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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInWall Street Firm Set to Reap Millions for Untangling FTX Empire
Sullivan & Cromwell, after surviving a push to kick it off the FTX bankruptcy, stands to reap huge fees to sort out the finances of Sam Bankman-Fried’s fallen crypto empire. The Wall Street law firm has more than 150 people working on the FTX case, including 30 partners with rates that exceed $2,000 per hour, […]
Perella Weinberg London HQ Searched in Insider Trading Probe – Bloomberg
Perella Weinberg Partners LP London headquarters were searched this week as part of a German insider trading investigation. The investment bank was searched by officials on Jan. 25. Frankfurt prosecutors are looking into allegations that a London-based employee at the bank disclosed information on planned takeovers and other suspects traded on that, according to people […]
Sam Bankman-Fried’s dog can attack on command using secret word
Disgraced former cryptocurrency mogul Sam Bankman-Fried has reportedly enlisted the services of a 75-pound dog who is trained to attack on command using a secret code word. The family of the fallen FTX founder recently purchased Sandor, a German shepherd who is described by Forbes magazine as “welcoming, but trained to attack with the utterance […]
White House Calls on Congress to ‘Step Up Its Efforts’ on Crypto Regulation
Four senior U.S. officials in the Biden administration published a statement on Friday urging Congress to “step up its efforts” with respect to regulating the cryptocurrency market. The officials – Brian Deese, director of the National Economic Council; Arati Prabhakar, director of the White House Office of Science and Technology Policy; Cecilia Rouse, chair of […]
Retail 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 […]