Try our Advanced Search for more refined results
Securities
-
January 23, 2025
Feds Want 14 Years For Fraudster Who Scammed NBA Pros
Prosecutors asked a Manhattan federal judge to sentence a recidivist fraudster who was convicted of swindling two former NBA players out of $8 million to up to 14 years in prison, saying his previous sentences had not deterred him and he'd committed repeated bail violations.
-
January 22, 2025
Crocs Investor Sues Over Dismal Heydude Footware Biz
Crocs Inc. and its top brass were hit Wednesday with a proposed class action in Delaware federal court over disappointing returns from its Heydude subsidiary, which investors allege dragged down the rubber-clog maker's earnings.
-
January 22, 2025
Securities Class Actions To Watch In 2025
A showdown in the Ninth Circuit over a recent U.S. Supreme Court decision, an expected Sixth Circuit ruling on a bribery scandal and the possible consolidation of lawsuits targeting broker's cash sweeps programs are among the many legal disputes that securities attorneys are keeping a close eye on in 2025.
-
January 22, 2025
Software Co. UiPath Wants Investors' Fraud Claims Nixed
Automation software firm UiPath Inc. has urged a New York federal judge to toss a consolidated action from investors accusing it of falsely promoting the success of a new development strategy, saying they haven't shown their losses stem from any misleading statements or misreporting from the firm.
-
January 22, 2025
Del. Justices Probe $10.4B Anaplan-Thoma Bravo Deal
The Delaware Supreme Court on Wednesday repeatedly asked attorneys what Anaplan Inc.'s officers needed to tell shareholders before they voted on the company's $10.4 billion sale to private equity firm Thoma Bravo, probing what sorts of disclosures would be required under the First State's so-called Corwin doctrine.
-
January 22, 2025
Boeing Rips Investors' Class Cert Bid In 737 Max Blowout Suit
Boeing told a Virginia federal judge that pension funds cannot reverse-engineer sweeping securities fraud claims based on last year's Alaska Airlines midair blowout incident, saying their bid to certify a class of investors who were purportedly misled by Boeing's assurances of the 737 Max jets' safety must be rejected.
-
January 22, 2025
Securities Defense Bar Notched More Dismissals In '24
Courts threw out more securities class actions last year than they had in years before, reversing a six-year downturn in the number of shareholder suits resolved through settlement or dismissal, according to a Wednesday report by National Economic Research Associates Inc.
-
January 22, 2025
Waste Co. Says Ex-Director Used Secret Info For Sabotage
Commercial waste management company RTS has accused a former board director in Delaware Chancery Court of misusing its confidential information and deliberately sabotaging the business to try to force a cheap sale to the ex-director's private equity firm.
-
January 22, 2025
Investor Alleges Utility Put Profits Above Storm Preparation
CenterPoint Energy Inc.'s board of directors was hit with a lawsuit Wednesday from a shareholder who alleges the company's handling of Hurricane Beryl revealed it engaged in "financial engineering" designed to boost profits over operational efficiency.
-
January 22, 2025
Pharma Co. Says Ex-CEO's Alleged Misconduct Is Not Fraud
Artificial intelligence-driven pharmaceutical company Exscientia PLC has asked a New Jersey federal court to toss a suit alleging it is responsible for share price declines following the termination of its CEO after claims emerged he participated in inappropriate relationships with employees, arguing the alleged misconduct is not securities fraud.
-
January 22, 2025
Exxon Says Investors Shared Confidential Info With Ex-Worker
Exxon Mobil Corp. has urged a Texas federal judge to reject investors' broad reading of what confidential information they're allowed to share and with whom in litigation accusing the oil giant of overvaluing its Permian Basin holdings by billions of dollars.
-
January 22, 2025
Connell Foley Fights DQ Bid In Investment Firm's Bias Suit
A group of current and former New Jersey state officials blasted a motion to disqualify their counsel at Connell Foley LLP in a discrimination suit from a Black-owned investment firm in New Jersey federal court, calling the move a frivolous and bad faith stalling tactic.
