• December 1, 2015

    Revolving-Door Roundup: Faegre, O'Melveny, Armstrong

    U.S. attorneys took center stage in this month's roundup of lawyers moving between the public and private sectors: Two of the nation's 94 top federal prosecutors returned to private practice, finding new homes at Faegre Baker and Armstrong Teasdale.

  • December 1, 2015

    Settlement Reached In Slashed Navistar Investors' Suit

    A settlement in principle has been reached in a pared-down securities class action brought by pension-fund participants over statements from truck giant Navistar International Corp. about the company's progress developing a reduced-emissions engine, according to court documents.

  • December 1, 2015

    Texas AG, Prosecutors Face Off On Felony Charges

    A Texas state judge on Tuesday heard five hours of argument in Texas Attorney General Ken Paxton’s bid to bring an early end to felony securities fraud charges against him, but won't rule until after Paxton responds to a motion by prosecutors to amend the indictments.

  • December 1, 2015

    SEC Accuses Virtual Currency Miner Of $19M Investment Fraud

    The U.S. Securities and Exchange Commission hit a Vermont man and his two companies Tuesday in Connecticut federal court with allegations that he defrauded roughly 10,000 investors who paid $19 million in a virtual currency Ponzi scheme for computing power that largely didn’t exist.

  • December 1, 2015

    7 Banks Make Bid To Exit Forex Price-Fixing Lawsuit

    Seven financial institutions are urging a New York federal court to drop them from a putative class action over price fixing of foreign exchange rates, saying investors tied them to an exaggerated conspiracy theory in hopes of forcing a settlement.

  • December 1, 2015

    JPMorgan Must Face Suit Over $1.9B MBS Trust: NY Court

    JPMorgan Chase & Co. can’t kill a suit claiming it misrepresented the quality of loans in a $1.9 billion mortgage-backed securities trust, a New York appellate court ruled Tuesday, saying the bank had guaranteed information that later turned out to be inaccurate.

  • December 1, 2015

    Pillsbury Adds Deals Pros From Latham, Stikeman Elliott

    Pillsbury Winthrop Shaw Pittman LLP has picked up two capital markets and deals pros from Stikeman Elliott LLP and Latham & Watkins LLP with experience representing private equity, energy, technology and financial industry clients in London and the Middle East, the firm said this week.

  • December 1, 2015

    Wannabe Dark Pool Calls SEC's Status Denial Baseless

    Automated Matching Systems Exchange LLC, which aims to be a virtual marketplace for automated dark pool trades, has told the Eighth Circuit that without a real reason the U.S. Securities and Exchange Commission wrongly denied the company's application to run an exchange.

  • December 1, 2015

    Stock Transfer Agent Pleads Not Guilty To Wire Fraud

    The owner of a business that reorganizes company stock after mergers and acquisitions pled not guilty in Illinois federal court Tuesday to charges he spent $1.2 million on payroll expenses using client money meant for stock purchases.

  • December 1, 2015

    Glaucoma Drug Co. Says Investor Suit 'Makes No Sense'

    Aerie Pharmaceuticals Inc. on Monday fired back at a putative class action brought by investors who say the company misled them into thinking its top drug would perform better in clinical trials, telling a New Jersey federal court that the suit is based on “unfounded speculation” and “makes no sense.”

  • December 1, 2015

    CFTC Watchdog Probing Whistleblower Office Awards

    The inspector general of the U.S. Commodity Futures Trading Commission has reopened his review of the agency’s whistleblower office, with an aim to figure out why the agency is handing out so few whistleblower awards and what can be done about it, the watchdog said Monday.

  • December 1, 2015

    Deadlocked Blankenship Jury Receives Allen Charge

    Jurors deliberating in the criminal trial of former Massey Energy coal magnate Don Blankenship are deadlocked and have been given the “dynamite charge” that commands holdout jurors to reconsider, according to Blankenship's attorney.

  • December 1, 2015

    NY To Force Execs To Sign Off On Terror Funding Prevention

    New York state may soon require top executives at financial firms to certify that their institutions are in compliance with the state’s strict anti-money laundering rules under a proposal released Tuesday aimed at further cracking down on terror financing.

  • November 30, 2015

    Garmin Hid Spectrum Issues Around $1.9B Deal, 2nd Circ. Told

    Harbinger Capital Partners LLC asked the Second Circuit on Monday to revive claims that Garmin and other GPS makers defrauded their wireless-spectrum neighbor LightSquared, which Harbinger had acquired for $1.9 billion, by hiding issues that interfered with LightSquared's supposed spectrum band.

  • November 30, 2015

    Norris McLaughlin Sued Over Investor Row

    Norris McLaughlin & Marcus PA has been sued by a security equipment company alleging that the New Jersey firm law tried to sabotage its relationships with banks, vendors and employees while it represented of a group of dissident investors seeking to oust its board members.

  • November 30, 2015

    US Drops Hold On SEC's Admin Case Against SAC's Cohen

    Federal prosecutors told a Securities and Exchange Commission judge Monday they no longer need a stay on the agency’s administrative case against billionaire hedge fund runner Steven A. Cohen, days after the agency refused to ban an ex-Cohen employee whose insider trading conviction was overturned.

