News & Analysis as of

Securities Violations

Robins Kaplan LLP

Financial Daily Dose 8.11.2020 | Top Story: McDonalds Sues Former CEO Over Series of Workplace Affairs

Robins Kaplan LLP on

Eight months after firing its CEO, Steve Easterbrook, for “sexting with a subordinate,” McDonald’s has sued Easterbrook for allegedly “lying, concealing evidence and fraud” in what appears to be a series of other workplace...more

Hardin Compliance Consulting LLC

Lessons Learned from SEC & FINRA Cases and Worth Reading for August 2020

Lessons Learned - Franklin Advisers / Franklin Templeton.  A July proceeding against Franklin Advisers, Inc. (“FAV”) and Franklin Templeton Investments Corp. (“FTIC”) (together, “Franklin”) serves as a reminder to mutual...more

K&L Gates LLP

Voluntary Disclosure: Newsflash August 2020

K&L Gates LLP on

A government inquiry can result in serious consequences for a company or individual. Our new podcast series, Voluntary Disclosure—brought to you by the lawyers in our investigations, enforcement, and white collar practice—is...more

Polsinelli

Ring of Fire - SEC Hangs Up on Telegram

Polsinelli on

After an extended fight with the U.S. Securities and Exchange Commission ("SEC"), Telegram has agreed to resolve charges the company's unregistered offering of digital tokens called "Grams" violated the United States federal...more

Hogan Lovells

Crypto firm co-founder pleads guilty for $25 million ICO fraud scheme

Hogan Lovells on

The U.S. Department of Justice (DoJ) has announced that the co-founder of a cryptocurrency company who misled victims into investing $25 million in a fraudulent scheme has pled guilty for his role in the scheme and faces up...more

Polsinelli

Down for the Count - Floyd Mayweather Backed ICO Founder Pleads Guilty to Securities Fraud

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Regulators routinely warn the public not to believe everything you read on the internet and that is especially true as it relates to start-up Centra Tech, Inc. (“Centra Tech”).  Founded by Robert Farkas, Sohrab Sharma and...more

Stinson LLP

SEC Charges Company for Undisclosed Perquisites

Stinson LLP on

In a settled enforcement action, the SEC charged Argo Group International Holdings, Ltd. with failure to disclose perquisites provided to its CEO and board member, Mark E. Watson III. In an interesting twist, the SEC charged...more

Snell & Wilmer

SEC Awards Record Payout of Nearly $50 Million to Whistleblower

Snell & Wilmer on

On June 4, the Securities and Exchange Commission (“SEC”) announced a nearly $50 million whistleblower award to an individual who provided detailed, firsthand observations of misconduct by a company, which resulted in a...more

Bryan Cave Leighton Paisner

U.S. - Significant Increase in Complaints Brings Potential for Increased SEC Whistleblowing Activity

Among the myriad quarantine pursuits undertaken by the work-from-home crowd, whistleblowing appears to be proving popular. Recent reports indicate that the SEC received more than 4,000 Tips, Complaints, and Referrals (“TCRs”)...more

Polsinelli

Show Me the Money … all the Money - ICO Issuer Required to Return $25 Million to Investors

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The SEC recently required BitClave to return over $25 million to investors which the company raised by selling its Consumer Activity Tokens (CAT) to over 9,000 investors in an initial coin offering (ICO). BitClave was also...more

Perkins Coie

CFTC Division of Enforcement Publishes Guidance on Civil Monetary Penalty Determinations

Perkins Coie on

The CFTC Division of Enforcement (Division) of the U.S. Commodity Futures Trading Commission (CFTC) issued new guidance (Guidance) on May 20, 2020, that reflects the considerations of the Division when recommending civil...more

Stinson - Corporate & Securities Law Blog

SEC Charges Company for Undisclosed Perqs

In a settled enforcement action, the SEC charged Argo Group International Holdings, Ltd. for failure to disclose perqs provided to its CEO and board member, Mark E. Watson III....more

Faegre Drinker Biddle & Reath LLP

The SEC Sees a Significant Uptick in Tips, Complaints, and Referrals

From mid-March to mid-May, the SEC received more than 4,000 tips, complaints, and referrals. This, according to one of the SEC Co-Directors of the Division of Enforcement, represented a 35% increase over the same period last...more

Hardin Compliance Consulting LLC

SEC Settles Valuation, Fund Expense & Wrap Fee Actions, Advice on Returning to the Office: Lessons Learned from SEC & FINRA Cases...

