Securities

  • September 09, 2025

    Ariz. Developer, Son Get Prison For $280M Sports Park Fraud

    An Arizona developer and his son were both sentenced to prison Tuesday for deceiving investors into sinking $280 million into a Phoenix-area sports park by forging documents and inflating revenue projections for the facility, which entered bankruptcy soon after it opened.

  • September 09, 2025

    Private Fund Adviser To Pay $9.7M To End SEC Suit

    The U.S. Securities and Exchange Commission announced on Tuesday that a real estate-focused Colorado private fund adviser and his two management firms would pay $9.7 million to settle claims of defrauding investors with misrepresentations, which include concealing conflicts of interests in proposed buyout transaction requests he sent to investors.

  • September 09, 2025

    DC Says Crypto ATM Operator Profits Off Senior Scams

    Athena Bitcoin, one of the country's largest operators of so-called bitcoin automated teller machines, has been sued by the D.C. attorney general for allegedly charging undisclosed fees on deposits it knew were often the result of scams, for failing to implement adequate anti-fraud measures, and for refusing to refund scam victims.

  • September 09, 2025

    SEC Sued To Lift Private Market Investment Cap

    A U.S. Securities and Exchange Commission regulation that prohibits individuals making less than $200,000 a year from investing in the private markets is unconstitutionally discriminatory, according to a lawsuit launched against the agency in Texas federal court.

  • September 09, 2025

    CFTC Fines Colo. Trader Over Futures Market Spoofing Claim

    The U.S. Commodity Futures Trading Commission announced Tuesday that a Colorado man has agreed to pay $200,000 to settle allegations that he spoofed a pair of futures markets on the Chicago Mercantile Exchange.

  • September 09, 2025

    Coinbase Vendor Called 'Major' Cog In 'Insider Bribery' MDL

    A Manhattan federal judge said Tuesday that a Texas-based Coinbase vendor called TaskUs will be a "major participant" in multidistrict litigation centralized in New York over allegations that thousands of Coinbase customers were victimized in a bribery-fueled data compromise.

  • September 09, 2025

    Fund Managers, Firms Owe SEC $27.6M After Jury Trial Loss

    Two men and their companies owe the U.S. Securities and Exchange Commission $27.6 million in disgorgement, interest and fines after a Wisconsin jury found they violated federal securities law with an offering that raised $53 million through "largely fictitious" gains in a fund valued in part on a gem and mineral collection.

  • September 09, 2025

    Azure Power Investors Get Final OK Of $23M Settlement

    A New York federal judge granted final approval to a $23 million settlement between India-based solar energy company Azure Power and investors accusing it of misrepresenting its compliance with anti-corruption and anti-bribery laws, and the methods through which it won bids for projects.

  • September 09, 2025

    Why SEC, CFTC Crypto Rules 'Sprint' Could Be A Marathon

    The White House-backed push to entice the crypto industry's return to the U.S. with clearer rules is off to a quick start, but experts say the process could drag on longer than anticipated as regulators navigate competing interests of embracing the evolving digital assets market and protecting consumers.

  • September 09, 2025

    Execs Hit With 'Drastic' Sanctions In RE Platform Dispute

    A New York state court has sanctioned two directors of Fang Holdings Ltd. and their affiliates for "flagrant and blatant disregard" of discovery orders amid a shareholder derivative suit accusing them of manipulating the Chinese real estate portal to enrich themselves.

  • September 09, 2025

    1st Circ. Urged To Nix $42M Disgorgement In Stock Scheme

    Five alleged participants in a $144 million multinational pump-and-dump scheme asked the First Circuit on Tuesday to vacate a disgorgement order holding them jointly and severally liable for nearly a third of the alleged ill-gotten gains, saying the order is based on "gibberish" records generated by the scheme's mastermind.

  • September 09, 2025

    Ex-CFTC Atty Presses Religious Bias Claim At 2nd Circ.

