Try our Advanced Search for more refined results
Securities
-
August 01, 2024
DOJ Unveils Whistleblower Pilot, But Garners Atty Criticism
The U.S. Department of Justice on Thursday officially launched its pilot program to reward whistleblowers who alert prosecutors to significant corporate misconduct, although some whistleblower attorneys decried the program's award caps and what they described as its lack of enforceability.
-
August 01, 2024
BNY's Pershing Hit With $1.4M FINRA Recordkeeping Fine
BNY subsidiary Pershing will pay the Financial Industry Regulatory Authority a $1.4 million fine to resolve claims that it misstated interest rates for variable rate securities on millions of account statements for more than 12 years.
-
August 01, 2024
Montenegro Court Affirms Kwon's Extradition To South Korea
Terraform Labs founder Do Kwon is set to face criminal charges over the crypto project's collapse in South Korea after the Appellate Court of Montenegro on Thursday upheld a lower court's decision to refuse an extradition request from the U.S.
-
August 01, 2024
Grayscale Wants Rival's $2M Conn. Trade Practices Suit Nixed
Grayscale Investments LLC has asked a Connecticut state court judge to toss a suit launched by asset management firm Osprey Funds LLC, alleging that Grayscale falsely advertised its services in order to lure investors, saying the amended complaint fails to state a claim and, therefore, must be "stricken in its entirety."
-
August 01, 2024
Crypto-Forex Co. Defaults In Fla. Civil Fraud Lawsuits
A purported foreign exchange currency broker based in Hong Kong defaulted Thursday in three Florida state court lawsuits alleging multimillion-dollar frauds due to lack of counsel, although a Miami judge allowed the former CEO to respond to the complaints against him as a self-represented party.
-
August 01, 2024
AI-Focused Chipmaker Cerebras Confidentially Files IPO Plans
Silicon Valley-based artificial intelligence startup Cerebras Systems Inc. said Thursday it has confidentially filed plans for an initial public offering with the U.S. Securities and Exchange Commission, joining other AI-linked companies in the IPO pipeline.
-
August 01, 2024
TD Bank's $25M Client Poach Case Hits FINRA Snags
Ex-TD Bank employees accused of siphoning $25 million in business to Raymond James Financial Services Inc. agreed to move a dispute over a restraining order into arbitration to shield themselves from negative press, the bank told a federal judge Thursday after the defendants complained about delays to the proceeding.
-
August 01, 2024
Prisoner Swap Includes Russian Convicted Of Insider Trading
A Kremlin-linked Russian national serving nine years for the largest insider trading case ever prosecuted in the U.S. was among the 24 people freed Thursday in an elaborate prisoner swap that included American journalist Evan Gershkovich and former Marine Paul Whelan.
-
August 01, 2024
Manhattan DA Charges Crypto Recovery Biz Owner With Fraud
Manhattan prosecutors announced fraud and larceny charges on Thursday against the New York owner of a purported asset recovery business that allegedly charged customers fees while making false promises to recover cryptocurrencies.
-
August 01, 2024
Beanbag Chair Maker Offers $615K To End Conn. Stock Suit
A Connecticut-based maker of beanbag chairs and modular sofas that in 2019 sought to raise $100 million through a secondary share offering has asked a federal judge to approve a $615,000 settlement with a group of investors angry over alleged financial moves that caused a stock price dip.
-
August 01, 2024
Duane Morris Seeks $3.25M Fee For Pirate Treasure Win
Duane Morris LLP attorneys who recently won a Delaware Court of Chancery order unwinding a merger that set up unfair terms for distributions from a sunken pirate ship salvage venture potentially worth $200 million to $1 billion have asked for a $3.25 million fee for their five-year effort.
-
August 01, 2024
McCarter & English Asserts $492K Lien Over Ex-Client's Bills
McCarter & English LLP has told the Delaware Chancery Court it is asserting a $492,000 lien over any monies awarded to tool manufacturer Red Mud Enterprises LLC, saying its former client has yet to pay the firm for representing the company in litigation in which it won legal fees.
-
August 01, 2024
Locke Lord Adds Insurance, Privacy Partners In Chicago
Locke Lord LLP announced on Wednesday that two partners formerly of Sidley Austin LLP and Thompson Coburn LLP have joined the firm's insurance and cybersecurity practices out of Chicago.
-
August 01, 2024
Skadden Names Shareholder Engagement and Activism Head
Skadden tapped seasoned transactional attorney Elizabeth Gonzalez-Sussman to lead the firm’s shareholder engagement and activism practice as more clients seek help navigating investor demands.
-
August 01, 2024
Medtronic Still Faces Chancery Claim In Fortis' InPen Suit
Delaware's Court of Chancery has trimmed a suit that stockholders' representative Fortis Advisors LLC filed against Medtronic Minimed Inc. after its 2020 acquisition of insulin pen manufacturer Companion Medical Inc., tossing claims related to a missed milestone but keeping one about a withheld escrow payment.
-
August 01, 2024
Rising Star: Gibson Dunn's Colin Davis
Colin Davis of Gibson Dunn & Crutcher LLP has advised company directors in complex shareholder suits, allowing them to beat fraud and breach of fiduciary duty claims arising from major corporate transactions, earning him a spot among the securities law practitioners under age 40 honored by Law360 as Rising Stars.
-
August 01, 2024
R1 RCM Going Private In $8.9B Deal Steered By 4 Firms
TowerBrook Capital Partners and Clayton Dubilier & Rice have agreed to take R1 RCM Inc. private in a deal that values the healthcare-focused tech provider at about $8.9 billion, the company said in a Thursday announcement.
