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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInHow to Start Regulating the Crypto Markets—Immediately – WSJ
We, two markets regulators—one who served under President Obama and the other under President Trump—believe that government action should rest not on one view of the future or another, but on the hard-earned lessons of the past. We also know that a search for a comprehensive plan carries significant “Waiting for Godot” risk. The fact […]
Sam Bankman-Fried could face years in prison over FTX meltdown
Sam Bankman-Fried, the disgraced former CEO of FTX — the bankrupt cryptocurrency exchange that was worth $32 billion a few weeks ago — has a real knack for self-promotional PR. For years, he cast himself in the likeness of a young boy genius turned business titan, capable of miraculously growing his crypto empire as other […]
December 14 Webcast: CFIUS and Non-US FDI Regimes – A 2022 Lookback and 2023 Outlook
Please join Scott Boylan, Brian Egan, Nate Fisher and Joe Molosky for this webcast.
Allegations of Bribery to FIFA Officials Results in $95 Million Settlement
With the opening 2022 World Cup matches underway in Qatar, Grupo Televisa S.A.B. recently agreed to a $95 million settlement with shareholders, resolving bribery allegations of FIFA officials. On November 23, 2022, the Mexican multi-media company filed a Form 6-K with the U.S Securities and Exchange Commission announcing the resolution, which noted that $21.5 million […]
For Martin Shkreli and Others, ‘No Comment’ Is Not in the Script – The New York Times
It used to be that money managers and entrepreneurs charged with a crime or civil securities fraud would keep their mouths shut and routinely refer any questions to their lawyers. But in the age of social media, those days are gone. For some media-savvy defendants there is a new script: They jump on Twitter to […]
A Market Hype Cycle Winds Down – WSJ
Crypto was of course a master class in hype, paying off celebrities like Matt “Fortune favors the brave” Damon, Tom Brady, LeBron James and the confused Larry David. Kim Kardashian even paid a $1.26 million fine for pumping the unregistered token EthereumMax. FTX put its name on the Miami Heat’s stadium and Major League Baseball […]
FTX-Gisele Partnership Highlights Risks of Celebrity ESG Roles
When lawmakers and regulators who wrangle over environmental, social and governance issues traveled through Union Station in Washington this summer, they likely passed beneath a billboard showcasing the new ESG advisor for the cryptocurrency platform FTX: Gisele Bundchen. After its catastrophic collapse in November, investors sued not only FTX but its supermodel backer as well, […]
FTX Founder Sam Bankman-Fried Says He Can’t Account for Billions Sent to Alameda – WSJ
FTX founder Sam Bankman-Fried said he couldn’t explain what happened to billions of dollars that customers of his failed cryptocurrency exchange sent to the bank accounts of his trading firm, Alameda Research. And he said he couldn’t rule out the possibility that money deposited by FTX customers who were told their money was theirs alone […]
Florida’s Politicians: Don’t Say ESG | The D&O Diary
On December 1, 2022, in a press release full of statements critical of the investment firm BlackRock and its CEO, Larry Fink, Jimmy Patronis, the Chief Financial Officer of Florida, announced that the Florida Treasury would begin divesting $2 billion of Florida state assets currently under management by BlackRock. The statement makes it clear that […]