Securities

  • March 24, 2025

    Seattle Biotech Duped Investors On Drug Progress, Suit Says

    Seattle's Sana Biotechnology Inc. is the target of a proposed class action filed on Monday by a shareholder who alleges the company misled investors about its ability to develop genetic therapy treatments for oncology and central nervous system disorders.

  • March 24, 2025

    Norfolk Southern Must Face Investors' Suit Over Safety Claims

    A lawsuit claiming that Norfolk Southern executives propped up stock prices with false claims about the railroad's safety culture has survived the company's motion to dismiss, with a Georgia federal judge ruling Monday that those claims were specific enough to be material for investors who were allegedly deceived up until the 2023 derailment in East Palestine, Ohio.

  • March 24, 2025

    American Airlines Seeks Dismissal of Investor Fraud Claims

    American Airlines told a Texas federal judge that jaded investors want to spin a simple earnings guidance adjustment into a securities class action, saying the company was transparent when its 2024 sales strategy foundered.

  • March 24, 2025

    SEC, FINRA Enforcement Heads Say Crypto Still A Focus

    Heads of enforcement at the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority indicated Monday the agencies are keeping their eyes on cryptocurrency, even as the former has backed off of various cases and investigations involving crypto.

  • March 24, 2025

    Sheppard Mullin, Others Accused Of Aiding Loan Fraud

    An investor has hit Sheppard Mullin Richter & Hampton LLP, a former managing partner and multiple other individuals with a sprawling lawsuit in California state court, alleging they made a series of fraudulent transactions to dupe him out of his initial $650,000 loan, eventually costing him millions of dollars in lost profits and legal fees.

  • March 24, 2025

    Trump Asks High Court To Halt Fed. Workers' Reinstatement

    The Trump administration asked the U.S. Supreme Court on Monday to pause a California federal court order reinstating tens of thousands of probationary federal workers who were fired from six agencies, arguing the band of nonprofit groups that obtained the order have no standing to challenge the firings.

  • March 24, 2025

    Gibson Dunn Adds Former Federal Prosecutor In SF

    Gibson Dunn & Crutcher LLP has brought on the former chief of the corporate and securities fraud section at the U.S. Attorney's Office for the Northern District of California as a partner in San Francisco, the firm said Monday.

  • March 21, 2025

    Only FDIC Can Sue Over Signature Bank Collapse, Judge Says

    A New York federal judge on Friday tossed a shareholder lawsuit over alleged misstatements about Signature Bank's health ahead of its 2023 collapse, saying shareholders lacked standing to sue in light of the FDIC being a receiver of both the failed bank's assets and rights of the bank's stockholders.

  • March 21, 2025

    Barclays Beats Investor Suits Over Unregistered Securities

    A New York federal judge tossed Friday a pair of proposed securities class actions alleging Barclays misled investors about its internal controls and its unregistered securities sales, which eventually triggered so-called short squeezes, finding that the statements aren't actionable and the investors haven't sufficiently pled scienter, among other pleading failures.

  • March 21, 2025

    Chancery Nixes Mid-Case Appeal In Sears Appraisal Suit Fix

    A Delaware vice chancellor refused on Friday to certify a mid-case appeal sought by bankrupt Sears Hometown Stores and its billionaire controller after a Court of Chancery ruling that an investor should get a full $4.06 per share post-squeeze-out merger award despite pursuing an alternative stock appraisal that was dead-ended by bankruptcy.

  • March 21, 2025

    SEC Crypto Roundtable Puts 'Howey' To The Test

    The U.S. Securities and Exchange Commission brought a dozen cryptocurrency legal experts together on Friday to wrestle with how to define security status for digital assets, and their in-depth discussion left the regulator with more questions or suggestions than agreed-upon definitions.

  • March 21, 2025

    Divisive Del. Corporate Law Bill May Get Compromise Tweak

    A Delaware state representative reported active interest Friday in possible "opt-in" requirements for proposed changes to the section of Delaware's general corporation law pertaining to potentially conflicted business transactions and controlling investors.

