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Securities

  • May 30, 2025

    Fla. Trucking Co. Exec Gets 23 Years For Duping 1,600 People

    A Florida federal judge on Friday sentenced the former president of a trucking and logistics company to 23 years in prison for defrauding more than 1,600 people who invested millions of dollars in purchasing big-rig vehicles, calling the crime "a classic Ponzi scheme of staggering scale."

  • May 30, 2025

    Ex-Wells Fargo Exec Sues To Enforce DOL Retaliation Order

    A former senior official with Wells Fargo Bank NA has filed suit in a California federal court to force the bank to comply with an order from a U.S. Department of Labor agency finding he is entitled to more than $20 million for purported retaliation after he blew the whistle on legal concerns and was subsequently fired.

  • May 30, 2025

    Convicted Crypto Investor's Wife Says Gov't Can't Seize Funds

    The wife of a bitcoin investor sentenced to prison for concealing millions of dollars from the IRS asked a Texas federal court Friday to stop the federal government from taking her money to help make up for $1 million in restitution stemming from his cryptocurrency sales.

  • May 30, 2025

    OFAC Sanctions Philippine Biz, Alleging Role In Cyber Scams

    The Office of Foreign Assets Control has sanctioned a Philippines-based technology company for allegedly providing computer infrastructure to "hundreds of thousands" of websites involved in virtual currency scams, according to a statement.

  • May 30, 2025

    REIT Investors' $12M Deal Over NexPoint Merger Get Final OK

    A New York federal judge granted final approval to a $12 million securities class action settlement reached with Jernigan Capital investors who alleged the defendants omitted material information amid a 2020 sale to NexPoint Advisors, and awarded $3.9 million in fees Thursday to lead counsel for prosecuting the case.

  • May 30, 2025

    Texas Law Firm Beats Atty's Suit Over Stock Redemption

    A Texas state appeals court has upheld Friedman Suder & Cooke PC's win in its decade-long dispute with a former shareholder over the redemption of his shares when he was let go, affirming a trial court ruling declaring the redemption "effective and operative."

  • May 30, 2025

    Taxation With Representation: Kirkland, Cravath, Latham

    In this week's Taxation With Representation, WiseTech completes a $2.1 billion merger with E2open, Acrisure buys a payroll management company for $1.1 billion and Hailey Bieber sells her Rhode skincare and makeup company to e.l.f. beauty for $1 billion.

  • May 29, 2025

    ZoomInfo Wants Out Of Investors' Accounting Fraud Claims

    Software company ZoomInfo Technologies Inc. urged a Washington federal judge to toss a proposed investor class action accusing it of making missteps in an effort to retain new pandemic-era customers, claiming the "fraud-by-hindsight" allegations are inactionable.

  • May 29, 2025

    Judge Trims Most, But Not All, Of Grifols Suit Over Share Price

    A New York federal judge Thursday tossed several defamation claims made by Spanish healthcare company Grifols SA against short seller Gotham City Research, finding that the claims are opinions and therefore inactionable, while keeping alive a claim tied to statements in the report that Grifols failed to disclose a $95 million loan, finding it was a factual statement.

  • May 29, 2025

    $17.5M TaskUs Investor Deal Gets Magistrate's Endorsement

    A federal magistrate judge has recommended preliminary approval of a $17.5 million settlement between digital solutions providers TaskUs and its investors who claim the company made false statements about its turnover and Glassdoor ratings, saying the parties' revisions to the deal are justified.

  • May 29, 2025

    Investment Firm Says It Was Duped Into $349M Dental Deal

    Investment firm TSG8 SDB Group Holdings LP has filed suit in Delaware Superior Court claiming a Texas-based holding company tricked it into pouring $349 million into a specialty dental practices platform based on fake financials and phony growth claims, and hid the business's problems just long enough to cash out.

  • May 29, 2025

    House Introduces CFTC-Focused Crypto Market Structure Bill

    A bipartisan group of House lawmakers introduced a long-awaited proposal to regulate crypto markets on Thursday that would establish a registration path at the U.S. Commodity Futures Trading Commission and codify the boundaries of jurisdiction between commodities and securities regulators.

