The U.S. Supreme Court is asking the U.S. solicitor general to weigh in on the Ninth Circuit's revival of a suit alleging that misstatements made by Toshiba Corp. tanked the price of domestic securities linked to the company's common stock in Japan, a decision that arguably splits with a previous Second Circuit holding.
Law360's top four Firms of the Year notched a combined 32 Practice Group of the Year awards after successfully securing wins in bet-the-company matters and closing high-profile, big-ticket deals for clients throughout 2018.
Law360 congratulates the winners of its 2018 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.
Michael Coscia, the first person to be convicted of spoofing the commodities markets, asked an Illinois federal judge for a retrial, saying on Thursday that prosecutors showed the jury misleading evidence based on an incomplete set of trading data.
A Louisville Bedding Co. shareholder class won Chancery Court approval Friday for a $2.1 million settlement of claims that a management-led group took remnants of the business private for an unfair price after first amassing millions in cash through the sale of most company assets.
Excitement for stock sales and acquisitions was somewhat restrained at this year’s JPMorgan’s health care conference, according to several attorneys who attended the event in San Francisco that concluded Thursday, given uncertainties caused by market volatility and the government shutdown.
Investment adviser FrontFour Capital Group LLC filed a complaint Friday in Delaware Chancery Court against Medley Capital Corporation in an effort to investigate possible corporate wrongdoing in connection with a proposed merger involving two other asset management businesses, claiming the proposed transaction does not maximize value for MCC stockholders.
Several executives from Google Inc. parent Alphabet Inc., including its chief legal officer, were hit with another lawsuit from a shareholder in California state court Thursday, claiming that covered-up sexual misconduct has hurt the company’s value.
One of two men who were convicted of trading stocks based on information gleaned from early copies of financial press releases stolen and passed along by Ukrainian hackers was sentenced to four years in prison by a Brooklyn federal judge on Friday.
Alibaba Group received preliminary approval in California state court Friday for a $75 million settlement that will resolve investors’ claims over allegedly false statements and omissions made in regulatory filings for the Chinese e-commerce company’s September 2014 initial public offering.
As the partial shutdown of the federal government continues with no end in sight, attorneys will have to handle mergers and acquisitions without the guidance of regulatory institutions while also being prepared to answer client questions on how the shutdown could affect their deals.
Industrial equipment manufacturer Cemtrex Inc. has agreed to stop its use of a stock promoter and to institute several corporate governance reforms to resolve a pair of derivative actions and a New York state court suit accusing the company of misconduct that caused stock values to plummet.
A proposed class of cryptocurrency buyers suing Coinbase Inc. over its rollout of bitcoin cash urged a California federal judge Thursday to block the company and a pair of executives from escaping their claims, saying the allegations of negligence and fraud in its complaint are clearly spelled out.
Parties to a Delaware derivative action over data breaches at Yahoo filed a stipulation of dismissal Friday in the state’s chancery court, saying a settlement in a similar California suit resolved the claims here.
The Delaware Supreme Court in a mandated order released Friday upheld a disputed Chancery Court decision that awarded $220,000 in fees to attorneys for investors who filed a derivative suit that settled last year alleging a stock-pumping scheme by managers for biopharmaceutical company CytRx Corp.
Forty-three Chinese companies publicly listed in the U.S. in 2018, including Tencent Music Entertainment Group, state-run outlet Xinhua News Agency reported Friday, even after Hong Kong overhauled a number of rules in an effort to score some offerings of its own.
Reed Smith LLP invited the Second Circuit on Friday to allow it to pursue a $6.75 million tort claim in state court against Wohl & Fruchter over a $27 million securities fraud class action fee award, despite a Manhattan federal judge's order exercising "exclusive jurisdiction" over the matter.
The Brooklyn federal judge overseeing the upcoming trial against several men accused of defrauding investors in the hedge fund Platinum Partners indicated Friday that he was rethinking his decision to bar prosecutors from saying investors lost $1 billion, saying he was “having second thoughts" with his ruling and that he hoped to find "middle ground."
A California business must fork over $23.9 million for its involvement in an EB-5 investment fraud scheme, a federal judge ruled Thursday, holding the business and a San Francisco EB-5 visa regional center liable for violating securities laws.
Executives at Wayfair Inc. raked in more than $87 million by pumping up the company's value during an investor call and then selling off their shares before announcing disappointing results the next quarter, a proposed class action filed Friday in Boston federal court alleges.
The U.S. Securities and Exchange Commission's recent settlements with professional boxer Floyd Mayweather and music producer DJ Khaled provide indispensable insight into the views of the SEC enforcement staff and commissioners regarding initial coin offerings, says John Reed Stark of John Reed Stark Consulting LLC.
An analysis of Foreign Corrupt Practices Act enforcement actions and trends in 2018 hints at what we should expect this year, say James Tillen and Ann Sultan of Miller & Chevalier Chtd.
Leveraging technology in a fiercely competitive market is a key factor driving law firms toward technology adoption in 2019, as they face growing demand from legal talent and clients for the ability to connect, access and control information whenever and wherever needed, says Tomas Suros of tech provider AbacusNext.
Last year, rulings by multiple federal courts reduced fiduciaries' accountability to retirement plan participants. But litigation and regulatory developments in the coming year may ensure that participants harmed by fiduciary misconduct find fewer hurdles to recovery, say Karen Handorf and Daniel Sutter of Cohen Milstein Sellers & Toll PLLC.
Three key securities cases this year could make it more difficult for investors to rely on the accuracy of corporate representations and hold defendants accountable for deliberately misleading the public, say Douglas Bunch and Alice Buttrick of Cohen Milstein Sellers & Toll PLLC.
Law360 guest authors weighed in on a host of key legal industry issues this year, ranging from in-house tips for success and open secrets about BigLaw diversity to criticisms of the equity partnership and associate salary models. Here are five articles that captured the most attention.
Take a peek behind the scenes of four U.S. Supreme Court cases from 2018, as the attorneys who won them reflect on the challenges they faced and the decisions they made that led to victory.
The SEC's wells process, Akorn v. Fresenius in the Delaware Chancery Court, and the upcoming U.S. Supreme Court ruling in Lorenzo v. SEC were among the securities law topics commanding reader interest this year.
As demonstrated by numerous rulings and settlements throughout 2018, the U.S. Supreme Court's 2015 decision in Tibble v. Edison — the first 401(k) excessive fee case it ever considered — continues to provide critical protections that will affect an ever-growing population of retirees, says Jerome Schlichter of Schlichter Bogard & Denton LLP.
Public companies acquiring private companies often use stock as an acquisition currency. To limit risks inherent in these complex transactions, aspects of initial structuring, such as whether stock will be registered, should be carefully considered, says Kevin Douglas of Bass Berry & Sims PLC.