News & Analysis as of

Securities and Exchange Commission (SEC) Cryptocurrency Misleading Statements

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - November 2024 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates the stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for October 2024

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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: •Accounting fraud charges for allegedly concealing costs; ...more

A&O Shearman

Supreme Court Hears Oral Argument On Standard For Pleading Securities Fraud In Private Civil Suits

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On November 13, 2024, the United States Supreme Court heard oral argument in an appeal from a decision of the United States Court of Appeals for the Ninth Circuit in a putative class action asserting claims under the...more

Cozen O'Connor

The State AG Report – 7.18.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Gasoline Trading Firms to Pay $50 Million to Settle...more

Freiberger Haber LLP

Enforcement News: SEC Charges Bank With Misleading Investors About The Strength Of Its BSA/AML Compliance Program And Its...

Freiberger Haber LLP on

The Currency and Foreign Transactions Reporting Act, also known as the “BSA,” enacted in 1970, established requirements for record-keeping and reporting by banks and other financial institutions. The BSA is designed to, among...more

Jones Day

2023 Securities Litigation Year in Review

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During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - August 2023 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates these stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...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

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for March 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources...more

Nelson Mullins Riley & Scarborough LLP

March Madness: “The Truth” Fined by the SEC for Not Shooting Straight in Crypto Promotion

NBA Hall of Famer Paul Pierce, known by basketball fans as “The Truth,” has run afoul of the SEC. No, not that SEC—Pierce played college basketball at Kansas in the Big 12. No, this would be the U.S. Securities and Exchange...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for January 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Orrick, Herrington & Sutcliffe LLP

SEC brings charges in connection with alleged $45 million crypto fraud

On January 4, the SEC filed a complaint in the U.S. District Court for the Eastern District of Michigan against a cryptocurrency operation and connected individuals and entities (collectively, defendants), alleging that they...more

Goodwin

The Federal Deposit Insurance Corporation (FDIC) Issued Guidance Regarding FDIC Insurance and Crypto Assets - August 2022 #2

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FDIC Takes Action Against False or Misleading Crypto-Related Representations - On August 19, the FDIC issued letters (the Letters) to five companies demanding that they cease and desist from making false and misleading...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

Husch Blackwell LLP

BlockFi Hit with $100 Million in Penalties, Must Register Interest-Bearing Crypto Accounts with SEC

Husch Blackwell LLP on

Legal and business professionals in the cryptocurrency industry have long asked when the Securities and Exchange Commission would provide guidance on the interest-bearing crypto accounts offered by BlockFi, Gemini, Celsius,...more

Proskauer - Blockchain and the Law

SEC Sues Crowd Machine for Allegedly Fraudulent and Unregistered ICO

In its first enforcement action of the year involving ICOs, the U.S. Securities and Exchange Commission (SEC) charged two companies and their founder for violations of antifraud and registration provisions of the federal...more

Goodwin

Federal Reserve Hints at Government-Backed Cryptocurrency

Goodwin on

Federal Reserve Hints at Government-Backed Cryptocurrency; Third Circuit Affirms Dismissal of Securities Fraud Class Action Against Shutterfly Inc. Regarding Allegedly Misleading Financial Projections; Ninth Circuit Holds...more

Goodwin

Biogen Inc. Wins Some, Loses Some, in Delaware Chancery Court Corporate Records Suit

Goodwin on

Biogen Inc. Wins Some, Loses Some, In Delaware Chancery Court Corporate Records Suit; Southern District of Florida Dismisses Securities Fraud Class Action Against Norwegian Cruise Lines Stemming From Alleged Impacts of...more

Akin Gump Strauss Hauer & Feld LLP

Increased SEC Enforcement Action and Litigation In the Cryptocurrency Space

As the U.S. Securities and Exchange Commission (SEC) stated previously, it is continuing to scrutinize and commence enforcement actions against companies, advisors and investors involved in the offering of cryptocurrencies...more

Sullivan & Worcester

"Low Risk, High Potential Rates of Return are Achievable"

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Really? According to the website created by Tomahawk Exploration LLC (Tomahawk), in connection with its Initial Coin Offering (ICO) for its Tomahawk tokens (TOM), the ICO represented “a substantial investment opportunity . ....more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The SEC hasn’t had much luck with its attempts so far to hold MBS traders responsible for allegedly lying to customers about MBS prices. Yet on the Monday’s charges against ex-Nomura traders suggests that the agency’s not...more

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