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Securities

  • May 15, 2025

    Semiconductor Co. Fights Investors' Pandemic Demand Suit

    Semiconductor maker STMicroelectronics has urged a federal judge to boot an investor suit alleging the company and its executives failed to predict pandemic-related demand declines, arguing the suit is flawed with "fraud-by-hindsight" logic.

  • May 15, 2025

    SEC Cuts $512K Deal To End Atty's Racial Bias Suit

    The U.S. Securities and Exchange Commission has agreed to pay $512,500 to end a former commission lawyer's discrimination claims alleging she was denied a promotion due to her race and age, according to court documents filed in Pennsylvania federal court on Thursday.

  • May 15, 2025

    Consumer Bid To Block Capital One-Discover Deal Falters

    A California federal judge Wednesday rejected a group of consumers' last-minute bid to delay Capital One Financial Corp.'s impending purchase of Discover Financial Services, unpersuaded that the deal poses serious enough potential antitrust concerns to support a preliminary injunction.

  • May 15, 2025

    SEC, FINRA Staff Retract 2019 Statement On Crypto Custody

    U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority staff on Thursday withdrew a joint statement from President Donald Trump's first term warning that existing consumer protection safeguards may not be effective or available for digital asset securities.

  • May 15, 2025

    Investor Makes Deal With PE Fund In Fla. Suit Alleging Fraud

    A Texas accountant has lodged a federal complaint alleging a Florida-based CEO of a private equity fund and two executives refused to return $1 million of his life savings after buying securities that produced virtually no income, although the parties on Thursday struck a tentative deal to have the lawsuit tossed.

  • May 15, 2025

    Wells Fargo Opposes Atty Fee Bid After $22M ADA Verdict

    Wells Fargo said it is "vigorously" contesting an attorney's request for at least $1.4 million in fees after winning a $22.1 million verdict in an Americans with Disabilities Act case against the bank, telling the court the request to double the lodestar amount is unsupported.

  • May 15, 2025

    Troutman Adds K&L Gates CMBS Partner In NC

    Troutman Pepper Locke LLP announced it has hired Christopher J. Fernandez from K&L Gates LLP as a partner in its bankruptcy and restructuring practice group in Charlotte, North Carolina.

  • May 15, 2025

    SEC Focused On 'Rooting Out' AI Abuse, Agency Atty Says

    The U.S. Securities and Exchange Commission is focused on "rooting out" the misuse of artificial intelligence by brokerage firms and publicly traded companies, a California audience heard Thursday as agency attorneys tried to combat the perception that the SEC's enforcement arm has gone silent.

  • May 15, 2025

    SEC Says RI Investment Firm Ran $2.5M Ponzi-Like Scheme

    The U.S. Securities and Exchange Commission on Thursday accused the owner of a Rhode Island-based investment firm in a complaint of using misleading statements to solicit about $2.5 million from investors and misappropriating much of it to enrich himself and pay back earlier investors.

  • May 15, 2025

    Genesis Fights Jefferies Bid To Be Paid In Bitcoin Over USD

    Failed cryptocurrency lender Genesis Global has asked a New York bankruptcy judge to throw out investment bank Jefferies' request for an order forcing the wind-down debtor to take back money it paid Jefferies and instead reimburse it in bitcoin, arguing it's too late for the bank to amend a claim that was filed "solely in dollars."

  • May 15, 2025

    SEC-Ripple Deal Hits Speed Bump With NY Judge

    The New York federal judge who oversees the U.S. Securities and Exchange Commission's enforcement case against blockchain firm Ripple Labs declined Thursday to bless a deal that would truncate the penalties and injunctions she levied in her judgment, saying the request was made in a "procedurally improper" way.

  • May 15, 2025

    NJ Securities Chief Fills In For Departing Consumer Watchdog

    New Jersey's securities enforcement chief is temporarily filling in as the state's consumer watchdog, as the individual confirmed to the latter role seven months ago is departing, according to an announcement by Attorney General Matt Platkin.

