Peter Saparoff

Peter Saparoff

Mintz Levin

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Viability of Dutch Claims Foundations In Question

As we have previously noted, Dutch Foundations (or Stichtings) have been considered a useful tool in seeking recovery for losses on foreign securities. After the Morrison decision closed U.S. courts to claims for purchases of...more

1/19/2017 - Civil Code CJEU Foreign Securities Investors Jurisdiction Netherlands

Court in the BP p.l.c. Securities Litigation Upholds Opt-Out Procedures But Then Allows Individual Action Plaintiffs to Opt Back...

On November 4, 2016, Judge Keith Ellison of the United States District Court for the Southern District of Texas granted preliminary approval of a $175 million settlement in the federal securities class action In re: BP p.l.c....more

11/30/2016 - BP Class Action Investors Opt-Outs Securities Litigation Settlement

Court Dismisses Claims Alleging that Yahoo Is Illegally Acting as an Unregistered Investment Company

Recently, the United States District Court for the Northern District of California (the “Court”) dismissed claims against Yahoo, Inc., holding that a 16-year old exemption granted to Yahoo by the Securities and Exchange...more

11/8/2016 - Investment Advisers Act of 1940 Investment Companies SEC Yahoo!

Three Immigration Lawyers Sanctioned by the SEC for Brokering EB-5 Investments

The Securities and Exchange Commission (SEC) has just published three new decisions in connection with administrative proceedings against two well known immigration lawyers, as well as against a third lawyer. One party has...more

8/24/2016 - Civil Monetary Penalty EB-5 Enforcement Actions Finders Fees Immigration Attorneys Investment Funds Professional Liability Sanctions SEC Securities Exchange Act Securities Violations Transaction-Based Compensation

The Debate Intensifies on the Best Strategy to Recover Foreign Securities Losses

Recent doubts have been raised as to the effectiveness of Dutch Foundations, which have become an important vehicle in foreign recoveries. While Dutch Foundations have negotiated settlements in some situations, some foreign...more

12/15/2015 - Collective Actions Institutional Investors Netherlands Private Foundations Securities Litigation

EB-5 Due Diligence Matters

Private placement offerings are an increasingly active part of the securities business. One especially complicated and emerging area of private placements is the EB-5 Investor Visa Regional Center Program. Under the current...more

11/6/2015 - Broker-Dealer Disclosure Requirements Due Diligence EB-5 FINRA Foreign Investment Foreign Nationals Green Cards Inducement Investigations Investor Visa Options Lawful Permanent Residents Private Placements Reasonable Care Regional Centers Regulation D Regulation S Risk Mitigation Rule 506 SEC Securities Act of 1933 Underwriting USCIS

Five Advantages to Section 18 – A New Weapon for Institutions

Section 18 of the Securities Exchange Act, while seldom used in the past, has been increasingly used by institutional investors in suits against banks and other entities. The advantages of Section 18 are as follows...more

9/30/2015 - Banking Sector Institutional Investors Material Misstatements Negligence Publicly-Traded Companies Reasonable Reliance Claims Right to a Jury Scienter SEC Securities Exchange Act

Australia – A New Frontier for Plaintiffs?

With the increasing barriers to successfully prosecuting a securities fraud case in the United States, including the jurisdictional limitations caused by the Morrison decision, institutional investors are sometimes now...more

7/23/2015 - Attorney's Fees Australia Australian Stock Exchange Class Action Discovery Indemnification Institutional Investors Jurisdiction Legal Costs Litigation Funding Morrison v National Australia Bank Securities Fraud Testimony

The Top 10 Obstacles to Litigating Securities Fraud Claims: Part I

Introduction: Congress passed the Securities Act of 1933, 15 U.S.C. §§ 77a et seq. (Securities Act), and the Securities Exchange Act of 1934, 15 U.S.C. §§ 78a et seq. (Exchange Act, collectively, the Acts) following...more

12/10/2014 - Jurisdiction Litigation Strategies Material Misstatements Securities Act of 1933 Securities Exchange Act Securities Fraud Securities Litigation Statute of Limitations

Five Questions and Answers About the Second Circuit’s SEC v. Citigroup Decision

Last week we posted a summary of the Second Circuit’s decision in SEC v. Citigroup Global Markets, Inc. This week, as a follow-up, we pose the following five “yes or no” questions and provide responses as a way to further...more

6/11/2014 - Admissions of Liability Citigroup Judge Rakoff Neither Admit Nor Deny Settlements SEC SEC v Citigroup Settlement

Three Options for Institutional Investors Pursuing Claims Against Non-U.S. Issuers in the Wake of Morrison and City of Pontiac

In its 2010 Morrison decision, the Supreme Court decided that Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) (“Section 10(b)”),only reaches “transactions in securities listed on domestic exchanges”...more

5/22/2014 - City of Pontiac Fraud Morrison v National Australia Bank SCOTUS SEC Securities Exchange Act Securities Fraud

The Evisceration of the Federal Securities Law

I. Introduction - a. Legislative history of the Securities Act of 19331 (“Securities Act”) and the Securities Exchange Act of 19342 (“Exchange Act” and collectively, the “Acts”). ..i. Congress passed the Acts...more

2/13/2014 - Dodd-Frank Legal History PSLRA SEC Securities Act of 1933 Securities Exchange Act

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