Securities

February 24, 2025
Lobbyist Abramoff Testifies At Fraud Trial Against Crypto CEO

Disgraced Washington, D.C., power broker Jack Abramoff told jurors on Monday that he participated in a conspiracy with the founder of an "anti-money laundering" cryptocurrency company accused of bilking investors out of $5 million, testifying remotely due to a recent cancer diagnosis.
February 24, 2025
Mining Co. Hit With Derivative Suit Over Stock Repurchases

A shareholder of Newmont Corp. has sued the Colorado-based gold mining company's top brass, alleging they misrepresented financial information that artificially inflated stock prices and caused the company to overpay for repurchases of its own stock, among other things.
February 24, 2025
SEC Crypto Task Force Wants Input, Commissioner Says

U.S. Securities and Exchange Commission Commissioner Hester Peirce urged firms to bring their input to her Crypto Task Force in a Friday statement that outlined a series of questions the group is grappling with, including the taxonomy of tokens.
February 24, 2025
Biotech Minority Investor Sues In Del. To Block Control Moves

A company control and takeover battle between Aurion Biotech Inc. and a large investor made its second landing in Delaware's Court of Chancery on Monday, in a minority stockholder's direct and derivative suit accusing Alcon Research Inc. and its board designates of multiple fiduciary breaches.
February 24, 2025
Robinhood, OpenSea Say SEC Closed Crypto Inquiries

Robinhood said Monday that the U.S. Securities and Exchange Commission "has officially closed" an investigation into its cryptocurrency arm without any enforcement action, joining a growing number of crypto matters the SEC has dropped or paused under the new Trump administration.
February 24, 2025
PBMs To Challenge FTC Case At 8th Circ., But Without Pause

A Missouri federal judge summarily refused, again, on Monday to temporarily block the Federal Trade Commission's in-house case accusing Caremark Rx, Express Scripts and OptumRx of artificially inflating insulin prices, letting the case proceed while the pharmacy benefits managers appeal to the Eighth Circuit.
February 24, 2025
SEC Could Loosen Income Limits On Startup Investments

The U.S. Securities and Exchange Commission's acting chairman said Monday that the agency is looking at a number of changes aimed at freeing up capital for investment, including the possibility of allowing lower- and middle-income Americans to invest in private, early-stage companies.
February 24, 2025
3rd Circ. Says $31M Order To Refill Class Funds Isn't Enough

The Third Circuit on Monday vacated and sent back a district court's order for a New Jersey man convicted of stealing $40 million from settlements in stockholder class actions to pay $31 million in restitution, ruling the order didn't fully compensate each victim of the fraud.
February 24, 2025
Investors Don't Have 'Shred' Of Fraud Evidence, Exxon Says

Exxon Mobil Corp. has told a Texas federal judge that an investor class doesn't have a "shred of evidence" that the company engaged in the stock inflation scheme the investors allege.
February 24, 2025
Micron Faces Insider Trading Suit In New Court

A suit accusing Micron Technology Inc.'s brass of selling $70 million worth of stock just before the release of disappointing financial results has been refiled in an Idaho federal court, after an earlier iteration of the suit in a Florida federal court was voluntarily dismissed.
February 24, 2025
Trump Media Seeks Shareholder Approval To Leave Delaware

The owner of Donald Trump's social media platform plans to hold a shareholder vote in April asking investors whether it should move its legal address to Florida, potentially joining a growing number of companies reincorporating outside of Delaware.
February 24, 2025
Moves To Change Del. Corporate Law Spark Pushback

A public opposition campaign complete with website and street signs has surfaced to oppose corporation and bar-backed legislation that would overhaul Delaware stockholder litigation rights and fee awards, intensifying an already unprecedented political fight that broke out last year over corporate governance concessions.
February 24, 2025
Securities Group Of The Year: Bernstein Litowitz

Bernstein Litowitz Berger & Grossmann LLP's attorneys recently secured over half a billion dollars for investors of government-sponsored mortgages in their suit against the federal government, and millions more for investors of publicly traded companies like Qualcomm and Perrigo, earning the firm a spot among the 2024 Law360 Securities Groups of the Year.
February 24, 2025
SEC Corporate Finance Leader Joins Gibson Dunn in DC

Gibson Dunn & Crutcher LLP has hired an attorney who has spent the majority of her professional career working with the U.S. Securities and Exchange Commission in several positions, the firm announced Monday.
February 24, 2025
Elizabeth Holmes Loses 9th Circ. Appeal Over Theranos Fraud

A Ninth Circuit panel on Monday affirmed the criminal fraud convictions of former Theranos CEO Elizabeth Holmes and former Theranos executive Ramesh "Sunny" Balwani along with their respective 11-year and nearly 13-year prison sentences, rejecting arguments that the lower court made multiple evidentiary errors that unfairly swayed jurors.
February 22, 2025
NY Judge Extends Block On DOGE's Treasury Access

A New York federal judge on Friday barred Elon Musk's Department of Government Efficiency from accessing U.S. Treasury Department data, handing a win to 19 state attorneys general who claimed giving the new entity access to citizens' personal information posed a massive cybersecurity risk.
February 21, 2025
Wall Street Groups Back Rescinding Biden Crypto Guidance

Wall Street's top lobbies are backing President Donald Trump's cryptocurrency agenda and have called for the recission of Biden-era federal banking policies and guidance that it says have "hindered" banks' ability to engage in the digital asset industry.
February 21, 2025
GOP Leader Zeros In On Fintech And Enviro Rules For Repeal

