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Civil Procedure Securities Science, Computers & Technology

Read Civil Procedure updates, alerts, news, and legal analysis from leading lawyers and law firms:

Federal Judge Adopts CFTC Position That Cryptocurrencies Are Commodities

• A New York federal judge held that virtual currencies are commodities within the meaning of the Commodity Exchange Act. • This marks the first court decision to assess and to adopt the CFTC’s position that virtual...more

Yahoo Enters $80 Million Securities Class Action Settlement After Data Breach

by Carlton Fields on

On March 2, Yahoo, Inc. (“Yahoo”) filed a proposed settlement in In re Yahoo Inc. Securities Litigation, which was filed in U.S. District Court in San Francisco. ...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Journal dropped something of a bomb on Friday with news that Goldman Sachs’ CEO Lloyd Blankfein is heading out the door as soon as the end of the year. If true, Goldman will likely look for his replacement within its...more

Digital Health Report - Winter 2018

Machine Learning and Digital Health Applications - The use of artificial intelligence (AI) algorithms to solve complex problems has risen dramatically in the last several years. In 2017, Gartner identified more than 1,000...more

Recent Developments In Securities Class Actions And Companies' Disclosure Obligations Regarding Cybersecurity Risks And Events

by Carlton Fields on

Public companies experiencing data security incidents have been largely successful in defeating derivative actions and securities class actions related to those cyber incidents....more

Federal Judge Rules Virtual Currencies Are Commodities Under the Commodity Exchange Act

On March 6, 2018, Judge Jack B. Weinstein of the U.S. District Court for the Eastern District of New York ruled that virtual currencies are commodities under the Commodity Exchange Act (CEA) and therefore subject to the...more

Cryptocurrency Class Action Lawsuits: A New Frontier

by Polsinelli on

Cryptocurrencies, like Bitcoin and Ethereum, had a breakout year in 2017. The price of Bitcoin rose from approximately $1,000 per Bitcoin on January 1, 2017, to $13,000 per Bitcoin on December 31, 2017, with a high of...more

Compliance into the Weeds-Episode 73, Compliance Trouble in Dallas

by Thomas Fox on

In this episode, Matt Kelly and I explore the recent revelations of systemic sexual harassment and abuse present in the front office of the Dallas Mavericks. The allegations were not lodged against owner Mark Cuban but...more

Issuers of Tokens Beware: Class Action Lawsuits Are Coming

by Polsinelli on

Initial Coin Offerings, or ICOs, were an extremely popular way of raising capital in exchange for crypto tokens in 2017 and have led to class action litigation in 2017 and 2018. While ICOs have been around since 2013, they...more

Dechert survey: Developments in securities fraud class actions against U.S. life sciences companies

by Dechert LLP on

2017 was a record year for class action securities litigation, and life sciences companies continued to be popular targets of such lawsuits. During 2017, plaintiffs filed a total of 88 class action securities lawsuits against...more

Open Session of the U.S. Senate’s Committee on Banking, Housing and Urban Affairs Hears Joint Testimony from Heads of the SEC,...

by Perkins Coie on

On February 6, 2018, the United States Senate Committee on Banking, Housing and Urban Affairs conducted a hearing entitled “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S....more

District Court Stays Securities Class Action Involving Initial Coin Offering Pending Supreme Court Review

by Benesch on

On February 1, 2018, a federal district court in the Northern District of California stayed a putative class action involving the Tezos Initial Coin Offering (“ICO”) pending the United States Supreme Court’s decision in a...more

Securities Class Action Filings Reach Record High

As expected, securities class action filings reached a high-water mark in 2017. In fact, last year’s total of 400-plus filings was the second-highest on record, topped only by 2001, when the number was skewed by more than 300...more

Chris Lazarini Comments on Qualifiers of Control Person Liability under Exchange Act §20(a)

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini commented on a case involving alleged violations of federal and state securities laws and state common law in an alleged scheme to defraud customers and investors in several...more

Patenting the Blockchain

Last year’s spike in the valuation of bitcoin has much of the technology world focused on blockchain, the distributed database ledger technology behind bitcoin and many other cryptocurrencies. Lost behind the scenes,...more

The SEC and Plaintiffs’ Class Action Attorneys Are Targeting Initial Coin Offerings

by Fenwick & West LLP on

Issuers and other professionals participating in Initial Coin Offerings — widely known as ICOs — are facing the increasing threat of both U.S. Securities Exchange Commission enforcement actions and private class action suits...more

Western District Of Washington Dismisses Securities Fraud Class Action With Leave To Amend, Finding Plaintiff Failed To Adequately...

by Shearman & Sterling LLP on

On October 18, 2017, Judge Ricardo S. Martinez of the United States District Court for the Western District of Washington dismissed with leave to amend a consolidated amended complaint asserting violations of Sections 10(b)...more

Standing Only Gets You So Far. Scottrade Offers Tactics To Win The Data Breach Class Action War

by Orrick - Trust Anchor on

A recent skirmish about standing in data breach class actions (this time in the Eighth Circuit), involving securities and brokerage firm Scottrade, suggests that, even if plaintiffs win that limited question, there are other...more

Fintech Week in Review – October 2017

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Third Circuit Affirms Dismissal of Plaintiffs’ Challenge to Risk Factors and Earnings Projections, in Williams v. Globus Medical,...

A recent Third Circuit opinion demonstrates the high bar that plaintiffs face when attempting to plead the falsity of two categories of statements: (1) risk factors alleged to be misleading because the warned-of risk had...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The White House announced its intention yesterday to blocked a China-backed investor from buying American semiconductor maker Lattice over national security concerns. The “rare move” could “signal more aggressive scrutiny of...more

8th Circuit Finds Standing in Data Breach Case but Dismisses on Pleading Deficiencies

In one of the first federal appellate court rulings following the Ninth Circuit’s decision in Robins v. Spokeo, the Eighth Circuit delivered a pyrrhic victory for customers victimized by a data breach....more

Eighth Circuit Finds Standing in Data Breach Case for Privacy Policy Violation, Dismisses for Lack of Specificity

by Fenwick & West LLP on

The U.S. Court of Appeals for the Eighth Circuit has held that allegations that the security provisions of a privacy policy were violated are sufficient for standing in a data breach case, but that plaintiffs’ contractual...more

Northern District Of California Denies Motion To Dismiss, Holding That Allegations Supported Inference That Statements Regarding...

by Shearman & Sterling LLP on

On July 26, 2017, Judge Claudia Wilken of the United States District Court for the Northern District of California denied a motion to dismiss a putative securities class action alleging that GoPro, Inc. (“GoPro”), its CEO,...more

Using “Finders” to Find Capital: Avoiding Problems for Your Company

by Varnum LLP on

Raising money for your startup can be hard. Not every entrepreneur can walk into Silicon Valley with a business idea and walk out with multiple VC term sheets in hand. Sometimes the only path to financing your startup is...more

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