Digital currency lawyer Marco Santori is leaving Cooley LLP, where he is a partner and leads the firm's fintech practice, to help lead bitcoin wallet startup Blockchain as its president and chief legal officer, the company announced Monday.
A Colorado attorney pled guilty on Tuesday in Connecticut federal court to a conspiracy charge stemming from her alleged role in a pump-and-dump scheme involving stock in several public companies that she did securities work for, federal prosecutors said.
Major investors in bankrupt lab testing company Millennium Lab Holdings II called on a Delaware judge Tuesday to keep open the company's already-confirmed Chapter 11, citing an ongoing appeal challenging third-party nondebtor releases in its more than $1.2 billion restructuring.
The Delaware Supreme Court decided to take up an interlocutory appeal Tuesday in a merger fraud case between two demolition and environmental remediation firms, saying issues over the use of discovery in a Chancery Court case were ripe for decision.
An appeals panel of New York’s First Judicial Department on Tuesday put tough questions to two investment funds that seek to try their fraud case against failed Chinese firm Xinhua Sports & Entertainment Ltd. before a jury, even though they signed multiple agreements that waived that right.
U.S. financial markets watchdogs are struggling and may seek Congress’ help to bridge the regulatory gaps currently keeping them from protecting investors amid the growing frenzy around cryptocurrencies, the nation’s two top securities regulators said Tuesday.
Valeant Pharmaceuticals International Inc. and others who were sued in Manhattan federal court by three investment funds over alleged fraud and price-gouging have asked the court to send the case to New Jersey, where it would be bundled with dozens of other similar suits.
Bankrupt department store chain Bon-Ton Stores Inc. secured interim approvals Tuesday for a $725 million debtor-in-possession loan and a 42-store closing plan after overcoming arguments that its more than $1 billion restructuring effort should be dropped in favor of liquidation.
U.S. Securities and Exchange Commission Chairman Jay Clayton told a Senate panel Tuesday that he is “not anxious” to see a change in policy that would let companies bar investors from filing class claims of fraud after an initial public offering.
Stanley Furniture Co. Inc. was hit with a proposed class action in North Carolina federal court on Monday accusing the company and its directors of issuing a proxy statement that doesn’t include enough information for shareholders to properly assess the fairness of a proposed asset sale.
Skadden Arps Slate Meagher & Flom LLP employed novel arguments over the last year to secure victories in an array of diverse cases, ranging from dismissal of class certification for a group of investors suing Brazilian oil company Petrobras to a decisive win for Putnam Investments in an Employee Retirement Investment Security Act class action, landing the firm among Law360's 2017 Securities Groups of the Year.
Puerto Rico’s government and the federally appointed board overseeing its historic debt restructuring are fighting hard to get a $1.3 billion emergency loan approved for the island’s beleaguered electric utility, blasting creditor objections to the plan as petty and legally unsound.
Walter Investment Management Corp. CEO Anthony Renzi is stepping away from the bankrupt mortgage lender and servicer at some point this year, the company announced Friday, the same day it said it will likely end 2018 with $50 million less than predicted in its confirmed Chapter 11 plan.
A proposed class of investors accusing cryptocurrency marketplace BitConnect of being both a pyramid and Ponzi scheme asked a Florida federal court on Monday for an emergency order freezing assets of the now-shuttered trading and lending platform, saying that such a move is necessary to stop their money from being spent or shunted into another scam.
The Financial Industry Regulatory Authority on Monday fined Wedbush Securities Inc. $1.5 million for violating the Securities and Exchange Commission's customer protection and net capital rules, finding that the firm exposed customers to risk and failed to detect deficiencies for nearly seven years.
Delaware’s chancellor on Monday ordered deadlocked California medical claims company Avande Inc. to hold a stockholder meeting on Feb. 15, amid allegations of intellectual property breaches, board dysfunction and claims that a holdout director was blocking an election.
An investor sued MetLife in New York federal court Monday, alleging that two stock drops followed reports that the insurer didn't set aside enough money in its reserves for annuity and pension payments.
A Canadian businessman urged a New York federal court to toss a U.S. Securities and Exchange Commission suit over an alleged $17 million pump-and-dump scheme tied to a silver exploration shell company, saying Friday the agency didn’t show how he intended to harm his clients.
A Stone Energy Corp. shareholder hit the oil and gas company with a suit in Delaware federal court Friday, claiming the shareholders were lied to and shortchanged in the company’s $2.5 billion merger with Talos Energy LLC.
Shareholders of Breitburn Energy Partners LP will get the opportunity next week to potentially reopen the court record and further challenge the company’s pending Chapter 11 plan after arguing a recent unsolicited $1.8 billion bid for the oil and gas enterprise should alter asset valuations, a judge decided Monday.
Study of the Enneagram personality typing system can provide attorneys with better insights into themselves, and into those they interact with professionally, including clients, opposing counsel and judges, says Jennifer Gibbs of Zelle LLP.
The Delaware Supreme Court's decision last month in Investor Bancorp may result in challenges to director compensation awarded pursuant to existing discretionary equity plans and is likely to affect the structure of future equity plans, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
The U.S. Securities and Exchange Commission's recent order against Munchee provides us with some guidance that goes beyond the SEC's July report that addressed initial coin offerings. Specifically, issuers must be extremely attentive to how their tokens are being marketed, says Joel Telpner of Sullivan & Worcester LLP.
John Greenya’s new book, “Gorsuch: The Judge Who Speaks for Himself,” offers readers something the confirmation hearings did not — the backstory of Neil Gorsuch and a glimpse of who Justice Gorsuch is, says Chief Judge Timothy Tymkovich of the Tenth Circuit.
A New Jersey federal court's recent decision in U.S. Securities and Exchange Commission v. Gentile has opened the door to the possibility that Section 2462's five-year statute of limitations serves as a complete defense to an SEC enforcement action, say Joseph Dever and Matthew Elkin of Cozen O’Connor.
For the first time since 2015, the SEC will be operating with a full slate of five commissioners, which will bring a wider variety of views and perspectives to the agency. Chairman Jay Clayton has also moved with deliberate speed to appoint a cast of competent and talented senior staff, says David Tittsworth of Ropes & Gray LLP.
After much hand-wringing in 2017 about whether Foreign Corrupt Practices Act enforcement would diminish radically under President Donald Trump, it’s now safe to say that all signs point toward continued and vigorous enforcement, say attorneys with Foley & Lardner LLP.
What business of law topics piqued reader interest in 2017? Take a look back at the year's five most-read legal industry articles from Law360 guest authors.
Inadvertent-tipping cases from the past 12 months demonstrate how carelessness can turn into career-threatening encounters with the U.S. Securities and Exchange Commission or the U.S. Department of Justice. It’s time for renewed resolve to talk about something other than work secrets over the holidays, say attorneys with King & Spalding LLP.
Two years ago, Federal Rule of Civil Procedure 37(e) was amended to provide a clearer road map for courts analyzing whether to permit sanctions for the spoliation of evidence. Yet there is still no specific guidance for when a sanctions request relates to electronically stored and nonelectronically stored information, says Skadden associate Robin Shah.