Securities

  • May 13, 2025

    Feds Say Crypto Developer's Money Transmitter Suit Isn't Ripe

    The U.S. Department of Justice urged a Texas federal judge to cut through a lawsuit seeking to protect forthcoming crypto crowdfunding software from an enforcement action, arguing the software developer's purported business plan stands apart from the DOJ's crypto money transmission prosecutions.

  • May 13, 2025

    Colo. Justice Iffy On Tossing Rulings In Securities Fraud Case

    A Colorado Supreme Court justice said he was a bit troubled that three decisions might be overturned if he accepts the state's argument that attorney advice isn't relevant to a securities fraud defendant's state of mind, musing that perhaps those previous courts "got it right."

  • May 13, 2025

    Nike Seeks Dismissal Of Investors' Sales Strategy Fraud Suit

    Sportswear company Nike and several of its top executives have urged an Oregon federal judge to toss a proposed class action alleging the company's stock value declined as it continued to mislead investors on the success of a change in sales strategy, saying the suit improperly uses hindsight to claim fraud.

  • May 13, 2025

    Health Co. Elevance Faces Suit Over Post-COVID Costs Claims

    Health insurance provider Elevance Health Inc. and some of its executives face a proposed investor class action alleging the company hurt shareholders by mismanaging expectations about its Medicaid business's costs amid the post-pandemic eligibility redetermination process in certain markets it served.

  • May 13, 2025

    Intel Schemed To Duck $1B In Mobileye Losses, Investors Say

    Intel Corp. used its position as Mobileye Global's controlling shareholder and fiduciary to strategically offload $1.6 billion in stock ahead of an announcement that tanked stock prices, according to a shareholder derivative suit filed Monday in Delaware Chancery Court.

  • May 13, 2025

    Hooters Can Tap Full $40M DIP In Chapter 11

    Restaurant chain Hooters can tap the last $30 million of its $40 million Chapter 11 debtor-in-possession loan after it agreed to escrow disputed royalty revenue to quell a creditor's objection during a Tuesday hearing in a Texas bankruptcy court.

  • May 13, 2025

    SEC Says Ex-Pot Co. CFO Can't Cite Atty Advice As Shield

    The U.S. Securities and Exchange Commission told a New York federal judge that a former executive of cannabis company Acreage Holdings Inc. accused of falsifying the company's financials cannot allege he was relying on advice from attorneys without forgoing the attorney-client privilege that would shield those communications.

  • May 13, 2025

    SEC Inks Judgment In Telecom Execs' Inflated Revenue Suit

    The former CEO and CFO of a bankrupt telecommunications software provider have cut a deal with the U.S. Securities and Exchange Commission that will ban them from ever again serving as head or officer of a public company.

  • May 13, 2025

    Cannabis Water Co. Escapes $10M Fraud Charges With DPA

    A cannabis-infused beverage maker on Tuesday inked a deferred prosecution agreement to resolve charges over its alleged role in a $10 million pump-and-dump scheme, with the deal including compliance provisions but no monetary penalty.

  • May 13, 2025

    Fox Nabs Smartmatic Bribery Probe Docs In Defamation Case

    A New York state appeals court on Tuesday ordered Smartmatic to give Fox News documents related to a federal investigation into allegations that executives of the election systems company bribed officials in the Philippines, ruling the materials are "plainly relevant" to the network's defense against defamation claims.

  • May 13, 2025

    Investment Firm Drops 2 Counts From $70M Client Poach Suit

    Connecticut investment firm TJT Capital Group LLC has agreed to drop a Computer Fraud and Abuse Act count and a common-law trade secrets misappropriation claim from a lawsuit accusing a chief compliance officer of taking $70 million in assets under management with him when he left for a new job.

  • May 13, 2025

    Father-Son Duo Get Prison Terms In $100M Deli Fraud

    A father and son were handed down federal prison sentences on Tuesday for their roles in a scheme that tricked investors into thinking a small, unprofitable Garden State deli was worth $100 million.

