A group of roughly 270 real estate investors asked a federal bankruptcy judge in Delaware to pause the Chapter 11 liquidation plan of the Woodbridge Group of Cos. LLC while the creditors appeal a portion of the plan they believe extinguished their interests.
Nine West Holdings Inc. received New York bankruptcy court approval Tuesday to solicit votes from creditors on its plan to reorganize in Chapter 11 while certain stakeholders maintain that the fashion company's proposal to settle potential fraudulent transfer claims against owner Sycamore Partners is woefully inadequate.
The mother of self-described "frack master" Christopher Faulkner will pay a $10,000 sanction after misrepresenting a state lawsuit she filed against a court-appointed receiver that already resulted in a contempt finding against her, a Texas federal judge said Tuesday.
As many as 10 law firms filed competing motions Tuesday urging a New Jersey federal court to appoint them as lead counsel and their respective clients as lead plaintiffs in a proposed class action against Opko Health Inc. over its alleged role in a pump-and-dump scheme that ultimately dealt a financial blow to investors.
Attorneys for Uber and its directors told a Delaware vice chancellor Tuesday that stockholders who challenged the company’s disastrous, $680 million deal to buy self-driving truck startup Ottomotto failed to show that company directors were too conflicted to assess failures and pursue damages.
One of Tesla Inc.'s top securities lawyers has left the Silicon Valley-based electric car maker, less than two months after Tesla and its CEO Elon Musk agreed to pay the U.S. Securities and Exchange Commission $20 million apiece to resolve securities fraud claims.
A Texas judge permanently tossed an investor suit alleging pharmaceutical company XBiotech and its underwriters misled investors about its progress in clinical studies for its flagship product, in what is among the first dismissals of a Section 11 securities class action in a state court after the U.S. Supreme Court's Cyan ruling.
An investor in online payment firm JetPay Corp. filed suit Monday in Delaware federal court, saying disclosures made by the company and its directors regarding its proposed acquisition by NCR Corp. left out material information needed by shareholders before voting on the transaction.
A proposed class of Teva Pharmaceutical Industries Ltd. shareholders urged a Connecticut federal court Monday to keep alive their allegations that the Israeli drugmaker falsely indicated that profit growth was driven by “fundamental business strategies” rather than at least 76 price hikes.
Defendant David Johnston took the witness stand Tuesday in Boston federal court and told jurors the government was correct that his former company, Aveo Pharmaceuticals Inc., chose not to tell investors about the U.S. Food and Drug Administration's recommendation for a new clinical trial for its flagship kidney cancer drug, Tivo.
The former CEO of a medical optics firm accused of passing insider information to a former Baltimore Orioles player reached a $1.5 million deal with the U.S. Securities and Exchange Commission, according to papers filed in California federal court Tuesday.
Ulta Beauty Inc. has urged an Illinois federal court to wipe out a proposed class action over a stock plunge that followed reports employees were pressured to resell returned makeup, saying there is no allegation that its top executives were behind the purported policy.
Volkswagen AG shareholders have pushed back against the carmaker's bid to escape antitrust and securities fraud charges in a proposed class action, telling a New York federal court that they properly backed their argument that the German automaker engaged in illegal conduct.
A shareholder class claiming biotech company NantKwest hid millions of dollars in executive compensation expenses from investors prior to its 2015 initial public offering has reached a $12 million proposed settlement with the firm, according to a filing in California federal court.
A former biostatistician at Merrimack Pharmaceuticals Inc. was sentenced to six months in prison and one year of supervised release Tuesday after he maintained his innocence on insider trading charges in Boston federal court.
The U.S. Supreme Court said Tuesday it will not review a First Circuit ruling that an ex-CEO at a behavioral health company who supposedly pursued a merger out of self-interest must disgorge $3 million to shareholders, even though a Massachusetts federal jury initially found the investors weren’t financially harmed.
A judge in London has rejected an attempt by a debt management company to use documents that HSBC PLC disclosed in U.K. proceedings as it considers whether to sue two of the bank’s units in the U.S. over allegations of "serious wrongdoing" in the foreign exchange markets.
Wells Fargo Bank NA announced Friday it will pay $43 million to end allegations it failed to protect investors from billions of dollars in losses as the trustee for hundreds of residential mortgage-backed securities, a deal reached with certain institutional buyers, including funds affiliated with BlackRock Inc. and PIMCO.
Democratic senators have questioned the legality of President Donald Trump's appointment of a Mueller critic to replace Attorney General Jeff Sessions, but it may take someone directly affected by what new acting Attorney General Matthew Whitaker does on immigration or other policy issues to challenge his appointment.
Three secured creditors of $630 million collateralized debt obligation vehicle Taberna Preferred Funding IV Ltd. can't force the entity into involuntary bankruptcy, a New York bankruptcy court has ruled, because their notes are nonrecourse and therefore only give their holders claims against Taberna's collateral, not the entity itself.
Since the oldest members of Generation Z aren’t even finished with law school yet, law firm management is in a unique position to prepare for their entrance into the legal workforce, says Eliza Stoker of Major Lindsey & Africa.
The U.S. Securities and Exchange Commission's recent proposals to improve disclosures about variable annuities and variable life insurance contracts should go a long way in enhancing the investment experience for retail investors, say Ronald Holinsky of Lincoln Financial Group and Robert Robertson of Dechert LLP.
Defense counsel often take approaches that reflect misperceptions of how the U.S. Securities and Exchange Commission enforcement game is really played. It is a complex process susceptible to mismanagement by even the most capable or well-intentioned attorney, says Daniel Hawke of Arnold & Porter.
In this series featuring law school luminaries, Yale Law School lecturer and Pulitzer Prize-winning reporter Linda Greenhouse discusses her coverage of the U.S. Supreme Court, the conservatives' long game and trends in journalism.
A major securities fraud case now before the U.S. Supreme Court — Lorenzo v. U.S. Securities and Exchange Commission — marks the first of many opportunities the court will have to roll back expansive interpretations of securities law and deter plaintiffs from filing low-quality complaints, say attorneys with Mintz Levin Cohn Ferris Glovsky and Popeo PC.
Attorneys should think beyond the Veterans Day parades and use their time and talents to help the many veterans facing urgent legal issues, says Linda Klein of Baker Donelson Bearman Caldwell & Berkowitz PC.
Determining appropriate valuations for various types of assets has always been a part of litigation. Cryptocurrencies and initial coin offerings are challenging existing valuation models with a new set of issues, says Ryan Donahue of Digital Asset Strategies.
As the growth of foreign direct investments in the U.S. continues, companies and their employees should focus on the risk that they are interacting with “foreign officials” — as defined by the Foreign Corrupt Practices Act and the courts — even if that interaction takes place entirely within the U.S., say attorneys with King & Spalding LLP.
The decision last month by Baker McKenzie’s global chairman to step down due to exhaustion indicates that the legal profession needs to mount a broader wellness effort to address long hours, high stress, frequent travel and the daily demands of practice, says Leesa Klepper, director of Thrivewell Coaching.
The U.S. Securities and Exchange Commission's fiscal 2018 enforcement report, released last week, reveals an active Division of Enforcement focused on cases impacting retail investors as well as actions related to emerging technologies, say attorneys with Debevoise & Plimpton LLP.