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Securities Fraud Investors Securities Violations

A&O Shearman

Second Circuit Affirms District Court’s Dismissal Of Putative Securities Fraud Class Action Against China-Based Real Estate...

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On June 10, 2024, the United States Court of Appeals for the Second Circuit affirmed the dismissal of a putative shareholders’ class action against a real estate company (the “Company”) and several of its directors (the...more

Allen Matkins

Department Of Financial Protection & Innovation Warns Investors About Nonexistent Class Action Settlement

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Yesterday, the California Department of Financial Protection & Innovation warned investors that an "entity calling itself “Hartman Cain & Associates,” which represents itself as a law firm based in California, and operates...more

Patterson Belknap Webb & Tyler LLP

Increase in Securities Litigation and Regulatory Scrutiny Concerning Artificial Intelligence

Several recent lawsuits, and comments by the U.S. Securities and Exchange Commission (“SEC”) and Federal Trade Commission (“FTC”), underscore the increasing litigation and regulatory scrutiny concerning the use of artificial...more

Kohn, Kohn & Colapinto LLP

Roundup of SEC Whistleblower Office’s January Notices of Covered Actions

On January 31, the U.S. Securities and Exchange Commission (SEC) Office of the Whistleblower posted six new Notices of Covered Actions (NoCAs). These NoCAs signal that the SEC is now accepting whistleblower award claims for...more

Orrick, Herrington & Sutcliffe LLP

Investor Relations and Generative AI: The Risks and How to Manage Them

Generative AI is finding its way into almost every corner of corporate operations – and investor relations is no exception. Disney’s CEO Bob Iger has quipped that he looks forward to a time when AI does earnings calls for...more

Katten Muchin Rosenman LLP

SEC Complaint Signals Aggressive Approach to Information Barriers Enforcement

On September 12, the Securities and Exchange Commission (SEC) filed a complaint in the Southern District of New York (SDNY) charging a large proprietary trading firm with making materially false and misleading statements and...more

A&O Shearman

Fifth Circuit Securities Litigation Quarterly Q1 2023

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Shearman & Sterling is pleased to announce our the publication of our Fifth Circuit Securities Litigation Quarterly. Given the many public companies and financial institutions that are moving to Texas, our Texas-based...more

McGuireWoods LLP

Notable Litigation – March 2023

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Notable litigation filed during March 2023 includes: (1) SEC v. Woodard; (2) SEC v. Kaplan; (3) James Bay Resources Limited, et al. v. Lockett & Horwitz, et al.; (4) Miklos v. McNamara, et al.; and (5) Scura, et al. v....more

Fenwick & West LLP

Pump-and-Dumpers Take Their Lumps: Influencer Liability Catches the Eye of Federal Regulators

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Influencers and their large and impressionable followings have become a valuable marketing tool for brands big and small. However, brands and influencers alike should proceed with caution as regulators continue to scrutinize...more

A&O Shearman

Eleventh Circuit Affirms Dismissal Of Putative Class Action Against Medical Technology Company For Failure To Adequately Allege...

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On August 1, 2022, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of a putative securities class action asserting claims under the Securities Act of 1933 against a medical technology...more

Goodwin

SEC Proposes Rule Amendments Requiring Climate — Related Disclosures

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SEC Proposes Rule Amendments Requiring Climate-Related Disclosures; Southern District of New York Dismisses Securities Fraud Claims Against U.S. Stock Exchanges for Lack of Standing; Southern District of New York Dismisses...more

Goodwin

Northern District of Illinois Grants Motion for Partial Reconsideration of Summary Judgment Decision Regarding Whether Former...

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Northern District of Illinois Grants Motion for Partial Reconsideration of Summary Judgment Decision Regarding Whether Former Walgreens CFO’s Statements Were Actionable; Securities Fraud Claims Against Chicken Producer for...more

Goodwin

Second Circuit Affirms Dismissal of Securities Fraud Class Action Against Alkermes

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Second Circuit Affirms Dismissal of Securities Fraud Class Action Against Alkermes; Delaware Court of Chancery Allows SPAC Litigation to Proceed; Ex-Theranos CEO Elizabeth Holmes Convicted on Four Counts of Fraud; Second...more

Allen Matkins

Could The SEC Have Made A Weaker Case For Mandating Enhanced Repurchase Disclosures?

