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National Law Journal

CFPB Quarrels With OCC Over Arbitration Rule, Clayton's Agenda, and Uber Drivers Win Class Ruling: Roundup

The Consumer Financial Protection Bureau and the OCC are fighting over a new rule that would curtail forced arbitration in the banking industry. Uber drivers win a class certification ruling. SEC Chairman Jay Clayton lays out his agenda. This is a weekly regulatory roundup from ALM and around the web.
4 minute read

New York Law Journal

Securities and Exchange Commission v. Platinum Management (NY) LLC

SEC Fraud Action Stayed Pending Resolution Of Criminal Case Against Individual Defendants
1 minute read

New York Law Journal

Thomas v. Shiloh Industries, Inc.

Plant Controller's Scienter Not Imputed To Firm in Suit Arising From Fraud
3 minute read

The American Lawyer

Linklaters Associate Is Latest Big Firm Lawyer Tied to Insider Trading Charges

Fei Yan, 31, was arrested on Wednesday on insider trading charges in a case that alleges he profited from knowledge garnered by his wife, a Linklaters associate working on M&A deals.
11 minute read

New York Law Journal

14 Indicted in Multistate Pump-and-Dump Scheme

A pump-and-dump sting that stretched from New York to San Diego netted 14 in connection with an alleged $147 million stock manipulation scheme, the Eastern District U.S. Attorney's Office announced Wednesday.
2 minute read

New York Law Journal

In Age of Twitter, Do Investors Need Instant Updates?

Gregg Weiner of Ropes & Gray writes: The U.S. Supreme Court will review a ruling from the Second Circuit in 'Leidos', holding that Item 303 creates a duty to disclose that can subject companies to civil liabilities for securities fraud under §10(b). A ruling by the high court, expected to come in the October 2017 term, could significantly impact the scope of potential liability for nondisclosures under §10(b) and change the disclosure practices of public companies.
12 minute read

The American Lawyer

Silence Is Golden When Partners Leave for Top SEC Posts

Law firms whose partners leave for plum jobs with the SEC are not touting the moves.
3 minute read

New York Law Journal

Panel Upholds Pharma Class Suit Dismissal

Shifting fraud theories helped sink an attempted securities class action appeal by former employees of the pharmaceutical company Covis.
4 minute read

New York Law Journal

Roth v. Solus Alternative Asset

Short-Swing Profits Suit Dismissed; Binding Conversion Waiver Eliminated Insider Status
2 minute read

The American Lawyer

Sidley Can't Avoid Suit Accusing It of Ties to Investment Fund Fraud

Sidley Austin is stuck facing a proposed class action accusing it, along with fellow law firm Tonkon Torp and a set of accounting firms and banks, of contributing to an alleged securities fraud by now-defunct investment fund Aequitas Management LLC.
10 minute read

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Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.

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