The Nasdaq Stock Market LLC (Nasdaq) recently filed with the Securities and Exchange Commission (SEC) the proposed amendments to its rules regarding the delisting of penny stocks (i.e., shares with bid price below $1.00),...more
Nasdaq is asking for the Securities and Exchange Commission's blessing to codify proposed standards of review governing appeals before the Nasdaq Listing and Hearing Review Council (the Listing Council)....more
On August 8, 2024, the Nasdaq Stock Market LLC (“Nasdaq”) submitted a proposal to amend its rules regarding penny stocks (i.e., stocks trading below a $1.00 minimum bid price) to make it easier for Nasdaq to delist them....more
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
Nasdaq has proposed amendments to its listing standards that would accelerate the delisting process for certain companies that fail to satisfy its minimum bid price requirement. These proposals are ostensibly in response to...more
Nasdaq is proposing accelerated compliance and delisting timelines for all companies that do not comply with its minimum bid price requirement Additionally, under the proposed rule, if a company has implemented a reverse...more
It has been a busy year for issues related to drug pricing, and with the election around the corner, litigation issues that have been developing over the last few years are likely to be a key focus for the second half of...more
On June 10, 2024, Judge Stanley R. Chesler of the United States District Court for the District of New Jersey granted the Amneal defendants’ motion for partial judgment on their counterclaims in a Hatch-Waxman dispute, and...more
On Friday, April 5, 2024, the U.S. Fish & Wildlife Service (the “Service”) finalized a rule clarifying the procedures and criteria for listing, reclassifying, and delisting species on the Lists of Endangered and Threatened...more
For those doing SPACs, you may want to take note of this recent proposed rule change from the NYSE. The proposal would amend Section 102.06 of the Listed Company Manual to allow a SPAC to “remain listed until forty-two months...more
Calls for Removal of Device Patents Listed in the Orange Book Continue. FTC and Congressional action scrutinizing allegedly “improper” Orange Book listings continued apace in the first few months of 2024. ...more
As discussed last month, the FTC sent letters to 10 pharmaceutical companies, asserting that their listing of over 100 patents in FDA’s Orange Book for a variety of products was improper. Shortly thereafter, the FTC began...more
On December 6, the Biden Administration released the Fall 2023 Unified Agenda of Regulatory and Deregulatory Actions (Unified Agenda), which lists the regulatory and deregulatory actions the various federal administrative...more
FTC recently placed improper Orange Book patent listings squarely in its crosshairs. In its September 2023 policy statement, FTC announced that it would “scrutinize improper Orange Book listings” and “use its full legal...more
On Sept. 18, the New York State Department of Financial Services issued proposed guidance for companies holding virtual currency business licenses and limited-purpose trust companies — collectively referred to as virtual...more
On September 30, 2023, the U.S. District Court for the District of Columbia granted summary judgment in favor of the U.S. Fish and Wildlife Service (Service) in a case challenging the agency’s final rule downlisting the...more
What Happened? The New York Department of Financial Services (NYDFS or Department) released proposed updates to its guidance on the self-certification process for listing and delisting digital assets. It also announced...more
Financial Firms Launch Crypto Products for Custody, Tokenization and Staking - In a recent press release, BitGo announced its plans “to create the first Bitcoin-only trust company” by partnering with Swan Bitcoin, a leading...more
During periods of market turmoil and declining stock prices, companies may be tempted or pressured to delist and deregister their shares. This process is often referred to as “going dark.” Given the poor performance of...more
Short sellers make their money by publishing information that attacks a company in order to drive down its share price. How can a company prepare? And what should it not do in the face of a short attack? We offer some tips in...more
On August 11, 2023, the U.S. Fish and Wildlife Service (Service) published a proposed rule to delist the Apache trout (Oncorhynchus apache) under the Endangered Species Act (ESA) due to the species’ recovery. The Apache...more
The German takeover market is declining and has shown clear signs of having been affected by the current economic and geopolitical environment. The number of takeovers and the total offer volume have both fallen...more
Welcome to 2023! The new year holds much anticipation. The Fed rate hikes have slowly started to reduce inflation, yet prices remain high. ...more
中美审计监管合作取得积极进展，消除在美国上市的中概股会被退市摘牌的预期，中概股公司赴美上市重启在望。 2022年12月15日，美国公众公司会计监督委员会（PCAOB）确定其能够获得对位于中国大陆和香港的会计师事务所进行全面检查和调查的权限。此举消除了市场上，对于中概股公司有可能将最早于2023年被禁止在美国交易，以及从美国证券交易所退市的预期。这是近年来，关于中美审计监管的最新积极进...more
The Public Company Accounting Oversight Board (“PCAOB”) announced on December 15, 2022 that it has secured complete access to inspect and investigate audit firms in mainland China and Hong Kong for the first time in history....more