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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInRetail Investors Plan to Demonstrate at SEC Offices Nationwide
Retail investors will picket outside Securities and Exchange Commission offices across the country on Friday and Saturday, meme-stock internet personalities say. “Occupy SEC 2023” will be an “educational awareness rally,” said Mike Mynar, an event organizer and personality behind TheMarine Activist Channel on YouTube, which discusses and promotes retail investments in meme stocks. Rally attendees […]
Breach of the Duty of Oversight Liability Extends to Officers as Well as Directors | The D&O Diary
In a shareholder claim against the former global head of HR at McDonald’s, the Delaware Chancery Court has held that liability for breach of the duty of oversight, which Delaware courts had previously extended only to corporate directors, can also extend to corporate officers, as well. In addition, in a separate part of the opinion […]
How the Crypto Industry Can Prepare for Regulatory Scrutiny: Earn Respect from Regulators – CoinDesk
Their posture is not, “We’ve seen what’s happened with FTX and others and think it’s time we bring regulation to the space to make it safer.” Rather, it seems to be: “We don’t want to have any responsibility for this space that we think is disreputable and risky, and we certainly don’t want to be […]
Mango Markets to Resume Crypto Trading, SEC Be Damned
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. Secure Your Seat Developers behind the shuttered decentralized crypto exchange Mango Markets say they’re pushing forward with a relaunch of the project – even as the U.S. Securities and Exchange Commission (SEC) alleges the project’s native token, MNGO, is […]
Germany arrests man for suspected M&A insider trading; four other suspects | Reuters
A 47-year-old German man has been arrested on suspicion of insider trading on upcoming M&A deals, one of five suspects who generated millions of euros between 2017 and 2021, Frankfurt prosecutors and German regulators said on Thursday. The authorities said they had been conducting an investigation since November 2021, and that they carried out multiple […]
Sen. Ted Cruz Wants to Force Capitol Hill Vending Machines to Accept Crypto
But Sen. Ted Cruz (R-Texas) has proposed requiring vendors on Capitol Hill to accept cryptocurrency as payment. On Wednesday, Cruz introduced a concurrent resolution that, if adopted, would require the Architect of the Capitol, the Secretary of the Senate and the Chief Administrative Officer of the House of Representatives to only contract with food service […]
U.S. securities regulator probes investment advisers over crypto custody -sources | Reuters
The U.S. Securities and Exchange Commission is probing registered investment advisers over whether they are meeting rules around custody of client crypto assets, three sources with knowledge of the inquiry told Reuters. The SEC has been questioning advisers’ efforts to follow the agency’s rules around custody of clients’ digital assets for several months, but the […]
India’s Adani Group Shares Plunge, Extend Rout From Hindenburg Research Report – Bloomberg
The selloff in Gautam Adani’s corporate empire accelerated on Friday, erasing more than $51 billion of market value in two sessions as Asia’s richest man struggles to contain the fallout from a scathing report by US short seller Hindenburg Research. The rout is piling pressure on the Indian tycoon as it erodes his net worth […]
FTX Opposes New Bankruptcy Investigation as It Probes Bankman-Fried Connections
FTX has objected to a U.S. Department of Justice request for an independent investigation into the once-prominent crypto exchange’s collapse, saying it is already conducting a wide-ranging probe that includes family members of FTX founder Sam Bankman-Fried.FTX said in a court filing in Wilmington, Delaware, late on Wednesday that the DOJ’s proposed review would only […]
FTX Owes Money to Netflix, Crypto Exchange Binance, Wall Street Journal, Filing Shows
It’s the list everyone has been waiting for, minus 9.7 million redacted customer names. But the 116-page FTX creditor list, which names companies including Netflix (NFLX) and Apple (AAPL), still paints a comprehensive picture of the failed crypto enterprise’s reach and the impact of its collapse. Media companies, universities, airlines and charities, among others, appear […]