On June 14, 2022, the U.S. Court of Appeals for the Third Circuit affirmed the dismissal of a securities suit brought by investors in pharmaceutical company, Amarin Corporation, PLC, holding that the investors had failed to...more
7/1/2022
/ Blockchain ,
Board of Directors ,
Class Action ,
Dismissals ,
False Statements ,
Food and Drug Administration (FDA) ,
Government Investigations ,
Misleading Statements ,
Putative Class Actions ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Litigation ,
Securities Violations ,
Shareholder Litigation ,
Subpoenas
Northern District of California Validates SEC’s “Shadow Trading” Theory of Insider Trading Liability; Seventh Circuit Reverses Dismissal of Stockholder Derivative Suit Against Boeing Based on Forum-Selection Bylaw; Delaware...more
1/27/2022
/ Board of Directors ,
Breach of Duty ,
Bylaws ,
Derivative Suit ,
Enforcement Actions ,
False Statements ,
Fiduciary Duty ,
Forum Selection ,
Insider Trading ,
Mergers ,
Misleading Statements ,
Putative Class Actions ,
Reversal ,
Securities and Exchange Commission (SEC) ,
Securities Violations
Delaware Court of Chancery Finds that Director’s Email on Outside Email System Remains Confidential; Delaware Supreme Court Overrules Longstanding Precedent Regarding Derivative Versus Direct Standing; SEC Files Crowdfunding...more
10/8/2021
/ Anti-Fraud Provisions ,
Attorney-Client Privilege ,
Board of Directors ,
Cannabis-Related Businesses (CRBs) ,
Class Action ,
Crowdfunding ,
DE Supreme Court ,
Demand Futility ,
Derivative Suit ,
Dilution ,
Dismissals ,
Email ,
Enforcement Actions ,
Facebook ,
Failure To Disclose ,
FDA Approval ,
Investors ,
Mark Zuckerberg ,
Minority Shareholders ,
Misleading Statements ,
Omissions ,
Putative Class Actions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Unregistered Securities
SCOTUS Grants Certiorari to Decide Whether Automatic Discovery Stay Applies to Securities Act Cases in State Court; Delaware Court of Chancery Dismisses Stockholder Suit Against FedEx for Failure to Make Pre-Litigation...more
7/29/2021
/ Appeals ,
Automatic Stay ,
Board of Directors ,
Breach of Duty ,
Certiorari ,
Class Certification ,
Coronavirus/COVID-19 ,
DE Supreme Court ,
Derivative Suit ,
Discovery ,
Dismissal With Prejudice ,
Federal Rules of Civil Procedure ,
Fiduciary Duty ,
Investors ,
Misleading Statements ,
Misrepresentation ,
Motion to Dismiss ,
Popular ,
Private Securities Litigation Reform Act of 1995 ,
PSLRA ,
Remand ,
Reversal ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Standard of Review ,
State Courts ,
Stock Prices ,
Vacated
Federal Reserve Hints at Government-Backed Cryptocurrency; Third Circuit Affirms Dismissal of Securities Fraud Class Action Against Shutterfly Inc. Regarding Allegedly Misleading Financial Projections; Ninth Circuit Holds...more
6/4/2021
/ Cease and Desist Orders ,
Class Action ,
Corporations Code ,
Cryptocurrency ,
Digital Currency ,
Dismissal With Prejudice ,
Dismissals ,
Federal Reserve ,
Federal Rules of Civil Procedure ,
Investors ,
Judicial Notice ,
Loss Causation ,
Misleading Statements ,
Pleading Standards ,
Private Securities Litigation Reform Act of 1995 ,
Proxy Statements ,
Putative Class Actions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Shareholders ,
Shutterfly ,
Uber
Biogen Inc. Wins Some, Loses Some, In Delaware Chancery Court Corporate Records Suit; Southern District of Florida Dismisses Securities Fraud Class Action Against Norwegian Cruise Lines Stemming From Alleged Impacts of...more
4/23/2021
/ Anti-Kickback Statute ,
Banking Sector ,
Bitcoin ,
Books & Records ,
Class Action ,
Coronavirus/COVID-19 ,
Corporate Records ,
Criminal Prosecution ,
Cryptocurrency ,
Delaware General Corporation Law ,
Discovery ,
Dismissals ,
Duty to Correct ,
Duty to Disclose ,
Enforcement Actions ,
Ether ,
False Statements ,
Federal Prosecutors ,
Government Investigations ,
Investment Banks ,
Investors ,
Meeting Minutes ,
Misleading Statements ,
Motion to Compel ,
Policies and Procedures ,
PSLRA ,
Putative Class Actions ,
Scienter ,
Section 220 Request ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Violations ,
Stock Prices
In First Ever SEC Sanction for Allegedly Misleading COVID Related Disclosures, Cheesecake Factory Pays $125,000 Civil Penalty; New York State Appellate Court Dismisses Putative Securities Act Class Action on Merits for First...more
12/17/2020
/ Civil Monetary Penalty ,
Class Action ,
Consent Decrees ,
Coronavirus/COVID-19 ,
Dismissals ,
Form 8-K ,
Initial Public Offering (IPO) ,
Material Misstatements ,
Putative Class Actions ,
Sanctions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Violations ,
Summary Judgment ,
Unregistered Securities
In This Issue. In response to the ongoing global outbreak of the coronavirus (COVID-19), federal financial regulators continue to take aggressive actions to promote stability to the financial markets. The Board of Governors...more
3/27/2020
/ Banking Sector ,
Coronavirus/COVID-19 ,
Enforcement Actions ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Investment Companies ,
Investment Management ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC)
In This Issue. The Securities and Exchange Commission (SEC) adopted a rule permitting most exchange-traded funds that satisfy a set of standardized conditions to operate without the expense and delay of obtaining exemptive...more
In This Issue. The Securities and Exchange Commission (SEC): (i) adopted amendments clarifying auditor independence rules in light of lending relationships with shareholders of an audit client; (ii) adopted a set of new...more
Editor's Note -
In This Issue. The U.S. Securities and Exchange Commission’s (SEC) Division of Investment Management staff announced plans to seek industry input on custodial practices relating to trading that is not...more
3/21/2019
/ CFTC ,
Disclosure Requirements ,
FDCPA ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Investment Adviser ,
Investment Company Act of 1940 ,
Securities and Exchange Commission (SEC) ,
TCPA ,
UK Brexit