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Misrepresentation Publicly-Traded Companies

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

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: March 1, 2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...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

Proskauer - Corporate Defense and Disputes

Supreme Court Requires Traceability for Securities Act Claims Arising from Direct Listings

The U.S. Supreme Court held that purchasers of shares sold to the public through a direct listing cannot sue under Section 11 of the Securities Act of 1933 unless they can trace their shares to an allegedly defective...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

Bilzin Sumberg

SEC's Proposed Rule Changes Seek to Curb Greenwashing

Bilzin Sumberg on

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

Goodwin

District Court Denies Payday Lender's Bid To Dismiss SEC Enforcement Action

Goodwin on

District Court Denies Payday Lender's Bid To Dismiss SEC Enforcement Action; Delaware Chancery Court Dismisses Camping World Insider Trading Derivative Suit; California Federal Judge Certifies Class Of Apple Common-Stock...more

A&O Shearman

Company Acquired By SPAC Agrees To Pay $125 Million To Settle SEC Probe Months After CEO Was Charged With Fraud

A&O Shearman on

On December 21, 2021, the Securities and Exchange Commission (SEC) announced that Nikola Corporation—a publicly traded company that develops, manufactures, and sells electric trucks—had agreed to a $125 million settlement...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

Oberheiden P.C.

The SEC Investigation Process: An Overview

Oberheiden P.C. on

The U.S. Securities and Exchange Commission (SEC) investigates companies, brokerage firms, and individuals for a broad range of statutory and regulatory violations. These investigations can lead to civil or administrative...more

Goodwin

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action

Goodwin on

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action; NASDAQ Board Diversity Rules Challenged in Fifth Circuit; Delaware Court of Chancery Declines to Enforce Contractual Limitations on Liability to Bar Contractual Fraud...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

Goodwin

Delaware Court of Chancery Awards Attorneys’ Fees After Gilead’s “Glaringly Egregious” Litigation Conduct

Goodwin on

Delaware Court of Chancery Awards Attorneys’ Fees After Gilead’s “Glaringly Egregious” Litigation Conduct; S.D.N.Y Grants Plaintiffs’ Partial Summary Judgment in Securities Class Action Against Perrigo; SPAC Investors Launch...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

BCLP

Securities and Corporate Governance Update – October 2019

BCLP on

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

Stinson - Corporate & Securities Law Blog

SEC Sanctions Issuer for Misrepresentations Regarding Loan Covenant Compliance

Omega Protein Corporation manufactured and distributed omega-3 fish oils and fish meal products. Omega financed its operations through federal government programs under Title XI of the Merchant Marine Act of 1936....more

A&O Shearman

Fifth Circuit Affirms Dismissal Of Putative Class Action, Holding That Grant Of Employee Stock Option Did Not Constitute A Sale,...

A&O Shearman on

On May 24, 2019, the United States Court of Appeals for the Fifth Circuit affirmed in a unanimous decision the dismissal of a putative securities class action against a major financial services company and several of its...more

Akin Gump Strauss Hauer & Feld LLP

New York Court Dismisses Public Company’s Defamation Lawsuit Against Short Sellers

• On March 8, 2019, New York State Supreme Court Justice Joel M. Cohen dismissed a defamation action brought by Eros International plc, an Indian media company, against multiple short sellers who had questioned the accuracy...more

Bass, Berry & Sims PLC

Chris Lazarini Provides Insight on Appeal of Disgorgement Order

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini provided insight on a case in which the defendant appealed a verdict claiming the court abused its discretion and issued a “highly excessive” judgment when it ordered him to disgorge...more

Fenwick & West LLP

SEC and DOJ Charge Former Executives of Private Company for Misrepresenting the Company’s Technology - A Reminder that Private...

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In a case reminiscent of last year’s blockbuster government actions against Theranos and its former executives, the U.S. Department of Justice and the U.S. Securities and Exchange Commission have separately charged two former...more

White & Case LLP

2018 Half-year in review: M&A legal and market developments

White & Case LLP on

We set out in the attached Newsletter a number of interesting English court decisions and market developments which have taken place in the second half of 2018 and their impact on M&A transactions. This review looks at these...more

Dorsey & Whitney LLP

Sued for Misjudging the Impact of GDPR and Other Changes to the Consumer Data Privacy Landscape – Yes that Just Happened

Dorsey & Whitney LLP on

In what could be a harbinger of things to come for business models negatively impacted by the throttling of data flow under the European Union’s General Data Protection Regulation (“GDPR”), Nielsen Holdings was named in a...more

Dechert LLP

Dechert Survey of Securities Fraud Class Actions Brought Against U.S. Life Sciences Companies

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Publicly Traded Life Sciences Companies in the United States Are an Increasingly Popular Target of Securities Fraud Class Action Lawsuits - The past year was particularly noteworthy with respect to the relative number...more

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