Daily Archives: February 22, 2024, 5:51 pm

SEC Charges Husband of Energy Company Manager with Insider Trading

The Securities and Exchange Commission today charged Tyler Loudon of Houston, Texas, with insider trading ahead of a February 2023 announcement that London-based oil and gas company BP p.l.c. agreed to acquire TravelCenters of America Inc., a full-service truck stop and travel center company headquartered in Ohio. Loudon allegedly made $1.76 million in illegal profits from his trading. According to…

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“Ask a Recruiter” — How to Prepare for a Law Firm Job Search in 2024 — Macrae

You’ll also need to confidentially share a raft of information with your recruiter that details your key clients, current billable rate, hours worked over the last three years, originations for this time period, and estimates on your portable book of business. Don’t be scared by that last one! The estimates are just this; law firms understand that you can’t guarantee…

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COVID-Related Results Lead to Securities Suit     | The D&O Diary

I think we all recognize that the disruptions from the COVID pandemic continue to reverberate through the economy. Many industries and many companies are still trying to get back to equilibrium. The pandemic continues to impact companies, their operations, and their financial results. A new lawsuit filed against the sporting goods retailer Dick’s Sporting Goods(DSG)  illustrates how the pandemic-related factors…

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Texas crypto company sues SEC for ‘overreach’ on digital assets | Reuters

A Texas cryptocurrency company and an industry group sued the U.S. Securities and Exchange Commission on Wednesday, saying the regulator has overstepped its authority and asking a judge to rule that digital assets traded on exchanges are not securities. Fort Worth-based crypto company Lejilex and lobbying group Crypto Freedom Alliance of Texas (CFAT) claim the SEC has asserted jurisdiction over…

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Sam Bankman-Fried Replaces Trial Lawyers Ahead of Sentencing, Taps Celsius CEO Alex Mashinsky’s Legal Team

Sam Bankman-Fried, in his first appearance in court after being found guilty of defrauding billions of dollars from FTX customers, said his trial attorneys would no longer represent him as he heads towards sentencing. Instead, his newly hired lawyer, Marc Mukasey, will represent him over the next month. Bankman-Fried, who was found guilty on seven different counts of fraud and…

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Overworked SPAC Auditor’s Lapses Lead to $2 Million Fine

WithumSmith+Brown PC agreed to pay $2 million to settle charges that it shirked US audit rules as it churned out audits of blank-check companies that briefly were Wall Street’s favorite way to take companies public. The Public Company Accounting Oversight Board said in an order Wednesday that the New Jersey firm’s internal safety checks meant to deliver high-quality audits buckled…

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Major Questions Doctrine Hands Power to Judges After Chevron

The major questions doctrine, which has been gaining momentum as the Chevron doctrine withers, could empower judges to invalidate almost any significant agency action that’s inconsistent with the governing philosophy of the president who appointed the judge. The doctrine, in effect, directs courts to reject agencies’ interpretation of statutes on major questions—those of national political or economic significance—unless there’s a…

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