A convicted trader has been granted access to chatroom transcripts before he gives testimony on behalf of institutional investors suing some of the world's largest banks for allegedly conspiring to manipulate the foreign exchange market.
A China-based holding company made COVID-19-related changes to its hotel business and was not transparent about its struggles with a deed fraudster, relieving a Korean investment company of its obligation to buy 15 hotels for $5.8 billion, a Delaware vice chancellor ruled Monday.
A New York federal judge on Monday signaled he would again delay the trial of former associates of Rudy Giuliani accused of campaign finance charges and bilking investors, in light of the COVID-19 pandemic and ensuing trial backlog.
Saying she's "troubled" by an Anthem affiliate's conduct in allegedly unjustifiably holding back $99 million in escrowed funds from its acquisition of three companies, a Delaware Chancery judge allowed discovery on the matter to advance Monday as she weighs the sellers' bid to recover attorney fees.
A New York federal judge questioned Monday whether FanDuel Inc. and private equity firms Shamrock Capital Advisors LLC and KKR & Co. were asking FanDuel's founders and several former shareholders to meet too high a standard in a bid to toss claims they conspired with conflicted directors to cut the founders and common shareholders out of the fantasy sports company's 2018 merger with Paddy Power Betfair PLC.
Wall Street's top trade group said Monday that it stands by the U.S. Securities and Exchange Commission's proposed data security enhancements for a long-awaited market surveillance tool, though it encouraged the regulator to go a bit further.
A Seventh Circuit panel Monday pressed a group of investors trying to revive claims against the Chicago Board Options Exchange to show how they were injured by alleged manipulation of Cboe's volatility index if the tampering harmed some traders but benefited others.
A New York federal judge on Monday trimmed claims in a $2.1 million breach of contract dispute over six janitorial and cleaning companies, letting a French company out of the litigation but keeping American companies in the suit.
Chicago-based Mayer Brown LLP continued to add to its ranks this November, recruiting a former senior adviser at the U.S. Securities and Exchange Commission for its capital markets and corporate and securities practices.
A shareholder of title insurance company First American Financial Corp. has filed a derivative complaint in Delaware federal court alleging the company's officers and directors allowed a security breach to expose more than 885 million sensitive records, making customers vulnerable to fraud and identity theft.
The Federal Reserve said Monday four of its coronavirus emergency lending facilities aimed at supporting short-term funding markets will be kept open past the end of the year, an extension that comes as the Trump administration has moved to let the central bank's other related programs expire.
Bernstein Litowitz Berger & Grossmann LLP didn't let the nationwide shift to teleworking in 2020 hinder its ability to secure nine-figure investor recoveries, including landmark securities settlements that addressed Equifax's 2017 data breach and allegations of sexual harassment at Signet Jewelers, landing it a spot among Law360's Securities Practice Groups of the Year.
A London-based firm that made more than $500 million in trading profits when U.S. oil prices went negative in April told an Illinois federal court it's not to blame for the historic demand slump, which it characterized as a byproduct of the coronavirus pandemic.
A British benchmark administrator laid out its timetable on Monday for winding down all financial contracts in U.S. dollars that are tied to the London Interbank Offered Rate, which has been tarnished by scandal.
Law360 congratulates the winners of its 2020 Practice Groups of the Year awards, which honor the law firms behind the litigation wins and major deals that resonated throughout the legal industry in the past year.
The eight law firms topping Law360's Firms of the Year managed to win 54 Practice Group of the Year awards among them, for guiding landmark deals, scoring victories in high-profile disputes and helping companies navigate uncharted legal seas made rough by the coronavirus pandemic.
The Second Circuit revived a securities suit against China-based TAL Education Group on Wednesday after finding investors had sufficiently supported their claims that TAL secretly controlled two companies in which it had invested.
Norwegian Cruise Line slammed investors' claims that it ran a "top-down" deceptive sales campaign downplaying the COVID-19 pandemic to prospective customers in order to stave off revenue losses, maintaining that it doesn't have to disclose allegedly aggressive sales practices.
Former employees of the country's largest Coca-Cola bottler have hit the company, its board and its benefits committee with a proposed class action in North Carolina federal court, alleging they mismanaged their retirement portfolio and participated in a "glaring breach" of their fiduciary duties under the Employee Retirement Income Security Act.
LibreMax Capital is reportedly hoping to sell a $78.6 million New York loan it made earlier this year, the Mattos family has reportedly paid $20.45 million for a Florida retail property and Morgan Stanley is said to have provided $180 million in CMBS financing for a New York office property.
The Financial Industry Regulatory Authority levied a "books and records" fine at a Wells Fargo unit for the second time this month on Wednesday, this time alleging that its representatives failed to enter accurate order receipt times in situations that required manual entry.