    A former Commodity Futures Trading Commission lawyer urged an inquisitive panel of the Second Circuit Tuesday to revive the religious discrimination claims he brought alleging a "gag order" effectively banned him from praying with a friend who was serving as the agency watchdog at the time.

  • September 09, 2025

    Career SEC Attorney Joins Latham's DC Finance Practice

    Latham & Watkins LLP has hired the former chief of the U.S. Securities and Exchange Commission's Office of Structured Finance, who is joining the firm after more than 20 years at the agency, to work with those structured finance clients.

  • September 08, 2025

    DC Circ. Mulls Whether To Leave Whistleblower Rewardless

    The D.C. Circuit didn't seem to think it was fair that the SEC refused a million dollar reward to a whistleblower who went to the media first, even though the judges hinted Monday they thought the agency might have been within its rights to do so.

  • September 08, 2025

    Lolli & Pops Sued For Docs Over Alleged Structure Changes

    The former CEO of Hammond's Candies, who sold the business to candy maker Lolli & Pops last year, sued the company Friday in Delaware seeking to inspect its books and records alleging he has "credible basis to believe" Lolli & Pops modified its ownership structure in a way that could have potentially diluted his shares. 

  • September 08, 2025

    Nasdaq Seeks SEC Nod To Trade Tokenized Securities

    Nasdaq said on Monday that it has submitted to the U.S. Securities and Exchange Commission its proposal to facilitate tokenized securities trading on the Nasdaq Stock Market, in an effort to "support the evolution of the markets."

  • September 08, 2025

    Super Micro Hit With Stockholder Derivative Suit In Del.

    A Super Micro Computer Inc. stockholder has launched a lawsuit seeking recoveries from top officers and directors for hundreds of millions in damages allegedly arising from false and misleading statements tied to financial reports and internal controls.

  • September 08, 2025

    Securities Class Actions Had A Late Summer Appellate Bloom

    While the later summer months are often a quiet time for the nation's courts, the federal appellate courts were hard at work this past July and August issuing important rulings on class certification standards for shareholder lawsuits and handing down split-panel decisions over the future of disclosure litigation.

  • September 08, 2025

    Swedish Video Game Co. Beats Suit Over Compliance Issues

    A Pennsylvania federal judge dismissed claims against Evolution AB in a suit claiming the Swedish gaming company misled investors about its growth and that its subsidiaries routinely conducted business with unlicensed customers, finding that the court does not have jurisdiction over Evolution, since it is not "at home" in Pennsylvania.

  • September 08, 2025

    Ex-Trader Barred By SEC In Insider Trading Plea Deal

    A former Irving Investors LLC trader has agreed to disgorge insider trading gains, to be banned from buying or selling securities based on nonpublic information and to stop communicating nonpublic information to others, all under an SEC enforcement action that parallels a recent criminal plea agreement.

  • September 08, 2025

    Bank Group Urges Supervision Reform Amid Regulatory Shift

    A banking think tank announced Monday a new campaign to persuade federal policymakers to reform bank supervision frameworks the institute described as "subjective, duplicative, tangential to material risks and extralegal," the news following on the heels of a similar proposal issued by federal regulators.

  • September 08, 2025

    Del. Gov. Defends Corp. Law Overhaul In Pending Appeal

    Delaware's governor has weighed in strongly against a state Supreme Court challenge to legislation approved earlier this year barring damages or "equitable" relief for some controlling stockholder or going-private deals, arguing that nothing in the measure unconstitutionally limits court powers.

  • September 08, 2025

    FibroGen To Pay SEC $1.25M Over Drug Mistatements

    Biopharmaceutical company FibroGen Inc. has agreed to pay a $1.25 million penalty to the U.S. Securities and Exchange Commission to resolve claims that its former chief medical officer fudged results for its primary drug, Roxadustat, which treats anemia in kidney disease patients.

