Try our Advanced Search for more refined results
Capital Markets
-
April 01, 2024
Cybersecurity Heads Back SolarWinds' Push To Nix SEC Suit
Cybersecurity experts from dozens of private companies decried the U.S. Securities and Exchange Commission's lawsuit against SolarWinds and its cybersecurity head, arguing the unprecedented effort to hold the pair accountable for a 2020 cyberattack could undermine U.S. national security.
-
April 01, 2024
Cooley, Latham Guide Data Security Firm Rubrik's IPO Filing
Venture-backed data security firm Rubrik Inc. on Monday filed long-awaited plans for an initial public offering, represented by Cooley LLP and underwriters counsel Latham & Watkins LLP, marking the latest sign of a recovering IPO market.
-
April 01, 2024
Chinese Investment Fund Looks To Enforce $4.4M Award
A Chinese investment fund has asked a California federal court to enforce a $4.4 million arbitral award against a businessman, saying he reneged on his promise to acquire a stake in an energy management company and now won't appear before an arbitration tribunal.
-
April 01, 2024
Nasdaq Sank Minority-Led SPAC's Tech Co. Merger, Suit Says
The Nasdaq Stock Market along with in-house lawyers and other executives face claims they "arbitrarily and capriciously" abused their discretion to unfairly undermine a merger plan for a minority-led special purpose acquisition company seeking to bring a minority-led technology company onto the stock market.
-
April 01, 2024
Investors Group Says New EB-5 Guidance Violates APA
A trade association of EB-5 visa regional centers brought U.S. Citizenship and Immigration Services into D.C. federal court, accusing the agency of abruptly changing the minimum investment period for foreigner investors seeking green cards without soliciting public comments.
-
April 01, 2024
Optical Co. Beats Investor Suit Over Pandemic Staffing Levels
A Georgia federal judge has permanently tossed an investor suit accusing National Vision of failing to disclose issues with its staffing levels during the pandemic, saying the investors did not adequately plead that any of the challenged statements allegedly made by the optical company were false or misleading.
-
April 01, 2024
SEC Wins $93M Judgment Against Commonwealth Financial
A Massachusetts federal judge has handed victory to the U.S. Securities and Exchange Commission by ordering Commonwealth Financial Network to pay $93.2 million due to its "egregious" failure to disclose conflicts of interest to clients who could have used that information to invest in lower cost mutual funds.
-
April 01, 2024
Catching Up With Delaware's Chancery Court
Last week, Delaware's Court of Chancery saw a $42.5 million settlement, dismissal of two big suits with two more remanded back, and new cases from shareholders of Walt Disney, Donald Trump's Truth Social, Rivian Automotive and BarkBox.
-
April 01, 2024
Trump's Truth Social Florida Suit Leaves Del. Judge 'Agog'
A Florida lawsuit pitting Donald Trump's social media company against the two former "Apprentice" contestants who helped the former president create the Truth Social platform has flummoxed a Delaware Chancery judge, who said Monday the litigation left him "dumbfounded."
-
April 01, 2024
Spinning For Terraform Was Tough, Crypto Rep Tells Jury
A California man who worked for Terraform Labs and creator Do Kwon told a Manhattan federal jury Monday that doing public relations for the now-bankrupt cryptocurrency startup accused of fraud left him "angry" and confused as he tried to be transparent.
-
April 01, 2024
Gunderson-Led Contineum Joins Pipeline Eyeing $150M IPO
Contineum Therapeutics Inc. launched plans Monday for an estimated $150 million initial public offering, represented by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP and underwriters counsel Sidley Austin LLP, hoping to join a nascent recovery for the IPO market.
-
April 01, 2024
Colo. Judge Pleads For Brevity In Palantir Shareholder Suit
A Colorado federal judge has dismissed without prejudice a shareholder suit against software and analytics company Palantir Technologies, criticizing the redundancy and excessive length of the complaint, and chastising the plaintiffs for seemingly expecting him to sift through alleged fraudulent statements for them.
