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Securities Fraud Commercial Bankruptcy

Jones Day

New York Bankruptcy Court: Setoff and Unjust Enrichment Cannot Be Asserted as Affirmative Defenses in Bankruptcy Avoidance...

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In a 2021 ruling, the U.S. Court of Appeals for the Second Circuit revived nearly 100 lawsuits seeking to recover fraudulent transfers made as part of the Madoff Ponzi scheme. In one of the latest chapters in that resurrected...more

Farella Braun + Martel LLP

In Verizon Decision Careful Review of Insurance Policies Expands Coverage

In Verizon Communications Inc. v. National Union Fire Insurance Co. of Pittsburgh, Pa. the Delaware Superior Court ruled that Verizon was entitled to a defense under its D&O policy for fraudulent transfer claims. Although the...more

Carlton Fields

Bar Orders Must Be Integral To Settlement in Order To Be Essential

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Bar orders have been a useful tool in resolving various types of litigation. These include claims against companies that are in bankruptcy or receivership....more

Carlton Fields

Recovery by ICO Token Investors May Be Challenged in Bankruptcy

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Bankruptcy courts may provide relief to debtors by discharging pre-petition obligations to repay existing debts owed to creditors, and claims by equity holders. Creditors who hold debt and investors who hold equity interests,...more

Robins Kaplan LLP

Financial Daily Dose 8.3.2020 | Top Story: Microsoft in Talks to Acquire ByteDance’s U.S. TikTok Operations

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Following recent histrionics from the White House, ByteDance, “the Chinese internet giant that owns TikTok, has offered to sell all of the popular video app’s American operations as a way to save the business from being...more

Lowenstein Sandler LLP

Kirschner v. JPMorgan Chase Bank: Case Update

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In a previous post, we discussed Kirschner v. JPMorgan Chase Bank, an action in which the trustee of bankrupt Millennium Labs brought state law securities fraud claims on behalf of a group of “approximately 400 mutual funds,...more

Dechert LLP

Asset Management Litigation/Enforcement Flash Report

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Especially in today’s economic and work environment, we find it helpful – and we therefore thought our clients would also find it helpful – to keep track of the important litigation and regulatory enforcement developments...more

Winstead PC

Fifth Circuit Affirmed Judgment Against A Company’s Former Officer For Breach Of Fiduciary Duty

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In Ebert v. Dejoria (In re Latitude Sols., Inc.), a bankruptcy trustee sued a company’s former officers for breach of fiduciary duty. No. 18-10382, 2019 U.S. App. LEXIS 13060 (5th Cir. April 30, 2019)....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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CBS isn’t the only large company with insider trading worries. In complaints made public yesterday, the SEC has accused Gene Levoff, Apple’s former senior director of corporate law and corporate secretary, of “repeatedly”...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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As expected, Theresa May’s Brexit deal was roundly defeated in Parliament yesterday by an overwhelming 230-vote margin, the biggest House of Commons loss for a PM “in recent British history.” Following the vote, Labour Party...more

Orrick, Herrington & Sutcliffe LLP

The World In U.S. Courts - Spring 2017

Cases discussed in this issue - Alien Tort Statute (ATS)/Torture Victims Protection Act (TVPA)/Political Question Doctrine/Foreign Sovereign Immunity Act (FSIA)/Act of State Doctrine - Court of Appeals Considers US...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Former NJ Senator and Governor Jon Corzine has reached a $5 million settlement with regulators over the collapse of his MF Global firm, which filed bankruptcy in 2011 and lost more than $1 billion in customer investments....more

McDermott Will & Emery

D&O Insurance—Issues to Consider Before a Claim Arises

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In Depth - Directors and officers (D&O) liability insurance remains a vital issue for companies and their directors and officers as potential sources of liability continue to evolve. More securities lawsuits were filed...more

Dorsey & Whitney LLP

SEC Efforts To Compel SIPIC Coverage For Stanford Victims Rejected

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The D.C. Circuit rejected efforts by the SEC to compel the Securities Investor Protection Corporation to liquidate a broker-dealer that was part of the Stanford Ponzi scheme empire. The investors had purchased CDs from an...more

Dorsey & Whitney LLP

BAC CEO Pays $10 Million Plus D&O Bar To Settle NYAG Market Crisis Case

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Former Bank of America CEO Kenneth Lewis agreed to pay $10 million and to be barred from serving as an officer or director of a public company for three years to settle fraud charges brought by the New York Attorney General...more

Dorsey & Whitney LLP

US China Trade War–Developments Trade, Customs, Patents, US/China Antitrust And Securities

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There have been some major developments in the trade, Customs fraud, patents, US/Chinese antitrust, and securities areas. I have just returned from a trip of more than 2 weeks in China. While in China, we discussed US...more

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