  • September 08, 2025

    New $25M Vanguard Investor Tax Case Deal Gets Initial OK

    A $25 million settlement of a class action accusing Vanguard of improperly triggering an asset sell-off that saddled investors with steep tax bills received preliminary approval Monday, according to an order in Pennsylvania federal court, after a $40 million deal was rejected in May.

  • September 08, 2025

    E-Bike Co. Hid Battery Issues, Investor Says In Stock Suit

    An investor sued Fly-E Group Inc. on Monday in New York federal court, alleging that the company and its officers ignored slumping sales because of problems with its lithium-ion batteries, inflating stocks until they dropped by 87% in a single day when the truth came out.

Expert Analysis

  • Series

    Law School's Missed Lessons: Teaching Yourself Legal Tech

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    New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.

  • Texas Targets Del. Primacy With Trio Of New Corporate Laws

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    Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.

  • How AI May Reshape The Future Of Adjudication

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    As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.

  • When Legal Advocacy Crosses The Line Into Incivility

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    As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.

  • Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet

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    Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.

  • 2 NY Rulings May Stem Foreign Co. Derivative Suits

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    In recent decades, shareholders have challenged the internal affairs doctrine by bringing a series of derivative actions in New York state court on behalf of foreign corporations, but the New York Court of Appeals' recent rulings in Ezrasons v. Rudd and Haussmann v. Baumann should slow that trend, say attorneys at Cleary.

  • FCPA Enforcement Is Here To Stay, But It May Look Different

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    After a monthslong enforcement pause, the U.S. Department of Justice’s new Foreign Corrupt Practices Act guidelines fundamentally shift prosecutorial discretion and potentially reduce investigatory burdens for organizations, but open questions remain, so companies should continue to exercise caution, say attorneys at Simpson Thacher.

  • Ore. Coinbase Case Charts New Path For State Crypto Suits

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    Oregon's recent lawsuit against Coinbase serves as a reminder for the crypto industry that not all states will simply defer to the U.S. Securities and Exchange Commission's evolving stance on crypto-assets, highlighting why stakeholders should proactively assess the risks posed by state-level litigation and develop strategies to address distinct challenges, say attorneys at Steptoe.

  • Series

    Volunteering At Schools Makes Me A Better Lawyer

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    Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.

  • Fed's Crypto Guidance Yank Could Drive Innovation

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    The Federal Reserve Board's recent withdrawal of guidance letters brings regulatory consistency and broadens banks' ability to innovate in the crypto-asset space, but key distinctions remain between the Fed's policy on crypto liquidity and that of the other banking regulators, says Dan Hartman at Nutter.

  • GM Case Highlights New Trends In AI-Related Securities Suits

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    Bold company statements about artificial intelligence have resulted in a rise in AI-related securities litigation, and a recent Michigan federal court decision in In Re: General Motors Co. Securities Litigation illustrates how courts are analyzing these AI-based claims and applying traditional securities concepts to new technologies, say attorneys at Cooley.

  • Attacks On Judicial Independence Tend To Manifest In 3 Ways

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    Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.

  • A Look At Texas Corp. Law Changes Aimed At Dethroning Del.

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    Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.

  • OCC's Digital Embrace Delivers Risk, Opportunity For Banks

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    As the Office of the Comptroller of the Currency continues to release and seek more information on banks' participation in the crypto-asset arena, institutions may see greater opportunity to pursue digital asset and custody services, but must simultaneously educate themselves on transformations occurring throughout the industry, says Kirstin Kanski at Spencer Fane.

  • Remediation Still Reigns Despite DOJ's White Collar Shake-Up

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    Though the U.S. Department of Justice’s recently announced corporate enforcement policy changes adopt a softer tone acknowledging the risks of overregulation, the DOJ has not shifted its compliance and remediation expectations, which remain key to more favorable resolutions, say Jonny Frank, Michele Edwards and Chris Hoyle at StoneTurn.

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