On March 28, 2025, the U.S. District Court for the Southern District of New York (SDNY) held that it was legal under the Investment Company Act of 1940 (1940 Act) for a closed-end fund to use a shareholder rights plan...more
4/1/2025
/ Board of Directors ,
Corporate Governance ,
Hedge Funds ,
Investment Company Act of 1940 ,
Investment Funds ,
Investment Management ,
Poison Pill ,
Securities Litigation ,
Securities Regulation ,
Shareholder Activism ,
Shareholder Rights
Key Points -
- In 2024, securities litigation remained consistent with historical averages, with a slight increase in core filings and cases related to COVID-19 and artificial intelligence.
- The U.S. Supreme Court had an...more
2/27/2025
/ Acquisitions ,
Automotive Industry ,
Class Action ,
Class Certification ,
Corporate Counsel ,
Digital Assets ,
Filing Requirements ,
Item 303 ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Mergers ,
Popular ,
Private Securities Litigation Reform Act of 1995 ,
PSLRA ,
Real Estate Market ,
Rule 10b-5 ,
SEC v Jarkesy ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
Technology Sector
Key Points -
- During its 2024 term, the U.S. Supreme Court is poised to provide important guidance on the Private Securities Litigation Reform Act’s (PSLRA’s) particularity requirement in NVIDIA Corp. v. E. Ohman J:or...more
12/6/2024
/ Acquisitions ,
Automotive Industry ,
Class Action ,
Cybersecurity ,
Data Privacy ,
Digital Assets ,
E-Commerce ,
Electric Vehicles ,
Energy Sector ,
Financial Institutions ,
Financial Services Industry ,
Healthcare ,
Investment Adviser ,
Life Sciences ,
Mergers ,
NVIDIA ,
Nvidia Corp v E Ohman J or Fonder AB ,
Pharmaceutical Industry ,
PSLRA ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Technology Sector ,
Trading Platforms
Ninth Circuit Affirms Dismissal of Insider Trading Claims Against Satellite Operator Investors Based on Stock Sales After FCC Chairman Vote -
In re Silver Lake Grp., LLC Sec. Litig. (9th Cir. July 24, 2024)
What to...more
10/2/2024
/ Acquisitions ,
Aerospace ,
Bylaws ,
Cannabis Products ,
Class Certification ,
Commercial Litigation ,
Corporate Governance ,
Delaware General Corporation Law ,
Disclosure ,
FCC ,
Fraud ,
Healthcare ,
Insider Trading ,
Life Sciences ,
Marijuana ,
Mergers ,
Pharmaceutical Industry ,
PSLRA ,
Safe Harbors ,
Scienter ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Special Purpose Acquisition Companies (SPACs) ,
Startups ,
Technology Sector
Spotlight -
Macquarie Ruling Raises the Bar for Securities Fraud Claims -
Key Points -
- On April 12, 2024, the U.S. Supreme Court unanimously reversed and vacated the Second Circuit’s decision in Macquarie...more
5/23/2024
/ Acquisitions ,
Commercial Litigation ,
Cryptocurrency ,
Entertainment Industry ,
Financial Institutions ,
Healthcare ,
Life Sciences ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Media ,
Mergers ,
Publicly-Traded Companies ,
Real Estate Market ,
Retail Market ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation
Securities Class Actions Show No Signs of Slowing in 2024 -
Key Points -
While the volume of securities class actions filings has remained consistently elevated over the past several years, the composition of the class...more
3/5/2024
/ Class Action ,
Corporate Governance ,
Digital Assets ,
Educational Institutions ,
Energy Sector ,
Entertainment Industry ,
Financial Services Industry ,
Healthcare ,
Life Sciences ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Media ,
Publicly-Traded Companies ,
Retailers ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Litigation ,
Securities Regulation
In this issue, we cover regulatory developments from the fourth quarter of 2023 impacting the investment management sector, including the use of shareholder rights plans as an alternative to state control share statutes....more
2/21/2024
/ Bitcoin ,
Closed-End Funds ,
Compliance Dates ,
Controlling Stockholders ,
Corporate Governance ,
Disclosure Requirements ,
Disgorgement ,
Exchange-Traded Products ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Company Act of 1940 ,
Investment Management ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Settlement Agreements ,
Shareholders ,
Stock Repurchases ,
Voting Rights
On December 5, 2023, the U.S. District Court for the Southern District of New York (SDNY) granted summary judgment in favor of a group of plaintiffs led by Saba Capital Management, L.P. in its case challenging a number of...more
In this issue, we cover regulatory developments impacting the investment management sector, including updates on closed-end fund activism and various new and revised SEC rules....more
3/1/2023
/ Activist Investors ,
Advertising ,
Bylaws ,
Corporate Governance ,
Disclosure Requirements ,
Enforcement ,
Executive Compensation ,
Investment ,
Investment Adviser ,
Liquidity Management ,
Open-Ended Fund Companies (OFCs) ,
Outsourcing ,
Popular ,
Proposed Regulation ,
Proposed Rules ,
Proxy Voting ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
In this issue, we cover regulatory developments impacting the investment management sector, including updates on closed-end fund activism; new SEC proposals; and the impact of Russia sanctions on disclosure obligations and...more
In this issue, we summarize regulatory, litigation and industry developments from October 2019 to early January 2020 impacting the investment management sector, including SEC action on use of derivatives by registered...more
1/16/2020
/ Activist Investors ,
BDC ,
Bench Trial ,
Breach of Contract ,
Class Action ,
Closed-End Funds ,
Comment Period ,
Cross-Border ,
Derivatives ,
ETFs ,
Exemptive Relief ,
Fee Disclosure ,
Filing Fees ,
Investment Adviser ,
Investment Management ,
Libor ,
MiFID II ,
Mutual Funds ,
OCIE ,
Proposed Amendments ,
Proposed Rules ,
Proxy Access Rule ,
Proxy Voting Guidelines ,
Registered Investment Companies (RICs) ,
Regulatory Requirements ,
Risk Alert ,
Rule 10(b) ,
Rule 18f-4 ,
Rulemaking Process ,
Section 11 ,
Section 36(b) ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Settlement Agreements ,
Settlement Negotiations ,
Shareholder Proposals ,
Solicitation Provisions ,
Testing-the-Waters Communications