Author Info for Mintz - Securities Litigation Viewpoints

David Adams

Judge Rakoff puts the Ripple Party on Ice as the Crypto Community and SEC Ponder their Next Moves

Just barely two weeks ago, we wrote about the half-victory for Ripple Labs in its ongoing litigation with the Securities and Exchange Commission (“SEC”), in which Judge Analisa Torres granted partial summary judgment in favor of…more

Cryptoassets, Cryptocurrency, Digital Assets, Howey, Investment Contract

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Douglas Baumstein

The Supreme Court Solidifies the Securities Act’s Tracing Requirement For Section 11 Plaintiffs

Last week, the U.S. Supreme Court solidified the “tracing” requirement for private plaintiffs to be able to assert Section 11 claims pursuant to the Securities Act of 1933, holding that plaintiffs asserting such securities fraud…more

Fraud, Initial Public Offering (IPO), Misleading Statements, SCOTUS, Section 11

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Jason Burrell

Massachusetts Securities Division Rolls Out Final Version of Fiduciary Duty Rule

The Massachusetts Securities Division (the “Division”) has announced that they will begin to apply a fiduciary conduct standard to broker-dealers and agents when dealing with their customers. Once adopted, the Division has…more

Broker-Dealer, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Regulation Best Interest, Securities Litigation

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Thomas Burton, III

SEC Discloses Its Recommendations on Key Issues for Private Companies Weighing SPAC Transactions

On March 31, the Securities and Exchange Commission’s Division of Corporation Finance published a staff statement which outlines accounting, financial reporting, and governance issues that private companies should consider…more

Books & Records, Corporate Governance, Disclosure Requirements, Financial Statements, Privately Held Corporations

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Kaitlyn Anne Crowe

Lessons from Disney: The Exercise of the Corporate Voice is Protected Business Decision

In the ever-changing and divisive political climate facing our nation today, boards of directors and the companies they oversee face myriad pressures from numerous stakeholders to weigh in on specific political, cultural, and…more

Books & Records, Corporate Counsel, Disney, Environmental Social & Governance (ESG), Florida

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Edmund Daley

Judge Rakoff puts the Ripple Party on Ice as the Crypto Community and SEC Ponder their Next Moves

Just barely two weeks ago, we wrote about the half-victory for Ripple Labs in its ongoing litigation with the Securities and Exchange Commission (“SEC”), in which Judge Analisa Torres granted partial summary judgment in favor of…more

Cryptoassets, Cryptocurrency, Digital Assets, Howey, Investment Contract

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Cory Flashner

Judge Rakoff puts the Ripple Party on Ice as the Crypto Community and SEC Ponder their Next Moves

Just barely two weeks ago, we wrote about the half-victory for Ripple Labs in its ongoing litigation with the Securities and Exchange Commission (“SEC”), in which Judge Analisa Torres granted partial summary judgment in favor of…more

Cryptoassets, Cryptocurrency, Digital Assets, Howey, Investment Contract

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Matthew Levitt

Supreme Court in Jarkesy Limits the SEC’s Powers to Use In-House Administrative Courts

On June 27, the Supreme Court issued its decision in the closely-watched SEC v. Jarkesy, holding that the SEC could no longer seek civil monetary penalties for fraud in its in-house courts consistent with the Seventh Amendment,…more

Administrative Law Judge (ALJ), Article III, CFTC, Civil Monetary Penalty, Consumer Financial Protection Bureau (CFPB)

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Alain Mathieu

Tenth Circuit Affirms Extraterritorial Reach of SEC Enforcement of the Federal Securities Laws

In the Traffic Monsoon litigation, the U.S. Court of Appeals for the Tenth Circuit held that the enforcement provisions of the Securities Act and the Exchange Act reach Traffic Monsoon’s sales to customers outside of the United…more

Cross-Border Transactions, Dodd-Frank, Enforcement Actions, Extraterritoriality Rules, Morrison v National Australia Bank

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Patrick McDonough

Supreme Court in Jarkesy Limits the SEC’s Powers to Use In-House Administrative Courts

On June 27, the Supreme Court issued its decision in the closely-watched SEC v. Jarkesy, holding that the SEC could no longer seek civil monetary penalties for fraud in its in-house courts consistent with the Seventh Amendment,…more

Administrative Law Judge (ALJ), Article III, CFTC, Civil Monetary Penalty, Consumer Financial Protection Bureau (CFPB)

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Will McKitterick

“We lost. Sorry everyone”: The Implications of a District Court Finding Digital Token, LBC, Is a Security

Crypto litigation, fueled by a surge of investors and market volatility, has ballooned in recent years. For example, numerous securities class actions and government subpoenas followed the May 2022 collapse of the $60 billion…more

CFTC, Class Action, Cryptocurrency, Department of Justice (DOJ), Enforcement Actions

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Aaron Megar

Second Circuit Clarifies the Circumstances in Which Presumptions Can Be Used To Support Federal Securities Fraud Class Action Lawsuits

On August 10, 2023, the U.S. Court of Appeals for the Second Circuit took an important step in Arkansas Teacher Retirement System v. Goldman Sachs Group toward clarifying the circumstances in which federal class action…more

Appeals, Basic v Levinson, Class Action, Class Certification, False Statements

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Pete Michaels

Massachusetts Securities Division Begins Enforcement Of New State Fiduciary Conduct Standard

On September 1, 2020, the Massachusetts Securities Division (“MSD”) began enforcing a new state regulation that holds all broker-dealers and their agents to a fiduciary conduct standard requiring them to “make recommendations…more

