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Securities

  • March 06, 2025

    NY Court Rejects Leon Black's Malicious Prosecution Suit

    A New York appeals court on Thursday rejected a malicious prosecution suit brought by former Apollo Global Management CEO Leon Black against Wigdor LLP, which represented a woman in a failed lawsuit accusing him of sexual assault.

  • March 06, 2025

    Senate Panel Backs McKernan For CFPB, 3 Other Trump Picks

    A U.S. Senate panel on Thursday advanced President Donald Trump's nomination of Jonathan McKernan to head the Consumer Financial Protection Bureau, setting him up for likely confirmation to the beleaguered agency.

  • March 05, 2025

    Wyo. Firm's 'Classic' Ponzi Scheme Made $92M, Investors Say

    A group of would-be investors has filed suit against a purported investment management company and associated entities and individuals, alleging they were taken in by a "classic Ponzi scheme" that raked in at least $92 million from its victims.

  • March 05, 2025

    Coinbase Investor Drops Direct Listing Suit After Slack Ruling

    A Coinbase investor Wednesday dropped a proposed class action accusing the cryptocurrency platform and its top brass of offering false and misleading materials that caused its stock price to plummet following the company's debut with an $86 billion valuation, after the Ninth Circuit tossed a similar case against Slack Technologies.

  • March 05, 2025

    NJ US Atty Says FCPA Case Delay Pauses Speedy Trial Clock

    The adjournment of the government's Foreign Corrupt Practices Act case against two former Cognizant Technology Solutions Corp. executives should stop the Speedy Trial Act clock because the case needs a "fulsome review" in light of the pause in FCPA enforcement, New Jersey's freshly minted top federal prosecutor told a judge Wednesday.

  • March 05, 2025

    Chancery Mulls Amicus Bid, TRO In Paramount Merger Battle

    Backers of a $13.5 billion offer for Paramount Global asked Wednesday for clearance to chime in on a Delaware Chancery Court stockholder challenge to the company's proposed $8 billion, allegedly conflicted sale to Skydance Media, arguing that a board special committee never gave the higher bid proper consideration.

  • March 05, 2025

    US Looks For Pause In PetroSaudi $380M Seizure Suit

    The United States has asked a California federal court to stay its suit to seize part of a $380 million arbitral award issued to a PetroSaudi unit, saying the civil case is up in the air because the oil producer's sole owner was convicted in August in Swiss criminal court.

  • March 05, 2025

    FINRA Fines NJ Firm, Suspends AML Compliance Officer

    The Financial Industry Regulatory Authority has fined Network 1 Securities and suspended its anti-money laundering compliance officer over their alleged failure to design a reasonable compliance program to prevent money laundering.

  • March 05, 2025

    Feds Allege Vast Overseas Insider Trading Scheme

    Two foreigners are facing criminal charges and civil securities fraud claims for allegedly masterminding a multinational, yearslong insider trading scheme that generated millions of dollars in illicit profits by trading on leaked information ahead of business developments. 

  • March 05, 2025

    SEC Defends 'Follow-On' Action From Post-Jarkesy Challenge

    The U.S. Securities and Exchange Commission is defending its ability to pursue industry bars in its administrative court, telling a Washington, D.C., federal judge that a recent U.S. Supreme Court decision limiting the use of in-house courts does not prevent the agency from booting a father and son duo from the investment advisory industry.

  • March 05, 2025

    SEC Asks To Toss Subpoena Suit Against Telehealth Co.

    The U.S. Securities and Exchange Commission asked a New York federal judge Wednesday to dismiss its suit aimed at forcing a weight-loss-focused telehealth company to comply with a subpoena, saying the company has since provided the requested documents and otherwise complied with the subpoena.

  • March 05, 2025

    DOJ's Absence Felt At ABA Conference On White Collar Crime

    Officials from the U.S. Department of Justice were conspicuously absent Wednesday from the American Bar Association's annual white collar crime conference, leaving organizers scrambling to fill empty panel seats and practitioners guessing as to what the Trump administration's enforcement priorities will be.

