Synopsis: On January 6, 2020, Andrew Smith, director of the Federal Trade Commission’s Bureau of Consumer Protection, outlined in a blog post the agency’s new approach to data security orders. The agency implemented this...more
1/13/2020
/ C-Suite Executives ,
Corporate Counsel ,
Corporate Governance ,
Cyber Attacks ,
Cybersecurity ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
Hackers ,
LabMD ,
Personally Identifiable Information ,
Third-Party
Synopsis: On December 6, 2019, the Federal Trade Commission issued a unanimous ruling against political data firm Cambridge Analytica for violating Section 5 of the FTC Act by misrepresenting that it would not download...more
12/20/2019
/ Cambridge Analytica ,
Consumer Privacy Rights ,
Data Breach ,
Data Collection ,
Enforcement Actions ,
EU ,
EU-US Privacy Shield ,
Facebook ,
FTC Act ,
Penalties ,
Personal Data ,
Political Campaigns ,
Popular ,
Section 5
The Federal Trade Commission recently published a preliminary staff report on two studies it conducted to understand the effectiveness of class action settlement notices and develop information to help improve consumer...more
On October 8, 2019, five federal agencies jointly announced that they had finalized revisions designed to simplify compliance with the Volcker Rule regulations implementing Section 13 of the Bank Holding Company Act. The...more
10/16/2019
/ Bank Holding Company Act ,
Common Ownership ,
Cooperative Compliance Regime ,
Financial Instruments ,
Financial Regulatory Reform ,
Hedge Funds ,
Private Equity Funds ,
Proprietary Trading ,
Regulatory Agenda ,
Trading Policies ,
Volcker Rule
Seyfarth Synopsis: Following Delaware’s lead in Trulia, an Illinois District Court judge refused to approve a mootness fee settlement as “worthless to the shareholders.” The judge noted that such settlements amounted to a...more
One of the latest efforts by a municipality to address public health concerns by requiring warnings on certain products may be revived depending on the outcome of a recent rehearing before an 11-judge en banc panel of the...more
Seyfarth Synopsis: The Delaware Chancery Court issued a decision Monday in a long-running appraisal dispute following Solera Holdings Inc.’s $6.5 billion sale to Vista Equity Partners LP in 2015 that rejected investors’ bid...more
A federal judge recently held that a plaintiff cannot state a claim for false advertising under Illinois law by cherry picking statements in isolation if, on the whole, the information available to plaintiff dispelled the...more
Seyfarth Synopsis: In a much-awaited decision on which courts and counsel have reached different conclusions for years, the United States Supreme Court held on March 20, 2018 that the Securities Litigation Uniform Standards...more
3/22/2018
/ Class Action ,
Cyan Inc v Beaver Cty Emps Ret Fund ,
Jurisdiction ,
PSLRA ,
Removal ,
SCOTUS ,
Securities Act of 1933 ,
Securities Litigation ,
Securities Violations ,
SLUSA ,
State Law Claims
Seyfarth Synopsis: The Delaware Supreme Court issued its much-anticipated unanimous decision last Thursday in the “long-running appraisal saga” that took place following the 2013 management-led buyout of Dell. In reversing...more
Seyfarth Synopsis: On February 2, 2017, the Appellate Division for the First Department in New York entered an order approving a “disclosure-only” settlement. While acknowledging the “increasingly negative view” of...more
3/2/2017
/ Appeals ,
Board of Directors ,
Breach of Duty ,
Class Action ,
Corporate Governance ,
Derivative Suit ,
Disclosure-Based Settlements ,
Fiduciary Duty ,
Mergers ,
Reversal ,
Shareholder Rights ,
Venue ,
Verizon
Seyfarth Synopsis: A Delaware Chancery Court judge last week dismissed a derivative complaint seeking to recover a $10 million severance payment made to a corporation’s former CEO because he found that plaintiff shareholder...more
Seyfarth Synopsis: The Delaware Supreme Court recently reversed the dismissal of a derivative complaint for failure to plead demand excusal because it found that certain directors of Zynga Inc. were not independent due to...more
12/29/2016
/ Board of Directors ,
Breach of Duty ,
Corporate Counsel ,
DE Supreme Court ,
Demand Futility ,
Derivative Suit ,
Dismissals ,
Fiduciary Duty ,
Independent Directors ,
Nasdaq ,
Pleading Standards ,
Reversal ,
Shareholder Litigation
Seyfarth Synopsis: On November 30, 2016, The Delaware Court of Chancery dismissed two derivative suits filed on behalf of the Bank of New York Mellon (“BNYM”). The companion memorandum and letter opinions reaffirm the heavy...more
12/8/2016
/ Bad Faith ,
Bank of New York (BNY) Mellon ,
Board of Directors ,
Breach of Duty ,
Burden of Proof ,
Corporate Counsel ,
Corporate Executives ,
Demand Futility ,
Derivative Suit ,
Dismissals ,
Fiduciary Duty ,
Foreign Exchanges ,
Pleading Standards ,
Shareholder Litigation ,
Special Committees