Securities

  • December 06, 2024

    Barclays Investors Get Initial OK For $19M Overissuance Deal

    A New York federal judge Friday granted the first green light to a $19.5 million settlement for a class of investors who bought Barclays PLC securities and then claimed the banking giant misled them about its internal controls before selling more than $17.6 billion in securities over its maximum registered amount.

  • December 06, 2024

    Two Firms To Rep CVS Investors In Benefit Unit Losses Suit

    Bernstein Litowitz Berger & Grossmann LLP and Bleichmar Fonti & Auld LLP will co-lead a proposed class of investors in consolidated litigation alleging CVS Health Corp. hurt investors as it announced its benefit unit's unanticipated losses.

  • December 06, 2024

    Merrill Lynch Can't Beat Stock Loan Class Cert. Bid

    A New York federal judge on Friday overruled objections from Bank of America unit Merrill Lynch to certify a class of investors, with a slightly extended class period, in a suit alleging the financial institution colluded with other major banks to avoid modernizing the stock loan market.

  • December 06, 2024

    FTX Says Three Arrows Can't Add $1.5B To Ch. 11 Claims

    FTX is pushing back against efforts by liquidators for defunct cryptocurrency hedge fund Three Arrows Capital to add more than $1.5 billion to its claims in FTX's Chapter 11 case in Delaware bankruptcy court.

  • December 06, 2024

    CFTC Tells DC Circ. Election Bets Turned Kalshi Into 'Casino'

    The Commodity Futures Trading Commission has told the D.C. Circuit that trading platform KalshiEx LLC "promptly turned its futures exchange into an online casino" when courts gave it the green light to list election contracts, urging the appeals court to overturn a lower court decision that the contracts don't involve unlawful gaming.

  • December 06, 2024

    $29.75M Deal Proposed To End Del. Latch Inc. SPAC Suit

    Attorneys for investors who bought into Latch Inc.'s Tishman Speyer-led, $1.5 billion take-public deal only to see their shares nosedive have tentatively settled consolidated class damage claims for $29.75 million, according to a Delaware Court of Chancery filing.

  • December 06, 2024

    Senate OKs Bill To Ease SEC Reporting Regs On Rural Telcos

    The Senate has unanimously passed a bipartisan bill to expand access to broadband in rural areas by reducing the "red tape" on smaller broadband providers.

  • December 06, 2024

    AI Hype Won't Wash With Canadian Securities Regulators

    The Canadian Securities Administration is warning market participants against hyping ties to artificial intelligence in order to drum up interest for investments — a practice called "AI washing" — as the agency invites public comment before crafting AI-focused regulations.

  • December 06, 2024

    Nelson Mullins Latest Firm To Add Gov't Investigations Talent

    Nelson Mullins Riley & Scarborough LLP is the latest firm in the nation's capital to add expertise in government and internal investigations, as congressional inquiries and related investigative practices see continued interest following the reelection of former President Donald Trump.

  • December 06, 2024

    4 Big Developments In ERISA Cases From 2nd Half Of 2024

    The Sixth Circuit reopened a retirement plan mismanagement suit against Parker-Hannifin Corp. and revived a manufacturing company worker's disability benefits bid, while the nation's highest court declined to review a plan trustee's unsuccessful attempt to force an employee stock sale dispute into arbitration. Here, Law360 looks at four recent decisions in Employee Retirement Income Security Act cases that benefits attorneys should know.

  • December 06, 2024

    Freshfields Adds 2 Corporate Laterals In Silicon Valley

    Freshfields Bruckhaus Deringer LLP has expanded its offerings in Silicon Valley with the additions of a capital markets attorney from Cooley LLP and an employee benefits and executive compensation attorney from Goodwin Procter LLP.

  • December 05, 2024

    9th Circ. Open To Reviving Snap Stock Suit Over Privacy Tools

    A Ninth Circuit panel appeared open Thursday to reviving a proposed securities class action alleging Snap downplayed the impact Apple's privacy changes would have on ad revenues, causing the stock to eventually plunge, with two judges noting they must infer the allegations in the investors' favor at the pleading stage.

  • December 05, 2024

    Jane Street Ends Trade Secret Fight With Rival Investing Firm

    Jane Street Group LLC and Millennium Management LLC have agreed to put to rest their trade secrets dispute over a proprietary trading strategy, according to a joint stipulation of dismissal filed Thursday in New York federal court.

  • December 05, 2024

    Trump Taps Musk Ally David Sacks As 'AI & Crypto Czar'

    President-elect Donald Trump announced Thursday that he has selected David O. Sacks, a tech investor who worked alongside Elon Musk and entrepreneur Peter Thiel in the early days of PayPal, to be the newly created "White House AI & Crypto Czar."

  • December 05, 2024

    Man Cops To $3.5M 'Cryptojacking' Scam Against Cloud Cos.

    A Nebraska man admitted on Thursday to running a so-called "cryptojacking" scheme to defraud two cloud computing services out of $3.5 million of resources that were used to mine $1 million in cryptocurrency, according to the U.S. Department of Justice.

