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National Law Journal

Securities

By | December 19, 2016
27 minute read

The American Lawyer

Wells Fargo Scandal Spins Off Work to Web of Law Firms

Lawyers at Shearman & Sterling, Munger, Tolles & Olson and Williams & Connolly are among those tapped by the bank and its executives to defend government investigations and class action suits.
39 minute read

Connecticut Law Tribune

VC Exec Sentenced for $300K Fraud on Clients

U.S. District Judge Victor Bolden in Bridgeport sentenced Joseph McAndrew to 30 days in jail and six months of home confinement.
5 minute read

Corporate Counsel

Four Steps of Cooperation During an SEC Investigation

Here are key steps that both in-house and outside counsel should take each time they are faced with an SEC investigation in order to best position a company for credit.
18 minute read

New York Law Journal

The Business Judgment Rule and Corporate Data Breaches

In their Corporate and Securities Litigation column, Margaret A. Dale and Mark D. Harris examine a case in which a district court in Georgia dismissed one of the first shareholder derivative actions that challenged the adequacy of a corporation's data-breach prevention strategy. They note that while that court held that the business judgment rule shielded the company's actions, it remains to be seen whether that position becomes the majority one.
17 minute read

New York Law Journal

Supreme Court Refuses Hank Greenberg's Bid to Block NY Fraud Trial

The U.S. Supreme Court denied certiorari on Monday in an appeal by the former AIG executive and his lawyers at Boies, Schiller & Flexner.
9 minute read

New York Law Journal

Context Matters: 'Omnicare' Revisited

Israel David and Samuel P. Groner of Fried, Frank, Harris, Shriver & Jacobson examine how courts in the Second Circuit, in the year and half since 'Omnicare' was decided, have applied three considerations in determining whether in context an opinion statement is misleading. These cases suggest that courts are increasingly open to viewing statements that might have been misleading in a vacuum as not misleading when properly understood in context and therefore not susceptible to liability on an "omissions" theory.
20 minute read

The Legal Intelligencer

Second Circuit Relaxes Burden for Proving Price Impact, Loss Causation

On Sept. 27, the U.S. Court of Appeals for the Second Circuit affirmed the Southern District of New York's post-trial rulings in the long-pending securities class action, In re Vivendi Universal, S.A. Securities Litigation, 838 F.3d 223, 2016 U.S. App. LEXIS 17566 (2d Cir. 2016). After a three-month trial, a jury entered a verdict against Vivendi, finding that, during the Oct. 30, ­2000-Aug. 14, 2002, class period, the company made 57 material misstatements that artificially inflated its stock price in violation of Section 10(b) of the Securities Exchange Act of 1934 and the U.S. Securities and Exchange Commission Rule 10b-5.
12 minute read

New Jersey Law Journal

Enforcement Director Ceresney to Leave SEC

9 minute read

National Law Journal

SEC Enforcement Director Andrew Ceresney to Leave Agency

Andrew Ceresney, the U.S. Securities and Exchange Commission enforcement director, will leave the agency by the end of the year, the SEC said Thursday.
10 minute read

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