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  • December 10, 2018

    Best Buy Investors Fight To Keep Stock-Drop Suit Alive

    Best Buy investors challenged the electronics retailer's bid to win their stock-drop class action in Minnesota federal court Friday, arguing its sole grounds for summary judgment is the shareholders' alleged inability to prove reliance on misleading information, yet the investors have been prevented from presenting new evidence to that effect.

  • December 10, 2018

    Ex-Director Of Health Care Co. Charged In Stock Fraud Plot

    A former director of bankrupt Constellation Healthcare Technologies Inc. has been arrested on charges of taking part in a scheme to inflate the value of the Houston-based medical billing business to more than $300 million as part of a bid to take the company private, authorities announced Monday.

  • December 10, 2018

    Fla. Atty Guilty Of Laundering, Fraud In 'Shell Factory' Ring

    A Florida lawyer accused of helping make 20 fraudulent shell companies look legit was convicted Friday in federal court on 33 counts, including money laundering, securities fraud and wire fraud.

  • December 10, 2018

    Ex-ConvergEx Exec Gets 1 Day In Prison

    A former ConvergEx Group LLC executive who fought fraud charges related to hidden profits in client trades was sentenced in New Jersey federal court to one day in prison Monday, ending the case that almost saw a ruling on whether the company's counsel was a part of the prosecution team.

  • December 10, 2018

    Investor Says PDC Energy's Board Ignored Enviro Laws

    A stockholder filed a derivative suit against oil and gas company PDC Energy Inc.'s board in Delaware Chancery Court, claiming that certain directors disregarded environmental regulations and laws, resulting in the company having to settle a federal lawsuit and remediate emission control systems for roughly $22 million.

  • December 10, 2018

    Tishman, Lehman Wins Upheld In Archstone Buyout Row

    Lehman Brothers and Tishman Speyer are off the hook yet again in a sprawling lawsuit sparked by their ill-fated purchase of real estate investment trust Archstone-Smith for $22 billion, after the Tenth Circuit affirmed a lower court's order that shut down the 10-year-long investor class action.

  • December 10, 2018

    Couple Seeks 9th Circ. Redo On $35M EB-5 Fraud Judgment

    The Ninth Circuit should rehear a case in which a panel affirmed a nearly $35 million judgment against a husband and wife who bilked investors out of millions in an EB-5 visa scheme related to a cancer treatment center they never built, as the court did not properly consider inflation and the value of a green card, the couple argued Friday.

  • December 7, 2018

    Judge Favors Spector Roseman To Lead Stock Drop Suit

    A Florida federal magistrate judge recommended Thursday that Spector Roseman & Kodroff PC be named lead counsel in an investor class action alleging misleading statements by health care administration company Mednax led to drops in its stock price, after choosing the Northern Ireland Local Government Officers' Superannuation Committee in a contest to be lead plaintiff.

  • December 7, 2018

    Investor Seeks Records In Case Against Chinese Music Giant

    An early investor in Chinese music streaming service Tencent Music who claims he was cheated out of an equity stake in the company has asked a New York federal judge to allow him to collect evidence from several U.S. banks for a pending arbitration in China.

  • December 7, 2018

    Student Loan Co. CEO Arrested On Charges Of $28M Fraud

    A California financial services executive was arrested while trying to board a flight out of the country and charged with wire fraud for allegedly running a phony student loan debt relief scheme, the U.S. Department of Justice announced in a statement issued Thursday.

  • December 7, 2018

    2 Firms Nab Lead In 'Channel-Stuffing' Derivative Suits

    Robbins Arroyo LLP and Kessler Topaz Meltzer & Check LLP have been appointed co-lead counsel in Georgia federal court for three consolidated derivative suits accusing executives of a biotechnology company of submitting bogus purchase orders to the Veterans’ Administration to artificially increase its revenue in a “channel-stuffing” scheme.

  • December 7, 2018

    Aegean Marine Announces Tentative Creditor Settlement

    Counsel for Greek marine refueling company Aegean Marine Petroleum Network Inc. told a New York bankruptcy court on Friday that the debtor had reached a tentative global settlement with its unsecured creditors, putting off what was expected to be a contentious hearing on several objections lodged by those creditors.

  • December 7, 2018

    FINRA Exams Suggest Work To Be Done Tailoring Trades

    The Financial Industry Regulatory Authority said Friday in a report telling firms where to focus compliance efforts in the coming year that its market watchdogs continue to see brokers make investment recommendations that are not based on customers’ financial situations or whether they can afford mounting fees.

  • December 7, 2018

    Chinese Cos. Eluding US Scrutiny, Hurting Investors: SEC

    Wall Street regulators issued an unusually strong rebuke Friday of their counterparts in China for continuing to shield reports that could indicate whether public companies based there are playing fairly in U.S. exchanges.

  • December 7, 2018

    Execs Urge No Or Little Prison In $200M Del. Bank Fraud Case

    Four Wilmington Trust executives found guilty in a nearly $200 million federal securities fraud case in May have appealed for no, or little, prison time instead of the up to nine- and 11 ¼-year recommendations issued by prosecutors, according to documents made public on Friday.

