Securities

  • May 13, 2025

    Colo. Justice Iffy On Tossing Rulings In Securities Fraud Case

    A Colorado Supreme Court justice said he was a bit troubled that three decisions might be overturned if he accepts the state's argument that attorney advice isn't relevant to a securities fraud defendant's state of mind, musing that perhaps those previous courts "got it right."

  • May 13, 2025

    Nike Seeks Dismissal Of Investors' Sales Strategy Fraud Suit

    Sportswear company Nike and several of its top executives have urged an Oregon federal judge to toss a proposed class action alleging the company's stock value declined as it continued to mislead investors on the success of a change in sales strategy, saying the suit improperly uses hindsight to claim fraud.

  • May 13, 2025

    Health Co. Elevance Faces Suit Over Post-COVID Costs Claims

    Health insurance provider Elevance Health Inc. and some of its executives face a proposed investor class action alleging the company hurt shareholders by mismanaging expectations about its Medicaid business's costs amid the post-pandemic eligibility redetermination process in certain markets it served.

  • May 13, 2025

    Intel Schemed To Duck $1B In Mobileye Losses, Investors Say

    Intel Corp. used its position as Mobileye Global's controlling shareholder and fiduciary to strategically offload $1.6 billion in stock ahead of an announcement that tanked stock prices, according to a shareholder derivative suit filed Monday in Delaware Chancery Court.

  • May 13, 2025

    Hooters Can Tap Full $40M DIP In Chapter 11

    Restaurant chain Hooters can tap the last $30 million of its $40 million Chapter 11 debtor-in-possession loan after it agreed to escrow disputed royalty revenue to quell a creditor's objection during a Tuesday hearing in a Texas bankruptcy court.

  • May 13, 2025

    SEC Says Ex-Pot Co. CFO Can't Cite Atty Advice As Shield

    The U.S. Securities and Exchange Commission told a New York federal judge that a former executive of cannabis company Acreage Holdings Inc. accused of falsifying the company's financials cannot allege he was relying on advice from attorneys without forgoing the attorney-client privilege that would shield those communications.

  • May 13, 2025

    SEC Inks Judgment In Telecom Execs' Inflated Revenue Suit

    The former CEO and CFO of a bankrupt telecommunications software provider have cut a deal with the U.S. Securities and Exchange Commission that will ban them from ever again serving as head or officer of a public company.

  • May 13, 2025

    Cannabis Water Co. Escapes $10M Fraud Charges With DPA

    A cannabis-infused beverage maker on Tuesday inked a deferred prosecution agreement to resolve charges over its alleged role in a $10 million pump-and-dump scheme, with the deal including compliance provisions but no monetary penalty.

  • May 13, 2025

    Fox Nabs Smartmatic Bribery Probe Docs In Defamation Case

    A New York state appeals court on Tuesday ordered Smartmatic to give Fox News documents related to a federal investigation into allegations that executives of the election systems company bribed officials in the Philippines, ruling the materials are "plainly relevant" to the network's defense against defamation claims.

  • May 13, 2025

    Investment Firm Drops 2 Counts From $70M Client Poach Suit

    Connecticut investment firm TJT Capital Group LLC has agreed to drop a Computer Fraud and Abuse Act count and a common-law trade secrets misappropriation claim from a lawsuit accusing a chief compliance officer of taking $70 million in assets under management with him when he left for a new job.

  • May 13, 2025

    Father-Son Duo Get Prison Terms In $100M Deli Fraud

    A father and son were handed down federal prison sentences on Tuesday for their roles in a scheme that tricked investors into thinking a small, unprofitable Garden State deli was worth $100 million.

  • May 13, 2025

    SEC's Uyeda Encourages Opening 401(k)s To Private Assets

    U.S. Securities and Exchange Commissioner Mark Uyeda said Tuesday that regulators should explore how retirement accounts could expand to include private equity investments, arguing that such a shift would put 401(k) plans on par with pension funds.

