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Join the Securities Litigation and Enforcement Group on LinkedInMeet Andrew Yang, the pro-bitcoin presidential candidate | CryptoSlate
Andrew Yang, the 2020 Democratic presidential candidate, has now become the pro-cryptocurrency candidate. Crypto was recently added to his list of platform priorities, joining Yang’s push for policies such as universal basic income, Medicare for all, and human-centered capitalism. via Meet Andrew Yang, the pro-bitcoin presidential candidate | CryptoSlate.
Well, That Didn’t Take Long: Lyft Hit with IPO-Related Securities Suit | The D&O Diary
On March 28, 2019, amidst much fanfare, the rideshare company Lyft went public at $72 a share, raising more than $2.2 billion. In the first trading day following the offering, the company’s share price rose 8.7 percent. However, despite the initial euphoria, Lyft’s share price then began to slump. Lyft shares closed at $58.36 on […]
In SEC vs. Elon Musk, a Question of When Tweets Matter – WSJ
The outcome of the negotiations, which face a Thursday deadline, could alter the unique punishment Mr. Musk agreed to in the settlement with the Securities and Exchange Commission, which had alleged the Tesla chief executive misled investors with tweets saying he had funding in place to take the car maker private. “They want the remedy […]
The Supreme Court Hands the S.E.C. a Rare Win – The New York Times
The Securities and Exchange Commission’s record in the Supreme Court has not been strong the past few years. The court limited the period during which the agency can pursue a fraud claim and required a case seeking disgorgement be filed within five years of the violation. But the justices handed the S.E.C. a significant victory […]
Japan to require crypto exchanges to bolster internal oversight: source | News | The Mighty 790 KFGO
Japan’s financial regulator will require cryptocurrency exchanges to strengthen internal oversight of the so-called “cold wallets” used to store digital money, a source with direct knowledge of the matter told Reuters on Tuesday. The move by the Financial Services Agency (FSA) highlights the difficulties in ensuring security of virtual currencies, as well as the broader […]
SEC’s Lone Democratic Member Expected to Step Down in Fall – WSJ
The only Democratic member of the Securities and Exchange Commission is expected to leave government later this year, paving the way for a more conservative tilt on some regulatory decisions. Robert Jackson Jr. is expected to join New York University Law School for the fall semester, according to a university spokesman and an email from […]
The SEC’s budget shows just how outgunned it is | TheHill
The trick is, rather than getting mired in the weeds, one should review four top-line numbers provided by the reports. To wit, the executive summary of the 2020 budget appropriations document says the agency expects to oversee $97 trillion in securities trading, a 29-percent jump from the $75 trillion it saw supervising in 2019. By […]
A Lens into SEC Enforcement | Middle Market Growth
The report demonstrates how these principles led to the SEC’s primary focus on protecting Main Street investors from bad actors and fraudulent conduct in 2018. The report also imparts another important message from the co-directors of the SEC’s enforcement division: Success should not be solely measured by the sheer number of cases brought or the […]
The SEC v. Mark Cuban
…. The SEC’s case against Cuban raises questions focusing on the scope of this nation’s insider trading laws, the strategic litigation decisions made, the significant costs of defending one’s good reputation, and the proper limits of governmental prosecutorial discretion. via The SEC v. Mark Cuban.
Departing SDNY Criminal Chief Heading to Debevoise | New York Law Journal
The former chief of the criminal division at the U.S. Attorney’s Office in the Southern District of New York is set to join Debevoise & Plimpton, where she will join several former colleagues from the top ranks of U.S. law enforcement in the firm’s white-collar defense and investigations practice. Lisa Zornberg, who was revealed in January to […]