In a pair of orders issued this month, the U.S. Supreme Court signaled plans to provide further guidance in its upcoming Fall term concerning application of the heightened standard for pleading securities fraud claims...more
7/2/2024
/ Acquisitions ,
Appeals ,
Data-Sharing ,
Facebook ,
Form 10-K ,
Petition for Writ of Certiorari ,
PSLRA ,
Rule 10b-5 ,
Scienter ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Fraud
On April 12, 2024, the U.S. Supreme Court unanimously held that, in the absence of an otherwise misleading statement, a failure to disclose information required by Item 303 of Regulation S-K (“Item 303”) does not support a...more
4/18/2024
/ Disclosure Requirements ,
Failure To Disclose ,
Financial Services Industry ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Omissions ,
Rule 10(b) ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Securities Violations
The Securities and Exchange Commission obtained a victory in a closely-watched trial when a jury found Matthew Panuwat liable for insider trading based on a “shadow trading” theory. The jury’s verdict, as well as increased...more
On September 29, 2023, the U.S. Supreme Court agreed to weigh in on the validity of a familiar allegation in private securities litigation—that a failure to disclose under Item 303 of Regulation S-K (“Item 303”) supports a...more
On July 31, 2023, Judge Jed Rakoff of the Southern District of New York (“SDNY”) sided with the Securities Exchange Commission in SEC v. Terraform Labs Pte. Ltd. by holding that sales of crypto assets to retail investors on...more
On July 13, 2023, a decision by Federal District Judge Analisa Torres of the Southern District of New York dealt a significant blow to the Securities and Exchange Commission’s enforcement efforts in the crypto space by...more
On February 16, 2021, the Securities and Exchange Commission (“SEC”) filed a civil complaint against Morningstar Credit Ratings LLC (“Morningstar”), a credit rating agency, alleging violations of the disclosure and internal...more
A recent decision out of the Southern District of Florida highlights the importance of businesses taking an expansive approach when considering whether to register as a broker dealer and the applicability of other...more
The global coronavirus pandemic has brought confusion and uncertainty to just about every aspect of life, but one thing remains constant: following a dramatic drop in stock price, an issuer’s public statements will be...more
A recent decision out of the Southern District of New York emphasizes the importance of considering all obligations under the federal securities laws for any transaction that might involve a “security.” Despite SEC statements...more