Daily Archives: February 7, 2024, 9:36 am

Adam Neumann Wants We Back – Bloomberg

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…

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Quarles Boosts Government Enforcement Defense Team With Addition of Former Assistant U.S. Attorney Eric Pruitt as Partner: Quarles & Brady

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:…

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China, Battling a Stock-Market Rout, Replaces Its Top Securities Regulator – WSJ

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…

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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…

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Supreme Court Considers Whether Pure Omissions Can Support Section 10(b) Liability | The D&O Diary

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…

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