Securities

  • April 02, 2024

    SEC Republicans Criticize 'Punishing' Rulemaking Agenda

    U.S. Securities and Exchange Commission Chair Gary Gensler opened an annual agency conference Tuesday by defending efforts to write new regulations addressing the changing U.S. capital markets, while his Republican colleagues called on the commission to pare back a "punishing" rulemaking agenda that has included a controversial rule governing climate change disclosures.

  • April 02, 2024

    Jon Stewart Reveals Apple's Heavy Hand In Lina Khan Chat

    Federal Trade Commission Chair Lina Khan appeared on "The Daily Show" on Monday night for a wide-ranging conversation in which host Jon Stewart revealed that Apple wouldn't allow him to speak with her on a podcast related to his Apple TV+ show.

  • April 02, 2024

    9th Circ. To Hear Ex-Theranos Execs' Criminal Appeals In June

    The Ninth Circuit has set oral arguments in former Theranos CEO Elizabeth Holmes' high-stakes appeal of her criminal securities fraud conviction and 11-year prison sentence for June 11 — the same day the panel is scheduled to hear arguments in convicted ex-Theranos executive Ramesh "Sunny" Balwani's appeal.

  • April 02, 2024

    Straight Path Attys Seek $9.5M Fee After Chancery IDT Ruling

    Attorneys who mostly lost a yearslong Court of Chancery stockholder suit seeking as much as $1.2 billion in damages from IDT Corp. founder Howard Jonas based on allegedly coerced liability releases are seeking a $9.5 million attorney fee, saying the case proved Jonas' fiduciary disloyalty.

  • April 02, 2024

    Receiver Looks To Claw Back $1.2M After LA Ponzi Scheme

    A court-appointed receiver has urged a California court to enforce a $1.2 million arbitral award against two production companies as part of an effort to claw back funds that were the product of a $690 million Ponzi scheme perpetrated by a since-imprisoned Los Angeles actor.

  • April 02, 2024

    2 Firms Seek To Lead Boeing 737 Max Safety Investor Suit

    Labaton Keller Sucharow LLP and Robbins Geller Rudman & Dowd LLP have each asked a Virginia federal judge for a lead role in a securities lawsuit against Boeing over the safety of its 737 Max jets and the role Boeing's top brass allegedly played in diminishing shareholder value.

  • April 02, 2024

    Mattel Used Forfeited 401(k) Funds For Itself, Suit Says

    Mattel unlawfully utilized former workers' forfeited 401(k) funds to cover its retirement plan contributions rather than offsetting millions of dollars in expenses paid by plan participants, according to a proposed class action filed in California federal court.

  • April 02, 2024

    Arena Group Shareholders Sue Former CEO In Delaware

    Shareholders of the Arena Group — the digital publisher behind Sports Illustrated, TheStreet, Men's Journal and other brands — have sued the group's former CEO in Delaware's Court of Chancery, alleging wrongdoings ranging from fraud to gross negligence and demanding more than $10 million in compensatory damages.

  • April 02, 2024

    SelectQuote Beats Investor Suit Over Revenue Reports

    A New York federal judge has dismissed a lawsuit by investors of insurance distribution platform SelectQuote accusing it of reporting inflated revenue, saying the defendants' forward-looking projections are protected by the safe harbor of securities laws.

  • April 02, 2024

    King & Spalding Lands 3 Kasowitz Partners For Biz Litigation

    King & Spalding LLP announced Tuesday that it had hired three partners for its business litigation practice from Kasowitz Benson Torres LLP, including the co-chair of Kasowitz's real estate litigation practice group. 

  • April 02, 2024

    Feds Seek 4 Years For Ex-Amazon Coder In Novel Crypto Case

    Prosecutors have told a Manhattan federal judge that a former Amazon coder convicted on charges of hacking a "smart contract" should be sentenced to at least four years in prison in order to send a message to other would-be crypto fraudsters.

  • April 02, 2024

    Prosecutors Call Indicted Exec's Misconduct Claims 'Flawed'

    Prosecutors have asked a California federal judge to reject a bid for sanctions by a former healthcare CEO indicted on novel insider trading charges, arguing that his claims related to a separate case are based on "flawed grounds."

  • April 02, 2024

    Ex-Trustees Urge Ga. High Court To Take On Legal Fee Spat

    Former trustees of a furniture tycoon's trust have asked the Georgia Supreme Court to rule that the trust has a duty to defend them against claims from the trust beneficiaries, arguing that this "appeal has implications for every indemnitee/insured" in the state.

