News & Analysis as of September 18, 2024

Breach of Duty

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

Top 5 SEC Enforcement Developments for April 2024

Morrison & Foerster LLP on 5/21/2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s first “Shadow Trading” trial; •SCOTUS’s...more

Takeaways for In-House Counsel from the SEC’s “Shadow Insider Trading” Trial

Morrison & Foerster LLP on 4/17/2024

On April 5, 2024, a jury in California federal court found a former corporate executive liable for insider trading in SEC v. Panuwat, a novel enforcement action involving a theory known as “shadow trading.” In Panuwat, the...more

Inside the Courts – An Update From Skadden Securities Litigators - September 2022

Skadden, Arps, Slate, Meagher & Flom LLP on 9/12/2022

Derivative Litigation Eighth Circuit Affirms Dismissal of Derivative Securities Action - Carpenters’ Pension Fund of Ill. v. Neidorff, No. 20-3216 (8th Cir. 2022) - Following Centene Corporation’s merger with Health Net,...more

Takeaways for In-House Counsel from the SEC’s “Shadow Insider Trading” Action

Morrison & Foerster LLP on 3/7/2022

In January 2022, a federal district court denied a motion to dismiss a novel insider trading enforcement action brought by the U.S. Securities and Exchange Commission based upon a theory known as “shadow insider trading.”...more

District Of Delaware Dismisses Suit Against Wireless Technology Company For Failure To Plead Actionable Misstatement

A&O Shearman on 11/26/2021

On November 15, 2021, Judge Richard G. Andrews of the United States District Court for the District of Delaware dismissed a derivative suit against a company that provides hardware, software, and services for wireless...more

Shareholder Derivative Litigation Concerning Diversity in Corporate Leadership Is an Emerging Trend

Jones Day on 9/17/2020

The Situation: A number of shareholder derivative lawsuits in federal court have been filed seeking to hold directors and officers of major companies accountable for alleged failures to uphold their commitment to diversity....more

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