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Fenwick & West LLP

Securities Law Update - September 2024

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Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on...more

Orrick, Herrington & Sutcliffe LLP

SEC charges company for defrauding customers for $6M via false IPO

On August 26, the SEC filed a complaint and demand for a jury trial against a South Dakota corporation, its China-based investment adviser, and their CEO for allegedly defrauding investors out of millions of dollars in...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for January 2024

Each month we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s approval of spot bitcoin ETPs; - •SEC charges...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - December 2024

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Troutman Pepper

SEC Continues to Focus on SPAC Market

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In recent years, the U.S. Securities and Exchange Commission (SEC) has had its eye on the special purpose acquisition company (SPAC) market — warning investors against putting money into SPACs, expressing skepticism about...more

Holland & Knight LLP

SEC Enforcement Continues SPAC Crackdown as Founder Trading Profits Generate Scrutiny

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Despite the frothy market for special purpose acquisition companies (SPACs) in 2021, companies considering such a transaction have been met recently with significant market headwinds, a short supply of suitable targets, the...more

A&O Shearman

Sterling Bancorp Pleads Guilty To Criminal Securities Fraud

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On March 15, 2023, the Department of Justice (“DOJ”) announced that Michigan-based bank Sterling Bancorp, Inc. (“Sterling”) agreed to plead guilty to securities fraud for allegedly filing false statements relating to its 2017...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2022

Cornerstone Research reports that during the first six months of 2022, plaintiffs filed 110 securities class actions, a pace that is generally in line — 2.8% higher — with what we saw in the second half of 2021. Looking...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: September 1, 2022

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Mintz

Seizing Opportunity: The post-pandemic future of US life sciences M&A 2022

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As we predicted in the previous edition of this report, 2021 turned out to be a very strong year indeed for US life sciences dealmaking, marked by high transaction values and volumes as the industry continued on its...more

Ballard Spahr LLP

The SEC FY 2023 Budget Request Predicts Increased Enforcement Activities

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Summary - The Securities and Exchange Commission (SEC) this week released its annual Congressional Budget Justification. The agency is seeking a budget of $2.15 billion for FY 2023, which is almost $240 million more than...more

Morrison & Foerster LLP

2022 Predictions for Litigation, Investigations, and Enforcement Actions Affecting the Automotive Industry

Morrison & Foerster’s Automotive Task Force represents automotive industry clients in their most significant legal matters. We have tapped our multidisciplinary Automotive Task Force to get their opinions on what is likely...more

Locke Lord LLP

SPACs and the Implications for D&O ‎Insurance

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Special Purpose Acquisition Companies or “SPACs” have emerged as a significant part of the ‎financial and transactional markets. A SPAC is a company with no commercial operations, formed ‎strictly for the purpose of publicly...more

Bradley Arant Boult Cummings LLP

SEC’s Recent Enforcement Actions a Sign of Increased Scrutiny of SPACs

In one of the most high-profile actions recently undertaken by the Securities and Exchange Commission’s Fort Worth Office, the SEC in late October settled securities fraud charges for nearly $40 million against Akazoo, S.A.,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - October 2021

This quarter’s issue of Inside the Courts — An Update From Skadden Securities Litigators includes summaries and associated court opinions of selected cases principally decided in May-August 2021....more

Katten Muchin Rosenman LLP

Stable Road Enforcement Action Post Mortem: Lessons for the SPAC Market After Momentus Begins Trading - Capital Markets Compass |...

Stable Road And Momentus Close Business Combination. On August 11, Stable Road Acquisition Corp., a special purpose acquisition company (SPAC), announced that its shareholders had approved its business combination with...more

Wilson Sonsini Goodrich & Rosati

Ninth Circuit Cuts Shareholders More Slack on Section 11 Claims

In the past several years, the number of claims filed against newly public companies under the Securities Act of 1933 has increased significantly. At the same time, the development of direct listings has given companies...more

Oberheiden P.C.

The SEC Investigation Process: An Overview

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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

Proskauer - Corporate Defense and Disputes

Ex-Nikola Chairman Indicted for Securities Fraud

In April 2021, the SEC released several public statements that may have begun to cool a superheated SPAC market. FINRA soon followed suit, announcing in July 2021 a regulatory sweep aimed at SPACs.  Now, for the first time, a...more

Cooley LLP

Blog: Early SEC Enforcement Trends from Chairman Gary Gensler’s First 100 Days

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Gary Gensler was sworn in as chair of the Securities and Exchange Commission on April 17, 2021. Chairman Gensler has promised to strengthen transparency and accountability in the financial markets. Under Chairman Gensler, we...more

Farrell Fritz, P.C.

“Do Your Homework!”: SEC Order Sends Strong Message to SPAC Participants on Due Diligence

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The Securities and Exchange Commission announced on July 13, 2021 that it settled fraud charges against a special purpose acquisition company, its sponsor, its sponsor’s CEO and its proposed merger target for making...more

Akerman LLP

SPAC Mergers in the SEC’s Crosshairs? Recent Enforcement Activity Highlights Increased SPAC Merger Risk

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The past few weeks have seen a turn of events for companies involved with Special Purpose Acquisition Company (SPAC) vehicles. First, the Securities and Exchange Commission (SEC) announced civil administrative charges against...more

Mayer Brown Free Writings + Perspectives

The SEC Pursues Action Against SPAC and Insiders for Misleading Investors

On July 13, 2021, the US Securities and Exchange Commission (“SEC”) announced charges against Stable Road Acquisition Corp. (“SRAC”), a special purpose acquisition company (“SPAC”), SRAC’s proposed merger target, Momentus...more

Pillsbury Winthrop Shaw Pittman LLP

The Beginning of the SPAC Enforcement Wave: SEC Makes Example of SPAC for Spacing out on Diligence

Chair Gensler’s enforcement agenda begins to take shape as SEC brings sprawling enforcement action against wide range of SPAC participants. Consistent with prior SEC warnings regarding incentives for Special Purpose...more

WilmerHale

COVID-19: A Second Look at Securities Act Litigation Amid COVID-19

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This article follows an earlier Client Alert titled COVID-19: An Early Look at Securities Act Litigation Amid COVID-19. In that alert, we anticipated that there would be an increase in Securities Act filings involving claims...more

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