Securities

  • November 14, 2024

    Ex-JP Morgan Rep To Stop Soliciting Clients Amid Arbitration

    A former J.P. Morgan Securities LLC employee who left to work for Morgan Stanley has agreed not to solicit customers from her former employer while the parties arbitrate the broker-dealer's claims she lured clients with more than $12 million in assets away to its rival.

  • November 14, 2024

    Judge Presses SEC Over 'Rogue Employee' In PE Fund Fight

    A Texas federal judge grilled the U.S. Securities and Exchange Commission over the circumstances that led to a private equity fund suing the regulator alleging it carried out a "fishing expedition" investigation, asking the agency about a "rogue employee" during a hearing Thursday.

  • November 14, 2024

    Supposed AI Fund's Manager Accused Of Wire, Securities Fraud

    A manager of a hedge fund that purported to use artificial intelligence has been indicted by a New York federal grand jury on charges of wire fraud and securities fraud after allegedly lying to investors and stealing hundreds of thousands of dollars for his own personal use, according to an indictment unsealed Thursday.

  • November 14, 2024

    Hasbro's Excess Toy Inventory Tanked Stock, Suit Says

    Toy and entertainment company Hasbro Inc. has been hit with a proposed shareholder class action alleging it falsely portrayed high inventory levels as a protective measure against supply chain issues despite knowing its inventory far exceeded actual consumer demand.

  • November 14, 2024

    MDL Counsel Present Deal With FTX Estate To Fla. Court

    Counsel for plaintiffs in the multidistrict litigation over the collapse of cryptocurrency trading platform FTX Trading Ltd. told a Florida federal judge Thursday that they have reached a deal with the FTX estate in bankruptcy.

  • November 14, 2024

    Crypto And Private Fund Groups Push SEC On Dealer Rule

    Crypto industry groups and private fund associations tag-teamed the U.S. Securities and Exchange Commission on Thursday during a hearing over two cases relating to the agency's expanded definition of securities dealers, telling a Texas federal court that the new rule marked a dramatic overreach by the regulator.

  • November 14, 2024

    Man Found Guilty Of Scamming NBA Players Seeks New Trial

    A Georgia businessman and recidivist fraudster is seeking a retrial after being convicted of swindling former NBA players Dwight Howard and Chandler Parsons out of a combined $8 million, in a scheme under which the pro basketball players believed their money was going toward legitimate investments.

  • November 14, 2024

    Split 5th Circ. Affirms SEC's Kroger Proxy Decision

    A divided Fifth Circuit on Thursday rejected a "purely theoretical" challenge brought by conservative shareholders unhappy that the U.S. Securities and Exchange Commission greenlighted the exclusion of a shareholder proposal from Kroger Co.'s 2023 ballot, noting that the case was moot since the company authorized a vote on the proposal anyway.

  • November 14, 2024

    XL Fleet SPAC Suit Tentatively Settled For $4.75M In Del.

    Investors in a December 2020 blank-check company merger that took hybrid-car retrofit venture XL Fleet public have preliminarily settled a four-count fiduciary duty breach suit in Delaware's Court of Chancery for $4.75 million.

  • November 14, 2024

    Red State AGs Sue SEC Over Crypto Policy

    A coalition of 18 Republican attorneys general led by Kentucky sued the U.S. Securities and Exchange Commission on Thursday for allegedly treading on the states' authority through a "regulatory landgrab" into the cryptocurrency industry.

  • November 14, 2024

    Trump Names Solicitor General, SDNY Picks

    President-elect Donald Trump announced on Thursday he is tapping for solicitor general the lawyer who represented him before the U.S. Supreme Court and will name his former chair of the U.S. Securities and Exchange Commission to be U.S. attorney for the Southern District of New York.

  • November 14, 2024

    Trump Taps His Criminal Defense Lawyer For Deputy AG

    President-elect Donald Trump on Thursday picked his personal defense attorney Todd Blanche to serve as second-in-command at the U.S. Department of Justice as deputy attorney general.

