A company cannot be sued by private parties under Rule 10b-5(b) for a “pure omission” but can be liable for omissions that render other statements misleading.
“Pure omissions” cannot be attacked in private 10b-5(b)...more
4/24/2024
/ Disclosure ,
Disclosure Requirements ,
Item 303 ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Misleading Statements ,
Omissions ,
Regulation S-K ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Violations
Some cases have limited California’s statutory right to withdraw from arbitration based on late fee payments, but many others have enforced this strict rule, making timely payment of arbitration fees and carefully worded...more
On the heels of record-breaking enforcement in 2022, expect continued aggressive pursuit of Chair Gensler’s priorities in 2023.
The SEC will continue to bring its considerable resources to bear to address ESG-related...more
1/30/2023
/ Audits ,
Broker-Dealer ,
Compliance ,
Consumer Protection Act ,
Corporate Counsel ,
Cryptocurrency ,
Cybersecurity ,
Digital Assets ,
Dodd-Frank ,
Enforcement ,
Environmental Social & Governance (ESG) ,
Individual Accountability ,
Insider Trading ,
Investment Adviser ,
Private Funds ,
Proposed Rules ,
Securities ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs) ,
Whistleblowers ,
Willful Misconduct
Businesses offering subscription services or other automatically renewing agreements to California consumers must adhere to new notice and cancellation requirements or face the risk of significant liability.
Businesses...more
Chair Gensler’s enforcement agenda begins to take shape as SEC brings sprawling enforcement action against wide range of SPAC participants.
Consistent with prior SEC warnings regarding incentives for Special Purpose...more
7/16/2021
/ Airspace ,
CFIUS ,
Disclosure Requirements ,
Due Diligence ,
Enforcement Actions ,
False Statements ,
Financial Industry Regulatory Authority (FINRA) ,
Initial Public Offering (IPO) ,
Insider Trading ,
Internal Controls ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934
SPACs have seen exponential growth in 2020, but SPAC sponsors, investors and targets should beware the scrutiny de-SPAC transactions are receiving from the plaintiffs’ bar and the SEC.
2020’s SPAC IPO explosion will...more
12/16/2020
/ Corporate Counsel ,
D&O Insurance ,
Enforcement Actions ,
Financial Institutions ,
Initial Public Offering (IPO) ,
Private Securities Litigation Reform Act of 1995 ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Exchange Act of 1934 ,
Special Purpose Acquisition Companies (SPACs)
In Ixchel Pharma, LLC v. Biogen, Inc., the court addresses “an important question of California law, potentially affecting all contracts in California that in some way restrain a contracting party from engaging in a...more
As COVID-19 fuels technological adoption and adaptation in all walks of life, the CCPA and New York SHIELD Act are front and center in the minds of both government enforcers and the private plaintiffs’ bar.
The increased...more
One month into the declaration of a national emergency, the flood of coronavirus-related consumer class action litigation can be grouped into several distinct categories.
Consumer class action suits to date have primarily...more
4/17/2020
/ Burden of Proof ,
Buyers ,
California ,
Class Action ,
Collective Actions ,
Consumer Protection Laws ,
Coronavirus/COVID-19 ,
Distributors ,
Fees ,
Florida ,
Litigation Fees & Costs ,
Negligence ,
New York ,
Product Recalls ,
Refunds ,
Remedies