The Commodity Futures Trading Commission lambasted a California district judge on Thursday over his dismissal of a $290 million fraud case against metals brokerage Monex Credit Co., telling the Ninth Circuit that the judge’s ruling ignored Congress’ intentions, clear statutory text and plain-English interpretations.
Massachusetts Financial Services, a Bay State investment manager, agreed Friday to fork over $1.9 million to settle allegations by the U.S. Securities and Exchange Commission that it touted hypothetical returns from its blended stock research ratings without disclosing that some of their superior performance came from back-testing models.
Meituan-Dianping set a price range for its public offering between HK$60 ($7.64) to HK$72 per share, Lyft Inc. has reportedly hired initial public offering adviser Class V Group LLC, and private equity-backed Qualtrics LLC is gearing up for an initial public offering.
An Illinois federal judge on Friday granted a law firm's bid to collect $20,000 in retainer fees for work performed leading up to and during a hearing in which he ordered a receivership over a real estate investment company accused of running a Ponzi scheme, saying the firm’s request is fair and reasonable.
By offering to rehear more than 100 cases brought before administrative law judges the U.S. Supreme Court determined were appointed unconstitutionally, the U.S. Securities and Exchange Commission is protecting itself against future challenges without necessarily altering the outcome of most disputes, experts say.
A Delaware federal judge on Thursday denied acquittal and new trial motions lodged by four former Wilmington Trust executives found guilty by a jury of securities fraud that stemmed from hundreds of millions of dollars in hidden real estate debt.
The Federal Reserve and the Federal Deposit Insurance Corp. said Thursday that they’re pushing back the deadlines for four major foreign banks and one nonbank to file their next round of "living wills" detailing how they can be speedily and safely wound down in the event of a crisis.
Companies will need to destroy old data, safeguard their information reserves and retrace breaches using digital breadcrumbs as part of new rules taking effect Tuesday in New York state's first-of-its-kind cybersecurity regulation. Here, Law360 breaks down three key issues.
Moody’s Corp. said Thursday that it will scoop up leading U.S. commercial real estate data provider Reis Inc. to expand its analytics capabilities in a $278 million all-cash transaction guided by Skadden Arps Slate Meagher & Flom LLP and Fried Frank Harris Shriver & Jacobson LLP.
The parent company of gay dating app Grindr Inc., Beijing Kunlun Wanwei Technology Co. Ltd., said on Thursday that it is contemplating taking the app public via an overseas listing, according to a filing on the Shenzen Stock Exchange.
Private investment firm PIR Equities said Thursday that it is looking to embrace emerging technologies in its latest investment push, committing $50 million over the next 12 months to blockchain-focused businesses.
Calling the current system of registration exemptions an "elaborate patchwork," U.S. Securities and Exchange Commission Chairman Jay Clayton said Wednesday that agency officials will develop a proposal to harmonize regulations for the rising number of private offerings not registered with the SEC.
A proposed class of investors on Thursday filed suit against Tesla Inc. over tweets from CEO Elon Musk about potentially taking the company private, telling a California federal court that the automaker's stock price dropped precipitously after the U.S. Securities and Exchange Commission announced it was investigating Musk's statements.
Great-West Life & Annuity Insurance Co. on Wednesday told the Tenth Circuit that a recent appellate court ruling that several major banks weren’t fiduciaries in an Employee Retirement Income Security Act suit supported the insurer’s win in a class action over how it distributed investment profits to 401(k) plan participants.
Singapore and Dubai regulators on Wednesday signed an agreement to foster development of financial technology companies in both of their jurisdictions, marking the latest of several cross-border agreements among developing nations looking to lure emerging companies.
The U.S. Commodity Futures Trading Commission said Wednesday that BNP Paribas will pay a $90 million civil penalty to settle the agency's allegations that the bank attempted to manipulate the ISDAfix benchmark over a roughly five-year period to benefit its derivatives positions.
