Monthly Archives: April 2019

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 Thursday afternoon (April 18), representing…

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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 risks for Japan as it…

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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 number of fines imposed. Instead,…

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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.

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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 be stepping aside from her…

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