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Fraud Securities Exchange Act Enforcement Actions

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
WilmerHale

Making the Connection - What Do Recent SEC Enforcement Actions Mean for Cyber Controls?

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On July 18, 2024, the U.S. District Court for the Southern District of New York dismissed most of the claims brought by the Securities and Exchange Commission (the “Commission”) against SolarWinds Corp. and its Chief...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: March 1, 2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Cornerstone Research

SEC Cryptocurrency Enforcement Report Summary

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Cryptocurrency enforcement continues to be a high priority for the U.S. Securities and Exchange Commission (SEC). In 2023, the SEC administration under Chair Gary Gensler brought a total of 46 cryptocurrency-related...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: January 1, 2024

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

Venable LLP

SEC v. Govil: Circuit Split Creates Uncertainty - and Opportunity - for Defendants in Enforcement Actions

Venable LLP on

In SEC v. Govil, No. 22-1658, 2023 WL 7137291 (2d Cir. Oct. 31, 2023), the United States Court of Appeals for the Second Circuit made clear that, in the Second Circuit, the disgorgement remedy available to the SEC pursuant to...more

BCLP

SEC Brings Landmark Cybersecurity Disclosure Lawsuit Against Solarwinds and Its CISO

BCLP on

On October 30, 2023, the SEC filed charges against SolarWinds Corp. and its chief information security officer (CISO), alleging: ..Failures to disclose known cybersecurity vulnerabilities affecting the company’s “crown...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - November 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Holland & Knight LLP

Good as Gold? Dual SEC/CFTC Trials Loom for Alleged Precious Metals Coin Fraud

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Digital assets are not the only coins drawing regulatory scrutiny these days. Earlier this year, the U.S. Securities and Exchange Commission (SEC) announced that it filed a complaint against California-based Red Rock Secured...more

Holland & Knight LLP

Heart to Heart: SEC and USAO File Parallel Feb. 14 Enforcement Actions

Holland & Knight LLP on

Enforcement was in the air this Valentine's Day for the New York and Forth Worth Regional offices of the SEC, who on Feb. 14, 2023, announced charges against Christopher S. Kirchner – the former CEO of supply chain logistics...more

Holland & Knight LLP

COVID-Related SEC Enforcement Actions Not a Thing of the Past

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The sun is shining, children are out of school, families are headed off on summer vacations, and the SEC is … bringing enforcement actions against companies for 2020 fraud related to COVID-19 products. One such action was...more

A&O Shearman

Northern District Of California Grants In Part Summary Judgment In Securities Fraud Action Against Electric Carmaker Over Twitter...

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On May 10, 2022, Judge Edward Chen of the United States District Court for the District of Northern California unsealed an April 1, 2022 order granting in part a motion for summary judgment in a securities class action...more

A&O Shearman

New York District Court Denies Motion To Dismiss Putative Securities Class Action Against Investment Company, Finding Plaintiffs...

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On May 4, 2022, Judge Victor Marrero of the United States District Court for the Southern District of New York denied a motion to dismiss a putative class action alleging, among other things, violations of Sections 10(b) and...more

Holland & Knight LLP

Avoiding Sticky Situations with Web3: DOJ, SEC Scrutiny of NFT and DeFi Projects Expected to Continue

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Web3 is a term with a shifting, amorphous definition. In its current form, Web3 encompasses both decentralized platforms and the metaverse. Decentralized platforms offer services and assets that use distributed ledger...more

WilmerHale

SEC Insider Trading Enforcement Highlights from 2021

WilmerHale on

The Securities and Exchange Commission’s (SEC or Commission) actions in 2021 demonstrate that insider trading remains a key enforcement priority. While the absolute number of insider trading enforcement actions brought by the...more

Wilson Sonsini Goodrich & Rosati

Ninth Circuit Cuts Shareholders More Slack on Section 11 Claims

In the past several years, the number of claims filed against newly public companies under the Securities Act of 1933 has increased significantly. At the same time, the development of direct listings has given companies...more

A&O Shearman

District of Utah Dismisses A Putative Class Action Alleging Market Manipulation In Connection With The Issuance Of A Digital...

A&O Shearman on

On September 28, 2020, Judge Dale A. Kimball of the United States District Court for the District of Utah granted a motion to dismiss a putative securities fraud class action asserting violations of Section 10(b) and 20(a) of...more

A&O Shearman

The Second Circuit Affirms The Dismissal Of A Putative Securities Fraud Class Action Against A Tax Services Provider In Connection...

A&O Shearman on

On September 30, 2020, the United States Court of Appeals for the Second Circuit affirmed the dismissal of a putative securities fraud class action asserting violations of Sections 10(b), 14(a), and 20(a) of the Securities...more

Skadden, Arps, Slate, Meagher & Flom LLP

Blockchain Trends and Enforcement Surrounding the New Technology

In 2019, regulators continued to consider whether and how to regulate blockchain technology. After the two previous years that included a high number of initial coin offerings (ICOs), many of which involved allegedly...more

Gray Reed

2019 Bad Guys in Energy

Gray Reed on

To our bad guys, 2019 was a year flush with hope and opportunity; it ended with recidivism, more misery from Venezuela, a charlatan, an Okie who pulled a multi-million dollar fast-one on Chesapeake and, as in years past, a...more

Holland & Hart - The Benefits Dial

[Don’t] Tell Me Lies, Tell Me Sweet Little Lies … or the SEC will charge you with fraud

Many private companies assume that if valid federal and state exemptions from registration are available for private company securities that there is little risk of problems with the Securities Exchange Commission (SEC). ...more

Jones Day

Commodity Exchange Act: Key Decisions from 2018 and Enforcement Trends to Monitor in 2019

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2018 was an interesting year for market participants subject to the Commodity Exchange Act ("CEA"), with federal appellate courts issuing three noteworthy decisions involving claims under the CEA. The Commodity Futures...more

Gray Reed

2016 – A Bad Year For Bad Guys in Energy

Gray Reed on

Let’s look back at a cavalcade of crooks, criminals and miscreants who met up with justice in 2016. We do it to be reminded of the others who will be lurking in the 2017 shadows....more

Skadden, Arps, Slate, Meagher & Flom LLP

"SEC Charges Private Equity Fund Adviser as an Unregistered Broker"

On June 1, 2016, the Securities and Exchange Commission (the "SEC") accepted a settlement offer from a registered investment adviser of private equity funds, and its founder, principal and managing member. The settlement...more

Dorsey & Whitney LLP

SEC Brings Two Financial Fraud Actions

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Financial fraud has long been a staple of SEC enforcement. In the wake of the market crisis the agency has attempted to once again focus on the area creating, for example, a financial fraud task force two years ago. Last...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The SEC prevailed on two summary judgment motions. One centered on a manipulation action. The other was against an attorney who facilitated a prime bank fraud. The Commission also filed: An action against UBS tied to its...more

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