Perrigo Company PLC announced Wednesday that it closed a Reed Smith LLP-steered deal to acquire a minority equity stake in a CBD supplier for $50 million, as well as an agreement with the supplier that will allow the Irish pharmaceutical company to launch CBD products.
A Manhattan federal judge on Tuesday pared down a proposed class action alleging biotech company Acer Therapeutics and two of its executives misrepresented its conversations with the U.S. Food and Drug Administration, which allegedly hurt Acer investors after the regulator rejected a new drug application the company filed.
An Illinois federal judge on Tuesday denied a request from the former CEO of the now-defunct Mt. Gox bitcoin exchange to rule in his favor in a yearslong suit over the company's demise because the customer suing him switched legal theories midcase.
Rialto Capital Advisors has reportedly provided some relief for the borrower of $300 million CMBS debt for a Florida hotel, Inter Miami CF's owners are said to be eyeing a massive mixed-use project near Miami International Airport, and Baywood Hotels has reportedly landed a $31.3 million loan for a Miami project.
Trading in shares of bankrupt Hertz Global Holdings Inc. halted Wednesday after U.S. Securities and Exchange Commission Chairman Jay Clayton noted during a televised interview that agency staffers had issues with the car rental company's plans to sell up to $1 billion in stock while in Chapter 11.
European Union banks rely heavily on carbon industries and will face huge losses if the sector moves away from investing in companies that create pollution, the bloc's central bank warned on Wednesday as it urged lenders to prepare for climate risks.
A former investment adviser who successfully argued before the U.S. Supreme Court that the administrative law judge in his U.S. Securities and Exchange Commission proceedings was appointed unconstitutionally has agreed to pay $25,000 to settle his case with the SEC, ending eight years of litigation, according to Tuesday SEC filings.
Morgan Stanley's former chief of diversity sued the investment firm Tuesday in Brooklyn federal court, claiming her efforts to advocate for employees and job candidates of color were stymied and she was eventually fired for complaining about racial inequality.
Four firms, including Pomerantz LLP and Glancy Prongay & Murray LLP, have placed bids to represent iAnthus Capital Holdings Inc. investors over claims the cannabis company tried to use the coronavirus pandemic to explain away a missed $4.4 million interest payment.
A Florida federal judge barred a lawyer and her husband from serving as an officer or director of a public company and trading penny stocks in judgments entered Tuesday in a U.S. Securities and Exchange Commission case over a pair of microcap schemes.
Wells Fargo will pay $20 million to end claims by Maryland's attorney general that the financial services firm misled investors regarding its residential mortgage-backed securities during the housing crisis, the state office announced Tuesday.
Prosecutors in Paris appointed an investigative judge to examine whether France's government illegally gave Société Générale SA a €2.2 billion ($2.5 billion) tax credit in the wake of a historic trading scandal inside the investment bank.
A New York federal judge on Tuesday approved a $77.3 million award for Lowey Dannenberg PC and Scott & Scott LLP for their roles as co-lead counsel in five class action settlements resolving claims of a price-rigging scheme for bonds issued by Fannie Mae and Freddie Mac.
A Wall Street reform group Tuesday called on the U.S. Securities and Exchange Commission to make public companies disclose how they are protecting workers from COVID-19, saying that the information is critical to investors and public health.
Three brothers suing the firm that bought their environmental consulting company haven't shown that it misrepresented the value of preferred stock exchanged in the sale, the Seventh Circuit said on Tuesday.
A biotech company has asked the Fourth Circuit to toss a $22 million defamation verdict stemming from a proxy fight with a former pharmaceutical executive, arguing there was no basis for what the company said was the largest-ever defamation award in the circuit.
An objector to the Wells Fargo settlement over fake accounts should be sanctioned along with his attorneys at Ridley McGreevy & Winocur PC and made to repay $1.75 million they "extorted" from the bank, the lead plaintiffs told a California federal court.
Investors who settled claims with digital asset startup ATBCoin LLC urged a New York federal judge on Tuesday to enforce the $250,000 deal, saying a letter filed by the company following the settlement agreement offered no explanation of ATBCoin's "sudden inability to pay."
The Second Circuit on Tuesday agreed with a lower court's finding that the terms of a settlement agreement bar investors swindled by infamous Ponzi schemer Bernie Madoff from going after the estate of his late associate.
A co-founder of cryptocurrency company Centra Tech Inc. on Tuesday admitted to charges of conning investors in a $25 million initial coin offering to fund a digital currency payment card he and others falsely claimed was backed by major payment processors including Visa Inc.