  • May 15, 2025

    Nevada Resorts Want In On Kalshi Sports Betting Brawl

    A trade group representing Nevada's powerful gaming and resort industries is aiming to line up against KalshiEx LLC in its suit against state regulators over its sporting event offerings, arguing that the online trading platform is attempting an end-around of federal gambling laws.

  • May 15, 2025

    'Tornado Cash' Indictment Largely Intact After Crypto Memo

    A memo outlining the Trump administration's cryptocurrency enforcement priorities prompted federal prosecutors in Manhattan to slightly trim their indictment charging Tornado Cash founder Roman Storm with facilitating $1 billion of unlawful transactions via his crypto-mixer, a Thursday letter says.

  • May 15, 2025

    Covington Atty To Help With Squarespace Appraisal Discovery

    A Delaware vice chancellor has appointed a Covington & Burling LLP attorney to help sort through discovery issues in an action Glazer Capital LLC-managed funds have filed to determine the fair value of their Squarespace Inc. shares.

  • May 14, 2025

    6th Circ. Won't Send Bitcoin Latinum Suit To Arbitration

    A Michigan federal judge was right to find that cryptocurrency firm Bitcoin Latinum can't send investor fraud claims to arbitration after waiting two years to seek that option, the Sixth Circuit has determined.

  • May 14, 2025

    Smartmatic Says Fox News Deleted 'Incriminating' Texts

    Fox News and its executives — including Rupert Murdoch and his son, Lachlan — deleted "critical" and "incriminating" text messages related to the network's allegedly defamatory broadcasts about Smartmatic during the 2020 election, the voting tech company said Wednesday.

  • May 14, 2025

    Actinium Faces Derivative Suit Over FDA Application Claims

    Officers and directors of biopharmaceutical company Actinium Pharmaceuticals Inc. face a shareholder derivative action accusing them of breaching their fiduciary duties after the company's lead product candidate failed to secure a certain approval from the U.S. Food and Drug Administration.

  • May 14, 2025

    Fla. Court Rules Trust Wasn't Entitled To Jury Trial Over $8.9M

    A Florida state appeals court ruled Wednesday that a charitable trust wasn't entitled to a jury trial in a lawsuit alleging Brown Brothers Harriman Trust Co. improperly withheld and invested $8.9 million, saying the complaint falls "within the exclusive jurisdiction of equity."

  • May 14, 2025

    Audit Firms Agree To $46M Deal Over Alleged GPB Fraud Ties

    Several auditors of GPB Capital have agreed to pay $46 million to settle claims about their alleged role in the $1.8 billion GPB Capital-Ascendant Capital fraud scheme, which allegedly victimized approximately 15,000 investors.

  • May 14, 2025

    NFT Team Says Founder Stole Millions From Bitcoin Project

    A group of investors who helped develop a marketable nonfungible token that funds their bitcoin mining operation have sued their business partner in Illinois federal court for allegedly keeping the project's millions in profits for his own personal use.

  • May 14, 2025

    Integra Brass Face Investor Suit Over FDA Compliance Lapses

    Executives and directors of medical device company Integra Lifesciences Inc. were hit with a derivative suit alleging they misled investors about the company's compliance with regulatory standards for over five years, causing share declines when information regarding Integra's violations emerged.

  • May 14, 2025

    Sage Therapeutics Brass Sued Over Drug Candidate Claims

    The top brass of Sage Therapeutics Inc. have been hit with a shareholder derivative suit in New York federal court alleging they misled investors about the safety, efficacy, durability and commercial prospects of three of the company's drug candidates and overstated their likelihood to be approved by the U.S. Food and Drug Administration.

  • May 14, 2025

    5th Circ. Declines To Rehear SEC's Kroger Proxy Decision

    The Fifth Circuit on Wednesday declined to rehear conservative shareholders' case against the U.S. Securities and Exchange Commission over a shareholder proposal from Kroger Co.'s 2023 ballot, following a November opinion that rejected the shareholders' challenge.

