Try our Advanced Search for more refined results
Securities
-
May 28, 2024
Exxon Investor Broadens Promise To Nix Climate Proxy Bid
An activist investor sued by Exxon Mobil Corp. over a now-withdrawn shareholder proposal concerning climate change has again called on the oil giant to withdraw its suit after broadening its previous promise not to resubmit the proposal in the future.
-
May 28, 2024
Texas Crypto Mining CEO Hits Back At SEC's $5.6M Fraud Suit
The CEO of a crypto-asset mining and hosting company wants out of the U.S. Securities and Exchange Commission's suit accusing him and the company of defrauding investors through a $5.6 million unregistered securities offering, arguing that its agreements with clients were not securities.
-
May 28, 2024
Holland & Knight Adds BCLP Corporate Pro, Marine Veteran
Holland & Knight LLP is continuing its corporate practice growth with the addition of a Bryan Cave Leighton Paisner LLP counsel and U.S. Marine Corps veteran in New York, the firm announced on Tuesday.
-
May 28, 2024
OpenText Says Excess Insurer Can't Join Merger Spat
OpenText urged a Michigan federal court to keep an excess insurer out of a coverage dispute stemming from an underlying class action over the software company's merger with Covisint, arguing that the insurer's reasons behind wanting to intervene are speculative and unripe.
-
May 28, 2024
Deutsche Bank Wins Conn. Appeal In Battle With Billionaire
Deutsche Bank AG can continue to fight one prong of its sprawling, decade-long legal battle against billionaire Alexander Vik and his daughter as it seeks to satisfy a $243 million judgment rendered in the United Kingdom, the Connecticut Supreme Court ruled Tuesday.
-
May 28, 2024
Chinese EV Co. Falsely Touted Vehicle Demand, Suit Claims
China-based electric vehicle maker Li Auto Inc. and three of its executives are facing a proposed class action faulting the company for allegedly hurting investors after it announced it would fall well short of ambitious production goals in early 2024.
-
May 28, 2024
Chancery Speeds Microsoft Query Over $68.7B Activision Deal
Microsoft Corp. is entitled to a quick court declaration on whether its $68.7 billion acquisition of Activision Blizzard Inc. in October was valid, and a pension fund shareholder that challenged the deal has a right to be involved in the process, Delaware's Court of Chancery said Tuesday.
-
May 28, 2024
FTX Exec Who Acted As Bankman-Fried 'Tool' Gets 7½ Years
A Manhattan federal judge hit cryptocurrency finance expert and former FTX executive Ryan Salame with a 7½-year sentence Tuesday for duping a bank to authorize $1.5 billion of illegal transfers and making fraudulent campaign contributions for the exchange's convicted founder, Sam Bankman-Fried.
-
May 24, 2024
SEC Hits Back At SolarWinds' 'Distortion' Allegations
The U.S. Securities and Exchange Commission sent a letter to a New York federal judge Friday pushing back on SolarWinds Corp.'s accusations that it was overstating and distorting its case against the government contractor over a data hack, saying its complaint is "well-grounded in facts" uncovered during its investigation.
-
May 24, 2024
Electric Car Co. Execs Hid Supply Issues, New Suit Claims
A shareholder of ChargePoint Holdings Inc. alleged Friday that current and former officers and directors of the electric vehicle charging station company misrepresented the company's business prospects and failed to disclose supply overruns for charging products, causing a stock drop when the truth was finally revealed.
-
May 24, 2024
Petition Watch: Forum Shopping, Monopolies & Gun Safety
Law360 looks at four U.S. Supreme Court petitions filed in the past two weeks, including the FDA's request that the justices curb an increase in forum shopping at the Fifth Circuit, and two veterinarians who want the justices to allow plaintiffs to pursue antitrust claims for actions allegedly leading to the creation of a monopoly.
-
May 24, 2024
OCC Orders Controls Improvements At Comerica
The Office of the Comptroller of the Currency has ordered a Comerica unit to strengthen its asset management controls and address other "unsafe or unsound practices," according to a newly released consent order.
