News & Analysis as of

Fraud Securities Securities and Exchange Commission (SEC)

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
A&O Shearman

SEC Achieves Jury Verdict In Cryptocurrency Fraud Case

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On April 5, 2024, a jury in the Southern District of New York found cryptocurrency startup Terraform Labs PTE Ltd. (the “Company”) and its co-founder, Do Kwon, liable for securities fraud. The jury sided with the SEC in...more

Jones & Keller, P.C.

Crypto and Securities Law: Lessons from SEC v. Coinbase

Jones & Keller, P.C. on

...A recent decision in an SEC enforcement action against Coinbase, the largest crypto-asset trading platform in the U.S., provides some long-awaited guidance on a topic that has been the subject of considerable debate in the...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: January 1, 2024

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2023

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2023 was another groundbreaking year for whistleblower litigation and bounty awards. The U.S. Securities and Exchange Commission shattered records by issuing a $279 million award and continued to actively enforce the...more

Kohn, Kohn & Colapinto LLP

Gensler discusses markets “ripe with misconduct” and new SEC rules to address Changing Times

On September 12, the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. His testimony emphasized that market growth combined...more

ArentFox Schiff

SEC Crypto Crackdown Continues: Binance and Coinbase Charged with Violating Securities Laws

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Last week — in separate actions over the course of 48 hours — the US Securities and Exchange Commission (SEC) filed lawsuits against crypto asset platform operators Binance (including related entities and founder Changpeng...more

Goodwin

Court Dismisses Post-SPAC Class Action for Lack of Standing

Goodwin on

On March 31, 2023, U.S. District Judge Ronnie Abrams of the Southern District of New York dismissed a putative securities class action against CarLotz, Inc. (CarLotz), and certain of its officers and directors on the grounds...more

Dechert LLP

Securities and Derivative Litigation: Quarterly Update - May 2023

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In this edition of Dechert’s Securities & Derivative Litigation Quarterly Update, we: Examine the first criminal insider trading prosecution based on a 10b5-1 trading plan;...more

Seward & Kissel LLP

Rescue Binancing, Bankman-Fraud? New Cases on the Block

Seward & Kissel LLP on

SEC files objection to Binance.US bid for Voyager assets | Cointelegraph - The SEC has confirmed that they are objecting Binance.US’ move to acquire over $1B in assets belonging to the now defunct cryptocurrency lending...more

Proskauer - Blockchain and the Law

Fraud Claims Against Token Issuer Dismissed Based on Disclosures to Accredited Investor

The organizers of an initial coin offering (ICO) recently won dismissal of an investor’s fraud claims by establishing that their public risk disclosures negated the investor’s claims of reliance on alleged misstatements. The...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.27.16

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We learned yesterday that Twitter’s shopping itself around for a buyer. It’s facing one big complication, though—the sizeable amount of stock Twitter has doled out to its employees over the years. Last year, for example,...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The broken windows approach to enforcement continued this week. The Commission bundled together eight settled administrative proceedings centered on going private transactions in which the Respondents failed to update their...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The DOJ’s settlement with S&P for $1.4 billion, coupled with admissions of fact, made headlines this week. The settlement was joined by 19 states and the District of Columbia. The DOJ and the states will essentially split the...more

Dorsey & Whitney LLP

SEC Files Prime Bank Fraud and Offering Fraud Actions as Administrative Proceedings

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The trend of selecting administrative proceedings rather than Federal court by the SEC appears to be continuing. Since last September, for example, the SEC has filed at least seven insider trading cases as administrative...more

Dorsey & Whitney LLP

Tipper in Serial Insider Trading Ring Indicted

Dorsey & Whitney LLP on

Criminal insider trading charges were filed against the former managing clerk of Simpson Thacher & Bartlett, Steven Metro. U.S. v. Metro (D. N.J. Jan. 15, 2015). Mr. Metro was indicted by a grand jury on one count of...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Week ending April 25, 2014)

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Insider trading and fraudulent investment schemes were the focus of SEC enforcement this week. The Commission filed insider trading actions tied to the massive BP oil spill, clinical trials for a drug and the expert network...more

Dorsey & Whitney LLP

This Week In Securities Litigation (The week ending January 10, 2014)

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The insider trading trial of former SAC Capital official Matthew Martoma opened this week in Manhattan with jury selection. The SEC announced the resignation of George Canellos, Co-director of the Division of Enforcement....more

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