  • November 14, 2024

    Sports Media Co. Can't Sink SEC's $22M Fraud Suit

    A New York federal judge said media technology company Icaro Media Group Inc. and its CEO must face the U.S. Securities and Exchange Commission's suit alleging they raised more than $22 million from investors on fake claims that the company was about to launch a sports content application in partnership with major telecommunications companies.

  • November 14, 2024

    Robbins Geller Tapped To Lead Software Co. Investor Suit

    A pair of pension funds represented by Robbins Geller Rudman & Dowd LLP has beaten out individual investors vying to lead a shareholder class action against MongoDB Inc. over the software company's growth projections.

  • November 14, 2024

    Gaetz's Slim Legal Resume Raises Concerns Over AG Role

    Having never served as a prosecutor and with minimal experience practicing law, Matt Gaetz would have the thinnest legal resume of any attorney general in recent history and would face a steep learning curve, including daunting leadership challenges, if he were to take up the reins of the U.S. Department of Justice, experts say.

  • November 14, 2024

    Australia Bill Seeks To Expand Rules On Reporting Ownership

    Australia's government wants to fight tax avoidance by making owners of equity derivatives disclose significant owners to regulators and investors, expanding access to that information and giving securities regulators new powers to issue freezing orders for noncompliance, the Australian Treasury said Thursday.

  • November 14, 2024

    BCLP Brings On SEC Enforcement Atty In Atlanta

    Bryan Cave Leighton Paisner LLP's newest addition in Atlanta is an experienced enforcement attorney who spent time with both the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority.

  • November 14, 2024

    'We'll Leave It To Others': SEC's Gensler Hints At Exit

    U.S. Securities and Exchange Commission Chair Gary Gensler gave a lengthy speech Thursday about his legacy and what remains to be done on regulations related to investors' climate, artificial intelligence and crypto concerns.

  • November 14, 2024

    ADM Compliance Head To Depart Amid Co. Accounting Woes

    Archer-Daniels-Midland's head of compliance will leave the food and animal nutrition company, a spokesperson has confirmed, in a year that has seen the company grappling with regulatory probes into its accounting practices and related investor litigation.

  • November 14, 2024

    UPS Execs Swept Growth Issues Under Rug, Investor Says

    UPS has been hit with a second lawsuit in as many months from an investor who says the company inflated its 2024 earning projections before rolling out disappointing numbers this summer that sent the company's value plummeting.

  • November 13, 2024

    Tempur Sealy Has 'Keys' To Merger, Mattress Firm CEO Says

    Mattress Firm's CEO told a Houston judge Wednesday that he has not had any involvement in Tempur Sealy's post-acquisition agreements with mattress suppliers, testifying that Tempur's board chairman and CEO is the one "driving" the deal.

  • November 13, 2024

    Saxena, Cohen Milstein To Lead Sprout Social Investor Suit

    Saxena White PA and Cohen Milstein Sellers & Toll PLLC will represent a putative class of social media management company Sprout Social Inc. investors in consolidated litigation after the company missed its financial guidance and struggled to integrate an influencer marketing platform it acquired.

  • November 13, 2024

    2 Firms Tapped To Lead French Fry Maker Investor Suit

    Bernstein Litowitz Berger & Grossmann LLP and Grant & Eisenhofer PA have been named lead counsel in a now-consolidated suit in Idaho federal court accusing frozen potato products company Lamb Weston of scorching its revenue projections with the poor implementation of a new software system, leading to a nearly 20% share decline.

  • November 13, 2024

    Republic Bank's 'Dysfunction' Enabled Its Failure, FDIC Says

    The former Republic First Bank failed because of its inability to hold certain debt securities, its insufficient liquidity and an ineffective board and management team, according to a post-mortem review issued Wednesday by the Federal Deposit Insurance Corp.'s watchdog.

