Try our Advanced Search for more refined results
Securities
-
December 17, 2024
Alcohol Co. Sued Over Biz Hangover After COVID Lockdowns
Alcoholic beverage manufacturer MGP Ingredients Inc. has been hit with a proposed investor class action alleging the company misled the public about the continued success of its business following its exponential growth during the COVID-19 pandemic and related lockdowns.
-
December 17, 2024
SEC Says Express Didn't Disclose $1M In Ex-CEO Perks
Express Inc. failed to disclose nearly $1 million worth of perks and personal benefits to former CEO Tim Baxter, according to a settlement released Tuesday by the U.S. Securities and Exchange Commission, which declined to levy a civil penalty against the fashion retailer in light of its cooperation and remediation.
-
December 17, 2024
Hunton Adds Ex-Flagstar Atty To NYC Office
Hunton Andrews Kurth LLP announced on Tuesday it has hired ex-Flagstar Bank senior vice president and associate general counsel Ian W. Sterling for its New York City office as a special counsel who specializes in structured finance and securitization.
-
December 17, 2024
Drug Co. Investor Sues In Del. Over $140M Insider Windfall
A pension fund investor in Cerevel Therapeutics Holdings Inc. has sued Bain Capital Investors LLC and other alleged insiders of the company in Delaware's Court of Chancery, accusing them of lining up a secondary offering in the biopharmaceutical venture before disclosure of its planned sale to AbbVie.
-
December 17, 2024
Asset Manager Gets 2½ Years For Role In $1.2B PDVSA Scheme
A Florida federal judge on Tuesday sentenced an asset manager who pled guilty to participating in a $1.2 billion scheme to embezzle money from Venezuela's state-owned oil company to 2½ years in prison.
-
December 17, 2024
Express Inc.'s Post-Sale Ch. 11 Liquidation Plan Approved
A Delaware bankruptcy judge on Tuesday confirmed the Chapter 11 liquidation plan for the estate of clothing retailer Express Inc., after the debtor sold the business this summer for $174 million.
-
December 16, 2024
Circuit-By-Circuit Guide To 2024's Most Memorable Moments
One judge said a litigant's position would cause "an effing nightmare," and another decried the legal community's silence amid "illegitimate aspersions." Public officials literally trashed one court's opinion, and fateful rulings dealt with controversial politicians, social media and decades of environmental policy. Those were just a few appellate highlights in 2024, a year teeming with memorable moments both substantive and sensational.
-
December 16, 2024
BNY Scores Exit In Mutual Fund Conflict Of Interest Suit
A Pennsylvania federal magistrate judge on Monday granted The Bank of New York Mellon's bid to toss a proposed class action claiming that it failed to disclose conflicts of interest when funneling client assets into mutual funds and other investment vehicles that favored the bank, ruling that the claims are preempted by the Securities Litigation Uniform Standards Act.
-
December 16, 2024
Ginkgo Bioworks Investors Get Final OK Of $17.8M Settlement
Investors in biotech company Ginkgo Bioworks Holdings Inc. have gotten final approval for their $17.75 million deal to end proposed class action claims that the company and its leaders distorted Ginkgo's finances, mischaracterizing certain related party deals, to garner shareholder support for its merger with a special purpose acquisition company.
-
December 16, 2024
Split SEC Will Require Certain Filings Be Made Electronically
A split U.S. Securities and Exchange Commission on Monday adopted rule amendments that require certain filings be made electronically, with Chair Gary Gensler saying the changes will streamline the commission's filing process.
-
December 16, 2024
Texas Bitcoin Mining Enterprise's Investors Accuse It Of Fraud
Founders of a Texas-based bitcoin mining company are being accused of fraud by several investors in a new lawsuit claiming they attempted to conceal the sale of the company's operational facilities to a competitor, which led to the company's filing for bankruptcy earlier this year.
-
December 16, 2024
'Plans Do Matter,' Tempur Sealy Says In Final Merger Hearing
Tempur Sealy made its final push Monday in support of its $4 billion planned Mattress Firm purchase, telling a judge during closing arguments that the Federal Trade Commission hadn't shown that the company planned to deviate from its intent for Mattress Firm to remain autonomous.
-
December 16, 2024
Judge OKs Par Funding Receiver's Plan To Distribute $110M
A Florida federal judge on Monday approved a distribution plan by the receiver for Par Funding and authorized the first distribution of more than $110 million that the receiver has collected for the investors who were defrauded in a Ponzi scheme that raised nearly a half-billion dollars.
-
December 16, 2024
Chinese Fintech 9F Partially Beats Investors' IPO Suit
A New Jersey federal judge has partially dismissed a securities fraud class action against 9F Inc. that accused the Chinese financial technology company of hiding its financial woes and not disclosing an "illegal arrangement" that investors said it had with an insurance carrier.
