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The Recorder

SEC Charges Theranos, CEO Holmes, and Former President With Investor Fraud

CEO Elizabeth Holmes has agreed to pay a $500,000 penalty, return the remaining 18.9 million shares she obtained during the fraud, and relinquish her voting control of Theranos.
4 minute read

Delaware Business Court Insider

Important Lessons From 'In re Oxbow Carbon' for Drafting Joint Venture Exit Provisions

The Delaware Court of Chancery recently issued an opinion that offers useful guidance for parties seeking to draft joint venture exit provisions.
10 minute read

The Recorder

Supreme Court Narrows Whistleblower Protections Under Dodd-Frank

Employees must report to the Securities and Exchange Commission to state a retaliation claim under Dodd-Frank, internal reporting alone is no longer sufficient.
5 minute read

The Recorder

FinTech Company Hit With 6-Figure SEC Penalty for Faulty Stock Option Disclosures

San Francisco-based Credit Karma, a pre-IPO financial technology company, agreed to pay a $160,000 penalty after the SEC found that it failed to offer employees financial statements and risk disclosures in conjunction with company-offered stock options.
3 minute read

National Law Journal

How Boies Schiller Landed This $10.2 Billion Bitcoin Suit

The lawsuit, filed in federal district court in Miami on behalf of the estate of David Kleiman, a paralyzed IT security expert who died in 2013, may incidentally establish whether Craig Wright is, in fact, the pseudonymous Satoshi Nakamoto, said to be the inventor of bitcoin.
4 minute read

The American Lawyer

Former SEC Official, Bank of America GC Lynch Rejoins Davis Polk

A little less than a year after his retirement as a Bank of America executive and top in-house counsel, Gary Lynch is back at Davis Polk, where he once spent a dozen years as a partner.
3 minute read

New York Law Journal

Shkreli Gets Seven-Year Prison Sentence for Stock Fraud Conviction

Former pharmaceutical executive Martin Shkreli has been sentenced to seven years in prison after his conviction on three securities fraud counts.
6 minute read

Litigation Daily

Daily Dicta: Taking a Risk Paid Off for Litigator of the Week Jeffrey Kessler

One, they say, is the loneliest number. It's even lonelier when you're facing treble damages topping $1.7 billion.
9 minute read

New York Law Journal

Lehman Ordered to Pay $2.4B to Close Out Mortgage-Backed Claims

What's left of the former investment bank Lehman Brothers will be responsible for $2.38 billion in compensation to hedge funds and institutional investors who were hurt by the bank's actions leading up to the financial crisis a decade ago.
2 minute read

New York Law Journal

Sister of Financier Benjamin Wey Also Has SEC Charges Dropped

In a letter to U.S. District Judge Kevin Castel, the SEC said it was dismissing its case against Tianyi Wei, without explaining its reasoning.
2 minute read

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