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New York Law Journal

Considerations When Amending Existing Partnership Agreements

In this Real Estate Securities column, Peter M. Fass discusses discusses considerations for existing or new partnership agreements under the new partnership level audit rules, which are effective for tax years beginning after Dec. 31, 2017.
18 minute read

The Legal Intelligencer

Second Circuit Applies Lenient Standards for Certifying Classes in Securities Litigation

On Nov. 6, a three-judge panel of the U.S. Court of Appeals for the Second Circuit issued an opinion in Waggoner v. Barclays, No. 16-1912, 2017 U.S. App. LEXIS 22115 (2d Cir. Nov. 6, 2017), that—if allowed to stand—will make it significantly easier for plaintiffs to obtain class certification in actions alleging violations of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. Section 78j(b), and Securities and Exchange Commission Rule 10b-5 (10(b) actions) against large, publicly traded companies.
11 minute read

The Recorder

SEC's New Cyber Unit Moves to Tackle 'Scam' Coin Offering

In the first enforcement action initiated by its new "Cyber Unit," the SEC on Monday announced it has secured a court order to freeze the assets of individuals behind a "scam" initial coin offering.
4 minute read

The Recorder

As ICO Suits Pile Up, Cooley Steps In for Tezos

Cooley has stepped in to help defend embattled blockchain startup Tezos as securities class actions pile up over the company's $232 million initial coin offering.
14 minute read

New York Law Journal

Dewey Execs Near Deal to Resolve SEC Suit Following Firm's Collapse

Former Dewey & LeBoeuf executives Stephen DiCarmine and Joel Sanders may be closing in on a deal to resolve securities claims related to a $150 million bond placement the firm secured before its 2012 collapse.
6 minute read

National Law Journal

SEC Moves to Block Challenges to In-House Judges After DOJ Abandons Earlier Litigation Stance

U.S. securities officials, acting swiftly to conform to the U.S. Justice Department's new position in a pending case in the U.S. Supreme Court, on Thursday moved to foreclose new challenges to the lawfulness of the agency's five administrative law judges. The Justice Department now considers ALJs "officers" rather than mere employees of the agency.
5 minute read

New York Law Journal

Four NY Law Firms Recruiting Plaintiffs for Securities Fraud Case Following Child Abuse Allegations

Four New York-based firms have accused RYB Education Inc. of making misleading statements to investors and of failing to implement measures at its kindergartens to protect children from abuse.
16 minute read

National Law Journal

Justices Seem Poised to Curtail SEC's Broad Whistleblower Protections

The U.S. Supreme Court on Tuesday seemed inclined to interpret the Dodd-Frank Act to exclude whistleblower protections for employees who report alleged securities violations only to company management and not to the government.
13 minute read

New York Law Journal

Recent SCOTUS Restrictions Fail to Sink Class Certification in Citi 401(k) Suit

U.S. District Judge Sidney Stein, applying the U.S. Supreme Court's ANZ Securities ruling, removed a previously named plaintiff, while allowing certification against Citigroup investment decision-makers.
4 minute read

National Law Journal

It's 'Gibberish'! Justices Throw Up Their Hands in Dispute Over State Securities Class Actions

The U.S. Supreme Court on Tuesday seemed to agree on one aspect of a 1998 statute aimed at reforming securities litigation: It's all gibberish. An exasperated Justice Samuel Alito Jr. used the word "gibberish" three times during arguments in Cyan v. Beaver County Employees Retirement Fund. The California case asks the high court to interpret the language of the Securities Litigation Uniform Standards Act regarding state jurisdiction over securities class actions.
4 minute read

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