-
December 16, 2024
Global Payments' $3.6M Investor Deal Gets Judge's Final OK
Investors in Atlanta-based Global Payments Inc. have gotten final approval for a $3.6 million deal ending claims the company harmed shareholders by allegedly misleading consumers into signing up for a program with undisclosed fees.
-
December 16, 2024
Becton Dickinson To Pay SEC $175M Over Pump Claims
Becton Dickinson & Co. has agreed to pay $175 million to settle the U.S. Securities and Exchange Commission's allegations that the medical device manufacturer misled investors about the risks of selling its Alaris infusion pump and overstated its income, the agency announced Monday.
-
December 16, 2024
Anchorage Digital Awarded BitLicense From NY Regulator
Anchorage Digital said Monday it has received a BitLicense from the New York State Department of Financial Services, allowing the cryptocurrency platform to offer regulated crypto trading to New York-based clients and giving it the ability to custody and settle trades through chartered custodian Anchorage Digital Bank.
-
December 16, 2024
SEC Says Colo. Nonprofit Flouting Probe Into Potential Fraud
The U.S. Securities and Exchange Commission has asked a Colorado federal judge to order a religious-themed financial literary organization to comply with a subpoena in the agency's investigation into possibly unregistered securities and crypto assets.
-
December 16, 2024
SEC Wants Out Of PE Firm's 'Fishing Expedition' Suit
The U.S. Securities and Exchange Commission has asked a Texas federal judge to toss a suit brought by a real estate-focused private equity fund alleging the SEC subjected it to an unconstitutional "fishing expedition" outside its regulatory purview, arguing that sovereign immunity bars the firm's claims and that the court has no jurisdiction over the case.
-
December 16, 2024
Investment Pro Denies $600M 'Cherry-Picking' Fraud Charges
A California investment executive on Monday denied cheating a group of his firm's clients by assigning them poorer-performing trades, pleading not guilty before a Manhattan federal judge to what prosecutors call a $600 million criminal "cherry-picking" fraud.
-
December 16, 2024
Ozy Media CEO Gets Almost 10 Years For Investor Fraud
A New York federal judge on Monday sentenced former Ozy Media CEO Carlos Watson to nearly 10 years in prison following his conviction at trial for lying to banks and investors to secure tens of millions of dollars in funding for the nascent multimedia company.
-
December 16, 2024
Justices Won't Hear 3rd Circ. CFPB Student Loan Trust Case
The U.S. Supreme Court said Monday that it would leave in place a lower court decision allowing the Consumer Financial Protection Bureau to sue securitization trusts over their servicers' treatment of borrowers, declining to take up a challenge to the scope of the agency's enforcement authority.
-
December 13, 2024
Coinbase Faces $1B Antitrust Suit Over Crypto Rival's Delisting
Coinbase was hit with an antitrust in California federal court on Friday by BiT Global, a company that "wraps" bitcoin so the cryptocurrency can be traded on decentralized exchanges, claiming Coinbase delisted its product after creating a competing knockoff.
-
December 13, 2024
Medical Device Co. Brass Hid SPAC's True Value, Suit Says
The executives and directors of a healthcare holding company have been hit with a shareholder derivative suit in Colorado federal court alleging the company hid the financial and regulatory risks it faced to inflate its value after merging with a blank check company.
-
December 13, 2024
Canadian Gold Mining Co. Beats Investor Suit Over M&A Plans
A New York federal judge on Friday granted a Canadian gold mining company a summary judgment win in a securities lawsuit accusing it of misleading investors about its corporate acquisition strategy, saying statements a California investor challenged didn't exclude the possibility of acquiring another company if the right opportunity arose.
Expert Analysis
-
Del. Dispatch: Clarifying Charter Amendment Vote Obligations
The Delaware Court of Chancery recently held in Gunderson v. The Trade Desk that only a majority stockholder vote is needed to approve a company's proposed reincorporation from Delaware to Nevada through a corporate conversion, which bodes well for other companies also considering leaving the First State, say attorneys at Fried Frank.
-
What's Still Up In The Air After Ruling On Calif. Climate Laws
A California federal court's recent ruling on challenges to California's sweeping climate disclosure laws resolved some issues, but allows litigation over the constitutionality of the laws to continue, and leaves many important questions on what entities will need to do to comply with the laws unanswered, say attorneys at Paul Hastings.
-
Series
Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
-
Navigating DOJ's Patchwork Whistleblower Regime
In the past few months, the U.S. Department of Justice and several individual U.S. attorney’s offices have issued different pilot programs aimed at incentivizing individuals to blow the whistle on misconduct, but this piecemeal approach may create confusion and suboptimal outcomes, say attorneys at BakerHostetler.
-
So You Want To Move Your Law Practice To Canada, Eh?
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
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
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
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
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
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
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
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
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
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
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.