False Statements

News & Analysis as of

SEC Prevails In Jury Trial Against Former CEO of Drug Firm

The SEC prevailed at trial against the former CEO of a biopharmaceutical company on claims that he made false and misleading statements regarding the regulatory approval status of the firm’s only drug. Following a two week...more

Second Circuit Issues Amended Order Affirming Dismissal in Transocean

On April 29, the United States Court of Appeals entered an amended order (previously decided on March 17, 2016) that affirmed the decision of the United States District Court for the Southern District of New York in DeKalb...more

This Week In Securities Litigation

The SEC requested comment on the development of a consolidated audit trail this week, a concept long discussed. The audit trail would enable regulators to track trading activity in the U.S. markets. Enforcement initiated...more

Class Certification: Halliburton II and Basic

The predicate for many securities class actions is the fraud-on-the-market theory, adopted by the Supreme Court in Basic, Inc. v. Levinson, 485 U.S. 224 (1988). There the Court held that a securities law plaintiff could...more

SEC Affirms Sanctions on Stanford’s CCO

The SEC recently affirmed its ALJ’s ruling barring Alan Stanford’s former CCO from the industry and ordering monetary penalties of $260,000 together with $591,992 in disgorgement. The Commission held the CCO approved false...more

SEC Prevails At Trial Over Former Professional Athlete

Sometimes is does not pay to be the last man standing – particularly in a Commission enforcement action. Such was the fate of former NFL player and Olympic athlete Willie Gault. SEC v. Heart Tronics, Inc., Case No....more

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

This Week In Securities Litigation

Budget hearings were a focus this week as the Chair of the SEC and Chairman of the CFTC visited Capitol Hill. Both sought substantial increases, requesting more money for technology, inspections and enforcement. While the...more

Second Circuit Narrowly Applies Supreme Court’s Decision in Omnicare

In In re Sanofi Securities Litigation, No. 15-588-cv, 2016 U.S. App. LEXIS 4107 (2d Cir. Mar. 4, 2016), the United States Court of Appeals for the Second Circuit affirmed the dismissal of class action complaints alleging that...more

Why I’m So Passionate about Omnicare

On March 24, 2015, the U.S. Supreme Court issued its opinion in Omnicare, Inc. v. Laborers Dist. Council Const. Industry Pension Fund, 135 S. Ct. 1318 (2015). My partner Claire Davis and I are publishing a forthcoming...more

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

Protection for statements made outside the four corners of an agreement

A lot gets said by a lot of different people when selling a business. This is largely unavoidable in a full, negotiated sales process, as owners, management, investment bankers, employees, accountants, lawyers and others all...more

This Week In Securities Litigation

This week the SEC brought six actions tied to the failure of a rapidly growing enterprise to maintain the proper internal controls. The agency also brought two proceedings tied to municipal bond offerings and one insider...more

Developer Facing 230-Year Sentence Illustrates Necessity of Full and Accurate Disclosure

Demonstrating the importance of full and accurate disclosure, a Chicago commercial real estate developer faces a maximum sentence of 230 years in prison for misrepresenting his company’s finances. After a two-week trial, on...more

Business Litigation Reporter - February 2016

Confidentiality Agreement Must be Expressly Preserved in New Employment Agreement. The decision in Meschino v. Frazier Industrial Co., 2015 WL 7295463, at *1 (D. Mass. Nov. 18, 2015) (Stearns, J.), underscores that an...more

Loving Thy Neighbor & the Defamatory Flyer

Pete Kusdel was walking his dog through his neighborhood one morning when he saw papers strewn all over one of the streets—it looked like a recycling truck had lost its load! Mad as heck and ready to call the local garbage...more

SEC’s Charges Provide Support for Class Plaintiffs’ Allegations in the Ocwen Securities Litigation

A December 22, 2015 decision of the U.S. District Court of the Southern District of Florida in In re Ocwen Financial Corporation Securities Litigation illustrates the impact that an investigation and order of the Securities...more

Washington Court Holds Product Misappropriation Not An Advertising Injury

This article discusses a recent decision in Evanston Ins. Co. v. Clartre, Inc., 2016 U.S. Dist. LEXIS 7289 (W.D. Wash. Jan. 21, 2016), by the United States District Court for the Western District of Washington. At...more

Chobani Yogurt Ad Campaign Enjoined – A Healthy Result for Yoplait and Dannon

When I opened up a newspaper a few weeks ago and saw an ad by Chobani for its Simply 100 Greek Yogurt, my first thought was, “that’s going to provoke a false advertising dispute.” Here’s what Chobani said about its competitor...more

Guest Post -- It’s No Crime: Ninth Circuit Gets Crime-Fraud Exception Case Mostly Right

2016 is well underway and some of us have already abandoned our well-intentioned New Year’s resolutions. But for those who might be thinking about weight loss, here’s a cautionary tale with a pretty happy ending from our...more

5 Securities Litigation Issues to Watch in 2016

The coming year promises to be a pivotal one in the world of securities and corporate governance litigation. In particular, there are five developing issues we are watching that have the greatest potential to significantly...more

Can I Be Criminally Prosecuted for Violating Federal Safety and Health Regulations?

Earlier this month, a federal jury in West Virginia found Don Blankenship, former Chairman and CEO of the Massey Energy Company, guilty of a misdemeanor charge of conspiring to willfully violate safety and health standards...more

Mintz Levin Health Care Qui Tam Update - Recently Unsealed Whistleblower Cases: December 2015

Trends & Analysis - We have identified 24 health care–related qui tam cases that have been unsealed since our last Qui Tam Update. Of the 24 cases, five were filed within the past year, seven were filed in 2014, three...more

Second Circuit Tells Public Figures Suing For Defamation: We Need Plausible Factual Allegations Of Actual Malice

In Biro v. Condé Nast, et al., the Second Circuit recently determined that, in a defamation action, limited-purpose public figures must plead in a “plausible way” that the defendants acted with actual malice, citing Federal...more

First Circuit Reverses SEC In State Street Bank Case

The long ordeal of two former employees of State Street Bank and Trust Company appears to have come to an end. Initially charged by the SEC with making false statements in the mist of the market crisis, the Administrative Law...more

169 Results
|
View per page
Page: of 7
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×