Securities

  • August 05, 2024

    Elon Musk Can't Beat Twitter Investors' Suit Over Bot Claim

    A California federal judge on Monday denied Elon Musk's bid to escape a shareholder suit alleging he misled Twitter investors by claiming the company had to provide information on an alleged bot problem before he could move forward with his $44 billion acquisition, saying Musk leaned on already-rejected arguments.

  • August 05, 2024

    Pluralsight's $20M Settlement With Investors Gets Initial OK

    A Utah federal judge has given his preliminary blessing to Pluralsight Inc.'s proposed $20 million settlement with a certified class of investors accusing the cloud-based and video training courses provider of securities fraud, according to an order issued Friday.

  • August 05, 2024

    Coinbase Broke Campaign Finance Laws, Crypto Critics Say

    Crypto exchange Coinbase violated campaign finance laws when it donated $25.5 million to political action committees while negotiating a federal contract, prominent crypto critics told a federal election watchdog — a claim the firm's legal chief has staunchly denied.

  • August 05, 2024

    Morgan Stanley Says SEC Eyeing Its Cash Sweep Policies

    Morgan Stanley told investors on Monday that it is fielding enforcement inquiries from the U.S. Securities and Exchange Commission about its investment account cash sweep policies.

  • August 05, 2024

    SEC Nabs $1M Default Win Against Fuel Tech Co.

    A fuel and gas company previously known as Taronis Technologies Inc. must pay a $1 million civil penalty after disregarding U.S. Securities and Exchange Commission allegations it touted nonexistent or exaggerated customer relationships with big customers, including Turkey's government and food processor Smithfield.

  • August 05, 2024

    Indivior Accused Of Overstating Prospects Of 3 Opioid Drugs

    Drugmaker Indivior PLC has been hit with a proposed investor class action in Virginia federal court over claims it overstated the financial prospects of its drugs used to treat opioid use disorders and the company's ability to forecast such financial projections.

  • August 05, 2024

    SEC, Other Regulators Propose Joint Data Standards

    The U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission, the Consumer Financial Protection Bureau and six other regulators are crafting joint standards required by bipartisan legislation aiming to modernize the collection and publication of those agencies' financial data, the SEC announced Friday.

  • August 05, 2024

    DXC Investor's Suit Says Execs Overhyped Integration Efforts

    A DXC Technology investor filed a proposed class action in Virginia federal court Friday alleging the information technology giant over-touted its "transformation journey" and efforts to reduce restructuring and integration costs after acquiring several companies that caused investors to buy DXC common stock at artificially inflated prices.

  • August 05, 2024

    Pomerantz To Lead Suit Over Ad Tech Co.'s Microsoft Ties

    Pomerantz LLP beat out several other firms on Monday to lead a proposed shareholder class action alleging that shares of ad tech company Perion Network declined nearly 40% after its strategic partner Microsoft Bing "unilaterally" changed its search advertising pricing.

  • August 05, 2024

    GM Slams Investors' Suit Alleging AV Tech Lapses

    General Motors has asked a Michigan federal court to dismiss a proposed securities fraud class action alleging it downplayed safety concerns about its autonomous vehicle technology, arguing the investors have contorted definitions of safety terms to bolster the suit.

  • August 05, 2024

    Spectrum, Assertio Hit With Double-Derivative Suit In Del.

    Former Spectrum Pharmaceuticals Inc. shareholders sued the company and its acquirer Assertio Inc. in Delaware's Court of Chancery on Monday, asserting double-derivative claims in connection with Spectrum's alleged misleading of investors regarding its development of the lung-cancer drug poziotinib.

  • August 05, 2024

    Centessa Beats Shareholder Suit Over Kidney Drug

    A New York federal judge has tossed a shareholder lawsuit alleging that Centessa Pharmaceuticals PLC overstated the prospects of its kidney disease treatment ahead of the drugmaker's initial public offering, saying the plaintiffs have failed to allege any actionable misleading statements or omissions.

