The owner of cannabis industry magazine High Times said Tuesday it will offer discounted shares to fans ahead of a miniature-style initial public offering that could raise up to $50 million, with the company using the Reg A+ program that imposes lighter regulations than a full-blown IPO.
Keurig Green Mountain Inc. has agreed to pay $36.5 million to settle a securities fraud suit that accused the company and two executives of misleading shareholders about sales and revenue expectations in 2011, according to papers filed Tuesday in Vermont federal court.
Debevoise & Plimpton LLP has bolstered its banking group with a regulatory lawyer from Cadwalader Wickersham & Taft LLP who counseled the International Swaps and Derivatives Association when it rolled out compliance tools for companies to use in the wake of Dodd-Frank, the firm has announced.
The U.S. Securities and Exchange Commission accused a Bronxville businessman of manipulating microcap company Plandai Biotechnology Inc.’s stock price in a scheme that netted him more than $11.5 million in illicit stock sale proceeds, according to a lawsuit filed in New York federal court on Monday.
U.S. Citizenship and Immigration Services does not anticipate taking final action on a set of proposed modifications to the controversial EB-5 Immigrant Investor Program before authorization for its regional centers expires in late September, Director L. Francis Cissna told the Senate Judiciary Committee on Tuesday.
In this monthly series, legal recruiters at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Mia Stutzman, chief financial officer at Holland & Knight LLP.
Arent Fox LLP has lured a white collar duo from Dentons with more than 12 years of experience to join the government enforcement arena in the firm's New York office.
The jury should take “huge care” when assessing the Serious Fraud Office’s case against four former Barclays PLC traders and a Deutsche Bank trader for alleged Euribor rigging, one of the defendants’ lawyers said Tuesday during her closing, arguing the agency has given a “misleading” and unbalanced picture.
A Brooklyn federal judge warned prosecutors Monday to scrutinize a cooperating witness in their case against two men who allegedly traded on draft corporate press releases that were pinched by Ukrainian hackers after the cooperator admitted on the stand to deceiving the government.
Brooklyn federal prosecutors sought to counter a bid by former Katten Muchin Rosenman LLP attorney Evan Greebel to reduce his potential sentence for fraud conspiracy on Monday, asking an expert witness questions that seemed meant to diminish his testimony on legal issues faced by life sciences startups.
A suit alleging that controlling investors of Hansen Medical Inc. pushed through a squeeze-out merger and secured benefits for themselves at the expense of a putative class of minority holders survived a motion to dismiss Monday in Delaware Chancery Court.
Following an American Bar Association pledge, in-house attorneys are taking a harder line in demanding diversity from their outside counsel, and they're seeking to play a larger role in the workings of the law firms they hire.
We asked BigLaw for data on female minority lawyers for the first time this year, and the results show an industry that is failing to attract and retain them. Here’s a look at the challenges facing these attorneys — and how a few firms are defying the norm.
The legal industry is making sluggish gains when it comes to attracting and retaining attorneys of color, but this select group of firms is taking broader strides to diversify at the top.
A California federal judge on Monday laid into the U.S. Department of Justice, suggesting it was wasting resources by requesting a jury trial for a former Barclays PLC trader charged with scheming to defraud Hewlett-Packard Co. in a £6 billion options transaction, after the defendant said he’d prefer a bench trial.
Two former Linkwell Corp. executives can’t claim they complied with state law and followed the advice of Sidley Austin LLP while keeping communications that support those assertions cloaked by attorney-client privilege, an investor told a Florida federal court Monday.
National Amusements Inc. and its controller Shari Redstone pushed their case Monday for a stay of litigation in a lawsuit brought by shareholders of CBS Corp. in the Delaware Chancery Court in favor of a parallel proceeding that will resolve issues over a special stock dividend approved by the CBS board aimed at diluting her control.
UBS AG units on Monday urged the First Circuit to revive its bid for $20 million in coverage for costs associated with claims that investors lost billions of dollars because UBS manipulated Puerto Rico's municipal debt bond market, arguing that the claims are not sufficiently similar to previously filed actions to trigger a policy exclusion.
The U.S. Supreme Court on Monday denied a last-ditch attempt by creditors of Momentive Performance Materials Inc. to collect on $200 million in fees tied to bonds repaid in bankruptcy, ignoring their argument that allowing the silicone manufacturer to keep the money contradicts “bedrock principles” of bankruptcy law.
A Manhattan bankruptcy judge has approved the restructuring plan of troubled Brazilian telecommunications company Oi SA, clearing the way for a $20 billion debt-for-equity swap to take the company out of bankruptcy.
The first quarter of 2018 was above average in terms of Foreign Corrupt Practices Act investigations closed by U.S. regulators without enforcement. But the government may return to more assertive enforcement in the future — and companies and individuals may still face liability long after the "completion" of any misconduct, says Collmann Griffin of Miller & Chevalier Chtd.
Because the U.S. Department of Homeland Security's E-Verify program is frequently overlooked and misunderstood, immigration compliance issues have become more common in mergers and acquisitions and a basis of post-closing claims, such as those alleged in Post Holdings v. NPE Seller Rep, currently pending in the Delaware Chancery Court, say Christine Fuqua Gay and Ashley Hamilton of Holland & Knight LLP.
Enforcement of the Foreign Corrupt Practices Act was relatively slow during the first quarter of 2018, with only three fairly low-value corporate enforcement actions announced between January and March of the year. But the announced second quarter settlements and likely future dispositions suggest that 2018 still may be an active year overall for FCPA enforcement, says Collmann Griffin of Miller & Chevalier Chtd.
As the U.S. Securities and Exchange Commission considers raising the standard of conduct applicable to investment advisers with respect to their retail clients, it should also consider loosening the restrictions that inhibit retail investors from gaining access to privately placed securities and other alternative investments, say Dina Ellis Rochkind and Joshua Downer of Paul Hastings LLP.
One year ago, the U.S. Supreme Court ruled in Kokesh that the U.S. Securities and Exchange Commission’s disgorgement remedy is subject to a five-year statute of limitations. This has had a quantifiable effect on the agency’s enforcement program, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
Despite the partiality some courts have shown to live video testimony, it provides no advantages — and several disadvantages — over the tried-and-true method of videotaped depositions, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
"Uncivil Warriors: The Lawyers' Civil War," by Peter Hoffer, is a new book about the involvement of lawyers on both sides in the American Civil War. The discussion is enlightening and often fascinating, but falls short in several key areas, says Federal Circuit Judge Evan Wallach.
While the U.S. Supreme Court’s decision in Merit Management v. FTI Consulting seemingly narrowed the reach of the Section 546(e) safe harbor, it did little to change the landscape for the multibillion-dollar U.S. structured finance industry, including warehouse lending structures, say J.R. Smith and Shannon Daily of Hunton Andrews Kurth LLP.
It should come as no surprise that state securities administrators have boosted their cryptocurrency enforcement efforts. Because while cryptocurrency promoters can find easy prey in today’s excitable retail investor marketplace, initial coin offerings and digital trading platforms are also easy to surveil and easy to charge, says John Reed Stark of John Reed Stark Consulting LLC.
Connecting with potential prospects is now more challenging due to the EU General Data Protection Regulation, meaning that law firm microsites, blogs and social media will become more valuable than ever. The firms that deploy them strategically will increase their relative visibility and accelerate the rebuilding of their opt-in distribution lists, says Stephan Roussan of ICVM Group.