  • May 13, 2025

    CFTC Faces Sanctions For 'Bad Faith' Actions In Forex Case

    The U.S. Commodity Futures Trading Commission is staring down sanctions in a case accusing a foreign exchange firm of fraud, with a special master recommending Tuesday that the agency pay the firm's legal fees for acting in bad faith in order to gain a "tactical advantage" in the case.

  • May 13, 2025

    SEC X Account Hack Conspirator Deserves 2 Years, Feds Say

    Federal prosecutors are seeking a two-year sentence for an Alabama man who admitted to his role in last year's hack of the U.S. Securities and Exchange Commission's account on the social platform X to post a bogus development in the agency's cryptocurrency policy, while the man himself said Tuesday that a year and a day should suffice.

  • May 13, 2025

    4 Firms Build Robinhood's $178.9M Canadian Crypto Buy

    Financial services giant Robinhood on Tuesday unveiled plans to acquire Canadian cryptocurrency platform WonderFi Technologies in a CA$250 million ($179 million) take-private deal built by four law firms.

  • May 13, 2025

    DOJ Criminal Division Head Dangles Self-Disclosure 'Carrot'

    The U.S. Department of Justice unveiled a revised corporate enforcement policy Monday that offers companies a "clear path" to avoid criminal resolutions when they voluntarily self-disclose misconduct, a boon for American businesses that further scales back the scope of white collar enforcement under the Trump administration.

  • May 13, 2025

    Feds Nixing Crypto 'Property' Theft Charge Against Brothers

    Prosecutors have told a Manhattan federal judge that they plan to drop a charge of conspiracy to receive stolen property against two Massachusetts Institute of Technology-educated brothers accused of stealing $25 million worth of cryptocurrency, after the defendants pointed to a U.S. Department of Justice memo limiting certain charges involving digital assets.

  • May 13, 2025

    Morgan Lewis Adds Ex-Dechert Registered Funds Pro In NY

    Morgan Lewis & Bockius LLP has added a registered funds specialist who previously served over 20 years with Dechert LLP as a partner in its New York office, the firm announced Tuesday.

  • May 12, 2025

    Bitcoin Miner Investor Sues Over Flawed Financial Reports

    Bitcoin mining company Bitfarms Ltd. faces a proposed investor class action alleging it improperly accounted for certain capital-raising transactions, hurting investors when it announced it would restate its 2022 and 2023 financials.

  • May 12, 2025

    Coinbase Inks $2.25M Deal In Dogecoin Sweepstakes Suit

    Coinbase Inc. and promoter Marden-Kane have agreed to pay $2.25 million to put to rest a proposed class action over a Dogecoin cryptocurrency sweepstakes, a deal that follows a trip to the U.S. Supreme Court, according to a motion filed in California federal court Friday.

  • May 12, 2025

    Eric Trump-Backed Crypto Miner Merges With Gryphon Digital

    A new bitcoin miner backed by President Donald Trump's two eldest sons said Monday that it will go public through an all-stock merger with Gryphon Digital Mining Inc. and will list on the Nasdaq under the ticker symbol ABTC.

  • May 12, 2025

    Instacart Beats Investor Suit Over Pre-IPO Business

    A California federal judge tossed a shareholder class action accusing grocery delivery company Instacart of misrepresenting its potential in the lead-up to its initial public offering, finding, among other things, that the plaintiffs did not sufficiently plead any actionable misleading statements or that the defendants acted with a motive to deceive investors.

  • May 12, 2025

    Chancery Nixes Paramount-Skydance Books Suit Intervention

    Delaware's Chancellor on Monday denied a Paramount Global preferred shareholders' motion to intervene in a New York public pension fund group's suit for documents on Paramount's proposed $8 billion merger with Skydance Media, the latest development in a sprawling, potential post-closing deal challenge.

  • May 12, 2025

    SEC's Atkins Outlines Crypto Policy Plans At Roundtable

    U.S. Securities and Exchange Commission Chairman Paul Atkins told crypto industry participants on Monday that developing rules for digital asset markets would be a "key priority" of his chairmanship during a keynote address that promised to focus the agency's enforcement approach on fraud and manipulation.