Lessons Learned - Broker-Dealer Recruiting Tactics Lead to Reg S-P Violations. Kestra Investment Services, LLC (“Kestra”) conducts general securities business, has 678 branch offices, and approximately 1,846 registered...more

Mintz - Bankruptcy & Restructuring Viewpoints

Are Leveraged Loans Subject To Securities Laws? It Depends…

Leveraged loans continue to be a topic of interest in the current environment, particularly when they are pooled and securitized as collateralized loan obligations. A recent decision sheds light on whether and when leveraged...more

Skadden, Arps, Slate, Meagher & Flom LLP

Litigation, Exposure and Insurance During the COVID-19 Pandemic

On May 18, 2020, Skadden and Marsh cohosted a webinar addressing litigation, exposure and insurance during the COVID-19 pandemic. The panelists were Marcie Lape, Skadden litigation partner; Amy Van Gelder, Skadden litigation...more

Hodgson Russ LLP

Uptick in Investor Class Action Lawsuits Expected Due to COVID-19

Hodgson Russ LLP on

The legal fallout of the COVID-19 pandemic is rippling through the courts in the form of new class action lawsuit filings. In what is likely the first wave of a surge of class action activity, several recent class action...more

Weil, Gotshal & Manges LLP

SEC Charges Private Fund Sponsor with Compliance Failures Regarding the Potential Misuse of Material Nonpublic Information

The SEC recently settled an enforcement action against a large private fund manager (the Sponsor) wherein the Sponsor was charged with violations of Sections 204A and 206(4) of the Investment Advisers Act of 1940 (the...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC v. RPM International — A Cautionary Case Study on the Limits of Attorney-Client Privilege and Work-Product Protection

While much of the corporate legal world has been focused on the effects of the COVID-19 pandemic, a little-noticed case working its way through the federal courts in Washington, D.C. threatens to whittle down the scope of...more

Kramer Levin Naftalis & Frankel LLP

Kirschner v. JPMorgan Chase Holds that Syndicated Bank Loans Are Not Securities

On May 22, Judge Gardephe granted a motion to dismiss in Kirschner v. JPMorgan Chase Bank, N.A., a case that, among other things, considered whether the origination and distribution of a syndicated bank loan is subject to...more

Akin Gump Strauss Hauer & Feld LLP

Second Circuit Holds Section 16 Plaintiff Needs to Identify an Issuer-Specific Agreement to Establish Creation of a Group Among...

- The 2nd Circuit has affirmed two lower court decisions dismissing complaints alleging violations of Section 16(b) of the Securities Exchange Act. In so holding, the 2nd Circuit ruled that an investment advisor’s client does...more

Farrell Fritz, P.C.

Class Action Lawsuit Dismissed: Commercial Division Finds Company’s Alleged Misrepresentations and Omissions During Stock Sale...

Farrell Fritz, P.C. on

Many of us have previously heard the expression that there is a fine line between fact and fiction.  In securities law that holds especially true where companies that risk walking the “fine line” in their registration...more

Hodgson Russ LLP

SEC Discusses COVID-19 Pandemic-Related Enforcement Priorities

Hodgson Russ LLP on

The Securities and Exchange Commission has formed a Coronavirus Steering Committee to proactively identify and monitor areas of potential misconduct related to the coronavirus pandemic. The Division of Enforcement’s...more

Cooley LLP

Blog: SEC Enforcement investigating potential federal securities law violations by PPP borrowers

Cooley LLP on

It’s not just the Justice Department that’s looking into PPP loans—although there appears to be plenty of that going on—the SEC’s Division of Enforcement is also conducting an investigation into “Certain Paycheck Protection...more

Goodwin

U.S. SEC Enforcement Co-Director Discusses Agency’s COVID-19-Related Enforcement Priorities, Highlights Formation of Coronavirus...

Goodwin on

In a May 12, 2020 Keynote Address at the Securities Enforcement Forum West 2020, U.S. Securities and Exchange Commission (SEC) Co-Director of Enforcement Steven Peikin discussed the SEC’s COVID-19-related enforcement...more

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JD Supra Privacy Policy

Updated: May 25, 2018:

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Information for EU and Swiss Residents

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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California Privacy Rights

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Access/Correct/Update/Delete Personal Information

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Changes in Our Privacy Policy

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Contacting JD Supra

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How We Use Cookies and Other Tracking Technologies

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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