Securities

  • February 21, 2020

    Investors Sue Cincinnati Bell In Del. Over $2.6B Merger Plan

    Cincinnati Bell Inc. stockholders hit the company late Thursday with a proposed class action in Delaware federal court alleging disclosure shortcomings ahead of its $2.6 billion proposed acquisition by Toronto-based Brookfield Infrastructure Inc. and seeking a deal block or reversal.

  • February 21, 2020

    RMBS Investors Challenge US Bank's Early-Win Effort

    A set of investment vehicles that bought more than $665 million worth of notes in residential mortgage-backed securities trusts overseen by US Bank told a New York federal judge on Thursday not to be swayed by the bank’s recent attempt to dodge a breach of contract dispute.

  • February 21, 2020

    More Companies Likely To 'Test The Waters' Ahead Of IPOs

    More companies are taking advantage of the ability to communicate with select investors in order to gauge market interest before an initial public offering, a trend that lawyers expect to accelerate now that so-called "testing the waters" benefits are available to all companies.

  • February 21, 2020

    SEC And Ex-Exec Of Navistar Reach $500K Partial Settlement

    The former CEO of Navistar International Corporation has reached a $500,000 agreement with the U.S. Securities and Exchange Commission to partially settle claims that he hid the company’s struggles to meet federal environmental standards, government attorneys told an Illinois federal judge Friday.

  • February 21, 2020

    'Pharma Bro' Martin Shkreli Drops Suit Against Trial Witness

    “Pharma bro” Martin Shkreli dropped his fraud case against a witness at his criminal trial who is also the son of a former investor, according to a filing in New York federal court Thursday.

  • February 21, 2020

    Taxation With Representation: Davis, Skadden, Goodmans

    In this week's Taxation With Representation, Morgan Stanley buys E-Trade in a $13 billion deal, Canada's Northview Apartment REIT is sold for $3.6 billion, and Amherst Residential acquires fellow rental company Front Yard Residential for $2.3 billion.

  • February 21, 2020

    CBS Investors In #MeToo Suit Must Show Moonves Hurt Stock

    A Manhattan federal judge on Friday said a potential class of investors targeting CBS Corp. in relation to the #MeToo movement must prove former CEO Les Moonves made reassuring statements before revelations about his own alleged sexual misconduct tanked CBS shares.

  • February 21, 2020

    Wells Fargo Will Pay $3B To DOJ, SEC Over Sales Scandal

    Wells Fargo & Co. has agreed to pay a total of $3 billion to resolve criminal and civil investigations by the U.S. Department of Justice and U.S. Securities and Exchange Commission stemming from the banking giant’s sales practices scandal, federal officials said Friday.

  • February 21, 2020

    Mass. Securities Chief Sets Up State Rules, Blasting SEC Regs

    Massachusetts' top securities cop sharply criticized U.S. Securities and Exchange Commission broker standards as he announced Friday that the Bay State will implement its own conduct rules that are stricter than those set forth by the federal government.

  • February 21, 2020

    Cboe Investors Push For Appeal In VIX Manipulation Case

    Investors in the Chicago Board Options Exchange urged an Illinois federal judge to immediately enter final, and therefore appealable, judgment on an order ending claims over the alleged manipulation of the exchange's volatility index.

  • February 21, 2020

    Hecla Investor Wants Docs On Not-So-Golden $462M Mine Buy

    A Hecla Mining Co. investor told the Delaware Chancery Court on Thursday she wants the company's records to determine if its officers mishandled Hecla's $462 million purchase of three gold mines in Nevada that were supposed to be lucrative but turned out to be duds.

  • February 21, 2020

    Greenberg Traurig's $65M Deal In Stanford Ponzi Suit OK'd

    A Texas federal judge on Friday gave his blessing to Greenberg Traurig's $65 million settlement of claims related to its alleged involvement in a $7 billion scheme run by convicted Ponzi scammer R. Allen Stanford.

  • February 21, 2020

    Anheuser-Busch Wants Out Of 'Reflexive' Shareholder Suit

    Anheuser-Busch InBev SA/NV and two of its executives are seeking to end a proposed securities class action alleging fraud over a proposal to lower dividend payments to shareholders, telling a New York federal judge that such lawsuits are predictable, but that this one failed to show the beer company actually misrepresented anything.

