News & Analysis as of

Interstate Commerce Securities Act of 1933

Bracewell LLP

“Fair Value” and “Fair Value to the Obligor”

Bracewell LLP on

The mortgage bond indenture (herein called a “Mortgage”) under which many electric and gas utility companies in the United States issue debt securities (herein generically called “bonds”) may be one of the most unloved...more

A&O Shearman

SEC Files Contested Complaint Over Unregistered $100 Million Initial Coin Offering, In Case That Could Clarify Application Of...

A&O Shearman on

On June 4, 2019, the U.S. Securities and Exchange Commission (“SEC”) sued Kik Interactive Inc. (“Kik”) for conducting an unregistered offering of $100 million of digital tokens. See U.S. Securities and Exchange Commission v....more

Gray Reed

Securities Fraud – a Lesson for Promoters

Gray Reed on

We discussed SEC v. Arcturus et al last week and promised more. Here it is. Did defendants commit securities fraud? It doesn’t matter. Violations of Sections 5 of the Securities Act and 15.A of the Exchange Act are...more

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