News & Analysis as of

Department of Justice (DOJ) Fiduciary Duty

Pillsbury Winthrop Shaw Pittman LLP

Developments in Association Law 2022 – 2024

The following is a review of notable cases and regulatory developments for nonprofit organizations at the federal and state levels during the last two years....more

Dorsey & Whitney LLP

Healthcare Fraud: A World Beyond the Anti-Kickback Statute

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Americans spend more than $3 trillion per-year on healthcare-related expenses. Of that, the National Health Care Anti-Fraud Association estimates that between $60-250 billion is lost to fraud every year....more

Health Care Compliance Association (HCCA)

[Event] Regional Compliance & Ethics Conference - February 22nd - 23rd, Anchorage, AK

Looking for compliance education and networking in your area? SCCE & HCCA’s Regional Compliance & Ethics Conferences bring compliance practitioners from all disciplines together for convenient, local compliance education....more

Society of Corporate Compliance and Ethics...

[Event] Regional Compliance & Ethics Conference - February 22nd - 23rd, Anchorage, AK

Looking for compliance education and networking in your area? SCCE & HCCA’s Regional Compliance & Ethics Conferences bring compliance practitioners from all disciplines together for convenient, local compliance education....more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Fall 2023

Boards routinely confront an array of difficult issues. In this issue of The Informed Board, we tackle four of the thorniest and most topical: - How to preserve the integrity of a deal process where a key fiduciary (say,...more

Polsinelli

Former OpenSea Employee Charged with Wire Fraud and Money Laundering in First Ever “Digital Asset Insider Trading” Scheme

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A former employee of OpenSea, the largest marketplace for the purchase and sale of non-fungible tokens (NFTs), has been indicted and charged with wire fraud and money laundering allegedly in connection with actions he took...more

Wiley Rein LLP

SEC Enforcement Related to ESG Investing Likely to Increase in 2022

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In March 2021, the U.S. Securities and Exchange Commission (SEC) created a Climate and Environmental, Social, and Governance (ESG) Task Force (ESG Task Force) within the Division of Enforcement, the purpose of which is to...more

The Volkov Law Group

The Delaware Court’s Decision Highlights Boeing’s Defective Corporate Culture and Board Governance Failures (Part II of IV)

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When considered in light of the Chancery Court’s decision, DOJ’s essential findings in its Boeing investigation are problematic at best.  The Chancery Court’s decision outlines how Boeing’s culture of safety deteriorated into...more

Goodwin

Delaware Court of Chancery Dismisses Marriott Data Breach Derivative Suit

Goodwin on

Delaware Court of Chancery Dismisses Marriott Data Breach Derivative Suit; DOJ Announces Creation of National Cryptocurrency Enforcement Team; Fifth Circuit Applies New Standard for Disgorgement Orders In Securities Cases to...more

Faegre Drinker Biddle & Reath LLP

Recent Uptick in Financial Fraud Claims Can Be Contended Through Classic Defense

The COVID-19 outbreak brought much uncertainty and vulnerability, due in no small part to the uptick in financial fraud. Since May of 2020, it has been reported that the Department of Justice has charged over 600 defendants...more

Goodwin

SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence

Goodwin on

SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence; Stockholders Strike $110 Million Settlement In Suit Alleging Breaches Of Fiduciary Duties By Former...more

Proskauer - The Capital Commitment

Three Key Considerations for Fund Sponsors when Participating in Bankruptcy Proceedings

We anticipate a more assertive regulatory enforcement program under the Biden administration, particularly focused on fund managers’ conflicts of interest, advisers’ codes of ethics, and related policies and procedures...more

Foley & Lardner LLP

The Board's Role in Corporate Compliance is Changing - Fast

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Key Takeaways from Foley's National Directors Institute Conference Panel - When it comes to a corporate board’s oversight of compliance programs, it’s no longer business as usual. In 2019, a Delaware court shifted the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between July and October 2020. Class Certification - Cryptocurrency – Definition of a Security - Derivative...more

ArentFox Schiff

Municipal VRDO Class Action Survives Banks’ Request for Dismissal

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Financial institutions should work with outside counsel to ensure that their internal policies and external actions minimize conduct that may violate state and Federal laws and regulations, and incentivize employees to reward...more

Winstead PC

Charges Against Marble Ridge Capital Founder Illustrate the Pitfalls That Await Members of Unsecured Creditors’ Committees Who...

Winstead PC on

On September 3, 2020, the Securities & Exchange Commission charged Daniel Kamensky with abusing his fiduciary position as co-chair of the Neiman Marcus Group Unsecured Creditors’ Committee by pressuring a rival bidder to...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles SEC Approvals of Changes to "Accredited Investor" and "Qualified...

SEC/CORPORATE - SEC Amends the Definitions of “Accredited Investor” and “Qualified Institutional Buyer” - On August 26, the Securities and Exchange Commission adopted amendments to the definitions of “accredited...more

Troutman Pepper

The Latest Successful Caremark Claim

Troutman Pepper on

In Teamsters Local 443 Health Services & Insurance Plan v. Chou, the Delaware Court of Chancery held, at the pleading stage, that plaintiff stockholders had stated a claim for Caremark oversight liability against certain of...more

Cranfill Sumner LLP

U.S. Department of Justice Requires Qui Tam Relators to Disclose the Involvement of Third-Party Litigation Funding in False Claims...

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In fiscal year 2019, the U.S. Department of Justice (DOJ) secured over $3 billion in judgments and settlements from civil cases brought under the False Claims Act (FCA).  Of that $3 billion, over $2.6 billion related to...more

Kramer Levin Naftalis & Frankel LLP

Kirschner v. JPMorgan Chase Holds that Syndicated Bank Loans Are Not Securities

On May 22, Judge Gardephe granted a motion to dismiss in Kirschner v. JPMorgan Chase Bank, N.A., a case that, among other things, considered whether the origination and distribution of a syndicated bank loan is subject to...more

McDermott Will & Emery

Corporate Law & Governance Update - June 2018

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Executive Compensation Recoupment - The most recent development in the prominent University of Louisville Foundation controversy is the release of an independent analysis suggesting that its senior executive leadership was...more

Dechert LLP

Fifth Circuit Opinion Vacates DOL Fiduciary Rule

Dechert LLP on

The U.S. Court of Appeals for the Fifth Circuit on March 15, 2018 issued an opinion (Opinion) vacating the Department of Labor (DOL) fiduciary rule and related applicable exemptions. The DOL had promulgated the rule and...more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 12

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Spring Break. Congress is on recess for the next two weeks while observing the Easter and Passover holidays. Both Chambers will return the week of April 9....more

McDermott Will & Emery

Corporate Law & Governance Update - June 2017

Board Termination of the "Unethical CEO" - An important new study concludes that CEO terminations for ethical lapses (as a percentage of overall CEO successions) has dramatically increased over the last five years. The...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The December 22 announcement that Deutsche Bank had settled with the DOJ over long-standing RMBS-related claims and investigations for a reported $7.2 billion prompted this Times long-read that traced the Icarus-like rise and...more

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