News & Analysis as of

Civil Remedies Business Organization Securities

Read Civil Remedies updates, alerts, news, and legal analysis from leading lawyers and law firms:

Southern District Of New York Dismisses Securities Claims For Failure To Sufficiently Allege Misstatements And Scienter

by Shearman & Sterling LLP on

On June 13, 2017, Judge Vernon S. Broderick of the United States District Court for the Southern District of New York dismissed a putative securities class action against gold mining and exploration company Pretium Resources,...more

Bridging the Week - June 2017 #2

Diamonds May Be Forever, but US Supreme Court Rules SEC Ability to Seek Disgorgement Limited to Five Years: The United States Supreme Court ruled last week that the Securities and Exchange Commission may only commence...more

U.S. Supreme Court Rules That SEC Disgorgement Is Subject to a Five-Year Limit

The U.S Securities and Exchange Commission (SEC) has frequently used disgorgement as a tool to strip wrongdoers of ill-gotten gains. The aim of disgorgement is to return the wrongdoer to the position he or she was in before...more

Supreme Court Sharply Limits SEC’s Ability to Order Disgorgement, Ruling that Five-Year Statute of Limitations Applies

by Dentons on

For decades, the US Securities and Exchange Commission (SEC) has wielded a powerful weapon in its ability to obtain disgorgement orders to recoup any ill-gotten gains traceable to alleged securities violations. Although SEC...more

US Supreme Court: Disgorgement Is a Penalty, Limiting SEC’s Reach

by Latham & Watkins LLP on

Rejecting the Tenth Circuit Kokesh decision, the holding that the five-year limitations period applies to SEC disgorgement claims will dramatically affect enforcement actions. Key Points: ..The Supreme Court decision...more

Supreme Court Applies Five-Year Statute of Limitations to SEC Disgorgement Claims in Kokesh v. SEC

by Ropes & Gray LLP on

On June 5, 2017, after years of industry debate and litigation, the Supreme Court put to rest a billion dollar question: can the Securities and Exchange Commission (“SEC” or the “Commission”) seek disgorgement beyond the...more

United States Supreme Court Holds SEC Disgorgement Orders Subject to Five-Year Statute of Limitations

by Shearman & Sterling LLP on

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

The U.S. Supreme Court Puts S.E.C. Disgorgement Actions on the Clock

by Miller Canfield on

The U.S. Supreme Court continues to limit the timeframe in which the U.S. Securities and Exchange Commission (“S.E.C.”) can seek to levy monetary penalties in enforcement actions it brings against violators of the federal...more

Supreme Court limits SEC disgorgement: what next?

by DLA Piper on

The US Supreme Court has unanimously ruled in Kokesh v. SEC, that SEC disgorgement is a penalty and, therefore, subject to a five-year statute of limitations.  The decision upends long-held views that SEC disgorgement is an...more

Supreme Court Limits SEC Ability to Seek Disgorgement by Holding Five-Year Statute of Limitations Applies to Such Actions

by Bryan Cave on

A five-year statute of limitations applies to actions by the Securities and Exchange Commission for disgorgement, the U.S. Supreme Court ruled today. The decision imposes a significant new limit on the SEC’s ability to seek...more

Tesco to Pay Compensation of £85 m and Further Fine of £129 m for Market Abuse

by Jones Day on

On 28 March 2017, the FCA announced that Tesco plc and Tesco Stores Limited ("Tesco") had agreed to committing market abuse in relation to a trading update published on 29 August 2014. In that update, Tesco plc had stated...more

First Circuit Affirms Dismissal Of Putative Securities Class Action, Finding Public Disclosures Precluded Any Finding Of Intent To...

by Shearman & Sterling LLP on

On May 12, 2017, the United States Court of Appeals for the First Circuit affirmed the dismissal of a putative securities class action against biopharmaceutical company Biogen Inc. and three of its officers. In Re: Biogen...more

Delaware Chancery Court Dismisses Breach Of Fiduciary Duty And Quasi-Appraisal Claims Under Corwin

by Shearman & Sterling LLP on

On May 3, 2017, Vice Chancellor Joseph R. Slights of the Delaware Court of Chancery declined to dismiss a lawsuit brought by the buyer of EMSI Holding Company (“EMSI”) asserting post-closing claims for indemnification against...more

