Securities

  • June 03, 2025

    SEC Sues New Mexico Adviser Over Improper Excessive Fees

    A Santa Fe, New Mexico, investment adviser and its principal face U.S. Securities and Exchange Commission allegations they fleeced customers over a nearly five-year period, overbilling them annually and hitting them with unexpected hourly bills out of the blue.

  • June 03, 2025

    BlackRock, Vanguard Want Red States' Coal Suit Extinguished

    Asset managers BlackRock Inc. and The Vanguard Group Inc. have urged a Texas federal judge to toss a suit brought by a coalition of Republican-led states alleging the firms ran a scheme to drive up coal prices as part of an "investment cartel," arguing the case rests on "implausible premises."

  • June 03, 2025

    Fortrea Faces Investor Suit Over Post-Labcorp Financial Woes

    Clinical research company Fortrea Holdings Inc. was hit with a proposed shareholder class action alleging that it overstated the strength of its business model after being spun off from Labcorp Holdings Inc., causing investors harm as the truth about Fortrea's financial struggles emerged.

  • June 03, 2025

    SEC Chair Says Next Steps On Crypto Regs Coming Soon

    U.S. Securities and Exchange Commission Chair Paul Atkins indicated Tuesday that the agency is working toward proposing regulations for the cryptocurrency industry and that a key aspect of the work being done by a recently established crypto task force could be complete within a matter of months.

  • June 03, 2025

    9th Circ. Gives Crypto Victims Chance At Greater Recovery

    A Ninth Circuit panel found that a California federal court can reopen the restitution phase of a criminal crypto extortion case post-sentencing after the victims said they lost out on millions of dollars in recovery due to a miscommunication among government offices.

  • June 03, 2025

    Chancery Tosses 'Generic' Advance Notice Bylaw Suit

    Citing the absence of any specific damage claims, a Delaware vice chancellor on Monday dismissed an Owens Corning Inc. shareholder suit challenging company bylaws obliging advance notice of board seat proxy contests.

  • June 03, 2025

    2 Texans, Firm Owe $5.3M In SEC House-Flipping Fraud Suit

    A pair of Texas men and their investment company must give the U.S. Securities and Exchange Commission nearly $5.3 million to resolve claims they defrauded investors in a house-flipping scheme, misappropriating $2.9 million and misrepresenting that certain property interests would secure certain investor funds.

  • June 03, 2025

    Wash. Judge Clears The Way For Redfin Merger Vote

    A Washington federal judge on Tuesday refused to stop Redfin shareholders from voting Wednesday on a $1.75 billion merger with Rocket Cos., finding that with new disclosures made by the company, investors have enough information to make an informed decision.

  • June 03, 2025

    Calif. Startup's Lender Gets Prison For Investor Fraud

    A Greenwich, Connecticut, hard-money lender was sentenced to nearly three and a half years in prison and must pay $9.4 million in restitution to investors in loans he made to the failed California tech startup Bitwise Industries, which operated as a $115 million Ponzi scheme, federal prosecutors said.

  • June 03, 2025

    InnovAge To Pay $27M To Resolve IPO Investors' Suit

    InnovAge Holding Corp. and a class of stockholders have agreed to a $27 million settlement to resolve claims that the senior-health care company made misleading statements in an initial public offering that later caused stock prices to tank after a government audit exposed the falsehoods.

  • June 03, 2025

    Rosen, Pomerantz To Lead Seattle Biotech Class Action

    The Rosen Law Firm PA and Pomerantz LLP will serve as co-lead counsel for shareholders accusing Seattle-based Sana Biotechnology Inc. of misleading investors about its ability to develop certain genetic therapy treatments.

  • June 03, 2025

    Lovesac Settles Conn. Shareholder Suits With Corp. Reforms

    The Lovesac Co. has agreed to implement new corporate reforms and pay $335,000 to reimburse its stockholders' legal fees in a derivative lawsuit accusing company directors of filing misleading financial reports, according to a deal advanced Tuesday by a Connecticut federal judge.