  • March 21, 2025

    Texas Regulator Says Scammers Recruited Game Developers

    The Texas State Securities Board entered an emergency cease-and-desist order to stop offers of an allegedly fraudulent blockchain token called Apertum, saying its creators successfully recruited developers behind "Grand Theft Auto V" to launch a new game requiring the purchase of the token.

  • March 21, 2025

    SEC Guidance Moves Needle In Favor Of Private Fundraising

    The U.S. Securities and Exchange Commission's recent guidance on how accredited investors can self-certify when participating in broadly publicized private placements simplifies legal compliance for issuers, according to attorneys, though the jury is still out on whether market participants will embrace the new framework.

  • March 21, 2025

    Ex-Cognizant CLO Reconsidering Dismissal Of Paul Weiss

    A former Cognizant Technology Solutions Corp. executive facing bribery charges indicated Friday that he may reconsider his decision to fire Paul Weiss Rifkind Wharton & Garrison LLP as his trial counsel, now that President Donald Trump has rescinded an executive order limiting the firm's access to federal buildings and officials.

  • March 21, 2025

    DOJ Ends Glencore Monitorships Under Bribery Deal Early

    The U.S. Department of Justice has ended early two monitorships imposed as part of mining giant Glencore's 2022 bribery and market manipulation case settlement, in the wake of President Donald Trump's directive pausing enforcement of the Foreign Corrupt Practices Act.

  • March 21, 2025

    Treasury Lifts Sanctions Against Crypto Mixer Tornado Cash

    The U.S. Department of the Treasury said Friday that it has removed U.S. government sanctions against cryptocurrency mixer Tornado Cash, ending the Biden-era blacklisting after the Fifth Circuit said last year that key code underpinning the service wasn't sanctionable.

  • March 21, 2025

    Block & Leviton, Elsberg To Co-Lead Agiliti Squeeze-Out Suit

    Block & Leviton and Elsberg Baker & Maruri have won co-lead counsel roles in a consolidated proposed investor class action in Delaware's court of chancery challenging an alleged squeeze-out of minority shareholders of medical equipment company Agiliti Inc.

  • March 21, 2025

    Chicago Feds Charge 7 Over Alleged $214M Pump-And-Dump

    Federal prosecutors on Friday charged seven foreign nationals over a "pump and dump" scheme in which they allegedly posed as U.S.-based investment advisers online and artificially raised the stock price of a company purporting to provide educational services in China, raking in more than $200 million when they sold their shares.

  • March 21, 2025

    Musk Atty Spiro Evading Subpoena, Twitter Investors Say

    A class of investors suing Elon Musk over allegations he tried to smear Twitter to lower the price of his $44 billion acquisition of the site says one of Musk's Quinn Emanuel Urquhart & Sullivan LLP attorneys and close advisers has refused to accept service of a subpoena to be deposed and should be served by alternative means.

  • March 21, 2025

    Investors Fail To Show Dish Lied About 5G, Judge Says

    A Colorado federal judge has permanently tossed a proposed investor class action claiming Dish Network lied about the success of its 5G network rollout, finding that while Dish may have been "overly ambitious" about its plans, that isn't enough to state a claim for securities fraud.

  • March 20, 2025

    Musk Gets Summons In Tardy Twitter Stock Disclosure Row

    Elon Musk received a court summons last week for a U.S. Securities and Exchange Commission lawsuit accusing the billionaire of failing to timely disclose his purchases of Twitter stock ahead of his $44 billion acquisition in 2022, according to a return of service filed Thursday in D.C. federal court.

  • March 20, 2025

    OCC Says It Will Stop Examining Banks For Reputation Risk

    The Office of the Comptroller of the Currency said Thursday that it will no longer examine banks for reputation risk, adopting a policy change that some Republican lawmakers want to require for all federal banking regulators to help curb so-called debanking.

