We're pleased to announce Law360's Rising Stars for 2020, our list of 176 attorneys under 40 whose legal accomplishments transcend their age.
An attorney for a stockholder who sued online lender LendingClub Corp. for allegedly misleading investors about a federal investigation said they have dropped an insider trading claim during Chancery Court dismissal arguments Thursday, but urged the court to keep alive unjust enrichment and related claims.
Attempts to add a PricewaterhouseCoopers partner and manager as defendants in the multidistrict litigation over the TelexFree Ponzi scheme are pure "gamesmanship" and should not be permitted, the men told a Massachusetts federal judge Wednesday.
A New York federal judge has dismissed a whistleblower suit accusing Standard Chartered Bank of lying to U.S. authorities to shave billions of dollars from what it allegedly should have paid for violations of Iran sanctions, granting a government request that he said he had "no difficulty" deeming well-founded.
Portola Pharmaceuticals pushed a California federal judge to toss a proposed class action accusing the company of misstating the actual market value of its blood coagulant, Andexxa, arguing there is no evidence it misled its shareholders.
The receiver for defunct hedge fund Platinum Partners agreed to pay around $14 million to settle with insurers that say Platinum owed them more than $44 million, a move the receiver said eliminated one of the biggest obstacles to investors finally recouping some of their losses.
The U.S. Department of Labor's employee benefits arm removed barriers to profit for asset managers, investment advisers and the private equity industry, while attempting to limit ethical investments in 401(k) and pension plans. Here, Law360 recaps the three biggest DOL benefits policies of 2020 so far, which all arrived in June.
A proposed class of Johnson & Johnson investors asked a New Jersey federal judge Wednesday to certify it in a lawsuit alleging the company artificially inflated stock prices by hiding that its baby powder products were filled with cancer-causing asbestos.
The Ninth Circuit has mostly affirmed a ruling ordering several companies to pay the U.S. Securities and Exchange Commission more than $14 million after the agency accused them of participating in a fraud scheme involving Federal Communications Commission cellular spectrum licenses.
The planned Libra digital currency faced such unrelenting backlash that the group behind it modified its underlying structure and packed leadership positions with compliance experts in recent months. But whether these changes will allow the project to realize its ambitions remains uncertain.
A Manhattan federal judge sentenced entrepreneur Telemaque Lavidas on Thursday to a year and a day in prison for insider trading, after a jury convicted him of passing secrets to a trader friend about Ariad Pharmaceuticals, where his father sat on the board.
The key to determining the correct forum for a case that accuses Butler Snow LLP and its business development subsidiary of helping a now-imprisoned client pull off a massive Ponzi scheme is what the contract doesn't include, the law firm told a Fifth Circuit panel Thursday.
Despite the pandemic, the first half of 2020 saw epic judicial gear-shifting but no real slowdown in Delaware's key business courts, with new Chancery Court complaints actually picking up and important corporate and commercial law decisions regularly emerging from remotely conducted proceedings.
A team of attorneys from Bernstein Litowitz Berger & Grossmann LLP and Bondurant Mixson & Elmore LLP will be taking home a more than $29.6 million counsel fee for representing a proposed class of Equifax investors after securing a $149 million settlement of a suit over the company's vast 2017 data breach, a Georgia federal judge determined.
Singapore's competition authority on Thursday raised concerns about the London Stock Exchange's planned $27 billion takeover of Refinitiv, saying the blockbuster deal could affect the market for foreign exchange rates.
Alexion Pharmaceuticals will shell out almost $21.5 million to settle U.S. Securities and Exchange Commission claims that two Alexion subsidiaries bribed Russian and Turkish officials to secure preferential treatment for its blood disorder drug, Soliris, the SEC said Thursday.
The U.S. Department of Justice on Wednesday filed civil forfeiture complaints seeking about $96 million in assets allegedly related to money laundering by a Malaysian state-owned investment fund, including artwork by Claude Monet, Jean-Michel Basquiat and Andy Warhol.
The U.S. Securities and Exchange Commission asked a Manhattan federal court to keep an analyst's upcoming bribery trial limited to his alleged cover-up of an $11,000 ski trip, saying the court should block an anticipated defense centered on the SEC's investigation and the misdeeds of co-conspirators.
Investors in a Wisconsin-based fund focused primarily on gems and minerals are claiming in Illinois state court that they lost $52 million when fund operators and owners inflated the value of its assets and charged millions in fees.
The Eleventh Circuit in a published opinion Wednesday reversed a Florida federal judge's decision to dismiss a cash-advance fraud suit against Citigroup based on the finding it belonged in Mexico, remanding the case back to the Sunshine State and saying the wrongdoings involved "reverberated in the United States."
Bitcoin users who use a virtual bank to complete their transactions have no more of an expectation of privacy than brick-and-mortar bank account holders, the Fifth Circuit ruled while rejecting a felon's argument for evidence suppression in his child pornography case.
