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Cryptocurrency Securities Securities Fraud

Cornerstone Research

Securities Class Action Filings: 2024 Midyear Assessment

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The number of securities class action filings increased in the first half of 2024 relative to the second half of 2023, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class...more

A&O Shearman

SEC Achieves Jury Verdict In Cryptocurrency Fraud Case

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On April 5, 2024, a jury in the Southern District of New York found cryptocurrency startup Terraform Labs PTE Ltd. (the “Company”) and its co-founder, Do Kwon, liable for securities fraud. The jury sided with the SEC in...more

Dechert LLP

Securities and Derivative Litigation: Quarterly Update - February 2024

Dechert LLP on

As we close out 2023 and begin the first quarter of 2024, securities and derivative litigation continues to evolve. In this quarterly update, we examine trends in federal securities class action filings, which saw an uptick...more

A&O Shearman

SEC Sues Company For Unregistered Offerings Of NFTs

A&O Shearman on

On September 13, 2023, the U.S. Securities and Exchange Commission brought a settled enforcement action against Stoner Cats 2 LLC for raising approximately $8 million through an unregistered offering of Non-Fungible Tokens...more

A&O Shearman

Southern District Of New York Dismisses Claims Against Cryptocurrency Platform Seeking To Hold It Liable Under The Securities Laws...

A&O Shearman on

On August 29, 2023, Judge Katherine Polk Failla of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action against a decentralized cryptocurrency trading...more

Dechert LLP

Securities and Derivative Litigation: Quarterly Update - May 2023

Dechert LLP on

In this edition of Dechert’s Securities & Derivative Litigation Quarterly Update, we: Examine the first criminal insider trading prosecution based on a 10b5-1 trading plan;...more

Dechert LLP

Securities and Derivative Litigation: Quarter 4 Update

Dechert LLP on

In 2022, there were 197 federal securities class actions filed, which is a 6.6% drop from the 211 filings in 2021, and a significant drop from the over 400 filings in 2017, 2018, and 2019, and over 300 in 2020. Despite a...more

Goodwin

Twitter Brings Suit Against Musk in Delaware Court of Chancery Seeking Specific Performance

Goodwin on

On July 12, 2022, Twitter, Inc. brought a civil action in the Delaware Court of Chancery against Elon Musk, the co-founder and CEO of Tesla Motors, Inc., for breach of contract in an attempt to force Musk to complete his...more

Allen Matkins

Looking For Cryptocurrency In All The Wrong Places . . .

Allen Matkins on

Last Friday, the Department of Financial Protection & Innovation issued a warning about "romance scams and cryptocurrency".  This warning is similar to one issued this month by the North American Securities Administrators...more

Bradley Arant Boult Cummings LLP

Q&A with the Mississippi Securities Division: From Ponzi Schemes to Cryptocurrency

State securities regulators saw a busy 2021, and 2022 looks to continue in much the same fashion. Some of the more active topics for regulators have included protecting senior investors, stopping fraudulent investment schemes...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2019

In this issue, we examine the release of the much-anticipated Strategic Hub for Innovation and Financial Technology (FinHub) guidance for analyzing how U.S. federal securities laws apply to initial coin offerings, the...more

A&O Shearman

Significant Judicial And Enforcement Developments In The Cryptocurrency Space

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This past week saw important developments in the cryptocurrency space with two new regulatory actions, and a significant and much-anticipated decision in a criminal securities fraud action relating to an initial coin...more

Dechert LLP

SEC Chairman Issues Major Statement on Cryptocurrency and ICOs

Dechert LLP on

On December 11, 2017, SEC Chairman Clayton issued an important public statement outlining his views on cryptocurrencies and ICOs. In his statement, Chairman Clayton provided a clearer view of the SEC’s stance and offered the...more

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