  • December 7, 2018

    Authentix Shareholders Challenge Nixed Appraisal Rights

    Shareholders of trade security firm Authentix Inc. contended Friday the Delaware Chancery Court wrongly determined they waived their rights to an appraisal following a private equity takeover, arguing a Delaware corporation cannot use a shareholder agreement to strip rights protected by state law.

  • December 7, 2018

    2nd Circ. Asked To Hear Appeal Of $300M Fees In Forex Deal

    The Second Circuit has been asked to hear an appeal of a New York federal court ruling awarding more than $300 million in attorneys' fees to the firms representing an investor class in securing $2.3 billion in settlements over claims 15 banks plotted to rig benchmark exchange rates in the foreign exchange markets.

  • December 7, 2018

    Colo. Atty Gets 2 More Years For Hiding Cash From Gov't

    A former Denver attorney already serving three years in prison for her role in a $19 million pump-and-dump scheme was resentenced in Connecticut federal court Friday to two more years in jail after hiding cash in a storage locker in an attempt to avoid paying restitution, the U.S. Department of Justice said.

  • December 7, 2018

    Impax Says Investors' Drug Price-Fixing Suit Still Fails

    Impax Laboratories has asked a California federal judge to again quash investors' attempt to revive claims that the generic-drug manufacturer hid news of a federal investigation into whether it was colluding with its competitors to fix the prices of two generic drugs, saying the latest complaint still misses the mark.

  • December 7, 2018

    Bank Slams Bid To Shelter Owner In Jay Peak Fraud Case

    People's United Financial Inc. asked a Florida federal judge Thursday to deny a receiver's bid to protect Ariel Quiros, allegedly the architect of a $350 million EB-5 visa fraud scheme involving Vermont ski resort Jay Peak, saying there is no legal basis to reward Quiros by sheltering him from further claims.

Expert Analysis

  • The SEC's Latest Statement On Digital Assets

    Michael Krimminger

    Despite a recent joint announcement by three U.S. Securities and Exchange Commission divisions, several key questions about the commission’s view on cryptocurrencies and initial coin offerings remain unsettled, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Q&A

    BigLaw Alums Q&A: Mark Migdal's Lara O'Donnell Grillo

    Lara O’Donnell Grillo

    BigLaw firms tended to be inflexible, with methods that were inconsistent with how I wanted to practice law. There were many time-wasting aspects of the practice, says Lara O’Donnell Grillo of Mark Migdal & Hayden.

  • A Series Of Avoidable Missteps In PLX Sale

    Gail Weinstein

    It takes an extraordinary series of mistakes for a stockholder or a banker to be found to have aided and abetted a board’s fiduciary breaches. The Delaware Chancery Court's decision last month in a shareholder suit following PLX Technology's acquisition illustrates the errors and how they can be readily avoided, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Emerging Cybersecurity Threats In The Legal Industry

    Michael Hall

    Predicting how the cybersecurity landscape will develop is critical for any organization wanting to mitigate the risk of the inevitable future attack. Michael Hall of HighQ Solutions Ltd. discusses five threats to look out for in the next 12 months.

  • The Legacy Of Madoff, A Decade Later

    Mark Kornfeld

    Despite lessons from Bernie Madoff's Ponzi scheme that was revealed 10 years ago, financial fraud continues to thrive. Negative history repeats itself on what seems like a daily basis, say attorneys with Quarles & Brady LLP.

  • Rise Of The CMOs


    Joshua Peck, incoming marketing director of Hill Wallack LLP, traces the evolution of the chief marketing officer position at law firms and shares insights from three legal marketing pioneers.

  • Spoofing Charges Don't Readily Translate To Private Actions

    Laura Brookover

    Private plaintiffs have filed putative class actions in Chicago and New York on the heels of government enforcement efforts against spoofing. But actions like these are largely untested, and two threshold hurdles for these new cases are apparent, says Laura Brookover of Covington & Burling LLP.

  • 10 Pitfalls For Shareholder Derivative Litigants

    Bryan Ketroser

    The shareholder derivative action is riddled with traps for the unwary. Time and again, I have seen litigators represent both nominal and individual defendants, only to get caught flat-footed when the conflict and case law are pointed out to them, says Bryan Ketroser of Alto Litigation PC.

  • Why Midterms Will Have Little Effect On Audit Regulation

    Robert Cox

    The 2018 midterm elections will cause big shake-ups in the House Financial Services Committee and the Senate Banking, Housing and Urban Affairs Committee. However, new audit regulations will likely be driven by the Public Company Accounting Oversight Board and not by Congress, says Robert Cox of Briglia Hundley PC.

  • Q&A

    A Chat With Bryan Cave Innovation Chief Katie DeBord

    Katie DeBord

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Katie DeBord, chief innovation officer at Bryan Cave Leighton Paisner LLP.