Securities

  • 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.

  • March 03, 2025

    Defendant Admits To 'Shell Factory' Pump-And-Dump Scheme

    The final defendant rounded up in the "Shell Factory Fraud" prosecution of a group that created fake shell companies as part of a pump-and-dump scheme pled guilty Monday in Miami to one count of securities fraud.

  • March 03, 2025

    3rd Circ. Preview: Litigation Funder, J&J Seek Relief In March

    The Third Circuit's case lineup this month will task panels with determining if an American litigation funder can keep its dispute with a German law firm in federal court, and whether Johnson & Johnson can decertify class claims accusing the company of artificially inflating its stock price by failing to disclose the alleged cancer risks of its talc products.

  • March 03, 2025

    Former SDNY Top Prosecutor Kim Returns To Private Sector

    Veteran white-collar defense lawyer Edward Kim, who most recently served as acting U.S. attorney for the Southern District of New York, said Monday he is returning to the firm he founded, Krieger Lewin LLP, which will be known as KKL.

  • March 03, 2025

    Coinbase Wants To Know SEC Spend On Crypto Enforcement

    Crypto exchange Coinbase wants to know how much the U.S. Securities and Exchange Commission spent on its "regulation-by-enforcement campaign" against crypto firms under previous Chair Gary Gensler, according to a Freedom of Information Act request submitted on Monday.

  • March 03, 2025

    White & Case Hires Litigator Trio In New York From Weil

    White & Case LLP announced Monday that it has continued its expansion in New York with the addition of a trio of litigators from Weil Gotshal & Manges LLP, including the co-head of Weil's global litigation practice.

  • February 28, 2025

    SEC, Ex-Silvergate CFO Trade Shots Over Enforcement Case

    The U.S. Securities and Exchange Commission on Friday urged a New York federal court not to throw out its claims that the former chief financial officer of defunct crypto-focused bank Silvergate Capital concealed the bank's rocky financial position, saying that the executive is mischaracterizing its claims.

  • February 28, 2025

    Del. Judge Orders Trial On AMC Stock Swap Coverage Fight

    A Delaware Superior Court judge ordered a jury trial Friday on an AMC Entertainment Holdings Inc. insurer's claim that it never consented to cover part of a $99.3 million settlement with theater chain stockholders who challenged a preferred share conversion and reverse stock split.

  • February 28, 2025

    Space Co. Lied About Rocket Launch Timeline, Investors Say

    Aerospace company Rocket Lab USA Inc. has been hit with a proposed shareholder class action in California federal court alleging it intentionally concealed issues that would delay the test and commercial launches of a vehicle it developed.

  • February 28, 2025

    Beyond Meat Fries Investors' Fast-Food Production Woes Suit

    A Los Angeles federal judge has tossed, for good, a reworked investor class action accusing Beyond Meat of concealing major problems with its efforts to scale production on plant-based meat substitutes for fast-food chains like McDonald's, KFC and Pizza Hut.

  • February 28, 2025

    SEC's Crypto Turn Could Undermine Staff, Dem Member Says

    The U.S. Securities and Exchange Commission's sole Democratic member has spoken out against its postelection retreat from prosecuting crypto cases, warning that recent actions like the voluntary dismissal of a lawsuit against Coinbase threaten to undermine the agency's enforcement staff.

  • February 28, 2025

    Aimmune Shareholders' $27.5M Deal Over Sale To Nestle OK'd

    Aimmune Therapeutics Inc. stockholders won preliminary approval in California federal court on Friday for a $27.5 million settlement of their securities fraud class action alleging that Aimmune was falsely undervalued before its merger with Nestlé Health Science SA.

  • February 28, 2025

    Bioventus Hit With Del. Derivative Suit After NC Class Deal

    A Bioventus Inc. stockholder sued 15 current and former directors and officers of the medical device venture in Delaware's Court of Chancery to recover for the company tens of millions in losses tied to alleged mismanagement and corporate duty failures over a two year period.

  • February 28, 2025

    NY Man Found Guilty Of $7M Crypto Investment Scheme

    A New York man has been found guilty by a California federal jury of 14 counts related to allegations that he stole millions of dollars' worth of investment funds and moved them to sports betting sites located outside the U.S.

  • February 28, 2025

    Carbon Project Investor C-Quest Hits Ch. 7

    Carbon project developer C-Quest Capital has filed for Chapter 7 liquidation in a Delaware bankruptcy court as its ex-CEO faces charges he fraudulently obtained millions of dollars worth of carbon credits.

