Securities

  • July 23, 2024

    Chancery Ends Challenge To $12.5B Qualtrics' SAP Sale

    Saying it was not reasonably conceivable that he would find software giant SAP and Qualtrics International Inc. directors liable for damages after Qualtrics' $12.5 billion sale to Silver Lake Capital despite a superficially better offer, a Delaware vice chancellor on Tuesday dismissed a stockholder challenge to the deal.

  • July 23, 2024

    Coinbase Renews Plea For Gensler's Private Emails

    Coinbase Inc. asked once again Tuesday to access the private communications of U.S. Securities and Exchange Commission Chair Gary Gensler as it fights allegations that it permitted the illegal trading of unregistered securities on its crypto platform.

  • July 23, 2024

    Judge Doubts CenturyLink Can Block Borrowed Allegations

    A Colorado Court of Appeals panel Tuesday pressed an attorney for CenturyLink on why a shareholder can't use allegations borrowed from other cases in his own securities suit against the telecommunications company, with one judge saying that requiring plaintiff's counsel to speak to every witness would be going overboard.

  • July 23, 2024

    Chancery Spikes Raytheon Stockholder's Derivative Suit

    A shareholder who faulted directors at Raytheon Technologies Corp. for allowing a special committee to change employee compensation plans without first seeking stockholder approval has failed to show how the board of directors did anything wrong, a Delaware vice chancellor ruled Tuesday, dismissing the derivative lawsuit.

  • July 23, 2024

    Labor Dept. ESG Rule May Survive Chevron's Demise

    The Fifth Circuit recently overturned a ruling that relied on the now-defunct doctrine of Chevron deference to uphold a U.S. Department of Labor rule covering socially conscious retirement plan investing, but some experts believe the rule has a good chance at surviving — even with the precedent off the books.

  • July 23, 2024

    Indonesian National Admits To $23M Ponzi Scheme

    An Indonesian national pled guilty in New York federal court on Tuesday to conspiring to defraud a group of investors out of $23 million through a Ponzi scheme, ultimately spending the money on luxury goods and real estate.

  • July 23, 2024

    'Let's Go Brandon' Coin Buyers Seek Class Cert.

    Investors in the meme-inspired cryptocurrency LGBcoin sought class certification in a lawsuit alleging that prices for the token cratered after its much-hyped plan to sponsor the coin's eponymous NASCAR driver fell apart.

  • July 23, 2024

    Ex-Celgene Exec Off The Hook For Statements To Investors

    Celgene Corp.'s former chief operating officer on Tuesday escaped some claims in a class action contending that the biopharmaceutical company artificially inflated its share price, with a New Jersey federal court finding that the ex-executive never made nor could he be linked to the statements that were issued by the company.

  • July 23, 2024

    Chancery Slams 'Squishy' Deal In 'Tagalong' BioMarin Suit

    A visibly irritated Delaware Chancery Court judge on Tuesday rejected a settlement with BioMarin Pharmaceuticals Inc. that would have given shareholder attorneys $1.25 million in exchange for broad releases and "squishy" governance reforms, saying he didn't want to encourage "tagalong litigation" that yielded only "ephemeral" benefits.

  • July 23, 2024

    Funds Say Boeing Can't Ditch 737 Max Securities Suit

    Pension funds leading a proposed securities fraud suit against Boeing have fired back at the airline manufacturer's attempt to dismiss allegations that it misled investors about the safety of its 737 Max jets, saying the suit sufficiently showcases how missteps by Boeing's top brass diminished shareholder value.

  • July 23, 2024

    SEC Names New Acting Head Of Exams

    The U.S. Securities and Exchange Commission has announced that the deputy director of its examinations division will serve as the unit's new acting director, as the previous director takes a leave of absence to focus on his health.

