A federal judge ordered Elon Musk to testify again in the U.S. Securities and Exchange Commission’s probe of his $44 billion takeover of Twitter, giving the regulator and the billionaire a week to agree on a date and location for the interview. U.S. Magistrate Judge Laurel Beeler’s order, issued on Saturday night, formalized a tentative ruling she made in December…
Three powerful shareholders are trying to loosen Delaware’s long-held grip over public companies. Tripadvisor, under media executive Greg Maffei, wants to reincorporate in Nevada, over the objection of minority shareholders. Billionaire Barry Diller is awaiting a ruling that could relax Delaware’s scrutiny of transactions like the 2020 split of some of his online businesses. And Elon Musk, who reincorporated Twitter…
Sidley, Milbank, Foley & Lardner and Simpson Land Defense Roles on SEC Action | National Law Journal
The Securities and Exchange Commission’s latest enforcement action—charging several broker-dealers and investment advisers for recordkeeping violations—has sent a wave of defense work to a group of big law firms. Defense counsel for 16 companies and firms charged by the SEC include Foley & Lardner, Milbank, Sidley Austin, and Simpson, Thatcher & Bartlett. The SEC on Friday announced charges against 16 firms,…
New York Attorney General Letitia James on Friday expanded her lawsuit against Digital Currency Group and other cryptocurrency defendants, tripling the size of their alleged fraud scheme to more than $3 billion. James in October sued Digital Currency, its Genesis Global Capital unit, and Gemini Capital, the exchange run by twin brothers Cameron and Tyler Winklevoss. She claimed they caused…
As Sam Bankman-Fried prepares to face sentencing next month for his criminal fraud conviction tied to the epic collapse of FTX in 2022, former customers of the crypto exchange have reasons to believe they could actually recoup their money. *** Lawyers representing the bankruptcy estate of FTX told a judge in Delaware last week that they expect to fully repay…