A California appeals court panel affirmed the dismissal of a stockholder suit against Twitter Inc., agreeing that the investors made no claims that the micro-blogging platform made intentionally false claims about when it would release its quarterly earnings.
A former Deutsche Bank AG trader accused of rigging the London Interbank Offered Rate will waive any conflict that may exist between his Paul Hastings LLP counsel and another megabank, Morgan Stanley, according to a letter published Friday.
Three British former foreign exchange traders who waived extradition from the United Kingdom pled not guilty in a New York federal court Monday to conspiring to fix the price of U.S. dollars and euros in the foreign currency exchange spot market.
Some of the world's top banks asked a New York federal court on Friday to kill a potential class action that accuses them of rigging the $960 billion market for so-called SSA bonds, saying the case has little to do with the U.S. and is built around a mere "handful" of bonds that the plaintiffs might not have even traded.
A Kentucky federal court ruled Friday that former U.S. Congressman William J. Jefferson’s acceptance of bribes funded with iGate Inc. investor dollars makes him “intrinsically involved” in a former iGate president’s breach of fiduciary duties.
We're pleased to announce Law360's Rising Stars for 2017, our list of 156 attorneys under 40 whose legal accomplishments transcend their age.
An Alabama federal judge ruled Friday that auditors PricewaterhouseCoopers LLP and Crowe Horwath LLP must face a $2.2 billion lawsuit by regulators who say the watchdog overlooked a mortgage fraud scheme that brought down Colonial BancGroup Inc., but said the damages are too complicated to apply interest.
An attorney for investors in Oxbow Carbon LLC accused CEO William I. Koch on Friday of arranging an undisclosed, conflicted search for sale or merger alternatives for the $2.6 billion company, a move that came at the end of a five-day Delaware Chancery Court trial on dueling contract interference claims.
The CEO and board member of Retrophin Inc. on Friday confirmed to a Brooklyn jury he received messages early on regarding settlement agreements in which the company picked up the tab for former CEO Martin Shkreli’s debt to investors, despite testifying earlier that the deals were never discussed or approved.
Seward & Kissel LLP told a New York federal judge on Friday that its role in helping a client sell his energy efficiency service company did not include due diligence on the financial state of the buyer, ForceField Energy Inc., which was implicated in a $131 million stock manipulation scheme and stiffed the seller.
The U.S. Securities and Exchange Commission dismissed administrative proceedings on Thursday against a former Wells Fargo trader after commissioners deadlocked over whether there was enough evidence to establish that he traded while aware of material, non-public information.
An investor in Panera Bread Co. has agreed to end his proposed class action against the fast-casual restaurant chain over alleged shortcomings in its disclosures surrounding its $7.5 billion acquisition by JAB Holding, according to a dismissal stipulation filed in Missouri federal court on Friday.
A California appeals court on Thursday refused to revive the claims of a microchip company and its shareholders that firms including Gordon & Rees mishandled a dispute over settlement proceeds, rejecting arguments that they deserve a second shot because a disbarred attorney who represented them during discovery in the malpractice case allegedly went “rogue.”
Jones Day has beefed up its practice in securities litigation and U.S. Securities and Exchange Commission enforcement as well as investigations and white collar defense with the addition of the former assistant U.S. attorney behind investigations ranging from JPMorgan’s hiring practices in Asia to a plot to bomb the New York Federal Reserve.
A New York federal court on Thursday halted the Commodity Futures Trading Commission’s suit accusing a man and his Dallas company of fraudulently soliciting customers to make off-exchange foreign currency transactions, giving the commodities regulator time to evaluate a proposed settlement in the case.
The Second Circuit on Thursday partly resuscitated a suit against Booz Allen Hamilton Inc. by retirees of the government contractor who say they were ripped off when the company was split in 2008, saying the plaintiffs had no case under the Employee Retirement Income Security Act but that a securities class action is possible.
Counsel for a class of L3 Technologies Inc. shareholders who reached a $34.5 million settlement with the communications company over allegations of securities fraud asked a Manhattan federal judge Thursday for attorneys’ fees and costs amounting to more than $9.1 million.
Former KIT Digital Inc. CEO Kaleil Isaza Tuzman, who is facing an accounting fraud suit from the U.S. Securities and Exchange Commission, asked a New York federal judge to compel Jones Day and a consulting firm to produce documents that he says could help him in the suit.
Arconic Inc., which supplied part of the exterior cladding that reportedly contributed to the quick spread of the deadly June 14 fire at London’s Grenfell Tower, was sued Thursday in New York federal court by investors claiming false statements before and after the fire hurt Arconic’s stock price.
Five high-ranking Democratic lawmakers on Friday sent a letter to U.S. Department of the Treasury Secretary Steven Mnuchin urging him to support an Obama-era program that helps workers without access to an employer-sponsored retirement account or a private sector plan save for their post-work years.
A recent decision by the New York State Department of Labor’s Unemployment Insurance Appeal Board provides broker-dealers with greater clarity surrounding job classification of Financial Industry Regulatory Authority-registered representatives working in stockbroker positions. The decision provides a narrow but clear safe harbor for NYSDOL investigations into classification, says David Kleinmann of Tarter Krinsky & Drogin LLP.
With the U.S. Supreme Court term now concluded, we take a look back at some first impressions from the experts when the most impactful decisions for corporate law were handed down.
The law relating to the taking of discovery directly from U.S. law firms is evolving in favor of disclosure when documents have been provided to third parties. Law firms must be vigilant in handling their clients' documents or face being responsible for producing them to third parties, say Steven Kobre and John Han of Kobre & Kim LLP.
In important respects, the Delaware Chancery Court's decision in PetSmart expands the contexts in which the court will defer to the merger price, thereby limiting the situations in which fair value may be determined by the often-volatile discounted cash flow valuation method on which appraisal arbitrageurs have relied, say Christopher Kelly and Mathew Golden of Potter Anderson & Corroon LLP.
Since 1980, there has been a systemic supersizing of business enterprises, the growth of sovereign wealth, and the emergence of international businesses. The pressure this has put on national and regional law firms to go global or go home is enormous, says Fredric Newman, a founding partner of Hoguet Newman Regal & Kenney LLP.
The U.S. Supreme Court’s decision this week in California Public Employees’ Retirement System v. ANZ Securities enables securities class action defendants to calculate their exposure to opt-out actions and other liability with greater confidence and precision, say attorneys with Skadden Arps Slate Meagher & Flom.
The Financial Industry Regulatory Authority is requesting comments on the effectiveness and efficiency of its rules on outside business activities of registered persons and private securities transactions of an associated person. Both rules aim to protect investors from potentially problematic activities, but many firms struggle with the language of the rules, say attorneys with K&L Gates LLP.
In December 2015, an amendment to Rule 26 of the Federal Rules of Civil Procedure was implemented with the intent of putting reasonable limits on civil discovery. The many subsequent cases that have applied the amended rules provide guideposts for litigants and practitioners, say Brandee Kowalzyk and Christopher Polston of Nelson Mullins LLP.
The U.S. Supreme Court’s decision in Digital Realty Trust v. Somers will resolve a nearly two-year-old circuit split regarding the Dodd-Frank Act’s whistleblower protections. Both whistleblowers and publicly traded companies will lose if the Supreme Court holds that Dodd-Frank does not protect internal whistleblowers, say Alexis Ronickher and Matthew LaGarde of Katz Marshall & Banks LLP.
The simple practice of asking jurors important and substantive questions early can help make trial by jury a more reliable form of dispute resolution, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.