Two Credit Suisse Group AG units on Thursday asked a New York appeals court to undo a lower court’s ruling in favor of the trustee for four pools of toxic residential mortgage-backed securities that allegedly caused over $1 billion in losses, saying it wrongly interpreted a sole remedy provision in the underlying contracts.
A New York federal judge unsealed an indictment Wednesday adding three Abraaj Group executives and more than a dozen new claims to a lawsuit over what prosecutors called the "largest collapse of a private equity firm in history."
The U.S. Securities and Exchange Commission is considering changing the thresholds for submitting shareholder proposals and amending regulations that could affect proxy firms, potentially tackling two hot-button corporate governance topics that some lawyers say are ripe for action.
A Muzik Inc. stockholder filed a complaint Thursday in the Delaware Chancery Court seeking access to records from the wearable audio technology company so it can determine the value of its shares after notes it previously held were "unilaterally" converted into equity.
A principal adviser to a New Jersey-based cybersecurity firm has escaped a lawsuit alleging he and the company’s CEO duped investors into providing $1.25 million in financing to the business, with a federal judge ruling the complaint failed to articulate the adviser's purported lies.
Investors in the now-defunct cryptocurrency company Centra Tech urged a Florida federal court to certify their class in a suit accusing Centra of faking licensing agreements with major credit card companies to solicit investment in its $32 million initial coin offering.
Prosecutors urged a judge on Wednesday to reject a bid by two former Theranos executives to make prosecutors go hunting through other agencies' files, saying that they’ve already persuaded the agencies to help the pair and that a court order on the issue would set a bad precedent.
DLA Piper added a new finance partner to its Boston office, welcoming an attorney from Morrison & Foerster LLP who aims to grow the finance practice in the Hub for the international firm.
A Florida law firm and two of its attorneys cost investment firm L2 Capital LLC $4 million through negligently prepared transactional documents with a digital payment services company, along with more money lost in transactions with other businesses, according to a legal malpractice suit filed in federal court Thursday.
A New York federal judge Wednesday named Scott & Scott Attorneys at Law LLP and Grant & Eisenhofer PA as co-lead counsel to represent stockholders who accuse Weight Watchers in a consolidated proposed class action of bragging about rising subscriber numbers when new membership was actually falling.
The U.S. Securities and Exchange Commission told a Pennsylvania federal court Thursday it reached a roughly $1.5 million deal with the former top brass of now-defunct Global Transition Solutions, urging the court to close the book on the dispute.
A career finance pro told Manhattan jurors Thursday that the CEO of Premium Point Investments became angry and demoted him when he complained about what he called rampant overvaluing of mortgage-debt assets at the now-bankrupt hedge fund.
Security technology company Global Digital Solutions Inc. will shell out $595,000 to resolve claims that it artificially inflated its essentially worthless stock in what investors called an "extraordinary result" in New Jersey federal court Wednesday.
The Financial Industry Regulatory Authority recently flexed its power to police crowdfunding websites with a panel's first litigated enforcement action against a funding portal, a move that laid out novel interpretations of the organization’s rules and set up a possible countersuit.
A Wisconsin federal judge on Wednesday named Bernstein Litowitz as lead counsel and Rathje & Woodward as liaison counsel for an investor suit accusing branded consumer products company Spectrum Brands Legacy Inc. of artificially inflating stock prices.
ISN Software Co. told the Delaware Supreme Court a lower court was wrong to dismiss its malpractice claims against Richards Layton & Finger PA because the company rightly brought its claim only after suffering actual damages as a result of purported bad legal advice.
The Hong Kong Stock Exchange hit a consumer products manufacturer with a censure Wednesday, finding the company published annual results without confirming the accuracy of their contents with an auditor and missed a deadline for the release of other financial information.
A Long Island personal injury attorney on Wednesday admitted to taking part in what prosecutors say was a scheme by a convicted securities fraudster to try to extort $7 million from a former co-defendant and launder the funds through a religious charity.
Midstream oil and gas services company Triangle Petroleum urged the Delaware bankruptcy court on Wednesday to sign off on its Chapter 11 debt-for-equity swap that would wipe more than $150 million of secured obligations from its balance sheet two years after its exploration subsidiary went through bankruptcy.
A former financial adviser for Merrill Lynch has consented to the Financial Industry Regulatory Authority issuing him a one-month suspension for allegedly starting a cryptocurrency mining business without telling his employer.
Ripple's chief technology officer said Wednesday that lack of clarity from the U.S. Securities and Exchange Commission has left the digital payments company in an "awkward situation," as the agency just last week launched a highly anticipated action against Kik.