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Earlier this month, the Securities and Exchange Commission proposed rule amendments that would require an issuer, including a foreign private issuer and certain registered closed-end funds, to report any purchase made by or...more

Goodwin

Delaware Court of Chancery Declines to Dismiss Investment Firm from Stockholder Derivative Suit

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Delaware Court of Chancery Declines to Dismiss Investment Firm from Stockholder Derivative Suit; Delaware Chancery Court Dismisses Majority of Claims Alleging that California Biotech Firm Profited from Nonpublic Information...more

Wilson Sonsini Goodrich & Rosati

SEC Proposes Additional Disclosure for Share Repurchases and New Form SR

On December 15, 2021, the U.S. Securities and Exchange Commission (SEC) proposed rules governing issuers' equity share repurchases. Proposed Rule 13a-21 would require more detailed and significantly more frequent disclosure...more

Wilson Sonsini Goodrich & Rosati

SEC Proposes Amendments to Rule 10b5-1 and New Insider Trading Disclosure

On December 15, 2021, the U.S. Securities and Exchange Commission (SEC) proposed amendments to Rule 10b5-1 under the Securities Exchange Act of 1934 (Exchange Act) to introduce new requirements for Rule 10b5-1 trading plans...more

Goodwin

Ninth Circuit Holds that Purchasers of Unregistered Shares in Slack’s Direct Listing May Bring Securities Act Claims

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Ninth Circuit Holds that Purchasers of Unregistered Shares in Slack’s Direct Listing May Bring Securities Act Claims; Small Class of Crypto Purchasers Recommended for Certification; Tether to Pay $41 Million to Settle...more

Goodwin

Delaware Court of Chancery Finds that Director’s Email on Outside Email System Remains Confidential

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Delaware Court of Chancery Finds that Director’s Email on Outside Email System Remains Confidential; Delaware Supreme Court Overrules Longstanding Precedent Regarding Derivative Versus Direct Standing; SEC Files Crowdfunding...more

Goodwin

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action

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SEC Settles First-Of-Its-Kind $13m DeFi Tech Action; NASDAQ Board Diversity Rules Challenged in Fifth Circuit; Delaware Court of Chancery Declines to Enforce Contractual Limitations on Liability to Bar Contractual Fraud...more

Goodwin

Northern District of California Kicks Shareholder Derivative Suit Against Alphabet, Inc. for Failing to Allege Demand Futility

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Northern District of California Kicks Shareholder Derivative Suit Against Alphabet, Inc. For Failing to Allege Demand Futility; Rare Securities “Holder’s Claim” Trial Results in Jury Verdict for Defendants; Delaware Court of...more

Goodwin

SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence

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SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence; Stockholders Strike $110 Million Settlement In Suit Alleging Breaches Of Fiduciary Duties By Former...more

McGuireWoods LLP

New Complaint – SEC v. The Estate of Kenneth J. Casey

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SEC v. The Estate of Kenneth J. Casey is a case filed by the SEC in the United States District Court for the Northern District of California on June 2, 2021, claiming that Kenneth Casey (“Casey”), the founder of Professional...more

Goodwin

Federal Reserve Hints at Government-Backed Cryptocurrency

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Federal Reserve Hints at Government-Backed Cryptocurrency; Third Circuit Affirms Dismissal of Securities Fraud Class Action Against Shutterfly Inc. Regarding Allegedly Misleading Financial Projections; Ninth Circuit Holds...more

Oberheiden P.C.

SEC Subpoena - 6 Things You Must Do To Protect Your Company

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The Securities and Exchange Commission is a formidable federal agency charged with the authority to investigate various instances of securities fraud and misconduct by entities, executives, and investors in order to protect...more

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