  • May 13, 2025

    SEC's Uyeda Encourages Opening 401(k)s To Private Assets

    U.S. Securities and Exchange Commissioner Mark Uyeda said Tuesday that regulators should explore how retirement accounts could expand to include private equity investments, arguing that such a shift would put 401(k) plans on par with pension funds.

  • May 13, 2025

    CFTC Faces Sanctions For 'Bad Faith' Actions In Forex Case

    The U.S. Commodity Futures Trading Commission is staring down sanctions in a case accusing a foreign exchange firm of fraud, with a special master recommending Tuesday that the agency pay the firm's legal fees for acting in bad faith in order to gain a "tactical advantage" in the case.

  • May 13, 2025

    SEC X Account Hack Conspirator Deserves 2 Years, Feds Say

    Federal prosecutors are seeking a two-year sentence for an Alabama man who admitted to his role in last year's hack of the U.S. Securities and Exchange Commission's account on the social platform X to post a bogus development in the agency's cryptocurrency policy, while the man himself said Tuesday that a year and a day should suffice.

  • May 13, 2025

    4 Firms Build Robinhood's $178.9M Canadian Crypto Buy

    Financial services giant Robinhood on Tuesday unveiled plans to acquire Canadian cryptocurrency platform WonderFi Technologies in a CA$250 million ($179 million) take-private deal built by four law firms.

  • May 13, 2025

    DOJ Criminal Division Head Dangles Self-Disclosure 'Carrot'

    The U.S. Department of Justice unveiled a revised corporate enforcement policy Monday that offers companies a "clear path" to avoid criminal resolutions when they voluntarily self-disclose misconduct, a boon for American businesses that further scales back the scope of white collar enforcement under the Trump administration.

  • May 13, 2025

    Feds Nixing Crypto 'Property' Theft Charge Against Brothers

    Prosecutors have told a Manhattan federal judge that they plan to drop a charge of conspiracy to receive stolen property against two Massachusetts Institute of Technology-educated brothers accused of stealing $25 million worth of cryptocurrency, after the defendants pointed to a U.S. Department of Justice memo limiting certain charges involving digital assets.

  • May 13, 2025

    Morgan Lewis Adds Ex-Dechert Registered Funds Pro In NY

    Morgan Lewis & Bockius LLP has added a registered funds specialist who previously served over 20 years with Dechert LLP as a partner in its New York office, the firm announced Tuesday.

  • May 12, 2025

    Bitcoin Miner Investor Sues Over Flawed Financial Reports

    Bitcoin mining company Bitfarms Ltd. faces a proposed investor class action alleging it improperly accounted for certain capital-raising transactions, hurting investors when it announced it would restate its 2022 and 2023 financials.

  • May 12, 2025

    Coinbase Inks $2.25M Deal In Dogecoin Sweepstakes Suit

    Coinbase Inc. and promoter Marden-Kane have agreed to pay $2.25 million to put to rest a proposed class action over a Dogecoin cryptocurrency sweepstakes, a deal that follows a trip to the U.S. Supreme Court, according to a motion filed in California federal court Friday.

  • May 12, 2025

    Eric Trump-Backed Crypto Miner Merges With Gryphon Digital

    A new bitcoin miner backed by President Donald Trump's two eldest sons said Monday that it will go public through an all-stock merger with Gryphon Digital Mining Inc. and will list on the Nasdaq under the ticker symbol ABTC.

  • May 12, 2025

    Instacart Beats Investor Suit Over Pre-IPO Business

    A California federal judge tossed a shareholder class action accusing grocery delivery company Instacart of misrepresenting its potential in the lead-up to its initial public offering, finding, among other things, that the plaintiffs did not sufficiently plead any actionable misleading statements or that the defendants acted with a motive to deceive investors.

  • May 12, 2025

    Chancery Nixes Paramount-Skydance Books Suit Intervention

    Delaware's Chancellor on Monday denied a Paramount Global preferred shareholders' motion to intervene in a New York public pension fund group's suit for documents on Paramount's proposed $8 billion merger with Skydance Media, the latest development in a sprawling, potential post-closing deal challenge.

