Daily Archives: January 29, 2024, 10:02 am

Linklaters Secures Rare Dismissal of DOJ Insider Trading Charges Against Ramkumar Rayapureddy Two Weeks Before Trial | Linklaters

Linklaters’ U.S. Litigation, Arbitration, and Investigations practice has successfully defended Ramkumar Rayapureddy against insider trading charges brought by the Department of Justice (“DOJ”) in the Western District of Pennsylvania. In a nearly unprecedented event, the DOJ dismissed all charges with prejudice just two weeks before trial as a result of Linklaters’ defense. In November 2022, the DOJ charged Mr. Rayapureddy with one…

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ESG liability for companies and directors: a shifting landscape | Reuters

Since the United Nations Global Compact in 2004 first coined the phrase, “environmental, social, and governance” — or “ESG” — has changed the way we think about investing. ESG-related investments have grown 42 percent from 2018 to 2020, and, as of late 2021, “one of every three dollars of assets under management is invested in ESG strategies,” according to Nasdaq.com.…

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Insider Trader Who Made $1 Million on Merck-Pandion Deal Gets Five Months – Bloomberg

A man who made more than a $1 million insider trading on confidential information about Merck & Co.’s 2021 acquisition of Pandion Therapeutics was ordered to spend five months behind bars. Brandon Wong was sentenced Friday by US District Judge Edgardo Ramos in Manhattan. Wong pleaded guilty in April to insider trading based on deal information that his friend Seth…

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Grifols Sues Over Gotham City Short-Seller Report – Bloomberg

Grifols SA sued Gotham City Research over a report alleging the company has overstated profit and misstated its accounting. *** The complaint filed in federal court in New York on Friday says Gotham City and its principals are “predatory short sellers” who illicitly profit from “rigged short-and-distort schemes.” “Unlike other short sellers, defendants crossed the line with their attack on…

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SolarWinds Seeks Dismissal of ‘Unfounded’ SEC Cybersecurity Suit

The public company and Chief Information Security Officer Tim Brown, which the SEC named as defendants, are pursuing a rare challenge to the agency’s first-of-its-kind enforcement action, which alleges securities fraud and controls violations. The defendants claim the SEC’s action, if successful, would broaden the agency’s powers and heighten the requirements for publicly disclosing an organization’s cybersecurity posture. “SolarWinds made…

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Feds Warn Companies Not to Delete Slack, Signal Chats | Law.com

Use Slack or Signal for work? Don’t delete your chat history. The Federal Trade Commission and Department of Justice said Friday that companies under investigation will have to turn over these messages or face potential civil penalties and criminal obstruction charges. “These updates to our legal process will ensure that neither opposing counsel nor their clients can feign ignorance when…

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