-
January 22, 2025
White House Shutters DEI Offices, Puts Workers On Leave
The U.S. Office of Personnel Management told federal agencies to close offices focused on diversity, equity and inclusion initiatives by Wednesday evening and lay off staffers by Jan. 31, part of President Donald Trump's larger efforts to combat workplace diversity programs.
-
January 21, 2025
Ex-Meta COO Sanctioned For Deleting Cambridge Emails
A Delaware Court of Chancery judge on Tuesday sanctioned Meta Platforms Inc.'s former Chief Operating Officer Sheryl Sandberg in consolidated litigation over the Facebook Cambridge Analytica data scandal, finding that she likely selectively deleted emails that related to the litigation.
-
January 21, 2025
10th Circ. Looks For Limits In Custodia's Master Account Suit
The Federal Reserve Bank of Kansas City on Tuesday told a Tenth Circuit panel that the crypto-focused Custodia Bank is not entitled to a so-called master account that it has sued the Federal Reserve to get, while acknowledging that the Fed's own discretion to deny such an account has its limits.
-
January 21, 2025
SEC Says 'Hotspot' Crypto Miners Broke Registration Laws
Technology company Nova Labs Inc. faces U.S. Securities and Exchange Commission allegations that it attempted an "end-run" around federal securities laws with its unregistered sale of investment contracts in the form of its "hotspot" crypto asset mining devices.
-
January 21, 2025
Del. Justices Seal Oracle's Win In $9.3B NetSuite Merger Suit
The Delaware Supreme Court on Tuesday affirmed the Chancery Court's toss last year of a challenge to Oracle Corp.'s $9.3 billion acquisition of NetSuite Corp. in 2016, saying the Chancery did not err in finding that the transaction was untainted from influence by Oracle's management or its founder and top shareholder.
-
January 21, 2025
SEC Sues Ex-Investment Firm Reps, GC Over 'Sham' Energy Co.
The U.S. Securities and Exchange Commission has accused former representatives of a wealth management firm of selling shares of a "sham" oil and gas company, and separately accused the firm's general counsel and chief compliance officer of playing an "active role" in the alleged misconduct by drawing up liability releases for the firm.
-
January 21, 2025
SEC Says Engineering Prof To Pay $785K For Insider Trading
The U.S. Securities and Exchange Commission on Tuesday told a California federal court that an electrical engineering professor has agreed to pay about $785,000 to settle a lawsuit accusing him of improperly trading shares of a radio technology company at which he previously served as an advisory committee member.
-
January 21, 2025
Coinbase Asks 2nd Circ. To Settle Crypto Securities Question
Coinbase has urged the Second Circuit to settle how securities laws apply to its crypto transactions, saying "there is no more pressing issue in securities law today" than determining the U.S. Securities and Exchange Commission's ability to regulate digital assets.
-
January 21, 2025
Block Hit With Shareholder Suit Over Cash App AML Protocols
Jack Dorsey's fintech company Block Inc. touted its anti-money laundering protocols designed to prevent criminals from using Cash App and Square for illicit purposes, but in reality, the company's lack of even basic protocols created a "haven for criminal and illicit activities," a California federal lawsuit alleges.
-
January 21, 2025
Asset Type Immaterial To Crypto Fraud Claims, SEC Says
The U.S. Securities and Exchange Commission has argued that digital assets referenced in its fraud case in Texas against the principals of a purported cryptocurrency mining operation are "immaterial to the economic reality" of the allegedly fraudulent securities transactions at the heart of its action.
-
January 21, 2025
KeyBank Fights Adviser's $1.1M Defamation Win In 2nd Circ.
KeyBank's investment unit urged the Second Circuit on Tuesday to overturn parts of a $1.1 million defamation award to a former adviser, claiming that FINRA arbiters wrongly added attorney fees and a regulatory notice violation to the ex-employee's win.
