• October 21, 2016

    Tilton, SEC Prep For Unprecedented Face-Off In $200M Case

    Private equity magnate Lynn Tilton and the U.S. Securities and Exchange Commission will finally face off Monday over claims Tilton and her firm overcharged investors by more than $200 million, and both sides are preparing for a fight befitting what could be the largest case ever heard by an SEC judge as Tilton raises a host of new claims the agency acted improperly.

  • October 21, 2016

    Feds' Cybersecurity Plan Gives Boards, Vendors Bigger Role

    A trio of federal banking regulators recently moved to require that the largest banks and their service providers do more to ensure they can quickly respond to cyberattacks and limit their spread, a shift that would crank up the pressure on boards of directors and third-party vendors to play an active role in dealing with increasingly prevalent cyberthreats.

  • October 21, 2016

    Facebook Calls Class C Stock Suit Doc Bid 'Gamesmanship'

    Facebook Inc. has told the Delaware Chancery Court that shareholders challenging a plan to create a nonvoting class of stock are trying to “invade the attorney-client privilege wholesale” and resorting to “gamesmanship” with their document requests related to the social media giant’s proposed reclassification.

  • October 21, 2016

    Investors Say Calif. Suit Dooms Wells Fargo's Dismissal Bid

    A proposed class of investors suing Wells Fargo over the bank’s alleged mishandling of its residential mortgage-backed securities investments informed a New York federal judge Thursday of a Wednesday order by a California state judge that rejected pleading challenges “identical” to those raised by Wells Fargo in the instant case.

  • October 21, 2016

    SEC Tries Again With New Fraud Complaint Against Texas AG

    The U.S. Securities and Exchange Commission on Friday lodged an amended complaint against Texas Attorney General Ken Paxton over stock sales referrals, signaling the agency’s refusal to drop the case despite a Texas federal judge’s conditional dismissal two weeks ago.

  • October 21, 2016

    TD Ameritrade Ditches Securities Suit At 11th Circ.

    The Eleventh Circuit on Friday nixed a securities suit alleging TD Ameritrade Inc. aided in a Ponzi scheme perpetrated by a convicted fraudster, upholding a lower court’s ruling that TD’s role as the custodian of transactions was not enough to allege it knew of, controlled or materially aided the fraud.

  • October 21, 2016

    $5.2B Talen Energy Buyout Sparks Del. Investor Suit

    Public stockholders of Talen Energy Corp. opened a proposed class challenge Friday to the power producer's $5.2 billion sale to Riverstone Holdings LLC, saying the proposed buyout price is unfair in light of Talen's true value.

  • October 21, 2016

    Homeland Security Issues Immigration Fees Final Rule

    The Department of Homeland Security has issued its final rule regarding potential fee changes for a slew of immigration-related forms, including a proposed 145 percent fee increase for a key form used by EB-5 visa applicants and a new $3,035 fee for regional centers, which pool immigrant investor funds.

  • October 21, 2016

    Mass. Man To Cop To $1B Pyramid Scheme Ahead Of Trial

    One of the co-founders of TelexFree Inc. who allegedly ran a $1 billion pyramid scheme targeting Brazilian and Dominican immigrants, has agreed to plead guilty on the day before jury selection in his trial was set to begin, prosecutors said on Friday.

  • October 21, 2016

    Atty Says SEC Brought Fraud Suit To 'Ruin His Life'

    An attorney facing securities fraud allegations for a waste-to-fuel business, which several professional athletes invested in, told a Georgia federal judge on Thursday that the U.S. Securities and Exchange Commission's lawsuit is the personal vendetta of an SEC team that set out to "ruin his life" because he "annoys the SEC" and beat them once in a high-profile securities case.

  • October 21, 2016

    SunEdison Creditors Sue Lenders, Accuse Company Of Fraud

    SunEdison creditors on Thursday sued the energy giant’s bank lenders and other financiers in New York to recover at least $200 million they allege was used to mask the company’s deteriorating finances and improprieties months before filing for bankruptcy.

  • October 21, 2016

    Chinese Regulator Probes 6 Firms In IPO Fraud Crackdown

    The China Securities Regulatory Commission announced Friday it has opened an investigation into claims of initial public offering fraud by six companies.

  • October 21, 2016

    Vanguard Escapes Investor Suit Over Eagle Rock Deal

    A Texas federal judge on Friday tossed a suit by a proposed class of Eagle Rock Energy Partners LLP shareholders alleging that Vanguard Natural Resources LLC hid a potential debt covenant breach leading up to its $474 million acquisition of Eagle Rock, saying the information was publicly available.

  • October 21, 2016

    Dewey Star Cooperator's Deal Sweetened Before 2nd Trial

    The Manhattan District Attorney’s Office has agreed to allow the star cooperating witness in the Dewey & LeBoeuf LLP criminal trial to drop his guilty plea to grand larceny and cop to a lesser charge ahead of the coming retrial of the firm’s former executive director and chief financial officer.

  • October 21, 2016

    Man Tipped By KPMG Partner Pays $171K To End SEC Claims

    A man who the U.S. Securities and Exchange Commission says profited off three public transactions after a KPMG LLP partner tipped him off has agreed to pay $171,000 to end insider trading claims against him, according to a consent judgment filed Friday in Georgia federal court.

