Try our Advanced Search for more refined results
Securities
-
June 20, 2024
Sunnova Execs Committed Insider Trading, Shareholder Says
A shareholder says solar energy company Sunnova Energy International Inc.'s executives lied about the company's predatory sales practices and opened the company up to securities litigation and heat from regulators, telling a Texas federal court Thursday that the executives breached their fiduciary duties.
-
June 20, 2024
Oprah Special Hiked Viacom Price, Archegos Trader Concedes
An attorney for Archegos Capital Management LP founder Bill Hwang attempted Thursday to undercut testimony that the hedge fund boss had total control over his portfolio companies, getting a key cooperator to agree that ViacomCBS Inc.'s share price was at one point boosted by Oprah Winfrey's interview with Prince Harry and Meghan Markle.
-
June 20, 2024
Chancery Preserves Most Of Hertz Shareholder Buyback Suit
Several Hertz directors who authorized $4 billion in stock buybacks in 2022 that vaulted a private equity-based shareholder into a controlling position will have to face claims in Delaware's Court of Chancery that they breached their fiduciary duties to the company.
-
June 20, 2024
Crypto Co. Says SEC Won't Bring Case Over Ethereum
Ethereum-focused software firm Consensys won't face an action over its dealings with the cryptocurrency ether, according to a notice from the U.S. Securities and Exchange Commission, but its preemptive lawsuit against the regulator is set to continue as the agency doesn't appear to have dropped concerns over Consensys products that deal in other assets.
-
June 20, 2024
SEC Says Supposed Mining Co. Lacked Any Mining Claims
The U.S. Securities and Exchange Commission has filed a suit in Colorado federal court against a purported natural resource development and mining company and its executives, accusing them of lying about acquiring mining rights in an attempt to sell its shares.
-
June 20, 2024
PPG Sues Westlake In Delaware Over $707M Brazil Liability
Pittsburgh global paint supplier PPG Industries Inc. has sued chemical supplier Westlake Corp. in Delaware's Court of Chancery, accusing Westlake of breaching a 2012 agreement to accept liabilities related to a cargo ship fire that happened off the coast of Brazil in 1998.
-
June 20, 2024
Dickinson Wright Brings On McDermott, Bell Nunnally Attys
Dickinson Wright PLLC added a pair of new members who include a commercial finance and real estate attorney from Bell Nunnally & Martin LLP based in Austin, Texas, and a tax and incentives attorney from McDermott Will & Emery LLP in Fort Lauderdale, Florida.
-
June 18, 2024
Qualcomm Investors Ink $75M Deal Over Licensing Practices
Qualcomm Inc. investors asked a California federal judge to greenlight a $75 million settlement that would resolve their claims that the chipmaker misled the market by stating it kept its licensing and chip-supply businesses separate when it regularly bundled the two in negotiations and agreements.
-
June 18, 2024
RR Donnelley Pays $2.1M To Settle SEC Claims Over Hack
Marketing and communications giant R.R. Donnelley & Sons has reached a deal with the U.S. Securities & Exchange Commission to pay over $2.1 million to settle claims over a 2021 cybersecurity incident that stemmed from poor internal controls and disclosure failures, the agency announced Tuesday.
-
June 18, 2024
9 Firms Vie To Lead Suit Over Ad Tech Co.'s Microsoft Ties
Pomerantz LLP, Levi & Korsinsky LLP and several other firms have filed competing bids to lead a proposed shareholder class action alleging that shares of ad tech company Perion Network declined nearly 40% after its strategic partner Microsoft Bing "unilaterally" changed its search advertising pricing.
-
June 18, 2024
SEC's Ether Orders Spur Hope For Crypto, Caution From Attys
The crypto industry received a step toward clarity when the U.S. Securities and Exchange Commission's approval of exchange-traded products holding the token ether signified the cryptocurrency isn't a security subject to SEC regulation, but attorneys say they remain cautious when counseling clients on how to deal in the asset.