  • November 30, 2015

    Ex-Lehman Director Ordered To Pay $4M For Illegal Trading

    A U.S. Securities and Exchange Commission judge ruled Monday that an ex-Lehman Brothers managing director and the brokerage firm he formed after the Wall Street giant’s collapse must pay $4 million for trading in violation of registration requirements.

  • November 30, 2015

    Fed Keeps Flexibility Despite New Bailout Limits

    The Federal Reserve tightened up its rule eliminating its bailout powers for individual firms in response to pressure from lawmakers, but the failure to set a tough penalty rate for emergency loans still gives the agency too much flexibility to engineer a bailout, critics say.

  • November 30, 2015

    Mixed Martial Arts Exec Joins Fight Against SEC Courts

    A New Jersey resident facing a U.S. Securities and Exchange Commission action tied to his failed business, which aimed to organize mixed martial arts tournaments and sell related media content, is the latest person to sue the SEC claiming that its in-house court uses unconstitutionally appointed judges.

  • November 30, 2015

    Texas Ethics Board Punts On Out-Of-State Donor Guidance

    A Texas ethics commission on Monday referred a draft opinion that would allow a public official in the state attorney general's office to accept gifts from out-of-state donors to a subcommittee after some members raised concerns about the potential for “bundling,” a commission attorney said Monday.

Expert Analysis

  • Hiring Defense Attys: Why An Interview Process Is Vital

    Douglas W. Greene

    Companies named in a securities class action frequently fail to engage in a competitive interview process for their defense counsel, and instead simply retain litigation lawyers at the firm they use for their corporate work. But an interview process involves myriad benefits — including tens of thousands of dollars of free legal advice, says Douglas Greene, chairman of the securities litigation practice at Lane Powell PC.

  • Making The Most Of Document Analytics

    Rand Ghayad

    Recent case law reflects a clear progression toward judicial acceptance of document analytics. In this article, principals at The Brattle Group Inc. and the leader of Reed Smith LLP's records and e-discovery group summarize court opinions on the superiority of using predictive coding over keyword searches and provide an illustration of how a closely related method, topic modeling, can be used in document-intensive investigations.

  • What Happens In Latin America Doesn't Stay In Latin America

    Nicholas Berg

    Due to public pressure, Latin American governments are for the first time aggressively investigating allegations of bribery and corruption at the local level and actively cooperating with foreign government agencies, including the U.S. Department of Justice and the U.S. Securities and Exchange Commission. Companies operating in the region should take heed, say attorneys with Ropes & Gray LLP.

  • When A Victim Of Fraud Gets Sued For Fraud

    Richard D. Marshall

    The U.S. Securities and Exchange Commission's recent enforcement action against Virtus Investment Advisers — alleged to have been negligent in failing to investigate subadviser F Squared Investments' false claims more closely — raises the question of when an adviser can be liable for disseminating misstatements by another entity, say attorneys with Katten Muchin Rosenman LLP.

  • How Trial Counsel Can Take Advantage Of New Federal Rules

    Mark E. Tully

    Will the amendments to the Federal Rules of Civil Procedure actually help streamline cases, reduce discovery costs and improve case management? That is certainly the hope, although the key will be how well judges and counsel take advantage of early case assessment and management techniques, say Mark Tully and Michelle Briggs of Goodwin Procter LLP.

  • OPINION: In Search Of Our Best Law Firm Selves

    James Maiwurm.jpg

    Several developments over the past few months caught the eye of Jim Maiwurm, chairman emeritus of Squire Patton Boggs. Try as he might, he could not resist the temptation to comment on a few — such as the expansion of the Dentons “polycentric” empire, a confused verein controversy, and provocative suggestions that the law firm partnership model is a dinosaur.

  • From The Book Of Jargon: Happy Meal

    In this short video — the latest installment from the "Book of Jargon" — Latham & Watkins LLP partner Courtenay Myers Lima defines "happy meal."

  • Key Takeaways From The SEC’s 2015 Whistleblower Report

    Christian R. Bartholomew

    The U.S. Securities and Exchange Commission's recently released whistleblower report makes clear that the commission will continue to focus on issues raised in the case of KBR, and that it is actively interested in any company documents, policies or statements suggesting that an employee talks to the SEC at his or her own peril, say attorneys with Jenner & Block LLP, including a former SEC trial lawyer.

  • New Federal Rules Acknowledge It’s Time To Drop The 'E'

    Gregory Leighton

    The amendments to the Federal Rules of Civil Procedure scheduled to take effect Dec. 1 are designed to usher in a new era in the U.S. litigation system, this time acknowledging that what was once known as “e-discovery” is now just discovery. The amendments are sweeping in scope, but none is more important than the revised Rule 37(e), say Gregory Leighton and Eric Choi of Neal Gerber & Eisenberg LLP.

  • 10 Things You Should Know About Securities Crowdfunding

    Lori Smith

    The rules of the game have changed to accommodate the evolving dynamics of capital formation in the 21st century. Attorneys with White and Williams LLP highlight 10 key items that all potential issuers, investors and intermediaries need to consider before deciding to participate in securities-based crowdfunding.