Israeli cybersecurity software company Tufin overstated its business prospects in North America in the lead-up to its $108 million initial public offering, teeing up a drop in its stock price when the company underperformed, an investor told a New York state court Wednesday.
A Connecticut-based investment adviser will pay $2 million in disgorgement and civil fines for allegedly investing $19 million in investor money while "grossly understating" inherent risks and failing to conduct even basic due diligence on questionable companies, according to a statement Wednesday from the U.S. Securities and Exchange Commission and its original complaint.
Insurers for Bausch Health Cos. asked a New Jersey federal judge Wednesday to find that they don't have to pay the pharmaceutical company's costs to defend and settle class-action suits it faced over an alleged insider trading scheme connected to a failed takeover of Allergan, contending the suits are not covered "securities claims."
Roche Cyrulnik Freedman LLP and Selendy & Gay PLLC will work together to represent a proposed class of investors in a suit in Manhattan federal court alleging blockchain software developer TRON Foundation and two of its co-founders made more than $70 million selling unregistered securities.
Although captive insurance can help address some of the traditional coverage gaps exposed by the current COVID-19 crisis, three Tax Court cases from recent years illustrate the Internal Revenue Service's hostility toward the entities, says Patrick McCann at Chamberlain Hrdlicka.
The U.S. Securities and Exchange Commission's recently settled enforcement action against Ares Management demonstrates that private fund managers with potential insider info should systematically investigate trading approvals in situations that present a heightened risk of access to material nonpublic information, say attorneys at Debevoise.
Despite the COVID-19 pandemic, U.S. regulators are demonstrating a continued focus on anti-money laundering enforcement, and we can expect authorities will continue to make AML compliance — specifically, risk-based compliance — a priority, say attorneys at Miller & Chevalier.
It has long been the law that attorneys cannot use percentage rental agreements because doing so would constitute an impermissible sharing of fees with nonlawyers, but such arrangements can help lawyers match expenses with revenues in lean times like now, say Peter Jarvis and Trisha Thompson at Holland & Knight.
A recent Law360 guest article argued that the fundamental genius of the jury trial can only exist in a live setting in a courtroom, but the online process is at least as fair as its in-person counterpart, says Pavel Bespalko at Tricorne.
A California state appellate court's recent decision in Masellis v. Law Office of Leslie F. Jensen provides a road map for proving causation and damages in settle-and-sue legal malpractice cases — an important issue of long-standing confusion, says Steven Berenson at Klinedinst.
While not binding on the U.S. Securities and Exchange Commission or any court, the SEC staff's recent reversal on control share statutes returns essential tools to closed-end fund boards in certain states and may be instrumental in revitalizing the closed-end fund industry for long-term investors and fund sponsors alike, say attorneys at Skadden.
Lenders and borrowers in the COVID-19 Main Street Lending Program can steer clear of litigation roadblocks with proactive compliance measures, but the U.S. Department of Justice should also facilitate the program's objectives by issuing a policy statement limiting False Claims Act actions, say Robert Huffman and Caroline Wolverton at Akin Gump.
The compliance date has arrived for two rules adopted by the U.S. Securities and Exchange Commission last year — Regulation Best Interest and the Form CRS Relationship Summary — and there are many regulatory developments and legal questions that in-house counsel and compliance professionals should consider, say attorneys at Eversheds Sutherland.
While it is widely accepted that securities trading by friends and loved ones of corporate insiders amounts to securities fraud, the theory is based on a generous deference to the U.S. Securities and Exchange Commission under two controversial U.S. Supreme Court precedents, and now may be a uniquely opportune time to challenge them, says Russell Ryan at King & Spalding.
Mediation conducted online with participants in different states makes it harder to determine where communications were made, increasing the risk that courts will apply laws of a state that does not protect mediation confidentiality, say mediators Jeff Kichaven and Teresa Frisbie and law student Tyler Codina.
Without a pandemic resolution in sight, defense counsel will need to make adaptations when addressing remote testimony requests from the U.S. Securities and Exchange Commission, including negotiating for favorable interview conditions and mitigating the consequences of a refusal to testify, say attorneys at Richards Kibbe.
A New York federal court's recent refusal to grant class certification to investors in Grupo Televisa in a FIFA scandal stock-drop case may lead to additional discovery burdens for asset managers performing third-party management services for pooled investment vehicles, say attorneys at Ropes & Gray.
Although the next moves following the dramatic ouster of Geoffrey Berman as U.S. attorney for the Southern District of New York, and the status of Audrey Strauss as acting U.S. attorney, are largely circumscribed by the Federal Vacancies Reform Act, open questions remain, says Daniel Levy at McKool Smith.
As I learned after completing a recent international arbitration remotely, with advance planning a video hearing can replicate the in-person experience surprisingly well, and may actually be superior in certain respects, says Kate Shih at Quinn Emanuel.