Âé¶¹´«Ã½

Securities

  • May 28, 2025

    Checkpoint Pharma Sued For Docs On $355M Merger Plan

    Stockholders of cancer drug developer Checkpoint Pharmaceuticals sued the company in Delaware's Chancery Court for documents on its proposed $355 million acquisition by India-based Sun Pharmaceuticals, alleging conflicts and lack of disclosures regarding the role played by Checkpoint's controlling investor, Fortress Biotech.

  • May 28, 2025

    4th Circ. Finds Towers Watson's Merger Deals Not Covered

    Towers Watson's insurers have no obligation to pay out their remaining directors and officers coverage to help fund settlements resolving shareholder litigation over the company's merger with Willis, the Fourth Circuit affirmed Wednesday, saying the deals fall plainly within the scope of a so-called bump-up exclusion.

  • May 28, 2025

    DOL Rescinds Warning Against Crypto In 401(k) Plans

    The U.S. Department of Labor on Wednesday rescinded guidance by former President Joe Biden's administration that warned against crypto offerings in 401(k) plans, which had sparked a legal challenge from a 401(k) provider against the agency.

  • May 27, 2025

    Proterra Investors Push For Final OK Of $29M Settlement

    Proterra Inc. investors have asked a California federal court to sign off on a $29 million deal resolving allegations that the bankrupt electric-vehicle maker's executives misled them about liquidity issues, according to a motion for final approval of the settlement filed Tuesday.

  • May 27, 2025

    Crypto Industry Urges CFTC Action On Perpetual Contracts

    Derivatives marketplaces and cryptocurrency firms told the U.S. Commodity Futures Trading Commission that setting rules for so-called perpetual derivatives would bring significant crypto trading activity onshore, but the regulator will have to contend with round-the-clock trading, novel risks and characteristics that don't fit neatly into existing classifications.

  • May 27, 2025

    Drone Co. Overhyped Army Contract Prospects, Investor Says

    Drone maker Red Cat Holdings Inc. faced a proposed investor class action alleging it misled investors about its expectations for capitalizing on a prospective U.S. Army contract, hurting shareholders as markets reacted to adverse news about the contract and the company's potential revenue from the deal.

  • May 27, 2025

    Bluebird Bio Beats Investor Suit Over FDA Cancer Warning

    Massachusetts-based biotechnology company Bluebird Bio Inc. has beaten a shareholder suit accusing it of misleading investors about the likelihood of the U.S. Food and Drug Administration's decision requiring a "black box warning" on one of its products due to the cancer risk it posed.

  • May 27, 2025

    Next Meats Beats Investor Suit Over 'Short Swing' Profits

    The controlling shareholders of Japan-based Next Meats have beaten, for good, a suit alleging they collected unlawful short-swing profits after a New York federal judge found the plaintiff could not satisfy the so-called Morrison test of demonstrating a domestic securities transaction that can be tried in U.S. courts.

  • May 27, 2025

    Unlicensed Adviser Charged With $4M Securities Fraud In NC

    Federal prosecutors in North Carolina have charged an unlicensed California investment adviser with fraud and money laundering after he allegedly lured more than 30 victims into investing more than $4 million in bogus commercial real estate opportunities.

  • May 27, 2025

    Chancery Footnotes Raise Post-SB 21 Stir In Delaware

    A Delaware vice chancellor has created a stir with expansive opinion footnotes pushing back on the state Supreme Court's rejection of a controller's liability to stockholders after rechartering a business in more board-friendly Nevada, close on the heels of a bitter legislative debate over reworking Delaware corporate law.

  • May 27, 2025

    CFTC Member Speaks On Agency Exits: 'Not A Great Situation'

    Departing U.S. Commodity Futures Trading Commission member Christy Goldsmith Romero said Tuesday that a possible leadership void at the agency could do a "great disservice to regulation" at a time when Congress is thinking of handing the agency the keys to the cryptocurrency industry.

  • May 27, 2025

    Davis Polk-Led Stablecoin Giant Circle Eyes $600M IPO

    Venture-backed stablecoin issuer Circle Internet Group Inc. on Tuesday launched plans for an estimated $600 million initial public offering, represented by Davis Polk & Wardwell LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP, rekindling its IPO after a tariff-related pause.

