Securities

  • January 07, 2025

    CFTC Chair Behnam To Step Down When Trump Takes Office

    U.S. Commodity Futures Trading Commission Chair Rostin Behnam announced Tuesday that he will resign his chairmanship on Inauguration Day in order to make way for new agency leadership under incoming President Donald Trump.

  • January 06, 2025

    Trump Selects Long Island Judge For EDNY's Top Prosecutor

    President-elect Donald Trump, who was born in Queens, has picked a Long Island state court judge to serve as the next U.S. attorney for the Eastern District of New York, according to an announcement made Monday on Truth Social.

  • January 06, 2025

    Nikola Investors Win Class Cert. In Securities Fraud Litigation

    An Arizona federal judge on Monday certified a class of investors accusing Nikola Corp. of inflating its stock price by exaggerating its ability to manufacture electric trucks, ruling that the shareholders have shown their case warrants the class treatment more than four years after they first sued.

  • January 06, 2025

    Cos. Accused Of Misusing EB-5 Investor Funds

    More than $80 million in EB-5 investor funds that were intended for a Brooklyn real estate project were misused to purchase shares in a related company, a suit claimed in New York federal court.

  • January 06, 2025

    Biotech Co. Revance Faces Suit After Tender Offer Weakens

    Biotechnology company Revance Therapeutics Inc. and two of its executives face a proposed investor class action alleging the company hurt investors after the value of a take-private tender offer was negotiated down following allegations that Revance had breached a distribution deal with another company.

  • January 06, 2025

    Nasdaq Gets SPAC Investor's Racial Bias Claims Tossed

    A federal judge decided Monday to toss a suit from an investor in a minority-led special purpose acquisition company claiming the Nasdaq Stock Market participated in race-based discrimination against investors, saying the plaintiff fails to allege that its injuries were a direct result of Nasdaq's actions.

  • January 06, 2025

    Law School Grad Gets 2 Years For JPMorgan Insider Trading

    A law school graduate was sentenced in California federal court Monday to two years in prison for insider trading on tips from a JPMorgan Chase analyst, while another defendant was spared jail time for his role in the same scheme.

  • January 06, 2025

    Prepared Foods Co. Accused Of Duping CEO With Stock Plan

    The former CEO of the American arm of a U.K.-based food manufacturer says the company deluded him with misleading promises about stock options during the recruitment process to get him to join and then refused to pony up the shares when he left.

  • January 06, 2025

    Terraform Victims May Exceed 1M, Feds Say In Notice Request

    The U.S. Department of Justice on Monday asked a Manhattan federal judge for permission to issue a public notice to notify potential victims of defunct cryptocurrency firm Terraform Labs' creator Do Kwon's alleged $40 billion fraud, saying there are too many victims — potentially more than one million — to do individual outreach.

  • January 06, 2025

    Investment Adviser Says Attys' Mistakes Cost Him His Career

    A Colorado investment adviser has sued two of his former attorneys for malpractice in state court, claiming one failed to clarify that a deal he signed over securities violations also would bar him from working in other states, while the other allegedly failed to timely file an appeal to dispute the settlements.

  • January 06, 2025

    SEC Seeks To Bar Milbank Probe From Dialysis Execs' Trial

    The U.S. Securities and Exchange Commission said Monday that two dialysis company executives accused of accounting fraud should not be allowed to tell a jury about a Milbank LLP-led internal investigation they say found no evidence of intentional wrongdoing.

  • January 06, 2025

    FTC Blasts Tempur Sealy's New Floor-Space Promise

    The Federal Trade Commission told a Texas federal court a revised commitment from Tempur Sealy to preserve floor space for rivals in Mattress Firm stores would not restore the competition lost by a merger of the companies because it cannot be enforced.

  • January 06, 2025

    US Wants More Time To Counter Altria's $106M Tax Refund Bid

    Tobacco giant Altria's complaint seeking a $106 million tax refund related to its interests in beverage company Anheuser-Busch requires more research to counter in the event a Virginia federal court decides it can move forward, the U.S. government said in requesting time for potential discovery.

  • January 06, 2025

    Gemini To Pay CFTC $5M For Bitcoin Contract Statements

    Crypto exchange Gemini has agreed to pay a $5 million penalty to the U.S. Commodity Futures Trading Commission to resolve claims that it misrepresented certain aspects of a proposed bitcoin futures contract, according to a settlement agreement filed in New York federal court on Monday.

