Man he is really going to do the funniest trade in the whole history of financial markets…. *** Here is the letter, from Dealbook. The short version of this trade is that Adam Neumann started WeWork, sold it to SoftBank Group Corp. head Masayoshi Son for $47 billion in one of the greatest feats of salesmanship ever, left, watched it…
The national law firm of Quarles & Brady LLP announced today that Eric Pruitt, who spent more than a decade as a federal prosecutor, has joined the firm’s Litigation & Dispute Resolution Practice Group as a partner in the firm’s Chicago office. Source: Quarles Boosts Government Enforcement Defense Team With Addition of Former Assistant U.S. Attorney Eric Pruitt as Partner:…
Crypto criminals will face life imprisonment in South Korea when new consumer protection rules take effect this July, the country’s financial regulator said Wednesday. *** If proceeds from crime exceed 5 billion won ($3.8 million), the perpetrators can face a life sentence, the notice added. Source: South Korea Crypto Criminals Face Lifetime in Jail
The Big Four firms targeted a portion of their millions in Capitol Hill spending last year on a pivotal problem facing the industry: shoring up a dwindling supply of qualified accountants. Deloitte LLP, Ernst & Young LLP, KPMG LLP, and PwC LLP spent a combined $9.4 million directly lobbying Congress in 2023, focusing on issues such as digital assets and…
China has removed its top securities regulator, following a yearslong stock-market decline that has become an increasingly sensitive subject for Beijing officials in recent days. Yi Huiman, chairman of the China Securities Regulatory Commission, is being replaced by Wu Qing, deputy party secretary of Shanghai, according to a state news agency. Source: China, Battling a Stock-Market Rout, Replaces Its Top…
2024 marks our seventeenth year of publishing. It’s been an incredible journey, and we’re proud of our work. It was a difficult decision. We’ll continue posting over the next couple of weeks. We’ll hear from some familiar voices. Then, the curtain will close. Source: The FCPA Blog is coming to an end | The FCPA Blog
Ex-Officials Fret Hacked Firms, Fearing Legal Liability, Will Keep Law Enforcement in Dark | Law.com
Former government officials say they fear the Securities and Exchange Commission’s fraud lawsuit against the IT company SolarWinds and its chief information security officer over its massive 2019-2020 data breach will cause many companies to ”think twice” about reporting cyberattacks to law enforcement. They say that those attacks, often originating overseas, are a mounting threat to the nation’s national security and that close cooperation and information-sharing between the public…
On January 16, 2024, the U.S. Supreme Court held oral argument on a question that could have significant consequences for securities litigants: whether a failure to disclose information under Item 303 of Regulation S-K is, standing alone, an actionable omission under Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. While it remains to be seen what the Court…