-
April 01, 2024
Fed Beats Crypto-Focused Bank's Master Account Suit
The Federal Reserve Bank of Kansas City has defeated a suit brought by crypto-focused Custodia Bank over its battle for a so-called master account, with a Wyoming federal judge ruling that Custodia's reading of the law doesn't show it's statutorily entitled to such an account because Congress does not "hide elephants in mouse holes."
-
April 01, 2024
Last Hemp Co. Exec Agrees To SEC Injunction In $14M Scam
A CanaFarma Hemp Products Corp. co-founder who pled guilty to claims that he lied about the company's prospects in order to raise $14 million has become the last of four executives to reach a partial agreement resolving the U.S. Securities and Exchange Commission's civil claims.
-
April 01, 2024
GE Vernova Spinoff Approved, Valued At $35.7B
General Electric Co. said its board has approved the previously announced spinoff of its electric power business GE Vernova, setting the new company up to begin trading on the New York Stock Exchange on April 2.
-
April 01, 2024
Masimo Rips Politan's New Attempt To Grab Board Seats
Medical technology company Masimo Corp. on Monday pushed back against activist allegations of broken governance and lack of independent oversight, saying investor Politan Capital Management LP's plans to oust its current chairman and CEO contradict shareholders' best interests.
-
March 29, 2024
Hogan Lovells Vet's High Court Debut A Study In Contrasts
Several weeks ago, when a Hogan Lovells lawyer finally delivered U.S. Supreme Court arguments after 20 years at the firm, she parsed arcane arbitration issues and her words weren't widely heard outside the courtroom. But weeks later and back at the high court podium, her words were heard nationwide when she pointedly spotlighted a judge's use of "anonymous blog posts" in a bombshell abortion ruling.
-
March 29, 2024
Alleged 'Shadow Trader's Co-Worker Tells Jury Stocks Not Tied
A co-worker of an ex-Medivation executive accused of "shadow trading" in rival Incyte's stock testified Friday as the first defense witness in his California federal civil trial, telling jurors that the two companies weren't competitors and that he wouldn't expect their stock prices to rise in tandem.
-
March 29, 2024
What's Next On Courts' Crypto Docket After Bankman-Fried
The 25-year prison sentence for FTX founder Sam Bankman-Fried left the crypto industry one step closer to putting the fallout of "crypto winter" behind it, but there are still other cases with broad implications for the industry set to take over Manhattan courtrooms soon.
-
March 29, 2024
HJ Sims Honoring Books And Records Settlement, Court Told
The daughter of a seven-decade employee of Herbert J. Sims & Co. Inc. has withdrawn a books and records suit against the investment bank and its owner, The Teksys Corp., telling a Connecticut state court that she is now satisfied that the defendants have abided by the terms of a November settlement.
-
March 29, 2024
Liberty Sues SEC Again Over Climate Disclosure Regs
Liberty Energy Inc. filed a complaint against the U.S. Securities and Exchange Commission in Texas federal court, marking the company's second attempt at challenging the agency's corporate climate disclosure regulations after its previous Fifth Circuit petition was transferred to the Eighth Circuit.
-
March 29, 2024
Innoviz's $1.4B SPAC Deal 'Abysmal,' Investor Tells Chancery
A former stockholder of the special purpose acquisition company that took autonomous vehicle software provider Innoviz public has sued the architects behind the $1.4 billion merger in Delaware's Court of Chancery, accusing them of unjust enrichment and breaches of fiduciary duty and calling the transaction "abysmal" for investors.
-
March 29, 2024
Hedge Fund Beats Vaxart Investor's 'Short-Swing' Profits Suit
A New York federal judge has granted a win to hedge fund Armistice Capital LLC and its managing member in a derivative suit brought by a shareholder of biotechnology company Vaxart Inc., which sought disgorgement of short-swing profits that allegedly were wrongfully obtained by the investment adviser.
