Securities

  • April 01, 2025

    Bitcoin Rival Appeals Grayscale's Win In $2M False Ads Suit

    Cryptocurrency company Osprey Funds LLC is appealing a Connecticut state judge's ruling against it in its unfair trade practice suit accusing digital asset management firm Grayscale Investments LLC of misleading bitcoin investors about the security of their investments after the state court declined to reconsider its decision.

  • April 01, 2025

    Ex-Biotech CEO Wrongly Sentenced To 7 Years, DC Circ. Told

    A former biotech executive who pled guilty to misleading investors about a blood-based COVID-19 test urged the D.C. Circuit to order a redo of his seven-year prison sentence on Tuesday, telling an appeals panel that the trial court miscalculated the sentencing guidelines.

  • April 01, 2025

    Judge Tosses Hertz Investor's $126M Short-Swing Profits Suit

    A New York federal judge has tossed, for good, a suit against the controlling shareholders of Hertz Global Holdings Inc. that claimed they realized at least $126 million in short-swing profits by selling their shares shortly before the car rental company's directors greenlighted a $2 billion stock repurchase program.

  • April 01, 2025

    Paramount Investor Gets Partial Win In $8B Merger Doc Suit

    A top Paramount Global stockholder who sued for books and records on the company's proposed $8 billion acquisition by Skydance Media won Delaware Court of Chancery admission of dozens of documents Tuesday, with a rare, closed ruling to follow on confidentiality claims for other still-held-back records.

  • April 01, 2025

    Paul Hastings Atty Joins Dechert's Global Finance Team In NY

    Dechert LLP's New York office has landed a former Paul Hastings LLP of counsel and CIFG Assurance North America deputy general counsel, saying Monday that his hire bolsters the firm's capabilities in private credit finance, securitization and structured and derivative products.

  • April 01, 2025

    Atty's Fraud Sentence Upheld In Long-Delayed Ruling

    A California lawyer who was convicted for his role in a pump-and-dump scheme has lost a motion filed in Massachusetts federal court in 2018 seeking to vacate a four-year prison term.

  • April 01, 2025

    Ariz. Developer, Son Charged In $280M Sports Park Fraud

    An Arizona developer and his son tricked bondholders into investing $280 million in a Phoenix-area youth sports park by falsely promising "100% occupancy prior to breaking ground" in part via the use of forged documents, federal prosecutors in Manhattan charged Tuesday.

  • April 01, 2025

    Davis Polk Adds Structured Finance Pro From Cadwalader

    Davis Polk & Wardwell LLP has expanded its finance practice in New York with the addition of a structured finance pro from Cadwalader Wickersham & Taft LLP.

  • April 01, 2025

    NJ Fraudster Found Guilty After Earlier Sentence Commuted

    A New Jersey federal jury found fraudster Eliyahu Weinstein guilty of orchestrating a multimillion-dollar Ponzi scheme while he was on supervised release following a previous fraud sentence that drew clemency from Donald Trump at the end of his first presidential term.

  • March 31, 2025

    Trump Commutes Con Man Jason Galanis' Prison Sentence

    President Donald Trump on Friday commuted the nearly 16-year sentence of fraudster Jason Galanis, who was convicted in a shareholder rip-off and a tribal bond swindle that cost investors $81 million.

  • March 31, 2025

    Nasdaq's Tighter IPO Rules Raise Bar For Small Companies

    Nasdaq is seeking to weed out volatile stocks by tightening listing standards for small companies conducting initial public offerings or uplistings, although lawyers caution that new rules could prompt capital-hungry companies to pursue other listing strategies, including reverse mergers.

  • March 31, 2025

    Ex-CFTC Enforcement Chief Joins Sidley As Partner

    Ian McGinley, who served as the enforcement director for the U.S. Commodity Futures Trading Commission, has joined Sidley Austin as a partner at its New York office, where he will be handling regulatory enforcement and white-collar matters with a focus on commodities and securities laws, the firm said Monday.

  • March 31, 2025

    9th Circ. Revives Investor Suit Over $8B Avalara Sale

    The Ninth Circuit on Monday partially revived a proposed class action accusing tax software company Avalara Inc. of underselling investors on its future prospects before taking the company private in an $8.4 billion deal.

