Daily Archives: May 25, 2022, 6:27 pm

Second Circuit Reverses Dismissal of Securities Claim Alleging Failure to Disclose SEC Investigation | Corporate Defense and Disputes

The Noto decision could affect disclosure assessments where issuers disclose an underlying accounting problem or other deficiency but are debating whether they must also disclose a pending SEC or other governmental investigation related to that specific problem.  Depending on the facts and circumstances of the particular situation, a court might hold that failure to disclose the governmental investigation makes the…

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Guggenheim CIO Scott Minerd Sees Bitcoin (BTC) Sinking to $8,000 – Bloomberg

Guggenheim Partners Chief Investment Officer Scott Minerd said he expects Bitcoin to fall to $8,000 and that cryptocurrency has become a market of “a bunch of yahoos.” “Bitcoin and any cryptocurrency at this point has not really established itself as a credible institutional investment,” Minerd said Wednesday during a Bloomberg Television interview from the World Economic Forum in Davos, Switzerland.…

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Insurance Providers Rethink Their Approach to Crypto – WSJ

Many crypto exchanges and custodians have for years been unable to get insurance or shied away from getting it because of high premiums stemming from a dearth of insurers willing to underwrite the industry’s risk. Some big exchanges have chosen to insure themselves instead. But that is slowly changing, as the traditionally risk-averse insurance industry—from big brokers to new startups—dips…

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SEC Charges TradeZero America and Co-Founder with Deceiving Customers about Meme Stock Trading Halts

The Securities and Exchange Commission today charged broker-dealer TradeZero America Inc., and its co-founder, Daniel Pipitone, with falsely stating to the firm’s customers that they didn’t restrict the customers’ purchases of meme stocks when in fact they did. In late January 2021, many brokers restricted investors’ ability to purchase a group of highly volatile stocks generally known as “meme stocks.”…

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