Executives of a CBD company shouldn't be allowed to take back admissions they already made, an investor in the company told a Nevada federal judge in regards to his case against them.
Shareholders in digital government services company NIC Inc. are seeking to block a $2.3 billion merger with software provider Tyler Technologies Inc. from going ahead, claiming the company's board of directors misled investors, according to two suits in Delaware federal court.
If Gary Gensler is confirmed as the U.S. Securities and Exchange Commission's next chair, regulators could delve deeper into the explosion of blank-check entities and their subsequent acquisitions to examine where investor protections can be strengthened. Here are four areas where regulators could step up scrutiny of special purpose acquisition companies.
The court-appointed receiver of Stanford International Bank asked a Texas federal judge late Thursday to enter a final judgment in his $79 million fraudulent transfer clawback claim against a group of the bank's investors after a Fifth Circuit panel mandated a return of the funds.
An OPKO Health shareholder hit the biotech company's top brass, including its billionaire chairman Phillip Frost, with a derivative lawsuit in Florida federal court on Friday for allegedly falling short on its commitments to diversify its leadership team.
Investment bank Raymond James & Associates opposed on Thursday a proposed $8 million settlement that would resolve claims against law firms implicated in the failed Jay Peak ski resort EB-5 immigrant investor scam, arguing that the deal doesn't account for its entitlement to 75% of the resort receiver's proceeds.
A former Morgan Stanley financial adviser will not be allowed out of prison due to COVID-19 risks, a judge said Friday, citing the "irony" of the convicted man asking to care for his aging parents after swindling an elderly victim in a "despicable" fraud scheme.
A California federal judge has declined to sanction an objector to a Wells Fargo settlement over fake accounts after investors accused the objector and his attorneys of extorting $1.75 million from the bank, saying the court won't order disgorgement of a settlement reached in a state court lawsuit.
The full Ninth Circuit won't review a panel's recent finding that Tesla's blunt warnings about production challenges for its Model 3 sedan nullified proposed class claims that the electric carmaker intentionally misled investors by covering up manufacturing bottlenecks and capacity problems.
The Delaware Supreme Court issued a landmark ruling March 3 that state law does not excuse a Dole directors and officers insurer from covering the food company's settlements of fraud-based claims, a decision that will aid other Delaware corporations in similar disputes with their D&O carriers.
The U.S. Securities and Exchange Commission filed suit against AT&T and three of its investor relations executives Friday for allegedly making selective disclosures of nonpublic information to research analysts.
In this week's Taxation With Representation, cloud company Okta buys identity authentication company Auth0 for $6.5 billion, Las Vegas Sands sells property holdings for $6.3 billion, and insurance technology company Hippo inks a $5 billion merger.
Bankrupt car parts maker Garrett Motion Inc. told a New York bankruptcy judge Friday that it has reached a deal with shareholders to increase their share of the reorganized company in exchange for their support for the Chapter 11 plan.
Second Circuit Judge Peter W. Hall took senior status on Thursday, giving President Joe Biden a third opening on the New York-based appeals court and his first opportunity to "flip" a circuit to a majority of Democratic appointees.
The past week in London has seen Scotland's ferry services sue its insurer, Britain's new high-speed rail service face another contract challenge and an ex-Qatari prime minister's company hit with a new suit. Here, Law360 looks at those and other new claims in the U.K.
Antivirus software innovator John McAfee and his bodyguard have been indicted on fraud and money laundering conspiracy charges for fraudulently touting various cryptocurrencies on Twitter to further two separate schemes, Manhattan federal prosecutors said Friday.
A New York federal judge on Thursday threw out a consolidated shareholder lawsuit against Bank of America, Morgan Stanley and two former Merrill Lynch traders over alleged spoofing in the precious metals futures market, ruling that the shareholders waited too long to bring their claims.
A Nevada federal judge on Wednesday axed a China-based auto dealer's legal malpractice suit against DLA Piper, finding the firm is not subject to general jurisdiction in Nevada since it doesn't have any offices, employees or property in the state.
Wells Fargo has urged a California federal court overseeing a putative securities fraud class action to reject a request by investors that the bank reveal communications it had with Gibson Dunn, arguing that the documents are protected by attorney-client privilege.
The founder of Centra Tech Inc. on Thursday was sentenced to eight years in prison over a scheme that conned victims into investing more than $36 million into the cryptocurrency company that claimed to offer a digital currency payment card.
A former Maryland bank CEO is moving to appeal a recent refusal by the Office of the Comptroller of the Currency to revisit an agency administrative proceeding that he settled more than five years ago, a case he argues was unconstitutionally presided over under the U.S. Supreme Court's Lucia decision.
The architect of a failed venture in the cannabis industry seeks to end claims he defrauded an investor, arguing that the federally illegal nature of his business, and his investor's knowledge of that illegality, means the suit against him should be dismissed with prejudice.
