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Join the Securities Litigation and Enforcement Group on LinkedInSEC 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 […]
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, […]
IPO Bust Sends Big Law Work Plummeting 95% From Record Year
There’s some good news for capital markets lawyers: 2022 is over. It was a dismal 12 months for US initial public offerings, which raised just more than $18 billion last year, according to data compiled by Bloomberg. That’s down more than 95% from the record $275 billion raised in 2021, propelled by a boom in […]
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 […]
Elon Musk Faces Trial Over His 2018 Plan to Take Tesla Private – The New York Times
More than four years after he said he had secured the funding to take Tesla off the stock market, Elon Musk will try to defend that statement in a trial that begins on Tuesday in a federal court in San Francisco. The case is brought by investors who claim Mr. Musk, the electric automaker’s chief […]