Creditors of bankrupt cryptocurrency investment venture Cred Inc. lost a bid Wednesday to have the Delaware Bankruptcy Court order certain currency exchanges to freeze assets they say are linked to fraudulent diversions from the company.
A Florida-based investment adviser accused of bilking investors out of almost $2 million escaped an investor suit on Wednesday after a judge ruled that the investor had failed to timely serve the lawsuit on the adviser.
A California federal judge ordered a businessman to pay over $192,000 to settle U.S. Securities and Exchange Commission claims that he was involved in a scheme that bilked more than 400 investors out of $25.5 million to ostensibly finance two marijuana-related businesses.
Appeals courts will take on several important insurance coverage issues in 2020's final month, with the Delaware Supreme Court set to weigh whether an excess insurer must contribute to Dole's $222 million settlements of stockholder suits and Indiana's high court primed to consider whether a ransomware attack is covered by crime insurance. Here, Law360 breaks down four insurance appeals attorneys will be watching in December.
The Delaware Chancery Court's recent decision in Mindbody illustrates how courts assess alleged management conflicts in M&A litigation, but the case's core lesson is the need for boards of directors to uncover and manage actual and potential conflicts of interest in the sale process — in particular, those of the lead negotiators, say Tyler O'Connell and Albert Carroll at Morris James.
Attorneys can use a new predeposition meet-and-confer obligation for federal litigation — taking effect Tuesday — to better understand and narrow the topics of planned testimony, and more clearly outline the scope of any discovery disputes, says James Wagstaffe at Wagstaffe von Loewenfeldt Busch.
Congressional investigations in the health care, financial services, fossil fuel and technology sectors are likely to intensify next year amid a highly partisan environment, and companies that may be targets should get ready for testimony and document production well before an inquiry, say attorneys at Hogan Lovells.
Attorneys at Morgan Lewis discuss how quickly companies may see policy changes from new leadership at the U.S. Department of Treasury, U.S. Department of Justice, U.S. Department of Labor, U.S. Equal Employment Opportunity Commission and National Labor Relations Board after the Biden administration takes office.
Other corporations may follow MicroStrategy's lead and invest in problematic Bitcoin, in what appears to be a new chapter of irresponsible corporate behavior, says cybersecurity consultant John Reed Stark.
Many organizations are making plans for executives to go into government jobs, or for government officials to join a private sector team, but they must understand the many ethics rules that can put a damper on just how valuable the former employee or new hire can be, say Scott Thomas and Jennifer Carrier at Blank Rome.
President-elect Joe Biden's U.S. Securities and Exchange Commission will almost certainly usher in a reversal of recent years' slow pace of auditor enforcement — just 11 actions this year — back up toward the levels of the Obama administration's Operation Broken Gate, say Charles Smith and Andrew Fuchs at Skadden.
While the Delaware Supreme Court's recent decision in Solera is a blow for companies in the state seeking protection for certain key appraisal proceedings, the ruling hinges on the insurers' narrow definition of a violation that will trigger directors and officers coverage for securities-related claims, making it unlikely that other jurisdictions will follow suit, say attorneys at Hunton.
As the pandemic brings a variety of legal stresses for businesses, lawyers must understand the emotional dynamic of a crisis and the particular energy it produces to effectively fulfill their role as advisers, say Meredith Parfet and Aaron Solomon at Ravenyard Group.
Companies shouldn't fear a rapid uptick in overall corporate enforcement actions by the U.S. Department of Justice under a new Democratic administration, but should anticipate a shift in focus away from immigration cases toward COVID-19-related fraud and civil rights reform, say Sandra Moser and Kenneth Polite at Morgan Lewis.
Richard Finkelman and Yihua Astle at Berkeley Research Group discuss the ethical and bias concerns law firms must address when implementing artificial intelligence-powered applications for recruiting, conflict identification and client counseling.
Ahead of President-elect Joe Biden's appointment of a new U.S. Securities and Exchange Commission chair, Silicon Valley should expect greater scrutiny of whistleblowers, earnings management, risk disclosures and insider trading — all potentially influenced by the federal courts in serving as a check on the agency's enforcement, say attorneys at MoFo.
Attorneys should consider the pros and cons of participating in virtual court proceedings from home versus their law firm offices, and whether they have the right audio, video and team communication tools for their particular setup, say attorneys at Arnold & Porter.
As the U.S. Securities and Exchange Commission clamps down on fraudsters seeking funding for pandemic-related products and services, several warning signs can help identify investment scams, says Alan Rosca at Goldman Scarlato.
Attorneys considering blowing the whistle on False Claims Act violations by recipients of COVID-19 relief may face a number of ethical constraints on their ability to disclose client information and file qui tam actions, say Breon Peace and Jennifer Kennedy Park at Cleary.