In what is believed to be the first criminal case examining whether so-called “initial coin offerings” (ICOs) are securities under U.S. law, on September 11, 2018, Judge Raymond J. Dearie of the U.S. District Court for the...more
In a 5-4 decision in California Public Employees’ Retirement System (CalPERS) v. ANZ Securities, Inc., et al. (No. 16-373), 582 U.S. ___ (2017), the U.S. Supreme Court upheld, at the end of last month, a U.S. Court of Appeals...more
7/11/2017
/ CalPERS v ANZ Securities ,
Class Action ,
Equitable Tolling ,
Opt-Outs ,
Pension Funds ,
Public Offerings ,
SCOTUS ,
Section 11 ,
Section 13 ,
Securities Act ,
Securities Act of 1933 ,
Securities Fraud ,
Securities Litigation ,
Statute of Limitations ,
Statute of Repose ,
Underwriting
In Somers v. Digital Realty, the Ninth Circuit joins the Second Circuit in holding that whistleblower protections apply to individuals who report securities violations internally, not just to those who report to the...more
In a recent speech, SEC Enforcement Director Andrew Ceresney confirmed the SEC’s continued pursuit of investigations and enforcement actions relating to issuer reporting and disclosure, an area that remains a high priority...more
10/3/2016
/ Audits ,
Corporate Issuers ,
Disclosure Requirements ,
Disgorgement ,
Enforcement Actions ,
Ernst & Young ,
Financial Reporting ,
ICFR ,
Internal Controls ,
PCAOB ,
Reporting Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblowers
On Monday the Supreme Court issued its much anticipated decision in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317, 2014 WL 2807181 (U.S. June 23, 2014), rejecting all pleas to overturn the fraud-on-the-market...more
Recently, the U.S. Supreme Court limited the scope of the preemption of state law class actions afforded by the Securities Litigation Uniform Standards Act of 1998 (SLUSA) in Chadbourne & Parke LLP v. Troice, No. 12-79 (U.S....more
In its long-awaited decision in Amgen Inc. v. Connecticut Retirement Plans & Trust Funds, No. 11-1085 (U.S. Feb. 27, 2013), the U.S. Supreme Court held that plaintiffs in a securities-fraud class action do not need to...more
Earlier today, in a case titled Sell v. Sewell, et al. (No. CV-12-0211-PR), the Arizona Supreme Court ruled that there is no implied private right of action for aiding and abetting securities fraud under the Arizona...more