Securities

  • March 12, 2025

    Crypto CEO Linked To Jack Abramoff Convicted Of Fraud

    A California federal jury on Wednesday convicted a cryptocurrency company founder of fraud and money laundering over allegations he stole more than $10 million from tens of thousands of investors in a scheme that involved disgraced ex-lobbyist Jack Abramoff.

  • March 12, 2025

    PwC Singapore Fudged Compliance Test Data, PCAOB Says

    PricewaterhouseCoopers' Singapore unit has agreed to pay $1.5 million to settle allegations from the Public Company Accounting Oversight Board that the firm failed to have proper policies and procedures in place for periodic reviews of staff members' financial independence.

  • March 12, 2025

    Ex-Smartmatic Execs Seek FCPA Reprieve After Trump Order

    Two former executives of electronic-voting system developer Smartmatic asked a Florida federal judge on Wednesday to push back the schedule in their bribery case while the U.S. Department of Justice reviews pending Foreign Corrupt Practices Act cases.

  • March 12, 2025

    Ohio Man Gets 30 Months For $2M Energy Investment Scam

    An Ohio man was sentenced to 2½ years in federal prison for his role in a $2 million scheme that duped investors into thinking they were funding the construction of a plant that would convert biodegradable waste into green energy, acting U.S. Attorney Troy Rivetti announced.

  • March 12, 2025

    Mallinckrodt Investors Ask NJ Court To Approve $46M Deal

    A group of Mallinckrodt PLC investors has asked a New Jersey federal judge to grant final approval to a $46 million settlement they reached with executives and directors of the pharmaceutical company to resolve claims that they misrepresented the prospects of a drug the company developed.

  • March 12, 2025

    Feds, Ex-Cognizant Execs Ink April Date For FCPA Trial

    A New Jersey federal judge set an April 7 trial date for the Foreign Corrupt Practices Act case against two former Cognizant Technology Solutions Corp. executives on Wednesday, firming up a case timeline that's been beset by multiple delays, most recently due to the Trump administration's retreat from enforcing the statute.

  • March 12, 2025

    Ex-Fed Examiner Seems Prison-Bound In Insider Trading Case

    A former senior banking supervisor for the Federal Reserve Bank of Richmond who pled guilty to insider trading appears likely to be sentenced to prison later this month, after both he and prosecutors have asked a Virginia federal judge for a custodial sentence.

  • March 11, 2025

    Crypto CEO A 'Grifter' Who Stole Millions, Jurors Told

    Cryptocurrency company founder Marcus Andrade is a "grifter" who stole millions and left investors empty-handed, a prosecutor told a California federal jury Tuesday during closing arguments while a defense lawyer said his client was a "dreamer" who acted in good faith and was taken advantage of by ex-lobbyist Jack Abramoff.

  • March 11, 2025

    Musk Opens Del. Appeal To Recover $56B In Tesla Pay

    Elon Musk on Tuesday launched his Delaware Supreme Court appeal aimed at a Court of Chancery decision that had short-circuited the electric car company's 10-year, $55.6 billion compensation plan for the celebrity CEO.

  • March 11, 2025

    Digimarc Faces Investor Suit Over Subscription Plunge

    Digital watermarking technology company Digimarc Corp. and two of its executives face a proposed investor class action alleging that the company failed to warn investors that its recurring revenue would take a significant hit after one of its major customers had its contract expire in June.

  • March 11, 2025

    SEC Disgorgement Snipped By $1M In Collectibles Fraud Case

    A New York federal judge has trimmed over $1 million from a disgorgement award the U.S. Securities and Exchange Commission sought in a long-running suit against a sports memorabilia merchant found liable at trial for ripping off investors, after a recalculation revealed that the company had already repaid some of its victims.

  • March 11, 2025

    SDNY Illicit Finance Unit Co-Chief To Depart US Atty's Office

    The co-chief of the Southern District of New York's Illicit Finance and Money Laundering Unit said in a withdrawal notice that he's leaving the U.S. attorney's office at the close of this week and requested that he be removed as counsel of record in an ongoing criminal case.

  • March 11, 2025

    Origin Brass Face Investor Suit Over Factory Delay Disclosure

    Executives and directors of sustainable chemical manufacturer Origin Materials have been hit with a shareholder's derivative suit alleging that they concealed a three-year construction delay affecting a production facility the company was building that increased company costs and altered relationships with its customers, including Pepsi.

  • March 11, 2025

    Innodata Slams 'AI Washing' Shareholder Suit As Flimsy

    Investors in data engineering company Innodata Inc. "essentially cut and pasted" claims from a short-seller's report on the company into their proposed class action accusing the company of "AI washing," despite the company's recovery from a related trading price dip, the company has argued.

  • March 11, 2025

    Florida Judge Won't Block FINRA Action Against Broker

    A Florida federal judge has declined to block a Financial Industry Regulatory Authority enforcement action against a broker-dealer representative, despite his claims that the pending in-house hearing is unconstitutional under the U.S. Supreme Court's recent Jarkesy decision.

