A Brooklyn federal judge on Tuesday rejected an alleged fraudster's argument that he couldn't be charged with securities fraud because the digital tokens he sold were not securities, saying only a jury can resolve that question and clearing the way for prosecutors to press forward to trial.
This year is on track to be one of the busiest for federal securities litigation, with Levi & Korsinsky LLP filing the most federal securities cases during a recent 18-month period and Skadden Arps Slate Meagher & Flom LLP topping the list on the defense side, according to a report released Tuesday.
A Maryland federal judge on Monday denied a bid to dismiss an indictment accusing the CEO of an Israeli sales and marketing company of participating in a conspiracy to defraud U.S.-based investors in “binary options,” saying the government adequately stated its claims and is not improperly prosecuting extraterritorial conduct.
The legal industry has shown some caution in rebuilding its pool of associates after the dramatic layoffs of thousands during the last recession. But have firms done enough to survive the next?
The U.S. Securities and Exchange Commission filed separate lawsuits in New York federal court on Friday against two broker-dealers who allegedly took in a combined $4.6 million through fraudulent schemes involving excessive, high-frequency trading.
Volvo Cars has reportedly put its plans to go public in Stockholm on hold indefinitely, EQT Partners is mulling going public, and the Public Investment Fund of Saudi Arabia has tapped Bank of America Merrill Lynch, Goldman Sachs and M. Klein & Co. related to a SABIC stake sale.
A leading foreign currency exchange trade group has come out in support of former HSBC executive Mark Johnson's bid to overturn his conviction for defrauding Cairn Energy PLC in a $3.5 billion transaction, calling it an industry-standard deal that the banker had no reason to believe was illicit.
Remora Royalties Inc., which owns mineral and royalty interests in oil and gas properties, and Oklahoma-based Bank7 Corp. on Monday launched initial public offerings estimated to raise a combined $170 million, adding to a packed calendar of IPOs scheduled to price next week.
The U.S. Securities and Exchange Commission on Friday told a New York federal judge it had reached a settlement with a former managing director of Nomura Securities International Inc., resolving allegations that he had participated in a $7 million residential mortgage-backed securities fraud.
The New York State Department of Financial Services on Monday said it has authorized digital asset exchange services Gemini Trust Co. LLC and Paxos Trust Co. LLC to offer a price-stable cryptocurrency that is linked to the U.S. dollar.
Litigation funder Vannin Capital on Monday unveiled plans to float on the London Stock Exchange in a £70 million ($91.2 million) initial public offering, the same day it announced that a former Allen & Overy LLP senior partner has joined the firm as its newest chairman.
The International Swaps and Derivatives Association urged global regulators on Monday to introduce more flexibility to clearing rules and improve the capacity of the market as part of their efforts to incentivize the central clearing of over-the-counter derivatives.
For starting attorneys, the financial crisis casts a long shadow, even though the worst is past. Here’s our breakdown of the data showing its impact and where the industry’s headed.
It’s been almost 10 years since Lehman Brothers collapsed — kicking off a global recession and putting two Skadden partners on a path to building a firm that would weather the storm. Here's how upstarts and their larger rivals are positioning themselves for the next downturn.
A former chairman of Teva Pharmaceutical Industries Ltd. as well as a blockchain company's CEO and its biggest investor were sued by the U.S. Securities and Exchange Commission in New York federal court on allegations they masterminded a $27 million pump-and-dump scheme.
The U.S. Securities and Exchange Commission’s two-year pilot program that increased the minimum trading increments of certain stocks to nickels from pennies could cost investors an estimated $350 million, but is widely seen as having little if any positive impact on trades of smaller companies.
The U.S. Consumer Financial Protection Bureau said on Friday that it intends to submit a proposed policy revision in Monday’s Federal Register regarding the "disclosure sandbox," a subsection of the Dodd-Frank reforms that allows corporations to try out new disclosure policies regarding consumer financial products and services in order to streamline existing disclosure policies.
Pipe giant Zekelman Industries Inc. set pricing terms for an initial public offering estimated to raise $752 million on Friday, representing the largest deal among three companies that formally launched IPOs expected to surpass $1 billion in combined proceeds.
Okea AS, a Norwegian oil and gas production and development company, said Friday it is planning an initial public offering within 12 months and is contemplating a NOK110 million ($13 million) private placement of new shares.
Churchill Capital Corp. priced an upsized $600 million initial public offering on Thursday to help fund a potential acquisition of a data or analytics business, topping another blank-check company that priced its own $375 million IPO this week, bringing the combined total of the deals to $975 million.
As a clerk for Justice Ruth Bader Ginsburg, my job was to mirror my boss’ views and values in everything I did. Years later, I find that I am still striving to live up to the values Justice Ginsburg instilled in me, as both a lawyer and a spouse, says Burden Walker, an assistant U.S. attorney for the District of Maryland.
The U.S. Attorney’s Office for the District of Connecticut, following reversals of two prior convictions, has moved to dismiss its remaining securities fraud claim against bond trader Jesse Litvak. While it can be difficult to prove misstatements are material as a matter of law, the government's move is certainly not a death knell for similarly grounded fraud charges, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
Justice Ruth Bader Ginsburg is everything she is cracked up to be — feminist icon, brilliant jurist, fierce dissenter. She is also an incredible boss, mentor and friend. Her advice has shaped how I have tried to balance building a career and raising children, says Rachel Wainer Apter, counsel to the New Jersey attorney general.
If Jobs Act 3.0 is signed into law, it will reflect the GOP’s pivot away from the wholesale repeal of Dodd-Frank and its embrace of a piecemeal strategy to chip away at the 2010 law. Though capital formation is the headliner of Jobs Act 3.0, this bill does contain a few Dodd-Frank reform measures that have been overlooked in most news coverage but are worth highlighting, says Lai King Lam of McGuireWoods Consulting LLC.
One of us was a clerk when Justice Ruth Bader Ginsburg read her Ledbetter dissent from the bench, inviting Congress to act, and the other clerked a few years later, when RBG's prominently displayed copy of the Lilly Ledbetter Fair Pay Act served as a daily reminder that dissents are not just for show, say Arun Subramanian and Mark Musico of Susman Godfrey LLP.
Following a July hearing by the House Committee on Agriculture on the regulation of cryptocurrencies and blockchain technology, Todd Friedman of Silver Miller recaps the views of various stakeholders — from the former head of JPMorgan's blockchain program to a former chairman of the U.S. Commodity Futures Trading Commission.
As clerks for Justice Ruth Bader Ginsburg, we learned early on that, when preparing a memorandum or draft opinion, it was essential to present any opposing argument in its strongest possible light. There is a lesson here for today's public debates, says Trevor Morrison, dean of NYU Law School.
U.S. District Judge Manish Shah of the Northern District of Illinois recently said he will consider lead firms’ willingness to put young and diverse attorneys in positions to take substantive roles in the multidistrict litigation he is overseeing. This is an improper use of judicial power, says J.B. Heaton, a University of Chicago business law fellow and former partner at Bartlit Beck.
The confirmation of Judge Brett Kavanaugh to the U.S. Supreme Court will likely result in further solidification of the current administration's limited regulatory approach and represent a more pronounced shift toward supporting the decisions of financial institutions in conducting business, say attorneys with Eversheds Sutherland.
I clerked for Justice Ruth Bader Ginsburg before the days of RBG bobbleheads and “You Can’t Spell Truth Without Ruth” T-shirts. I had no idea I would become a judge, and I feel lucky every day that I had the chance to learn from her, says California Supreme Court Justice Goodwin Liu.