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Appeals Securities and Exchange Commission (SEC)

Seward & Kissel LLP

Nasdaq Proposes Modifications to Delisting Process for Securities Failing to Maintain Compliance with Minimum Bid Price...

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On August 6, 2024, the Nasdaq Stock Market LLC (“Nasdaq”) submitted proposed rule changes to the U.S. Securities and Exchange Commission (“SEC”). If adopted, the revised rules would modify the Nasdaq delisting process in...more

Sheppard Mullin Richter & Hampton LLP

Ninth Circuit Applies Birnbaum Rule to Affirm Dismissal of Claims by SPAC Investors Asserted Against Target Company Executives for...

In Max Royal LLC v. Atieva, Inc., No. 23-16049, 2024 U.S. App. LEXIS 19910 (9th Cir. Aug. 8, 2024), the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a securities class action brought by...more

Mintz - Intellectual Property Viewpoints

Assessing the Impact of Recent Supreme Court Decisions on Section 337 Practice – Less than Meets the Eye?

Late last month, the Supreme Court issued two opinions which seemingly shook up the field of administrative law.  As explained in this article, however, while both decisions bear significantly on certain administrative...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - July 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Vinson & Elkins LLP

SCOTUS To Focus on the Securities Fraud Pleading Standard in Two Cases Next Term

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In a pair of orders issued this month, the U.S. Supreme Court signaled plans to provide further guidance in its upcoming Fall term concerning application of the heightened standard for pleading securities fraud claims...more

A&O Shearman

United States Supreme Court Grants Certiorari To Consider When Already-Materialized Risks Must Be Disclosed

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On June 10, 2024, the United States Supreme Court granted certiorari to review a decision of the United States Court of Appeals for the Ninth Circuit that partially reinstated a putative class action asserting claims under...more

Goodwin

Fifth Circuit Vacates the Private Funds Rules And Constrains the SEC’s Rulemaking Authority

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Yesterday, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit vacated the “Private Funds Rules,” which the Securities and Exchange Commission (the “SEC”) adopted on August 23, 2023. The opinion of the...more

White & Case LLP

5th Circuit Strikes Down Private Fund Adviser Rules

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On June 5, 2024, The United States Court of Appeals for the Fifth Circuit (Fifth Circuit) vacated new rules applicable to advisers to private funds1 recently enacted by the Securities and Exchange Commission (SEC). These...more

Proskauer Rose LLP

Fifth Circuit Strikes Down Private Fund Adviser Rules

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In a significant decision released Wednesday morning, a unanimous three-judge panel for the U.S. Court of Appeals for the Fifth Circuit vacated what have come to be known as the Private Fund Adviser Rules, a set of rules and...more

Goodwin

Key Questions for the Upcoming Private Funds Rules Fifth Circuit Decision

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As a reminder, the Securities and Exchange Commission (SEC) and the National Association of Private Fund Managers (NAPFM) and the other Petitioners in the Private Funds Rules Litigation1 requested that the three-judge panel...more

Kohn, Kohn & Colapinto LLP

For First Time, Whistleblower Receives SEC Award After Appealing Denial Before Court of Appeals

In April, the U.S. Securities and Exchange Commission (SEC) awarded $400,000 to a whistleblower after previously denying the whistleblower’s award claim in 2022. The whistleblower appealed this denial before the Court of...more

Proskauer - Labor Relations Update

Launching into New Territory (Continued): SpaceX Wins Temporary Relief at Fifth Circuit

On May 2, 2024, the U.S. Court of Appeals for the Fifth Circuit, in Space Exploration Technologies Corp., v. NLRB, No. 24-40315 (5th Cir. 2024), granted SpaceX’s Emergency Motion for Injunction Pending Appeal, essentially...more

Proskauer - Regulatory & Compliance

SEC Voluntarily Stays Corporate ESG Disclosure Rules Pending Litigation           

Yesterday, the SEC voluntarily stayed its new ESG disclosure rules for public companies pending the outcome of several lawsuits that have been filed, which are now consolidated in the 8th Circuit US Court of Appeals. We...more

Keating Muething & Klekamp PLL

New SEC Climate Disclosure Rules – Temporarily Stayed

On March 15, 2024, the U.S. Court of Appeals for the Fifth Circuit issued a stay of the Securities and Exchange Commission’s new climate-disclosure rules, which were adopted March 6. The three-judge panel granted the requests...more

Pillsbury Winthrop Shaw Pittman LLP

SEC’s Climate Disclosure Rules Could Collide with California’s Laws

The SEC’s new climate regulations generate uncertainty for companies that must comply with both the SEC’s and California’s climate-related disclosure requirements. On March 6, 2024, the U.S. Securities and Exchange...more

Foley Hoag LLP - Public Companies & the Law

Stay of SEC’s Climate Rules Lifted (for now)

The Eighth Circuit has the power to reimpose the stay, either on the same or different terms. Companies affected by the climate rules should continue to monitor the case for further developments....more

ArentFox Schiff

Three Cases Highlight the Importance of Judicial Branch Procedural Rules in Resolving Policy Disputes

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Policy debates normally focus on substance. Is climate change real? How can business entities weigh environmental, social, and governance (ESG) factors into their decision-making? ...more

Seward & Kissel LLP

Home is Where Your Server Is?

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On March 8, 2024, the U.S. Court of Appeals for the Second Circuit reversed and remanded a District Court decision that dismissed all claims by plaintiff crypto investors against Binance, an international electronic exchange...more

Foley Hoag LLP - Energy & Climate Counsel

Federal Court of Appeals Stays SEC Climate Rule

On Friday, March 15, 2024, the United States Court of Appeals for the Fifth Circuit issued an administrative stay on the application of the SEC’s new rules regarding climate-related disclosures for investors, which we covered...more

Mintz

That Didn't Take Long . . . Fifth Circuit Temporarily Blocks New SEC Climate Disclosure Rule

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Today, the Fifth Circuit Court of Appeals issued an administrative stay of the SEC's recent climate disclosure rule, which was issued last Wednesday, March 6, 2024. The unpublished order by a three judge panel (Jones,...more

Proskauer - Corporate Defense and Disputes

Fifth Circuit Orders En Banc Rehearing of Rejected Challenge to Nasdaq’s Board-Diversity Rules

Well – this took four months. The U.S. Court of Appeals for the Fifth Circuit ordered en banc rehearing of an unsuccessful challenge to the Securities and Exchange Commission’s approval of the Nasdaq Stock Market’s rules...more

Goodwin

2023 Year in Review: Major U.S. Supreme Court and Appellate Cases

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Welcome to the Major US Supreme Court and Appellate Cases chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The Supreme Court continues to take a close look at major...more

Mintz

SEC Approves Spot Bitcoin ETFs But Gensler Still Disapproves of Crypto

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On January 10, 2024, the U.S. Securities and Exchange Commission (“SEC”) approved eleven applications for spot exchange-traded funds (“ETFs”) tracking Bitcoin. This landmark moment for the crypto asset industry has been over...more

Seward & Kissel LLP

SEC Approves First Round of Bitcoin ETFs

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Who may be interested: Investment Advisers, Registered Investment Companies - The SEC approved the creation and listing of eleven spot Bitcoin ETFs on January 10th. Several firms received approval to launch funds,...more

Perkins Coie

SEC Approves 11 Spot Bitcoin Exchange-Traded Products

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On January 10, the Securities and Exchange Commission gave the green light to 11 issuers that applied for bitcoin exchange-traded funds (ETFs). After a false announcement and a course change due to the ruling in Grayscale...more

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