  • May 29, 2025

    PCAOB Taps New Acting General Counsel

    The Public Company Accounting Oversight Board on Thursday announced that Connor Raso has been appointed acting general counsel, following stints in the PCAOB's office of the general counsel and at the U.S. Securities and Exchange Commission.

  • May 29, 2025

    Delaware Justices Asked To Review Corporate Law Rework

    A biopharmaceutical company stockholder has sought direct certification of a derivative suit to Delaware's Supreme Court, asking for state constitutional review of legislation approved in March that limits avenues for challenges to some corporate acts.

  • May 29, 2025

    Real Estate CFO, Mogul's Daughter Dodge Two Trustee Claims

    The chief financial officer of bankrupt construction services company Gateway Development Group Inc. and the daughter of the company's chair have escaped a Chapter 7 trustee's claims that they helped the chair breach his fiduciary duties, with a judge ruling the claims aren't recognized under Connecticut law.

  • May 29, 2025

    2nd Circ. Upholds KeyBank Adviser's $1.1M Defamation Win

    The Second Circuit on Thursday upheld a $1.1 million award against a brokerage firm accused of making defamatory remarks about a former employee, ruling that Financial Industry Regulatory Authority arbitrators did not disregard the law in handing down the punishment.

  • May 29, 2025

    NASCAR Wins Defamation Claims Over LGBCoin Sponsorship

    A Florida state court judge ruled in favor of NASCAR on defamation claims brought by the founder of the LGBCoin cryptocurrency regarding communications to journalists, saying a published statement that the meme coin was almost worthless was "undisputably true."

  • May 29, 2025

    SEC Drops Binance Suit In Latest Crypto Reversal

    The U.S. Securities and Exchange Commission on Thursday voluntarily ended a lawsuit accusing crypto platform Binance of mishandling customer funds and deceiving regulators, citing the agency's ongoing efforts to change the way it regulates the digital asset industry.

  • May 29, 2025

    $45M Settlement, $9.65M Fee OK'd In Del. Cornerstone Suit

    Stockholders who challenged Clayton Dubilier & Rice LLC's $5.8 billion take-private deal for Cornerstone Building Brands in 2022 secured a $45 million settlement Thursday, in a case that once saw a Delaware vice chancellor blast as "farcical" the two companies' early, alleged attempts to camouflage price negotiations to get around a standstill agreement.

  • May 29, 2025

    Judge Tells FDIC 'Whistleblower' To Stop Texting Gov't Attys

    A D.C. federal judge threatened a self-proclaimed Federal Deposit Insurance Corp. "whistleblower" with criminal referral if he reaches out to the agency's lawyers again, calling his claim that one attorney was trying to frame him with sending "harassing" messages sent to the attorney's wife "patently ridiculous."

  • May 29, 2025

    Investors Allege Manhattan Firm Aided $43M Ponzi Scheme

    A pair of investors filed suit against New York-based Moritt Hock & Hamroff LLP and two of its former attorneys on Thursday, alleging that the midsize firm and the attorneys, who have since departed for Saul Ewing LLP, lied on behalf of a client who has since been charged with running a $43 million Ponzi scheme.

  • May 29, 2025

    'Dr. Cash' Gets 3 Years For Bilking Elderly Fund Investors

    A recidivist fraudster nicknamed "Dr. Cash" was sentenced in Manhattan federal court Thursday to three years in prison, after he admitted to defrauding clients who poured $4.8 million into his purported "Chairman's Fund."

  • May 29, 2025

    Javice Request To Sink Guilty Verdict Turned Aside By Judge

    A Manhattan federal judge declined on Thursday to toss a verdict convicting Frank founder Charlie Javice of tricking JPMorgan Chase into buying the student aid startup for $175 million, saying he properly declined to sever her trial from that of her co-defendant.