-
January 21, 2025
Trump Names Interim Top Prosecutors In Manhattan, Brooklyn
President Donald Trump named two high-ranking prosecutors to be interim U.S. attorneys in the Southern and Eastern districts of New York while his long-term picks for the posts await Senate confirmation, spokespeople for the offices confirmed Tuesday.
-
January 21, 2025
Crypto Firm To Plead Guilty In Market Manipulation Case
A financial services firm based in the United Arab Emirates has agreed to plead guilty to a fraudulent "wash trading" scheme and will stop working in the U.S. cryptocurrency industry as part of a deal announced Tuesday by Boston federal prosecutors.
Expert Analysis
-
Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
-
Crypto.com's Suit Against SEC Could Hold Major Implications
Crypto.com's recent lawsuit against the U.S. Securities and Exchange Commission could affect the operation and regulation of crypto markets in the U.S., potentially raising more questions about the SEC's authority to regulate the industry when it's unclear whether another agency is ready to assume it, say attorneys at McGuireWoods.
-
Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
-
The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
-
Don't Phone A Friend: Disclosing Friendships With Executives
The U.S. Securities and Exchange Commission's recent settlement against a former Church & Dwight chairman for violating proxy disclosure rules by neglecting to disclose his friendship with an executive officer amid a CEO search illustrates the perils of relying solely on responses to questionnaires circulated to boards, say attorneys at BCLP.
-
Why Diversity Jurisdiction Poses Investment Fund Hurdles
Federal courts' continued application of the exacting rules of diversity jurisdiction presents particular challenges for investment funds, and in the absence of any near-term reform, those who manage such funds should take action to avoid diversity jurisdiction pitfalls, say attorneys at Sher Tremonte.
-
The Ups And Downs Of SEC's Now-Dissolved ESG Task Force
The U.S. Securities and Exchange Commission's Climate and ESG Enforcement Task Force, which was quietly disbanded sometime over the summer, was marked by three years of resistance from some stakeholders to ESG regulation, a mixed record in the courts and several successful enforcement actions, say attorneys at Crowell & Moring.
-
Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
-
Opinion
It's Time To Sound The Alarm About Lost Labor Rights
In the Fifth Circuit, recent rulings from judges appointed by former President Donald Trump have dismantled workers’ core labor rights, a troubling trend that we cannot risk extending under another Trump administration, say Sharon Block and Raj Nayak at the Center for Labor and a Just Economy.
-
SEC Fine Shows Risks Of Nonpublic Info In X, LinkedIn Posts
The U.S. Securities and Exchange Commission recently announced a settlement with DraftKings over charges arising from posting material nonpublic information on the CEO's social media accounts, highlighting that information posted to company websites and social media sites does not automatically qualify as "publicly disclosed" for purposes of Regulation FD, say attorneys at O'Melveny.
-
Anticipating Jarkesy's Effect On Bank Agency Enforcement
Following the U.S. Supreme Court’s decision in U.S. Securities and Exchange Commission v. Jarkesy, federal courts may eventually issue decisions on banking law principles and processes that could fundamentally alter the agencies' enforcement action framework, and the relationship between banks and examiners, says Brendan Clegg at Luse Gorman.
-
CFTC Anti-Fraud Blitz Is A Warning To Carbon Credit Sellers
With its recent enforcement actions against a carbon offset project developer and its senior executives for reporting false information about the energy savings of the company's projects, the Commodity Futures Trading Commission is staking out its position as a primary regulator in the voluntary carbon credit market, say attorneys at Morgan Lewis.
-
Unpacking State AG Approaches To Digital Asset Enforcement
Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.
-
3 Takeaways From Navy Shipbuilder's Fraud Guilty Plea
Austal USA’s recent plea agreement over accounting fraud charges highlights for other companies the benefits of cooperating with government investigations, the challenges posed by senior executives’ involvement in misconduct, and the high stakes for defense contractors, say Michael DeBernardis and Shayda Vance at Hughes Hubbard.
-
Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.