Daily Archives: April 9, 2024, 8:07 am

Alleged Crypto Scheme Operator Loses Appeal Over Asset Freeze

A cryptocurrency mining company’s indicted CEO isn’t entitled to get access to funds, luxury cars, and boats that were frozen in an SEC enforcement case alleging a multimillion-dollar pyramid scheme, the Eleventh Circuit ruled Monday. Luiz Carlos Capuci Jr., who fled to Brazil after the Securities and Exchange Commission began investigating him, didn’t need to be served with lawsuit papers…

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SEC v. Crypto – Bloomberg

In some sense, the Terra result was obvious once the judge allowed the case to go forward: If you think that Terra’s tokens were securities, then of course you are going to find that Terra did securities fraud. This is in part because there is a lot of evidence that Kwon and Terraform were lying to investors about important facts…

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US Supreme Court case marks debut for Stanford prof’s circuit split test | Reuters

The justices and their clerks are obviously quite experienced when it comes to qualitatively assessing purported circuit splits. But in a new amicus brief urging the Supreme Court to grant a petition by chipmaker Nvidia, Stanford Law School professor Joseph Grundfest told the justices about a new methodology he has devised to quantify the significance of circuit splits, based on…

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West Virginia treasurer adds four finance firms to ESG blacklist | Reuters

West Virginia added four financial firms on Monday to a list of institutions that may be barred from some state business because the state’s treasurer deems they are boycotting the fossil fuel industry. It was the latest move in a bubbling dispute between Republican officials and Wall Street firms over use of environmental, social and governance (ESG) factors in banking…

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SEC’s Climate Reporting Freeze Is No Time for Corporate Inaction

Because there isn’t yet a schedule for the challenge, it’s hard to predict whether the court will have reached a final ruling—or if parties will appeal that ruling—before the compliance dates for initial reporting would have come into effect. For example, large accelerated filers would have initial reports due by 2026 for fiscal year 2025 information. Groups and states seeking…

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