Gray Reed has recently filed two significant amicus briefs challenging the Securities and Exchange Commission’s (SEC) controversial “regulation by enforcement” approach, particularly in emerging technology sectors....more
In January 2024, the SEC denied New Civil Liberties Alliance’s petition to halt so-called gag orders. The SEC has a procedural rule that requires it to impose these orders on individuals and companies settling with the SEC on...more
It might not have been successful, but query why Trump didn't argue Section 230 shields him from liability for reposts under Section 230? It is settled law that Section 230, which is often thought to only shield...more
Over the past year suspended Federal CIrcuit Judge Pauline Newman's lawsuit (see "Judge Newman and the On-Going Attempts to Remove Her from the Federal Circuit") against Chief Judge Kimberly Moore, and Circuit Judges Sharon...more
In a recent judgment, CIF v (1) DLG and (2) GIY (BVIHCM2023/0050) the BVI Commercial Court (the Hon. Justice Gerhard Wallbank) has provided guidance on the procedure which it expects to be followed by applicants seeking a...more
Norwich Pharmacal orders have long been a powerful tool employed in the BVI in aiding foreign proceedings. It is also quite a welcome development that the BVI Commercial Court has confirmed that a Norwich Pharmacal order is...more
Since 1972, the SEC has prohibited defendants who settle civil enforcement actions with the SEC without admitting or denying wrongdoing from later publicly “denying the allegations in the complaint” filed against them. The...more
The efforts to have Judge Pauline Newman, Circuit Judge on the Court of Appeals for the Federal Circuit, unfit or guilty of misconduct have been the subject of reporting in the patent blogosphere (Patently-O, IP Watchdog),...more
Congress just passed a law Wednesday that will prevent employers from forcing victims of sexual harassment and assault to remain quiet in response to alleged abuse, requiring some businesses to alter their business practices...more
This article supplements our article titled “Gag Orders: Stifling Effect on SEC Critics” in the September 2020 edition of this publication. Any consent judgment with the SEC includes what is often called a “gag clause.”...more
The Second Circuit today affirmed the legality of so-called “gag orders” in U.S. Securities and Exchange Commission (SEC) settlements: the rule that defendants settling with the commission cannot contradict the allegations...more
When is it a good idea to challenge a government request for information, especially gag orders? Our Privacy, Cyber & Data Strategy Team summarizes the statutory, constitutional, and policy rules governing gag orders and...more
The Times digs into what it’s calling private equity’s “conquer[ing of] the American tax system”—where “slight-of-hand tax-avoidance strategies” are so “aggressive” and pervasive that “at least three private equity officials...more
Father adopted a child with mother. Mother died two year later. Father remarried the stepmother in 2012, with whom this litigation took place. Stepmother adopted the child a year later. The marriage lasted less than a...more
Any consent judgment with the SEC includes what is often called a “gag clause.” These clauses prohibit the defendant from challenging the truth of any allegation in the SEC’s complaint or making any statement that might be...more
In the era of #MeToo, the gag order (legally speaking, non-disclosures or confidentiality clauses) has come under attack as a tool that silences victims and is responsible for compounding the damage to victims by keeping them...more
On Tuesday, a U.S. federal tax court began hearing arguments regarding Facebook’s 2010 tax bill. The IRS valued Facebook at $13.8 billion, while Facebook reported only $6.5 billion. The final tally could potentially cost...more
Oil jumped for a second straight day, with futures near $70/barrel as fallout from the U.S.’s drone-strike assassination of Iran’s Qassem Soleimani continues to raise “the prospect of disruptions in the world’s most important...more
A licensed teacher was investigated, but the case was closed without disciplinary action taken. The teacher was warned that the existence of the investigation and its outcome were to remain strictly confidential. The teacher...more
Two weeks ago, a federal court of appeals sided with the Commodity Futures Trading Commission ruling that a district court could not require the testimony of three commissioners and various staff to assess whether the agency...more
A broker-dealer and its chief executive officer settled charges brought in 2017 by the Securities and Exchange Commission that the firm facilitated manipulative conduct by a customer, despite being alerted by regulators and...more
Both the Commodity Futures Trading Commission and the Chicago Board of Trade settled related disciplinary actions for speculative position limits violations. The CFTC sanctioned the trading firm while the CBOT sanctioned the...more
The Commodity Futures Trading Commission received a short delay of the hearing date to determine if it should be subject to a contempt determination, sanctions and other relief for publishing a press release, a formal...more
The New Civil Liberties Alliance has filed a Motion for Relief from Judgment with the U.S. District Court for the Southern District of New York on behalf of Barry D. Romeril. Mr. Romeril served as the Chief Financial Officer...more
A well-renowned think tank sued the Securities and Exchange Commission claiming that the SEC’s prohibition against respondents contesting allegations in enforcement settlements violates the freedom of speech guarantee under...more