Securities

  • October 10, 2024

    Suits Over JPMorgan Cash Sweeps Program Merged In NY

    A New York federal judge has combined two proposed class actions accusing JPMorgan Chase of underpaying interest on customers' cash sweep accounts, a claim multiple banking giants are currently facing in consumer and regulatory actions.

  • October 10, 2024

    Ripple Labs Files Cross-Appeal Of Judgment In SEC Suit

    Blockchain firm Ripple Labs on Thursday notified a New York federal judge of its intention to cross-appeal the judgment in its U.S. Securities and Exchange Commission enforcement case after the regulator kicked the decision to the Second Circuit last week.

  • October 10, 2024

    Proskauer Adds Akin Knowledge Management Ace In NY

    Proskauer Rose LLP is expanding its private funds team, bringing in an Akin Gump Strauss Hauer & Feld LLP knowledge management expert as a partner in its New York office.

  • October 10, 2024

    Holland & Knight Grows Philly, NY Offices With Insurance Pros

    A pair of attorneys specializing in advising clients on insurance technology matters have moved their practices this week from Goodwin Procter LLP to Holland & Knight LLP's offices in New York and Philadelphia.

  • October 10, 2024

    TD Bank To Pay $3.1B, Face Asset Cap Over AML Failures

    TD Bank will pay about $3.1 billion to U.S. authorities and face growth restrictions on its U.S. operations as part of criminal and civil settlements announced Thursday over serious alleged anti-money laundering violations at the Canadian bank.

  • October 10, 2024

    Ex-Mayor Can't Reduce 6-Year Term In Fraud, Graft Case

    A former Massachusetts mayor serving six years in prison for fraud and corruption has failed to raise a compelling argument to cut short the "already generous sentence" imposed, according to a Boston federal judge.

  • October 09, 2024

    Top Bank Lobbyist Touts Basel Endgame, CFPB Court Wins

    The head of the nation's largest banking industry trade group took a victory lap on Wednesday for beating back steep proposed bank capital hikes and halting other recent Biden administration banking regulations in court, pledging to continue its muscular advocacy for banks as the election nears.

  • October 09, 2024

    Team Of 3 Firms Seeks To Lead UBS Cash Sweep Case

    Two UBS customers suing the investment bank on allegations of shortchanging them with low-yielding cash sweep accounts moved Tuesday to consolidate their proposed class actions in New York federal court and install three firms at the helm.

  • October 09, 2024

    Feds Target Crypto Manipulation, Wash Trades In Novel Action

    Massachusetts federal prosecutors announced charges against 18 individuals and cryptocurrency firms on Wednesday in a first-of-its-kind set of actions targeting alleged manipulation of digital asset markets through wash trading and other tactics. 

  • October 09, 2024

    Hedge Fund Agrees To Drop Spoofing Claims Against TD Bank

    Broker-dealer affiliates of TD Bank will no longer face a hedge fund's claims that they manipulated markets by placing trade orders they never intended to fulfill, the parties told a Manhattan federal judge.

  • October 09, 2024

    Gensler Mum On Future As AI, Crypto Rules Await Action

    U.S. Securities and Exchange Commission Chair Gary Gensler declined to comment Wednesday on his or the agency's future should former U.S. President Donald Trump win a second term in office this November, even as questions remain about the post-election future of proposed regulations, like those that would safeguard crypto assets and crack down on the use of predictive data analytics.

  • October 09, 2024

    SEC Equity Trading Reforms Spark DC Circ. Challenge

    The U.S. Securities and Exchange Commission is facing a legal challenge in the D.C. Circuit over recent equity trading regulatory changes that allow stocks to be quoted in half-penny increments and lower access fee caps. 

  • October 09, 2024

    Electronics Co. Hid Auto Segment Slump, Investor Claims

    Electronic equipment manufacturing company Methode Electronics has been hit with a proposed class action alleging it concealed the full extent of sagging sales in its automotive division, in which General Motors was a top client.

