Securities

  • March 17, 2025

    Del. Corporate Law Rework Has Roots In 2 Academic Papers

    A proposed overhaul of Delaware's corporations law that has rocked the First State's legal world has its origins in two works published in 2021 and 2001, written by some of the same jurists who helped draft legislation driven by alarm over corporate charter exits and shareholder suits.

  • March 17, 2025

    Exxon Committed 'Straightforward Fraud,' Investors Say

    Exxon Mobil Corp. investors told a Texas federal court that the energy giant's antics surrounding its operations in Kearl Lake amount to a "straightforward fraud," and that the court should reject Exxon's bid for judgment as a matter of law.

  • March 17, 2025

    Amazon Beats Investor Suit Over Third-Party Seller Practices

    A Washington federal judge on Monday tossed a consolidated proposed securities class action claiming Amazon and its top brass duped investors about the company's fulfillment capacity and third-party seller practices, finding the lawsuit doesn't sufficiently allege the executives were deliberately reckless or motivated to deceive shareholders.

  • March 17, 2025

    4 Suits Benefits Attys Should Watch As ESG Pressures Persist

    A New York City pension fund recently escaped a proposed class action challenging its decision to divest nearly $4 billion in fossil fuel stocks, but experts say potential liability related to environmental, social and governance investment factors in retirement plan investment decisions is on the rise. Here are four suits involving challenges to employee retirement plan investing and ESG that attorneys say they're watching after New York City escaped a suit from its workers.

  • March 17, 2025

    Bowman Is Trump's Pick For Supervision Chief At Fed

    President Donald Trump on Monday tapped Federal Reserve Gov. Michelle "Miki" Bowman to take over as the central bank's vice chair for supervision, a role that would position the former community banker to shape key policymaking on bank capital, mergers and more.

  • March 17, 2025

    Execs Stole $5.4M In Fla. Trucking Co. Investments, SEC Says

    The U.S. Securities and Exchange Commission has brought a Florida federal lawsuit against three principal members of a trucking company over securities violations, alleging that they raised at least $5.4 million after falsely promising investors significant profits but returned only a fraction of the money.

  • March 17, 2025

    SEC Says Ex-CFO Cooked Pot Co. Acreage's Books

    The former chief financial officer of cannabis company Acreage faces U.S. Securities and Exchange Commission allegations that he covered up the company's attempt to inflate its 2019 cash balance with a so-called round-trip transaction involving an affiliate.

  • March 17, 2025

    Split 9th Circ. Won't Halt Federal Workers Reinstatement Order

    A divided Ninth Circuit panel on Monday denied President Donald Trump's administration an immediate administrative stay of a California district court order requiring reinstatement of some probationary federal workers fired from six agencies, the majority saying a pause "would disrupt the status quo and turn it on its head."

  • March 17, 2025

    SEC's Acting Chair Uyeda Promises To Slow Rulemaking

    Acting U.S. Securities and Exchange Commission Chair Mark Uyeda said Monday that he has directed staff to reassess a number of finalized and proposed regulations championed by the Biden administration, including those targeting mutual fund disclosures and the handling of crypto assets, as he championed a "smoother regulatory course" for the agency.

  • March 17, 2025

    $4.4B Alteryx Sale Was Lowball Offer, Investors Tell Del. Court

    Former stockholders of cloud-based enterprise analytics platform Alteryx Inc. have challenged the venture's allegedly lowball, $4.4 billion sale in 2024 to two private equity buyers, claiming breaches of fiduciary duty in Delaware Chancery Court that include undisclosed conflicts among directors and key officers.

  • March 17, 2025

    Auto Mogul Says $150M Note Changes Were For Co.'s Survival

    An auto parts manufacturer and its leader have urged a Michigan federal judge to find that they didn't fraudulently change promissory notes worth $150 million to cheat Alter Domus LLC out of payment, telling the court the amendments were made to help the company survive the COVID-19 pandemic.  

  • March 17, 2025

    Crypto Firm Stole $28M In 'Pig Butchering' Scam, Suit Says

    An Alabama resident has filed a proposed class action against two cryptocurrency firms and their CEO, accusing them of running a $28 million "pig butchering" scam that defrauded victims by laundering stolen cryptocurrency through a complex network of wallets.

