Securities Law, Constitutional Law

New York State Court Dismisses RMBS Putback Action Against Nomura As Time-Barred

by Orrick - Structured Finance Group on 5/20/2013

On May 10, Justice Sherwood of the Supreme Court of the State of New York dismissed on statute of limitations grounds an RMBS putback action brought against Nomura Credit & Capital, Inc. (Nomura)....more

Second Circuit Agrees To Hear Interlocutory Appeal Of Key MBS Litigation Questions

by BuckleySandler LLP on 5/17/2013

On May 7, the U.S. Court of Appeals for the Second Circuit granted two petitions seeking interlocutory appeal of key questions related to pending mortgage backed securities (MBS) cases....more

Supreme Court To Decide If It Will Decide Whether Section 16 Plaintiff Has Constitutional Standing

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/15/2013

No Harm, No Foul - The late Lakers broadcaster Chick Hearn was known for coining or popularizing numerous basketball expressions, including “air ball” and ”no harm, no foul”. Now, the U.S. Supreme Court may soon...more

California Requires Many Foreign Corporations To Send Annual Financial Statements To Shareholders

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/13/2013

California is a net exporter of corporate charters, but it remains home to many corporations. As a result, the California Corporations Code has a preternatural concern with foreign corporations. ...more

S&C's Cohen: Brown-Vitter Punishes Banks For Being Big [Video]

by Bloomberg Law on 5/3/2013

May 3 (Bloomberg Law) -- Rodge Cohen, partner at Sullivan & Cromwell who represents the nation's largest banks, talks with Bloomberg Law's Lee Pacchia about the concept of Too Big To Fail and a recent proposal from Senators...more

Cohen: Cyprus Is Not A Template For Future Restructurings [Video]

by Bloomberg Law on 5/3/2013

May 3 (Bloomberg Law) -- Rodge Cohen, partner at Sullivan & Cromwell, tells Bloomberg Law's Lee Pacchia why the recent bailout of Cyprus's banking sector was a unique situation and not necessarily a template for dealing with...more

The PUHCA, Chenery & The Run For The Roses

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/2/2013

Earlier this week, I mentioned the former Public Utility Holding Company Act (aka PUHCA). Although it was repealed several years ago, the PUHCA remains important as the legal substrate upon which the famous, and still...more

Why Incorporation May Be Unconstitutional

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 4/29/2013

Section 25018 of the California Corporations Code provides a definition of several of the better known federal securities laws...more

Using the Privilege: Fifth Amendment Fundamentals for Corporations

by Jonathan Cavalier, Hayes Hunt | Cozen O'Connor on 4/24/2013

Most in-house lawyers, if they're fortunate, haven't bumped up against the Fifth Amendment and its related issues since the bar exam. After all, the so-called "nickel" typically arises solely in the criminal context, and...more

Second Circuit Affirms Denial of UBS’s Motion to Dismiss FHFA Complaint

by Orrick - Structured Finance Group on 4/18/2013

On April 5, the United States Court of Appeals for the Second Circuit affirmed the decision of the district court denying UBS’s motion to dismiss the complaint brought by the FHFA. FHFA sued UBS as conservator of Fannie Mae...more

SEC Files Initial Brief in Conflict Minerals Rule Case

by Edward Sarnowski | Holland & Knight LLP on 4/16/2013

The SEC recently filed its initial brief in the case pending in the United States Court of Appeals for the D.C. Circuit in which the National Association of Manufacturers, United States Chamber of Commerce, and Business...more

Konczal: Dodd-Frank Reforms Get Roughed Up in Court [Video]

by Bloomberg Law on 4/11/2013

April 11 (Bloomberg Law) -- Mike Konczal, fellow at the Roosevelt Institute and contributor to Bloomberg View, talks with Bloomberg Law's Lee Pacchia about how the implementation of the financial reform laws in Dodd-Frank...more

Purchase Timing A Wall To Facebook Derivative Litigation Despite Unenforceability Of Forum Selection Clause

by Jim Kramer, Paul Rugani, Alex Talarides | Orrick - Securities Litigation and Regulatory... on 3/26/2013

Four derivative lawsuits against Facebook’s directors relating to alleged disclosure issues surrounding the company’s initial public offering have a new status: Dismissed. Last month, Judge Robert Sweet of the Southern...more

Without An “Intelligible Principle” Can The SEC Adopt Political Spending Rules?

