Securities

  • March 04, 2025

    Chinese Theme Park Co. Can't Nix Investors' 'Hellscapes' Suit

    A California federal judge will allow investors' securities fraud claims against a Chinese amusement park operator to proceed, finding they plausibly claimed that the company inflated visitor numbers and financials for its park, causing an 89% stock price decline when the truth was eventually revealed.

  • March 04, 2025

    Agencies Have 'Ultimate' Authority Over Firings, OPM Says

    The Office of Personnel Management on Tuesday issued a revised version of its January memo directing agency heads to identify all probationary employees, adding a disclaimer that OPM "is not directing agencies to take any specific performance-based actions" and that agencies "have ultimate decision-making authority."

  • March 04, 2025

    Semiconductor Co. Faces Suit Over Apple Biz Loss, AI Hype

    Semiconductor maker Skyworks Solutions Inc. was hit Tuesday with a proposed investor class action alleging it hurt investors by downplaying the risks posed by the loss of business from iPhone maker Apple, a major customer, and overplaying the strength of artificial intelligence to its business.

  • March 04, 2025

    Blockchain Org. Wins $3.5M Fees From Trader's Seized Assets

    Crypto project the ICON Foundation is set to receive $3.5 million in attorney fees and costs after it successfully turned the tables on a user who sued the project after it took action to freeze millions of tokens he created by exploiting a bug in the project's software.

  • March 04, 2025

    EV Co. Lucid's Brass Face Investor's Production Capacity Suit

    Executives and directors of electric vehicle manufacturer Lucid Group Inc. have been hit with a proposed shareholder derivative suit in Delaware federal court alleging they concealed the extent of production issues plaguing the company in order to inflate share prices.

  • March 04, 2025

    Intel Beats Investor Suit Over 'Foundry' Losses, For Now

    Intel Corp. has beaten a proposed securities class action accusing it of misleading investors about the financial health of its so-called foundry segment, with the court finding Intel made all required disclosures regarding the segment's performance.

  • March 04, 2025

    NJ Judge Nixes Derivative Suit Over $38M Tech Co. Spinoff

    Top brass of a material-handling-equipment maker and the company's controlling shareholder no longer face a shareholder derivative action alleging that they breached their fiduciary duties with a plan to spin off assets to benefit the company's board chair.

  • March 04, 2025

    Bored Ape NFT Maker, Crypto Co. Say SEC Threats Are Over

    The crypto arm of trading firm DRW Holdings LLC and the company behind the celebrity-endorsed non-fungible token project known as the Bored Ape Yacht Club say that they are the latest in a string of digital asset firms to see the back of the U.S. Securities and Exchange Commission.

  • March 04, 2025

    PBMs Ask 8th Circ. To Pause FTC's Insulin Pricing Case

    Caremark Rx, Express Scripts and OptumRx have asked the Eighth Circuit to pause the Federal Trade Commission's in-house case accusing the pharmacy benefit managers of artificially inflating insulin prices as they push their constitutional claims against the agency.

  • March 04, 2025

    Chancery Finds Recent Precedent Backs Tesla's Texas Jump

    Elon Musk and Tesla on Monday beat a challenge in Delaware's Court of Chancery to the company's charter move to Texas, with fewer than two-thirds of shareholders approving, as the court invoked an opinion issued in November when a vice chancellor opened the door to The Trade Desk's exit to Nevada.

  • March 04, 2025

    UScellular, Investors Settle Suit Over Postpaid Phone Biz

    An Illinois federal judge said Monday that the parties in a shareholder suit accusing UScellular and its parent company of misleading investors about the health of their postpaid mobile phone segment have reported that they have reached a settlement in the case.

  • March 04, 2025

    Colo. Biotech, Founders Owe SEC $14.3M Over Fraud Claims

    A Colorado federal judge has ordered a biotech startup and two of its founders to pay the U.S. Securities and Exchange Commission roughly $14.3 million and barred them from serving as officers and directors of public companies after finding that they fraudulently raised over $10 million by overstating their own investments in the company.