-
August 01, 2024
Mass. Could Be New Front In The Battle Over Jury Trial Right
Following the U.S. Supreme Court's ruling granting defendants facing administrative civil penalties the right to a jury trial, experts say a similar challenge in Massachusetts is likely, but may not find as receptive a judicial audience.
-
July 31, 2024
IRL App Cofounder Hit With SEC Suit Alleging $170M Fraud
The U.S. Securities and Exchange Commission sued the cofounder of media app In Real Life in California federal court on Wednesday, alleging a scheme to sell $170 million in company stock to investors while omitting that the app's growth was fueled by bot-generated traffic, and using company credit cards on personal expenses.
-
August 01, 2024
CORRECTED: Estonians Extradited In $575M Crypto Fraud Case Win Bail
A Washington federal judge has allowed two Estonian men to be released on bail backed by $5 million bonds after they were extradited to Seattle to face criminal charges that they operated cryptocurrency and money laundering schemes worth $575 million.
-
July 31, 2024
Del. Justices Reject New Earnout Claim In $300M Deal Appeal
Delaware's Supreme Court on Wednesday upheld dismissal of a post-sale stockholder representative suit challenging denial of accelerated, post-closing "earnout" payments after the merger of Edwards Lifesciences and Valtech Cardio Ltd., rejecting a stockholder bid to introduce post-appeal developments.
-
July 31, 2024
Discover Could Pay $200M In Card 'Misclassification' Fines
Discover Financial Services told investors on Wednesday that it could face $200 million in potential regulatory penalties over its past "misclassification" of certain credit card accounts, an issue that's also led to class action litigation and other scrutiny for the card giant.
-
July 31, 2024
Ackman's New Investment Fund Calls Off Planned $2B IPO
Bill Ackman's new investment fund Pershing Square USA on Wednesday called off its initial public offering just a day after setting a $2 billion fundraising target, which was down significantly from earlier estimates.
-
July 31, 2024
HSBC Says HUD Has Closed Fair Lending Probe
HSBC's U.S. banking arm said it is no longer facing a multicity fair lending investigation from federal housing authorities after an outside complaint that prompted the probe was withdrawn.
-
July 31, 2024
Report Finds Uptick In AI-Related Shareholder Suits
Class action lawsuits accusing companies of deceiving investors about their artificial intelligence capabilities are on the rise this year while the previously trendy areas of shareholder litigation against cryptocurrency companies and special purpose acquisition companies have fallen significantly, according to a Wednesday report from Cornerstone Research.
Expert Analysis
-
What TikTok's Race Against The Clock Teaches Chinese Firms
The Biden administration's recent divestiture deadline on TikTok parent ByteDance provides useful information for other China-based companies looking to do business in the U.S., including the need to keep products for each market separate and implement firewalls at the design stage, says Richard Lomuscio at Stinson.
-
Lean Into The 'Great Restoration' To Retain Legal Talent
As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.
-
What The NYSE Proposed Delisting Rule Could Mean For Cos.
The New York Stock Exchange's recently proposed rule would provide the exchange with discretionary authority to commence delisting proceedings for a company substantially shifting its primary business focus, raising concerns for NYSE-listed companies over the exact definition of the exchange's proposed "substantially different" standard, say attorneys at Winston & Strawn.
-
9th Circ. Ruling Broadens Sweep Of Securities 'Solicitation'
The Ninth Circuit's recent revival of a putative securities fraud class action against Genius Brands for hiring a stock promoter to write favorable articles about it shows that companies should view "solicitation" broadly in considering whether they may have paid someone to urge an investor to purchase a security, say attorneys at Simpson Thacher.
-
Boeing Saga Underscores Need For Ethical Corporate Culture
In the wake of recent allegations about Boeing’s safety culture, and amid the U.S. Department of Justice’s new whistleblower incentives, business leaders should reinvigorate their emphasis on compliance by making clear that long-term profitability requires ethical business practices, says Maxwell Carr-Howard at Dentons.
-
Key Takeaways From 2024 Accountants' Liability Conference
At the recent annual Accountants' Liability Conference, regulators provided important commentary on new Public Company Accounting Oversight Board rulemaking and standard-setting initiatives, and emphasized regulatory priorities ranging from the tone at the top to alternative practice structures, say attorneys at Arnold & Porter.
-
A Closer Look At Feds' Proposed Banker Compensation Rule
A recently proposed rule to limit financial institutions' ability to award incentive-based compensation for risk-taking may progress through the rulemaking process slowly due to the sheer number of regulators collaborating on the rule and the number of issues under consideration, say attorneys at Troutman Pepper.
-
Series
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
-
Parsing Controversial Del. General Corporation Law Proposals
In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.
-
5th Circ. Venue-Transfer Cases Highlight Mandamus Limits
Three ongoing cases filed within the Fifth Circuit highlight an odd procedural wrinkle that may let district courts defy an appellate writ: orders granting transfer to out-of-circuit districts, but parties opposing intercircuit transfer can work around this hurdle to effective appellate review, says Charles Fowler at McKool Smith.
-
A Healthier Legal Industry Starts With Emotional Intelligence
The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.
-
To Make Your Legal Writing Clear, Emulate A Master Chef
To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.
-
Takeaways From SEC's New Data Breach Amendments
The U.S. Securities and Exchange Commission's recent amendment of its consumer privacy rules to require investment advisers and broker-dealers to put procedures in place to uncover data breaches and report them to customers evidences that protecting client records and information remains an SEC priority, say attorneys at Simpson Thacher.
-
Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
-
NY Ruling Paves A Court Payment Shortcut For More Creditors
A recent New York state appeals court ruling expands access to an expedited statutory procedure for court enforcement of promissory notes or unconditional guaranties, allowing more creditors to minimize the risk of potentially challenging litigation on threshold issues, says Alexander Levi at Friedman Kaplan.