  • May 27, 2025

    EV-Maker Polestar Faces Investor Suit Over Financial Reports

    Swedish electrical vehicle company Polestar has been hit with a proposed shareholder class action accusing it of misleading investors by failing to maintain proper internal controls, which caused it to misreport liabilities and assets on its balance sheets for several quarters.

  • May 27, 2025

    Bank Groups Agree To Pause Of Fed Stress Test Suit

    Major banking trade groups and the board of governors of the U.S. Federal Reserve System came together to ask an Ohio federal judge to pause their dispute over the board's big bank stress test practices, telling the court that the trade groups' concerns are being addressed.

  • May 27, 2025

    Tesla Asks Delaware Justices To Slash $176M Class Atty Fee

    Attorneys for Tesla Inc. have told Delaware's Supreme Court that counsel for stockholders who secured a disputed $735 million in savings from director cash and options rollbacks deserve less than the $176.2 million fee awarded the team.

  • May 27, 2025

    'I Need To Be Careful': Judge Wades Into Musk-Firm Conflict

    A New York federal judge questioned his authority to weigh in on Bernstein Litowitz Berger & Grossmann LLP's hiring decisions after it sought permission to employ a former U.S. Securities and Exchange Commission attorney who Elon Musk claims could disadvantage him in a shareholder lawsuit, asking the firm and Musk to brief him on what may be an issue of first impression.

  • May 27, 2025

    High Court Passes On Axed $563M BMO Harris Ponzi Verdict

    The U.S. Supreme Court on Tuesday declined to review the Eighth Circuit's decision to strike down a $563 million jury verdict against BMO Harris NA over claims that a bank it acquired had aided and abetted Thomas J. Petters' multibillion-dollar Ponzi scheme.

  • May 23, 2025

    Âé¶¹´«Ã½360 Reveals Titans Of The Plaintiffs Bar

    This past year, a handful of attorneys secured billions of dollars in settlements and judgments for both classes and individual plaintiffs against massive companies and organizations like Facebook, Dell, the National Association of Realtors, Johnson & Johnson, UFC and Credit Suisse, earning them recognition as Âé¶¹´«Ã½360's Titans of the Plaintiffs Bar for 2025.

  • May 23, 2025

    NY Judge Axes $110M Mango Markets Trader's Fraud Verdict

    A Manhattan federal judge on Friday granted a crypto trader's request to overturn a conviction for defrauding platform Mango Markets out of roughly $110 million, finding that prosecutors didn't link his conduct to New York and failed to show he duped the platform.

  • May 23, 2025

    Cooley Beats Malpractice Claim In NJ Investor Suit, For Now

    A New Jersey federal judge on Friday trimmed a securities fraud lawsuit alleging Cooley LLP and its attorneys deliberately hid from an investor fraud claims against a startup's CEO, dismissing legal malpractice allegations against Cooley and four attorneys, but keeping alive other claims and letting the plaintiff amend his suit.

  • May 23, 2025

    SEC Cracks Door For Retail Entry Into Private Funds

    The U.S. Securities and Exchange Commission is exploring increasing retail access to private funds, marking one of several pivotal shifts the watchdog is considering that would widen public exposure to the vast but less regulated world of private markets.

  • May 23, 2025

    2nd Circ. Rejects Novel Short-Swing Trading Theory

    Controlling shareholders who sell stock at a time when their company is conducting a share repurchase program cannot be sued to recoup so-called short-swing profits, the Second Circuit said in rejecting a novel legal theory Friday.

  • May 23, 2025

    Calif. Developer Duped Churchgoers In $46M Scam, Feds Say

    A Sonoma, California, real estate developer faces federal wire fraud and money laundering charges in connection with claims he duped hundreds of would-be investors — some of whom are described in court filings as elderly members of his church congregation — into giving him over $46 million as purported investments in certain real estate limited partnerships that their funds were never actually invested in.