  • December 05, 2024

    CFTC Flags AI Compliance Obligations In New Advisory

    The Commodity Futures Trading Commission on Thursday issued a staff advisory outlining its registrants' compliance obligations under the Commodity Exchange Act regarding the myriad of ways they may be using artificial intelligence, with the agency's chair painting the guidance as a first step ahead of potential policies.

  • December 05, 2024

    Software Co. Five9 Sued After Surprise Guidance Slash

    Cloud-based customer contact center Five9 Inc. and two of its executives face claims they misrepresented that the company was on track for healthy revenue growth, only to hurt investors by reversing course nine weeks later when they slashed Five9's financial guidance for the year.

  • December 05, 2024

    Investors Sue Pegasystems In Corporate Espionage Case

    Business software developer Pegasystems Inc. has been hit with allegations that it misled an asset management firm by concealing its use of illegal and unethical tactics to misappropriate competitor Appian Corp.'s trade secrets, which led to a since-overturned $2 billion Virginia state court judgment for unjust enrichment. 

  • December 05, 2024

    SolarEdge's CEO, CFO Can't Escape Securities Lawsuit

    A New York federal judge ruled Wednesday that a proposed securities class action accusing SolarEdge Technologies Inc. of misrepresenting the demand for its solar energy products in Europe will go on against two of the company's top executives, saying investors adequately pled the executives knowingly misrepresented distributors' inventory levels.

  • December 05, 2024

    SEC Says Binance's Platform Is 'Integral' To Securities Claims

    The U.S. Securities and Exchange Commission told a Washington, D.C., federal judge that crypto exchange Binance can't escape amended claims that it failed to register with the securities regulator because the platform is "integral" to crypto issuers' alleged promises to increase the value of their tokens.

  • December 05, 2024

    DOL Says Court Erred In Tossing ESOP Claims Against Exec

    A medical equipment industry executive should continue facing claims that he ripped off workers by selling overpriced stock to his company's employee stock ownership plan, the U.S. Department of Labor told an Idaho federal judge Thursday, asking him to rethink letting the executive escape the allegations.

  • December 05, 2024

    Gov't Efficiency Push Is A 'New Day,' House Speaker Says

    House Speaker Mike Johnson, R-La., spoke excitedly Thursday about the new government efficiency operation helmed by billionaire Elon Musk and former presidential candidate Vivek Ramaswamy and touted the budding bipartisan lineup of a congressional caucus that will work with it.

  • December 06, 2024

    FINRA Fines Firm $900K Over SPAC Underwriting Fee Issues

    The Financial Industry Regulatory Authority has fined New York-based LifeSci Capital LLC nearly $1 million over claims that it received and failed to disclose unfair and unreasonable fees for an initial public offering it underwrote.

  • December 05, 2024

    Abbott Accused Of 'Last-Ditch Effort' To Halt Formula Suit

    Investors accusing Abbott Laboratories leaders of concealing known safety issues related to recalled infant formula urged an Illinois federal judge to reject the company's bid to stay the case because it belatedly formed a special litigation committee to investigate the allegations two years into the litigation.

  • December 05, 2024

    Sports Collectibles Exec Gets 51 Months For Investment Fraud

    The owner of a Las Vegas sports memorabilia company was sentenced to four years and three months in prison Wednesday after pleading guilty to lying to investors as part of a fraud scheme that prosecutors said funded a lavish lifestyle.

Expert Analysis

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

    Author Photo

    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

    Author Photo

    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

    Author Photo

    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

    Author Photo

    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

    Author Photo

    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • How Law Firms Can Avoid 'Collaboration Drag'

    Author Photo

    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • 6 Considerations To Determine If A Cyber Incident Is Material

    Author Photo

    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

    Author Photo

    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Carbon Offset Case A Win For CFTC Enviro Fraud Task Force

    Author Photo

    An Illinois federal court's decision in Commodity Futures Trading Commission v. Ikkurty — earning the CFTC a sizeable monetary award that will likely incentivize similar enforcement pursuit — shows the impact of the commission's Environmental Fraud Task Force, say attorneys at Steptoe.

  • RealPage Suit Shows Growing Algorithm, AI Pricing Scrutiny

    Author Photo

    The U.S. Department of Justice's suit against RealPage for helping fix rental rates, filed last week, demonstrates how the use of algorithmic and artificial intelligence tools to assist with pricing decisions is drawing increasing scrutiny and action across government agencies, and specifically at the Federal Trade Commission and the DOJ, say Andre Geverola and Leah Harrell at Arnold & Porter.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

    Author Photo

    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

    Author Photo

    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Foreign Threat Actors Pose Novel Risks To US Tech Cos.

    Author Photo

    A recent bulletin jointly issued by several U.S. intelligence agencies warns technology startups and the venture capital community about national security risks posed by foreign threat actors, so companies interested in raising foreign capital should watch for several red flags, say Robert Friedman and Jacob Marco at Holland & Knight.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

    Author Photo

    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

  • Replacing The Stigma Of Menopause With Law Firm Support

    Author Photo

    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

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!