  • June 03, 2025

    Citi's Global Sanctions Head Tapped For Treasury Role

    President Donald Trump has nominated Citigroup's global head of banking sanctions compliance to serve as the U.S. Department of the Treasury's assistant secretary for terrorist financing, according to congressional records, in a move that would mark his return to the department after years in the private sector.

  • June 03, 2025

    Coinbase Says Ore. Enforcement Action Belongs In Fed Court

    Crypto exchange Coinbase told an Oregon federal judge that a securities enforcement suit from the state's attorney general belongs in federal court since the action amounts to an "attempt to invade the province of federal law" in the wake of federal regulators' pivot away from enforcement against digital asset firms.

  • June 03, 2025

    Wells Fargo Free To Grow After Fed Ends $2T Asset Cap

    The Federal Reserve announced Tuesday that it has lifted the $2 trillion asset cap it imposed on Wells Fargo & Co. as part of a 2018 enforcement action stemming from the so-called fake accounts scandal, finding the bank has met all conditions required by the regulator.

  • June 03, 2025

    NJ Fights Investment Fund's Push To DQ Connell Foley

    New Jersey told a federal judge Monday that he was correct in rejecting a Black-owned investment fund's bid to disqualify Connell Foley LLP from representing the state in its bias suit, saying there was no previous attorney-client relationship.

  • June 03, 2025

    NJ Securities Enforcer Elevated To Interim Chief

    A former attorney at the New York Stock Exchange and the Financial Industry Regulatory Authority has been tapped to lead the Garden State's securities enforcement division, New Jersey Attorney General Matthew J. Platkin has announced.

  • June 03, 2025

    The Law360 400: A Look At The Top 100 Firms

    A rebound in client work sent the nation’s largest law firms into growth mode last year, driving a wave of hiring, mergers and strategic moves that reshaped the top tier of the Law360 400. Here's a preview of the 100 firms with the largest U.S. attorney headcounts.

  • June 03, 2025

    Willkie Hires Asset Management Partner In DC

    Willkie Farr & Gallagher LLP has hired an asset management partner in Washington, D.C., who was once the law clerk of the former Commodity Futures Trading Commission chairman who now co-leads the firm's digital works practice.

  • June 03, 2025

    Pot Co. Says Investor Threatened Suit After Share Buyout Deal

    A Canadian cannabis company seeks an injunction against an investor who allegedly violated an agreement to not disparage or bring claims against entities and individuals who signed an option to buy out the remainder of his shares in the company.

  • June 02, 2025

    5th Circ. Will Mull In-House Banking Cases In Jarkesy's Wake

    A Fifth Circuit panel is set to scrutinize in-house proceedings at the Federal Deposit Insurance Corp. and other banking agencies on Tuesday in a trio of appeals with the potential to upend the regulators' primary mode of enforcement.

  • June 02, 2025

    Hatteras Hedge Fund Looks To Take Investor Suit Federal

    Hedge fund Hatteras Investment Partners LP and its CEO on Friday sought to remove to Delaware federal court allegations that a $300 million asset swap wiped out shareholder value, arguing the size of the alleged damages and other factors all satisfy federal jurisdiction.

  • June 02, 2025

    Ex-NFL Player Jack Brewer Traded On Insider Info, Court Says

    NFL player turned investment adviser Jack Brewer used nonpublic information he obtained from a client of his financial consulting business to sell shares before the company made an announcement that caused the stock price to plummet, a New York federal judge ruled Friday.

  • June 02, 2025

    Rocket Cos. Board Beats Investor's $500M Insider Trading Suit

    Delaware's Court of Chancery on Monday dismissed a derivative shareholder suit accusing Rocket Companies Inc.'s board, chairman and controlling stockholder of breaching their fiduciary duties by liquidating $500 million worth of stock allegedly based on material nonpublic information, saying the plaintiffs have failed to show a motive.

  • June 02, 2025

    Alphabet Pledges $500M To Boost Compliance In Investor Suit

    Google's parent company, Alphabet Inc., has agreed to earmark half a billion dollars over the next 10 years to overhaul the tech giant's global compliance structure, according to two institutional investors that sued the company's leaders over allegations of anticompetitive and monopolistic business practices.

