Financial publisher Euromoney Institutional Investor PLC confirmed Tuesday that its paper and packaging price reporting unit had been raided by the European Commission amid its antitrust probe of the industrial paper market.
A Massachusetts federal judge on Friday preliminarily approved Avid Technology Inc.’s $1.3 million settlement resolving a securities fraud class action over the rollout of one of its products after both sides in the suit agreed to tweak the deal in response to concerns from the judge.
Chipmaker Advanced Micro Devices Inc. downplayed its vulnerability to a recently revealed security flaw dubbed Spectre, causing shares to drop when the company disclosed the true extent of its chips' susceptibility, says a proposed class action filed in California federal court Tuesday.
ExxonMobil told a judge Friday it has made its case that climate change probes launched by the attorneys general of New York and Massachusetts violate its free speech rights, documenting meetings between New York Attorney General Eric Schneiderman and climate activists to bolster its argument.
Federal courts saw more securities cases filed in 2017 than at any time since the financial crisis ended in 2009, with the number of new suits spiking more than 50 percent above the volume of 2016, according to a report from Lex Machina.
Law360 congratulates the winners of its 2017 Practice Group of the Year awards, which honor the law firms behind the litigation wins and major deals that resonated throughout the legal industry in the past year.
Law360’s Firms of the Year rose above the competition with a combined 24 Practice Group of the Year awards after helping their clients win game-changing judgments and close record-breaking deals in 2017. Here’s a closer look at how they landed at the top.
A New York federal judge on Friday refused pleas from banks and mortgage companies to scale back his order allowing costly subpoenas for loan documents to go forward in a U.S. Department of Justice civil action against Barclays PLC over $31 billion worth of toxic residential mortgage-backed securities, saying it’s the cost of doing business.
The Commodity Futures Trading Commission filed suit and obtained an immediate restraining order Friday against Blue Guru Trading LLC and two of its principals for alleged fraud and misappropriation in obtaining some $750,000 in investments for a supposed futures pool.
Facing a federal securities and Ponzi scheme lawsuit in Florida and demands for a trustee takeover in Delaware bankruptcy court, the Woodbridge Group said Friday that it would shift from reliance on individual investors to institutional financing for its real estate development business.
A Miami federal judge Friday handed a five-year prison sentence to a former Bankrate Inc. vice president of finance who admitted he schemed to lie about the rate-shopping company’s finances after he asked for leniency, citing his plan to testify against his former boss at an upcoming trial.
Valeant Pharmaceuticals has sued an AIG unit and other insurers, seeking coverage of its costs to defend lawsuits accusing it of orchestrating an insider trading scheme in connection with its attempted $55 billion takeover of Allergan and of fraudulently inflating its stock price, court documents filed Friday in New Jersey federal court show.
A New Jersey federal judge on Friday refused to dismiss the bulk of claims lodged in two sets of securities suits against Valeant Pharmaceuticals International Inc., ruling, among other things, that investors’ allegations of fraud and other violations met specificity requirements of the relevant laws.
The Second Circuit on Friday reversed a lower court decision certifying a class of shareholders accusing Goldman Sachs of lying about its ethical compliance just before they lost $1 billion in the Abacus collateralized debt obligation, saying the earlier ruling may have held Goldman to a standard of proof that was too high.
Reorganized debtor Paragon Offshore PLC asked a Delaware judge late Thursday to impose sanctions on a former shareholder of the company for filing motions making the same arguments that have been repeatedly denied by the court and causing the company to incur legal fees.
A Chinese investor who was allegedly defrauded of $1.5 million as part of an investment scheme exploiting her desire to obtain U.S. residency through U.S. Citizenship and Immigration Services’ EB-5 visa program settled her suit Thursday.
Three dozen investors have launched a more than $40 million lawsuit in New Jersey state court alleging that their money was used to repay other investors as part of a Ponzi scheme carried out by a fund administration firm and an investment manager who is facing related criminal charges.
One-half of a two-person team that allegedly pumped and then dumped for $1.6 million a waste-processing company's penny stock was sentenced Thursday to two years, according to court records.
Golf course developer, big-money sports gambler and convicted insider trader Billy Walters told the Second Circuit on Thursday that rampant misconduct by investigators building the case against him necessitates a post-hoc dismissal of the charges.
Two shareholders in behavioral health outcome assessment firm Outcome Referrals Inc. filed suit late Thursday in Delaware Chancery Court, seeking inspection of the company’s books and records to investigate alleged self-dealing by its president and controlling shareholder.
The U.S. Securities and Exchange Commission will grapple with a great deal of unfinished business this year. In fact, these issues will dwarf the natural changes that the SEC will undergo as it continues to transition to new leadership, says Britt Biles of Stein Mitchell Cipollone Beato & Missner LLP.
Jay Greenberg and Max Volsky, co-founders of litigation finance platform LexShares Inc., analyze emerging trends based on conversations with their investors and executives in this rapidly evolving sector.
The past year did not deliver the massive amount of commercial mortgage-backed securities refinancings predicted by many at the end of 2016. Stuart Goldstein and Gregory Prindle of Cadwalader Wickersham & Taft LLP review what happened in 2017 and look ahead to what the industry might see in 2018.
The Delaware Supreme Court’s recent appraisal decision in Dell v. Magnetar Global provides the strongest support yet for the concept of deferring to the merger price as the best evidence of appraisal value, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
Study of the Enneagram personality typing system can provide attorneys with better insights into themselves, and into those they interact with professionally, including clients, opposing counsel and judges, says Jennifer Gibbs of Zelle LLP.
The Delaware Supreme Court's decision last month in Investor Bancorp may result in challenges to director compensation awarded pursuant to existing discretionary equity plans and is likely to affect the structure of future equity plans, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
The U.S. Securities and Exchange Commission's recent order against Munchee provides us with some guidance that goes beyond the SEC's July report that addressed initial coin offerings. Specifically, issuers must be extremely attentive to how their tokens are being marketed, says Joel Telpner of Sullivan & Worcester LLP.
John Greenya’s new book, “Gorsuch: The Judge Who Speaks for Himself,” offers readers something the confirmation hearings did not — the backstory of Neil Gorsuch and a glimpse of who Justice Gorsuch is, says Chief Judge Timothy Tymkovich of the Tenth Circuit.
A New Jersey federal court's recent decision in U.S. Securities and Exchange Commission v. Gentile has opened the door to the possibility that Section 2462's five-year statute of limitations serves as a complete defense to an SEC enforcement action, say Joseph Dever and Matthew Elkin of Cozen O’Connor.
For the first time since 2015, the SEC will be operating with a full slate of five commissioners, which will bring a wider variety of views and perspectives to the agency. Chairman Jay Clayton has also moved with deliberate speed to appoint a cast of competent and talented senior staff, says David Tittsworth of Ropes & Gray LLP.