Broker-Dealer, Enforcement Actions, Fiduciary Duty, Investment Adviser, Investment Firms

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Kevin Mortimer

Teva Putative Federal Securities Class Member Seeks to Toll Statute of Repose with Motion to Intervene

The United States District Court of the District of Connecticut will soon decide whether a putative class member may intervene “for the limited purpose of tolling the statute of repose.” Statutes of repose place an outer limit…more

Amended Complaints, Class Action, Federal Rules of Civil Procedure, Motion To Intervene, Price-Fixing

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Sofia Nuño

“We lost. Sorry everyone”: The Implications of a District Court Finding Digital Token, LBC, Is a Security

Crypto litigation, fueled by a surge of investors and market volatility, has ballooned in recent years. For example, numerous securities class actions and government subpoenas followed the May 2022 collapse of the $60 billion…more

CFTC, Class Action, Cryptocurrency, Department of Justice (DOJ), Enforcement Actions

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Michael Pastore

Massachusetts Securities Division Begins Enforcement Of New State Fiduciary Conduct Standard

On September 1, 2020, the Massachusetts Securities Division (“MSD”) began enforcing a new state regulation that holds all broker-dealers and their agents to a fiduciary conduct standard requiring them to “make recommendations…more

Broker-Dealer, Enforcement Actions, Fiduciary Duty, Investment Adviser, Investment Firms

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Joel Rothman

Second Circuit Summarily Affirms the Attorneys’ Fees Award in the Foreign Exchange Antitrust Settlement after District Court Rejects Class Counsel’s Side Deal with the Objector

On November 1, 2019, the United States Court of Appeals for the Second Circuit issued a summary order rejecting the appeal of an objector to the Foreign Exchange Antitrust Settlement. A few weeks earlier, U.S. District Court…more

Abuse of Discretion, Antitrust Litigation, Attorney's Fees, Class Action, Foreign Exchanges

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Peter Saparoff

Petition for Certiorari Asks Supreme Court to Clarify Whether the Federal Securities Laws Carry a Duty to Update

Last week, executives of the now-defunct biotechnology company, Orexigen, filed a petition for certiorari with the U.S. Supreme Court, seeking clarification of the duty to update under the federal securities laws. The petition…more

Appeals, Duty to Update, Incorporation by Reference, Petition for Writ of Certiorari, Securities Exchange Act

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Ellen Shapiro

The Supreme Court Solidifies the Securities Act’s Tracing Requirement For Section 11 Plaintiffs

Last week, the U.S. Supreme Court solidified the “tracing” requirement for private plaintiffs to be able to assert Section 11 claims pursuant to the Securities Act of 1933, holding that plaintiffs asserting such securities fraud…more

Fraud, Initial Public Offering (IPO), Misleading Statements, SCOTUS, Section 11

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Adam Sisitsky

District Courts Will Hear Constitutional Challenges to SEC and FTC Admin Courts

Last week, the U.S. Supreme Court paved a path for petitioners to assert constitutional challenges to the structure of U.S. Securities and Exchange Commission (“SEC”) and U.S. Federal Trade Commission (“FTC”) administrative…more

Constitutional Challenges, Federal Trade Commission (FTC), FTC Act, PCAOB, Petition for Writ of Certiorari

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Sahir Surmeli

SEC Discloses Its Recommendations on Key Issues for Private Companies Weighing SPAC Transactions

On March 31, the Securities and Exchange Commission’s Division of Corporation Finance published a staff statement which outlines accounting, financial reporting, and governance issues that private companies should consider…more

Books & Records, Corporate Governance, Disclosure Requirements, Financial Statements, Privately Held Corporations

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John Sylvia

Court Issues Highly-Anticipated Decision Regarding the Treatment of SPAC Sponsors and Directors

In a long-anticipated decision, the Delaware Court of Chancery answered several pending questions regarding the treatment of special purpose acquisition company (“SPAC”) sponsors and directors under Delaware corporate law. In In…more

Corporate Counsel, Due Diligence, Fiduciary Duty, Private Investment in Public Equity (PIPEs), Shareholders

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Jason Vigna

Second Circuit Clarifies the Circumstances in Which Presumptions Can Be Used To Support Federal Securities Fraud Class Action Lawsuits

On August 10, 2023, the U.S. Court of Appeals for the Second Circuit took an important step in Arkansas Teacher Retirement System v. Goldman Sachs Group toward clarifying the circumstances in which federal class action…more

Appeals, Basic v Levinson, Class Action, Class Certification, False Statements

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Xandy Walsh

SEC Adopts New Incentive-Based Compensation "Clawback" Rule

On October 26, 2022, the Securities and Exchange Commission, in a 3-2 vote, adopted a new rule, Exchange Act Rule 10D-1. Rule 10D-1 directs national securities exchanges adopt listing standards to require all issuers establish…more

Clawbacks, Dodd-Frank, Enforcement Actions, Executive Compensation, Financial Statements

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David Ward

Massachusetts Securities Division Begins Enforcement Of New State Fiduciary Conduct Standard

On September 1, 2020, the Massachusetts Securities Division (“MSD”) began enforcing a new state regulation that holds all broker-dealers and their agents to a fiduciary conduct standard requiring them to “make recommendations…more

Broker-Dealer, Enforcement Actions, Fiduciary Duty, Investment Adviser, Investment Firms

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Mintz - Securities Litigation Viewpoints

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