Orrick - Securities Litigation and Regulatory Enforcement Group

For Theranos, Life is Not All Rainbows and Unicorns: Government Conducting Criminal and Civil Investigations of Blood-Testing Company Theranos

In a memorandum released on April 18, 2016, the private blood-testing company Theranos – once valued at over $9 billion – announced that it is under investigation by the U.S. Securities and Exchange Commission (“SEC”) and the…more
| Business Organizations, Business Torts, Criminal Law, Finance & Banking, Securities Law

Eighth Circuit Breathes Life Into Halliburton's Price Impact Defense

The First Circuit Court of Appeals decision applying the Supreme Court's landmark 2014 decision in Halliburton Co. v. Erica P. John Fund Inc., 134 S. Ct. 2398 (2014) ("Halliburton II"), favored the defendants, finding as a…more
| Civil Procedure, Commercial Law & Contracts, Energy & Utilities, Securities Law

Recent SEC Enforcement Actions and Public Commentary Demonstrate the Commission’s Continued Focus on Internal Control Failures

We have previously written about how, over the past few years, the SEC and other regulatory agencies have devoted substantial resources to investigations regarding allegations that public companies have inadequate internal…more
| Civil Rights, Commercial Law & Contracts, Labor & Employment Law, Securities Law

Even Whistleblowers Must Pay the Piper

In a heavily redacted decision issued on April 5, 2016, the SEC approved the claim of one whistleblower and denied the claim of another for providing information related to an unidentified enforcement action. The SEC awarded…more
| Civil Rights, Commercial Law & Contracts, Labor & Employment Law, Securities Law

SEC Chair Warns Silicon Valley That Unicorns Need To Be Watched and Monitored

Speaking last week at the SEC’s and Rock Center’s Silicon Valley Initiative at Stanford Law School, SEC Chair Mary Jo White cautioned Silicon Valley’s start-up companies regarding their potential lack of internal controls. In…more
| Commercial Law & Contracts, Securities Law

BREAKING NEWS: Supreme Court Declines to Address the Constitutionality of Securities and Exchange Administrative Forum

On March 28, 2016, the Supreme Court denied a petition for certiorari review brought by Laurie Bebo, the former CEO of Assisted Living Concepts Inc., who challenged the constitutionality of proceedings conducted in an SEC…more
| Administrative Law, Civil Procedure, Commercial Law & Contracts, Constitutional Law, Securities Law

Supreme Court Affirms Class Certification and Judgment Predicated upon "Representative Evidence"

On March 22, 2016, the Supreme Court issued a decision permitting class plaintiffs to rely on "representative" or "sample" evidence to satisfy the prerequisites to class certification and certain elements of their claims. See…more
| Civil Procedure, Civil Remedies, Commercial Law & Contracts, Labor & Employment Law, Securities Law

Former Hedge Fund Manager’s Civil Rights Suit Against New York U.S. Attorney Permitted to Proceed into Discovery

Shortly into his tenure as United States Attorney for the Southern District of New York, Preet Bharara announced a crackdown on insider trading, indicating that it would be his office’s “top criminal priority” and that…more
| Civil Procedure, Civil Rights, Commercial Law & Contracts, Finance & Banking, Securities Law

Second Circuit Applies Omnicare to Affirm Dismissal of Securities Fraud Actions

On March 4, 2016, the Second Circuit affirmed the dismissal of two related securities actions against Sanofi Pharmaceuticals, its predecessor Genzyme Corporation, and three company executives (collectively, “Sanofi”). In doing…more
| Civil Procedure, Commercial Law & Contracts, Science, Computers, & Technology, Securities Law

Storm Warning for Safe Harbor

On February 29, 2016, the Supreme Court denied certification in Harman International Industries Inc. et al. v. Arkansas Public Employees Retirement System et al., thereby leaving unanswered a number of questions related to the…more
| Civil Procedure, Commercial Law & Contracts, Securities Law

Chancery Court Reaffirms There Is No Magic Number for "Control" Status

On February 29, 2016, the Delaware Court of Chancery denied a motion to dismiss fiduciary duty claims against certain current and former directors of Halt Medical and a 26% stockholder, American Capital, arising out of a…more
| Commercial Law & Contracts, Mergers & Acquisitions, Business Torts, Health, Securities Law

The Ripple Effects of U.S. v. Newman Continue: SEC Lifts Administrative Bar on Downstream Insider Trading Tippee and Tipper Requests that Third Circuit Vacate SEC Settlement

The ripple effects of the Second Circuit’s landmark insider trading decision, United States v. Newman, 773 F.3d 438 (2d Cir. 2014), were felt again last week. On Tuesday, February 23, 2016, the U.S. Securities and Exchange…more
| Civil Procedure, Commercial Law & Contracts, Securities Law

Full Court Pressure: SEC OIG Finds No Undue Influence By ALJs in Favor of Government

The Securities and Exchange Commission’s Office of the Inspector General (“OIG”) recently released findings from its extensive investigation into allegations of potential bias against respondents in SEC administrative…more
| Administrative Law, Commercial Law & Contracts, Securities Law

SEC Speaks – What to Expect in 2016

The leaders of the Securities and Exchange Commission (“SEC” or “Commission”) addressed the public on February 19-20 at the annual SEC Speaks conference in Washington, D.C. The presentations covered an array of topics, but…more
| Commercial Law & Contracts, Finance & Banking, International Law & Trade, Science, Computers, & Technology, Securities Law

The Carrot and the Stick: The SEC’s First Deferred Prosecution Agreement with an Individual in an FCPA Case

In a move that highlights both the increased focus on holding individuals accountable and the credit that can be earned through cooperation, the U.S. Securities and Exchange Commission (“SEC”) announced last week that, for the…more
| Commercial Law & Contracts, International Law & Trade, Securities Law
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Contact

The Orrick Building
405 Howard Street
San Francisco, CA 94105-2669, United States

Contact: Michael Torpey, Practice Leader

  • 415-773-5700
  • 415-773-5972

Areas of Practice
  • Class Action
  • Finance & Banking
  • Litigation
  • Mergers & Acquisitions
  • Securities Law
  • Taxation
Locations
Other U.S. Locations
  • California
  • D.C.
  • New York
  • Washington
Other Countries
  • China
  • France
  • Germany
  • Hong Kong
  • Italy
  • Japan
  • Russia
  • Taiwan
  • United Kingdom
Number of Attorneys

50-100 Attorneys

This profile may constitute attorney advertising. Prior results do not guarantee a similar outcome. Any correspondence with this profile holder does not constitute a client/attorney relationship. Neither the content on this profile nor transmissions between you and the profile holder through this profile are intended to provide legal or other advice or to create an attorney-client relationship.

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