The Boeing Co.'s leadership struggled on multiple fronts to get ahead of negative news about the company's 737 Max jetliners after one of them crashed in late 2018, according to documents released Thursday in a Delaware Chancery Court stockholder lawsuit.
A California federal magistrate judge overseeing a bench trial on whether PricewaterhouseCoopers LLP fired an auditor in retaliation for purported whistleblowing refused Thursday to allow the ex-employee's counsel to question PwC's expert witness on the company's auditing track record or on the U.S. Securities and Exchange Commission's impartiality.
A Michigan federal judge ruled on Thursday that Great American Fidelity Insurance Co. can restart its bid to dodge coverage of a lawsuit accusing advisory firm Stout Risius Ross of faulty stock valuations, reasoning that the stock suit has been reduced to just one claim that's ineligible for coverage.
The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission will be hard-pressed to argue Tesla CEO Elon Musk's recent tweets about cryptocurrencies amounted to illegal communication of material information to investors, or constituted market manipulation, say Kenneth Breen and Phara Guberman at Paul Hastings.
Attorneys working remotely from jurisdictions in which they are not admitted should take precautionary steps to avoid engaging in unauthorized practice of law, say John Schmidt and Michael Seaman at Phillips Lytle.
In-court M&A challenges that benefit plaintiffs counsel more than shareholders continue unabated, demonstrating the need for federal securities law reform to prevent what amounts to a deal tax on companies forced to pay mootness fee settlements and higher directors and officers insurance premiums, say attorneys at Seyfarth.
In a welcome development for defendants, a New York state court's back-to-back rejections of Securities Act class claims in Sundial Growers and Lyu v. Ruhnn Holdings signal a growing judicial backlash against the flood of similar litigation following the U.S. Supreme Court’s 2018 decision in Cyan, say Israel Dahan and Alexander Noble at King & Spalding.
Parenting during the pandemic has introduced a series of competing personal and professional obligations for attorneys and professional staff, and even organizations that are supportive of their parent employees can take steps to do better, says Meredith Kahan at Saul Ewing.
Although a California federal court recently ruled a donor-advised fund sponsor did not breach prudent investor standards in Fairbairn v. Fidelity Charitable, the case shows that disgruntled donors may initiate claims against charities over nonbinding advisory privileges, and could introduce a wave of litigation over alleged investment mismanagement, says Karl Mill at Adler & Colvin.
The prospect of joining a law firm during the pandemic can cause added pressure, but with a few good practices — and a little help from their firms and supervising attorneys — lawyer trainees can get ahead of the curve while working remotely, say William Morris and Ted Landray at King & Spalding.
Multinational companies should take a pragmatic approach to Foreign Corrupt Practices Act compliance by being aware of key risk areas — such as inappropriate gift-giving, liability for third-party actions, and countries with recurring corruption issues — and implementing custom-designed procedures that evolve with their operations, says Howard Weissman at Miller Canfield.
Recent noteworthy bail decisions, including a New York federal court's denial of Ghislaine Maxwell's $28.5 million bail package offer, reveal that high-net-worth defendants should demonstrate significant ties to the U.S. and provide comprehensive financial disclosures to mitigate flight-risk objections, say Sean Buckley and Amanda Tuminelli at Kobre & Kim.
The parties to a carbon neutral oil or liquefied natural gas transaction must agree upon the source and quality of the carbon offset units used in the deal, as well as on any transaction-specific verification protocols and carbon footprint methodologies, say Gabriel Procaccini and Kenneth Markowitz at Akin Gump.
Attorneys at Nossaman look at how President Joe Biden’s ethics pledge goes beyond those of his predecessors by imposing post-employment shadow lobbying and golden parachute restrictions on his administration’s appointees — and how a House bill proposing expansion of federal ethics law could affect enforcement.
Carbon neutral oil and liquefied natural gas transactions can make oil and LNG more environmentally competitive with renewable energy, but participants must pay close attention to the cost of carbon offsets involved, and applicable regulations around carbon trading and marketing claims, say Gabriel Procaccini and Kenneth Markowitz at Akin Gump.
Law graduates across the states are sitting for the grueling two-day bar exam this week despite menstruation-related barriers, such as inadequate menstrual product and bathroom access, which could be eradicated with simple policy tweaks, say law professors Elizabeth Cooper, Margaret Johnson and Marcy Karin.
Consultants at Deloitte discuss the tax implications of India's latest budget proposals, including the potential benefits for foreign portfolio investors and offshore funds migrating to India's new international financial services center, and the possible rise of M&A costs.
As transaction disputes rise amid evolving market conditions, certain strategies can help companies mitigate risk while remaining live to M&A opportunities, say attorneys at Freshfields.