-
June 18, 2024
Del. House Panel Splits On Senate-Passed Corp. Law Change
A divided Delaware House committee released on Tuesday contested amendments to the state's general corporation law, sending the measure toward a full House vote after sometimes edgy testimony that included a committee chair's shutdown of an opposing law professor's reference to HBO's seamy corporate drama series "Succession."
-
June 18, 2024
CFTC Awards $8M To Whistleblower Behind Multiple Actions
The Commodity Futures Trading Commission has announced it awarded more than $8 million to an insider whistleblower who the agency said provided significant information that led to multiple enforcement actions from multiple agencies.
-
June 18, 2024
Crypto Firm Latinum Can't Arbitrate Investors' Fraud Suit
A Michigan federal judge discerned that crypto firm Bitcoin Latinum can't send claims it duped investors out of promised digital assets to arbitration considering it didn't raise the issue in the two years since the suit was brought.
-
June 18, 2024
Fed Should Vote Now On Basel Capital Hike Plan, Warren Says
U.S. Sen. Elizabeth Warren has accused Federal Reserve Chair Jerome Powell of "doing the bank industry's bidding" as federal regulators look to back off of significant proposed increases to big-bank capital requirements, saying he should instead put those increases to a board vote by the end of June.
-
June 18, 2024
Sterling Bank Ex-CEO Won't Face Charges Over Loan Program
The founder and former CEO of Sterling Bank and Trust, who has been investigated in connection with a fraud-plagued loan program, will not face criminal charges from the U.S. Department of Justice, according to Michigan federal court documents filed Monday.
-
June 18, 2024
Archegos Trader Doubles Down On Hwang Accusations
A former protégé of Archegos founder Bill Hwang told New York federal jurors Tuesday that the hedge fund boss directed manipulative and improper trading, pushing back on insinuations by Hwang's counsel that the trades were above-board.
-
June 18, 2024
Social Media Stock Promoter Beats Trader's Suit For Good
A Texas federal judge has tossed a suit from a stock trader alleging a social media stock promoter artificially drove up share prices, saying the promoter did not have any duty to disclose to the trader his plans to sell the shares.
-
June 18, 2024
MoFo Brings On SEC Veteran From Skadden In DC
Morrison Foerster LLP has expanded its public company advisory and governance offerings in Washington, D.C., with the addition of an attorney from Skadden Arps Slate Meagher & Flom LLP.
-
June 18, 2024
Musk Pay Claims Still Alive After Texas Vote, Chancery Told
Attorneys for Tesla stockholders who won a Court of Chancery order voiding CEO Elon Musk's mammoth stock-based compensation plan in January are rejecting as having no legal effect a vote last week to ratify the same 10-year package, once valued at $56 billion.
-
June 18, 2024
Cooley Adds Ex-Kirkland Global Fund Formation Atty In NY
Cooley LLP has expanded its fund formation practice with the addition of an experienced fund formation attorney who previously worked at Kirkland & Ellis LLP and founded a venture advisory group for asset managers.
-
June 18, 2024
Foley Hoag Hires Former DOJ Fraud Section Deputy
Foley Hoag LLP has hired a former deputy chief of the U.S. Department of Justice's Fraud Section, who will work with the firm's white collar crime and government investigations practice in Washington, D.C.
-
June 17, 2024
PennyMac 'Shocked' Investors With Post-Libor Fix, Suit Says
PennyMac's mortgage investment arm has been hit in California federal court with a proposed class action accusing it of using last year's discontinuation of Libor to unfairly and unlawfully lock in a lower dividend for some of its preferred stock, stiffing investors out of millions.
-
June 17, 2024
Investor Seeks Del. Anti-Suit Shield, Alleging Brazil Co. Threat
A Mexico City resident who invested in a Delaware limited partnership group that builds telecommunication towers in Brazil on Monday petitioned Delaware's Court of Chancery for an anti-suit injunction, citing a defamation lawsuit threat made after he inquired about going concern risk reports.
