Throughout a tumultuous 2022, the digital currency and blockchain space saw a number of significant investigation, litigation, and enforcement matters as regulators continue their laser focus on the industry. This Year in...more
2/14/2023
/ Bankruptcy Court ,
Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Insider Trading ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Stablecoins ,
Unregistered Securities
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
IN THIS ISSUE -
Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more
3/9/2022
/ Appeals ,
Attorney's Fees ,
Banking Sector ,
Blockchain ,
Breach of Duty ,
Cannabis-Related Businesses (CRBs) ,
Civil Conspiracy ,
Class Action ,
Cryptocurrency ,
Department of Financial Services ,
Derivative Suit ,
Dismissals ,
Economic Sanctions ,
Enforcement Actions ,
Fannie Mae ,
Fiduciary Duty ,
Financial Services Industry ,
Freddie Mac ,
Investors ,
Mergers ,
Mootness Fee Applications ,
Ponzi Scheme ,
Popular ,
Reversal ,
Russia ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Litigation ,
Shareholder Litigation ,
Shareholders ,
Supplemental Disclosures ,
Tortious Interference ,
Virtual Currency
The U.S. Securities & Exchange Commission (“SEC”) filed a complaint against Ripple Labs, Inc. (“Ripple”) and two of its executives, Brad Garlinghouse and Chris Larsen, on December 22, 2020 in the U.S. District Court for the...more
1/26/2021
/ Blockchain ,
Corporate Executives ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Popular ,
Ripple ,
Section 5 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Unregistered Securities
In 2018, Telegram - which was formed in 2013 and quickly became known for its Telegram Messenger app - sold $1.7 billion worth of Grams to 175 entities and high net-worth individuals (the “Initial Purchasers”). Telegram and...more
Meghan Spillane is a partner in Goodwin’s Securities Litigation and White Collar Defense group, and a member of its Digital Currency + Blockchain Technology practice. She specializes in advising companies on regulations...more
The Securities and Exchange Commission (SEC) finally provided some good news, and guidance, regarding permissible token sales. On June 14, 2018, William Hinman, Director of the SEC Division of Corporation Finance, speaking at...more
On December 11, 2017, the U.S. Securities and Exchange Commission (SEC) issued a cease-and-desist order to Munchee Inc. (Munchee), a company that was in the process of a $15 million initial coin offering (ICO), for selling...more