Try our Advanced Search for more refined results
Securities
-
May 07, 2025
UnitedHealth Hid Biz Impact Of CEO's Killing, Investor Says
UnitedHealth Group concealed how public scrutiny of its coverage policies and backlash from the killing of its CEO was harming its business, leading to plummeting stock prices when the insurer lowered its 2025 earnings outlook, according to a proposed investor class action filed Wednesday in New York federal court.
-
May 07, 2025
Senate Backs Bid To Scrap Biden-Era OCC Bank Merger Rule
Senators voted Wednesday to repeal the Office of the Comptroller of the Currency's Biden-era revamp of its bank merger review standards, advancing an effort to undo a rule that banks criticized as creating more complication and uncertainty for their deals.
-
May 07, 2025
Investors Fight J&J, Kenvue Bid To Nix IPO Fraud Suit
A New Jersey federal judge shouldn't reconsider his decision to sustain IPO fraud claims against pharmaceutical giant Johnson & Johnson and a former subsidiary, investors suing the companies said Wednesday by arguing that the judge was right to find that the companies should have disclosed a "serious challenge" to the effectiveness of a common medication ingredient in public filings.
-
May 07, 2025
Judge Certifies Class In Wheat Futures Manipulation Case
An Illinois federal judge Wednesday certified a class of traders who held positions in certain wheat futures contracts in a class action accusing agribusiness The Andersons Inc. of manipulating its wheat futures and options price, saying, "most importantly, the efficiencies of adjudicating this matter as a class action are overwhelming."
-
May 07, 2025
Chancery Arrest Order Sought In Family Holding Co. Feud
Two principals in real estate venture Regency Holdings LLC sought a rare Delaware Court of Chancery civil contempt and arrest order Wednesday, accusing their sister — Regency's ex-manager and purported majority interest holder — of diverting millions of dollars in company assets despite the appointment of two receivers.
-
May 07, 2025
Upstart Says SEC Has Ended Probe Into AI, Loan Disclosures
The U.S. Securities and Exchange Commission has closed an investigation into online lender Upstart's disclosures around the use of artificial intelligence for underwriting and loans, according to the firm's latest agency filing.
-
May 07, 2025
Moelis Atty Says Chancery Ruling 'Handcuffed' Co.
A Delaware Court of Chancery ruling that last year invalidated a decade-old stockholder agreement granting broad corporate powers to investment bank Moelis & Co.'s founder "handcuffed for no reason" directors of state-chartered corporations, an attorney for the company told Delaware's Supreme Court on Wednesday.
-
May 07, 2025
Del. Justices Deny Bid To Revive Carvana Insider Trading Suit
Delaware's Supreme Court rejected a bid by Carvana stockholders to revive insider trading claims against the father of the company's CEO, alleging the senior businessman controlled the online car retailer and used inside information when selling $3.7 billion in shares.
-
May 07, 2025
Walgreens Wants 'Far-Fetched' Shareholder Suit Tossed
Walgreens contends that a proposed class action alleging it inflated share prices by concealing the lack of viability of its pharmacy division and primary clinic investment must be dismissed because it lacks factual allegations to back its claim that Walgreens made any misstatements to shareholders about its financial outlook, let alone with fraudulent intent.
-
May 07, 2025
NYC Developer Conned Investors Out Of $10M, Feds Say
A real estate developer involved in several projects in New York City was charged by federal prosecutors with misappropriating about $10 million in investor funds and using the money to finance a lavish lifestyle and cover gambling losses.
-
May 07, 2025
FSOC Rethink Of SIFI Labeling 'Is On Agenda,' Bessent Says
U.S. Treasury Secretary Scott Bessent signaled at a U.S. House hearing on Wednesday that the Financial Stability Oversight Council may seek again to curb its power to single out large asset managers and other nonbank financial firms for heightened regulation.
-
May 07, 2025
McMahon's Misconduct Docs Sought In WWE Merger Suit
Shareholders seeking damages from World Wrestling Entertainment Inc.'s disputed $21.4 billion merger with Ultimate Fighting Championship have urged a Delaware vice chancellor to force WWE's former CEO, Vince McMahon, to hand over documents regarding his alleged sexual misconduct and hush money payments, arguing they are central to the suit.
