A New York federal judge ruled Tuesday that cryptocurrencies can be regulated by the Commodity Futures Trading Commission as commodities, rejecting a fraud defendant's argument that he and his cryptocurrency trading advice company are outside the commodities watchdog’s jurisdiction.
Investment firm DoubleLine Capital LP and its funds have asked a Manhattan federal judge to reject an effort by scandal-wracked Brazilian builder Odebrecht to dismiss their fraud suit, saying they lost millions when Odebrecht’s bribery-centric business strategy came to light.
A pair of Sirius Capital Partners funds has spun off a portfolio of 123 grocery-anchored properties in Finland, selling the assets to newly formed Cibus Nordic Real Estate AB for €767 million ($952 million) as the new company prepares to go public later this week, Cibus said Wednesday.
Real estate-focused cryptocurrency startup The Praetorian Group filed an anticipated $75 million initial coin offering with the U.S. Securities and Exchange Commission on Tuesday, marking what is believed to be the first company to publicly register its ICO with the agency.
A New York federal judge has dismissed a suit by a former employee of global energy company Mercuria Energy Trading seeking a $32.6 million payment for shares he owned in a Mercuria affiliate, saying the employee’s payout was tied to a merger that never happened.
New Jersey has ordered an electronic cash investment vehicle to stop offering allegedly unregistered securities in the state as part of its efforts to crack down on cryptocurrency fraud, the attorney general announced Wednesday.
Alston & Bird announced Wednesday that it has expanded its finance capabilities in its New York office, adding three partners and two associates from Andrews Kurth Kenyon LLP with experience helping clients buy and sell loans and securities of distressed or bankrupt companies.
The U.S. Securities and Exchange Commission urged a California federal court Tuesday not to dismiss its suit against a husband and wife team it claims fraudulently raised $22.5 million from Chinese investors looking to obtain green cards through the federal EB-5 visa program.
Mayer Brown LLP confirmed on Wednesday that it has parted ways with a New York-based capital markets partner — 10 days after announcing it had hired him — following allegations that the partner engaged in “inappropriate conduct” at his previous firm.
App-based banking startup Atom Bank PLC said Wednesday it has raised £149 million ($206.8 million) to further invest in its technology and business capabilities, with most funding coming from cornerstone investors Toscafund Asset Management LLP and Banco Bilbao Vizcaya Argentaria SA.
Wells Fargo Securities LLC leveled a lawsuit at LJM Investment Fund LP in New York federal court on Tuesday, seeking to recover more than $16 million the financial giant says it doled out to cover the commodity pool’s losses in February’s stock market fall.
Cryptocurrency exchange Coinbase Inc. has been slapped with a proposed class action in California federal court accusing the company of illegally keeping bitcoins people were sent simply because an email notification had expired.
Looking to draw jurisdictional boundaries, Puerto Rico's energy regulator has filed an adversary complaint against the island’s electric utility and the federal board shepherding the territory through its historic debt crisis, saying it must authorize any restructuring changes that impact its areas of oversight.
An amicus brief filed by a pair of professors in a U.S. Supreme Court case that will decide whether SEC administrative law judges are constitutional says there is no hard evidence that the judges are biased toward rulings that favor the agency, but other legal experts say the question of bias is beside the point.
The U.S. Securities and Exchange Commission will launch deliberations on a New York Stock Exchange proposal to ease listing rules on blank check companies, which make up a growing subset of the initial public offerings market, according to an order Monday.
A group of investors behind an antitrust suit accusing Goldman Sachs, Morgan Stanley and several other big banks of conspiring to preserve their dominance over the stock loan market told a New York federal court on Friday that these prime broker powerhouses are “dead wrong” to call some of the case’s allegations recycled.
The U.S. Securities and Exchange Commission said Tuesday that the New York Stock Exchange LLC and two affiliated exchanges have agreed to pay a $14 million civil penalty to settle claims of regulatory breakdowns, which stem in part from episodes in 2015 where the exchanges ran into trouble with technical glitches and market volatility.
Ocwen Financial Corp. ignored its fiduciary duties under the Employee Retirement Income Security Act while servicing residential mortgage-backed securities and unjustly profited from them during the financial crisis, a benefit plan alleged in New York federal court Monday.
The Royal Bank of Scotland PLC has agreed to pay $500 million to settle claims that it bilked investors in residential mortgage backed securities during the run-up to the financial crisis of 2007 and 2008, the New York attorney general said Tuesday.
President Donald Trump’s chief economic adviser, Gary Cohn, stepped down from his role Tuesday after reportedly opposing the president’s proposed tariffs on steel and aluminum imports.
On Tuesday, the Trump administration announced 12 new judicial nominations. We will soon discover whether these candidates learned from the mistakes of the three nominees forced to withdraw in December after bipartisan concerns arose over their qualifications, says Arun Rao, executive VP of Investigative Group International.
I had not expected to be in the U.S. Supreme Court on March 22, 2016. To me, our opponent's petition seemed quite like a long shot. But clearly I had underestimated the appeal of their argument, says Matthew McGill of Gibson Dunn & Crutcher LLP.
A series of issuances from the U.S. Department of Justice during the Obama era provided the basis for the only federal guidance on banking services for the marijuana sector. With Attorney General Jeff Sessions' recent rescission of these DOJ memos, the future of the banking guidance is now unclear, says Elizabeth Khalil of Dykema Gossett PLLC.
While technology is making certain aspects of e-discovery faster and easier, it is also creating new challenges as quickly as we can provide solutions. The good news is that there are concrete steps businesses can take to address those challenges, says Peter Ostrega of Consilio LLC.
In the early days of the residential mortgage-backed securities and repurchase litigation that followed the 2008 crisis, plaintiffs’ strategy of proving their allegations through statistical sampling was highly successful. However, in recent years, a new trend has emerged, say attorneys with Buckley Sandler LLP.
As the price of bitcoin continues to rise, so does the demand for financing secured by bitcoin. Lenders need to ensure they are complying with existing law — law that did not develop with bitcoin in mind, including the Commodity Exchange Act, say Matthew Frankle and Nora Wong of Greenberg Traurig LLP.
Although Attorney General Jeff Sessions' rescission of the Cole memo does not change federal law, negative response to the rescission across the cannabis sector and political landscape was strong, swift and bipartisan, which may lead to congressional action in the future, say Jonathan Robbins and Joshua Mandell of Akerman LLP.
New Jersey is one of the most competitive and heavily regulated states in terms of health care, making it a good barometer for how the industry is evolving nationally. As physicians and medical groups deal with issues like flat reimbursement from insurance providers and the rapidly rising costs of operating a medical practice, the ways in which doctors deliver health care will continue to change in 2018, says John Fanburg of Brach Eichler LLC.
Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.
As initial coin offerings are a means to effectuate crowdfunded capital formation, issuers will likely try to meet one of the three securities registration exemptions in the Jobs Act. Aaron Kaplan of Gusrae Kaplan Nusbaum PLLC explains why the exemption under Regulation A-Plus is the most suitable.