Try our Advanced Search for more refined results
Securities
-
July 19, 2024
Greenberg Traurig Adds Former SEC Regional Director In SF
A former regional director for the U.S. Securities and Exchange Commission's Salt Lake City office has left the public sector to join Greenberg Traurig LLP in San Francisco.
-
July 19, 2024
Chancery Keeps Masimo Meeting Date, Speeds Up Politan Suit
Masimo Corp. will not have to reschedule its Sept. 19 annual meeting in response to a lawsuit from Politan Capital Management LP, but will need to respond to some of the activist investor's concerns before the meeting takes place, a Delaware Chancery Court judge said Friday.
-
July 19, 2024
Galaxy's CryptoManufaktur Buy Boosts Assets To $3.3B
New York-based blockchain business Galaxy Digital Holdings Ltd. said Friday it has acquired blockchain node operator CryptoManufaktur LLC, with CryptoManufaktur's $1 billion in Ethereum assets under stake boosting Galaxy's total to $3.3 billion.
-
July 19, 2024
Cannabis Co. Gets Investor Fraud Suit Thrown Out
A New York federal judge has thrown out a consolidated class action alleging Canopy Growth Corp. misled investors about the financial prospects of a newly acquired subsidiary, saying the complaint fails to show that the company knew it was misleading investors.
-
July 19, 2024
Judge OKs $47.5M QuantumScape Shareholder Deal
A California federal judge granted preliminary approval to a $47.5 million deal ending class action allegations by QuantumScape investors that the company made misleading statements about the quality of its batteries.
-
July 18, 2024
5th Circ. Remands ESG Rule Row Citing Chevron's End
The Fifth Circuit on Thursday instructed a Texas federal court to reconsider a Biden administration rule allowing retirement plan advisers to consider environmental, social and governance factors when choosing investments, pointing to recent U.S. Supreme Court rulings that have "upended" the legal landscape.
-
July 18, 2024
Bizlato Founder Avoids More Time For Illicit Crypto Deals
The founder of Bitzlato Ltd. on Thursday was spared further incarceration for using the cryptocurrency exchange to process what prosecutors say was over $700 million in criminal proceeds, the latest case among many where judges factor in the vile conditions at Brooklyn's notorious federal jail, the Metropolitan Detention Center, as a reason for leniency.
-
July 18, 2024
Crypto Law Firm's SEC Challenge Met With Doubt At 9th Circ.
A Ninth Circuit panel appeared skeptical Thursday of a law firm's quest for a judgment that its use of the crypto asset ether doesn't offend securities laws, questioning whether the firm has shown it faces enough of a threat from the U.S. Securities and Exchange Commission to keep its case against the regulator alive.
-
July 18, 2024
4 Men Cop To $2M 'Instant Deposit' Robinhood Fraud
Four men have pled guilty in New York federal court to being involved in a scheme to steal millions of dollars from trading firm Robinhood by exploiting a program that gave them access to cash advances.
-
July 18, 2024
Chancery Awards $6M Stockholder Atty Fee In Moelis Suit
A Delaware vice chancellor granted a $6 million fee request on Thursday from attorneys who won a Chancery Court strike-down of a stockholder agreement granting Moelis & Co. founder Ken Moelis expansive control over the global investment bank's decisions.
-
July 18, 2024
LPL Reaps Benefits From Forced Cash Sweep, Suit Says
LPL Financial was hit with a putative class suit by a customer who claims the broker-dealer automatically moves customers' uninvested cash into its cash sweep programs, primarily benefiting the firm at the expense of its clients.
-
July 18, 2024
Feds Collar Would-Be 'Smart Ring' CEO For Investor Fraud
Los Angeles federal prosecutors have charged a Florida woman with securities and wire fraud with allegations detailing a $2 million investment scheme involving a purported "smart ring" company.
-
July 18, 2024
Investor Signs $897K Settlement Over R. Kelly Show Funding
After security and credit agreements for the promotion of a concert series at the Foxwoods Resort Casino headlined by R&B artist R. Kelly fell apart, an investor has signed a roughly $900,000 deal in a Connecticut state court to recover an out-of-state settlement.
