The Delaware Court of Chancery has recently held in In re McDonald’s Corporation Stockholder Derivative Litigation that shareholders can pursue a derivative claim for breach of the fiduciary duty of oversight against...more
From their creation in 1993, the New York State Supreme Court Commercial Division Rules have been developed and refined by judges and practitioners to pursue the twin goals of cost containment and fair adjudication....more
2/2/2021
/ Administrative Orders ,
Affidavits ,
Commercial Litigation ,
Court Appearances ,
CPLR ,
Depositions ,
Interrogations ,
Litigation Strategies ,
Motion for Summary Judgment ,
New Rules ,
NY Supreme Court ,
Scheduling Orders ,
Testimony
Last year, a group of state attorneys general (AGs) filed suit against the Securities and Exchange Commission (SEC), challenging the agency’s Regulation BI (Best Interest), enacted in June 2019. Regulation Best Interest...more
7/7/2020
/ Broker-Dealer ,
Dodd-Frank ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Regulation Best Interest ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Standard of Conduct ,
State Attorneys General
The Supreme Court’s 2017 decision in Kokesh v. SEC found that, for statute of limitations purposes, the Securities and Exchange Commission’s disgorgement remedy represents a “penalty.” This created peril for the SEC’s...more
6/29/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
Can the Supreme Court’s 2017 decision in Kokesh v. SEC, which found that disgorgement is a penalty and not an equitable remedy for statute of limitations purposes, be logically expanded to spell the end of the SEC’s...more
Led by New York Attorney General Letitia James, a group of eight state AGs filed suit against the Securities and Exchange Commission (SEC), challenging the agency’s recently enacted Regulation BI (Best Interest)....more
By a 3-to-1 vote, the Securities and Exchange Commission (SEC) adopted a rulemaking package concerning investment adviser and broker-dealer standards of conduct....more