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New York Law Journal

SCOTUS: State Courts Have Jurisdiction Over Class Actions Under the Securities Act of 1933

In their Corporate and Securities Litigation column, Mark D. Harris and Margaret A. Dale discuss the history of the federal securities laws, the background to and decision in the 'Cyan' case, and the potential implications of 'Cyan' for plaintiffs, defendants, state and federal courts, and Congress.
9 minute read

Delaware Business Court Insider

Court Sustains 'Bad Faith' Claim Challenging Compensation Paid to Allegedly Incapacitated Executive

In Feuer v. Redstone, the Delaware Court of Chancery considered a motion to dismiss derivative claims challenging compensation CBS Corp. paid to nonagenarian Sumner Redstone after he allegedly became physically and mentally incapacitated and ceased rendering meaningful services.
8 minute read

The Recorder

SEC Wallops Yahoo With $35M Penalty Over Breach Disclosures—or Lack Thereof

The company, now known as Altaba, has settled SEC claims that it misled investors about a 2014 data breach which affected more than 500 million user accounts.
4 minute read

New York Law Journal

Exxon Mobil Appeals Dismissal of Bid to Derail State AGs' Climate Change Actions

The energy company, facing probes into whether it deceived shareholders and the public over climate change, saw its suit against the attorneys general tossed in late March.
3 minute read

The American Lawyer

Proskauer Looks to Ditch Still-Pending Stanford Ponzi Suit

Ahead of an upcoming Dallas trial, Proskauer's defense team filed a notice on Thursday with the U.S. Court of Appeals for the Fifth Circuit as part of an effort to escape claims from an official committee of investors who lost money in R. Allen Stanford's massive, long-running Ponzi scheme.
4 minute read

The Recorder

Judge Remands First Tezos Case, Splitting Pioneering ICO Securities Class Actions In 2

U.S. District Judge Richard Seeborg agreed that the first case to be filed against Tezos belongs back in San Francisco Superior Court, in light of a recent ruling by the U.S. Supreme Court on jurisdiction.
2 minute read

Delaware Law Weekly

Navient Seeks Dismissal of Securities Suit Over Student Loan Reporting

Navient Corp. is challenging assertions in a securities class action that top executives at the Wilmington-based Sallie Mae spin-off knew the firm was underreporting to investors the number of delinquent accounts in its student loan portfolio.
3 minute read

The Recorder

Wilson Sonsini Gets Appellate Win in Google Derivative Suits Over 'No-Poach' Agreements

The Sixth District Court of Appeal upheld a lower court ruling which tossed claims against Google execs on statute of limitations grounds.
3 minute read

New York Law Journal

Crypto Industry Sweep: ICOs Under Increasing Scrutiny by U.S. Regulators

Regulators are now taking a more active role in investigating not just ICOs but also the companies developing funds or other investment vehicles focused on cryptocurrencies or ICOs.
12 minute read

New York Law Journal

New Focus on Cryptocurrency, Familiar Questions of Jurisdiction and Territoriality

International Criminal Law and Enforcement columnists Philip Patterson and Vera Kachnowski write: As regulators increase their scrutiny of virtual currency markets, other foreign issuers are likely to come into their crosshairs. What actions such players take to make, or avoid, contact with the United States and whether it is enough for personal jurisdiction will continue to evolve. Similarly, the ability of U.S. securities laws to reach these marketplaces at all will be further tested as the case law develops in the near future.
8 minute read

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