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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInKalshi’s ‘Stock Market of the World’ Lets You Bet on Anything – Bloomberg
On Nov. 3, 2020, Election Day, two young entrepreneurs received a call from the chairman of the Commodity Futures Trading Commission with some important news. Luana Lopes Lara and Tarek Mansour had spent the past 18 months trying to get permission to start an ambitious and controversial new type of financial exchange—one where, rather than […]
Fifth Circuit Court Ruling Asks if SEC Can Even Make Rules – Bloomberg
The decision could go beyond the SEC. Other regulators, including the Commodity Futures Trading Commission and the Federal Trade Commission, also use in-house courts. “It will inspire a wave of litigation across all agencies” that use the administrative proceedings, says John Coates, a professor of law and economics at Harvard Law School and a former […]
SPACs Are Warning They May Go Bust – WSJ
The SPAC boom brought a wave of companies to the public markets promising years of rapid growth and profits to investors. Two years since the boom began, many of these companies are already warning they may go bust. At least 25 companies that merged with special-purpose acquisition companies between 2020 and 2021 have issued so-called […]
How Influencers Hype Crypto, Without Disclosing Their Financial Ties – The New York Times
In some cases, promoters like Mr. Paul have admitted that they failed to disclose personal or financial ties to projects advertised on their feeds, a potential violation of federal marketing regulations. And even before the crypto market’s recent downturn, a series of these influencer-backed ventures had crashed spectacularly, hurting amateur traders and prompting lawsuits that […]
Twitter shareholder sues Elon Musk, says company is paying a ‘chaos tax’
“Musk’s disregard for securities laws demonstrates how one can flaunt the law and the tax code to build their wealth at the expense of the other Americans,” the suit said. It quoted another Wall Street Journal article that said Twitter, plagued by confusion about Musk’s shifting plans, has frozen its hiring, fired two senior executives […]