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Misrepresentation Corporate Governance

Holland & Knight LLP

SEC Cyber Enforcement Update: Which Way Are the SolarWinds Blowing?

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The SEC has been aggressively pursuing cybersecurity investigations and enforcement actions against public companies and foreign private issuers. In these actions, the SEC often alleges one of two theories: 1) that the...more

BCLP

The Supreme Court Considers Item 303 Violations as Basis for Securities Fraud Claims

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Corporate executives know they must disclose in their companies’ financial statements trends or uncertainties affecting their business. Such disclosure is a requirement of Item 303 of SEC Regulation S-K....more

Mayer Brown

New California Anti-Greenwashing Law Goes Live on January 1, 2024 – What you need to know if you make certain “green” claims.

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California recently passed the Voluntary Carbon Market Disclosures Act (AB 1305) (VCMDA). The new “anti-greenwashing” law is one of the first laws in the U.S. to not only regulate the voluntary carbon market, but also require...more

Cadwalader, Wickersham & Taft LLP

Court Declares Austrian Airlines Liable for Greenwashing

An Austrian regional court found Austrian Airlines AG (AUA), a subsidiary of German airline Lufthansa, liable for greenwashing for advertisements offering carbon-neutral flights that used 100% sustainable aviation fuel (SAF),...more

Society of Corporate Compliance and Ethics...

Let’s call it what it is

Sometimes I think we need fewer terms to describe the same or similar things. In the environmental, social, and governance (ESG) world, much is made—rightfully so—of greenwashing, which occurs when an organization makes false...more

Latham & Watkins LLP

Greenwashing: Key Drivers, Risks, Enforcement, and Litigation

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LIDW23 member-hosted event provided insights into current and future trends in the greenwashing space. Latham & Watkins recently hosted a panel discussion during London International Disputes Week on the topic of...more

Cadwalader, Wickersham & Taft LLP

European Commission Aims to Tackle Greenwashing in Latest Proposal

On March 22, 2023, the European Commission unveiled a proposal, the Green Claims Directive, (Proposal) aimed at combating greenwashing and misleading environmental claims. By virtue of the Proposal, the EC is attempting to...more

Bilzin Sumberg

SEC's Proposed Rule Changes Seek to Curb Greenwashing

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We have previously written about the Securities and Exchange Commission (“SEC”) considering additional regulations on statements and disclosures made by public companies and investment funds relating to their credentials on...more

White & Case LLP

HP v Autonomy: The “fake it ‘till we make it” start-up culture on trial

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In its long-awaited judgment, the English High Court1 has found that the British software firm Autonomy defrauded the US tech giant Hewlett-Packard (HP) and induced its own acquisition for the price of US$11.1bn...more

Eversheds Sutherland (US) LLP

Greenwashing: A survey of recent litigation

As climate change jurisprudence continues to evolve, an offshoot of “greenwashing” claims has generated a series of headline-grabbing lawsuits. The definitions vary but most references to greenwashing include claims...more

Allen Matkins

Court Orders Discovery In Derivative Action Challenging Racial Diversity

Allen Matkins on

Last year, the City of Pontiac General Employees' Retirement System filed a derivative suit against the Board of Directors and Chief Executive Officer of Cisco Systems, Inc.  The gist of the complaint was that the "Defendants...more

Kelley Drye & Warren LLP

New ESG Lawsuit Targets Aspirational Statements

Earlier this month, the nonprofit Earth Island Institute filed a lawsuit against Coca-Cola, alleging that the company falsely and deceptively represents itself as “a sustainable and environmentally friendly company, despite...more

Goodwin

Talking The Talk Versus Walking The Walk: Shareholder Suits Aim To Push Board Diversity And Punish Companies Supposedly Failing To...

Goodwin on

A lot of attention has been paid to board diversity – or lack thereof – in recent months. California enacted AB-979, which expanded upon California’s earlier gender diversity law and requires boards to make strides in other...more

Wilson Sonsini Goodrich & Rosati

Delaware Court of Chancery Limits Application of California Books and Records Statute to Delaware Corporations Under the Internal...

On August 13, 2020, the Delaware Court of Chancery issued an opinion, JUUL Labs, Inc. v. Grove, C.A. No. 2020-0005-JTL (Del. Ch. Aug. 13, 2020), holding that a stockholder of a Delaware corporation headquartered in California...more

Holland & Hart - The Benefits Dial

[Don’t] Tell Me Lies, Tell Me Sweet Little Lies … or the SEC will charge you with fraud

Many private companies assume that if valid federal and state exemptions from registration are available for private company securities that there is little risk of problems with the Securities Exchange Commission (SEC). ...more

Bennett Jones LLP

ExxonMobil Wins Climate Change Securities Battle Against New York but the War Continues

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More than four years of contentious litigation concluded this month when the Supreme Court of the State of New York released its judgment in the People of the State of New York v Exxon Mobil Corporation. The Court found...more

BCLP

Securities and Corporate Governance Update – October 2019

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This newsletter discusses noteworthy updates, key regulatory decisions and upcoming compliance reminders. In this edition, we review: ...SEC Changes Approach to Shareholder Proposal No-Action Requests ...SEC Issues...more

Bennett Jones LLP

Summary of Actions Against Exxon Mobil for Securities Fraud

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Since 2013, investors in Exxon Mobil Corporation ("Exxon") stock have consistently shown an interest in understanding how the effects of climate change will impact their investment. Over the years, in response to these...more

Proskauer - The Capital Commitment

Theranos, the SEC’s Pursuit of Unicorns, and Taking the Reins of Internal Controls

In the wake of a host of negative developments, Theranos Inc. is reportedly under investigation by the Department of Justice and the Securities and Exchange Commission. The SEC and DOJ inquiries are likely to focus on...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The SEC prevailed on two summary judgment motions. One centered on a manipulation action. The other was against an attorney who facilitated a prime bank fraud. The Commission also filed: An action against UBS tied to its...more

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