Equity Kickers and the Criminal Rate of Interest

by Bennett Jones LLP on

Entering into a loan transaction that also has an equity component, such as the issuance of shares or warrants, has previously given rise to some concern that the loan could ultimately run afoul of the 60 percent criminal...more

"Sections 204 and 205 of Delaware Corporation Law: Effective Tools to Remedy Defective Corporate Acts"

Since they became effective in 2014, Sections 204 and 205 of the Delaware General Corporation Law (DGCL) have provided mechanisms for a corporation to unilaterally ratify defective corporate acts or seek relief from the Court...more

"The Continuing Evolution of Corwin in Delaware Courts"

Recent Delaware Supreme Court and Court of Chancery cases have continued to refine the impact and requirements of Corwin v. KKR Financial Holdings LLC, in which the Delaware Supreme Court held that the business judgment rule...more

Appeal in Home Depot Data Breach Derivative Action Results in Settlement of Corporate Governance Claims

Snatching victory of a sort from the jaws of defeat, shareholders who brought a derivative action alleging that the 2014 Home Depot data breach resulted from officers’ and directors’ breaches of fiduciary duties have reached...more

Second Circuit Affirms Dismissal Of Shareholder Suit, Finding Subject Matter Jurisdiction Was Properly Exercised, Equity Dilution...

by Shearman & Sterling LLP on

On April 26, 2017, the United States Court of Appeals for the Second Circuit affirmed the dismissal of a lawsuit brought by a shareholder of Star Bulk Carriers Corp. (“Star Bulk”) against its directors and entities affiliated...more

In Affirming Dismissal Of Shareholder Suit, The Fifth Circuit Confirms The Bar For Adequately Pleading Scienter

by Shearman & Sterling LLP on

On April 21, 2017, the United States Court of Appeals for the Fifth Circuit affirmed the dismissal of a shareholder class action lawsuit against certain officers and directors of ATP Oil & Gas Corporation (“ATP”). Neiman et...more

Supreme Court Considers Time Limits On SEC Disgorgement Claims

by Dorsey & Whitney LLP on

Disgorgement, one of the SEC’s primary remedies, was the focus of intense debate during arguments before the Supreme Court in Kokesh v. SEC, No. 16-529 (S.Ct.) earlier this week. At issue was whether the remedy is subject to...more

Delaware Chancery Court Applies Corwin To Dismiss Post-Merger Fiduciary Duty Claim After Finding A Royalty Agreement Did Not...

by Shearman & Sterling LLP on

On April 13, 2017, Chancellor Andre G. Bouchard of the Delaware Court of Chancery dismissed a shareholder derivative suit alleging a breach of fiduciary duty against the directors of Paramount Gold and Silver Corp....more

Virgin Islands District Court Dismisses Securities Fraud Claims For Failure To Allege Falsity And Loss Causation

by Shearman & Sterling LLP on

On April 6, 2017, Judge Harvey Bartle III, sitting by designation in the United States District Court for the District of the Virgin Islands, dismissed a putative class action against Altisource Asset Management Corporation...more

Southern District Of Texas Dismisses Class Action Against Plains All American Pipeline, Dismissing Exchange And Securities Act...

by Shearman & Sterling LLP on

On March 29, 2017, Chief District Judge Lee Rosenthal of the United States District Court for the Southern District of Texas, Houston Division dismissed a putative class action against Plains All American Pipeline, a major...more

Southern District Of New York Dismisses Putative Class Action, Holding That Claims Are Precluded By SLUSA

by Shearman & Sterling LLP on

On April 1, 2017, District Judge John G. Koeltl of the United States District Court for the Southern District of New York dismissed a putative class action against brokerage firm E*TRADE Financial Corporation and E*TRADE...more

FCPA Compliance Report-Episode 320, John Hanson on the IAICM

by Thomas Fox on

In this episode I visit with John Hanson (AKA ‘the Fraud Guy’) who is also the founder of the International Association of Independent Corporate Monitors (IAICM). He discusses why he founded the group, the needs it hopes to...more

183 Results
|
View per page
Page: of 8
Cybersecurity

Follow Civil Remedies Updates on:

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.