the Biden administration's more restrictive financial services policies, say attorneys at Debevoise.

  • Why K-Cup Claims Landed Keurig In Hot Water With SEC

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    The U.S. Securities and Exchange Commission's recent settlement with Keurig Dr. Pepper for making incomplete statements regarding the recyclability of K-cup pods highlights the importance of comprehensive corporate disclosures, particularly with respect to ESG matters, say attorneys at BCLP.

  • Legislation Most Likely To Pass In Lame Duck Session

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    As Congress begins its five-week post-election lame duck session, attorneys at Greenberg Traurig break down the legislative priorities and which proposals can be expected to pass.

  • Predicting Shareholder Activism Trends In New Trump Admin

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    While President-elect Donald Trump has promised tax policies, deregulation and lax antitrust enforcement — which all fuel shareholder activism — a closer look at his first administration's track record suggests that his second presidency might be a mixed bag for activist investors and companies alike, say attorneys at Sidley.

  • What Trump's 2nd Presidency Could Mean For Crypto Sector

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    Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.

  • Putting NYDFS AI Cybersecurity Guidance Into Practice

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    New guidance from the New York Department of Financial Services explains how financial institutions should assess and mitigate cybersecurity risks associated with artificial intelligence, focusing on four main threats and highlighting how varying environments require specific mitigation measures, say attorneys at Saul Ewing.

  • Promoting Diversity In The Selection Of ADR Neutrals

    Excerpt from Practical Guidance
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    Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.

  • Series

    Playing Ultimate Makes Us Better Lawyers

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    In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron. 

  • Dissecting New Circuit Split Over SEC's Proxy Adviser Rule

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    The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.

  • E-Discovery Quarterly: Recent Rulings On Metadata

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    Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.

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