News & Analysis as of

Suit to Enjoin SEC Forum Selection Dismissed

Many have expressed concern regarding the increasing use of administrative proceedings by the SEC. Those concerns range from the fairness of the forum to the impact of its lack of discovery on complex cases to the right to a...more

Consequences of a Data Breach: Lessons from Wyndham Worldwide

On October 20, 2014, Wyndham Worldwide Corporation won dismissal of a shareholder derivative suit seeking damages arising out of three data breaches that occurred between 2008 and 2010. Dennis Palkon, et al. v. Stephen P....more

U.S. District Judge in Florida Dismisses SEC Action Against Corporate Defendants and Holds that Five-Year Statute of Limitations...

On May 12, Judge James Lawrence King of the U.S. District Court for the Southern District of Florida dismissed with prejudice the U.S. Securities and Exchange Commission’s (SEC) case against five defendants in an action...more

Orrick's Financial Industry Week in Review - April 14, 2014

Agencies Apply Increased Leverage Ratio to Large U.S. Banks - On April 8, the Fed, FDIC and OCC adopted the final rule to increase the leverage ratio for the largest U.S. banks. The final rule applies to U.S. bank...more

Securities Fraud Claims Against CommScope Dismissed

The US District Court for the Western District of North Carolina dismissed a shareholder securities fraud claim against CommScope, Inc. and its officers, holding that the company’s alleged misrepresentations constituted...more

Corporate and Financial Weekly Digest - August 16, 2013

In this issue: - SEC Issues Risk Alert on Options Trading Used to Evade Short-Sale Requirements - SEC Order Temporarily Exempting Certain Broker Dealers and Certain Transactions from the Recordkeeping and...more

Bad Things Come In Threes For CCOs

It is often said that bad things come in threes. I have often wondered where this phrase came from. ...more

SEC Suit Against Radius Capital, CEO Dismissed in Part as Untimely

On July 15, U.S. District Judge John Steele of the Middle District of Florida granted in part a motion to dismiss the SEC’s claims against now-defunct Radius Capital and its former CEO, Robert DiGiorgio....more

Corporate and Financial Weekly Digest - May 24, 2013

In this issue: - SEC Division of Corporation Finance Issues 13 New and Revised C&DIs - CFTC Issues Final Trade Execution Rules - CFTC Issues Interpretive Guidance on Disruptive Trade Practices - New York...more

Appeals Court Dismisses Challenge To SEC Resource Extraction Rules

In 2012 ,the SEC adopted final rules requiring public companies engaged in certain oil and gas activities to disclose payments made to domestic and foreign governments as required by the Dodd-Frank Act. The rules were...more

District of Colorado Dismisses, in Part, Securities Fraud Claims in Ponzi Scheme Suit

The US District Court for the District of Colorado considered several motions to dismiss a class-action suit filed by plaintiff Touchtone Group, LLC to recover damages resulting from a Ponzi scheme devised by Mantria...more

Court Dismisses Chamber of Commerce and ICI Lawsuit Over Amendments to CFTC Rule 4.5

On Wednesday, December 12, the United States District Court for the District of Columbia dismissed a joint U.S. Chamber of Commerce (the Chamber) and Investment Company Institute (ICI) lawsuit against the Commodity Futures...more

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