-
July 18, 2024
Biopharma Shareholder Sues In Del. For Docs On Akeso Deal
A shareholder of Summit Therapeutics Inc. sued the Florida biopharmaceutical company in Delaware's Court of Chancery on Thursday, seeking corporate records to investigate whether a $520 million financing arrangement connected to a partnership with Akeso Inc. benefited the company's co-CEOs at the expense of public stockholders.
-
July 18, 2024
Auto Software Co. Cerence's Brass Sued Over Licensing Woes
A shareholder of Cerence Inc. has sued the automobile software company's current and former top brass in Delaware Chancery Court, alleging they made misleading and false statements about the company's expected revenue and the types of licensing deals the company was pushing and entering into.
-
July 18, 2024
Ocugen Execs Hit With Derivative Suit Over Shoddy Controls
The top brass at biopharmaceutical company Ocugen Inc. were hit with a derivative suit alleging the company's lack of effective internal financial controls caused it to be misvalued and allowed shareholders to approve proposals based on incomplete information.
-
July 18, 2024
Moody's Says White Ex-Director's Depo 'Fatal' To Bias Suit
Financial analytics company Moody's on Wednesday told a Pennsylvania federal judge that it was clear a former employee who sued it for discrimination wasn't fired for being white and old, pointing to his "fatal" admission that he'd still be employed had he responded to a company vaccination survey.
-
July 18, 2024
CEO Firing Case Tied To Mogul Going To Mediation
A former chief executive and a European IT company tied to convicted mogul Greg Lindberg will head to mediation as part of a back-and-forth case involving allegations of firing without warning and spending company money on women's lingerie.
-
July 18, 2024
Las Vegas Developer Says SEC's EB-5 Fraud Suit Falls Short
A Las Vegas developer urged a Nevada federal judge to toss securities regulators' allegations she misappropriated $10 million raised by overseas investors hoping to come to the U.S. to pay down a loan for a project unconnected to their applications, arguing Wednesday the regulators fail to allege a wrongful state of mind.
-
July 18, 2024
Chancery Strains To Unwrap Shareholder's Amazon Order
A Delaware Chancery Court vice chancellor struggled on Thursday to wrap her head around a shareholder's demand for corporate documents to probe antitrust allegations at Amazon.com Inc. after a magistrate's report found the shareholder had not presented enough evidence to force the retailer to open its books.
-
July 18, 2024
American Airlines Hit With Class Action Over Sales Strategy
An investor launched a proposed class action against American Airlines over the company's botched sales and distribution strategy, saying that American touted its strategy as driving revenue while hiding the fact that the strategy was "driving customers away" in a Texas federal court on Thursday.
-
July 18, 2024
Cozen O'Connor Targets Penny Stock Co. CEO For Legal Fees
Cozen O'Connor is asking a Connecticut state court judge to affirm two Pennsylvania judgments against a penny stock company CEO who lost a federal enforcement action, alleging Bernard Findley and two of his companies owe nearly $750,000 in legal fees.
-
July 18, 2024
Another Enphase Investor Suit Claims Execs Hid Slow Growth
Enphase Energy's top brass has been slapped with another shareholder complaint in California federal court, alleging they misrepresented the energy technology company's financial outlook by concealing a decrease in battery shipments and slower manufacturing outputs, which artificially inflated its stock price.
-
July 18, 2024
Ex-Venable Trusts And Estates Partner Joins Stradling In LA
Stradling Yocca Carlson & Rauth PC announced that it launched a trusts and estates practice with the hiring of an experienced Los Angeles-based partner from Venable LLP.
-
July 18, 2024
Womble Bond Adds Finance Atty With Latin America Focus
Womble Bond Dickinson's growing New York office is welcoming a capital markets and structured finance attorney after his more than 10 years with Hogan Lovells, most recently in Brazil.
Expert Analysis
-
How Private Funds Can Navigate New FinCEN Reporting Rules
In light of the Financial Crimes Enforcement Network's new regulations implementing beneficial ownership reporting requirements, private fund managers must assess whether certain obligations apply to entities within their structures and whether potential structural changes could simplify those obligations, say attorneys at Winston & Strawn.