  • February 20, 2020

    Ex-AIG Legal Worker Settles SEC's Insider Trading Claim

    A former AIG Inc. legal department employee and his father have settled U.S. Securities and Exchange Commission claims that they bought stock in Validus Holdings Ltd. based on the son's inside knowledge that AIG planned to buy the company, the agency said.

  • February 20, 2020

    Delaware Bench Balance Rule Is 'Offensive,' High Court Told

    An attorney challenging Delaware's judicial political parity rule told the U.S. Supreme Court on Thursday that a provision of the state constitution requiring equal representation of parties on the bench is "offensive to the First Amendment."

  • February 20, 2020

    Del. Judge May Dictate Fix For Zohar-Tilton Ch. 11 Dispute

    A Delaware bankruptcy judge left open the possibility Thursday of a court-fashioned alternative to competing plans for meeting a bankrupt creditor group’s demand for sales of nondebtor companies controlled by business turnaround mogul Lynn Tilton’s Patriarch Partners LLC.

  • February 20, 2020

    Paxos Starts Blockchain Settlement Service For US Equities

    New York-regulated Paxos Trust Company announced Thursday that it has partnered with Credit Suisse Group AG and Nomura’s Instinet LLC, the first two broker-dealers to use its blockchain-based settlement service, which will settle select equity trades based in the U.S.

  • February 20, 2020

    TransDigm Defeats Investor Suit Over Alleged Price-Gouging

    An Ohio federal judge ruled Wednesday that investors in TransDigm Group Inc. had fallen short in asserting securities claims against the aerospace manufacturing company for allegedly inflating profits by gouging the U.S. government.

  • February 20, 2020

    Ex-Raydon Worker's 'Animus' No Bar To Cert. In ESOP Suit

    A Florida magistrate judge recommended Thursday that an ex-Raydon employee be allowed to lead a class action suit over a $60.5 million employee stock ownership plan transaction, rejecting arguments that certification should be denied because of the worker’s “extreme personal animus.”

  • February 20, 2020

    Schemer Gets 6 Mos. For Playing PixarBio's Fraud 'Game'

    A judge sentenced a main player in PixarBio's fraud scheme to six months in prison on Thursday, saying the friend and former roommate of convicted company CEO Frank Reynolds thought their stock manipulation ploy was a mere "video game."

  • February 20, 2020

    CFTC Proposes Longer Deadlines For Swap Trading Reporting

    The U.S. Commodity Futures Trading Commission on Thursday proposed two rule changes regarding swap data reporting, including allowing large firms more time to disseminate information about block trades, among other changes intended to provide businesses more flexibility and simplify reporting.

  • February 20, 2020

    Leak Triggers Call For Sanctions In Priest's Short-Selling Suit

    Ligand Pharmaceuticals joined the U.S. Securities and Exchange Commission's call Wednesday to sanction a Greek Orthodox priest facing a short-selling suit for trying to “poison the well” with selective leaks to a Barron’s reporter of confidential documents.

  • February 20, 2020

    SeaWorld's $65M 'Blackfish' Class Action Settlement Wins OK

    A California federal judge has preliminarily approved SeaWorld Entertainment Inc.'s $65 million settlement of a securities class action related to the controversial 2013 documentary "Blackfish," saying he will likely give his final approval to the deal because it is fair and reasonable.

  • February 20, 2020

    Feds Fight Ponzi Schemer's Claims Of Ineffective Counsel

    A man who conspired with a Washington, D.C., attorney to run a Ponzi scheme involving investments in fake concerts can’t claim his lawyers were ineffective just because one couldn’t get a victim booted from his sentencing and made comments that offended him, prosecutors told a Pennsylvania federal court Wednesday.

  • February 20, 2020

    DC Judge Revives Visa Bid For Barchart Analyst

    A market analyst at data and technology services provider Barchart.com had his H-1B visa bid revived after a D.C. federal court found the government had failed to consider key evidence about the job’s requirements.