  • February 28, 2025

    Financial Adviser Denied Bond After Admitting $37M Tax Fraud

    A Mississippi federal judge denied bond to a financial adviser who admitted promoting an illegal tax shelter involving royalty deductions that caused a $37 million tax loss, according to court documents.

  • February 28, 2025

    Time To Abolish IPO 'Bureaucracy,' Law Professor Says

    The U.S. Securities and Exchange Commission's long-established practice of vetting initial public offering filings through back-and-forth comment letters with companies — essentially a screening process intended to rectify faulty disclosures before public dissemination — is a bureaucratic relic that should be done away with, a law professor argues.

  • February 27, 2025

    Norfolk Southern Escapes Investors' Derailment Fraud Suit

    A New York federal judge on Thursday dumped a proposed securities fraud class action alleging Norfolk Southern misled investors by falsely touting its commitments to safety while embarking on risky cost-cutting operational and staffing changes that ultimately led to 2023's fiery derailment in East Palestine, Ohio.

  • February 27, 2025

    SEC Revives Suit Alleging $4.1M Bogus Mutual Fund Scheme

    The U.S. Securities and Exchange Commission on Thursday revived a lawsuit accusing a Lithuanian citizen living in the U.S. of using a series of nonexistent mutual funds to bilk dozens of investors out of roughly $4.1 million.

  • February 27, 2025

    PennyMac Can't Avoid Investors' Suit Over Post-Libor Rate

    A California federal judge has ruled PennyMac's mortgage investment arm must face a suit accusing it of using last year's discontinuation of Libor to unlawfully lock in a lower dividend for some of its preferred stock, saying the plaintiffs have adequately pled that the company violated the LIBOR Act when it issued dividends at a fixed rate.

  • February 27, 2025

    Real Estate Fund Says Property Cos. Lost Investor Funds

    A real estate investment fund has sued various companies associated with a man accused by the U.S. Securities and Exchange Commission of defrauding investors in an alleged $1 billion scheme, telling a Florida state court that the companies made off with millions of dollars of investor funds meant to go toward specific real estate projects.

  • February 27, 2025

    Lottery.com Investor Suit Over IPO Disclosures Trimmed

    A New York federal judge trimmed a consolidated securities suit against third-party lottery website Lottery.com, tossing a handful of alleged misstatements made before its merger with a special purpose acquisition company and claims several of the individual defendants pushed through the merger for their financial gain, among other things.

  • February 27, 2025

    Crypto Fugitives Should Pay SEC $46M, Judge Recommends

    A cryptocurrency mining company and its founders, who fled to Brazil after the SEC launched an investigation, should be on the hook for more than $46 million in combined payments to harmed investors, along with interest and penalties, a magistrate judge has recommended.

  • February 27, 2025

    SEC Says Meme Coins Are Not Securities

    The U.S. Securities and Exchange Commission staff declared Thursday that so-called meme coins do not fall under the agency's jurisdiction and that purchasers of the coins should not expect to be protected by federal securities laws.

Expert Analysis

  • E-Discovery Quarterly: Rulings On Custodian Selection

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    Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.

  • Impact Of Successful Challenges To SEC's Rulemaking Ability

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    In 2024, the U.S. Securities and Exchange Commission faced significant legal challenges to its aggressive rulemaking agenda as several of its rules were vacated by the Fifth Circuit, which could hinder the SEC's ability to enact rules extending beyond express statutory authority in the future, say attorneys at Debevoise.

  • A Look At PCAOB's Record-Breaking Enforcement In 2024

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    The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.

  • 2 Cases May Enlighten UK Funds' Securities Litigation Path

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    Following recent nine-figure settlements in securities class actions against Apple and Under Armour, U.K. pension funds may increasingly lead U.S. shareholder derivative suits, advocating for transparency, better risk management and stronger governance practices, say lawyers at Labaton Keller.

  • Series

    Exercising On My Peloton Bike Makes Me A Better Lawyer

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    While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.

  • Takeaways From SEC's Mixed Results In '24 Crypto Litigation

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    Though the U.S. Securities and Exchange Commission's new leadership seems likely to create a more favorable cryptocurrency regulatory environment, it must also confront the consequences of, and lingering questions raised by, the SEC's 2024 policy of investigating and charging cryptocurrency trading platforms for operating unregistered exchanges, say attorneys at Dechert.

  • 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.

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