Barring any unexpected road bumps, my typical candidate seeking an equity partner position can expect the process to take about four months from start to finish – or, more aptly, “door to door.” However, I often begin meeting with candidates many months prior to the point at which they hit the “start” button and we begin approaching firms. Counsel and…
No two prosecutions are alike, but the difference in outcomes in these two cases is striking. To be sure, FTX and Bankman-Fried, as the government alleged and the jury ultimately found, engaged in the most consequential financial crimes — systematic fraud upon customers and investors — while Binance and Zhao pleaded guilty to “process” crimes. These included failure to register…
Lyft Inc. Chief Executive Officer David Risher’s response to a clerical error that unintentionally inflated the company’s earnings outlook on Tuesday and sent shares soaring: “My bad.” “First of all, it’s on me,” Risher said in an interview with Bloomberg Television on Wednesday, taking the blame for a typo in a company press release Tuesday that erroneously projected a particular…
Elon Musk and the Tesla shareholder who won a verdict last month voiding the CEO’s $56-billion pay package will ask a judge to pause her ruling until an appeal is resolved, according to a Tuesday letter to the court from the shareholder’s attorney. Greg Varallo, the shareholder’s attorney, told Reuters the two sides will agree to a stay if they…
Late last month, a Delaware judge sharply criticized Ms. Denholm’s leadership while striking down Mr. Musk’s 2018 compensation package, which is worth more than $50 billion. Ms. Denholm took a “lackadaisical approach to her oversight obligations” at Tesla, said Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery. The judge also questioned whether Ms. Denholm could be independent…
On 1 February 2024, the FCA working with the National Crime Agency (NCA) conducted a major operation to arrest 3 London based individuals on suspicion of insider dealing, conspiracy to insider deal and money laundering linked to organised crime. More than 38 FCA and NCA officers were involved in the operation at the 3 residential London properties. Several digital devices…
The charges and settlement with Robinhood represent the latest development in a growing trend of concern amongst securities regulators regarding how modern broker-dealers and investment advisors interact with their customers in the digital age. Although the United States Securities and Exchange Commission (the “SEC”) has not enacted a fiduciary duty standard as extensive as that in Massachusetts, the SEC recently…
France’s top court upheld an earlier decision that Bloomberg LP could be sanctioned after its journalists published information from a fake press release in 2016 that sent Vinci SA shares tumbling. In a statement released with its ruling on Wednesday, the Cour de Cassation, France’s supreme court, said it agreed with a 2021 ruling by the Paris court of appeal…