‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInRed flags for directors: SEC may take magnifying glass to disclosures involving significant judgments in COVID-19 era – Lexology
During a discussion of red flags that should draw directors’ attention, Ms. Stone noted that the SEC may take a magnifying glass to disclosures involving significant judgements and estimates, particularly in the current economic conditions. She quoted her former colleague Steven Peikin, previous Co-Director of the Division of Enforcement, who stated in a speech at […]
There is no wave of COVID-19 shareholders’ class actions (yet) – Reuters
Remember back in mid-March, when the stock market was gyrating and businesses were just beginning to reckon with COVID-19 lockdowns? Corporate defense firms warned that opportunistic shareholders’ lawyers were poised to pounce. Plaintiffs’ lawyers said at the time that they were in no rush to bring class actions against companies that failed to anticipate the […]
COVID-19 and D&O Insurance: July Update | The D&O Diary
As we enter the fifth month of the coronavirus outbreak in the U.S., the COVID-19-related D&O claims continue to accumulate. There have now been a total of 16 COVID-19-related securities class action lawsuits filed. The lawsuits filed so far fall into three basic categories: (1) cases involving companies that experienced COVID-19 in their facilities (such […]
DOJ And SEC Divide And Conquer To Police Coronavirus-Related Securities Fraud | Vinson & Elkins LLP – JDSupra
In early June, federal agencies brought some of the first enforcement actions against COVID-19 securities fraudsters, involving over $100 million in fraudulent claims and profits, making good on their promise to investigate and prosecute those seeking to fraudulently capitalize on the COVID-19 crisis. The cases generally involve misleading claims about companies’ ability to supply COVID-19 […]
June 25 Webcast: COVID-19 Pandemic-Related Compliance, Financial Reporting & SEC Enforcement Considerations
Please join Marion Duffy, Keith Halverstam, Alok Khare, Ryan Maierson, Rob Malionek, and Todd Rahn for this free webcast.
Securities Enforcement Activity in the COVID-19 Era: A Backstop to Private Securities Litigation | Steptoe & Johnson LLP
Securities litigation and enforcement activity often surge in times of crisis. Indeed, bedrock federal securities regulations were borne out of an extended crisis: the stock market crash of 1929 and the decade-long Great Depression that followed. COVID-19 has already set off a wave of securities litigation. These private lawsuits and putative class actions have been […]
What Hath Covid-19 Wrought? A New Skill Set Required for Compliance: Part 1 – Compliance ReportCompliance Report
The Coronavirus health crisis has wrought many changes in the business world and corporate compliance. Over the next few blog posts, I want to explore in some depth what I see are the key changes for the Chief Compliance Officer (CCO), compliance professional and compliance programs as we move to reopening the country and world […]
NYSE floor reopens after coronavirus shuts historic Big Board for two months
The New York Stock Exchange trading floor, closed since March 23, is partially reopening on Tuesday. “I’m ready,” floor trader Jonathan Corpina of Meridian Equity Partners said. “We have been waiting a long time, we are prepared. Our customers are ready.” Corpina acknowledged some trepidation about returning, a feeling of “walking into the unknown.” via […]
Board Oversight of Human Capital Risk—Is it Time to Appoint a Chief Covid Officer?
The coronavirus pandemic has brought many board responsibilities into sharp relief but the board’s responsibility to ensure that management appropriately address and respond to human capital risks takes on particular emphasis. While the responsibility to manage risk in general is inarguable, the unique risks to business performance that a worldwide pandemic poses to human capital […]
SEC Enforcement Division: COVID-19-Related Enforcement Matters and What Lies Ahead | Morgan Lewis – JDSupra
In a recent keynote speech, Co-Director of the US Securities and Exchange Commission’s Division of Enforcement Steven Peikin made it clear that the Division has made coronavirus (COVID-19) related enforcement matters a top priority and is dedicating significant time and resources to respond to such issues. Co-Director Peikin, speaking on May 12 at the virtual […]