  • November 13, 2024

    Investors Ask FCC To Review $2.4B Paramount-Skydance Deal

    The Federal Communications Commission should refuse to approve Paramount Global's request to merge with Skydance Media LLC until minority shareholders have a chance to finish their investigation into the financial details of the deal, the leader of those investors told the agency.

Expert Analysis

  • Planning Law Firm Content Calendars: What, When, Where

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    During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.

  • Key Concerns To Confront In FDIC Brokered Deposit Proposal

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    Banks and fintech companies should note several fundamental issues with the Federal Deposit Insurance Corp.'s recent proposal to widen how it classifies brokered deposits, an attempt to limit prudential risk that could expose the industry and underbanked consumers who rely on bank-fintech apps to widespread unintended consequences, say attorneys at Gibson Dunn.

  • Crypto Gatekeepers May Be The Next Front Of Enforcement

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    Lawyers and other professionals who advise cryptocurrency companies should beware regulators' increasing focus on gatekeeper accountability, and should take several measures to fulfill their ethical and legal obligations, including implementing a robust vetting mechanism when representing crypto clients, say Temidayo Aganga-Williams and Xinchen Li at Selendy Gay.

  • Series

    Playing Golf Makes Me A Better Lawyer

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    Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.

  • Law Firms Should Move From Reactive To Proactive Marketing

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    Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.

  • 3 Ways To Limit Risks Of Black-Box AI In Financial Services

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    As regulators increasingly highlight the potential for artificial intelligence to make unfair consumer credit decisions, and require financial institutions to explain how these so-called black-box algorithms arrive at conclusions, companies should consider three key questions to reduce their regulatory risks from these tools, say Jeffrey Naimon and Caroline Stapleton at Orrick.

  • 3 High Court Rulings May Shape Health Org. Litigation Tactics

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    Three separate decisions from the U.S. Supreme Court's most recent term — Loper Bright, Corner Post and Jarkesy — will likely strengthen healthcare organizations' ability to affirmatively sue executive agencies to challenge regulations governing operations and enforcement actions, say attorneys at McDermott.

  • Opinion

    The Big Issues A BigLaw Associates' Union Could Address

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    A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.

  • Opinion

    It's Time For A BigLaw Associates' Union

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    As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.

  • Why DOJ's Whistleblower Program May Have Limited Impact

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    The U.S. Department of Justice’s new whistleblower pilot program aims to incentivize individuals to report corporate misconduct, but the program's effectiveness may be undercut by its differences from other federal agencies’ whistleblower programs and its interplay with other DOJ policies, say attorneys at Milbank.

  • How Justices Upended The Administrative Procedure Act

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    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • How Corner Post Affects Enviro Laws' Statutes Of Limitations

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    The U.S. Supreme Court's recent ruling in Corner Post v. Federal Reserve Board has helped to alter the fundamental underpinnings of administrative law — and its plaintiff-centric approach may have implications for some specific environmental laws' statutes of limitations, say Chris Leason and Liam Martin at Gallagher and Kennedy.

  • FTC Drives Crackdown On Connected Cars' Data Privacy Risk

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    After the Federal Trade Commission's warning to automakers about data privacy, which continues to emerge as a national concern, automakers must carefully examine their data collection, use and retention practices, say Catherine Castaldo and Michael Rubayo at Reed Smith.

  • Jarkesy May Thwart Consumer Agencies' Civil Penalty Power

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    The U.S. Supreme Court's ruling in U.S. Securities and Exchange Commission v. Jarkesy not only implicates future SEC administrative adjudications, but those of other agencies that operate similarly — and may stymie regulators' efforts to levy civil monetary penalties in a range of consumer protection enforcement actions, say attorneys at Holland & Knight.

  • Lessons From Recent SEC Cyber Enforcement Actions

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    The recent guidance by the SEC's Division of Corporation Finance is helpful to any company facing a cybersecurity threat, but just as instructive are the warnings raised by the SEC's recent enforcement actions against SolarWinds, R.R. Donnelley and Intercontinental Exchange, say attorneys at O'Melveny.

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