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A New Era of Enforcement on 10b5-1 Trading Plans: Implications of United States v. Peizer
The authors write "This past June the U.S. Department of Justice (DOJ) secured its first insider trading conviction relating to the defendant’s use of a Rule 10b5-1 trading plan. The jury’s verdict in United States v. Peizer marks a major milestone in securities law enforcement. In particular, the Peizer case puts pressure on the defense that 10b5-1 plans provided corporate insiders. Separately, the verdict suggests a new era of enforcement priorities and tactics, and provides instructive insights for practitioners and professionals."
Big Tech and Internet Companies Slammed With Consumer Class Actions in December
A flurry of class actions pummeled the tech industry last week, targeting companies such as Amazon, Google, Apple, GoodRx and mobile gaming platforms.
Fifty Years After Nixon, Progress on Amending Rule 17(c)
The authors write "Commentators long have pointed to the unfairness of applying the strict test used to assess a prosecutor’s subpoena to a sitting president in United States v. Nixon, 418 U.S. 683 (1974), to run of the mill subpoenas criminal defendants utilize to seek documentary material from third parties pursuant to Fed. R. Crim. P. 17(c). See Robert J. Anello & Richard F. Albert, Escaping ‘Nixon’s’ Legacy: the Proper Standard for Rule 17(c) Subpoenas, N.Y.L.J. (April 2, 2013). Triggered by a 2022 request from the New York City Bar Association, a subcommittee of the Advisory Committee on Criminal Rules, the official body charged with addressing proposed federal rule changes, has undertaken a comprehensive review of Rule 17."
2nd Circuit Revives Connecticut Lawyers' Challenge to Anti-Discrimination Ethics Rule
“At this stage in the proceedings, Appellants have alleged plausibly that they intend to engage in speech proscribed, at least arguably, by a recently enacted, focused regulation," Chief Judge Debra Ann Livingston wrote for the panel.
Cannabis 'Cannibalization' Among Concerns of NYS Pot Attorneys
Cannabis lawyers are concerned about the over-saturation of New York's legal marijuana industry, which now has 261 stores, and is closing in on $1 billion in combined sales since early 2023.
Court System Names New Administrative Judges for New York City Courts in Leadership Shakeup
The court system's announcement on the new appointments comes days after the New York Law Journal reported that officials are reshuffling leaders for New York City's family courts.
Morgan Stanley Hit With $15M Fine After Advisers Take Millions
The U.S. Securities and Exchange Commission said that Morgan Stanley failed to detect hundreds of unauthorized transfers that occurred between May 2015 and July 2022 and to “reasonably supervise” its employees.
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