Securities

  • April 08, 2025

    Georgia Day Trader Settles SEC's Manipulation Suit For $1.5M

    A Georgia-based day trader has agreed to pay over $1.5 million to end a U.S. Securities and Exchange Commission lawsuit claiming that he was central to a scheme to manipulate trading prices for certain issuers via false rumors he distributed on his financial media network.

  • April 08, 2025

    Compliance Chief Wants Out Of SEC Fraud Suit

    The chief compliance officer and general counsel of a wealth management firm has urged an Illinois federal judge to dismiss him from a U.S. Securities and Exchange Commission suit over an alleged offering fraud by former representatives at his firm, saying "the commission does not even understand what its own pleading burden in this case is."

  • April 08, 2025

    MSP Recovery Sued For Docs In Del. After $33B SPAC Dispute

    A stockholder of healthcare data analytics company MSP Recovery has demanded the company turn over books and records over allegations that it admitted to financial difficulties and federal investigations shortly after finalizing a $32.5 billion blank-check merger nearly three years ago.

  • April 08, 2025

    Calif. Opposes Bid To Freeze State Corporate Climate Regs

    California is opposing a move by the U.S. Chamber of Commerce and other business groups to stop a pair of regulations on corporate climate reporting from going into effect, telling a federal judge that the state is allowed to protect shareholders from potentially deceptive or misleading commercial speech.

  • April 08, 2025

    Fla. Cloud Co. Accuses Ex-Board Member Of SPAC Fraud

    A Florida cloud storage business has accused a former board member of securities fraud in federal court, alleging that a side agreement splitting a finder's fee with an unregistered broker he introduced for a merger deal wasn't disclosed, and now the company faces shutdown if an asset sale isn't halted.

  • April 08, 2025

    Bernstein Litowitz, Kessler Topaz Seek To Lead GSK Investors

    Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check LLP are seeking lead counsel roles in a proposed securities class action against GSK PLC in Pennsylvania federal court, citing a long history of collaboration and billions recovered for shareholders.

  • April 08, 2025

    DOJ Shuts Crypto Unit, Shifts Focus From Intermediaries

    The U.S. Department of Justice is disbanding its crypto unit and directing prosecutors to focus on cases against individuals who harm crypto investors or use digital assets to further other illegal activity, instead of bringing cases against platforms that enable the conduct, according to a memo circulated to all department employees.

  • April 08, 2025

    Justices Halt Order To Reinstate Federal Workers

    The U.S. Supreme Court on Tuesday hit pause on a California federal court order reinstating tens of thousands of probationary federal workers who were fired from six agencies, agreeing with the Trump administration that the nonprofit groups that obtained the order lack standing to challenge the firings. 

  • April 07, 2025

    Vice Chancellor Warns Plaintiff Over AI-Generated Filings

    A Delaware vice chancellor has threatened a plaintiff with sanctions in an appraisal action for allegedly using a "hallucinating" generative artificial intelligence program to prepare his motions and has ordered the plaintiff to disclose his use of AI in court filings moving forward.  

  • April 07, 2025

    Chancellor Asks About High Court Case In $2.1B SPAC Row

    A Delaware vice chancellor wondered Monday why neither side of a derivative suit over the $3 billion take-public merger of battery maker Microvast Holdings Inc. spoke about a recent state supreme court case relevant to the dispute.

  • April 07, 2025

    Coinbase Accused Of Scam Prevention Shortfalls

    A California man has filed a proposed class action seeking to hold cryptocurrency exchange Coinbase liable for failing to implement safeguards against fraudsters who run "pig-butchering" scams.

  • April 07, 2025

    OMB Issues Guidance On Agency Use, Purchasing Of AI

    The Office of Management and Budget issued a pair of memorandums last week that replaced the Biden administration's safeguards on the federal acquisition of artificial intelligence with a policy aimed at accelerating federal agencies' use and procurement of artificial intelligence.

