News & Analysis as of

Corporate Counsel Securities Exchange Act of 1934

Morgan Lewis

Delaware Court of Chancery Agrees with SLC, Dismisses $1 Billion Suit Against Carvana

Morgan Lewis on

In the case of Carvana Co. Stockholders Litigation, the Delaware Court of Chancery followed the special litigation committee’s (SLC’s) recommendation and dismissed a stockholder complaint alleging that the company’s...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for February 2024

Each month we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s expanded definition of securities dealers; - •An...more

Seward & Kissel LLP

Employment Law Alert: Recent SEC Fines for Failure to Provide Whistleblower Protections

Seward & Kissel LLP on

Rule 21F-17 of the Securities Exchange Act of 1934 (“Rule 21F-17”), adopted under Dodd-Frank, prohibits employers from “tak[ing] any action to impede an individual from communication directly with [SEC staff] about a possible...more

Davis Wright Tremaine LLP

Delaware's New Personal Data Privacy Act

The Delaware Personal Data Privacy Act (DPDPA or Act) became law on September 11, 2023, making Delaware the 13th state to enact a comprehensive consumer data privacy law, joining California, Virginia, Colorado, Connecticut,...more

A&O Shearman

Brazilian Mining Company To Pay $55.9 Million To Settle SEC Charges Of Misleading ESG Disclosures

A&O Shearman on

On March 28, 2023, the Securities and Exchange Commission (“SEC”) submitted a settlement agreement (“settlement”) to the United States District Court of the Eastern District of New York with Brazilian mining company Vale S.A....more

Dechert LLP

Cryptocurrency Securities Class Action Litigation 2022 Year Review

Dechert LLP on

The 2022 decline in the cryptocurrency and digital assets market resulted in a year with more crypto securities class action litigation than any previous year. This article explores the 2022 crypto securities class action...more

Sullivan & Worcester

SEC Adopts Amendments to Modernize Rule 10b5-1 Insider Trading Plans and Related Disclosures - Update

Sullivan & Worcester on

On December 13, 2022, the Securities and Exchange Commission unanimously adopted amendments to Rule 10b5-1, imposing new limitations on the ability of insiders to utilize so-called “10b5-1 plans.” 10b5-1 plans are plans to...more

Fenwick & West LLP

SEC Adopts Rule Amendments to Provide Enhanced Disclosure of Rule 10b5-1 Plans and Insider Trading

Fenwick & West LLP on

On December 14, 2022, the U.S. Securities and Exchange Commission adopted amendments to Rule 10b5-1 under the Securities Exchange Act of 1934 (Exchange Act) and new disclosure requirements designed to enhance investor...more

Fenwick & West LLP

SEC Issues Guidance on Accounting for Safeguarding Crypto Assets

Fenwick & West LLP on

In light of an increasing number of companies that give platform users the ability to transact in crypto assets and provide a service to safeguard such assets, the staff of the Securities and Exchange Commission issued Staff...more

A&O Shearman

Seventh Circuit Rules Aerospace Company Cannot Use Bylaws To Avoid Federal Securities Claims

A&O Shearman on

On January 7, 2022, a split panel of the United States Court of Appeals for the Seventh Circuit reversed the dismissal of claims under Section 14(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) against the...more

A&O Shearman

Central District Of California Denies Certification Of Proposed Class Of Unsponsored ADR Purchasers For Lack Of Typicality

A&O Shearman on

On January 7, 2022, Judge Dean D. Pregerson of the U.S. District Court for the Central District of California denied plaintiffs’ motion for class certification in a putative class action against a Japanese manufacturer of...more

Jones Day

Fifth Circuit Holds District Court Has Jurisdiction to Hear Constitutional Challenge to SEC Administrative Law Judges

Jones Day on

The Fifth Circuit's opinion creates a circuit split that raises the possibility of a Supreme Court review. On December 13, 2021, the Fifth Circuit issued an en banc opinion in Cochran v. U.S. Securities & Exchange...more

A&O Shearman

Northern District Of Illinois Eastern Division Grants In Part Drugstore Chain’s Motion For Summary Judgment In Connection With...

A&O Shearman on

On November 2, 2021, Judge Sharon Johnson Coleman of the Northern District of Illinois Eastern Division granted in part defendants’ motion for summary judgment and denied plaintiff’s partial motion for summary judgment in a...more

BakerHostetler

New SEC Chair Proposes Limiting Rule 10b5-1 Trading Plans, Citing ‘Real Cracks' in SEC Insider Trading Enforcement

BakerHostetler on

The U.S. Securities and Exchange Commission (“SEC”) is considering greatly limiting the affirmative defense that protects corporate executives against SEC prosecutions for insider trading claims when they buy or sell their...more

Buchalter

When Can Companies Recoup Advancement of Executives’ Criminal Defense Costs? A Recent Decision Highlights Some Limits

Buchalter on

When corporate executives are charged with crimes, their companies often foot the bill for their defenses. Sometimes those bills can be hefty. And while companies sometimes seek to recoup the expenses when the executives are...more

Goodwin

Eighth Circuit Overturns Class Certification in Suit Against TD Ameritrade Holding Corp., Holding Individualized Evidence Is...

Goodwin on

Eighth Circuit Overturns Class Certification in Suit Against TD Ameritrade Holding Corp., Holding Individualized Evidence is Required for Each Putative Class Member; District Judge Approves Magistrate’s Recommendation to Deny...more

SECIL Law

A Cautionary Tale for Executives: Clever Omissions Can Equal Fraud

SECIL Law on

An appellate court upheld a judgment that clever omissions from statements made by a corporate officer constituted securities fraud. On January 22, 2021, the U.S. Court of Appeals for the First Circuit in Boston,...more

Pillsbury Winthrop Shaw Pittman LLP

The SPAC Explosion: Beware the Litigation and Enforcement Risk

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

18 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide