Securities Law360 provides breaking news and analysis on securities law and corporate governance. Coverage includes high-stakes shareholder litigation, government enforcement actions, and related policy developments.
The selection of former Federal Reserve Chair Janet Yellen to serve as treasury secretary in the incoming Biden administration could position the Financial Stability Oversight Council to step up its scrutiny of the nonbank sector, a corner of the financial system that is drawing renewed concerns about its potential fragility.
The U.S. Commodity Futures Trading Commission on Monday asked a federal judge in Atlanta to give it an automatic win in litigation against a bogus forex trader who conned more than 10,000 investors out of a total $3.9 million selling a phony foreign exchange trading software product.
A U.S. Court of Federal Claims judge has dismissed a suit by Puerto Rican bondholders seeking to stake a claim on future retirement fund contributions, saying a 2020 Supreme Court ruling had stripped its jurisdiction, and that "mere hope" is not something the bondholders could claim.
The Second Circuit has overturned a decision in a derivative securities suit ordering a hedge fund with a stake in 1-800-Flowers to cough up the $4.9 million it earned buying and selling company stock, finding that questions remain over who controls the shares in the flower delivery retailer.
A New York federal judge wasn't happy with the amount of hours or law firms on the attorney fee bill she received in the wake of a $187 million deal with JPMorgan and other major financial institutions over claims of interbank rate rigging, but on Tuesday she granted $45 million in fees anyway.