The D.C. Circuit ruled Tuesday that the U.S. Securities and Exchange Commission does not have the authority to implement a two-year pilot program examining the fees and rebates system used by major U.S. stock exchanges.
The head of the U.S. Securities and Exchange Commission is urging broker-dealers to focus their attention on COVID-19 and the resulting market volatility as the June 30 compliance deadline for Regulation Best Interest approaches, citing "concern" about pandemic-related and other risky investment recommendations.
The U.S. Securities and Exchange Commission will temporarily allow registered municipal advisers to sell municipal securities to qualified banks and credit unions through 2020, an effort to free up cash in small cities and towns amid COVID-19, the regulator said in an order issued Tuesday.
A California federal judge on Monday denied a request to order messaging and email platforms Twilio Inc. and Intercom Inc. to preserve data as evidence in a racketeering and cryptocurrency manipulation lawsuit against crypto exchange BitMEX, saying he expects the parties to save the information until the litigation ends.
U.S. Commodity Futures Trading Commission Chairman Heath Tarbert said he wants to "reinvigorate" his agency's principles-based approach to regulation where appropriate, according to a new white paper penned for the Harvard Business Law Review.
Even in the best of times, private investments in public equity may provide an attractive source of financing, but PIPEs are especially attractive in times of financial distress given the unavailability of traditional financing markets to many companies, say attorneys at Debevoise.
Because securities fraud tends to increase in times of crisis, financial institutions should be on the lookout for elder abuse red flags identified by the Financial Crimes Enforcement Network and U.S. Department of Justice, and shore up suspicious activity reporting, says Michael Napoli at Akerman.
For professors, trainers, lawyers, students and businesses grappling with the unexpected challenges of distance learning, trial attorney and teacher James Wagstaffe offers best practices for real-time online instruction.
Mortgage defaults and losses resulting from COVID-19 should be more limited than during the Great Recession, but nonetheless litigation may arise over mortgage servicing and origination practices, say members of Analysis Group.
Recent changes to term sheets for the Federal Reserve's Main Street Lending Program, allowing borrowers to utilize adjusted earnings before interest, taxes, depreciation and amortization, will increase the available loan amount and qualify more borrowers, says Keith Durkin at BakerHostetler.
While prosecutors have rarely pursued criminal bankruptcy fraud allegations against companies and executives, investigations invariably follow the money in pursuit of alleged fraud and thus bankruptcy is a natural area of focus in a financial crisis, say attorneys at Gibson Dunn.
There may be precious little notice before the legal community ramps up, so it's important to have return-to-work plans that address the unique challenges law firms will face in bringing employees back to offices, say attorneys Daniel Gerber, Barbara O'Connell and Richard Tucker.
The U.S. Securities and Exchange Commission's recent charge against a former Goldman Sachs U.K. executive over his role in a bribery scheme illustrates the importance of Foreign Corrupt Practices Act diligence that goes beyond representations of employees and others with an interest in a transaction, say John Murray and Shrutih Tewarie at Foley Hoag.
The virtual meeting of the U.S. Securities and Exchange Commission's Investor Advisory Committee earlier this month may shed light on additional actions the SEC could consider regarding the type of information public companies should provide to investors about the impact of COVID-19, say attorneys at Baker McKenzie.
Attorneys at Proskauer and Credibility International's president identify accounting and disclosure issues the U.S. Securities and Exchange Commission is most likely to examine post-crisis, and suggest some steps corporate issuers can take now to minimize regulatory scrutiny down the road.
To help prepare my students to navigate local practice, I wrote a set of rules for the classroom that mimics those they might encounter from a local judge or court, says Michael Zuckerman at Northwestern Pritzker School of Law.
General counsel may be tempted to resort to matter-level requests for proposals in the wake of the COVID-19 economic crisis, but alternatively, a singular, global RFP process — to select a panel of law firms for all legal needs — can reduce legal spend while fostering long-term relationships, say Vivek Hatti, formerly at Avis Budget Group, and Jaron Luttich at Element Standard.
The recent Luckin Coffee accounting fraud underscores the need for robust series processes and controls to prevent and detect financial misconduct as corporate growth slides and employment falls, say professionals at K2 Intelligence.
Attorneys at Debevoise discuss forms of shareholder litigation arising from the #MeToo movement, some early cases expressing skepticism of the claims, and recent actions that suggest renewed interest by plaintiffs and increased risk for companies.
Foreign investors can earn tax-free interest income on distressed debt issued by U.S. companies, as long as they steer clear of income classification pitfalls, says Seth Entin at Holland & Knight.