Robbins Geller Rudman & Dowd LLP has raised concerns that Bernstein Litowitz Berger & Grossmann LLP hired the former deputy CEO of its own client, the lead plaintiff in a massive investor class action against Symantec Corp., and then failed to disclose that potential conflict of interest to a California federal judge.
The Third Circuit has refused to revive a proposed securities class action over private equity firm HIG Capital's roughly $360 million acquisition of Lionbridge Technologies Inc., rejecting claims that the globalization specialist issued a misleading proxy statement in seeking shareholder approval of the deal.
The Trump administration continues to argue its order blocking certain visa holders from moving to the U.S. was a necessary response to the pandemic, Transportation Security Administration employees say they're owed virus hazard pay, and Norwegian Cruise Line wants out of a shareholder suit claiming it ran a deceptive sales campaign downplaying COVID-19.
Investors of Tampa-based health insurance company Health Insurance Innovations urged a Florida federal judge on Thursday to sign off on an $11 million class settlement to end claims that the company led a "bait-and-switch scam" that caused its stock to drop 62% when it came to light.
An industrial hemp company and its CEO have signed consent orders agreeing to settle a lawsuit brought by the U.S. Securities and Exchange Commission over claims they utilized a web of shell companies to illegally sell unregistered securities.
A New York state appeals court on Thursday stepped in and lifted a stay on an investor action accusing the Chinese online microlender Qudian of going public without disclosing the extent of a principal shareholder's control over its operations.
The U.S. Securities and Exchange Commission said Thursday that "FinHub," the agency's two-year-old effort to provide regulatory clarity and facilitate communication with players in the fintech industry, will become a stand-alone office.
A New York federal judge ruled Wednesday that a Swiss businessman ignoring civil and criminal cases accusing him of engaging in insider trading ahead of Sanofi SA's acquisition of Bioverativ Inc. owes the U.S. Securities and Exchange Commission $9.8 million, down from the requested $14.8 million.
The U.S. Securities and Exchange Commission announced Thursday that a former federal prosecutor and litigation partner at Nelson Mullins Riley & Scarborough LLP has been named director of the agency's Atlanta regional office.
Biotech company Vivus Inc. received approval Thursday for an amended Chapter 11 plan that provides additional recoveries for existing shareholders through a drug sale royalty settlement, after a Delaware judge rejected its earlier plan proposal because of the plan's treatment of equity.
Glancy Prongay & Murray LLP will represent a proposed class of investors in a suit accusing cartoon company Genius Brands International Inc. of targeting unsophisticated investors with lies and "a nonstop campaign of hype and press releases" that gave them "fear of missing out," a federal judge in Los Angeles said Wednesday.
A Kansas federal judge dismissed a would-be class action that accused Cerner Corp. of saddling its 401(k) plan with excessive fees and steering workers' retirement savings into underperforming Cerner stock, ruling the suit covered the same ground as an ERISA case filed months earlier.
A fiber optics equipment manufacturer urged a Texas judge Wednesday to toss what it called a "tag along" derivative action that alleges the company's executives and directors misled shareholders about falling sales and sold their shares before the company's stock value dropped.
Paul Weiss Rifkind Wharton & Garrison LLP guided several groundbreaking wins over the past year, including securing the dismissal of an unprecedented $50 billion breach-of-fiduciary duty suit against Blackstone, earning the firm a spot among Law360's 2020 Securities Practice Groups of the Year.
South Carolina utility company SCANA Corp. and its subsidiary have reached a $137.5 million deal to settle the U.S. Securities and Exchange Commission's claims that they defrauded investors by making false statements about an abandoned $9 billion nuclear power plant expansion, federal prosecutors announced Thursday.
Energy trading company Vitol Inc. has agreed to pay over $163 million to resolve allegations that it bribed officials from the state-backed energy companies of Brazil, Ecuador and Mexico to secure business.
Senators voted on Thursday to confirm Christopher Waller to a seat on the Federal Reserve's governing body, sewing up what is likely President Donald Trump's last appointment to the central bank as the confirmation prospects dim for his other Fed nominee, Judy Shelton.
Molson Coors Beverage Co. beat an investor suit claiming tax filing errors caused its stock price to tumble, after a Colorado federal court ruled Wednesday the investors failed to show that the beer company intentionally or recklessly misrepresented its financial situation.
A Pennsylvania federal judge on Wednesday declined to throw out a proposed class action over EQT Corp.'s merger with Rice Energy, ruling that investors adequately alleged that EQT's executives made statements about the benefits of the merger that "were simply not true at the time they were made."
A Second Circuit panel on Wednesday allowed a former JPMorgan Chase & Co. foreign currency trader to delay reporting to prison while he appeals his price-fixing conviction, one day after the judges indicated they would grant bail while they mull a legal question raised by the defense.
Glancy Prongay & Murray LLP, Levi & Korsinsky LLP, Bernstein Liebhard LLP, Bragar Eagel & Squire PC, Pomerantz LLP and The Rosen Law Firm PA are vying to helm a proposed class action in New Jersey federal court against Aurora Cannabis Inc. for allegedly misleading investors, after Block & Leviton LLP on Wednesday walked away from that fight.