-
May 07, 2025
Nordstrom's Investor Can't Block Vote On Go-Private Deal
A Washington federal judge said he won't block a shareholder vote on Nordstrom's proposed $6.25 billion deal to go private, issuing a sealed order on Tuesday denying a preliminary injunction bid in a proposed investor class action.
-
May 07, 2025
Top Regional Atty At Binance Joins Steptoe White Collar Team
The former legal leader for Binance's Americas region, who also has been in-house with Vimeo and the U.S. Commodity Futures Trading Commission, has transitioned into private practice at Steptoe LLP, the firm said Wednesday, as policymakers work to set rules of the road for cryptocurrency.
-
May 06, 2025
Dems Exit Hearing After Calling For Crypto Conflict Limits
House Democrats continued to call for coming digital asset legislation to limit potential conflicts of interest in light of the Trump family's crypto ventures at a Tuesday joint hearing between the financial services and agriculture committees that saw some members walk out in opposition.
-
May 06, 2025
PennyMac Wins Quick 9th Circ. Appeal Of Libor-Rate Ruling
A California federal judge on Monday allowed PennyMac entities to pursue their quick appeal in a proposed class action alleging they illegally imposed a lower fixed interest rate instead of a variable rate on preferred-stock dividends, asking the Ninth Circuit to clarify whether the Libor Act bars such fixed rates.
-
May 06, 2025
VIX Note Investors Can't Revise Revived Suit, Judge Finds
Investors who claimed Credit Suisse manipulated the market for a certain exchange-traded note it issued can't revise their suit to add claims about the bank's lending practices and internal calculations, a New York federal judge has determined.
-
May 06, 2025
SDNY Taps Sullivan & Cromwell Atty To Lead Criminal Division
A former Sullivan & Cromwell LLP partner has been selected to lead the U.S. Attorney's Office for the Southern District of New York's criminal division, according to an announcement made Tuesday.
-
May 06, 2025
Medical Device Co. SeaStar Seeks Toss Of Shareholder Suit
SeaStar Medical Inc. has urged a Colorado federal judge to toss a proposed class action alleging the healthcare company misled investors about potential regulatory risks and compliance deficiencies, arguing the amended complaint "attempts to create the illusion of factual particularity through a façade of prolixity."
-
May 06, 2025
Judge Scolds US Over 'Vague' Bid To Stay $380M Award Row
A California federal judge has scolded the Trump administration as it tries to seize part of a $380 million arbitral award purportedly tied to embezzled Malaysian funds, saying it has not constructively engaged in the discovery process while seeking a stay during related criminal proceedings.
-
May 06, 2025
NC Staffing Biz Hits Ch. 11 After Scuttled Merger And Delisting
Five affiliates of a North Carolina staffing company have filed for Chapter 11 bankruptcy protection, listing debts of up to $100 million after a planned merger fell through and its stock was delisted.
-
May 06, 2025
Golf Gear Co. Sued In Del. Over Controller Share Sales
A pension fund stockholder of golf gear maker and distributor Acushnet Holdings Corp. sued its controlling stockholders and directors on Monday for purportedly lining up hundreds of millions in company share repurchases that preserved the controllers' status despite repeated stock sales.
-
May 06, 2025
SEC Panel Says Easier Trading Would Rev Up 'Reg A'
A small business-focused committee advising the Securities and Exchange Commission expressed renewed support on Tuesday for easing secondary trading in connection with Regulation A, hoping to broaden the appeal of this lightly used alternative to an initial public offering.
-
May 06, 2025
B. Riley Escapes Investor Suit Over National Holdings Buyout
Delaware's Chancery Court has dismissed B. Riley Financial Inc. from a suit challenging its 2021 acquisition of National Holdings Corp., rejecting a former National stockholder's claim that B. Riley controlled the negotiations in the shadow of its significant stake in National.