  • August 05, 2024

    Thompson Hine Adds Securities Pro To Biz Litigation Practice

    Thompson Hine LLP is strengthening its business litigation practice in New York, with the addition of a former enforcement attorney for the U.S. Securities and Exchange Commission who most recently served as co-chair of Fox Rothschild LLP's securities industry, private equity and investment management, and white-collar criminal defense and regulatory compliance practices, the firm announced Monday.

  • August 05, 2024

    Catching Up With Delaware's Chancery Court

    Sunken treasure, rock band discord, a wrestling competition, and more news about Elon Musk — all in all, a colorful week in Delaware's Court of Chancery. The First State's famous court of equity also pushed forward on disputes involving a famous social media app, Delaware's largest hospital system, an artificial intelligence company and a budding commodity futures exchange.

  • August 05, 2024

    Dems Urge CFTC To Finalize Elections Trading Ban

    A group of Democratic lawmakers urged the U.S. Commodity Futures Trading Commission on Monday to finalize and implement its proposed rule to ban trading on the outcome of elections.

  • August 02, 2024

    JPMorgan Says CFPB May Bring Enforcement Case Over Zelle

    JPMorgan Chase & Co. said Friday the Consumer Financial Protection Bureau may lodge an enforcement action against the bank over the peer-to-peer payment platform Zelle, which has been chided as a vehicle for scammers, and that the bank may consider litigating the matter.

  • August 02, 2024

    Health Tech Co. Beats Investor Data Platform Fraud Claim

    A healthcare technology company has escaped an investor suit challenging the existence of a data platform it touted, as a Connecticut federal judge found a former employee's assertions at the center of the proposed class action weren't enough to show the company knowingly misled investors about the offering.

  • August 02, 2024

    BigLaw Insurer Calls FirstEnergy Ruling Threat To Privilege

    The Attorneys' Liability Assurance Society and the U.S. Chamber of Commerce threw their support Friday behind FirstEnergy's call for the Sixth Circuit to block investors' access to internal investigative documents produced by two BigLaw firms after a $1 billion bribery scandal became public.

  • August 02, 2024

    Del. Chancellor Presses Tesla On Musk Pay Salvage Scheme

    Delaware's chancellor pointed Friday to "zero cases under Delaware law" where stockholders were allowed to ratify a corporate act that had been found to be a breach of fiduciary duty, asking an attorney for Tesla Inc. why she should allow the company to use a post-verdict vote to resurrect Elon Musk's $56 billion stock-based compensation plan.

  • August 02, 2024

    Glancy Prongay To Rep Investors In Landslide Risks Suit

    Glancy Prongay & Murray LLP will represent a proposed class of investors in consolidated litigation alleging a Colorado-based mining company's unsafe practices precipitated a landslide, hurting investors when its trading prices dropped.

  • August 02, 2024

    Unnamed Auditor Suing PCAOB Ordered To Disclose Identity

    A Washington, D.C., federal judge has ordered an anonymous auditor to disclose their identity in their constitutional challenge attacking the Public Company Accounting Oversight Board amid their disciplinary proceedings, ruling Friday disclosure won't reveal any sensitive information and won't have a chilling effect deterring future litigants from suing the board.

  • August 02, 2024

    Bed Bath & Beyond Accuses Gamestop CEO Of Insider Trading

    The bankrupt big-box housewares retailer once known as Bed Bath & Beyond Inc. sued GameStop CEO Ryan Cohen and his company RC Ventures LLC in New York federal court Thursday, seeking to recover $47 million that it says the defendants made from insider trading not long before the company went belly-up.

  • August 02, 2024

    Industry Backs Commonwealth's Appeal Of SEC's $93M Win

    The Financial Services Institute is calling on the First Circuit to overturn the U.S. Securities and Exchange Commission's $93 million victory against member firm Commonwealth Financial Network, arguing the lower court's disgorgement analysis undermines a U.S. Supreme Court decision and leaves other investment advisers fearing "outsized" enforcement actions.

  • August 02, 2024

    Judge OKs Conn. Furniture Company's $615K Stock Suit Deal

    A Connecticut federal judge has given a preliminary nod to a $615,000 settlement between The Lovesac Co., a Connecticut-based furniture maker, and a group of investors angry over financial moves that they say caused the company's stock to slip.

