Macy’s reported stronger-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid up to $154 million of expenses over several years. The department store chain, which also operates Bloomingdale’s and Bluemercury cosmetics chain in addition to its namesakes stores, was expected to report quarterly results on…
Cadwalader has added Laura Perkins, one of the world’s foremost FCPA lawyers and a skilled investigator and trial attorney, as a partner in the firm’s Washington, D.C. office. Source: Cadwalader Enhances Global Investigations and Regulatory Enforcement Capabilities With Former DOJ Prosecutor Laura Perkins | Cadwalader
Bitcoin trading company Swan Bitcoin has sued Gibson, Dunn & Crutcher in Los Angeles Superior Court, claiming the firm has violated fiduciary duties and ethical standards by withdrawing as its counsel in a trade secrets case when a lateral hire created a conflict of interest. Swan Bitcoin first retained Gibson Dunn in late September in a trade secrets case against…
However, to cynical ears, it all sounds a bit like the passing fad in the late 2010s that involved companies that previously had nothing to do with crypto adding the word “Blockchain” to their corporate name. The most famous example of this was little-known beverage maker Long Island Iced Tea renaming itself Long Blockchain, with an explosive result, at least…
he Securities and Exchange Commission today announced fraud charges against Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment adviser Western Asset Management Company LLC or WAMCO, for engaging in a multi-year scheme to allocate favorable trades to certain portfolios, while allocating unfavorable trades to other portfolios, a practice known as cherry-picking. The SEC’s complaint alleges…
In FY 2024, the SEC maintained a strong focus on crypto and off-channel communications, likely for the last time given the impending administration change. It also began to focus on new priorities that could be relevant in the coming year, particularly artificial intelligence. In addition, the decline in new enforcement actions may stem, at least in part, from the SEC’s…