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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Brings Insider Trading Charges Against Family Member of Silicon Valley Executive
The SEC’s complaint alleges that Daniel of South Miami, Florida misappropriated material nonpublic information regarding the acquisition during a telephone call with his mother that occurred while his mother was at the home of Daniel’s close relative, a senior employee at Cypress. Daniel, the SEC alleges, learned during this phone call that his family member […]
They Lost Crypto in the Crash. They’re Trying to Get It Back. – The New York Times
About 58,000 customers held cryptocurrencies in the company’s custody accounts. The lawyer whom Mr. Little’s group hired, Kyle Ortiz, plans to argue that those funds — worth $180 million — remain the customers’ property under the terms of service. For Celsius’s interest-bearing accounts, that would be a difficult case to make, legal experts said. But […]
Inside the Crash of Three Arrows Capital
The yacht has since become the subject of endless memes and jokes on Twitter, the functional center of the crypto universe. Pretty much everyone in that world, from the millions of small-scale crypto holders to industry employees and investors, has watched in shock and dismay as Three Arrows Capital, once perhaps the most highly regarded […]
Nationally Recognized Trial Lawyer Randy Mastro Will Join King & Spalding’s Trial and Global Disputes Practice in New York – King & Spalding
King & Spalding announced today that Randy Mastro, a leading New York-based business litigator and trial lawyer, will join the firm as a partner in its Trial and Global Disputes practice group. Mastro previously served as the Chair of the Litigation Practice at Gibson, Dunn & Crutcher for more than 20 years and was a […]
Will Congress Let Crypto Pick Its Regulator? – The American Prospect
The industry wants Congress to give all crypto regulation to the relatively weak and understaffed Commodity Futures Trading Commission. The CFTC regulates mainly futures and some financial derivatives in wholesale markets, but has no proven capacity to regulate the kind of retail transactions and small-investor abuses that are typical of crypto. Shifting crypto regulation to […]
Elon Musk says tweet on buying Manchester United was joke – The Washington Post
Hours after sending the internet into a frenzy with a tweet suggesting that he was buying Britain’s Manchester United soccer club, Elon Musk issued a clarification: It was all a joke. “Also, I’m buying Manchester United ur welcome,” the world’s richest man wrote Tuesday as a follow-up to a tweet that said he supported “the […]
US Regulator ‘Improperly’ Pushing Banks to Avoid Serving Crypto Companies, Lawmaker Says
The Federal Deposit Insurance Corporation (FDIC) may be leaning on banks to prevent them from providing services to cryptocurrency companies, U.S. Sen. Pat Toomey (R-Pa.) said Tuesday, citing communications he had received. In a letter directed to Acting FDIC Director Martin Gruenberg, Toomey wrote that he had heard from “affected parties” and whistleblower communications which […]
SEC Charges Three Chicago-Area Residents with Insider Trading Around Equifax Data Breach Announcement
The SEC’s complaint, filed in the Northern District of Georgia, states that Equifax engaged a Chicago-based public relations firm in August 2017 to assist with handling the inquiries expected to be generated by the announcement of the intrusion and breach. According to the complaint, Ann M. Dishinger, who worked as a finance manager at the […]
SEC Sues Three Entities and Their Founder for Unregistered Crypto Asset Securities Offerings
The SEC alleges that in 2017, Roets, Dragonchain, and the Foundation conducted an unregistered offering of Dragon tokens (“DRGN”) in two phases: (1) a discounted “presale” in August 2017 to members of a crypto investment club, and (2) an initial coin offering (“ICO”) in October and November 2017 marketed predominately to crypto investors. Through this offering, […]
Crypto skeptics have been debating online for years. Now they’re organizing.
Every other Tuesday, a half-dozen people hop onto a Zoom call and talk about how to expose what they see as a global fraud phenomenon: cryptocurrency. The conversation is informal and they talk for only about an hour or so each time, said John Reed Stark, a former government lawyer who participates in the calls. […]