Daily Archives: January 17, 2023, 9:19 am

SEC Awards More Than $5 Million to Whistleblower

The Securities and Exchange Commission today announced an award of more than $5 million to a whistleblower whose information led to a successful SEC enforcement action. The whistleblower provided a tip and additional information that helped SEC staff shape its investigative strategy, identify witnesses, and draft document and information requests. The whistleblower also internally reported concerns prior to submitting information…

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AmerisourceBergen Spat Gives Investors Edge in Corporate Suits

A first-of-its-kind ruling in a case against AmerisourceBergen Corp. could give investors more time to hold corporate leaders accountable for their company operations. The Delaware Chancery Court applied a new framework for evaluating allegations of wrongdoing over a long period of time: Treat the alleged instances of a wrongful act as part of a sequence, and then each instance gives…

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SPAC-Related Securities Suit Dismissals Could Be Significant for Other Cases | The D&O Diary

In two dismissal motion grants last week in pending SPAC-related securities suits, the respective courts’ rulings could have potential significance for other pending or prospective SPAC-related cases. The January 10, 2023, ruling in the SPAC-related suit involving DraftKings has important implications for the many pending SPAC-related cases based on short seller reports, and the January 11, 2023, ruling in the…

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