Expert Analysis

  • Del. Uber Ruling Reinforces High Bar To Prove Director Bias

    Author Photo

    The Delaware Supreme Court's recent dismissal of a stockholder action alleging conflicts among Uber's board demonstrates how unlikely it is that independent directors would be held personally liable for fiduciary breaches, say attorneys at Fried Frank.

  • And Now A Word From The Panel: MDLs Continue To Thrive

    Author Photo

    The Judicial Panel on Multidistrict Litigation created fewer new MDLs last year than the year before, but this belies an overarching storyline of growth — with proceedings encompassing over 130,000 individual actions pending at year's end, says Alan Rothman of Sidley.

  • Rebuttal

    AI Can't Accurately Predict Case Length And Cost — Yet

    Author Photo

    A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.

  • Boardroom Hot Topics: ESG, Purpose And Stakeholders

    Author Photo

    Public company boards of directors should recognize environmental, social and governance issues as a growing priority for investors, identify the purpose of their corporation, and consider focusing on a broader set of stakeholders, say Valeska Pederson Hintz and James O'Grady at Lowenstein Sandler.

  • Avenues Of Relief For Cybersecurity Whistleblowers Increase

    Author Photo

    Successful securities and False Claims Act lawsuits and a spate of state legislation over the past year have legitimized cybersecurity deficiencies as a basis for federal and state liability and strengthened protections for whistleblowers, says Matthew LaGarde of Katz Marshall.

  • Consumer Finance Poised For Greater Scrutiny From States

    Author Photo

    As state-level regulators step up consumer finance oversight to fill the void created by more restrained federal regulation in this area, financial institutions should keep an eye on developments and agencies in several key states, say attorneys at Hogan Lovells.

  • Lawyers Can Build Trust Through The Spoken Word

    Author Photo

    As attorneys, we may prefer the precision of written communication, but a phone call or an in-person conversation builds trust by letting others see and hear our authentic selves, rather than something constructed or scripted, says mediator Sidney Kanazawa of ARC.

  • Crypto Bill Offers Basic Definitions The Industry Needs

    Author Photo

    The U.S. House of Representatives' pending Crypto-Currency Act seeks to define today’s myriad digital assets and assign them to specific regulatory bodies, laying some of the requisite groundwork for industry oversight that has so far been lacking, says Fabio Canesin of Nash.

  • Opinion

    Legal Prediction Is Demanding But Not Impossible

    Author Photo

    The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.

  • Trends In Recent FCPA And Cartel Cases Against Execs

    Author Photo

    The U.S. Department of Justice has taken more white collar cases against executives to trial this winter, focusing on Foreign Corrupt Practices Act and cartel allegations, and scoring noteworthy victories in a canned tuna price-fixing case and two rate-rigging cases, say attorneys at Miller & Chevalier.

  • 5 Executive Compensation Considerations For Proxy Season

    Author Photo

    Companies preparing their 2020 proxy statements should keep several compensation plan and disclosure issues in mind on the heels of recent say-on-pay and executive remuneration policy updates from Institutional Shareholder Services and Glass Lewis, say attorneys at Pillsbury.

  • SEC Exam Priorities Highlight Flexible, Holistic Compliance

    Author Photo

    The U.S. Securities and Exchange Commission's recently released exam priorities encourage firms to emphasize investor protection and consider compliance in light of evolving business and market demands, say attorneys at Lowenstein Sandler.

  • Effective AML, Anti-Bribery Programs Hinge On Collaboration

    Author Photo

    Amid increasing risk exposure from financial services companies' partners, clients and affiliates, opportunities exist to leverage processes across firms' anti-money laundering and anti-bribery and corruption programs, says Michelle Goodsir at K2 Intelligence.

  • SEC Faces Several Hurdles In Telegram ICO Case

    Author Photo

    A New York federal court scheduled to hear U.S. Securities and Exchange Commission v. Telegram next week could hand the securities regulator its first loss related to initial coin offerings because the facts are so different from earlier ICO cases, says John Berry at Munger Tolles.

  • Malpractice Landscape Is Becoming Riskier For BigLaw

    Author Photo

    A recent survey of lawyers’ professional liability insurers revealed an increase in malpractice claims against law firms, suggesting clients will demand more accountability in the coming decade, say Gerald Klein and Amy Nguyen at Klein & Wilson.

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!