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Join the Securities Litigation and Enforcement Group on LinkedInFormer Department of Justice Senior Official Rejoins Latham
Latham & Watkins LLP is pleased to announce that Kevin Chambers has rejoined the firm’s Washington, D.C. office as a partner in the White Collar Defense & Investigations Practice and member of the Litigation & Trial Department. Chambers returns to Latham after serving as Director for COVID-19 Fraud Enforcement and Associate Deputy Attorney General at […]
Bankman-Fried, Ellison tap attorneys as FTX probes ramp up | Reuters
FTX founder and former chief executive Sam Bankman-Fried and Caroline Ellison, head of its now-defunct trading affiliate, have tapped defense attorneys as U.S. authorities probe the crypto exchange’s collapse, according to a spokesperson for Bankman-Fried and a source familiar with Ellison’s selection. Bankman-Fried has retained Mark S. Cohen, of Cohen & Gresser, Bankman-Fried’s spokesperson Mark […]
Investors Gain Traction Overseas in Securities Fraud Litigation
Investors suing multinational companies for securities fraud are finding their footing in the Netherlands and other courts outside the US. US courts are the epicenter of securities fraud litigation. But legal procedures in other countries’ courts are maturing, and litigation funders are flowing money into these jurisdictions, helping to remove obstacles. Source: Investors Gain Traction […]
More Crypto Exchanges Verify Reserves, But Questions About Assets Remain – WSJ
Cryptocurrency exchanges are setting up systems to verify certain assets and liabilities intended to reassure investors and customers in the wake of FTX’s collapse last month, but these measures give limited insight into the companies’ finances. Several crypto exchanges, including Binance Holdings Ltd. and Crypto.com, in recent months have hired outside auditors to provide a […]
Psychos in the C-Suite – WSJ
A peculiarity of subtle psychopaths is that while they don’t seem to feel shame, they are preoccupied with being thought of as highly moral. Ms. Holmes was simply trying to help sick people get their blood tested more easily. This was part of her origin myth—a relative’s illness made her sensitive to the needs of […]
Theranos Founder’s Former Deputy and Boyfriend to Be Sentenced – WSJ
Ramesh “Sunny” Balwani will be sentenced in federal court in San Jose, Calif., starting at 1 p.m. ET, after being convicted of 12 counts of wire fraud and conspiracy. He denied all the charges and his lawyers are asking for probation or home confinement. Mr. Balwani’s former business partner and ex-girlfriend, Theranos founder Elizabeth Holmes, […]
Lawmakers Unlikely to Be Banned From Trading Stocks, at Least for Now
Despite months of talk in the US Senate and an aborted September vote in the US House, it’s increasingly likely that this congressional session will end without a vote in either chamber on banning members of Congress from trading stocks. Before Republicans take control of the House in January, Democrats are scrambling to keep the […]
Elizabeth Warren’s tough-on-crypto bill is taking shape | Semafor
Sen. Elizabeth Warren, D-Mass. is working on a sweeping cryptocurrency bill that would hand the Securities and Exchange Commission most regulatory authority over the market, according to two people familiar with her efforts. While discussions are still early and details could change, Warren’s office is looking at a range of crypto-related issues, including regulations, taxation, […]
Why Cryptoassets Are Not Securities
The Securities and Exchange Commission’s primary theory on whether a cryptoasset is a security appears to be based upon whether the blockchain project associated with a cryptoasset is, at any point in time, “sufficiently decentralized.”[2] If so, the cryptoasset is not a security. This theory was first proposed by the SEC staff in 2018 to […]
Abandon cryptocurrency, CNBC’s Jim Cramer tells investors
CNBC personality Jim Cramer told investors to dump their cryptocurrency investments during a scathing segment in the wake of FTX’s catastrophic bankruptcy. Cramer, a frequent critic of the cryptocurrency sector, likened current conditions within the cryptocurrency sector to those investors experienced when the dotcom bubble burst in 2000. The polarizing CNBC fixture said investors should […]