-
March 29, 2024
Up Next After Bankman-Fried Sentencing: FTX Cooperators
Now that FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison for an $11 billion fraud on the collapsed crypto exchange, it's time for the three top lieutenants who testified against him at trial to face their own judgments — and experts say the cooperators are well positioned to avoid jail time.
-
March 29, 2024
Cannabis Co. Consultant Barred From Penny Stock Trading
A Florida federal judge has barred a self-designated consultant for a cannabis company from penny stock trading for life, finding that he knowingly put out statements claiming the company had deals to do business in countries where it was not legally allowed to sell cannabis products.
Expert Analysis
-
Series
Baking Bread Makes Me A Better Lawyer
After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.
-
Federal Courts And AI Standing Orders: Safety Or Overkill?
Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.
-
7 E-Discovery Predictions For 2024 And Beyond
The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.
-
Securities Class Actions Show No Signs of Slowing In 2024
Plaintiffs asserted securities class actions at elevated levels in 2023 — a sign that filings will remain high in the year ahead — as they switched gears to target companies that allegedly have failed to anticipate supply chain disruptions, persistent inflation, rising interest rates and other macroeconomic headwinds, say attorneys at Skadden.
-
How Corp. Transparency Act Can Unmask Crypto Owners
With the federal Corporate Transparency Act in effect as of Jan. 1, litigants may now have a less burdensome path toward determining the identities of owners behind convoluted corporate entities, and, by extension, any digital assets they own that could be subject to a potential judgment, says Brett Sager at Ehrenstein Sager.
-
Adjusting Deals To Reflect Shifts In The CRE Market
As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.
-
ESG Concerns Can No Longer Be Ignored In 2024
While the long wait for the U.S. Securities and Exchange Commission's ESG rule continues, government attention to regulations, increased litigation efforts and shareholder resolutions seeking transparency highlight the importance of placing an emphasis on ESG considerations, say attorneys at Wollmuth Maher.
-
Opinion
Conflicts Abound When Activist Short-Sellers Publish Reports
The self-serving relationship between activist short-sellers and plaintiff-side litigators is conflict-ridden and hinders the fact finder's impartiality when a short report forms the basis for lead plaintiffs' allegations, say Nessim Mezrahi and Stephen Sigrist at SAR.
-
5 Litigation Funding Trends To Note In 2024
Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.
-
5 Securities Litigation Issues To Watch In 2024
There is yet another exciting year ahead for securities litigation, starting with the U.S. Supreme Court hearing argument next week in a case presenting a key securities class action question that has eluded review for the last eight years, say attorneys at Willkie.
-
A Look At Consumer Reporting In 2023, And What's To Come
The legal landscape of consumer reporting is evolving as courts, federal regulators and state legislatures continue to weigh in — and while last year may have seen a slight downtick in the overall volume of Fair Credit Reporting Act litigation, 2024 is set to be a watershed year for this area of the law, say attorneys at Troutman Pepper.
-
Securing Financial Transparency In Chapter 11 Reporting
As we enter the new year, restructuring professionals would be wise to review Chapter 11 public reporting requirements to navigate what debtors may do to try to minimize public reporting, and what creditors can do to get the public reporting they deserve by striking a balance between financial transparency requirements and tactical moves, say Thomas Moers Mayer and Nancy Bello at Kramer Levin.
-
4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
-
SEC Case May Expand Scope Of Insider Trading Liability
The U.S. Securities and Exchange Commission's first-of-its-kind enforcement action against an individual in a case involving "shadow trading" demarcates an expansion of insider trading liability to circumstances in which there is a market connection between the source of information and the issuer of the securities traded, say attorneys at Steptoe.
-
Securities Question Stands After Contradicting Crypto Rulings
The debate about the regulation of crypto-assets came to a head in 2023 when two New York federal judges came to opposite conclusions about whether crypto-assets were securities by using the Howey test, highlighting the uncertainty facing the crypto industry as it seeks to resolve definitional questions, say attorneys at Ballard Spahr.