-
May 24, 2024
PIMCO Says It Needs To Assess CFPB's Loan Service Deal
Investment management giant PIMCO told a Pennsylvania federal judge on Friday that it needs more time to study a proposed $5 million settlement between the Consumer Financial Protection Bureau, a Pennsylvania student loan servicer and multiple student loan trusts, saying its funds are invested in the trusts and may need to consent to the deal.
-
May 24, 2024
SEC Says Crypto Firm's Challenge Is 'Fatally Premature'
The U.S. Securities and Exchange Commission told a Texas federal judge on Friday that a yet-to-launch crypto exchange's bid to bar any future enforcement action is "fatally premature" since the firm hasn't identified a final action to challenge.
-
May 24, 2024
House Lawmakers Want New Hearing With FDIC's Gruenberg
Federal Deposit Insurance Corp. Chair Martin Gruenberg is scheduled to appear before the U.S. House Financial Services Committee to answer questions about the damning findings of a probe of the FDIC's workplace culture.
-
May 24, 2024
Moelis-Inspired Corporate Law Bill Introduced In Del.
Proposed amendments to Delaware's corporate code that some say could potentially upend the traditional power structure within corporations were introduced in Delaware's Legislature, despite outcry from many academics, corporate law attorneys, and some business groups that the changes are going too far, too fast.
-
May 24, 2024
Xponential Fitness Sues Ex-CEO In Del. To Avoid Calif. Court
Fitness brand franchiser Xponential Fitness Inc. sued its recently resigned CEO in Delaware Chancery Court Friday, asking the court to find that the First State's laws, not California's, govern a dispute over the former CEO's right to inspect the company's books and records.
-
May 24, 2024
CFTC's Johnson Is Under Consideration For FDIC Top Job
The Biden administration is considering Kristin Johnson, a Democratic member of the U.S. Commodity Futures Trading Commission, as a possible candidate to replace Martin Gruenberg at the helm of the Federal Deposit Insurance Corp., Law360 has learned.
-
May 24, 2024
Biden's Judicial Impact And What's Left On The Wish List
President Joe Biden secured confirmation of his 200th federal judge Wednesday and has transformed the judiciary by picking more women and people of color than any other president. But the upcoming election season could derail his hopes of confirming many more judges.
-
May 24, 2024
DC Circ. Says Bainbridge Can't Have Argentina's Building
The D.C. Circuit on Friday denied an appeal from Bainbridge Fund Ltd. in a property dispute with Argentina, saying the company can't take possession of the property in an effort to satisfy a $95 million judgment over defaulted bonds.
-
May 24, 2024
NYSE Companies Could Face Heat If Business Focus Changes
A New York Stock Exchange proposal seeking additional authority to delist companies that enact wholesale business changes after going public could subject certain companies to more scrutiny, attorneys say, though such drastic actions are expected to be rare.
-
May 24, 2024
Exiled Chinese Businessman Is No $1B Fraudster, Jury Told
Exiled Chinese businessman and purported billionaire Guo Wengui ran legitimate companies in support of a broad movement that opposed the Chinese Communist Party, his attorney told a Manhattan federal jury Friday, rather than what prosecutors say was a multifaceted $1 billion fraud.
-
May 24, 2024
Coinbase Says Crypto Securities Question Is Ripe For Review
Crypto exchange Coinbase again urged a Manhattan federal judge to send to the Second Circuit the question of whether digital assets meet the definition of investment contracts, saying the question could "shape or distort a multitrillion-dollar industry."
-
May 24, 2024
Foley & Lardner Given All-Clear To Exit SEC Suit
A North Carolina federal judge permitted Foley & Lardner LLP on Friday to exit as counsel for a Malta-based registered investment adviser that is defending claims in a $75 million lawsuit brought by the U.S. Securities and Exchange Commission, despite the judge's previous concerns about the firm's withdrawal.