The Fourth Circuit refused Wednesday to revive a suit by Chinese investors who say they were swindled out of investments and green cards by the former head of the Democratic National Committee and Hillary Clinton’s brother, saying their failure to translate or review key deal documents precludes their claims.
CBS and Les Moonves must face claims they committed securities fraud by touting their workplace ethics as sexual assault allegations piled up around the former CEO so that insiders could pocket over $200 million before CBS stock took a nose dive, investors insisted.
A secured lender in Elk Petroleum Inc.'s Delaware Chapter 11 moved to appoint an independent trustee to take control of the bankruptcy late Tuesday after branding the oil and gas producer's proposed counsel and chief restructuring officer too conflicted to serve.
Milberg LLP has struck a confidential deal in a $15 million case brought in New York state court by an ex-partner and convicted felon who alleged his former firm reorganized to deprive him of payments he was owed.
Recent guidance from the U.S. Securities and Exchange Commission may help issuers avoid having their future initial coin offerings categorized as unregistered securities offerings. But for past ICOs, issuers must rely on the SEC's remediation process, and should consider two key questions before proceeding, says Kayvan Sadeghi of Schiff Hardin.
The Conference of State Bank Supervisors' recently announced suggestions to harmonize state law frameworks for nonbank fintech companies could be particularly beneficial to cryptocurrency companies, for whom the applicable regulatory landscape is especially uncertain, say attorneys at Cleary Gottlieb.
In a recent Law360 guest article, the author applauded the disappearance of jury trials as an inefficient, costly mechanism, but in doing so he overlooked the greater value of jury trials for our justice system, says Stephen Susman, executive director of the Civil Jury Project at NYU School of Law.
During the past 15 years, three widely read articles bolstered by starstruck media have promulgated the incorrect perception — sorely in need of revision — that the U.S. Supreme Court bar is limited to a handful of elite lawyers, says Lawrence Ebner of Capital Appellate Advocacy.
The U.S. Securities and Exchange Commission recently settled with the founder of Jumio for his misstatement of financial results to inflate the value of his company shares. This case is an example of what may be in store if an economic downturn hits the current stable of unicorns, say Joshua Newville and Brian Hooven at Proskauer.
When changes in clean energy regulations lead to investor disputes, domestic companies may be limited to challenging regulatory changes in local courts, but investors from abroad can often seek remedies under international law, say attorneys at WilmerHale.
The Financial Crimes Enforcement Network recently assessed its first civil penalty against a peer-to-peer exchanger of convertible virtual currency, indicating that virtual currency exchanges of any size that fail to comply with the Bank Secrecy Act do so at their own peril, say Wade Thomson and E.K. McWilliams of Jenner & Block.
Given last year's U.S. Supreme Court ruling that the U.S. Securities and Exchange Commission administrative law judge who tried Raymond Lucia's case had not been constitutionally appointed, Lucia should not be facing an SEC ALJ again on remand, says Joel Nolette of Mintz.
The Delaware Court of Chancery’s recent decisions in Schnatter, Tempur-Sealy and CHC Investments further delineate the metes and bounds of a stockholder's right to obtain a company's books and records, say attorneys with Winston & Strawn.
U.S. Supreme Court oral arguments Monday in Emulex v. Varjabedian — a case that could alter the landscape of tender offer litigation under Section 14(e) of the Securities Exchange Act — confirmed the potentially significant nature of the forthcoming decision, as well as the justices’ sharp divide on the issues, say attorneys with Ropes & Gray.
A recent Law360 article reported on federal judges bemoaning jury trials' nationwide decline, but these laments are unfounded as jury trials have been replaced by better alternatives, says J.B. Heaton of J.B. Heaton Research.
Silver Spur v. Trussway is the latest appraisal case in which the Delaware Chancery Court relied on the discounted cash flow methodology and reached a similar result to the market-based valuation. There is now a greater risk of appraisal results being close to or below the merger price, say attorneys at Fried Frank.
Recent U.S. Securities and Exchange Commission staff guidance asked mutual funds to postpone the effective date of their registration statements if they are unable to respond to staff comments in a timely fashion. But complying with such a request could leave a fund without an effective registration statement, say Gretchen Passe Roin and Seth Davis of WilmerHale.
The Ninth Circuit's recent decision in Wadler v. Bio-Rad falls within a larger pattern of federal courts interpreting whistleblower protection statutes narrowly — especially when employees raise allegations about international business and potential Foreign Corrupt Practices Act violations abroad, say Daniel Wendt and Amelia Hairston-Porter of Miller & Chevalier.
Instead of going to college after high school, I followed in my father’s footsteps and became an electrician. Later I became an electrical engineer, and then an IP attorney. Every twist and turn along the way has made me a better lawyer, says Joseph Maraia of Burns & Levinson.