By Raychel Lean | January 28, 2019
A federal court in Miami ordered real estate developer Woodbridge Group, its 128 affiliate companies and former CEO Robert H. Shapiro to pay $1 billion in penalties and disgorgement for running a Ponzi scheme that hurt 8,400 investors, many of whom were senior citizens.
The Legal Intelligencer | Commentary
By Peter A. Jaslow and Joanna Jiang | January 28, 2019
In May 2015, we discussed the Securities and Exchange Commission's (SEC) amendments to Regulation A promulgated under the Securities Act of 1933, as amended (the Securities Act), informally referred to as Regulation A+ (see “Amendments to Regulation A: Expanding Access to Capital,” The Legal Intelligencer, May 5, 2015).
Corporate Counsel | Expert Opinion
By Mary Hansen and Stephen G. Stroup | January 25, 2019
The decision to conduct an internal investigation is frequently driven by an unexpected event that imposes risk to a company. A shareholder composes a demand letter alleging breaches of fiduciary duty by the board of directors.
By Robert S. Frenchman and Kedar S. Bhatia | January 25, 2019
In two recent criminal cases involving insider trading based on non-public information from government agencies, prosecutors in the Southern District of New York have resurrected an old statute for a new purpose. The novel use of a 19th century statute arms the government with a new and potent weapon for prosecuting insider trading cases.
By Eugene Ingoglia, Anthony Mansfield and Chelsea Pizzola | January 25, 2019
The development of both derivatives- and securities-centric task forces to address insider trading signals intensified regulatory focus on this area of law across financial markets.
By Colby Hamilton | January 24, 2019
The federal judge took Gaia Holdings to task for its late attempts to get a slice of the multimillion dollar settlement of Bank of America's actions ahead of the burst of the housing bubble.
New Jersey Law Journal | Analysis
By David J. Libowsky and Daniel Strashun | January 24, 2019
New Jersey intends to proceed with a plan to impose its own fiduciary rule on brokerage and advisory professionals.
Delaware Business Court Insider | Commentary
By K. Tyler O'Connell | January 23, 2019
The implied covenant of good faith and fair dealing inheres in all contracts governed by Delaware law. In some circumstances, the implied covenant may apply to fill “gaps” in an agreement consistent with the parties' reasonable expectations at the time of contracting.
By C. Ryan Barber | January 22, 2019
Trump's partial government shutdown is now at 33 days and counting, but there's still some agency action. Plus: Pam Bondi's joining Ballard Partners, Rod Rosenstein will leave a white-collar legacy and Skadden Arps settles a foreign-lobbying case with Main Justice. Thanks for reading!
New York Law Journal | Analysis
By Robert A. Schwinger | January 18, 2019
In his Blockchain Law column, Robert A. Schwinger discusses a wave of new enforcement actions brought by the SEC targeting blockchain-based digital token ventures under a variety of provisions in the securities laws. These proceedings show the breadth of the approaches the SEC is taking toward enforcement in this area, perhaps most notably in one case where it appears a “smart contract” blockchain application may have proved to be a bit too smart for its own good.
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