-
May 24, 2024
DLA Piper Adds Corporate Ace From Goodwin In Calif.
A finance lawyer with deep expertise has joined DLA Piper from Goodwin Procter LLP in its Palo Alto shop, strengthening its offerings in the Golden State.
Expert Analysis
-
Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
-
Reverse Merger Tips For Biotechs After SEC's Recent Actions
Several recent U.S. Securities and Exchange Commission developments could limit the viability of reverse mergers for biotech companies, and will require additional creativity and analysis for private companies looking to go public, say attorneys at Orrick.
-
Black-Led VC Fund Case Could Hinge On Nature Of Grants
Organizations whose missions involve any manner of race-conscious funding should closely monitor arguments this week in American Alliance v. Fearless Fund, a case filed against a grant program that seeks to address the gap in venture capital funding for Black women-led businesses, which will examine whether grants are charitable under Civil Rights Act Section 1981 liability, say Kali Schellenberg and John Stapleton at LeVan Stapleton, and Kenneth Trujillo at Chamberlain Hrdlicka.
-
Ex-OpenSea Staffer Case May Clarify When Info Is Property
In considering the appeal of a former OpenSea manager’s wire fraud conviction in U.S. v. Chastain, the Second Circuit may soon provide guidance about whether economic information is traditional property in certain insider trading prosecutions — a theory of fraud that the U.S. Supreme Court has repeatedly narrowed, say attorneys at Debevoise.
-
Takeaways From SEC's Aggressive Cybersecurity Moves
The U.S. Securities and Exchange Commission's intensifying policy on cybersecurity and securities violations in the wake of a data breach — like its enforcement action against SolarWinds and its security officer — has emboldened shareholders to file related suits, creating a heightened threat to public companies, say attorneys at Baker McKenzie.
-
Considerations For Lawyer Witnesses After FTX Trial
Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.
-
NY Discovery Stay Ruling Empowers Securities Defendants
A New York state appeals court’s recent decision in Camelot Event v. Morgan Stanley — which extends a federal securities law's discovery stay to state courts — clarifies an issue that has perplexed state courts across the country and provides the advantage of reduced discovery costs to securities defendants, say Katherine Kelly Fell and Jeremy Wertz at Milbank.
-
Del. Dispatch: Efforts Clause Trumps Contractual Right
The Delaware Court of Chancery's Chordia v. Lee ruling this month — that the efforts clause set forth in a stockholders' agreement overrode the acquired company's right to fire its officers and employees — highlights key considerations for parties in such agreements to avoid post-acquisition disputes, say attorneys at Fried Frank.
-
Employee Experience Strategy Can Boost Law Firm Success
Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.
-
And Now A Word From The Panel: A Strong Year For MDLs
While the Judicial Panel on Multidistrict Litigation granted even fewer MDL petitions last year than in 2022, hitting a 21st-century low, a closer look at the record-setting number of total actions encompassed within current proceedings reveals that MDL practice is still quite robust, says Alan Rothman at Sidley.
-
What EU And UK Corp. Corruption Reform Means For US Cos.
Legislative developments in the U.K. and European Union have signaled that the prosecution of fraud and corruption is becoming a greater priority, and large U.S. companies with a global presence should view them as an opportunity to create and revise their global compliance programs, say attorneys at DLA Piper.
-
Series
Competing In Triathlons Makes Me A Better Lawyer
While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.
-
Where Justices Stand On Chevron Doctrine Post-Argument
Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.
-
Precise Advance Notice Bylaws May Help Prevent Disputes
While the Chancery Court's December decision in Kellner v. AIM Immunotech shows that Delaware courts won't always uphold advance notice bylaws, and its willingness to selectively enforce or invalidate individual provisions doesn't create an incentive for companies to be surgical in their drafting, companies should nonetheless be precise when drafting such bylaws to avoid unnecessary disputes, say attorneys at Debevoise.
-
Perspectives
6 Practice Pointers For Pro Bono Immigration Practice
An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.