News & Analysis as of

Misrepresentation Investment

Perkins Coie

FDIC’s Proposed Changes to Custodial Deposit Accounts: Practical Implications for Fintechs and Their Banks

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The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of...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

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - November 2023

...SEC Adopts Amendments to Fund Names Rule - On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Fund Names Rule) as well...more

Foley & Lardner LLP

Federal District Court Offers Broad Ruling on a Franchisor and Individual Officer’s Motion to Dismiss

Foley & Lardner LLP on

A franchisee, Functional HIIT Fitness, has filed suit in U.S. District Court in the Eastern District of Michigan against a franchisor, F45 Training Incorporated, and five of its officers: Adam Gilchrist, Robert Deutsch, Marc...more

White & Case LLP

ESG liability and litigation risks with a focus on Germany: Greenwashing

White & Case LLP on

The European Commission ("Commission") is relentless in its fight against Greenwashing and the misrepresentation of sustainability impacts or benefits of a company’s products or actions. Following the global ESG trend and the...more

The Volkov Law Group

Former MoviePass Executives Indicted for Securities Fraud

The Volkov Law Group on

The old adage — if it sounds too good to be true, then it probably isn’t — still rings true when it comes to MoviePass, which ultimately resulted in a criminal indictment charging two former executives with securities fraud....more

Cozen O'Connor

AG James Sues Crypto Companies Over Alleged Failure to Register and Misrepresentations

Cozen O'Connor on

New York AG Letitia James sued Cayman Islands-based cryptocurrency companies Nexo Inc. and Nexo Capital, Inc. (collectively, “Nexo”), alleging that Nexo violated New York’s Martin Act and Executive Law by failing to register...more

Jones Day

Recent Motion-to-Dismiss Decisions Underscore Uncertain Litigation Prospects for SPAC Participants

Jones Day on

The use of SPACs to take companies public increased dramatically in recent years, but many of these new companies performed poorly after entering the public capital markets. This poor performance, often accompanied by...more

Cadwalader, Wickersham & Taft LLP

Securities Litigation Update: Divided Ninth Circuit Permits Direct-Listing Investors to Assert Securities Act Claims, Despite...

On September 20, 2021, in Pirani v. Slack Technologies, Inc., a divided panel of the U.S. Court of Appeals for the Ninth Circuit held that investors who purchase stock in a “direct listing”—in which pre-existing shares are...more

Mintz

Government Investigation Into Possible Misrepresentations by Deutschebank in Green Investing

Mintz on

The Wall Street Journal has reported on a government investigation into DWS, an entity that is majority-owned by Deutschebank, in connection with potential misrepresentations concerning the ESG investing strategy disclosed by...more

Akerman LLP

SPAC Mergers in the SEC’s Crosshairs? Recent Enforcement Activity Highlights Increased SPAC Merger Risk

Akerman LLP on

The past few weeks have seen a turn of events for companies involved with Special Purpose Acquisition Company (SPAC) vehicles. First, the Securities and Exchange Commission (SEC) announced civil administrative charges against...more

Jones Day

SPAC Founders, Beware: SEC Targets Founders Shares

Jones Day on

The Securities and Exchange Commission ("SEC") charges a special purpose acquisition company ("SPAC"), its CEO, and sponsor, as well as the merger acquisition target, with securities law violations, resulting in significant...more

Fenwick & West LLP

Grand Jury Indicts Startup Founder Isaac Choi – Implications for Silicon Valley

Fenwick & West LLP on

On June 7, the U.S. Department of Justice arrested Isaac Choi, the founder and former chief executive of the Silicon Valley startup, WrkRiot, on wire fraud charges. A San Jose, California grand jury had indicted Choi under...more

CMCP - California Minority Counsel Program

OMNICARE and its Implications

In the spring of this year, the Supreme Court issued its long-awaited decision in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, 135 S.Ct. 1318 (2015), resolving a circuit split regarding the...more

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