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Securities

  • October 16, 2018

    Investor Can't Overturn Yukos' Buyer's Bankruptcy Plan

    A New York federal judge has upheld the bankruptcy reorganization of a Luxembourg-based entity created to acquire the financial services arm of former Russian oil giant Yukos Oil Co., saying a minority investor waived his right to challenge the corporate overhaul that wrested away any say he might have in the entity.

  • October 16, 2018

    Sinovac Investor Can't Halt Share Issue In Board Dispute

    A federal judge declined to impose a stock injunction against Chinese biopharmaceutical firm Sinovac on Monday after a Massachusetts family and its private equity arm had argued the company was unlawfully issuing private placement shares to prevent a takeover of its board on the island of Antigua.

  • October 16, 2018

    Robotic Tech Co. Defends Internal Controls In Fraud Suit

    A robotic technology company has asked a California federal judge to dismiss a proposed class action alleging it defrauded investors by assuring them that internal controls over financial reporting were effective, when an outside auditor later determined they were not.

  • October 16, 2018

    Madoff Pal Asks To Quash Bid For JPM Docs In Clawback Suit

    A longtime friend of Bernie Madoff accused of receiving $54 million while turning a blind eye toward Madoff’s Ponzi scheme has moved to block a subpoena of his mortgage loan file at JPMorgan by a trustee seeking money for Madoff’s victims, saying in New York federal court that the file is not relevant to the accusations against him.

  • October 16, 2018

    The Path To Becoming A Supreme Court Advocate

    A look at the careers of attorneys who have dominated oral advocacy at the U.S. Supreme Court over the last decade shows a similar path for men and women, with a few key differences. Here’s how the top 10 male and female advocates stack up.

  • October 16, 2018

    Convicted State Street Exec Gets Lenient 18 Months

    A former State Street Corp. executive was sentenced to 18 months in federal prison Tuesday for stealing millions from clients by sneaking in undisclosed fees on massive transactions, a more lenient ruling than the five-year sentence prosecutors had requested.

  • October 16, 2018

    Greenspoon Marder Adds Atty For NY Cannabis Tax Practice

    Greenspoon Marder LLP is expanding its New York tax practice by adding a partner experienced in general corporate and real estate tax to help the firm with its new cannabis practice.

  • October 16, 2018

    $20M SEC Settlements For Musk, Tesla Approved By Judge

    A New York federal judge on Tuesday signed off on a pair of settlements that will see Tesla Inc. and its embattled CEO Elon Musk pay the U.S. Securities and Exchange Commission $20 million apiece to end claims that Musk misled investors in tweets about taking the Silicon Valley-based electric car maker private.

  • October 16, 2018

    Nomura Reaches $480M Deal Ending RMBS Probe

    Nomura Holding America Inc. and its affiliates have agreed to pay $480 million to resolve the U.S. Department of Justice’s allegations that the bank misled investors about risks associated with more than $13 billion worth of loans packaged into residential mortgage-backed securities between 2006 and 2007, the DOJ said Tuesday.

  • October 15, 2018

    Labaton State Street Atty Fee Accord Not Yet A Done Deal

    A proposed settlement between Labaton Sucharow LLP and the special master appointed to investigate alleged improprieties in a $75 million attorneys' fee award in the State Street Corp. swindling case was met with some resistance from the judge presiding over the case and fellow co-counsel during a hearing Monday in a Boston federal courthouse.

  • October 15, 2018

    Deutsche Traders Knew Libor-Rigging Was Illicit, Jury Told

    Prosecutors on Monday began their final pitch to jurors in the Libor-rigging trial of former Deutsche Bank traders Matthew Connolly and Gavin Black, saying trial evidence proves the pair abused the German lender’s position to cash in by gaming the benchmark interest rate.

  • October 15, 2018

    Nine West Creditors Ask To Sue Sycamore For LBO Losses

    The unsecured creditors of Nine West Holdings Inc. on Saturday asked a New York bankruptcy court for permission to file more than $1 billion in claims against company owner Sycamore Partners for allegedly stripping the company’s assets and sending it into Chapter 11.

  • October 15, 2018

    Gender Disparity At The High Court: How Top Law Firms Measure Up

    For the women at elite law firms, an enduring gender gap among advocates can create a high hurdle for their high court ambitions. Here, Law360 looks at the law firms where women score Supreme Court arguments, and where they don’t.

  • October 15, 2018

    Google Sued For Not Telling Investors About March Data Leak

    Google's failure to disclose in at least two federal securities filings a March data leak that came to light last week deceived the investing public and caused the tech giant's shares to be traded at artificially inflated prices for months, according to a proposed shareholder class action filed in California federal court. 

  • October 15, 2018

    Scott & Scott Loses Bid To Be Lead In Funko Investor Suit

    A Washington federal judge on Monday denied an investor’s lead plaintiff motion asking for Scott & Scott Attorneys at Law LLP to be appointed lead counsel in a proposed class action against toymaker Funko, saying the current plaintiff did not publish proper notice of the suit.