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 3/19/2013

In August 2011, Professor Lucian Bebchuk and nine other law professors submitted this petition asking that the Securities and Exchange Commission adopt rules requiring public companies to disclose to shareholders the use of...more

Inside The Courts - March 2013 | Volume 5 | Issue 1

by Skadden, Arps, Slate, Meagher & Flom LLP on 3/11/2013

In This Issue: *U.S. SUPREME COURT - Class Certificaton - Amgen Inc. v. Conn. Ret. Plans and Trust Funds, No. 11 1085 (U.S. Feb. 27, 2013) - Statutes of Limitations - Gabelli v. Sec. & Exch. Comm’n, No....more

Credit Crunch Digest -- February 2013

by Jennifer Quinn Broda, Ryan Chapoteau, Matthew Ferguson, Todd McCormick, Thomas R. Orofino, Eric C. Scheiner | Sedgwick LLP on 2/28/2013

This issue of the Credit Crunch Digest focuses on fines against Royal Bank of Scotland for alleged Libor rate rigging; the Department of Justice’s lawsuit against Standard & Poors; developments in a mortgage-backed securities...more

White Collar Watch - February 2013

by Andrea P. Brockway, Justin Ettelson, Christopher R. Hall, Patrick Hromisin, Adam Isenberg, Nicholas J. Nastasi, Scott Patterson, Gregory G. Schwab, Nicholas C. Stewart | Saul Ewing LLP on 2/22/2013

In This Issue: - New HIPAA “Megarule” Broadens Enforcement - Government Declines to Seek Rehearing of Landmark Off-Label Speech Decision - Seizure of Rothstein Ponzi Assets Highlights Tension Between...more

The State Of California Seeks Back Taxes From Small-Business Shareholder- Not So Fast

by Anthony Diosdi | Moskowitz LLP on 2/14/2013

A closer look at federal constitutional case law would seem to indicate that the State of California may not find it so easy to seek refunds plus interest after all....more

California’s Attempt to Retroactively Tax its Residents

by Marty Dakessian, Kyle O. Sollie | Reed Smith on 2/12/2013

In Cutler v. Franchise Tax Board, a case litigated by Reed Smith, a California Court of Appeal held that the California property and payroll requirements of California’s Qualified Small Business Stock provisions were invalid....more

S&P Seeks Declaration That Credit Ratings Are Immune From Liability

by Orrick - Structured Finance Group on 2/11/2013

On February 5, two Standard & Poor’s entities filed a declaratory judgment action in the Southern District of South Carolina seeking to bar the South Carolina Attorney General from suing S&P under South Carolina’s Unfair...more

Fourth Circuit Affirms Finding of No Fifth Amendment Violation in Connection with 45-Year Conviction for $100 Million Investment...

by Michael S. Gordon, Elizabeth D. Langdale | Katten Muchin Rosenman LLP on 2/6/2013

The US Court of Appeals for the Fourth Circuit recently affirmed a defendant’s conviction and 45-year sentence, holding that the defendant’s Fifth Amendment rights had not been violated where the government simply had limited...more

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Securities Law › Constitutional Law

New York State Court Dismisses RMBS Putback Action Against Nomura As Time-Barred

Second Circuit Agrees To Hear Interlocutory Appeal Of Key MBS Litigation Questions

Supreme Court To Decide If It Will Decide Whether Section 16 Plaintiff Has Constitutional Standing

California Requires Many Foreign Corporations To Send Annual Financial Statements To Shareholders

S&C's Cohen: Brown-Vitter Punishes Banks For Being Big [Video]

Cohen: Cyprus Is Not A Template For Future Restructurings [Video]

The PUHCA, Chenery & The Run For The Roses

Why Incorporation May Be Unconstitutional

Using the Privilege: Fifth Amendment Fundamentals for Corporations

Second Circuit Affirms Denial of UBS’s Motion to Dismiss FHFA Complaint

SEC Files Initial Brief in Conflict Minerals Rule Case

Konczal: Dodd-Frank Reforms Get Roughed Up in Court [Video]

Purchase Timing A Wall To Facebook Derivative Litigation Despite Unenforceability Of Forum Selection Clause

Without An “Intelligible Principle” Can The SEC Adopt Political Spending Rules?

Inside The Courts - March 2013 | Volume 5 | Issue 1

Credit Crunch Digest -- February 2013

White Collar Watch - February 2013

The State Of California Seeks Back Taxes From Small-Business Shareholder- Not So Fast

California’s Attempt to Retroactively Tax its Residents

S&P Seeks Declaration That Credit Ratings Are Immune From Liability

Fourth Circuit Affirms Finding of No Fifth Amendment Violation in Connection with 45-Year Conviction for $100 Million Investment...

President Obama Re-nominates Richard Cordray For CFPB Director, Nominates Mary Jo White For SEC Chair

Corporate Law Report: Managing Cyber Risks, BYOD, Obama's NLRB Crisis, Iran Sanctions, and More [Video]

SEC Files Brief in Lawsuit Challenging Extractive Industry Transparency Rule

Does Every 10% Owner Owe A Fiduciary Duty To The Corporation?

S&C's Cohen: Brown-Vitter Punishes Banks For Being Big [Video]

Cohen: Cyprus Is Not A Template For Future Restructurings [Video]

Konczal: Dodd-Frank Reforms Get Roughed Up in Court [Video]

Corporate Law Report: Managing Cyber Risks, BYOD, Obama's NLRB Crisis, Iran Sanctions, and More [Video]

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