  • April 07, 2025

    Justices' Slack Ruling 'Forecloses' Palantir Shareholder Suit

    Palantir Technologies Inc. has escaped a proposed class action accusing it of deceiving investors about its growth potential, with a Colorado federal judge ruling that his hands were tied by a recent U.S. Supreme Court ruling that "likely foreclosures" certain shareholder lawsuits against companies that go public via a direct listing.

  • April 07, 2025

    Starbucks Asks To Dump Investors' 'Triple Shot' Strategy Suit

    Starbucks has urged a Seattle federal judge to toss a consolidated proposed class action alleging that the coffee chain made overly positive projections for its "Triple Shot Reinvention" strategy that hurt investors when the financial results didn't bear out the company's optimism, saying the plaintiffs haven't shown that Starbucks made any false statements.

  • April 07, 2025

    Pot Co. Lied About Prerolled Joint Costs, Investor Claims

    An investor in cannabis company Canopy Growth Corp. is suing in New York federal court, alleging that the company misled him and other investors about the costs of a prerolled joint product and vape devices, leading to a 27% stock drop when the truth came out.

  • April 07, 2025

    SEC Orders Crypto Guidance Review As Deregulation Looms

    Acting Chair of the U.S. Securities and Exchange Commission Mark Uyeda ordered a review of a number of staff statements on digital assets, to potentially change or withdraw them in light of the White House's policy directive on deregulation and recommendations from the Department of Government Efficiency.

  • April 07, 2025

    Chemours Co. Hit With Insider Derivative Suit In Del.

    Attorneys for a Chemours Co. stockholder have docketed a sealed derivative suit in Delaware's Court of Chancery, seeking damages on the company's behalf from 13 current or former directors and officers, alleging breaches of fiduciary duty and unjust enrichment in connection with alleged manipulation of financial disclosures.

  • April 07, 2025

    SolarEdge Claims Get Tossed Again In Second Try

    A New York federal judge has once again tossed certain claims in a securities class action accusing SolarEdge Technologies Inc. of misrepresenting the demand for its solar energy products in Europe, but he gave investors the chance to file a third amended complaint.

  • April 07, 2025

    Nelson Mullins Team Joins Duane Morris In DC, Atlanta, Miami

    Duane Morris LLP announced Monday that it is expanding its corporate practice by bringing in a team of five Nelson Mullins Riley & Scarborough LLP transactional attorneys — including two partners — in its Washington, D.C., Atlanta and Miami locations.

  • April 07, 2025

    Split Fraud Verdict For Calif. Man Behind Celeb Brand App

    A Los Angeles federal jury has returned a mixed verdict against a Malibu man charged with defrauding investors in an app intended to help public figures monetize their brand endorsements.

  • April 07, 2025

    SEC Drops Suit Against Silver Point Over Atty Info Access

    The U.S. Securities and Exchange Commission has dropped a Connecticut federal lawsuit alleging Silver Point Capital LP failed to establish policies to safeguard material nonpublic information, particularly from a former BigLaw attorney who acted as outside counsel, according to federal court records.

  • April 04, 2025

    IPO Plans Appear Iced As Trump's Tariffs Rock Markets

    The escalating sell-off in equities is halting major initial public offerings for now and more prospects will likely pause plans as deals lawyers and their clients assess the fallout following President Donald Trump's endorsement of across-the-board tariffs, experts say.

  • April 04, 2025

    Chancery Trims Claims, Limits Ruling On Focus Financial Suit

    Delaware's chancellor has heavily pruned but refused to entirely dismiss a stockholder suit challenging the $7 billion August 2023 go-private merger between Focus Financial Partners Inc. and Clayton Dubilier & Rice LLC and Stone Point Capital, with remnants held over for summary judgment.

  • April 04, 2025

    Radius Health Stockholders Sue Ex-CEO After $890M Co. Sale

    Stockholders of global biopharmaceutical venture Radius Health Inc. sued the company's former CEO G. Kelly Martin late Thursday in Delaware's Court of Chancery, alleging breaches of fiduciary duty related to the company's purportedly undervalued, $890 million sale in August 2022.