  • October 15, 2018

    2nd Circ. Seems Skeptical Of Tilton Bid For D&O Insurance

    A Second Circuit panel didn’t seem convinced by businesswoman Lynn Tilton's company that Axis Insurance Co. should be made to cover up to $5 million in legal fees incurred during a Securities and Exchange Commission investigation, expressing skepticism at how Patriarch Partners LLC interpreted its directors and officers insurance policy.

  • October 15, 2018

    Hartford's $2B Navigators Buy Draws Del. Disclosure Suit

    A shareholder of The Navigators Group Inc. alleges in a Delaware federal court suit filed Monday that the insurance company and its directors omitted important information from a proxy statement detailing The Hartford Financial Services Group Inc.'s $2.1 billion acquisition of the firm.

  • October 15, 2018

    Cohen Milstein Seeks $2.9M In Fees In $17M Opus Bank Deal

    Lead counsel for an investor that reached a $17 million settlement with Opus Bank over claims it misled investors about the quality of its loans has asked a California federal judge for a fee award of $2.89 million, more than $1 million less than the maximum amount the Cohen Milstein Sellers & Toll PLLC attorneys previously said they would seek.

  • October 15, 2018

    Fla. Asset Manager Denies Propping Up Fake Hedge Fund

    A Miami-based asset manager denied charges Monday in New York federal court that he handed a $2 million investment from an Alabama couple to a hedge fund he knew to be peddling false promises and ultimately kept most of their money for himself.

  • October 15, 2018

    $4.8B Akorn Ruling More Outlier Than Shift At Chancery

    An unprecedented Delaware Chancery Court finding that Fresenius Kabi AG can terminate a $4.8 billion merger with Akorn Inc. earlier this month appears to be more of a deal outlier than a change in court direction on merger-killing adverse event clauses, some attorneys say.

Expert Analysis

  • US' Secondary China Sanctions Signal New Risks For Cos.

    Ama Adams

    Last week, the U.S. government imposed broad sanctions on a component of the Chinese military — the first time that the U.S. has exercised its authority to impose secondary sanctions against non-U.S. parties for transactions occurring outside of the United States. This signals an era of expanded risks for U.S. and non-U.S. companies alike, say attorneys at Ropes & Gray LLP.

  • 5 More GC Tips For Succeeding As A New Associate

    Jason Idilbi

    Jason Idilbi, former BigLaw associate and general counsel of the tech startup Passport Labs Inc., returns to Law360 to share recent thoughts on best practices for newer associates — whether they are serving external clients or senior attorneys within their firms.

  • 2 New Cases Showcase CFTC Spoofing Theories

    Katherine Cooper

    The Victory Asset and Mizuho Bank spoofing settlements announced by the U.S. Commodity Futures Trading Commission last week show that the agency’s campaign against spoofing continues unabated. It is likely that the CFTC will now place more emphasis on the surveillance and control systems employed by futures commission merchants, say Katherine Cooper and Elizabeth Lan Davis of Murphy & McGonigle PC.

  • 3rd Circ. Deepens Uncertainty Over FINRA Arbitration

    David Cinotti

    The Third Circuit's decision last month in Reading Health System v. Bear Stearns adds to a circuit split on whether a contractual forum-selection clause supersedes or waives Financial Industry Regulatory Authority arbitration. However, U.S. Supreme Court review of the issue might be premature, says David Cinotti of Pashman Stein Walder Hayden PC.

  • Series

    Judging A Book: Block Reviews 'Tough Cases'

    Judge Frederic Block

    In a new, extraordinary book, "Tough Cases: Judges Tell the Stories of Some of the Hardest Decisions They’ve Ever Made," 13 of my judicial brethren have courageously and dramatically humanized the judicial process, says U.S. District Judge Frederic Block of the Eastern District of New York.

  • How US Class Actions Take Off To The 'Great White North'

    Jean-Marc Leclerc

    For relatively little added investment, it is possible for U.S. class action attorneys to partner with a Canadian firm to start a parallel case in Canada. Jean-Marc Leclerc of Sotos LLP compares class actions in Canada and the U.S., discusses cases where a parallel action should be considered, and addresses fee arrangements.

  • Opinion

    SEC Must Resolve Fundamental Issue With In-House Court

    Thomas Gorman

    When the U.S. Securities and Exchange Commission began shifting its enforcement actions from federal district court to its in-house forum, the bedrock question was that of fundamental fairness. To say that Raymond Lucia and others who litigated for years to bring fairness to the process got far less than they bargained for is perhaps the ultimate understatement, says Thomas Gorman of Dorsey & Whitney LLP.

  • 8 Innovative Ways To Empower Jurors

    Christopher Campbell

    Much time and attention have been focused on improving lawyers' abilities to communicate with and persuade juries in complex trials. But it is equally important to equip and prepare jurors to become better students in the courtroom, say attorneys with DLA Piper and Litstrat Inc.

  • Cloud Computing Clearly The Future For Small Firms

    Holly Urban

    While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.

  • Signs Of Renewed SEC Interest In Key Performance Indicators

    Brooke Clarkson

    Key performance indicators have been a topic of concern for the U.S. Securities and Exchange Commission for some time, but enforcement actions have been less prevalent. Recent actions coupled with statements by commission officials, however, suggest that KPIs may become more of a focus for the current SEC, say Brooke Clarkson and Jessica Matelis of Foley & Lardner LLP.