News & Analysis as of

Misleading Statements Securities

Freiberger Haber LLP

Enforcement News: Cherry-Picking Scheme Back In The News

Freiberger Haber LLP on

Two weeks ago, this Blog wrote about an enforcement action involving an investment adviser’s former co-chief investment officer who had been charged with running a more than $600 million cherry-picking scheme (here). Today,...more

Seward & Kissel LLP

SEC Charges Investment Company, CEO and Board Member for Alleged Misleading Statements Regarding Use of Artificial Intelligence

Seward & Kissel LLP on

Who may be interested: Registered Investment Companies; Boards of Directors; Compliance Staff; Registered Investment Advisers - Quick Take: The SEC recently settled charges against a registered investment adviser (Adviser)...more

BCLP

U.S. Supreme Court to Hear Consequential Case Concerning Public Companies’ Risk-factor Disclosures

BCLP on

The U.S. Supreme Court has scheduled argument for November 6, 2024 in an important case involving risk-factor disclosures of public companies. At issue is whether a company’s risk disclosures can be treated as false or...more

K&L Gates LLP

Australia Greenwashing: Half-Yearly Review of ASIC and ACCC Prosecutions – and ACCC Position on Environmental Collaborations

K&L Gates LLP on

In Brief - The Australian Competition and Consumer Commission (ACCC) and Australian Securities and Investments Commission (ASIC) continue to be vigilant and seek significant penalties for alleged "greenwashing" (misleading...more

Seward & Kissel LLP

SEC Charges Crypto Firm with Custody Rule Violations and Misleading Fund Investors on the Timing of Redemption Notices

Seward & Kissel LLP on

On September 3, 2024, the U.S. Securities and Exchange Commission (the “SEC”) announced settled charges against Galois Capital Management LLC (“Galois”), a Florida-based former registered investment adviser, for failing to...more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

Proskauer - Corporate Defense and Disputes

Second Circuit Clarifies Nature of Actionable Opinions Under Securities Laws

The U.S. Court of Appeals for the Second Circuit held that a statement of opinion that reflects some subjective judgment can nevertheless be actionable under the securities laws if it misleads investors into thinking that the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - May 2023

Supreme Court Hears Argument on Traceability Requirement in Circuit-Split Slack v. Pirani - Key Points - - Before the end of June, the U.S. Supreme Court is expected to issue a decision in a high-profile securities case...more

Goodwin

Court Dismisses Post-SPAC Class Action for Lack of Standing

Goodwin on

On March 31, 2023, U.S. District Judge Ronnie Abrams of the Southern District of New York dismissed a putative securities class action against CarLotz, Inc. (CarLotz), and certain of its officers and directors on the grounds...more

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