  • May 12, 2025

    Boeing Execs Say Cert. Appeal Warrants Stay Of 737 Max Suit

    Boeing executives have argued state pension fund litigation accusing them of putting profits over safety should be paused while the Fourth Circuit reviews the certification of a class of investors who are accusing the company and its leaders of making false statements about the 737 Max.

Expert Analysis

  • How Law Firms Can Counteract The Loneliness Epidemic

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    The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.

  • What Remedies Under New Admin's SEC Could Look Like

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    The U.S. Securities and Exchange Commission is likely to substantially narrow the remedies it pursues over the next few years, driven by the mounting challenges it faces in court, as well as the views of its incoming chair and fellow Republican commissioners on injunctions, penalties and disgorgement, say attorneys at Milbank.

  • Texas Fraud Case Shows Dangers Of Faulty Crypto Reporting

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    The recent sentencing of a man who failed to properly report capital gains from bitcoin sales is a reminder that special attention must be given to the IRS' reporting requirements in order to stay out of the government's crosshairs, says Saverio Romeo at Fox Rothschild.

  • 5 Keys To Building Stronger Attorney-Client Relationships

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    Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.

  • BlackRock Suit Highlights Antitrust Risks Of ESG

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    In Texas v. BlackRock, pending in Texas federal court, 13 state attorneys general are suing large institutional investors in the coal business, underscoring key reasons companies may want to alter their approach to developing and implementing policies related to environmental, social, and governance factors, especially if coordination with competitors is involved, say attorneys at Manatt.

  • Suggestions For CFTC Enforcement's New Leadership

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    The recent change in leadership at the U.S. Commodity Futures Trading Commission presents an opportunity to reflect on past practices and consider opportunities for improvement at the commission's Enforcement Division, including in observing precedent and providing greater enforcement transparency, say attorneys at Clifford Chance.

  • Chancery Ruling Holds Authorized Share Takeaways For Cos.

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    The Delaware Chancery Court’s recent ruling in Salama v. Simon resolved statutory ambiguity in favor of boards seeking authorized share increases, and has important implications for litigators presenting extrinsic evidence in support of contract or statutory interpretation arguments, says Robin Wechkin at Sidley.

  • Opinion

    NFT Bill Needs Refining To Effectively Regulate Digital Assets

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    A recent bill in the U.S. House proposing to regulate nonfungible tokens as digital assets would leave key concepts undefined until the U.S. comptroller general completes an after-the-fact study of NFTs, showing it needs more work before it is comprehensive enough to meaningfully protect the market, say attorneys at Duane Morris.

  • McMahon SEC Settlement Warns Of Nondisclosure's Price

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    The U.S. Securities and Exchange Commission's recent financial nondisclosure settlement with former WWE CEO Vince McMahon illustrates the breadth of executives' reimbursement obligations under the Sarbanes-Oxley Act and highlights the importance of building robust internal corporate reporting processes, say attorneys at BCLP.

  • Series

    Racing Corvettes Makes Me A Better Lawyer

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    The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.

  • Bill Would Bring Welcome Clarity To Del. Corporate Law

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    A recently proposed bill in Delaware that would provide greater predictability for areas including director independence and controlling stockholders reflects prudential adjustments consistent with the state's long history of refining and modernizing its corporate law, say attorneys at Simpson Thacher.

  • Opinion

    Attorneys Must Act Now To Protect Judicial Independence

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    Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.

  • Rethinking 'No Comment' For Clients Facing Public Crises

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    “No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.

  • Del. Supreme Court TripAdvisor Ruling May Limit 'MFW Creep'

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    The Delaware Supreme Court's recent Maffei v. Palkon ruling regarding TripAdvisor's proposed reincorporation to Nevada potentially signals a turning point in the trend of expanding the protections from Kahn v. M&F Worldwide to other types of transactions, says Andrew J. Haile at Elon University.

  • What To Expect In Crypto Banking After SEC Nixed Guidance

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    With the U.S. Securities and Exchange Commission recently rescinding its controversial cryptocurrency accounting guidance, the industry's focus will turn to the potentially significant hurdle to crypto banking posed by the federal banking regulators, say attorneys at Duane Morris.

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