  • March 04, 2025

    New US Atty Wants 6-Month Pause Of Cognizant Bribery Trial

    A federal judge has ordered the parties in a long-running Foreign Corrupt Practices Act case to file their positions Wednesday about how a 180-day adjournment would affect the Speedy Trial Act clock after a newly anointed U.S. attorney for the District of New Jersey asked to delay the trial of two former Cognizant Technology Solutions Corp. executives.

  • March 03, 2025

    Aspiration Founder Arrested For Alleged $145M Fraud Scheme

    Joseph Sanberg, co-founder of the celebrity-backed and sustainability-focused financial services company Aspiration Partners Inc., was arrested Monday over federal criminal allegations he schemed to defraud investor funds out of at least $145 million, federal prosecutors in California announced.

  • March 03, 2025

    SEC Expands Confidential Filing Options For Companies

    The U.S. Securities and Exchange Commission on Monday said it is expanding the range of filings that companies can submit for confidential review before such documents become public, predicting that the new accommodations will spur capital formation.

  • March 03, 2025

    Judge Tosses SEC Crypto Case For Lack Of US Ties

    Crypto founder Richard Heart has beaten a U.S. Securities and Exchange Commission suit over his Hex, PulseChain and PulseX crypto projects after the Brooklyn federal judge overseeing the case found the regulator failed to show enough stateside ties.

  • March 03, 2025

    FDIC Beats Bank's Constitutional Fight Over In-House Judges

    A Kansas federal judge tossed on Monday a local bank's constitutional challenge to administrative law judges presiding over the Federal Deposit Insurance Corp.'s $20.5 million anti-money laundering enforcement proceeding against the bank, ruling that the district court does not have the jurisdictional authority to hear the bank's Seventh Amendment claims.

  • March 03, 2025

    Adviser Funneled Investor Cash Into $300M Ponzi, Suit Says

    A Georgia financial adviser has been hit with a proposed class action alleging that she funneled investors into a company at the heart of what the U.S. Securities and Exchange Commission has called a $300 million Ponzi scheme.

  • March 03, 2025

    Broker Can't Use Jarkesy To Slip SEC's Pre-IPO Fraud Suit

    A New York federal judge on Monday ordered an unregistered broker-dealer and its managing member to comply with the U.S. Securities and Exchange Commission's administrative order requiring them to pay roughly $3.5 million to settle claims they made over $65 million selling interests in a portfolio of companies that hadn't yet gone public.

  • March 03, 2025

    SEC's Peirce Taps Ex-Willkie Partner For Crypto Task Force

    The U.S. Securities and Exchange Commission has hired a former Willkie Farr & Gallagher LLP partner into a leadership role in its new task force created to transform the agency's approach toward the cryptocurrency industry.

  • March 03, 2025

    Some 'ComEd Four' Bribery Counts Vacated Over Jury Charge

    An Illinois federal judge on Monday ordered a retrial on four bribery charges in the case against an ex-Commonwealth Edison executive and three lobbyists convicted of conspiring to bribe former Illinois House Speaker Michael Madigan, finding the jury was improperly instructed in the wake of a recent U.S. Supreme Court ruling but leaving intact the overarching conspiracy conviction.

  • March 03, 2025

    Jarkesy Can't Get Penny Stock Co. Out Of SEC Penalty

    The Second Circuit on Monday upheld the U.S. Securities and Exchange Commission's courtroom victory against a penny stock company found to have misled its investors about its financial state, ruling that the company couldn't lean on the U.S. Supreme Court's Jarkesy ruling to argue that a jury should have determined its punishment.

  • March 03, 2025

    Eckert Seamans Will Pay $38M To Par Funding Investors

    A Florida federal judge has signed off on a $38 million deal resolving legal malpractice claims against Eckert Seamans Cherin & Mellott LLC by investors who fell victim to a Ponzi scheme carried out by Par Funding, which enlisted the firm to help create the business model the lender ultimately used in the scheme.