  • March 14, 2025

    4th Circ. Lets White House Anti-DEI Efforts Proceed

    The Fourth Circuit on Friday lifted a temporary injunction blocking President Donald Trump's administration from implementing the bulk of his executive orders targeting diversity, equity and inclusion programs, though each judge on the panel had differing views on the matter. 

  • March 14, 2025

    Fannie, Freddie Can't Avoid $612M Investor Win, Judge Rules

    A D.C. federal judge on Friday upheld a $612.4 million jury verdict against the Federal Housing Finance Agency, Fannie Mae and Freddie Mac, ruling that the jury was provided with "ample evidence" that reasonably led to its conclusion that FHFA improperly amended stock purchase agreements related to the companies.

  • March 14, 2025

    Qatari Sheikh's Billions Invoked In $1M Scam, SEC Claims

    A purported wealth management company and its managing member face U.S. Securities and Exchange Commission fraud allegations over a pair of $1 million dollar schemes, including one involving an elaborate ruse invoking ties to the wealth of the royal family of Qatar.

  • March 14, 2025

    Texas Judge Rejects Ex-GloriFi CEO's Bid To Stop Claims Sale

    A Texas federal judge shot down an alleged attempt by the former CEO of bankrupt conservative-centered fintech startup GloriFi to preserve the ability to sue investors like Ken Griffin's Citadel LLC and Vivek Ramaswamy, saying Friday the bankruptcy judge got it right.

  • March 14, 2025

    Newsmax Says It Shelled Out $40M To End Smartmatic Suit

    Newsmax Media Inc. paid $40 million in last year's settlement with Smartmatic USA Corp. to put to rest the election technology company defamation suit ahead of trial, according to a disclosure recently filed with the U.S. Securities and Exchange Commission.

  • March 14, 2025

    'Pig Butchering' Crypto Site Must Pay $2.5M, Judge Says

    A purported crypto trading platform has been ordered to pay nearly $2.5 million after failing to respond to U.S. Commodity Futures Trading Commission claims that it was at the heart of a so-called pig-butchering scheme — or a scam that sees victims fleeced by fictitious, chatty social media users.

  • March 14, 2025

    BNY Sued Over $17.7B Unregistered Barclays-Issued Notes

    A trio of investors has filed a proposed class action against The Bank of New York Mellon Corp. for allegedly failing to properly authenticate several exchange-traded note offerings from Barclays, leading to the sale of $17.7 billion in unregistered securities.

  • March 14, 2025

    5th Circ. Affirms Energy Exec's Insider Trading Conviction

    The Fifth Circuit upheld a Texas energy executive's conviction for insider trading on natural gas futures based on the constitutionality of federal laws and regulations that criminalize manipulative commodity deals.

  • March 14, 2025

    Coupang Hit With Corporate Fraud, Waste Claims In Chancery

    The officers and directors of tech company Coupang Inc., are facing a derivative lawsuit in Delaware Chancery Court — accused of corporate mismanagement, fraud and waste, including labor violations in South Korea.

  • March 14, 2025

    Par Funding Conspirator Gets 11 Years For Fraud, Atty Assault

    A Pennsylvania federal judge has sentenced Par Funding principal James "Jimmy" LaForte to 11 years and four months in prison for helping his family run a $404 million racketeering conspiracy and violently assaulting Par Funding receivership's court-appointed counsel in a position prosecutors described as the loan company's "loyal attack dog."

  • March 14, 2025

    Chief Justice Won't Halt FINRA Case Against Suing Brokerage

    Chief U.S. Supreme Court Justice John Roberts on Friday denied a request to stay an in-house Financial Industry Regulatory Authority disciplinary proceeding while a broker-dealer attempts to convince the justices to hear its constitutional challenge to the regulator.

  • March 14, 2025

    Three Arrows Beats FTX To Get $1.5B Bankruptcy Claim

    The liquidators of failed cryptocurrency hedge fund Three Arrows Capital have prevailed in a dispute with FTX Trading Ltd. over the allowance of a $1.53 billion bankruptcy claim, with a Delaware judge deciding to grant Three Arrows' bid to change its original claim despite FTX asserting that the move was made in bad faith.

  • March 14, 2025

    Biotech Wins Dismissal Of Investor Fraud Claims

    A Boston federal judge on Friday dismissed a proposed investor class action against biotech Aldeyra Therapeutics Inc., ruling that the lawsuit's facts tend to support innocent explanations for executives' statements about its two drug prospects.

