By Sue Reisinger | November 20, 2019
The U.S. Securities and Exchange Commission filed 95 new enforcement actions against public companies in fiscal year 2019—the most actions filed in the past 10 years of tracking the numbers, the New York University Pollack Center for Law & Business and Cornerstone Research reported Wednesday.
New York Law Journal | Analysis
By John C. Coffee Jr. | November 20, 2019
Mutual funds have become significant investors in IPO financings, typically seeking two types of provisions: (1) redemption rights that allow them to escape (possibly if the IPO is delayed), and (2) a pricing "ratchet" that entitles them to additional shares in the event that the IPO prices below the valuation reflected in the final private-equity round. With WeWork's recent spectacularly failed IPO as an example, John C. Coffee Jr. discusses ratchet provisions in this month's edition of his Corporate Securities column.
New York Law Journal | Analysis
By Elkan Abramowitz and Jonathan S. Sack | November 20, 2019
In their White-Collar Crime column, Elkan Abramowitz and Jonathan S. Sack discuss materiality in the context of RMBS trading. Their analysis of recent Second Circuit cases underscores the importance of determining how most effectively to counter government claims of materiality in securities fraud cases.
By Jane Wester | November 18, 2019
Shkreli gained notoriety as the "pharma bro" when he was CEO of Turing Pharmaceuticals, where sudden increases in the price of lifesaving drugs attracted media coverage and questions from Congress.
By Jeff Berman | November 18, 2019
A securities adviser recruited investors in a $1.2 billion real estate Ponzi scheme whose founder has been sentenced to prison.
By R. Robin McDonald | November 13, 2019
Roswell attorney Marc Celello was accused of joining with principal client and boss James Torchia to lure investors into buying unregistered promissory notes for subprime automobile loans and life insurance policies, even though the Credit Nation and affiliated limited liability firms were operating at a significant financial loss.
By Samuel P. Groner and R. David Gallo | November 13, 2019
In the wake of the 'Cyan' decision, the number of 1933 Act claims brought in state court has increased dramatically, with the most significant increase occurring in New York.
New York Law Journal | Analysis
By Samuel P. Groner and R. David Gallo | November 13, 2019
In the wake of the 'Cyan' decision, the number of 1933 Act claims brought in state court has increased dramatically, with the most significant increase occurring in New York.
By C. Ryan Barber | November 12, 2019
Welcome to Compliance Hot Spots, our Law.com white-collar, regulatory and compliance briefing. Feedback and tips are welcome, and appreciated. Thanks for reading!
By R. Robin McDonald | November 12, 2019
The agreement said lead counsel intend to apply for an award of attorney fees not to exceed 25% of the settlement fund.
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