  • March 05, 2025

    Biotech Co. Maravai Hit With Investor's Internal Controls Suit

    Health research tools company Maravai LifeSciences Holdings Inc. has been hit with a proposed shareholder class action alleging it failed to report that it had issues with its internal reporting controls ahead of its announcement that an inaccurate report led to the misallocation of $3.9 million.

  • March 05, 2025

    Del. Corporate Law Bill Poses 'Grave Risk,' Plaintiffs' Firms Say

    Five of Delaware's most active corporate litigation plaintiffs' firms have branded pending legislation aimed at curbing stockholder suits as a "dangerous and radical" measure that attacks the state's courts and will put Delaware's nationally known incorporation franchise "at grave risk."

  • March 04, 2025

    Avalara Investor Asks 9th Circ. To Revive $8B PE Buyout Suit

    An Avalara shareholder urged the Ninth Circuit on Tuesday to revive a proposed securities class action alleging the tax software company duped investors into approving a "deficient" $8.4 billion private equity buyout, arguing the trial court erred in finding Avalara's statements tied to "numerically specific metrics" weren't false or misleading.

  • March 04, 2025

    Chinese Theme Park Co. Can't Nix Investors' 'Hellscapes' Suit

    A California federal judge will allow investors' securities fraud claims against a Chinese amusement park operator to proceed, finding they plausibly claimed that the company inflated visitor numbers and financials for its park, causing an 89% stock price decline when the truth was eventually revealed.

  • March 04, 2025

    Agencies Have 'Ultimate' Authority Over Firings, OPM Says

    The Office of Personnel Management on Tuesday issued a revised version of its January memo directing agency heads to identify all probationary employees, adding a disclaimer that OPM "is not directing agencies to take any specific performance-based actions" and that agencies "have ultimate decision-making authority."

  • March 04, 2025

    Semiconductor Co. Faces Suit Over Apple Biz Loss, AI Hype

    Semiconductor maker Skyworks Solutions Inc. was hit Tuesday with a proposed investor class action alleging it hurt investors by downplaying the risks posed by the loss of business from iPhone maker Apple, a major customer, and overplaying the strength of artificial intelligence to its business.

  • March 04, 2025

    Blockchain Org. Wins $3.5M Fees From Trader's Seized Assets

    Crypto project the ICON Foundation is set to receive $3.5 million in attorney fees and costs after it successfully turned the tables on a user who sued the project after it took action to freeze millions of tokens he created by exploiting a bug in the project's software.

  • March 04, 2025

    EV Co. Lucid's Brass Face Investor's Production Capacity Suit

    Executives and directors of electric vehicle manufacturer Lucid Group Inc. have been hit with a proposed shareholder derivative suit in Delaware federal court alleging they concealed the extent of production issues plaguing the company in order to inflate share prices.

  • March 04, 2025

    Intel Beats Investor Suit Over 'Foundry' Losses, For Now

    Intel Corp. has beaten a proposed securities class action accusing it of misleading investors about the financial health of its so-called foundry segment, with the court finding Intel made all required disclosures regarding the segment's performance.

  • March 04, 2025

    NJ Judge Nixes Derivative Suit Over $38M Tech Co. Spinoff

    Top brass of a material-handling-equipment maker and the company's controlling shareholder no longer face a shareholder derivative action alleging that they breached their fiduciary duties with a plan to spin off assets to benefit the company's board chair.

  • March 04, 2025

    Bored Ape NFT Maker, Crypto Co. Say SEC Threats Are Over

    The crypto arm of trading firm DRW Holdings LLC and the company behind the celebrity-endorsed non-fungible token project known as the Bored Ape Yacht Club say that they are the latest in a string of digital asset firms to see the back of the U.S. Securities and Exchange Commission.

  • March 04, 2025

    PBMs Ask 8th Circ. To Pause FTC's Insulin Pricing Case

    Caremark Rx, Express Scripts and OptumRx have asked the Eighth Circuit to pause the Federal Trade Commission's in-house case accusing the pharmacy benefit managers of artificially inflating insulin prices as they push their constitutional claims against the agency.

  • March 04, 2025

    Chancery Finds Recent Precedent Backs Tesla's Texas Jump

    Elon Musk and Tesla on Monday beat a challenge in Delaware's Court of Chancery to the company's charter move to Texas, with fewer than two-thirds of shareholders approving, as the court invoked an opinion issued in November when a vice chancellor opened the door to The Trade Desk's exit to Nevada.