  • May 12, 2025

    SEC's Atkins Outlines Crypto Policy Plans At Roundtable

    U.S. Securities and Exchange Commission Chairman Paul Atkins told crypto industry participants on Monday that developing rules for digital asset markets would be a "key priority" of his chairmanship during a keynote address that promised to focus the agency's enforcement approach on fraud and manipulation.

Expert Analysis

  • Recent Cases Highlight Latest AI-Related Civil Litigation Risks

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    Ongoing lawsuits in federal district courts reveal potential risks that companies using artificial intelligence may face from civil litigants, including health insurance coverage cases involving contractual and equitable claims, and myriad cases concerning securities disclosure claims, say attorneys at Katten.

  • What Rodney Hood's OCC Stint Could Mean For Banking

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    Acting Comptroller of the Currency Rodney Hood's time at the helm of the OCC, while temporary, is likely to feature clarity for financial institutions navigating regulations, the development of fintech innovation, and clearer expectations for counsel advising on related matters, say attorneys at Vedder Price.

  • Opinion

    We Must Allow Judges To Use Their Independent Judgment

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    As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.

  • 4 Actions For Cos. As SEC Rebrands Cyber Enforcement Units

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    As the U.S. Securities and Exchange Commission signals its changing enforcement priorities by retooling a Biden-era crypto-asset and cybersecurity enforcement unit into a task force against artificial-intelligence-powered hacks and online investing fraud, financial institutions and technology companies should adapt by considering four key points, say attorneys at Troutman.

  • New SEC Guidance May Change How Investors, Cos. Talk

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    The U.S. Securities and Exchange Commission's recent updates to the Schedules 13D and G compliance and disclosure interpretations may mean large institutional investors substantially curtail the feedback they provide companies about their voting intentions in connection with shareholder meetings, which could result in negative voting outcomes for companies, say attorneys at Cleary.

  • 4 Key Payments Trends For White Collar Attys

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    As the payments landscape continues to innovate and the new administration looks to expand the role of digital currency in the American economy, white collar practitioners should be aware of several key issues in this space, say attorneys at Jenner & Block.

  • Series

    Performing Stand-Up Comedy Makes Me A Better Lawyer

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    Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.

  • Series

    Adapting To Private Practice: From SEC To BigLaw

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    As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.

  • What's Old And New In The CFTC's Self-Reporting Advisory

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    Attorneys at Blank Rome analyze the U.S. Commodity Futures Trading Commission's recent advisory that aims to provide clarity on self-reporting violations of the Commodity Exchange Act, and review whether market participants should shift their thinking — or not — when it comes to cooperation with the CFTC.

  • How Trump's Crypto Embrace Is Spurring Enforcement Reset

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    The U.S. Securities and Exchange Commission's recent willingness to step away from ongoing enforcement investigations and actions underscores the changing regulatory landscape for crypto under the new administration, which now appears committed to working with stakeholders to develop a clearer regulatory framework, say attorneys at Sheppard Mullin.

  • Making The Case For Rest In The Legal Profession

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    For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.

  • During Financial Regulatory Uncertainty, Slow Down And Wait

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    Amid the upheaval at the Consumer Financial Protection Bureau and the slowdown in activity at the prudential agencies, banks must exercise patience before adopting strategic and tactical plans, as well as closely monitor legal and regulatory developments concerning all the federal financial regulators, say attorneys at Dorsey.

  • Opinion

    It's Time To Fix The SEC's Pay-To-Play Rule

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    Nearly 15 years after its adoption, the U.S. Securities and Exchange Commission's pay-to-play rule is not working as intended — a notion recently echoed by SEC Commissioner Hester Peirce — and the commission should reconsider the strict liability standard, raise the campaign contribution limits and remove the look-back provision, say attorneys at WilmerHale.

  • 4 Ways Women Attorneys Can Build A Legal Legacy

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    This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.

  • Why A Rare SEC Dismissal May Not Reflect A New Approach

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    While the U.S. Securities and Exchange Commission's pending dismissal of its case against Silver Point is remarkable to the extent that it reflects a novel repudiation of a decision made during the prior commission, a deeper look suggests it may not represent a shift in policy approach, say attorneys at Weil.

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