  • October 09, 2024

    SEC Awards $5M To 3 Whistleblowers, Denies Award To 4th

    The U.S. Securities and Exchange Commission awarded more than $5 million to three unidentified whistleblowers while denying a fourth applicant's bid for a payout, in a partially redacted order saying the applicant's provided information did not cause the commission to open an investigation or inquiry.

  • October 09, 2024

    Bitcoin Miner Misled Investors About Biz Prospects, Suit Says

    Bitcoin mining operation Iris Energy Ltd. and three of its executives were hit with a shareholder suit in New York federal court alleging they misled investors about the company's high-performance computing and data center business prospects, particularly at a site in Texas that allegedly lacks infrastructure to support the business.

  • October 09, 2024

    FTX Exec Wants Another Prison Date Delay Over Dog Attack

    Former FTX executive Ryan Salame has again asked the court to delay his surrender date to begin his prison term from this Friday to Dec. 7, as he purportedly continues to undergo medical treatment and recover after being mauled by a German shepherd while visiting a friend's house in June.

  • October 09, 2024

    Duane Morris Adds Corporate, Banking Partner In New York

    Duane Morris LLP has brought on a former Stinson LLP partner for its corporate practice group in New York, the firm said Wednesday.

  • October 09, 2024

    Sullivan & Cromwell Dropped From FTX Investor Suit

    FTX customers dismissed Sullivan & Cromwell LLP from ongoing multidistrict litigation over the crypto exchange's collapse on Wednesday, after an investigation by the customers' counsel into the firm and dialogue with the FTX bankruptcy estate and appointed examiner resolved concerns about the law firm's conduct. 

  • October 09, 2024

    Disbarred Atty Admits To Defrauding Investors, DOJ Says

    A disbarred attorney has pled guilty in connection with a financial services scheme that defrauded investors out of more than $1 million, New Jersey's U.S. attorney announced Wednesday.

  • October 09, 2024

    Disbarred Calif. Atty To Pay $14M Over Crypto Ponzi Scheme

    A disbarred California attorney has been ordered by a Nevada federal judge to pay nearly $14 million in restitution for his role in promoting a $9.5 million cryptocurrency Ponzi scheme.

  • October 08, 2024

    Genting Unit Used Bahamas Resort To Hide Fraud, Suit Says

    A Bahamanian real estate development company on Monday sued a U.S. company organized under destination resorts and casino giant Genting Group, saying in a Florida federal complaint that the Genting company used a resorts in the Bahamas as a "financial wasteland" that obscured fraudulent activities.

  • October 08, 2024

    Texas Looks To Sink Suit Challenging Anti-ESG Law

    Texas officials have asked a federal court to toss claims brought against them over a law restricting state investments with financial firms and businesses that want to reduce their reliance on fossil fuels, arguing they have sovereign immunity and the law doesn't violate the First Amendment.

  • October 08, 2024

    PetroSaudi Says US Not Entitled To All Of $380M Award

    A PetroSaudi unit said it wants a California federal court to make clear that only 5% of funds should go to the Biden administration in a dispute over the proceeds of a nearly $380 million arbitral award allegedly tied to embezzled 1Malaysia Development Berhad funds.

  • October 08, 2024

    SEC Texting Sweep: Message Received, Guidance Needed

    After financial firms have paid billions of dollars in recordkeeping fines around employees' use of off-channel communications, recent criticism of the U.S. Securities and Exchange Commission's approach by its Republican members has drawn support from attorneys who worry the agency is pushing for an impossible standard of perfect compliance.

  • October 08, 2024

    OneCoin Co-Conspirator Wants No Prison For Laundering Plea

    A business consultant and investor who pled guilty to laundering approximately $35 million as part of the global OneCoin cryptocurrency scam has asked a New York federal judge for a probationary sentence and a minimal fine, arguing that he had a minor role in the scheme compared to other defendants and has lived an otherwise law-abiding life.

