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Join the Securities Litigation and Enforcement Group on LinkedInRichard Hong Joins Morrison Cohen | Morrison Cohen LLP
Morrison Cohen welcomes Partner Richard Hong to our Business Litigation Practice. Richard is a former federal prosecutor and senior SEC trial lawyer. His practice focuses on representing individuals and entities in the banking, financial, securities and digital assets industries in governmental investigations, civil enforcement actions and criminal prosecutions, as well as in other high-stakes litigations. […]
Casey Lucier Returns to McGuireWoods After Serving on House Jan. 6 Committee | McGuireWoods
McGuireWoods is pleased to announce that Casey Lucier has returned to the firm after completing her service as investigative counsel to the House Select Committee to Investigate the Jan. 6th Attack on the United States Capitol. Lucier rejoins the firm in Washington, D.C., and Richmond, Virginia, as a partner in the nationally recognized Government Investigations & […]
SEC Toughens Insider Trading Rules for Execs, Limits Protections
The SEC is restricting when top executives can unload company shares and is forcing them to disclose more information about their planned stock sales as part of a renewed effort to combat insider trading. The Securities and Exchange Commission on Wednesday voted unanimously to adopt rules that will require company directors and officers to wait […]
Fox Hill Prison Where SBF Held a Far Cry From His Luxury Penthouse – Bloomberg
Despite its bucolic name, Fox Hill is known for overcrowding, poor nutrition, inadequate sanitation and substandard medical care, according to a 2020 US State Department report. The report described rat and maggot infestation as well as tiny cells with only buckets for toilets. *** Lawyers familiar with the extradition process said Bankman-Fried’s failure to win […]
Tom Brady pushed FTX, then the crypto firm failed. Should he pay up? – The Washington Post
When Michael Livieratos saw quarterback Tom Brady in a commercial for the cryptocurrency trading platform FTX, he knew exactly where he wanted to put his $30,000 crypto investment. “As a New England Patriots fan my entire life, you can imagine the influence that Tom Brady would have,” said Livieratos, a 56-year-old legal clerk who lives […]
SEC’s Gensler faces scrutiny over FTX and crypto implosions – The Washington Post
The arrest of FTX founder Sam Bankman-Fried this week amid charges of a billion-dollar fraud corroborates long-standing warnings from critics who have likened the cryptocurrency markets to the Wild West. The question is: Where was the sheriff? *** In the wake of the multibillion-dollar collapse of FTX, some U.S. lawmakers are looking to Gensler’s SEC […]
US Senators Warren, Marshall Introduce Digital Assets Anti-Money Laundering Bill
U.S. Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) are introducing a bill to crack down on money laundering and financing of terrorists and rogue nations via cryptocurrency. If it becomes law, the Digital Asset Anti-Money Laundering Act will bring know-your-customer (KYC) rules to crypto participants such as wallet providers and miners and prohibit financial […]
FTX Hearing in US Senate Reveals Congress Doesn’t Have Immediate Answers
The crypto industry is calling for U.S. regulations as the epic failure of FTX drags at the sector. Most regulators say they can’t do the job without more powers from Congress. So far, a sound-and-fury campaign from lawmakers hasn’t shown a path forward. Any path will almost certainly depend on Sen. Sherrod Brown (D-Ohio), the […]
Goldman Sachs weighs bonus cut of at least 40% at investment bank | Financial Times
Goldman Sachs is considering shrinking the bonus pool for its more than 3,000 investment bankers by at least 40 per cent this year, as chief executive David Solomon tries to control costs with deeper cuts than many of its Wall Street rivals. The final bonus pools at Goldman are still being decided but the prospect […]
Dismissal Motion Ruling Patterns Emerge in COVID-19-Related Securities Suits | The D&O Diary
Since the initial coronavirus outbreak in the U.S. in March 2020, plaintiffs’ lawyers have filed a host of securities class action lawsuits against companies raising a variety of COVID-19-related allegations. Many of these cases have faced significant hurdles at the initial pleading stage, and in a number of cases the dismissal motions have been granted. […]