Yesterday the United States Supreme Court heard oral argument in a case raising questions of when investors have standing to sue under Sections 11 and 12(a)(2) of the Securities Act of 1933 (the “Securities Act”). Slack...more
On October 28, 2021, at the American Bar Association’s National Institute on White Collar Crime, Deputy Attorney General Lisa O. Monaco announced revisions to the Department of Justice’s policies, all designed to strengthen...more
In connection with the continued efforts of New York State to grapple with the COVID-19 pandemic, a recent order updated the emergency measures in place impacting pending and potential litigation in New York and possibly...more
In connection with the continued efforts of New York State to grapple with the COVID-19 pandemic, a recent order updated the emergency measures in place impacting pending and potential litigation in New York and possibly...more
In connection with the continued efforts of New York State to grapple with the COVID-19 pandemic, a recent order updated the emergency measures in place impacting pending and potential litigation in New York and possibly...more
In connection with the continued efforts of New York State to grapple with the COVID-19 pandemic, recent orders have updated the emergency measures in place impacting pending and potential litigation in New York and possibly...more
In connection with the continued efforts of New York State to grapple with the COVID 19 pandemic, recent orders have updated the emergency measures in place impacting pending and potential litigation in New York and possibly...more
In connection with the continued efforts of New York State and City to grapple with the COVID-19 pandemic, two recent orders have updated the emergency measures in place that impact pending and potential litigation in New...more
On April 30, 2020, the Chief Administrative Judge of the New York State Courts issued a Memorandum lifting some of the prior restrictions put in place concerning court filings and other activities in New York State trial...more
As New York State and City continue to grapple with the COVID-19 pandemic, affecting all aspects of life and work including the legal system, two orders issued over the weekend have significantly increased the effect on...more
Today, the Supreme Court of Delaware reversed a decision of the Delaware Court of Chancery and affirmatively endorsed the enforceability of federal forum-selection provisions, in a Delaware corporation’s certificate of...more
On July 3, 2019, Chairman Jay Clayton of the Securities and Exchange Commission (SEC) issued a Statement Regarding Offers of Settlement (the “Public Statement”) to announce a significant shift in the SEC’s process of...more
8/8/2019
/ Bad Actors ,
Cease and Desist Orders ,
Enforcement Actions ,
Financial Institutions ,
Investment Company Act of 1940 ,
Proposed Legislation ,
Public Statements ,
Rulemaking Process ,
SEC Commissioner ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Settlement Negotiations
On Monday, June 19, 2017, the Supreme Court clarified the limits of specific personal jurisdiction in state courts, holding that a connection between a defendant’s contacts with the forum and the claims at issue remains...more
On Monday, June 5, 2017, a unanimous Supreme Court held that the ability of the Securities and Exchange Commission (“SEC”) to seek disgorgement in connection with a violation of federal securities law is subject to a...more
On March 27, 2017, the United States Supreme Court granted a petition for a writ of certiorari to resolve a circuit split on whether corporate issuers’ disclosure obligation under Item 303 of SEC Regulation S-K can be an...more
Last week, Magistrate Judge Andrew Peck of the United States District Court for the Southern District of New York issued a stern rebuke to counsel in Fischer v. Forrest for what he viewed as a failure to adhere to the...more
Yesterday, the United States Supreme Court issued a unanimous, but narrow, ruling in Salman v. United States, regarding criminal tipper/tippee liability for insider trading, which the Supreme Court had not significantly...more
In so-called “price maintenance” securities fraud cases, plaintiffs argue that a misrepresentation that does not cause a stock’s price to rise can nevertheless be actionable under Section 10(b) of the Securities Exchange of...more
The Securities and Exchange Commission (the SEC or the Commission) brought over 400 enforcement actions in the first half of 2016 and is on pace to surpass its record of 807 enforcements actions in a single fiscal year, which...more
7/20/2016
/ Administrative Proceedings ,
Books & Records ,
Broker-Dealer ,
Chief Compliance Officers ,
Cooperation ,
Corporate Counsel ,
Cybersecurity ,
Disgorgement ,
Enforcement Actions ,
Enforcement Statistics ,
Foreign Corrupt Practices Act (FCPA) ,
Insider Trading ,
Investment Adviser ,
Municipal Bonds ,
Securities and Exchange Commission (SEC) ,
Whistleblowers
The tolling rule established by the Supreme Court in American Pipe & Construction Co. v. Utah generally provides that the commencement of a class action in federal court suspends the applicable statute of limitations for all...more
On July 14, 2016, the Second Circuit released its decision in Microsoft Corp. v. United States, No. 14-2985, slip op. (2d Cir. July 14, 2016). The Second Circuit rejected the Government’s efforts to require Microsoft to turn...more
7/20/2016
/ Data Centers ,
ECPA ,
Electronic Communications ,
Electronically Stored Information ,
EU-US Privacy Shield ,
International Data Transfers ,
Ireland ,
Microsoft ,
Popular ,
Public Policy ,
Search Warrant ,
Stored Communications Act ,
US-EU Safe Harbor Framework
For purposes of assessing the existence of federal subject matter jurisdiction based on diversity of citizenship, national banking associations—i.e., corporate entities chartered not by any State, but by the Office of the...more
Vice Chancellor Laster of the Delaware Chancery Court recently issued an important opinion in In Re: Appraisal of Dell Inc.C.A. No. 9322-VCL (May 31, 2016), holding that merger consideration offered to Dell, Inc’s common...more
The Financial Institutions Reform, Recovery, and Enforcement Act (“FIRREA”) includes a so-called Extender Statute prescribing the limitations period for actions brought by the Federal Deposit Insurance Corporation (“FDIC”) as...more
In its recently issued decision in Husky International Electronics, Inc. v. Ritz, a 7-1 majority of the Supreme Court has clarified that intentionally fraudulent transfers designed to hinder or defraud creditors can fall...more