  • May 29, 2025

    Clifford Chance Hires Investment Funds Partner From Kirkland

    Clifford Chance LLP announced Tuesday the hiring of a partner at Kirkland & Ellis LLP for its funds and investment management practice in the U.S., a month after Kirkland picked up an investment funds partner from Clifford Chance.

  • May 29, 2025

    Ex-Goldman Partner, Star Witness In 1MDB Trial, Gets 2 Years

    Former Goldman Sachs partner and star 1MDB prosecution witness Tim Leissner was sentenced Thursday to two years in prison for his role in a global conspiracy to siphon more than $2.7 billion for bribes and kickbacks from the Malaysian sovereign wealth fund in order to facilitate Goldman-backed bond deals.

Expert Analysis

  • Opinion

    Ripple Settlement Offers Hope For Better Regulatory Future

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    The recent settlement between the U.S. Securities and Exchange Commission and Ripple — in which the agency agreed to return $75 million of a $125 million fine — vindicates criticisms of the SEC and highlights the urgent need for a complete overhaul of its crypto regulation, says J.W. Verret at George Mason University.

  • Series

    Law School's Missed Lessons: Preparing For Corporate Work

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    Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.

  • FDIC Shift On ALJs May Show Agencies Meeting New Norms

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    The Federal Deposit Insurance Corp.’s recent reversal, deciding to not fight a Kansas bank’s claim that the FDIC's administrative law judge removal process is unconstitutional, shows that independent agencies may be preemptively reconsidering their enforcement and adjudication authority amid executive and judicial actions curtailing their operations, say attorneys at Snell & Wilmer.

  • Opinion

    The SEC Must Protect Its Best Tool For Discovering Fraud

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    By eliminating the consolidated audit trail's collection of most retail customer information, the U.S. Securities and Exchange Commission may squander a once-in-a-generation opportunity to deter securities market fraud and abuse, something new Chair Paul Atkins must ensure doesn't happen, says former SEC data strategist Hugh Beck.

  • Meta Case Brings Customer-Facing Statements Issue To Fore

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    Now that Facebook v. Amalgamated Bank has returned to California federal court after the U.S. Supreme Court in November found it improvidently granted certiorari, it will be worth watching whether customer-facing communications, such as Facebook's privacy policies, are found to be made in connection with the sale of a security, says Samuel Groner at Fried Frank.

  • A Cold War-Era History Lesson On Due Process

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    The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.

  • How Latin American Finance Markets May Shift Under Trump

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    Changes in the federal government are bringing profound implications for Latin American financial institutions and cross-border financing, including increased competition from U.S. banks, volatility in equity markets and stable green investor demand despite deregulation in the U.S., says David Contreiras Tyler at Womble Bond.

  • Series

    Improv Makes Me A Better Lawyer

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    Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.

  • How BigLaw Executive Orders May Affect Smaller Firms

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    Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.

  • Opinion

    Lawsuits Shouldn't Be Shadow Assets For Foreign Capital

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    Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.

  • 2 Del. Rulings Reinforce Proof Needed For Records Demands

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    Two recent Delaware Court of Chancery decisions involving Amazon and Paramount Global illustrate the significance of the credible basis standard on books and records requests, underscoring that stockholders seeking to investigate wrongdoing must come forward with actual evidence of misconduct — not mere allegations, say attorneys at Cleary.

  • How To Accelerate Your Post-Attorney Career Transition

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    Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.

  • 3 Action Items For Innovators Amid Fintech Regulatory Pivot

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    As the federal banking agencies seek to smooth the way for banks to engage in crypto-related activities, banks and technology companies should take note of this new chapter in payments services, especially as leadership in digital financial technology becomes a national priority, says Jess Cheng at Wilson Sonsini.

  • How Tariffs May Affect Proxy Contests This Season

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    While global tariffs imposed by the Trump administration will certainly chill at least some activity this proxy season, and make defending contests significantly easier, there will likely be many new activist investments once there is more economic certainty, meaning more proxy fights this fall, say attorneys at Sidley.

  • A Closer Look At New NYSE, Nasdaq Listing Rule Changes

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    The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.

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