  • April 02, 2024

    Feds Seek Leniency For UK Billionaire Lewis In Trading Case

    Prosecutors have told a Manhattan federal judge that 87-year-old British billionaire Joe Lewis should serve less than 18 months in prison after he pled guilty to insider trading, citing his age and health and arguing he "has otherwise lived a law-abiding life."

  • April 02, 2024

    Cohen Milstein Hires CFTC Whistleblower Office Leader In DC

    Cohen Milstein Sellers & Toll PLLC has hired the acting director of the Commodity Futures Trading Commission's whistleblower office, who brings more than two decades of experience working in related roles in public service to the platform.

  • April 02, 2024

    Law Firm Can't Make Atty Arbitrate Pay Spat, NC Panel Rules

    A local law firm can't force a former shareholder to arbitrate his suit alleging he was stiffed on pay, the North Carolina Court of Appeals ruled Tuesday, saying it would be a stretch to find his claims stem from two side agreements containing arbitration clauses.

  • April 02, 2024

    UK Reaches Landmark AI Risk Testing Agreement With US

    The U.K. government said Tuesday it had reached a landmark agreement with the U.S. to share the testing of advanced models for artificial intelligence, after highlighting in a report its increasing use by cybercriminals to attack financial institutions and business.

  • April 02, 2024

    DOL Narrows Retirement Asset Manager Exemption

    The U.S. Department of Labor unveiled a final regulation Tuesday making it tougher for investment managers with serious misconduct on their records to handle Employee Retirement Income Security Act-covered retirement plans, broadening an ineligibility clause that previously only covered criminal convictions.

  • April 01, 2024

    Inotiv Can't Toss Investor Suit Over Feds' 'Puppy Mill' Probe

    Medical research services provider Inotiv Inc. must face a proposed investor class action accusing it of failing to disclose that subsidiaries it acquired had come under investigations by the U.S. Department of Justice for animal welfare and smuggling violations, an Indiana federal judge ruled while lamenting the "appalling" mistreatment of beagles that investigators had found.

  • April 01, 2024

    Pharma Co. Beats Investor Suit Over Wrinkle Drug Approval

    A California federal judge has dismissed a lawsuit from the investors of Revance Therapeutics Inc. accusing it and several executives of concealing quality control concerns that eventually led the U.S. Food and Drug Administration to deny the company a license for its wrinkle injectable, saying the defendants may not have known the approval timeline they presented was unattainable.

  • April 01, 2024

    2 Firms To Rep Marathon Digital Investors In Accounting Suit

    Pomerantz LLP and the Schall Law Firm have beaten out two other legal teams to represent a proposed class of investors in a suit alleging crypto miner Marathon Digital misstated its revenue as a result of ineffective financial controls.

  • April 01, 2024

    Intel Hid Chip Production Delays From Investors, 9th Circ. Told

    Intel investors urged the Ninth Circuit on Monday to revive a proposed class action alleging that the tech giant hid problems with the production of its highly anticipated new computer processors, arguing that Intel repeatedly assured investors that production was "on track," even when Intel management allegedly knew Intel wouldn't meet certain deadlines.

  • April 01, 2024

    Cybersecurity Heads Back SolarWinds' Push To Nix SEC Suit

    Cybersecurity experts from dozens of private companies decried the U.S. Securities and Exchange Commission's lawsuit against SolarWinds and its cybersecurity head, arguing the unprecedented effort to hold the pair accountable for a 2020 cyberattack could undermine U.S. national security.

  • April 01, 2024

    Chinese Investment Fund Looks To Enforce $4.4M Award

    A Chinese investment fund has asked a California federal court to enforce a $4.4 million arbitral award against a businessman, saying he reneged on his promise to acquire a stake in an energy management company and now won't appear before an arbitration tribunal.

  • April 01, 2024

    Nasdaq Sank Minority-Led SPAC's Tech Co. Merger, Suit Says

    The Nasdaq Stock Market along with in-house lawyers and other executives face claims they "arbitrarily and capriciously" abused their discretion to unfairly undermine a merger plan for a minority-led special purpose acquisition company seeking to bring a minority-led technology company onto the stock market.

Expert Analysis

  • Preparing For DOJ's Data Analytics Push In FCPA Cases

    Author Photo

    After the U.S. Department of Justice’s recent announcement that it will leverage data analytics in Foreign Corrupt Practice Act investigations and prosecutions, companies will need to develop a compliance strategy that likewise implements data analytics to get ahead of enforcement risks, say attorneys at Cozen O'Connor.

