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Join the Securities Litigation and Enforcement Group on LinkedInUS Chamber’s Legal Arm Calls for Reform of Explosive Securities Class Action System | Corporate Counsel
Mayer Brown partner Andrew Pincus, who spoke at the briefing and prepared one of the research reports, told Corporate Counsel that general counsel should consider such litigation a serious threat. “The data show that public companies today have the highest possibility of being sued of any time in history,” Pincus said. “That’s basically means every […]
SEC asks judge to hold Tesla’s Elon Musk in contempt, saying he violated settlement deal – The Washington Post
The Securities and Exchange Commission on Monday asked a federal judge to hold Tesla CEO Elon Musk in contempt for violating the terms of a recent settlement agreement, rekindling tensions between the celebrity billionaire and the country’s regulators. The SEC accused Musk of breaking a deal to seek preapproval of any potentially market-moving tweets about […]
S.E.C. Wants Elon Musk Held in Contempt of Court for Tesla Post on Twitter – The New York Times
Elon Musk has put himself in legal trouble with a post on Twitter. Again. The Securities and Exchange Commission on Monday asked a federal court to hold Mr. Musk, chief executive of Tesla, in contempt of court for violating a settlement that he and the company reached with the commission last year. The S.E.C. said […]
U.S. Securities Class Action Litigation: Alarm Bells and Reform Proposals | The D&O Diary
The new Institute paper to which I linked above begins by recapping and updating the prior paper’s observations about the current alarming trends concerning U.S. securities class action litigation. The paper reviews and further details two specific current securities litigation trends — the flood of federal court merger objection litigation and rise of event-driven securities […]
SEC Judgment Ends Case of Ex-Foley & Lardner Partner Who Profited From Firm Secrets | The American Lawyer
Almost two years since his May 2017 arrest, the government has meted out what’s likely to be its last dose of punishment for former Big Law partner Walter “Chet” Little, who’s already serving prison time for using confidential information on Foley & Lardner’s clients to gain an investing edge. The U.S. Securities and Exchange commission announced Friday that it […]
For Tesla, effects of Elon Musk’s take-private tweet continue
Tesla and CEO Elon Musk settled with the SEC last year over Musk’s tweets about taking the company private, but the fallout isn’t over. The electric-car company said in a filing Tuesday that it “substantially paid by the end of 2018” $30.1 million in settlement and legal expenses related to Musk’s public statements about a […]
Jonathan Biran and Ty Kelly Join Baker Donelson in Baltimore and D.C.
Baker Donelson continues to expand its Government Enforcement and Investigations Group with the recent addition of prominent white collar lawyers Jonathan Biran and Ty Kelly. Mr. Biran and Ms. Kelly, both former Assistant U.S. Attorneys for the District of Maryland who are consistently recognized as leading white collar defense attorneys in the Baltimore-Washington area, are […]
Jeffrey Skilling released after 12 years in prison for role in Enron scandal – Houston Chronicle
Jeffrey K. Skilling, the former Enron CEO who spent the past 12 years in prison for his role in masterminding one of most notorious corporate fraud cases in history, was released from federal custody on Thursday, the Bureau of Prisons said. via Jeffrey Skilling released after 12 years in prison for role in Enron scandal […]
Pension funds’ lawsuit against Credit Suisse ADRs allowed to proceed – Pensions & Investments
The complaint alleges that Credit Suisse misrepresented its trading and risk-limit controls and that they were increased to allow it to accumulate nearly $3 billion in distressed debt and U.S. collateralized loan obligations that later proved to be difficult to liquidate. A subsequent disclosure by Credit Suisse of a $633 million write-down related to the […]
Guest Blog: Dodd-Frank Whistleblower Protection Post-Digital Realty – Government Accountability Project
One year ago, however, the Supreme Court narrowed the scope of Dodd-Frank whistleblower protection due to an apparent drafting error. In particular, the Court held in Digital Realty Trust, Inc. v. Somers, 138 S. Ct. 767 (2018) that the definition of “whistleblower” in the anti-retaliation provision of the Dodd-Frank Act, 5 U. S. C. §78u– […]