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Securities

  • January 14, 2019

    High Court Wants SG's Take On Toshiba Stock-Drop Dispute

    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.

  • January 11, 2019

    The Firms That Dominated In 2018

    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.

  • January 11, 2019

    Law360 Names Practice Groups Of The Year

    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.

  • January 11, 2019

    1st Convicted Spoofer Alleges Spotty Data In Bid For New Trial

    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.

  • January 11, 2019

    Chancery OKs $2M Settlement For Louisville Bedding Class

    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.

  • January 11, 2019

    Uncertain Deals Climate Persists After JPMorgan Conference

    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.

  • January 11, 2019

    Medley Capital's Investors Want Records On Proposed Merger

    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.

  • January 11, 2019

    Alphabet Board Hid Execs' Misconduct, 2nd Investor Suit Says

    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.

  • January 11, 2019

    Trader Who Used Hacked Press Releases Gets 4 Years

    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.

  • January 11, 2019

    Alibaba Group's $75M Investor Settlement Gets First OK

    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.

  • January 11, 2019

    How M&A Attys Can Keep Deals Flowing During The Shutdown

    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.

  • January 11, 2019

    Cemtrex Settles Shareholder Suits Over Stock Drop

    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.

  • January 11, 2019

    Coinbase Can’t Nix Bitcoin Cash Rollout Suit, Buyers Say

    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.

  • January 11, 2019

    $29M Yahoo Breach Deal In Calif. Ends Chancery Suit In Del.

    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.

  • January 11, 2019

    Chancery Decision In CytRx Attys' Fees Dispute Upheld

    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.

  • January 11, 2019

    Chinese Listings On US Markets Surge Amid At-Home Slump

    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.

  • January 11, 2019

    Reed Smith Tells 2nd Circ. Tort Claim Outside Of Fee Fight

    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.

  • January 11, 2019

    Platinum Judge 'Having 2nd Thoughts' On Barring $1B Figure

    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."

  • January 11, 2019

    Calif. Co. Must Pay $24M For Role In EB-5 Fraud Scheme

    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.

  • January 11, 2019

    Wayfair Execs Accused Of Inflating Stock, Pulling In $87M

    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.

Expert Analysis

  • 5 Hidden Lessons In Mayweather, Khaled ICO Actions: Part 1

    John Reed Stark

    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.

  • 3 FCPA Enforcement Predictions For 2019

    James Tillen

    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.

  • Why More Law Firms Will Embrace Remote Work In 2019

    Tomas Suros

    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.

  • Watch These ERISA Cases In 2019

    Karen Handorf

    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.

  • Opinion

    Securities Cases Plaintiffs Attorneys Must Watch In 2019

    S. Douglas Bunch

    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.

  • 5 Most-Read Legal Industry Guests Of 2018

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    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.

  • Roundup

    Winner's Playbook

    Winner's Playbook

    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.

  • 10 Most-Read Securities Law360 Guests Of 2018

    Top Stories

    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.

  • Opinion

    High Court's Tibble Opinion Matters Now More Than Ever

    Jerome Schlichter

    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.

  • Tips For Using Private Co. Stock As Acquisition Currency

    Kevin Douglas

    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.