Silicon Valley-based data storage and management company Cloudian on Wednesday said its latest funding round took in $94 million from investors, more than doubling its funding total to date as the firm looks to improve its sales and marketing capabilities and grow its engineering team.
The U.S. Senate confirmed late Tuesday the nominations of WilmerHale partner Dan Berkovitz and government relations consultant Dawn DeBerry Stump to join the Commodity Futures Trading Commission, positioning the derivatives regulator to operate at full capacity for the first time in four years.
Dfinity Foundation, a blockchain-based cloud computing project that aims to become the “decentralized world computer,” said Wednesday that it has raised $102 million in funding from venture capital investors led by Andreessen Horowitz and Polychain Capital.
The U.S. Securities and Exchange Commission on Tuesday sued a Carlyle Gaming and Entertainment Ltd. executive in New Jersey federal court for allegedly advertising a phony initial public offering and fraudulently misappropriating $3 million in investor funds for his personal use.
Law professor Nathalie Martin's new book, "Lawyering From the Inside Out: Learning Professional Development Through Mindfulness and Emotional Intelligence," can be of value to any lawyer aiming to achieve greater productivity, relieve the stress of the legal profession and focus on goals, says U.S. District Chief Judge Denise Page Hood of the Eastern District of Michigan.
In the past few years, the U.S. Securities and Exchange Commission has become increasingly active in bringing enforcement actions based on broker-dealers' alleged failures to comply with the Bank Secrecy Act. But the SEC's authority to bring BSA actions has never been established — and is currently being challenged in SEC v. Alpine Securities, say attorneys with Orrick Herrington & Sutcliffe LLP.
The blockbuster e-discovery cases, with big sanctions and bigger controversies, have been few and far between this year. But that doesn’t mean the legal questions around e-discovery have been answered. Let’s take a closer look at three cases worthy of our attention, says Casey Sullivan, an attorney at discovery technology provider Logikcull.
A Florida magistrate judge's finding last month that tokens issued and sold by technology startup Centra Tech are investment contracts could serve as a road map for the evaluation of token sales in other cases, say attorneys with DLA Piper.
Later this week, Harvard Law students will begin bidding on interview slots with the nation’s top law firms. Our institutions owe it to their students not only to require firms to disclose mandatory arbitration provisions in new associate contracts, but also to bar employers from on-campus recruiting if they require these provisions, says Isabel Finley, a third-year student at Harvard Law School and president of the Harvard Women’s Law Association.
A takeaway from the few public statements available so far is that Jelena McWilliams, the Federal Deposit Insurance Corp.'s new chairwoman, has put forth an ambitious, pro-industry agenda that will require coordination among the banking regulators, say Kristina Whittaker and Neil Bloomfield of Moore & Van Allen PLLC.
Many legal teams involved in cross-border matters still hesitate to use technology assisted review, questioning its ability to handle non-English document collections. However, with the proper expertise, modern TAR can be used with any language, including challenging Asian languages, say John Tredennick and David Sannar of Catalyst Repository Systems.
The U.S. Securities and Exchange Commission’s post-Lucia problems extend beyond the practical challenge of litigating cases for a second time. The U.S. Supreme Court's decision has also set up several concrete defense arguments for respondents in SEC administrative actions, say Andrew Morris and Ben Aiken of Orrick Herrrington & Sutcliffe LLP.
A significant number of the securities class actions filed in the first half of 2018 were merger objection lawsuits, but the number of traditional filings alone was well above historical levels. If this pace continues, 2018 filings would approach last year’s elevated total, says Kevin LaCroix of RT ProExec.
The U.S. Supreme Court’s reasoning in China Agritech v. Resh denies American Pipe tolling to successive class actions, but plaintiffs seeking to bring securities actions need not despair. Several aspects of the decision, and Justice Sonia Sotomayor’s concurrence, confirm plaintiffs’ rights in key areas, say attorneys with Labaton Sucharow LLP.