  • May 14, 2025

    Feds Say Ex-BigLaw Atty Must Start Prison In OneCoin Case

    Prosecutors asked a Manhattan federal judge on Wednesday to set a date for a former Locke Lord LLP partner to begin serving his 10-year prison sentence after he was convicted of helping to launder about $400 million in proceeds of the OneCoin cryptocurrency scheme.

Expert Analysis

  • State Securities Enforcers May Fill A Federal Enforcement Gap

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    The U.S. Securities and Exchange Commission appears poised to take a lighter touch under the new administration, but state enforcement efforts are likely to continue unabated, and potentially even increase, particularly with regard to digital assets and ESG disclosures, say attorneys at Ropes & Gray.

  • Perfecting Security Interests In Renewable Energy Tax Credits

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    The ability to transfer renewable energy tax credits has created new opportunities for developers, investors and lenders, but it also raises important questions regarding when and how the security interests in these credits are perfected — questions that must be answered definitively to protect credit claims and transactions, says Harry Teichman at Stinson.

  • Firms Still Have Lateral Market Advantage, But Risks Persist

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    Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Recent Cases Highlight Latest AI-Related Civil Litigation Risks

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    Ongoing lawsuits in federal district courts reveal potential risks that companies using artificial intelligence may face from civil litigants, including health insurance coverage cases involving contractual and equitable claims, and myriad cases concerning securities disclosure claims, say attorneys at Katten.

  • What Rodney Hood's OCC Stint Could Mean For Banking

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    Acting Comptroller of the Currency Rodney Hood's time at the helm of the OCC, while temporary, is likely to feature clarity for financial institutions navigating regulations, the development of fintech innovation, and clearer expectations for counsel advising on related matters, say attorneys at Vedder Price.

  • Opinion

    We Must Allow Judges To Use Their Independent Judgment

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    As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.

  • 4 Actions For Cos. As SEC Rebrands Cyber Enforcement Units

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    As the U.S. Securities and Exchange Commission signals its changing enforcement priorities by retooling a Biden-era crypto-asset and cybersecurity enforcement unit into a task force against artificial-intelligence-powered hacks and online investing fraud, financial institutions and technology companies should adapt by considering four key points, say attorneys at Troutman.

  • New SEC Guidance May Change How Investors, Cos. Talk

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    The U.S. Securities and Exchange Commission's recent updates to the Schedules 13D and G compliance and disclosure interpretations may mean large institutional investors substantially curtail the feedback they provide companies about their voting intentions in connection with shareholder meetings, which could result in negative voting outcomes for companies, say attorneys at Cleary.

  • 4 Key Payments Trends For White Collar Attys

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    As the payments landscape continues to innovate and the new administration looks to expand the role of digital currency in the American economy, white collar practitioners should be aware of several key issues in this space, say attorneys at Jenner & Block.

  • Series

    Performing Stand-Up Comedy Makes Me A Better Lawyer

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    Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.

  • Series

    Adapting To Private Practice: From SEC To BigLaw

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    As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.

  • What's Old And New In The CFTC's Self-Reporting Advisory

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    Attorneys at Blank Rome analyze the U.S. Commodity Futures Trading Commission's recent advisory that aims to provide clarity on self-reporting violations of the Commodity Exchange Act, and review whether market participants should shift their thinking — or not — when it comes to cooperation with the CFTC.

  • How Trump's Crypto Embrace Is Spurring Enforcement Reset

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    The U.S. Securities and Exchange Commission's recent willingness to step away from ongoing enforcement investigations and actions underscores the changing regulatory landscape for crypto under the new administration, which now appears committed to working with stakeholders to develop a clearer regulatory framework, say attorneys at Sheppard Mullin.

  • Making The Case For Rest In The Legal Profession

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    For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.

  • During Financial Regulatory Uncertainty, Slow Down And Wait

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    Amid the upheaval at the Consumer Financial Protection Bureau and the slowdown in activity at the prudential agencies, banks must exercise patience before adopting strategic and tactical plans, as well as closely monitor legal and regulatory developments concerning all the federal financial regulators, say attorneys at Dorsey.

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