News & Analysis as of

Enforcement Securities Securities and Exchange Commission (SEC)

K&L Gates LLP

Shedding Light on "Shadow Trading" and What Companies Should Do Now

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The concept of insider trading under the federal securities laws has evolved over the years, at times in unexpected ways. Current insider trading standards have developed through case law and administrative actions applying...more

Goodwin

SEC Speaks Conference 2024

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The SEC (U.S. Securities and Exchange Commission) recently hosted the 2024 SEC Speaks conference in Washington, DC. During the event, SEC leaders, including the Chair, commissioners, and senior staffers, shared their views...more

Jones & Keller, P.C.

Crypto and Securities Law: Lessons from SEC v. Coinbase

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...A recent decision in an SEC enforcement action against Coinbase, the largest crypto-asset trading platform in the U.S., provides some long-awaited guidance on a topic that has been the subject of considerable debate in the...more

Proskauer - Regulatory & Compliance

SEC Sued Over New Short Sales and Securities Lending Disclosure Rules: Second Lawsuit Filed This Year in 5th Circuit Challenging...

The SEC has been sued again in the U.S. Court of Appeals for the Fifth Circuit, on the heels of that Court’s recent invalidation of the SEC’s newly-minted corporate buy-back rules. The new legal action asks the Court to...more

Allen Matkins

How Long Is Six Months?

Allen Matkins on

Statutory time periods can be ambiguous.  For example, what does "six months" mean when one month has 28 or 29 days, other months have 30 days and still others have 31 days....more

Holland & Knight LLP

Enforcement Imperialism or Applying Precedent? SEC’s NFT Enforcement Actions Reignite Digital Asset Debate

Holland & Knight LLP on

Overreach. Jurisdictional landgrab. Regulation by enforcement. These terms and expressions — and many more “colorful” turns of phrase — are used by some to describe the Securities and Exchange Commission’s approach to...more

ArentFox Schiff

NFT Cat Fight: SEC Offensive Against NFTs Continues with Stoner Cats 2, LLC

ArentFox Schiff on

This public offering purportedly raised approximately $8.2 million from investors to finance Stoner Cats, an adult animated television show featuring house cats that gain sentience after exposure to their owner’s medical...more

Proskauer - The Capital Commitment

Second Circuit Holds That the Syndicated Term Loans in Kirschner Are Not Securities

On August 24, 2023, the Second Circuit Court of Appeals issued its much-anticipated decision in Kirschner v. JP Morgan Chase Bank, holding that the syndicate term loans at issue were not securities. As noted in our earlier...more

Proskauer - Corporate Defense and Disputes

Second Circuit Clarifies Nature of Actionable Opinions Under Securities Laws

The U.S. Court of Appeals for the Second Circuit held that a statement of opinion that reflects some subjective judgment can nevertheless be actionable under the securities laws if it misleads investors into thinking that the...more

A&O Shearman

In Denying Motion To Dismiss In Terraform Cryptocurrency Case, New York Federal Judge Rejects Key Aspects Of Ripple  Ruling,...

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On July 31, 2023, United States District Court Judge for the Southern District of New York Judge Rakoff, denied cryptocurrency company Terraform Labs, Pte Ltd. (“Company”) and its founder’s motion to dismiss a suit that had...more

DarrowEverett LLP

Should Influencers Be Held Liable for the Promotion of Digital Assets?

DarrowEverett LLP on

The world’s ever-changing technological landscape has led to the formation of new mediums of creativity — mediums that the sports and entertainment industry cannot ignore. Digital currencies, virtual universes, and enhanced...more

Dechert LLP

Securities and Derivative Litigation: Quarterly Update - May 2023

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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

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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

Pillsbury Winthrop Shaw Pittman LLP

SEC Enforcement: 2022 Year in Review

On the heels of record-breaking enforcement in 2022, expect continued aggressive pursuit of Chair Gensler’s priorities in 2023. The SEC will continue to bring its considerable resources to bear to address ESG-related...more

Skadden, Arps, Slate, Meagher & Flom LLP

Rise in Crypto Securities Filings Could Persist

Increased regulatory oversight and recent turmoil in the digital asset market have led to a rising number of securities litigations focusing on cryptocurrencies. Sixteen cryptocurrency-related class actions have been filed...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: March 1, 2022

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Holland & Knight LLP

Exponential Growth in SEC Whistleblower Program: A Sign of Things to Come for FY 2022

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"Record breaking" is how the U.S. Securities and Exchange Commission (SEC) described its whistleblower program results in FY 2021, and it's not hard to see why. The agency continued to receive tips from all corners of the...more

WilmerHale

COVID-19: The Virus Creates New Regulatory Priorities and Litigation Risks for Public Companies and Market Participants

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COVID-19 has had an unprecedented effect on the securities and derivatives markets. Public companies and market participants face significant operational challenges and unpredictability, including evolving and novel...more

Foley & Lardner LLP

A Compilation of Enforcement and Non-Enforcement Actions

Foley & Lardner LLP on

SEC Looks to Step Up Oversight of the Fund Industry - At a recent conference, Mary Jo White, SEC chairman, announced that the SEC will look to increase its scrutiny of the mutual fund asset management segment to ensure...more

Dorsey & Whitney LLP

This Week In Securities Litigation

Dorsey & Whitney LLP on

The Commission brought a series of administrative proceedings this week and one civil injunctive action. The civil injunctive action was an insider trading case. The administrative proceedings centered on FCPA violations, the...more

BakerHostetler

2014 Mid-Year Report Securities Litigation and Regulatory Enforcement

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Welcome to the 2014 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. Its purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more

Orrick - Finance 20/20

SEC Sends Wells Notice to S&P Concerning MBS Ratings

Orrick - Finance 20/20 on

On July 23, S&P’s parent company, McGraw Hill Financial Inc., disclosed that it received a Wells notice indicating that the SEC’s enforcement staff had made a preliminary determination to recommend that the SEC institute an...more

Dorsey & Whitney LLP

SEC Continues to Focus on Microcap Fraud

Dorsey & Whitney LLP on

Microcap fraud is a continuing enforcement priority for the SEC. Last week, for example, the Commission brought an action centered on what would have been a pump and dump scheme but for the fact that the shell company was...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Week ending June 27, 2014)

Dorsey & Whitney LLP on

The Supreme Court handed down its much anticipated decision in Halliburton. While the Court declined to overrule Basic and its presumption of reliance based on the fraud-on-the-market theory, it did alter existing practice....more

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