A California lawyer accused of cheating EB-5 immigrant investors out of millions has agreed to pay more than $2 million to settle claims that he illegally used the money to support his businesses and lifestyle, the U.S. Securities and Exchange Commission told a federal judge Thursday.
Executives and shareholders of a bitcoin mining business artificially boosted the company's stock price in a pump-and-dump scheme that involved exaggerating the success of the company’s onetime CEO, antivirus software inventor John McAfee, an investor said Friday in a proposed class action.
A group of Chinese nationals Friday urged a Florida bankruptcy judge to allow claims they were fraudulently induced to invest through the EB-5 immigrant visa program in a now-bankrupt South Florida hotel project to move forward.
Nine firms are set to guide initial public offerings by five companies expecting to raise about $779 million during the week of Oct. 1 — a lineup dominated by technology and health care-related issuers, plus a blank check company eyeing a health care acquisition.
The Commodity Futures Trading Commission announced Friday that it has created an insider trading task force, the same day the agency accused a Houston-based energy commodities broker of using clients’ trading information to help a friend make money.
The U.S. Securities and Exchange Commission said in an order Friday that Credit Suisse Securities LLC will pay the commission $5 million and the New York state attorney general’s office $5 million to settle claims that it misrepresented a now-closed market making desk’s process for executing customer orders.
The Federal Circuit on Friday reversed a decision that made Gutride Safier LLP jointly liable for more than $500,000 in attorneys’ fees imposed on a nonpracticing entity it represented, saying that since the law on patent-eligibility is unsettled, the lower court was wrong to find the suit was frivolous.
Skadden Arps Slate Meagher & Flom LLP-led mobile internet company CooTek (Cayman) Inc. and Latham & Watkins LLP-led cancer immunotherapy maker Gritstone Oncology Inc. started trading on Friday after pricing initial public offerings late Thursday raising an aggregate amount of approximately $152.2 million.
Corporate messaging software startup Slack Technologies is readying an IPO for the first half of next year, chicken and biscuits chain Bojangles could be up for grabs, and multiple private equity suitors have expressed interest in a major investment in Indian conglomerate Shriram Group.
AnaCap Financial Partners LLP has picked up €225 million ($261.2 million) worth of loan portfolios that are tied to properties in Italy, the private equity firm announced Friday.
A former Morgan Stanley trader and self-styled hedge fund manager who took more than $24 million from friends and family and lost most of it through risky options trading was sentenced to eight years in prison by a Manhattan federal judge on Thursday.
A New York federal judge ruled Thursday that a group of investors may proceed with an antitrust suit accusing units of Morgan Stanley, Goldman Sachs and several other big banks of conspiring to thwart modernization of and preserve their dominance over the stock loan market.
A California federal judge said Thursday he is leaning toward tossing with leave to amend an investor's potential class action claiming Coinbase inflated the price of bitcoin cash by suddenly opening the market to trades and then closing it two minutes later, saying it seems that something was "bungled," but the suit doesn't explain why or how.
The U.S. Securities and Exchange Commission and Commodity Futures Trading Commission collaborated to bring five federal complaints Thursday against marketers they claim duped at least 75,000 investors out of tens of millions of dollars with videos that falsely promised quick money.
Another former Deutsche Bank derivatives trader on Thursday told a Manhattan federal jury that he pushed colleagues at the German lender to alter London Interbank Offered Rate submissions to benefit his trading positions, which cheated his counterparties.
Cognizant is discussing a deal to buy Softvision, Goldman Sachs and JP Morgan have earned a spot on Perella Weinberg Partners’ initial public offering, and Grab is considering selling a large stake in its Thai unit to retailer Central Group.
Five companies debuted in public markets on Thursday after pricing initial public offerings that raised $483 million combined, led by three biotechnology firms, the dominant industry behind this week's surge in IPOs.
Credit Suisse asked an Alabama federal court on Wednesday to dismiss a complaint that alleges the bank misrepresented the value of certain short-term notes during a critical time of steep price drops and investor losses, saying the investors knew or should have known of the risks associated with the notes.
The U.S Securities and Exchange Commission sued Tesla CEO Elon Musk on Thursday in New York federal court for allegedly making a baseless assertion last month that he was prepared to take his company private at a significant premium to its stock price at the time.
Cryptocurrency mining giant Bitmain Technologies Holding Co. filed for an initial public offering in Hong Kong, represented by Davis Polk & Wardwell LLP, while Clifford Chance LLP is playing a lead role advising the underwriters.
E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.
A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Russell Shinsky of Anchin Block & Anchin LLP.
Forget about cameras, reporters in the Manafort trial were not even permitted in the courtroom with their phones, tablets or computers. That meant no live reporting on Twitter and no emails to the newsrooms with updates. In a world focused on information and news as it happens, this is unacceptable, says trial attorney David Oscar Markus.
There has been a flurry of subpoenas and investigations into cryptocurrency trading and initial coin offerings in the first eight months of this year. These investigations, on the rise, are coming from both state and federal regulators, says Daniel Payne of Murphy & McGonigle PC.
Earlier this year, the U.S. Supreme Court ruled unanimously in China Agritech v. Resh that statutes of limitations cannot be tolled for subsequent class actions. Here, members of the O'Melveny & Myers LLP team that defended China Agritech describe how an otherwise routine securities case turned into a far-reaching check on serial class actions.
While most law firm executives and partners may instinctively want to tune out terms like "high availability" and "disaster recovery" — concepts that IT managers usually worry about — there are five reasons you should lean in and wrestle with the vocabulary, say Jeff Norris of Managed Technology Services LLC and Greg Inge of information security consulting firm CQR.
The "fake news" phenomenon is ever more prominent in the political arena — but not in the jury box. At a trial, jurors don’t have to rely on the media or any other source to tell them the facts and issues, since they have a front-row seat to the action, says Ross Laguzza, a consultant at R&D Strategic Solutions LLC.
The national securities exchanges are now profit-seeking commercial enterprises, but they continue to argue that they are absolutely immune from suits arising from a wide range of competitive activity. Courts, however, are rejecting these arguments, and it is likely that the U.S. Securities and Exchange Commission will address the matter soon, say attorneys with Foley & Lardner LLP.
In his new book, "The Last Great Colonial Lawyer: The Life and Legacy of Jeremiah Gridley," Charles McKirdy argues that Gridley — someone I had never heard of — was the last great colonial lawyer, and that his cases illuminate his times. The author largely substantiates both claims, says First Circuit Judge Kermit Lipez.
Coffey v. Ripple Labs is a much-anticipated cryptocurrency case that squarely presents the question of whether Ripple is a “security” within the meaning of the securities laws. A recent decision in the case, however, addressed an important removal question of more general applicability, says Douglas Pepe of Joseph Hage Aaronson LLC.