An Internal Revenue Service rule targeting digital asset sales and U.S. Commodity Futures Trading Commission guidance on the trading of voluntary carbon credits are among the environmental and financial regulations that Republicans are prioritizing for repeal, according to House Majority Leader Steven Scalise.
February 21, 2025
Judge Trims $40M Green Energy Co. Investor Suit

A Tennessee federal judge won't toss a proposed class action claiming that a Chicago green energy outfit and its executives used false promises of extravagant returns to lure investors, but ruled two defendants can escape some of the suit's claims.
February 21, 2025
Semtech Faces Investor Suit Over Revised Sales Projection

Semiconductor supplier and cloud service provider Semtech Corp. faces a proposed investor class action after it downgraded bullish sales expectations for a certain product portfolio it had earlier said would be used by chipmaker Nvidia.
February 21, 2025
FINRA Fines Merrill Lynch Over Early Sales Of IPO Shares

Merrill Lynch will pay a $275,000 fine to settle the Financial Industry Regulatory Authority claim that, for nearly three years, the firm accepted purchase orders for shares of newly issued stock prior to the opening of secondary market trading in those shares.
February 21, 2025
Crocs Hit With Stockholder Suit Over Heydude Revenue Woes

An investor hit Crocs Inc. and its top management Friday with a derivative suit alleging they knew that revenue growth from a newly acquired brand was driven by overstocking inventory and wasn't sustainable, claiming company insiders profited off strong revenue reports that later hurt stockholders when inventory problems reared their ugly head.
February 21, 2025
Prime Core Crypto 'Hopelessly Commingled,' Plan Admin Says

Counsel for the administrator of cryptocurrency custodian Prime Core's Chapter 11 wind-down plan on Friday defended its decision to treat the debtor's cryptocurrency as property of the estate, even when it came from customers.
February 21, 2025
Va. Judge Won't Bar DOGE Access To Treasury, OPM Data

A Virginia federal judge on Friday rejected a data privacy watchdog's bid for a preliminary injunction blocking Elon Musk's Department of Government Efficiency from accessing data systems housed in the U.S. Department of the Treasury and the U.S. Office of Personnel Management.
February 21, 2025
Pharma Co. Investors Get Final OK For $3M Settlement

Investors in Colorado pharmaceutical company Ampio have gotten final approval for their $3 million deal resolving claims that its leadership mishandled a clinical trial for the company's sole drug candidate and distributed the drug outside the trial for unapproved use, leading to an internal investigation in which two executives were fired and a disclosure that there was "no clinical pathway forward" for the treatment.

Expert Analysis

Exploring Venue Strategy For Trump-Era Regulatory Litigation

Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
What 2024's Noncompete Turmoil Means For Banks In 2025

A look back at the most significant legal challenges to the enforceability of various restrictive covenants like noncompete and nonsolicitation agreements in 2024 can help financial institutions address the use of these critical tools this year, say attorneys at Maynard Nexsen.
Opinion

3 New Year's Resolutions For Antitrust Agencies To Consider

James Fredricks at Skadden rings in 2025 with his wish list for the federal antitrust agencies, starting with a provision for a presumptive safe harbor for information sharing.
New Year, New Risks: 8 Top Cyber Issues For Finance In 2025

As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.
FTC Focus: A Changing Of The Guard

While rigorous antitrust enforcement is unlikely to slow down at the Federal Trade Commission, the focus will undoubtedly change, including when it comes to Big Tech, as Andrew Ferguson prepares to take the reins from Chair Lina Khan, say attorneys at Proskauer.
5th Circ.'s Nasdaq Ruling Another Piece In DEI Policy Puzzle

The Fifth Circuit's recent en banc opinion vacating Nasdaq's board diversity listing rule wades into the hotly debated topic of diversity, equity and inclusion initiatives at a time when many public companies are navigating the attention that DEI commitments are drawing from activists and shareholders, say attorneys at Debevoise.
8 Trends And Predictions Following PE's Late 2024 Surge

Private equity will remain at the forefront of value creation in 2025, and anticipated market trends include sponsors' desire to return capital to investors and a more business-friendly tack by the Antitrust Division of the U.S. Department of Justice, say attorneys at Weil.
Series

Playing Esports Makes Me A Better Lawyer

Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
Lessons From The SEC's 2024 Crackdown On AI Washing

AI washing was the subject of increased scrutiny from the U.S. Securities and Exchange Commission in 2024 following a surge in the commercial adoption of generative artificial intelligence technologies in 2023, highlighting the importance of transparency, accuracy and accountability when communicating about AI, say attorneys at Perkins Coie.
The 6 Most Significant FCRA Litigation Developments Of 2024

From a key sovereign immunity decision at the U.S. Supreme Court to a ruling on creditworthiness out of the Seventh Circuit, several important Fair Credit Reporting Act cases wound their way through the courts in 2024, each offering takeaways for both plaintiffs and defendants, say attorneys at Shipkevich.
An Associate's Guide To Career Development In 2025

As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
The Securities Litigation Trends That Will Matter Most In 2025

2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.
Predicting The Lasting Changes CFPB May Face In 2025

President-elect Donald Trump and the incoming Republican-controlled Congress' likely attempts to reshape the Consumer Financial Protection Bureau could significantly alter its rulemaking, supervisory and enforcement abilities for years to come, says Jim Sandy at McGlinchey Stafford.
What To Watch For In The 2025 Benefits Landscape

While planning for 2025, retirement plan sponsors and service providers should set their focus on phased implementation deadlines under both Secure 1.0 and 2.0, an upcoming U.S. Supreme Court ruling, and the fate of several U.S. Department of Labor regulations, says Allie Itami at Lathrop GPM.
How White Collar Enforcement May Shift In Trump's 2nd Term

After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.