Expert Analysis

  • Analyzing Advance Notice Bylaws On 'Clear' Or 'Cloudy' Days

    Author Photo

    In Kellner v. AIM ImmunoTech, the Delaware Supreme Court recently clarified the framework for judicial review of advance notice bylaws adopted, amended or enforced on "clear" or "cloudy" days, underscoring the responsibility of boards to ensure that their scope does not overreach or prevent the possibility of a contested election, say attorneys at Venable.

  • Navigating Antitrust Considerations In ESG Collaborations

    Author Photo

    The intersection of ESG goals and antitrust laws presents a complex challenge for businesses and their counsel — but by creating clear frameworks for collaboration, adhering to established guidelines and carefully considering the competitive implications of their actions, companies can work toward sustainability while mitigating legal risks, say attorneys at Morgan Lewis.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

    Author Photo

    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • Jarkesy's Impact On SEC Enforcement Will Be Modest

    Author Photo

    Though the U.S. Supreme Court’s recent U.S. Securities and Exchange Commission v. Jarkesy decision found that fraud defendants have a constitutional right to a jury trial, the ruling will have muted impact on the agency’s enforcement because it’s already bringing most of its cases in federal court, say Jeremiah Williams and Alyssa Fixsen at Ropes & Gray.

  • Series

    Rock Climbing Makes Me A Better Lawyer

    Author Photo

    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

    Author Photo

    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Examining Chancery's Relaxed New Confidential Filing Rules

    Author Photo

    The Delaware Court of Chancery’s overhauled Rule 5.1, which governs confidential filings, risks permitting nonconfidential information to be shielded from public review unless and until a challenge notice is filed — but several potential solutions could help to override this issue, says Delaware attorney Daniel J. McBride.

  • Opinion

    After Jarkesy, IRS Must Course-Correct On Captive Insurance

    Author Photo

    The U.S. Supreme Court’s recent Securities and Exchange Commission v. Jarkesy decision has profound implications for other agencies, including the IRS, which must stop ignoring due process and curtailing congressional intent in its policing of captive insurance arrangements, says Peter Dawson at the 831(b) Institute.

  • Dissecting Treasury's Call For Input On AI In Financial Sector

    Author Photo

    The U.S. Department of the Treasury's request for comments on the potential benefits and challenges AI may pose to the financial services sector, which asks how stakeholders are addressing and mitigating increased fraud risks, reflects the federal government's continued interest in AI's effects across the economy, say attorneys at Hogan Lovells.

  • NYSE Delisting May Be The Cost Of FCPA Compliance

    Author Photo

    ABB’s recent decision to delist its U.S. depository receipts from the New York Stock Exchange, coupled with having settled three Foreign Corrupt Practices Act enforcement actions, begs the question of whether the cost of FCPA compliance should factor into a company's decision to remain listed in the U.S., says John Joy at FTI Law.

  • CFTC Action Highlights Necessity Of Whistleblower Carveouts

    Author Photo

    The U.S. Commodity Futures Trading Commission's novel settlement with a trading firm over allegations of manipulating the market and failing to create contract carveouts for employees to freely communicate with investigators serves as a beacon for further enforcement activity from the CFTC and other regulators, say attorneys at Davis Wright.

  • Series

    Being A Luthier Makes Me A Better Lawyer

    Author Photo

    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Half-Truths Vs. Omissions: Slicing Justices' Macquarie Cake

    Author Photo

    The U.S. Supreme Court's recent ruling in Macquarie v. Moab provides a road map for determining whether corporate reports that omit information should be considered misleading — and the court baked it into a dessert analogy that is key to understanding the guidelines, say Daniel Levy and Pavithra Kumar at Advanced Analytical Consulting Group.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

    Author Photo

    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • 3 Areas Of Enforcement Risk Facing The EV Industry

    Author Photo

    Companies in the EV manufacturing ecosystem are experiencing a boom in business, but with this boom comes increased regulatory and enforcement risks, from the corruption issues that have historically pervaded the extractive sector to newer risks posed by artificial intelligence, say attorneys at MoFo.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Securities archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!