  • October 21, 2016

    Zagg Owes $12M To Shareholders Of Purchased Co., Suit Says

    A representative of the former shareholders of smartphone battery case maker Mophie Inc. filed a proposed class action suit against Zagg Inc. on Friday, saying it hasn’t paid the shareholders $12 million in tax refunds after its $100 million purchase of Mophie earlier this year.

  • October 21, 2016

    Justices Asked To Revisit Basic Evidence, Sentencing Rights

    A former accounting executive is urging the U.S. Supreme Court to review the standard for when defense attorneys can subpoena evidence from third parties along with how courts calculate fraud losses, two questions he said have “recurring and exceptional importance” to white collar practice.

  • October 21, 2016

    Crestview’s $125M Accuride Buy Shorts Investors, Suit Says

    Accuride Corp.’s board undervalued the commercial vehicle parts supply company by taking a $124.5 million buyout offer from private equity firm Crestview Partners without getting other bids, shareholders alleged in Indiana federal court Thursday.

  • October 21, 2016

    M&G To Resume Trading In $5B Brexit-Halted Real Estate Fund

    London-based asset manager M&G Investments said Friday that it will resume trading shares next month in its £4.1 billion ($5 billion) real estate fund after suspending trading in July when a rush of redemption orders accompanied uncertainty surrounding the U.K.'s vote to leave the European Union.

  • October 21, 2016

    Argentina Says Some Claimants Aren't Part Of $90B Debt Deal

    The Republic of Argentina called Thursday for a New York federal court to reject final approval of a class action settlement over the country’s $90 billion debt default, claiming nonclass members are seeking a piece of the deal.

Expert Analysis

  • The Manipulation Standard And A Setback For CFTC

    Paul M. Architzel

    In the U.S. Commodity Futures Trading Commission's ongoing action against DRW Investments, a New York federal judge recently issued an order that provides important protections to market participants and is a blow to the CFTC's effort to lower the standard for proving price manipulation, say attorneys with WilmerHale.

  • When Your Client Is The President


    I went to the law books, where I discovered the crime of “obstruction of justice,” and realized I was right in the middle of a criminal conspiracy. I didn't fully understand my conduct during Watergate until — decades later — I learned about the psychology of cover-up at work, says John Dean, who served as White House counsel for President Richard Nixon.

  • Trial Pros’ Secret To Courtroom Success

     Jamin S. Soderstrom

    Somewhat surprisingly, very few of the dozens of "trial pros" who have been interviewed by Law360 have revealed the secret to effective trial preparation that is vital to their success. But ultimately, the “secret” to effective trial preparation is not actually a secret, says Jamin Soderstrom of Soderstrom Law PC.

  • 100 Days Of Cayman Islands Limited Liability Companies

    Tim Buckley

    Although a new form of entity under Cayman Islands law, the Cayman Islands LLC is familiar in form to U.S. lawyers and industry participants; Cayman Islands LLCs operate in an almost identical way to Delaware LLCs, say Tim Buckley and Andrew Barker of Walkers Global.

  • SEC Is Misguided On Disgorgement From Portfolio Managers

    Paul Monnin

    The U.S. Securities and Exchange Commission has aggressively stepped up its efforts to prosecute insider trading by institutional portfolio managers in the funds that they manage, with an insistence on broad disgorgement and civil penalty calculations. But recent decisions — resting on a strong precedential foundation — call the SEC's strategy into question, say Paul Monnin and Sam Puathasnanon of Paul Hastings LLP.

  • Are Your Witnesses Watered Down?


    Look at any deposition of any witness and within a few moments you will see them reach for the water glass, bottle, carafe or pitcher and quaff with seemingly unquenchable thirst. What could possibly be wrong with that? As a trial consultant for over three decades, I am going to tell you, says Dr. Ross Laguzza of R&D Strategic Solutions LLC.

  • Preparing For Changes To Federal Appellate Rules

    Matthew J. Dowd

    On Dec. 1, 2016, several important amendments to the Federal Rules of Appellate Procedure take effect. The most impactful amendment is the shortening of the permissible length of appellate briefs, which will affect many appeals and will have a particularly significant impact on complex appeals such as patent cases, says Matthew Dowd of Dowd PLLC.

  • SEC Continues To Focus On Non-GAAP Financial Disclosures

    Brian Breheny

    A number of companies have received written comments on their use of non-GAAP financial measures from the staff of the U.S. Securities and Exchange Commission’s Division of Corporation Finance. Attorneys with Skadden Arps Slate Meagher & Flom LLP identified several trends in the comments received to date.

  • New Considerations From COSO For Internal Controls

    20161012 Gerard Pecht.jpg

    Companies and executives should promptly familiarize themselves with the Committee of Sponsoring Organizations of the Treadway Commission's new fraud risk management guide and re-evaluate each of their internal control components. Once the principles become the industry standard, any deficiencies discovered later can create a risk of liability, say attorneys with Norton Rose Fulbright US LLP.

  • Unlikely Success For M&A Post-Closing Disclosure Claims

    Scott B. Luftglass

    The Delaware Chancery Court's recent decision in Nguyen v. Barrett highlights yet again its narrowing of the circumstances under which plaintiffs can successfully challenge merger and acquisition transactions. Further, for the first time, the court has articulated the higher burden to a plaintiff in bringing a disclosure claim in a post-closing damages action, say attorneys at Fried Frank Harris Shriver & Jacobson LLP.