  • July 23, 2024

    Capital One Card Holders Sue To Block Discover Merger

    Capital One credit card holders launched a proposed class action seeking to block the company's $35 billion purchase of Discover Monday, claiming the acquisition will drive down competition and further consolidate the already-concentrated credit card market.

  • July 23, 2024

    India Eyes End Of Digital Tax For E-Commerce, But Not Ads

    Foreign e-commerce companies would be exempted from India's equalization levy, a 2% digital tax, but online advertisers would continue to pay a 6% rate on gross revenues sourced to Indian customers under a budget bill presented Tuesday by the government.

  • July 23, 2024

    Senate Dems Roll Out Bill To Codify Chevron Deference

    Sen. Elizabeth Warren, D-Mass., led a group of Democratic senators Tuesday in introducing a bill to codify the now-defunct doctrine of Chevron deference after it was struck down by the U.S. Supreme Court last month.

  • July 23, 2024

    Chamber Rips Multibillion-Dollar Atty Fee Bid In Musk Pay Suit

    The nation's largest business organization has urged Delaware's Court of Chancery to adopt sweeping curbs to jumbo plaintiff attorney fee awards, declaring a multibillion-dollar fee bid following the cancellation of Tesla CEO Elon Musk's stock-based pay plan "shocks the conscience."

  • July 23, 2024

    Snell & Wilmer Hires Longtime Procopio Group Leader In Calif.

    Snell & Wilmer LLP has hired a more than 20-year veteran of Procopio Cory Hargreaves & Savitch LLP who led his former firm's emerging growth and venture capital practice group in California.

  • July 22, 2024

    Actor, Promoter Cop To Forcount Crypto Ponzi Scheme

    An actor who purported to be the CEO of Forcount Trader Systems Inc. and another promoter of the fake cryptocurrency outfit on Monday both admitted to defrauding investors out of millions of dollars through a Ponzi-esque pyramid scheme.

  • July 22, 2024

    Beauty Co. Misled Investors Ahead Of Its $424M IPO, Suit Says

    Israeli beauty and wellness products company Oddity Tech Ltd. has been hit with a potential class action in New York federal court by an investor who alleges that the company overstated its artificial intelligence technology capabilities before its $424 million initial public offering last year.

  • July 22, 2024

    Investment Adviser Seeks To Ax Union Fund's Bad Advice Suit

    A union pension fund that claims it lost $30 million due to bad investment advice it received in the mid-2010s missed its chance to challenge that advice, an investment advisory firm argued in California federal court, saying the fund blew past its deadline to sue and didn't qualify for an extension.

  • July 22, 2024

    Plantronics Investors Ink $29.5M 'Channel Stuffing' Sales Deal

    Plantronics investors have asked a California federal judge to greenlight a $29.5 million settlement resolving their claims the company used unsustainable "channel stuffing" sales practices to deceptively boost revenues, which led to a drop in stock price when the tactic failed and was revealed to investors.

  • July 22, 2024

    Equifax Bracing For CFPB On Dispute-Handling, Coding Glitch

    Equifax said Monday that the Consumer Financial Protection Bureau plans to pursue fines over the credit reporting giant's handling of consumer disputes and a separate, short-lived "coding issue" that affected some credit score calculations in 2022.

  • July 22, 2024

    Wells Fargo Flouted Director's Dignity, Jury Told In ADA Trial

    Wells Fargo chose to lay off a longtime managing director to avoid dealing with his request to continue working from home to cope with his bladder and colon condition as the bank readied for a return to office after the pandemic, a federal jury in Charlotte heard Monday.

  • July 22, 2024

    Allarity Warns Of SEC Suit Over Cancer Drug Statements

    Clinical stage pharmaceutical company Allarity Therapeutics informed investors Monday that the U.S. Securities and Exchange Commission is preparing to sue following an investigation into statements the company made as it sought approval for a new cancer treatment.

