Daily Archives: November 18, 2013, 9:56 am

Supreme Court Could Transform Shareholder Lawsuits With Halliburton Case – Businessweek

The high court agreed on Friday to hear an appeal by Halliburton asking the high court to overturn a 1988 precedent that made it much easier for shareholders to band together to allege corporations have defrauded investors. The precedent, Basic v. Levinson, said that shareholders didn’t have to show that they had made investment decisions in reliance on a company…

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Behind the SEC’s Pursuit of Mark Cuban – WSJ.com

In the wake of this case, the SEC needs to re-evaluate its insider trading program. It—or Congress—should clarify that under the misappropriation theory of insider trading, the required relationship of trust and confidence can be created by agreement only if someone who receives material, nonpublic information about a company agrees to keep that information confidential and not trade on it.…

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U.S. Agencies to Say Bitcoins Offer Legitimate Benefits – Bloomberg

The Department of Justice and Securities and Exchange Commission are telling a U.S. Senate committee that Bitcoins are legitimate financial instruments, boosting prospects for wider acceptance of the virtual currency. Representatives from the agencies told the U.S. Senate Committee on Homeland Security and Governmental Affairs ahead of a hearing today that the digital money offers benefits and carries risks, like…

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