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Dorsey & Whitney LLP

The Perils of Finder’s Fees (Revisited)

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Way back in 2017, one of our earliest posts discussed the legal and financial risks to both the issuer and the finder if an issuer pays a finder’s fee in connection with a sale of securities in the United States, and the...more

Dechert LLP

Second Circuit Finds that Section 47(b) Provides for Private Right of Action, Raising New Implications and Considerations for...

Dechert LLP on

The U.S. Court of Appeals for the Second Circuit, in disagreeing with the Courts of Appeals for the Third and Ninth Circuits, ruled on August 5, 2019 in Oxford University Bank v. Lansuppe Feeder, Inc. that a private right of...more

Vedder Price

Second Circuit Creates Split Regarding Private Right of Action for Rescission under Section 47(b) of the 1940 Act

Vedder Price on

On August 5, 2019, the U.S. Court of Appeals for the Second Circuit created a split with other courts regarding whether there is a private right of action for rescission under Section 47(b) of the Investment Company Act of...more

A&O Shearman

Second Circuit Finds New Private Right Of Action Under Investment Company Act Of 1940

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Rejecting a widely-held consensus, on August 5, 2019, the United States Court of Appeals for the Second Circuit held that Section 47(b)(2) of the Investment Company Act (“ICA”) creates an implied private right of action for...more

Sheppard Mullin Richter & Hampton LLP

Airdrop of Crypto Tokens Hits Regulatory Flak

Sheppard Mullin Richter & Hampton LLP on

On August 14, 2018, the U.S Securities and Exchange Commission (“SEC”) issued a cease and desist order (the “Tomahawk Order”) against Tomahawk Exploration LLC (“Tomahawk”) and David Thompson Laurance (“Laurance”) for their...more

Bass, Berry & Sims PLC

Chris Lazarini Analyzes Court's Interpretation of Contract Language

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Bass, Berry & Sims attorney Chris Lazarini analyzed a case questioning whether a breach of contract occurred. The court, in interpreting a contract, must determine the intent of the parties from the language used in the...more

Jones Day

The Climate Report - Fall 2017

Jones Day on

US. REGULATORY AND LITIGATION DEVELOPMENTS - EPA PROPOSES TO RESCIND CLEAN POWER PLAN - What EPA Did - In a decision expected and promised since the election of President Donald Trump, the United States...more

King & Spalding

Falling Oil Prices Are Not the Only Deterrent to Investment in Mexico's Oil Fields

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On July 15, Mexico auctioned 14 shallow-water exploration blocks. The auction marked the first time in nearly eight decades that private and foreign investors could directly participate in Mexico's exploration and production...more

Allen Matkins

Investors Claim Failure To Qualify Justifies Issuer’s Return Of Investment

Allen Matkins on

The remedy for failure to qualify the sale of a security is either rescission or damages. Cal. Corp. Code § 25503. Thus, one typically expects to see investors alleging a failure to qualify as grounds for returning their...more

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