  • August 02, 2024

    Investors Say Water Vending Co. Ran $100M Ponzi Scheme

    A group of investors alleges that a Washington water-vending machine company bilked them out of more than $100 million in a Ponzi scheme by promising double-digit returns from a growing franchisee network serving Family Dollar stores and other locations.

Expert Analysis

  • Class Actions At The Circuit Courts: May Lessons

    Author Photo

    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses four notable circuit court decisions on topics from automobile insurance to securities — and provides key takeaways for counsel on issues including circuit-specific ascertainability requirements and how to conduct a Daubert analysis prior to class certification.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

    Author Photo

    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • Opinion

    Del. Needs To Urgently Pass Post-Moelis Corporate Law Bill

    Author Photo

    After the Delaware Chancery Court's decision in West Palm Beach Firefighters' Pension v. Moelis sparked confusion around governance rights, recently proposed amendments to the Delaware General Corporation Law would preserve the state's predictable corporate governance system, says Lawrence Hamermesh at Widener University Delaware Law School.

  • 4 Arbitration Takeaways From High Court Coinbase Ruling

    Author Photo

    The U.S. Supreme Court's May 23 decision in Coinbase v. Suski, which provides clarity to parties faced with successive contracts containing conflicting dispute resolution provisions, has four practical impacts for contracting parties to consider, say Charles Schoenwetter and Eric Olson at Bowman and Brooke.

  • Series

    Playing Music Makes Me A Better Lawyer

    Author Photo

    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

    Author Photo

    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • FEPA Cases Are Natural Fit For DOJ's Fraud Section

    Author Photo

    The U.S. Department of Justice’s recent announcement that its Fraud Section would have exclusive jurisdiction over the Foreign Extortion Prevention Act — a new law that criminalizes “demand side” foreign bribery — makes sense, given its experience navigating the political and diplomatic sensitivities of related statutes, say James Koukios and Rachel Davidson Raycraft at MoFo.

  • Using A Children's Book Approach In Firm Marketing Content

    Author Photo

    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

  • The State Of Play In DEI And ESG 1 Year After Harvard Ruling

    Author Photo

    Almost a year after the U.S. Supreme Court decided Students for Fair Admissions v. Harvard, attorney general scrutiny of environmental, social and governance-related efforts indicates a potential path for corporate diversity, equity and inclusion initiatives to be targeted, say attorneys at Crowell & Moring.

  • 2 Oil Trader FCPA Pleas Highlight Fine-Reduction Factors

    Author Photo

    Recent Foreign Corrupt Practices Act settlements with Gunvor and Trafigura — the latest actions in a yearslong sweep of the commodities trading industry — reveal useful data points related to U.S. Department of Justice policies on cooperation credit and past misconduct, say Michael DeBernardis and Laura Perkins at Hughes Hubbard.

  • Influencer Considerations As FINRA Initiates Crackdown

    Author Photo

    To avert risks when evaluating influencer and referral programs, firms should assess the Financial Industry Regulatory Authority's recent settlements involving the supervision of social media tastemakers, as well as recent FINRA guidance in this area, say attorneys at Troutman Pepper.

  • New Crypto Reporting Will Require Rigorous Recordkeeping

    Author Photo

    The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.

  • What Transactional Attys Must Know About Texas Biz Courts

    Author Photo

    As Texas prepares to launch its new business courts, transactional attorneys — especially those involved in commercial, securities and internal governance matters — should keep several issues in mind when considering use of the state's business court system to facilitate deals and settle disputes, say attorneys at Katten.

  • Crypto Mixer Laundering Case Provides Evidentiary Road Map

    Author Photo

    A Washington, D.C., federal court’s recent decision to allow expert testimony on blockchain analysis software in a bitcoin mixer money laundering case — which ultimately ended in conviction — establishes a precedent for the admissibility of similar software-derived evidence, say Peter Hardy and Kelly Lenahan-Pfahlert at Ballard Spahr.

  • Series

    Being An EMT Makes Me A Better Lawyer

    Author Photo

    While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

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!