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New York Law Journal

Amidst Filing Blitz, MDL Sought in Wells Fargo Actions

Have crisis, will see class actions. That's the fate befalling Wells Fargo (again) after news broke that it inappropriately charged some 800,000 auto loan customers with insurance that they didn't want. The move forced tens of thousands into delinquency, according to an internal report.
3 minute read

New York Law Journal

Cece & Co. Ltd. v. U.S. Bank N.A.

Indenture Trustee Bank Lacked Right to Profit From Sale of Remaining REMIC Trust Assets
6 minute read

Delaware Business Court Insider

Preclusion in Derivative Litigation: New Uncertainty

Until the Delaware Supreme Court provides definitive word, managers and stockholders of Delaware corporations must make strategic decisions based on conflicting guidance on whether successive stockholders are barred from seeking to relitigate demand futility allegations.
13 minute read

New York Law Journal

Preclusion in Derivative Litigation: New Uncertainty

In their Corporate Litigation column, Joseph M. McLaughlin and Yafit Cohn of Simpson Thacher & Bartlett write: Until the Delaware Supreme Court provides definitive word, managers and stockholders of Delaware corporations must make strategic decisions based on conflicting guidance on whether successive stockholders are barred from seeking to relitigate demand futility allegations.
28 minute read

New York Law Journal

NMC Residual Ownership L.L.C. v. U.S. Bank N.A.

Breach Suit by REMIC Trusts' Residual Security Interest Holders Should Not Have Been Dismissed
2 minute read

New York Law Journal

Manhattan Federal Prosecutors Halt Case Against Benjamin Wey

Federal prosecutors dropped their case against Wall Street financier Benjamin Wey Tuesday after an evidence suppression order torpedoed their case.
2 minute read

New York Law Journal

The SEC Concludes That Digital Tokens May Be Securities

In their Corporate and Securities Litigation column, Margaret A. Dale and Mark D. Harris write: The flurry of recent Initial Coin Offerings have raised questions as to whether, and in what circumstances, virtual currencies and digital tokens may be considered securities whose offer and sale are subject to federal registration requirements. A recent report by the SEC cautioning investors that digital assets may be securities is a turning point for the token marketplace and other blockchain-based mechanisms of alternative fundraising.
8 minute read

The Legal Intelligencer

Where Have All of the Initial Public Offerings Gone?

On June 29, the Securities and Exchange Commission (SEC) announced that it is permitting all companies to file the paperwork for an initial public offering (an IPO) without immediately disclosing the IPO to the public. Further, companies will be permitted to immediately withdraw an IPO filing. Previously, this "nonpublic review process," known as the "stealth IPO rules," was only available to emerging growth companies. As of July 10, when the so-called "stealth IPO rules" went into effect, all companies, including those that would not be classified as emerging growth companies, have been able to take advantage of a confidential IPO process.
13 minute read

New York Law Journal

Libor Plaintiffs Seek Consolidated Appeal Process

The move attempts to streamline the unwieldy flow of appellants coming out of a U.S. district courtroom into two groups.
3 minute read

New York Law Journal

Citibank Agrees to $130M Accord With Libor Plaintiffs

The bank is the second in the sprawling suit to settle with so-called over-the-counter purchasers in the consolidated case in the Southern District.
5 minute read

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