Expert Analysis

  • 5 Ways To Create Effective Mock Assignments For Associates

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    In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.

  • More Environmental Claims, More Greenwashing Challenges

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    As companies prepare for the 2025 greenwashing landscape, they should take heed of a D.C. appellate decision that shows that environmental claims are increasingly subject to attack and provides plaintiffs with a playbook for challenging corporate claims of sustainability, say attorneys at Sidley.

  • And Now A Word From The Panel: How MDLs Fared In 2024

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    A significant highlight of the Judicial Panel on Multidistrict Litigation's practice during 2024 was the increase in the percentage of new MDL petitions granted by the panel, with 25 granted and only eight denied — one of the highest grant rates in years, says Alan Rothman at Sidley.

  • Assessing Gary Gensler's Legacy At The SEC

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    Gary Gensler's tenure as U.S. Securities and Exchange Commission chair is defined by a record of commonsense regulation in some areas and social activism in others, and by increasing judicial skepticism about the SEC's authority to fulfill its regulatory, enforcement, administrative law and adjudicatory functions, say attorneys at Arnold & Porter.

  • Calif. Cannabis Decision Deepens Commerce Clause Divide

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    In Peridot Tree v. Sacramento, the Eastern District of California joined a growing minority of courts that have found the dormant commerce clause inapplicable to state-regulated marijuana, and the Ninth Circuit will soon provide important guidance on this issue, say attorneys at Perkins Coie.

  • Takeaways From DOJ Fraud Section's 2024 Year In Review

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    Attorneys at Paul Weiss highlight notable developments in the U.S. Department of Justice Fraud Section’s recently released annual report, and discuss what the second Trump administration could mean for enforcement in the year to come.

  • Recent SEC Actions Highlight Importance Of Filing Form D

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    The U.S. Securities and Exchange Commission's enforcement action against three companies last month for failing to timely file Form D is an unprecedented step that should put an end to Regulation D issuers' views that filing these forms is a technical requirement or somewhat voluntary, says Patrick McCloskey at McCloskey Law.

  • The 7th Circ.'s Top 10 Civil Opinions Of 2024

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    Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2024, and explain how they may affect issues related to mass arbitration, consumer fraud, class certification and more.

  • Kansas Bank's Suit Could Upend FDIC Enforcement Authority

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    ​​​​​​​Should CBW Bank's federal lawsuit in Kansas challenging the Federal Deposit Insurance Corp.'s enforcement authority gain traction with a post-Chevron U.S. Supreme Court, it could have profound implications for the FDIC and the banking industry at large, says Jack Harrington at Bradley Arant.

  • End-Of-Year FCPA Enforcement Surge Holds Clues For 2025

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    The last three months of 2024 saw more Foreign Corrupt Practices Act enforcement actions than any quarter in the previous four years, providing lessons for companies — even as a new administration raises doubts about whether this momentum will continue, say attorneys at Norton Rose.

  • What's Next For Accounting Enforcement After SEC's Big 2024

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    The U.S. Securities and Exchange Commission under the Trump administration will likely continue to focus enforcement efforts on many of the same accounting and auditing issues that it pursued over the past year — but other areas, such as ESG, internal controls and cryptocurrency cases, may fall out of focus, say attorneys at Debevoise.

  • Mentorship Resolutions For The New Year

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    Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.

  • Insights For Finance Firms, Regulators From House AI Report

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    Though a U.S. House of Representatives report encourages the financial sector to embrace artificial intelligence tools, its focus on ensuring high-quality datasets, transparent development and equitable access underscores that firms and regulators must strike a delicate balance between technological innovation and responsible implementation, says Brendan Palfreyman at Harris Beach.

  • UPS Penalty Demonstrates Goodwill Impairment Red Flags

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    The U.S. Securities and Exchange Commission's recent $45 million penalty against UPS for withholding reports of goodwill impairment should warn investors to watch for the telltale signs of companies inflating their worth by delaying tests that would reveal similar declines in the value of intangible assets, say attorneys at Labaton Keller.

  • Series

    Coaching Little League Makes Me A Better Lawyer

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    While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.

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