Daily Archives: June 19, 2024, 10:13 am

Pivot to AI – Bloomberg

Ah yes! Nvidia lulled its shareholders into believing that it was mostly a gaming company, so they bought its stock because they were optimistic about gaming, but really it was mostly a crypto company, and when the crypto market suffered setbacks in 2018 those shareholders lost money. And nothing else happened after that. No, I’m kidding, Nvidia’s stock is up…

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SEC Charges R.R. Donnelley & Sons Co. with Cybersecurity-Related Controls Violations

The Securities and Exchange Commission today announced that R.R. Donnelley & Sons Company (RRD), a global provider of business communication and marketing services, agreed to pay over $2.1 million to settle disclosure and internal control failure charges relating to cybersecurity incidents and alerts in late 2021. *** According to the SEC’s order, data integrity and confidentiality were critically important to…

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SEC Ends Probe Into Consensys, Won’t Sue Over Ethereum 2.0

The price of ether (ETH) rose after Consensys received letters from the U.S. Securities and Exchange Commission (SEC) saying the regulator had ended its investigation into the technology incubator company and was not going to recommend an enforcement action against it. The SEC told Consensys, whose products include the MetaMask wallet, it was not bringing any enforcement actions in a…

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Former Leading New York Federal Prosecutor Joins Quinn Emanuel

Quinn Emanuel Urquhart & Sullivan, LLP, the world’s undisputed leader in business litigation, announced today that Christopher J. Clore has joined the firm as Of Counsel.  A highly experienced trial lawyer, Clore joins Quinn Emanuel from the U.S. Department of Justice, where he served as an Assistant United States Attorney in the U.S. Attorney’s Office for the Southern District of…

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In Nvidia and Meta cases, Supreme Court will review shareholder class action dismissal rules | Reuters

In the Nvidia case, the Supreme Court will decide whether shareholders can establish a company’s fraudulent intent by pointing to internal documents they have not actually seen and whether investors can rely on their own hired experts to prove the company’s representations were false. The 1995 federal law governing shareholder class actions, the Private Securities Litigation Reform Act, requires plaintiffs…

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