  • July 22, 2024

    Uber, Investors Ink $200M Deal To End 'Train Wreck' IPO Suit

    Uber Technologies Inc. has agreed to pay $200 million to exit a class action accusing it of failing to inform investors about significant business risks tied to stalling growth and potential legal issues ahead of its $8.1 billion initial public offering in 2019.

  • July 22, 2024

    IDT, Founder Say Straight Path Suit Fizzle Warrants No Fee

    Pointing to a Chancery Court finding of no damages after seven years of class litigation over a nearly $1.2 billion alleged liability, attorneys for IDT Corp. founder Howard Jonas on Monday urged a Delaware vice chancellor to reject a class attorney bid for a $9.5 million fee award.

Expert Analysis

  • 5th Circ. Venue-Transfer Cases Highlight Mandamus Limits

    Author Photo

    Three ongoing cases filed within the Fifth Circuit highlight an odd procedural wrinkle that may let district courts defy an appellate writ: orders granting transfer to out-of-circuit districts, but parties opposing intercircuit transfer can work around this hurdle to effective appellate review, says Charles Fowler at McKool Smith.

  • A Healthier Legal Industry Starts With Emotional Intelligence

    Author Photo

    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

    Author Photo

    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Takeaways From SEC's New Data Breach Amendments

    Author Photo

    The U.S. Securities and Exchange Commission's recent amendment of its consumer privacy rules to require investment advisers and broker-dealers to put procedures in place to uncover data breaches and report them to customers evidences that protecting client records and information remains an SEC priority, say attorneys at Simpson Thacher.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

    Author Photo

    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • NY Ruling Paves A Court Payment Shortcut For More Creditors

    Author Photo

    A recent New York state appeals court ruling expands access to an expedited statutory procedure for court enforcement of promissory notes or unconditional guaranties, allowing more creditors to minimize the risk of potentially challenging litigation on threshold issues, says Alexander Levi at Friedman Kaplan.

  • 9th Circ. COVID 'Cure' Case Shows Perks Of Puffery Defense

    Author Photo

    The Ninth Circuit's March decision in a case surrounding a company's statements about a potential COVID-19 cure may encourage defendants to assert puffery defenses in securities fraud cases, particularly in those involving optimistic statements about breakthrough drugs that are still untested, say attorneys at Cahill Gordon.

  • BF Borgers Clients Should Review Compliance, Liability

    Author Photo

    After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.

  • Class Actions At The Circuit Courts: May Lessons

    Author Photo

    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses four notable circuit court decisions on topics from automobile insurance to securities — and provides key takeaways for counsel on issues including circuit-specific ascertainability requirements and how to conduct a Daubert analysis prior to class certification.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

    Author Photo

    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • Opinion

    Del. Needs To Urgently Pass Post-Moelis Corporate Law Bill

    Author Photo

    After the Delaware Chancery Court's decision in West Palm Beach Firefighters' Pension v. Moelis sparked confusion around governance rights, recently proposed amendments to the Delaware General Corporation Law would preserve the state's predictable corporate governance system, says Lawrence Hamermesh at Widener University Delaware Law School.

  • 4 Arbitration Takeaways From High Court Coinbase Ruling

    Author Photo

    The U.S. Supreme Court's May 23 decision in Coinbase v. Suski, which provides clarity to parties faced with successive contracts containing conflicting dispute resolution provisions, has four practical impacts for contracting parties to consider, say Charles Schoenwetter and Eric Olson at Bowman and Brooke.

  • Series

    Playing Music Makes Me A Better Lawyer

    Author Photo

    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

    Author Photo

    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • FEPA Cases Are Natural Fit For DOJ's Fraud Section

    Author Photo

    The U.S. Department of Justice’s recent announcement that its Fraud Section would have exclusive jurisdiction over the Foreign Extortion Prevention Act — a new law that criminalizes “demand side” foreign bribery — makes sense, given its experience navigating the political and diplomatic sensitivities of related statutes, say James Koukios and Rachel Davidson Raycraft at MoFo.

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!