  • March 20, 2025

    Iowa Adviser To Pay $15M Over SEC Conflict Claims

    An Iowa-based adviser has been ordered to pay $15 million over claims from the U.S. Securities and Exchange Commission that it invested client assets in funds that benefited an affiliated broker-dealer instead of lower-cost alternatives, without disclosing its conflicts of interest.

  • March 20, 2025

    SEC Steps Back From Crypto Mining In Staff Statement

    The U.S. Securities and Exchange Commission's Division of Corporation Finance said Thursday that certain crypto mining activities are beyond the agency's purview, but the commission's lone Democrat warned against interpreting the statement as a "wholesale exemption for mining."

Expert Analysis

  • What To Watch For In The 2025 Benefits Landscape

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    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

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    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.

  • COP29 Offers Pathway To A Global Carbon Market

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    COP29, the recently concluded United Nations climate conference, represented a breakthrough in the establishment of standards for a global carbon market — and voluntary carbon market participants in the U.S. and elsewhere can enhance the value of their projects by aligning them with these standards, say attorneys at Morgan Lewis.

  • New Trump Admin May Bring Financial Oversight Turbulence

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    As President-elect Donald Trump prepares to begin his second term, his top financial market regulatory and securities law enforcement appointees, campaign promises, and regulatory preferences foretell a period of muddy regulatory waters, say attorneys at Kroll.

  • The Justices' Securities Rulings, Dismissals That Defined '24

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    The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • 2024 Has Been A Momentous Year For ESG

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    Significant developments in the environmental, social and governance landscape this year include new legislation, evolving global frameworks, continued litigation and enforcement actions, and a U.S. Supreme Court decision that has already affected how lower courts have viewed some ESG challenges, say attorneys at Katten.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025

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    U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.

  • Musk Pay Fight Shows Investor Approval Isn't Universal Cure

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    The Delaware Court of Chancery's recent denial of a motion revising its prior rescission of Elon Musk's nearly $56 billion compensation package is a reminder of the heightened standard corporate boards must meet in conflicted controller transactions and that stockholder approval doesn't automatically cure fiduciary wrongdoing, say attorneys at A&O Shearman.

  • Data Privacy Landscape After Mass. Justices' Wiretap Ruling

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    In Vita v. New England Baptist Hospital, Massachusetts’ highest court recently ruled that the state’s wiretap law doesn’t prohibit all tracking of website user activity, but major financial and reputational risks remain for businesses that aren't transparent about customer’s web data, says Seth Berman at Nutter.

  • Compliance Lessons From Raytheon's FCPA Settlement

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    A recent Foreign Corrupt Practices Act action involving aerospace and defense company Raytheon underscores the importance of risk management related to retaining and overseeing third parties — especially in higher-risk jurisdictions — and the promotion of a companywide culture of compliance, say attorneys at Debevoise.

  • Opinion

    Justices Rightly Corrected Course In Nvidia And Facebook

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    By dismissing both the Nvidia and Facebook class actions, over investors' ability to hold corporations accountable for fraud, the U.S. Supreme Court was right in refusing to favor corporations over transparency, and reaffirmed its commitment to corporate accountability, investor protection and the rule of law, says Laura Posner at Cohen Milstein.

  • Gov't Scrutiny Of Workplace Chat Apps Set To Keep Growing

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    The incoming Trump administration and Republican majorities in Congress are poised to open numerous investigations that include increasing demands for entities to produce communications from workplace chat apps, so companies must evaluate their usage and retention policies, say attorneys at Orrick.

  • Del. Dispatch: The 2024 Corporate Cases You Need To Know

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    The Delaware Court of Chancery in 2024 issued several decisions that some viewed as upending long-standing corporate practices, leading to the amendment of the Delaware General Corporation Law and debates at some Delaware corporations about potentially reincorporating to another state, say attorneys at Fried Frank.

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