Robbins Geller Rudman & Dowd LLP and Pomerantz LLP have been tapped to represent AstraZeneca investors in a Manhattan federal court suit alleging the company withheld information about problems in the clinical trial of its COVID-19 vaccine.
Block & Leviton LLP will lead an investor suit against cryptocurrency mining company Bit Digital that alleges the company misled investors by overstating its mining business, according to documents filed Friday in New York federal court.
A Cyprus-based company has asked a Florida federal judge to enforce a $7.6 million arbitral award it won two years ago against a Norwegian shareholder who defaulted on a $10 million loan meant for refinancing a Swiss corporation.
Easton Group has reportedly landed $24 million in financing for a Florida warehouse project, Vornado Realty Trust and Donald Trump have reportedly received $617 million in proceeds from a refinancing of a San Francisco office tower, and Housing Trust Group is said to be seeking additional density at a Florida multifamily property.
Describing the outcome as "a victory for deal certainty," Delaware's soon-to-be chancellor ordered a balking buyer on Friday to close on a $550 million deal for the world's largest professional cake decoration supplier, rejecting claims that a business slump as the pandemic opened had crumbled the agreement.
Recent initiatives from the U.S. Securities and Exchange Commission could bring wholesale changes to the way the agency polices environmental, social and governance disclosure issues, but the existing framework doesn't need any fixing if you ask Commissioner Hester Peirce.
WilmerHale has tapped the former chief of the U.S. Department of Justice's Foreign Corrupt Practices Act unit to join its white collar defense and investigations group, the firm announced Friday.
A Volkswagen investor accused the company Friday of artificially inflating stock prices ahead of April Fool's Day, when it posted a press release announcing a name change to "Voltswagen" and confirmed the purported change to media outlets, despite no plans to actually use that name.
A Manhattan federal jury on Friday convicted Live Well Financial founder Michael Hild of inflating the reverse-mortgage company's debt by hundreds of millions and taking $24 million in pay before it went under, rejecting his claim that he was "along for the ride" as others broke the law.
A 25-year-old Harvard graduate agreed Thursday to pay around $223,000 to settle a U.S. Securities and Exchange Commission suit alleging he lied to investors to raise $1 million for his floundering online tutoring business, once dubbed the "Uber of edtech startups" by Forbes.
Stockholders of medical technology venture Stereotaxis Inc. have opened a class suit in Delaware's Chancery Court accusing the company's directors of providing inadequate disclosures about an incentive package worth up to $569 million to its chief executive officer.
This past week in London has seen a new lawsuit filed against Clydesdale Bank and its former owner over business loans, a robotics company sue Ocado's tech arm for patent infringement, and fresh allegations in the hacking claim between Dechert LLP and an aviation magnate. Here, Law360 looks at those and other new claims in the U.K.
An AIG insurance unit has urged the Ninth Circuit to hold that the Arizona Supreme Court's recent ruling on a certified question means it doesn't have to fund the University of Phoenix's over $13 million settlement in a proposed securities class action.
A Colorado federal judge Thursday tapped Levi & Korsinsky LLP and Bragar Eagel & Squire PC to co-lead a consolidated class action alleging executives at Ultra Petroleum Corp. lied to investors about the oil and gas producer's prospects after it emerged from bankruptcy in 2018.
Alex Oh's unexpected resignation from the U.S. Securities and Exchange Commission's top enforcement job comes as a shock, but is unlikely to dissuade Chairman Gary Gensler from looking to BigLaw for a replacement, securities attorneys told Law360.
India Globalization Capital took ownership of a brokerage company owned by Apogee Financial Investments in an effort to break into the cannabis industry, but it didn't live up to its financial promises, leading to the downfall of the brokerage, according to Apogee's New York federal lawsuit filed Thursday seeking $12 million.
An Illinois federal judge on Wednesday granted Groupon's motion to dismiss a proposed securities class action it was facing due to its failure to specify misleading statements the e-commerce company allegedly made about its financial health, but allowed the shareholder a chance to amend his complaint.
Business staffing firm ShiftPixy Inc. filed initial public offerings for four special purpose acquisition companies that would raise $1.25 billion combined, hoping to acquire and take public multiple businesses, under guidance from Loeb & Loeb LLP.
Exercise machine company Peloton Interactive Inc. and two of its executives were hit Thursday with an investor's proposed class action after the company decided not to recall or halt sales of one of its products, despite a federal regulator's warning about children and pets being "sucked beneath" the devices.
A high-stakes gambler who admitted he'd scammed an unnamed investor out of $9.6 million by lying about how he'd use the money was sentenced to 28 months in prison in Illinois federal court Thursday, according to the U.S. attorney's office.
A Xerox Corp. spinoff and its investors agreed to mediate proposed class claims that shareholders paid artificially inflated stock prices because the company hid issues with a vendor's performance and outdated information technology, according to an order filed Thursday in New Jersey federal court.