-
June 17, 2024
Ex-CNBC Pundit Caught After Years Of Dodging Fraud Claims
A former frequent CNBC guest who became a fugitive for nearly three years after being accused of defrauding investors has been arrested and faces a seven-count indictment, California federal prosecutors said Monday.
Expert Analysis
-
New Crypto Reporting Will Require Rigorous Recordkeeping
The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.
-
What Transactional Attys Must Know About Texas Biz Courts
As Texas prepares to launch its new business courts, transactional attorneys — especially those involved in commercial, securities and internal governance matters — should keep several issues in mind when considering use of the state's business court system to facilitate deals and settle disputes, say attorneys at Katten.
-
Crypto Mixer Laundering Case Provides Evidentiary Road Map
A Washington, D.C., federal court’s recent decision to allow expert testimony on blockchain analysis software in a bitcoin mixer money laundering case — which ultimately ended in conviction — establishes a precedent for the admissibility of similar software-derived evidence, say Peter Hardy and Kelly Lenahan-Pfahlert at Ballard Spahr.
-
Series
Being An EMT Makes Me A Better Lawyer
While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.
-
5 Lessons From Ex-Vitol Trader's FCPA Conviction
The recent Foreign Corrupt Practices Act and money laundering conviction of former Vitol oil trader Javier Aguilar in a New York federal court provides defense takeaways on issues ranging from the definition of “domestic concern” to jury instruction strategy, says attorney Andrew Feldman.
-
SEC Amendments May Launch New Execution Disclosure Era
The U.S. Securities and Exchange Commission's recently adopted amendments to Rule 605 of Regulation NMS for executions on covered orders in national market system stocks modernize and enhance execution quality reporting, but serious guidance is still needed to make the reports useful for the public investor, say attorneys at Sidley.
-
Mitigating Incarceration's Impacts On Foreign Nationals
Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.
-
Lessons On Challenging Class Plaintiffs' Expert Testimony
In class actions seeking damages, plaintiffs are increasingly using expert opinions to establish predominance, but several recent rulings from California federal courts shed light on how defendants can respond, say Jennifer Romano and Raija Horstman at Crowell & Moring.
-
Exploring An Alternative Model Of Litigation Finance
A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.
-
Del. Dispatch: Chancery's Evolving Approach To Caremark
Though Caremark claims are historically the least likely corporate claims to lead to liability, such cases have been met in recent years with increased judicial receptivity — but the Delaware Court of Chancery still expressly discourages the reflexive filing of Caremark claims following corporate mishaps, say attorneys at Fried Frank.
-
A GC's Guide To Multijurisdictional Regulatory Compliance
Overlapping cybersecurity regulation has created an increasingly fragmented regulatory landscape with elevated oversight for organizations across the globe, but general counsel can help develop a best-in-class approach to manage these complexities by building a compliance strategy holistically, say David Dunn and Meredith Griffanti at FTI Consulting.
-
Global Bribery Probes Are Complicating FCPA Compliance
The recent rise in collaboration between the U.S. Department of Justice and foreign authorities in bribery enforcement can not only affect companies' legal exposure as resolution approaches vary by country, but also the decision of when and whether to disclose Foreign Corrupt Practices Act violations to the DOJ, say Samantha Badlam and Catherine Conroy at Ropes & Gray.
-
Series
Teaching Yoga Makes Me A Better Lawyer
Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.
-
Clarity Is Central Theme In FCA's Greenwashing Guidance
Recent Financial Conduct Authority guidance for complying with the U.K. regulator's anti-greenwashing rule sends an overarching message that sustainability claims must be clear, accurate and capable of being substantiated, say lawyers at Cadwalader.
-
A Vision For Economic Clerkships In The Legal System
As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.