  • April 04, 2025

    Musk Atty Objects To 'Outrageous' Deposition Request

    Elon Musk's attorney has said it's "outrageous" that a class of former Twitter investors is trying to depose the attorney in a case accusing Musk of intentionally tanking the social media platform's stock price, telling a California federal judge the move threatens to undermine his attorney-client relationship.

Expert Analysis

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • 2024 Has Been A Momentous Year For ESG

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    Significant developments in the environmental, social and governance landscape this year include new legislation, evolving global frameworks, continued litigation and enforcement actions, and a U.S. Supreme Court decision that has already affected how lower courts have viewed some ESG challenges, say attorneys at Katten.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025

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    U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.

  • Musk Pay Fight Shows Investor Approval Isn't Universal Cure

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    The Delaware Court of Chancery's recent denial of a motion revising its prior rescission of Elon Musk's nearly $56 billion compensation package is a reminder of the heightened standard corporate boards must meet in conflicted controller transactions and that stockholder approval doesn't automatically cure fiduciary wrongdoing, say attorneys at A&O Shearman.

  • Data Privacy Landscape After Mass. Justices' Wiretap Ruling

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    In Vita v. New England Baptist Hospital, Massachusetts’ highest court recently ruled that the state’s wiretap law doesn’t prohibit all tracking of website user activity, but major financial and reputational risks remain for businesses that aren't transparent about customer’s web data, says Seth Berman at Nutter.

  • Compliance Lessons From Raytheon's FCPA Settlement

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    A recent Foreign Corrupt Practices Act action involving aerospace and defense company Raytheon underscores the importance of risk management related to retaining and overseeing third parties — especially in higher-risk jurisdictions — and the promotion of a companywide culture of compliance, say attorneys at Debevoise.

  • Opinion

    Justices Rightly Corrected Course In Nvidia And Facebook

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    By dismissing both the Nvidia and Facebook class actions, over investors' ability to hold corporations accountable for fraud, the U.S. Supreme Court was right in refusing to favor corporations over transparency, and reaffirmed its commitment to corporate accountability, investor protection and the rule of law, says Laura Posner at Cohen Milstein.

  • Gov't Scrutiny Of Workplace Chat Apps Set To Keep Growing

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    The incoming Trump administration and Republican majorities in Congress are poised to open numerous investigations that include increasing demands for entities to produce communications from workplace chat apps, so companies must evaluate their usage and retention policies, say attorneys at Orrick.

  • Del. Dispatch: The 2024 Corporate Cases You Need To Know

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    The Delaware Court of Chancery in 2024 issued several decisions that some viewed as upending long-standing corporate practices, leading to the amendment of the Delaware General Corporation Law and debates at some Delaware corporations about potentially reincorporating to another state, say attorneys at Fried Frank.

  • Top 10 Whistleblowing And Retaliation Events Of 2024

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    From a Florida federal court’s ruling that the False Claims Act’s qui tam provision is unconstitutional to a record-breaking number of whistleblower tips filed with the U.S. Commodity Futures Trading Commission, employers saw significant developments in the federal and state whistleblower landscapes this year, say attorneys at Proskauer.

  • When US Privilege Law Applies To Docs Made Outside The US

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    As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.

  • Changes To Expect From SEC Under Trump Nominee

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    President-elect Donald Trump's nomination of Paul Atkins for U.S. Securities and Exchange Commission chair will likely lead to significant shifts in the Division of Enforcement's priorities, likely focused on protecting retail investors and the stability of the capital markets, say attorneys at Morrison Foerster.

  • Executive Orders That Could Affect Financial Services In 2025

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    The incoming Trump administration is likely to quickly revive or update a number of prior executive orders, and possibly issue new ones, that could affect financial services by emphasizing market discipline rather than regulatory initiatives to drive change in the industry, say attorneys at Davis Wright.

  • 'Minimal Participant' Bar Is Tough To Clear For Whistleblowers

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    Under the U.S. Department of Justice’s corporate whistleblower pilot program, would-be whistleblowers will find it tough to show that they only minimally participated in criminal misconduct while still providing material information, but sentencing precedent shows how they might prove their eligibility for an award, say attorneys at MoloLamken.

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