  • How High Court SEC Case Could Affect The ITC

    Author Photo

    While the U.S. Supreme Court’s upcoming ruling in U.S. Securities and Exchange Commission v. Jarkesy will likely spare the U.S. International Trade Commission from major operative changes, the ITC’s ability to issue penalties for violations of its orders may change, say Gwendolyn Tawresey and Ryan Deck at Troutman Pepper.

  • Open Questions After Elastos Crypto Class Action Settlement

    Author Photo

    The recent settlement in Owen v. Elastos Foundation resolving a class action fight over whether Elastos was required to register an initial coin offering with U.S. regulators has raised several questions that may be of interest to lawyers litigating cryptocurrency-related cases, including whether a crypto token constitutes a security under U.S. law, says Bradley Simon at Schlam Stone.

  • Del. Segway Dismissal Suggests Execs Not Liable For Biz Risk

    Author Photo

    While the debate continues within the Delaware Chancery Court over whether Caremark liability applies to matters of pure business risk, the court's recent rejection of Segway’s suit against the ex-president who oversaw financial difficulties suggests the court is uninterested in undermining the deference the business judgment rule grants corporate fiduciaries, say attorneys at Dechert.

  • $32.4M Fine For Info Disclosure Is A Stark Warning For Banks

    Author Photo

    The New York State Department of Financial Services and the Federal Reserve's fining of a Chinese state-owned bank $32.4 million last month underscores the need for financial institutions to have policies and procedures in place to handle confidential supervisory information, say attorneys at Sidley.

  • Exxon ESG Proxy Statement Suit May Chill Investor Proposals

    Author Photo

    Exxon Mobil’s recent use of a Texas federal lawsuit to intimidate shareholders into withdrawing a climate-friendly proxy proposal could inspire more public companies to sue to avoid adopting ESG resolutions — a power move that would chill activist investor participation and unbalance shareholder-corporate relations, say Domenico Minerva and James Fee at Labaton Keller.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

    Author Photo

    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

  • Implications For Digital Assets After SEC Settlement With DAO

    Author Photo

    The U.S. Securities and Exchange Commission's December settlement with BarnBridge — finding that the decentralized autonomous organization's products were securities under federal law — foreshadows increased enforcement attention on digital assets, and reveals arguments the SEC may use in similar disputes with decentralized finance protocols, say attorneys at K&L Gates.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

    Author Photo

    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Bitcoin ETF Approval Doesn't Mean SEC Approves Of Crypto

    Author Photo

    While the U.S. Securities and Exchange Commission's approval last month of 11 applications for spot exchange-traded funds tracking bitcoin is a landmark moment for the crypto-asset industry, investors who are hopeful that the SEC will approve similar crypto-based ETFs may be disappointed, says attorneys at Mintz.

  • A Closer Look At Novel Jury Instruction In Forex Rigging Case

    Author Photo

    After the recent commodities fraud conviction of a U.K.-based hedge fund executive in U.S. v. Phillips, post-trial briefing has focused on whether the New York federal court’s jury instruction incorrectly defined the requisite level of intent, which should inform defense counsel in future open market manipulation cases, say attorneys at Lankler Siffert.

  • Reducing Carbon Footprint Requires A Tricky Path For CRE

    Author Photo

    As real estate owners find themselves caught between rapidly evolving environmental, social and governance initiatives and complicated societal debate, they will need to carefully establish formal plans to remain both competitive and compliant, say Michael Kuhn and Mahira Khan at Jackson Walker.

  • Del.'s Tesla Pay Takedown Tells Boards What Not To Do

    Author Photo

    The Delaware Chancery Court’s ruthless dissection of the Tesla board’s extreme departures from standard corporate governance in its January opinion striking down CEO Elon Musk’s $55 billion pay package offers a blow-by-blow guide to mistakes Delaware public companies can avoid when negotiating executive compensation, say attorneys at Cleary.

  • The Corporate Disclosure Tug-Of-War's Free Speech Issues

    Author Photo

    The continuing conflict over corporate disclosure requirements — highlighted by a lawsuit against Missouri's anti-ESG rules — has important implications not just for investors and regulated entities but also for broader questions about the scope of the First Amendment, say Colin Pohlman, and Jane Luxton and Paul Kisslinger at Lewis Brisbois.

  • What New Calif. Strike Force Means For White Collar Crimes

    Author Photo

    The recently announced Central District of California strike force targeting complex corporate and securities fraud — following the Northern District of California's model — combines experienced prosecutorial leadership and partnerships with federal agencies like the IRS and FBI, and could result in an uptick in the number of cases and speed of proceedings, say attorneys at MoFo.

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!