The U.S. House of Representatives on Wednesday easily approved a bill to tighten requirements for foreign companies hoping to sell shares in America, a Senate-passed measure aimed at Chinese companies that will now go to the president's desk.
A California federal judge told counsel Wednesday he doesn't plan to further delay the in-person criminal jury trial of ex-Theranos CEO Elizabeth Holmes due to the coronavirus pandemic, saying he's "hopeful and optimistic" that the monthslong trial will start March 9 with new courtroom safety protocols in place.
A broker-dealer is aiming to persuade a federal judge not to toss its lawsuit claiming U.S. Bank negligently permitted con artist Jason Galanis and his associates to fraudulently transfer tribal bonds, including a $5 million bond the brokerage firm purchased but says is now worthless.
A Delaware legal team that helped reach a $310 million toxic workplace settlement with California-based Google parent Alphabet Inc. in a stockholder suit earlier this year asked the Chancery Court on Friday to approve an $11.3 million fee for its contribution to the deal.
Attorneys at Ropes & Gray evaluate several factors that may advance the burgeoning blockchain industry, such as the proliferation of decentralized tokens, the creation and acceptance of digital asset trading platforms, and greater clarity on tax and regulatory structure.
In light of recent American Bar Association guidance on conflicts of interest posed by social or intimate relationships between opposing counsel, lawyers must carefully consider whether any personal ties could lead to ethics violations that may affect the outcome of a case, say Thomas Wilkinson and Douglas Fox at Cozen O'Connor.
After covering the Judicial Panel on Multidistrict Litigation for eight years, Alan Rothman at Sidley looks back at the advent of video hearings during the pandemic and a panel full of U.S. district court judges, as well as the persistent dominance of product liability cases in the panel's docket.
Litigants' emotions can doom the prospects for settlement during mediation, so listening with empathy and helping parties look at a case less emotionally are important tools in a mediator's kit, says Sidney Schenkier at JAMS.
Attorneys at Arnold & Porter explore regulatory expectations for the financial services sector in the wake of the presidential election, including federal agency leadership, banking regulation and agency actions, renewed focus on consumer protection, predictions for fintech, and prospects for a new financial transaction tax.
Lisa Tucker's collection of essays, "Hamilton and the Law: Reading Today's Most Contentious Legal Issues Through the Hit Musical," has the seemingly incongruous effect of drawing the reader into America's formative history while also contemplating the intractable issues facing us today, including racial justice, immigration and gender equality, says Ninth Circuit Judge Kim Wardlaw.
The Delaware Chancery Court's recent decision in Mindbody illustrates how courts assess alleged management conflicts in M&A litigation, but the case's core lesson is the need for boards of directors to uncover and manage actual and potential conflicts of interest in the sale process — in particular, those of the lead negotiators, say Tyler O'Connell and Albert Carroll at Morris James.
Attorneys can use a new predeposition meet-and-confer obligation for federal litigation — taking effect Tuesday — to better understand and narrow the topics of planned testimony, and more clearly outline the scope of any discovery disputes, says James Wagstaffe at Wagstaffe von Loewenfeldt Busch.
Congressional investigations in the health care, financial services, fossil fuel and technology sectors are likely to intensify next year amid a highly partisan environment, and companies that may be targets should get ready for testimony and document production well before an inquiry, say attorneys at Hogan Lovells.
Attorneys at Morgan Lewis discuss how quickly companies may see policy changes from new leadership at the U.S. Department of Treasury, U.S. Department of Justice, U.S. Department of Labor, U.S. Equal Employment Opportunity Commission and National Labor Relations Board after the Biden administration takes office.
Other corporations may follow MicroStrategy's lead and invest in problematic Bitcoin, in what appears to be a new chapter of irresponsible corporate behavior, says cybersecurity consultant John Reed Stark.
Many organizations are making plans for executives to go into government jobs, or for government officials to join a private sector team, but they must understand the many ethics rules that can put a damper on just how valuable the former employee or new hire can be, say Scott Thomas and Jennifer Carrier at Blank Rome.
President-elect Joe Biden's U.S. Securities and Exchange Commission will almost certainly usher in a reversal of recent years' slow pace of auditor enforcement — just 11 actions this year — back up toward the levels of the Obama administration's Operation Broken Gate, say Charles Smith and Andrew Fuchs at Skadden.
While the Delaware Supreme Court's recent decision in Solera is a blow for companies in the state seeking protection for certain key appraisal proceedings, the ruling hinges on the insurers' narrow definition of a violation that will trigger directors and officers coverage for securities-related claims, making it unlikely that other jurisdictions will follow suit, say attorneys at Hunton.
As the pandemic brings a variety of legal stresses for businesses, lawyers must understand the emotional dynamic of a crisis and the particular energy it produces to effectively fulfill their role as advisers, say Meredith Parfet and Aaron Solomon at Ravenyard Group.