  • March 11, 2025

    Hedge Fund Group Sends SEC Its Regulatory Wish List

    The U.S. Securities and Exchange Commission should reevaluate rules that impose "significant, unjustified costs and burdens on investors and other market participants with little to no corresponding benefits," the Managed Funds Association said in a letter to the regulator Tuesday.

  • March 11, 2025

    NY's Banking Regulator Hangs 'Help Wanted' Sign In DC

    At a Washington, D.C., appearance on Tuesday, New York's top financial services regulator Adrienne Harris had a message for the legions of federal financial agency employees who have been cut loose by the Trump administration in recent weeks: She's hiring.

  • March 11, 2025

    Entity That Got Ponzi Scheme Funds Must Face SEC Suit

    A Texas federal judge has declined to free an entity that accepted part of proceeds from an $8.4 million Ponzi scheme from an SEC action, writing that he could "reasonably infer" the entity did not accept the funds in good faith.

  • March 11, 2025

    Weapons Check Co. Sued In Del. After Hyped Reports, Probes

    A shareholder of weapons screening system developer Evolv Technologies fired off a derivative suit on the company's behalf in Delaware's Court of Chancery late Monday, seeking recovery of damages arising from allegedly hyped marketing of flawed, artificial intelligence-enabled systems that failed to meet threat detection claims.

  • March 11, 2025

    GPB Capital Execs Denied New Trial In Fraud Case

    Two GPB Capital executives were denied a new trial by a Brooklyn federal judge who said a jury was reasonable in finding them guilty of running their funds like a Ponzi scheme, using investor capital to make distribution payments to give the appearance of a healthy portfolio.

  • March 11, 2025

    Conservative Outlet Newsmax Eyes $75M Go-Public Offering

    Newsmax Inc. said on Tuesday it plans to raise up to $75 million in a scaled-down alternative to a traditional initial public offering, represented by Sheppard Mullin Richter & Hampton LLP, a potential debut for the conservative media company in public markets.

  • March 11, 2025

    Zillow Investors Urge 9th Circ. To Uphold Class Certification

    A class of Zillow Group Inc. investors told the Ninth Circuit to reject the property listing company's bid to overturn the class certification of their suit accusing the company of making misleading statements about its home-flipping program and causing stock prices to drop.

  • March 11, 2025

    BigLaw Firms Join To Support Del. Corporate Law Changes

    Twenty-one law firms with Delaware corporate practices have jointly endorsed pending state legislation, S.B. 21, that aims to narrow stockholder avenues for challenging corporate acts and clarify the definition of company controllers.

  • March 11, 2025

    NYC Workers Can't Revive Fossil Fuel Divestment Challenge

    A New York state appeals court refused Tuesday to reopen a lawsuit claiming several New York City pension plans unlawfully put politics over municipal employees' financial needs by divesting $3.9 billion from fossil fuels, backing a trial court's determination that the workers hadn't shown their benefits were affected.

  • March 11, 2025

    A Brief Look At Delaware's Divisive Corporate Law Bill

    Delaware state Senate Bill 21, up for a Judiciary Committee vote on Wednesday, overturns some provisions of landmark state Supreme Court rulings, from Kahn v. M&F Worldwide Corp. in 2014 to In re Match Group a decade later, which call for plaintiff-friendly entire fairness review for controller transactions.

Expert Analysis

  • 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.

  • Opinion

    No, Litigation Funders Are Not 'Fleeing' The District Of Del.

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    A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.

  • The Compliance Trends And Imperatives On Tap In 2025

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    The corporate ethics and compliance landscape is rapidly evolving, posing challenges from conflicting stakeholder expectations to technological disruptions, and businesses will need to explore human-centered, data-driven and evidence-based practices, says Hui Chen at CDE Advisors.

  • 5 E-Discovery Predictions For 2025 And Beyond

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    In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.

  • Best Practices To Find Del. Earnout Provisions That Hold Up

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    Recent Delaware earnout litigation illustrates the need for careful drafting and proactive planning to avoid later divergent interpretations of the signed contract, and a series of drafting tips can help, say attorneys at Cozen O'Connor.

  • Climate Disclosure Spotlight Shifts To 2 Calif. Laws

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    With Donald Trump's election spelling the all-but-certain demise of the proposed federal climate disclosure rules, new laws in California currently stand as the nation's only broadly applicable climate disclosure requirements — and their brevity is both a blessing and a curse, say attorneys at Davis Polk.

  • What's Ahead As Transparency Act Comes To A Crossroads

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    Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.

  • UBS Ruling Shows SDNY's Pro-Award Confirmation Stance

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    A New York federal court's recent ruling upholding an arbitration award in Lakah v. UBS, a long-running dispute over a bond debt default, serves as a reminder that New York courts carry a strong presumption toward binding parties to arbitration agreements and enforcing arbitral awards, say attorneys at Mayer Brown.

  • Where Payments Law And Regulation Are Headed In 2025

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    The Trump administration will likely bring significant changes to payments regulations in 2025, but maintaining internal compliance efforts in the absence of robust federal oversight will remain key as state authorities and private plaintiffs step into the breach, say attorneys at Stinson.

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