  • January 06, 2025

    Fed's Barr To Step Down As Supervision Head Next Month

    Federal Reserve Vice Chair for Supervision Michael S. Barr announced Monday that he will step down from his current role next month, a reversal that paves the way for President-elect Donald Trump to appoint his own head of the central bank's oversight of big banks and regulatory policymaking.

  • January 06, 2025

    Chinese Billionaire's Deputy Gets 10 Years For $1.4B Fraud

    A Manhattan federal judge sentenced a Chinese business manager to 10 years in prison Monday for her role assisting convicted billionaire Miles Guo's $1.4 billion fraud, saying the lawbreaking was egregious because it leveraged talk of bringing democracy to authoritarian China.

  • January 03, 2025

    Semiconductor Co. Beats 2nd Suit Over Failed $8B Merger

    Semiconductor company MaxLinear Inc. has beaten another suit over its failed $8 billion merger plans with a Taiwan-based company after a California federal jurist found that the investment funds that brought the action didn't have standing to sue since they were investors in the acquisition target, not MaxLinear.

  • January 03, 2025

    Del. Court Rules Against Insurers In Harman 'Bump-Up' Case

    In a closely watched ruling on director and officer insurer denials of mergers and acquisitions cost "bump-up" payouts, a Delaware judge sided on Friday with Harman International Industries' claims that insurance providers unjustifiably denied coverage for a $28 million settlement of challenges to Harman's 2017 merger with Samsung Electronics America Inc.

  • January 03, 2025

    Student Loan Servicer Gets CFPB Deal Paused Amid Appeal

    Student-loan servicer Pennsylvania Higher Education Assistance Agency can pause its work on fulfilling a settlement with the Consumer Financial Protection Bureau while an appeal to the Third Circuit of an "intertwined" settlement with the loan holders plays out, a federal judge ruled Friday.

  • January 03, 2025

    Fund Manager Says Broker-Dealer's Retaliation Led To Losses

    Financial services company Leader Capital Corp. has sued a broker-dealer and a marketing services company for allegedly making false and misleading representations to investors about Leader Capital's compliance with securities laws, causing at least $3.5 million in damage after the investors withdrew funds.

  • January 03, 2025

    Outcome Execs Say Ill. Judge Should End Restitution Process

    Outcome Health's former executives say the Illinois federal judge working to calculate how much they should repay investors following their fraud conviction should end the "largely academic" exercise because prosecutors haven't shown financial loss, and other repayment avenues remain open.

  • January 03, 2025

    Food Delivery App Inks $80M Deal To End SPAC Merger Suit

    Investors suing mobile food delivery and ride-hailing services operator Grab Holdings Ltd. have asked a New York federal judge to preliminarily approve an $80 million deal to settle claims that several sections of a proxy statement Grab filed with a special purpose acquisition company were false and misleading.

  • January 03, 2025

    Hertz Off The Hook For $337M Bond In Claim Recalculation Tiff

    A Delaware bankruptcy judge said Hertz Corp. doesn't need to post a $337.4 million bond while she uses an appeals court decision on underpaid interest to recalculate a group of unsecured noteholders' claims, writing the request would alter Hertz's more than 3-year-old Chapter 11 plan and give the noteholders better treatment than other creditors.

  • January 03, 2025

    Venable Faces DQ Bid In AmeriMark Shareholder Dispute

    Attorneys from Venable LLP and Parsons Behle & Latimer PC have been hit with a disqualification bid in Utah federal court in a shareholder dispute involving AmeriMark Group AG, with the defendants arguing the lawyers are representing both the suing shareholder and the AmeriMark subsidiary at the heart of the dispute, causing a conflict of interest.

  • January 03, 2025

    Missed Deadline Bars Startup Investors' Conspiracy Claims

    A three-year statute of limitations — missed by a little more than a month — dooms civil conspiracy claims in a lawsuit alleging that partners in a venture capital firm created "sham" independent contractor agreements with a firm controlled by one of its partners to charge "massive and inexplicable" fees, a Massachusetts judge has ruled.

Expert Analysis

  • Predicting What's Next For SEC By Looking At Past Dissents

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    While Paul Atkins' nomination to be the next chair of the U.S. Securities and Exchange Commission has taken center stage, an analysis of Republican Commissioners Hester Peirce and Mark Uyeda's past votes and dissents provides a preview of where enforcement may shift in the new administration, say attorneys at Gibson Dunn.

  • Exploring Venue Strategy For Trump-Era Regulatory Litigation

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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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.

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