  • May 23, 2025

    Banking Groups Want SEC To Pull Cyber Disclosure Mandates

    A group of banking trade associations has called on the U.S. Securities and Exchange Commission to rescind a Biden-era mandate requiring public companies to disclose certain cybersecurity incidents, arguing it increases companies' risk when they fall victim to cyberattacks.

  • May 23, 2025

    Coinbase Investor Sues Over Hack Fallout, UK Fine

    A Coinbase stockholder brought a proposed class action against the crypto exchange, claiming she and other investors felt the fallout after the firm suffered a headline-grabbing data breach and an earlier run-in with a U.K. regulator.

Expert Analysis

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q1

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    Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.

  • How The ESG Investing Rule Survived Loper Bright, For Now

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    A Texas federal court's recent decision in Utah v. Micone upholding the U.S. Department of Labor's 2022 ESG investing rule highlights how regulations can withstand the post-Loper Bright landscape when an agency's interpretation of its statutorily determined boundaries is not granted deference, say attorneys at Miller & Chevalier.

  • Series

    Adapting To Private Practice: From DOJ Leadership To BigÂé¶¹´«Ã½

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    The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.

  • SEC Crypto Mining Statement Delivers Regulatory Clarity

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    The U.S. Securities and Exchange Commission's March 20 statement clarifying that certain crypto mining activities do not constitute the offer and sale of securities marks the end of the SEC's enforcement-first approach and ushers in a more predictable environment for blockchain innovation and investment, says Jeonghoon Ha at Ha Âé¶¹´«Ã½.

  • Nev. Fraud Ruling Raises Stakes For Proxy Battles

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    Though a Nevada federal court’s recent U.S. v. Boruchowitz decision involved unusual facts, the court's ruling that board members can be defrauded of their seat through misrepresentations increases fraud risks in more typical circumstances involving board elections, especially proxy fights, say attorneys at ArentFox Schiff.

  • Âé¶¹´«Ã½ Firm Executive Orders Create A Legal Ethics Minefield

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    Recent executive orders targeting BigÂé¶¹´«Ã½ firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.

  • The OCC's Newly Relaxed Approach To Bank Crypto Activity

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    With the early March rescission of Biden-era interpretive guidance, the Office of the Comptroller of the Currency has loosened its approach to regulating national banks and federal savings associations' crypto-asset activities, possibly removing one barrier to banks engaging in such activities, say attorneys at Debevoise.

  • Firms Must Embrace Alternative Billing Models Or Fall Behind

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    As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.

  • Opinion

    7 Ways CFTC Should Nix Unnecessary Regulatory Burdens

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    Several U.S. Commodity Futures Trading Commission regulations do not work efficiently in practice, all of which can be abolished or improved in order to comply with a recent executive order requiring the elimination of 10 regulations for every new one implemented, say attorneys at K&L Gates.

  • How Attorneys Can Master The Art Of On-Camera Presence

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    As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.

  • What Del. Corporate Âé¶¹´«Ã½ Rework Means For Founder-Led Cos.

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    Although the amendments to the Delaware General Corporation Âé¶¹´«Ã½ have proven somewhat divisive, they will provide greater clarity and predictability in the rules that apply to founder-led companies navigating transactions concerning controlling stockholders and responding to books-and-records requests, say attorneys at Munger Tolles.

  • Series

    Baseball Fantasy Camp Makes Me A Better Âé¶¹´«Ã½yer

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    With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.

  • Paul Atkins' Past Speeches Offer A Glimpse Into SEC's Future

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    Following Paul Atkins' Thursday Senate confirmation hearing, a look at his public remarks while serving as a commissioner at the U.S. Securities and Exchange Commission between 2002 and 2008 reveals eight possible structural and procedural changes the SEC may see once he likely takes over as chair, say attorneys at Covington.

  • Series

    Adapting To Private Practice: From Fed. Prosecutor To BigÂé¶¹´«Ã½

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    Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.

  • The Fund Finance Market Is In Its Transformative Era

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    The fund finance market is experiencing explosive growth as it develops into a mature and sophisticated industry, with several recent developments – such as an increase in net asset value lending and a shift toward borrower-friendly terms – reshaping the landscape of this rapidly evolving sector, say attorneys at Fried Frank.

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