Harbor Group International has reportedly dropped $390 million on a multifamily portfolio, Arbor Management Acquisition is said to be eyeing a 236,740-square-foot mixed-use project in Florida, and a Simon Property Group venture has reportedly landed $450 million of CMBS financing for a Virginia mall.
Array Biopharma Inc. has agreed to pay $8.5 million to settle claims it failed to properly detail its efforts to secure U.S. Food and Drug Administration approval for a new skin cancer treatment, the company's investors told a federal judge in Colorado.
Electric vehicle manufacturer Lordstown Motors Corp. was hit with a proposed class action Wednesday in which investors say they lost $1.9 billion after reports revealed the company was not capable of meeting supposedly 100,000 preorders for its line of pickup trucks.
Texas Attorney General Ken Paxton can be named as a responsible third party in a securities fraud lawsuit against his former business partners and a company he once owned and advised, the full Dallas court of appeals has ruled.
The recent efforts by plaintiffs in Juliana v. U.S. to amend their complaint against the U.S. government for allegedly violating their right to a safe climate are an example of how climate change disputes have evolved beyond damages claims, to new and diverse classes of action against governments and companies in courts around the world, say attorneys at White & Case.
Large financial institutions should take a close look at how their boards are operating, following recent guidance from the Federal Reserve Board that should make compliance more straightforward and may provide a vehicle for the Fed to link board ineffectiveness to unsafe or unsound practices, or other violations of law, say attorneys at Covington.
In California v. Office of the Comptroller of the Currency, a victory for state regulators arguing for the right to prohibit banks from acquiring loans made in other states that violate local interest rate caps will make it harder and more expensive for consumers to get loans as secondary credit markets recede, says William MacLeod at Kelley Drye.
A recently proposed California Senate bill, which would require large companies to report and mitigate their greenhouse gas emissions, heralds a trend at the state and federal levels toward requiring increased climate risk disclosures — so businesses should begin proactively assessing and reducing their emissions now, say attorneys at DLA Piper.
If your opposing counsel is a so-called Rambo litigator, there are ways to turn their scorched-earth litigation tactics and ad hominem attacks into assets that favor your client, says Margeaux Thomas at Thomas Law.
The U.K. Information Commissioner's Office recently authorized British companies to transfer U.K. subjects’ personal data to facilitate U.S. Securities and Exchange Commission investigations, but companies need more detail on how to invoke the safe harbor or handle EU data subjects, say attorneys at Davis Polk.
A recent Law360 guest article's challenge to well-established finance theory and securities case law due to the trading volatility and apparent mispricing of GameStop stock is misguided and easily refuted, says Narinder Walia at Crowninshield Financial.
As President Joe Biden's ambitious environmental framework takes shape, potential changes to existing regulations and enforcement of those rules raise questions regarding how companies should address and disclose environmental concerns, say Peter Kelso and Drew Howard at Roux Associates.
Financial institutions should consider seven best practices to fine-tune compliance programs in light of the Financial Crimes Enforcement Network’s recent advisory highlighting red flags that may signal pandemic-related health care fraud, say John Cunningham and Karima Tawfik at Buchanan Ingersoll.
The U.S. Securities and Exchange Commission's recently announced examination priorities for 2021 — which include turnkey asset management platforms, remote work operations, technology and disaster continuity plans — give companies a road map for recalibrating compliance programs for the new administration, say attorneys at Lowenstein Sandler.
The particular tasks for which a law firm client can expect to be billed have become unpredictable in the era of COVID-19, making flat fees and other alternative fee arrangements more attractive for both in-house and outside counsel, says Jessica Hodkinson at Panasonic.
The extraordinary recent volatility of GameStop and other so-called meme stocks shines a light on the need to revisit the outdated fraud-on-the-market presumption in securities litigation, which the plaintiffs bar is wrongly using to wring settlement after settlement out of securities issuers, says J.B. Heaton at One Hat Research.
Brian Miller, the special inspector general for pandemic recovery, discusses what companies and attorneys can do to avoid CARES Act fraud, how his team approaches protecting taxpayer money, and some of the challenges and successes SIGPR faced building an agency from the ground up amid a pandemic.
The shareholder challenge to Columbia Pipeline's $13 billion merger with TransCanada — which recently survived Delaware Chancery Court dismissal arguments — has lessons for target boards that favor a particular bidder, including the importance of documenting their reasoning, say attorneys at Fried Frank.
Justice Clarence Thomas’ unexpected use of a new citation format in the U.S. Supreme Court’s recent Brownback v. King opinion is the most notable citation change in the court's writing in 25 years, and could inspire receptiveness for other innovations in legal writing and beyond, says Carrie Garrison at Porter Wright.