Expert Analysis

  • Opinion

    Attorneys Must Act Now To Protect Judicial Independence

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    Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.

  • Rethinking 'No Comment' For Clients Facing Public Crises

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    “No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.

  • Del. Supreme Court TripAdvisor Ruling May Limit 'MFW Creep'

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    The Delaware Supreme Court's recent Maffei v. Palkon ruling regarding TripAdvisor's proposed reincorporation to Nevada potentially signals a turning point in the trend of expanding the protections from Kahn v. M&F Worldwide to other types of transactions, says Andrew J. Haile at Elon University.

  • What To Expect In Crypto Banking After SEC Nixed Guidance

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    With the U.S. Securities and Exchange Commission recently rescinding its controversial cryptocurrency accounting guidance, the industry's focus will turn to the potentially significant hurdle to crypto banking posed by the federal banking regulators, say attorneys at Duane Morris.

  • Partially Faulting Airline For 401(k) ESG Focus Belies ERISA

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    A Texas federal court's recent finding that American Airlines breached its fiduciary duty of loyalty, but not of prudence, by letting its 401(k) pursue environmental, social and governance investments, misinterprets the Employee Retirement Income Security Act's standard of care, says Jeff Mamorsky, a Cohen & Buckmann partner and ERISA drafter.

  • Fund Names Rule FAQs Leave Some Interpretative Uncertainty

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    Although recently released FAQs clarify many specific points of the 2023 expansion to the Investment Company Act's fund names rule, important questions remain about how U.S. Securities and Exchange Commission staff will interpret other key terms when the end-of-year compliance date arrives, say attorneys at Dechert.

  • How Design Thinking Can Help Lawyers Find Purpose In Work

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    Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.

  • What Travis Hill's Vision For FDIC Could Portend For Banks

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    If selected to lead the Federal Deposit Insurance Corp. in a permanent capacity, acting Chairman Travis Hill is likely to prioritize removing barriers to innovation and institution-level growth, emphasizing the idea that eliminating rules, relaxing standards and reducing scrutiny will reinvigorate the industry, say attorneys at Mitchell Sandler.

  • Will Independent Federal Agencies Remain Independent?

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    For 90 years, members of multimember independent federal agencies have relied on the U.S. Supreme Court's 1935 ruling in Humphrey's Executor v. U.S. establishing the security of their positions — but as the Trump administration attempts to overturn this understanding, it is unclear how the high court will respond, says Harvey Reiter at Stinson.

  • Del. Justices' D&O Ruling Clarifies 'Related' Claim Analysis

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    In its recent decision in the Alexion Pharmaceuticals coverage case, the Delaware Supreme Court adopted a "meaningful linkage" standard for relatedness analysis, providing further guidance to Delaware policyholders on how to navigate those directors and officers insurance disputes, say attorneys at Hunton.

  • 5 Major Crypto Developments From The Trump Admin So Far

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    The early weeks of the Trump administration have set the stage for a significant transformation in U.S. digital asset policy by prioritizing regulatory clarity, innovation and a shift away from enforcement-heavy tactics, but many of these changes will require congressional support and progress may be gradual, say attorneys at Ropes & Gray.

  • Comparing 2 Pending Bills To Regulate Stablecoins

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    Alexandra Steinberg Barrage at Troutman analyzes the key similarities and differences between two payment stablecoin proposals currently pending in Congress — the STABLE and GENIUS acts — as both chambers are forming a working group to deliver a clear regulatory framework for digital assets and bipartisan agreement appears within reach.

  • Series

    Competitive Weightlifting Makes Me A Better Lawyer

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    The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.

  • How Private Securities Suits Complement SEC Enforcement

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    U.S. Securities and Exchange Commission enforcement is vital to the healthy functioning of markets, but government enforcement alone is not enough to ensure meaningful monetary recoveries for investor losses due to securities law violations, say attorneys at Bernstein Litowitz.

  • The Case For Compliance During The Trump Administration

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    Given the Trump administration’s shifting white collar enforcement priorities, C-suite executives may have the natural instinct to pare back compliance initiatives, but there are several good reasons for companies to at least stay the course on their compliance programs, if not enhance them, say attorneys at Riley Safer.

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