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National Law Journal

DC Circuit Split Tees Up Supreme Court Review of SEC Judges

The Supreme Court may have to decide the future of the SEC's administrative law judges after a rare 5-5 split between the judges on the U.S. Court of Appeals for the D.C. Circuit.
4 minute read

New York Law Journal

Westminster Securities Corp. v. Uranium Energy Corp.

Jury Demand's Withdrawal Granted; Demand Did Not Amend Agreement's Jury Waiver Clause
2 minute read

Corporate Counsel

It's Hui Chen's Last Day as Compliance Counsel to DOJ

Chen, who has criticized President Trump on Twitter, was the first lawyer to hold the new post, but DOJ plans to continue the concept.
2 minute read

New York Law Journal

How Second Circuit's 'Stadnick' Decision Provides Securities Clarity

The U.S. Court of Appeals for the Second Circuit added a valuable point of clarity in securities cases dealing with material omissions this past week, even if 'Stadnick v. Vivint Solar' did little to change how most attorneys say they plan to approach the law.
5 minute read

New York Law Journal

Second Circuit Splits With First Over Securities Disclosure Test

A U.S. Court of Appeals for the Second Circuit panel Wednesday rejected attempts by a plaintiff to assert a First Circuit standard for securities fraud cases dealing with the disclosure of information to investors.
3 minute read

The American Lawyer

Plaintiffs Firms Earn Almost $1B in Fees From 2016 Securities Class Action Settlements

It was a record year for securities settlements and for the plaintiffs lawyers that represented investors in securities class actions.
13 minute read

New York Law Journal

Schneiderman's Latest ExxonMobil Subpoena Faces Resistance From the Bench

Attorney General Eric Schneiderman's push to compel ExxonMobil to produce additional documents as part of its fraud case against the energy company has been clipped, at least for the time being, by Manhattan Supreme Court Justice Barry Ostrager.
3 minute read

New York Law Journal

Disgorgement Subject to 5-Year Statute of Limitations in SEC Enforcement Proceedings

Corporate and Securities Litigation columnists Margaret A. Dale and Mark D. Harris write: For nearly a half-century, when bringing enforcement proceedings for violations of federal securities laws, the SEC has sought a sanction which forces defendants to fork over ill-gotten gains, regardless of how long before the initiation of the proceeding the wrongful conduct generating those gains occurred. Now a unanimous U.S. Supreme Court has put a stop to the SEC's end-run around the limitations period otherwise applicable to agency enforcement proceedings.
8 minute read

The Legal Intelligencer

Taksir v. Vanguard Group, Inc., PICS Case No. 17-0894 (E.D. Pa. May 26, 2017) Rufe, J. (14 pages).

Plaintiffs' claims against the defendant investment company were not pre-empted by the Securities Litigation Uniform Standards Act of 1998 since they did not assert that defendants' alleged misrepresentations regarding brokerage commissions made a significant difference to their decision to purchase securities. The court denied defendant's motion to dismiss in part.
8 minute read

New York Law Journal

Omnicare Figures Prominently in Dismissal of Mining Company Investor Suit

In a decision relying heavily on the 2015 U.S. Supreme Court ruling limiting liability for statements deemed opinions in securities suits, a Manhattan federal judge has dismissed investor claims against gold mining company Pretium Resources Inc.
3 minute read

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