-
How AI May Be Used In Fintech Fraud — And Fraud Detection
Recent enforcement actions in the fintech and finance industries show that the government is increasingly pursuing fraud enabled by artificial intelligence — at the same time it’s using AI innovations to enforce regulations and investigate fraud, say attorneys at ArentFox Schiff.
-
What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.
-
Innodata Suit Highlights 'AI Washing' Liability Risk For Cos.
A class action against software company Innodata over so-called AI washing, one of the first of its kind, underscores the litigation and enforcement risks that can arise from the U.S. Securities and Exchange Commission's novel theory about misleading artificial intelligence capabilities, say attorneys at Bracewell.
-
Tips For CCOs Submitting Annual Compliance Reports
Recent settlement actions by the U.S. Commodity Futures Trading Commission, coupled with statements made by both CFTC and U.S. Securities and Exchange Commission leadership, demonstrate why this year's chief compliance officer annual report filing is no ordinary exercise, and highlight the increasing importance of the report and its usage, say attorneys at Steptoe.
-
Fintech 'Prenups': Planning For A Card Program Breakup
After a year of economic downturns, some banks and their fintech partners are realizing they may have rushed to the altar without a good prenup, but planning ahead can curb both foreseeable and unexpected issues in the event of a termination of a bank-fintech card-issuing agreement, say Andrew Grant at Ketsal and Richard Malish at Community Federal Savings Bank.
-
SEC's Final Climate Disclosure Rules: What Cos. Must Know
While the U.S. Securities and Exchange Commission's scaled-back final rules requiring public companies to disclose certain climate-related information still face challenges in court, companies should begin preparing now to comply with the rules, say Celia Soehner and Erin Martin at Morgan Lewis.
-
Caremark 2.0 Lends Shareholders Agency Against Polluters
The Caremark doctrine has been liberalized by recent Delaware court decisions into what some have termed a 2.0 version, making derivative cases against corporations far more plausible and invigorating oversight duty on environmental risks like toxic spills and air pollution, say Joshua Margolin and Sean Goldman-Hunt at Selendy Gay.
-
BIPA's Statutory Exemptions Post-Healthcare Ruling
The Illinois Supreme Court's November opinion in Mosby v. Ingalls Memorial Hospital, which held that the Biometric Information Privacy Act's healthcare exemption also applies when information is collected from healthcare workers, is a major win for healthcare defendants that resolves an important question of statutory interpretation, say attorneys at Quinn Emanuel.
-
2nd Circ.'s Nine West Ruling Clarifies Safe Harbor Confusion
The Second Circuit’s recent ruling in Nine West’s Chapter 11 suit clarifies that courts in the circuit will apply a transfer-by-transfer analysis to determine the applicability of Section 546(e) of the Bankruptcy Code, and that to be safe harbored, a financial institution must act as an agent with respect to the specific transfer at issue, says Leonardo Trivigno at Carter Ledyard.
-
Opinion
European Union Criticisms Of The FCPA Are Misguided
Some in the European Union have criticized U.S. enforcement of the Foreign Corrupt Practices Act for what they perceive as jurisdictional overreach, but this appears to overlook the crucial fact that jurisdiction is voluntary, and critics should focus instead on the lack of equivalent laws in their own region, say John Joy and YuTong Wang at FTI Law.
-
What Fed's Credit-Linked Note FAQ Means For Capital Relief
U.S. banks that seek to mitigate their loss of liquidity under the Basel III capital requirements by issuing direct credit-linked notes should turn to recent Federal Reserve FAQs for insight into how this new use of synthetic securitizations may reshape risk and regulation in the U.S. market, says Cris Cicala at Stinson.
-
Wildfire Challenges For Utility Investors: Regs And Financing
For investors in public utilities, wildfire liability considerations include not only regulatory complexities, but also bankruptcy claims resolution, financing judgments and settlements, and how to leverage organizational structures to maximize investment protections, say David Botter and Lisa Schweitzer at Cleary.
-
Del. Dispatch: How Moelis Upends Stockholder Agreements
The Delaware Court of Chancery's Moelis decision last month upended the standard corporate practice of providing governance rights in stockholder agreements and adds to a recent line of surprising decisions holding that long-standing, common market practices violate Delaware law, say attorneys at Fried Frank.
-
Litigation Inspiration: A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.