Expert Analysis

  • What FERC Scrutiny Of Directors, Assets Means For Investors

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    The Federal Energy Regulatory Commission has recently paid dramatically increased attention to appointments of power company directors by investors, and ownership of vertical assets that provide inputs for electric power production and sale — so investors in FERC-regulated entities should be paying more attention to these matters as well, say attorneys at Day Pitney.

  • What's Potentially In Store For CFTC Under New Leadership

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    Under the leadership of acting U.S. Commodity Futures Trading Commission Chairman Caroline Pham, and with the nomination of former commissioner Brian Quintenz to serve as permanent chair, the commission is set to widely embrace digital assets and event contracts, say attorneys at Davis Wright.

  • Revived Executive Order Is A Deregulatory Boon To Banks

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    A recently reinstated 2019 executive order reveals the Trump administration’s willingness to provide unprecedented protections for regulated parties — including financial institutions — but to claim them, banks and other entities must adopt a forward-leaning posture to work with the regulators, say attorneys at Davis Wright.

  • 3 Ways Civil Plaintiffs Could Fill An FCPA Enforcement Gap

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    While the Department of Justice recently announced it would deprioritize Foreign Corrupt Practices Act investigations into U.S. businesses without obvious ties to international crime, companies should stay alert to private plaintiffs, who could fill this enforcement void — and win significant civil damages — through several legal channels, says Eric Nitz at MoloLamken.

  • Examining Trump Meme Coin And SEC's Crypto Changes

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    While the previous U.S. Securities and Exchange Commission tended to view most crypto-assets as securities, the tide is rapidly changing, and hopefully the long-needed reevaluation of this regulatory framework is not tarnished by an arguable conflict of interest due to President Donald Trump's affiliation with the $Trump meme coin, say attorneys at Thompson Coburn.

  • When Reincorporation Out Of Del. Isn't A Good Idea

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    While recent high-profile corporate moves out of Delaware have prompted discussion about the benefits of incorporation elsewhere, for many, remaining in the First State may be the right decision due to its deep body of business law, tradition of nonjury trials and other factors, say attorneys at Goodwin.

  • Opinion

    SEC Defense Bar Should Pursue Sanctions Flexibility Now

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    The U.S. Securities and Exchange Commission defense bar has an opening under the new administration to propose flexible, tailored sanctions that can substantially remediate misconduct and prevent future wrongdoing instead of onerous penalties, which could set sanctions precedent for years to come, says Josh Hess at BCLP.

  • 7 Tips For Associates To Thrive In Hybrid Work Environments

    Excerpt from Practical Guidance
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    As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.

  • White Collar Archetypes: Wrangling The Shape-Shifter

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    In white collar criminal trials, certain pieces of evidence can shape-shift in the jury’s eyes, presenting both challenges and opportunities for defense counsel, says Jack Sharman at Lightfoot Franklin.

  • Series

    Playing Beach Volleyball Makes Me A Better Lawyer

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    My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.

  • 30 Years Later: How PSLRA Has Improved Securities Litigation

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    In the 30 years since the Private Securities Litigation Reform Act's passage, the statute has achieved its purpose of shifting securities class actions to investors most capable of monitoring the litigation, selecting competent counsel at competitive rates and maximizing recoveries for the investor classes they represent, say attorneys at Bernstein Litowitz.

  • Terraform Case May Be Bellwether For Crypto Enforcement

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    The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.

  • Texas Banking Dept. Memo Demystifies Crypto Classifications

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    A recent memorandum from the Texas Department of Banking provides clarity with respect to the classification of both stablecoins and nonstablecoin virtual currencies under the state's Money Services Modernization Act, flagging for firms that stablecoins may be scrutinized more closely as money transmission, say attorneys at Lowenstein Sandler.

  • How Law Firms Can Counteract The Loneliness Epidemic

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    The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.

  • What Remedies Under New Admin's SEC Could Look Like

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    The U.S. Securities and Exchange Commission is likely to substantially narrow the remedies it pursues over the next few years, driven by the mounting challenges it faces in court, as well as the views of its incoming chair and fellow Republican commissioners on injunctions, penalties and disgorgement, say attorneys at Milbank.

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