News & Analysis as of

Broker-Dealer Rule 10(b)

King & Spalding

SEC Chairman Calls for Legal Bulletin on EMMA Disclosures

King & Spalding on

Is information posted on EMMA subject to greater scrutiny under the antifraud provisions of the federal securities laws than when posted only on an issuer’s website?...more

A&O Shearman

New York Federal Court Dismisses Charter School’s Section 10(b) Claims For Lack Of Standing, Rejecting Plaintiff’s Constructive...

A&O Shearman on

On April 10, 2019, Judge Loretta A. Preska of the United States District Court for the Southern District of New York dismissed an action asserting violations of Section 10(b) of the Securities and Exchange Act of 1934 and...more

Alston & Bird

Lorenzo v. SEC: Supreme Court to Revisit Who Is a “Maker” of False Statements Under the Federal Securities Laws

Alston & Bird on

Our Securities Litigation Group discusses the Lorenzo v. SEC appeal pending before the U.S. Supreme Court, which will be argued on December 3, 2018, and describes the impact the appeal could have on securities fraud claims...more

Bass, Berry & Sims PLC

Chris Lazarini Analyzes Link Between Alleged Fraud and Economic Harm to Shareholders

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which a group of shareholders claimed misleading statements in a press release caused them to sell stock early and lose money in a subsequent bidding war. The...more

Broker-Dealer Compliance + Regulation

Former New York Pension Official and Two Broker-Dealers Charged In Pay-To-Play Scheme

On December 21, 2016, the SEC charged the former Director of Fixed Income for the New York State Common Retirement Fund (the “NYSCRF”) with allegedly steering billions of dollars of NYSCRF assets to two broker-dealers in...more

Allen Matkins

Is Rule 10b-5 The “Mother Of All Litotes”?

Allen Matkins on

Yesterday’s post addressed the use of litotes in California’s broker-dealer suitability rule. Litotes can be an effective rhetorical device, but as Judge Frank H. Easterbrook observed, it is also ambiguous. Associated...more

Morrison & Foerster LLP - JOBS Act

Unlawful Crowdfunding? — SEC Institutes Public Administrative and Cease-and-Desist Proceeding Against Unregistered Broker-Dealer

In a proceeding on September 28th, the SEC ordered a public hearing to be held before an Administrative Law Judge within the next two months. Further, the SEC ordered the Respondent and two companies under his control, to...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume IX, Issue 24

In this issue: - Commissioner Kara M. Stein Calls for More Stringent Net Capital Requirements for Broker Dealers - US Marshals Service Announces Auction of Silk Road Bitcoins - Investment Adviser Accused...more

Dorsey & Whitney LLP

SEC, DOJ Charge Brokers With Defrauding Clients

Dorsey & Whitney LLP on

The Commission brought charges against three subsidiaries of ConvergEx Group, LLC, and two employees of subsidiaries, based on a scheme to defraud brokerage customers by charging excessive fees. In the Matter of G-Trade...more

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