Daily Archives: March 24, 2023, 8:06 am

Greenberg Traurig New Jersey Expands White Collar Defense and Litigation Capabilities with Addition of Kevin G. Walsh | Greenberg Traurig LLP

Global law firm Greenberg Traurig, LLP has expanded its White Collar Defense & Special Investigations and Litigation practices with the addition of Kevin G. Walsh as a shareholder in the New Jersey office. Walsh joins from Gibbons P.C., where he co-chaired that firm’s Government & Regulatory Affairs Group and was a member of its Executive Committee. During a period of his…

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Do Kwon TerraUSD Creator Arrested in Montenegro, Charged With Fraud – Bloomberg

Terraform Labs co-founder Do Kwon, who presided over a more than $40 billion cryptocurrency implosion last year, was arrested in Montenegro and charged with fraud by US prosecutors. The developments came just over a month after the US Securities and Exchange Commission sued the 31-year-old as well as Terraform Labs. It is unclear whether his arrest was at the request…

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Redwire Must Face Investors’ ‘Tone at the Top’ Securities Suit

Redwire Corp. investors can move forward with a relatively novel securities fraud suit alleging some senior officers set a problematic tone about the space tech company’s internal controls. Investors argue that Redwire was plagued by a “tone at the top problem,” referring to management’s attitude toward internal controls and ethics. Investors said they would’ve realized that investing in Redwire was…

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The SEC Is Coming for Coinbase – Bloomberg

On the other hand I think that the SEC’s response is straightforward and obvious: There absolutely are existing, reasonably clear rules about how you register securities. Yes, you’re right, it’s impossible for crypto tokens to follow those rules. Oh well! Guess that means crypto exchanges are illegal. The position of Coinbase — and of the crypto industry more broadly — is “look,…

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Block Stock Drops on Hindenburg Short Report It Vows to Fight – Bloomberg

Block, formerly known as Square Inc., intends to work with the Securities and Exchange Commission “and explore legal action against Hindenburg Research for the factually inaccurate and misleading report they shared about our Cash App business today,” the company said in a statement. “We have reviewed the full report in the context of our own data and believe it’s designed…

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Accounting-Fraud Indicator Signals Coming Economic Trouble – WSJ

Unless you study accounting, you have likely never come across the M-Score, which is the number underlying both the Enron episode and the economywide concern now. The “M” is for manipulation, and uses a company’s financial statements to determine whether it is engaging in manipulation. Since the 1990s, the metric has been used to identify red flags at individual companies.…

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‘Can’t get their act together’: Crypto firms slam SEC, Washington for lack of clarity on rules

On Wednesday, the SEC sent exchange Coinbase a Wells notice, warning the company that it had identified potential violations of U.S. securities law. The SEC also unveiled fraud and unregistered securities charges against crypto founder Justin Sun and celebrities that endorsed the digital coins he was pushing. The SEC is currently in legal disputes with a number of other companies…

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