  • March 31, 2025

    Vizio Stockholders Open Challenge To $2.3B Walmart Merger

    A Vizio Inc. stockholder launched a class challenge Monday to the smart-TV company's $11.50 per share, $2.3 billion, sale to Walmart Inc., accusing insiders — including Vizio CEO and controller William Wang — of wiring up a deal unfair to common stockholders.

  • March 31, 2025

    Del. Legal Overhaul Won't Scuttle Key Rulings, Expert Says

    A longtime expert on Delaware's general corporation law disputed on Monday predictions that a recently signed legislative overhaul will upend dozens of important precedents in the state.

  • March 31, 2025

    Mich. Judge Dismisses Biz's 'Pump-And-Dump' RICO Suit

    A Michigan federal judge on Monday tossed what he called a confusing "power struggle" of a lawsuit from a company accusing its former leaders of conspiring to install a CEO and leading a pump-and-dump scheme, finding that the company was essentially improperly seeking review of a prior state court judgment that it lost.

  • March 31, 2025

    SEC Closed Inquiry Into Hawk Meme Coin, Promoter Says

    The U.S. Securities and Exchange Commission has closed an investigation into the celebrity promoter of the viral "Hawk Tuah" meme coin Haliey Welch, Welch's attorney told Law360 on Monday.

  • March 31, 2025

    DocGo Can't Nix Investor Suit Over 'Indisputably False' Claims

    A New York federal judge has trimmed a proposed class action alleging that mobile medical provider DocGo and its top brass misled stockholders before its $432 million migrant-services contract with New York City faced public scrutiny, but the judge found that claims stemming from the former CEO's "indisputably false" statements can proceed.

  • March 31, 2025

    Ex-SEC Chair's Enforcement Counsel Joins Kostelanetz

    The former enforcement officer to the recently departed U.S. Securities and Exchange Commission Chair Gary Gensler has joined Kostelanetz LLP in New York as partner, the firm announced Monday.

  • March 31, 2025

    DOJ Seeking Steep Costs To Make Challengers Think Twice

    The U.S. Department of Justice is quickly implementing President Donald Trump's plan to seek huge sums of money from litigants whose cases impede his agenda but ultimately prove unsuccessful, court records show.

  • March 31, 2025

    'Let's Go Brandon' Coin Buyers Class Partially Certified

    A Florida federal judge partially certified a class of purchasers of meme-inspired cryptocurrency LGBCoin in a suit alleging the price of the tokens cratered after its much-hyped plan to sponsor the coin's eponymous NASCAR driver fell apart.

  • March 31, 2025

    Judge Won't Let Wells Fargo Duck Bulk Of $22M ADA Verdict

    A North Carolina federal judge on Monday mostly kept intact a $22.1 million Americans with Disabilities Act verdict against Wells Fargo, though he did agree to lower the jury's punitive damages, which he said exceeded the statutory cap.

  • March 31, 2025

    Investor Hits Solaris With Suit Over Merger Details

    Houston-based oil and gas company Solaris Energy Infrastructure Inc. misled investors about the value of a mobile turbine rental business it acquired last year, according to a proposed class action filed Friday.

  • March 31, 2025

    Aspiration Partners Hits Ch. 11 After Founder's Fraud Arrest

    Sustainability-focused financial services company Aspiration Partners Inc. filed for Chapter 11 protection in Delaware, less than a month after founder Joseph Sanberg was arrested and hit with federal fraud charges.

  • March 31, 2025

    Heritage Coal Files For Ch. 11, Alleging Ex-Owner Sabotage

    Heritage Coal and its owner KTRV have both filed for Chapter 11 protection in Delaware, saying Heritage's owner prior to KTRV has asserted ownership over the debtors' assets and taken steps to sabotage and vandalize the debtors' mining equipment.

Expert Analysis

  • COP29 Offers Pathway To A Global Carbon Market

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    COP29, the recently concluded United Nations climate conference, represented a breakthrough in the establishment of standards for a global carbon market — and voluntary carbon market participants in the U.S. and elsewhere can enhance the value of their projects by aligning them with these standards, say attorneys at Morgan Lewis.

  • New Trump Admin May Bring Financial Oversight Turbulence

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    As President-elect Donald Trump prepares to begin his second term, his top financial market regulatory and securities law enforcement appointees, campaign promises, and regulatory preferences foretell a period of muddy regulatory waters, say attorneys at Kroll.

  • The Justices' Securities Rulings, Dismissals That Defined '24

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    The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.

  • 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.

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