-
May 06, 2025
SEC Asks High Court To Skip $22.7M Disgorgement Case
The U.S. Securities and Exchange Commission responded to an investment advisory firm's request for the U.S. Supreme Court to review a First Circuit ruling upholding an order for the firm to pay $22.7 million in disgorgement, arguing that investor losses are not necessary for disgorgement orders.
Expert Analysis
-
Calif. Cannabis Decision Deepens Commerce Clause Divide
In Peridot Tree v. Sacramento, the Eastern District of California joined a growing minority of courts that have found the dormant commerce clause inapplicable to state-regulated marijuana, and the Ninth Circuit will soon provide important guidance on this issue, say attorneys at Perkins Coie.
-
Takeaways From DOJ Fraud Section's 2024 Year In Review
Attorneys at Paul Weiss highlight notable developments in the U.S. Department of Justice Fraud Section’s recently released annual report, and discuss what the second Trump administration could mean for enforcement in the year to come.
-
Recent SEC Actions Highlight Importance Of Filing Form D
The U.S. Securities and Exchange Commission's enforcement action against three companies last month for failing to timely file Form D is an unprecedented step that should put an end to Regulation D issuers' views that filing these forms is a technical requirement or somewhat voluntary, says Patrick McCloskey at McCloskey Law.
-
The 7th Circ.'s Top 10 Civil Opinions Of 2024
Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2024, and explain how they may affect issues related to mass arbitration, consumer fraud, class certification and more.
-
Kansas Bank's Suit Could Upend FDIC Enforcement Authority
​​​​​​​Should CBW Bank's federal lawsuit in Kansas challenging the Federal Deposit Insurance Corp.'s enforcement authority gain traction with a post-Chevron U.S. Supreme Court, it could have profound implications for the FDIC and the banking industry at large, says Jack Harrington at Bradley Arant.
-
End-Of-Year FCPA Enforcement Surge Holds Clues For 2025
The last three months of 2024 saw more Foreign Corrupt Practices Act enforcement actions than any quarter in the previous four years, providing lessons for companies — even as a new administration raises doubts about whether this momentum will continue, say attorneys at Norton Rose.
-
What's Next For Accounting Enforcement After SEC's Big 2024
The U.S. Securities and Exchange Commission under the Trump administration will likely continue to focus enforcement efforts on many of the same accounting and auditing issues that it pursued over the past year — but other areas, such as ESG, internal controls and cryptocurrency cases, may fall out of focus, say attorneys at Debevoise.
-
Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
-
Insights For Finance Firms, Regulators From House AI Report
Though a U.S. House of Representatives report encourages the financial sector to embrace artificial intelligence tools, its focus on ensuring high-quality datasets, transparent development and equitable access underscores that firms and regulators must strike a delicate balance between technological innovation and responsible implementation, says Brendan Palfreyman at Harris Beach.
-
UPS Penalty Demonstrates Goodwill Impairment Red Flags
The U.S. Securities and Exchange Commission's recent $45 million penalty against UPS for withholding reports of goodwill impairment should warn investors to watch for the telltale signs of companies inflating their worth by delaying tests that would reveal similar declines in the value of intangible assets, say attorneys at Labaton Keller.
-
Series
Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
-
5 Litigation Funding Trends To Note In 2025
Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.
-
For Accounting Integrity, Start With The Rank-And-File
Macy's acknowledgment of an employee's accounting mistake underscores a valuable lesson for company leaders in fostering compliance with the Sarbanes-Oxley Act by cultivating a culture committed to strong accounting integrity and robust oversight, say Keerthika Subramanian and Jon Mantis at Winston & Strawn.
-
Managing Litigation Side-Switching During 2nd Trump Admin
Now that the new presidential administration is in place, the government will likely switch positions in a number of pending cases, and stakeholders should employ strategies to protect their interests, say attorneys at Covington.
-
Chancery May Have Raised Bar For Books, Records Requests
The Delaware Court of Chancery recently approved the denial of a books and records demand against Amazon, raising important questions about what evidence and purpose a stockholder is required to show to succeed on such a request, say attorneys at Selendy Gay.