‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInStephen M. Cutler, Former General Counsel of JPMorgan Chase & Co. and SEC Director of Enforcement, to Join Simpson Thacher as a Partner
Simpson Thacher & Bartlett LLP announced today that Stephen M. Cutler, former General Counsel and current Vice Chairman of JPMorgan Chase & Co., will join the Firm as a Litigation Partner in April. Prior to his tenure at JPMorgan, Steve served as Director of Enforcement at the Securities and Exchange Commission. At Simpson Thacher, he […]
Cornerstone Research: 2017 Securities Lawsuit Filings at “Unprecedented Levels” | The D&O Diary
For the second straight year, securities class action lawsuit filings reached record levels in 2017, according to the January 30, 2018 report from Cornerstone Research. According to the report, entitled “Securities Class Action Filings: 2017 Year in Review” (here), securities suit filings during the year reached “unprecedented levels” and companies on U.S. exchanges were more […]
SEC.gov | Michael Maloney, Enforcement’s Chief Accountant, to Leave SEC
The Securities and Exchange Commission today announced that Michael F. Maloney, Chief Accountant of the SEC’s Division of Enforcement, is planning to leave the agency next month. via Michael Maloney, Enforcement’s Chief Accountant, to Leave SEC
U.S. to Probe Apple Over Updates That Slow Older iPhones – Bloomberg
The U.S. Department of Justice and the Securities and Exchange Commission are investigating whether Apple Inc. violated securities laws concerning its disclosures about a software update that slowed older iPhone models, according to people familiar with the matter. via U.S. to Probe Apple Over Updates That Slow Older iPhones – Bloomberg
SEC Moves to Stop $600 Million Digital Coin Offering – WSJ
The Securities and Exchange Commission on Tuesday said it obtained a court order, unsealed late Monday, that permits a receiver to seize cryptocurrencies held by Dallas-based AriseBank, which allegedly marketed and received the proceeds from the coin offering. The SEC alleges the company and its executives committed fraud by misleading investors about its ownership of […]
Lawyers investigate whether ASIC website glitch assisted insider trading – Australian Broadcasting Corporation
Until late last year, a flawed search tool allowed people to access all ASIC documents sent to any email address. There was no identification required, so people could spy on the company research of private equity investors if they knew their email address. ASIC has now told 770 people that their records have been forwarded […]
Assistant U.S. Attorney Patrick Otlewski Joins King & Spalding’s Chicago Office – King & Spalding
King & Spalding today announced that Assistant U.S. Attorney for the Northern District of Illinois Patrick Otlewski has joined its Special Matters & Government Investigations practice as a partner in the Chicago office. The third former federal prosecutor to join the Chicago office since its launch this past fall, Otlewski further fortifies the firmwide Special […]
SEC Weighs a Big Gift to Companies: Blocking Investor Lawsuits | Newsmax.com
But as President Donald Trump’s pro-business agenda sweeps through Washington, the SEC is laying the groundwork for a possible policy shift, said three people familiar with the matter. The agency, according to two of the people, has privately signaled that it’s open to at least considering whether companies should be able to force investors to settle disputes […]
Beware ICO Lawyers: As Regulatory Gatekeepers, You’re the Next SEC Target | LinkedIn
Under any circumstance, by allowing their ICO clients to peddle unlawful securities and violate a broad range of securities laws, lawyers are failing in their role as gatekeepers. Moreover, by providing the kind of legal advice that can land a client into the SEC’s crosshairs, or even worse, into the crosshairs of criminal investigators and prosecutors, […]
As Predicted, Another Cryptocurrency-Related Securities Suit | The D&O Diary
As if to prove my point, on January 24, 2018, plaintiffs filed yet another cytptocurrency-related lawsuit in the Southern District of Florida. The complaint, which can be found here, was filed on behalf of a class of persons who invested in cryptocurrencies with BitConnnect, a U.K. company that promised traders outsized-returns of up to 40% […]