  • March 03, 2025

    Chancery OKs Amended Suit In $8B Paramount Sale Fight

    Delaware's chancellor agreed Monday to the filing of an amended stockholder challenge to Paramount Global's $8.2 billion merger with Skydance Media and ordered responses by Tuesday from parties affected by a stockholder call for a fast-tracked probe of Paramount's response to an alternative, $13.5 billion offer.

  • March 03, 2025

    Kraken Joins Crypto Cos. Announcing SEC Case Dismissals

    Crypto exchange Kraken said Monday that the U.S. Securities and Exchange Commission is also walking away from its registration suit amid a bevy of crypto case dismissals and investigation closures that have come as part of a new approach to digital asset policy.

Expert Analysis

  • Series

    Coaching Little League Makes Me A Better Lawyer

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    While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.

  • 5 Litigation Funding Trends To Note In 2025

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    Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.

  • For Accounting Integrity, Start With The Rank-And-File

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    Macy's acknowledgment of an employee's accounting mistake underscores a valuable lesson for company leaders in fostering compliance with the Sarbanes-Oxley Act by cultivating a culture committed to strong accounting integrity and robust oversight, say Keerthika Subramanian and Jon Mantis at Winston & Strawn.

  • Managing Litigation Side-Switching During 2nd Trump Admin

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    Now that the new presidential administration is in place, the government will likely switch positions in a number of pending cases, and stakeholders should employ strategies to protect their interests, say attorneys at Covington.

  • Chancery May Have Raised Bar For Books, Records Requests

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    The Delaware Court of Chancery recently approved the denial of a books and records demand against Amazon, raising important questions about what evidence and purpose a stockholder is required to show to succeed on such a request, say attorneys at Selendy Gay.

  • The Blueprint For A National Bitcoin Reserve

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    The new administration has the opportunity to pave the way for a U.S.-backed crypto reserve, which could conceptually function as a strategic asset akin to traditional reserves like gold markets, hedge against economic instability, and influence global crypto adoption, say attorneys at Duane Morris.

  • Rethinking Litigation Risk And What It Really Means To Win

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    Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.

  • Takeaways From SEC's Registered Investment Cos. Risk Alert

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    The U.S. Securities and Exchange Commission's Division of Examinations' recent risk alert pertaining to registered investment companies provides a high-level overview of its risk-based approach to selecting RICs for examination — a potential hint that the division is investigating some of the covered topics, say attorneys at Simpson Thacher.

  • How DOGE's Bite Can Live Up To Its Bark

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    All signs suggest that the Department of Government Efficiency will be an important part of the new Trump administration, with ample tools at its disposal to effectuate change, particularly with an attentive Republican-controlled Congress, say attorneys at K&L Gates.

  • Small Biz Caught In Corporate Transparency Act Crossfire

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    Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.

  • 5 Notable Information Security Events In 2024

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    B. Stephanie Siegmann at Hinckley Allen discusses 2024's largest and most destructive data breaches seen yet, ranging from ransomware disrupting U.S. healthcare systems on a massive scale, to tensions increasing between the U.S. and China over cyberespionage and the control of U.S. data.

  • Series

    Playing Rugby Makes Me A Better Lawyer

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    My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.

  • What Broker-Dealers Must Know Before Selling Bitcoin ETPs

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    Interest in bitcoin exchange-traded products is already high, and only expected to grow in light of the incoming Trump administration's pro-crypto stance, but broker-dealers must still consider numerous regulatory requirements before recommending a bitcoin ETP to a client, say Frank Weigand and Justine Woods at Cahill Gordon.

  • Series

    Texas Banking Brief: All The Notable Legal Updates In Q4

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    The fourth quarter of 2024 brought noteworthy developments to the Texas financial services sector, particularly a new state artificial intelligence bill and a Consumer Financial Protection Bureau rule that will affect an outsize number of Texas community banks, says Tyler George at Naman Howell.

  • Cyber Disclosure Is A Mainstay In 2025 SEC Exam Priorities

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    Despite a new administration and a new U.S. Securities and Exchange Commission chair incoming, the SEC's 2025 examination priorities signal that cybersecurity disclosures and risk management practices will remain important due to the growing threat of cyberattacks, says Anjali Das at Wilson Elser.

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