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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Charges The Hydrogen Technology Corp. and its Former CEO for Market Manipulation of Crypto Asset Securities
The Securities and Exchange Commission today announced charges against The Hydrogen Technology Corporation, its former CEO, Michael Ross Kane, and Tyler Ostern, the CEO of Moonwalkers Trading Limited, a self-described “market making” firm, for their roles in effectuating the unregistered offers and sales of crypto asset securities called “Hydro” and for perpetrating a scheme to […]
Reg FD Action Headed for Trial Where IR Department Alleged to Have “Walked Down” Consensus | Morrison Foerster
For the first time, a Regulation Fair Disclosure (Reg FD) case may be headed to trial. On September 8, 2022, the Federal District Court for the Southern District of New York denied cross-motions for summary judgment in a case brought by the Securities and Exchange Commission (SEC) against AT&T, Inc. and three individuals who worked […]
SEC Charges Former Executives At Moviepass and Its Parent Company for Making False Statements to Investors and Falsifying Books and Records
According to the complaint, between August 2017 and at least March 2019, Farnsworth and Lowe intentionally and repeatedly made misstatements in HMNY Commission filings, press releases, and in the press that MoviePass could be profitable at its new, $9.95 per month subscription price; about HMNY’s purported data analytics capabilities; and concerning HMNY’s ability to fund […]
ESG Threat Goes Beyond BlackRock – WSJ
This process is already happening in Europe and the U.K. The Securities and Exchange Commission is following suit by proposing new rules that would require public companies to provide detailed reporting of their climate-related risks, emissions and net-zero transition plans. This is the tomorrow war that the ESG opposition needs to start waging today, rather […]
WNN Exclusive: FOIA Documents Discredit Articles Attacking SEC Whistleblower Program
In response to a Freedom of Information Act (FOIA) request filed by Whistleblower Network News and the National Whistleblower Center (NWC), the U.S. Securities and Exchange Commission (SEC) has released the 1034 pages of documents that served as the basis for recent articles attacking the SEC Whistleblower Program. In July and August, Bloomberg Law and […]
Carson Block Betrayed Partner to Steal SEC Award, Filing Says
The court fight over a $14 million SEC whistleblower award to short seller Carson Block escalated Monday, with his collaborator alleging Block deceived him while also acknowledging that neither man may have deserved the money. Kevin Barnes argued in a new federal filing that Block worked behind the scenes to convince Securities and Exchange Commission […]
House Democrats Unveil Bill to Restrict Trading by Lawmakers, Presidents – Bloomberg
Senior House Democrats on Tuesday night released their proposal to restrict stock ownership and trading by members of Congress, the president and vice president, Supreme Court justices and other high-ranking government officials. The bill, titled the “Combatting Financial Conflicts of Interest in Government Act,” could be introduced on Wednesday, when the House is in session. […]
The Crypto World Is on Edge After a String of Hacks – The New York Times
These loosely regulated ventures allow people to borrow, lend and conduct other transactions without banks or brokers, relying instead on a system governed by code. Using DeFi software, investors can take out loans without revealing their identities or even undergoing a credit check. As the market surged last year, the emerging sector was hailed as […]
Crypto Investors Got Burned by Celsius. Then They Battled Back. – WSJ
Thousands of Celsius customers are gathering on social media apps such as Telegram and Reddit to parse legal filings together, pooling funds to pay for lawyers and making YouTube summaries of developments at court hearings. Some are reading up on U.S. bankruptcy law, providing translations for non-English speakers and trying to engineer their own white-knight […]