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Join the Securities Litigation and Enforcement Group on LinkedInThe secretary who helped uncover one of America’s strangest Ponzi schemes – The Hustle
The whole thing started because Robin H. Swanson wanted to send flowers. *** Swanson ordered a standard bouquet from the closest florist she could find, a business called Floral Fantasies. The flowers plus delivery cost $23.95. Swanson used her Visa card. The boss’s wife was thankful for the gift. That was that. Or so Swanson […]
Top-Ten List of JRS Twitter-Rebuttals | John Reed Stark
For those considering posting a Tweet offering criticism of any ilk relating to crypto, Web3, DeFi, NFTs, etc., the top ten list of streamlined rebuttals set forth below will prove immensely helpful to counter Tweets that fall into category 3 (Big Crypto Talking Points and Personal Attacks). For example, going forward, when I tweet anything […]
Coinbase Taps Scalia, Top Former Federal Enforcers in SEC Fight
Coinbase Global Inc., which pledged Thursday to “exhaust all avenues” in countering the SEC, is staffing up legally with an ex-Trump Cabinet member and two former federal enforcers. Coinbase’s outside legal team includes former US Labor Secretary Eugene Scalia, who is a Gibson Dunn partner, and two former enforcement directors—Steven Peikin of the Securities and […]
Crypto Industry Is ‘Absolutely’ at War Against Gensler, Warren, Blockchain Association CEO Smith Says
The crypto industry is “absolutely at war” against policy and lawmakers in the U.S., particularly against Securities and Exchange (SEC) Chairman Gary Gensler and Senator Elizabeth Warren (D-Mass.), Blockchain Association CEO Kristin Smith said during a panel Friday at Consensus 2023. “Elizabeth Warren has an anti crypto army. She is advertising on Twitter for her […]
U.S. House Will Have Crypto Bill in 2 Months, Says Rep. Patrick McHenry
The U.S. House Financial Services Committee and House Agriculture Committee will put together legislation to oversee the crypto sector in the “next two months” after holding joint public hearings starting May, said Rep. Patrick McHenry (R–N.C.), chair of the House Financial Services Committee. When asked whether such a bill could be signed by President Joe […]
Dykema’s Bloomfield Hills Office Adds Former Federal Prosecutor Jennifer L. Beidel | Dykema
Dykema, a leading national law firm, today announced the addition of Jennifer L. Beidel as a Member in its Government Investigations and Corporate Compliance Team resident in the firm’s Bloomfield Hills office. Beidel, who is a former Assistant U.S. Attorney in the Southern District of New York, joins Dykema after practicing at Saul Ewing Arnstein […]
An SEC Dissenter Says the Regulator Must Ease Off Crypto | WIRED
But the SEC’s aggressive approach doesn’t sit well with one of its most senior figures. Hester Peirce, one of the SEC’s five commissioners, has formally disavowed the agency’s tactics on multiple occasions. She says the SEC’s actions have been driven by what she calls “jurisdictional maximalization”—launching cases in order to grow its mandate—but haven’t actually helped the […]
Coinbase responds to the SEC’s Wells notice
Last month, we shared that we received a vague and broad Wells notice from the SEC – today we’re sharing our response to the SEC. We provided a written and video submission to the SEC, and we discussed those submissions with the SEC a few days ago. Coinbase is the same company that we were […]
Supreme Court Deals Another Blow to SEC by Allowing Collateral Attacks on Administrative Proceedings to Proceed in Federal Court | Arnold & Porter
Although the Supreme Court in Cochran decided merely a procedural question of federal court jurisdiction, it may open the floodgates to collateral attacks by respondents to pending administrative proceedings and mire the SEC in litigation. As such, Cochran represents another lost battle in the SEC’s ongoing war to preserve its administrative proceedings against constitutional challenges […]
Silicon Valley Start-Up Founder Pleads Guilty To Securities Fraud For Overstating Revenue To Investors | DOJ
Manish Lachwani pleaded guilty in federal court in San Francisco today to wire fraud and securities fraud charges in connection with his scheme to dupe potential investors into supporting the technology start-up he founded and led, announced United States Attorney Ismail J. Ramsey and FBI Special Agent in Charge Robert K. Tripp. The guilty pleas […]