On September 9, 2024, the Hon. William Orrick of the District of Northern California imposed the maximum penalty sought by the Securities and Exchange Commission (“SEC”) against Defendant Matthew Panuwat—a civil fine of three...more
On May 29, 2024, the Securities and Exchange Commission filed a motion for final judgment, seeking to impose civil penalties in its first enforcement action brought on the theory of “shadow trading.”...more
In November 2023, in Issue Lines Drawn in SEC Shadow Trading Case, we revisited the case Securities and Exchange Commission v. Panuwat, the SEC’s first enforcement action brought on the theory of “shadow trading.”...more
In February 2022, in SEC Shadow Trading Case Breaks Ground, we discussed Securities and Exchange Commission v. Panuwat, the SEC’s first enforcement action brought on the theory of “shadow trading.”...more
On February 22, 2023, a judge in the Southern District of New York ruled that a class action lawsuit may proceed alleging that Dapper Labs, Inc. violated federal securities laws when it issued of a series of non-fungible...more
Each year, the U.S. Securities and Exchange Commission (SEC) publishes its enforcement priorities – a reminder that, although the Division of Examinations (EXAMS) remains committed to monitoring compliance with (and...more
7/25/2022
/ Disclosure Requirements ,
Enforcement Actions ,
Fraud ,
Investigations ,
NVIDIA ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Settlement ,
Theranos
A California Court recently allowed the Securities and Exchange Commission (the “SEC” or “Commission”) to proceed with its first insider trading prosecution based on a theory of “shadow trading.” On January 14, 2022, Judge...more
2/11/2022
/ Confidential Information ,
Due Process ,
Enforcement Actions ,
Insider Trading ,
Material Nonpublic Information ,
Materiality ,
Misappropriation ,
Rule 10b-5 ,
Scienter ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Violations