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Daily Business Review

Judge Orders $15K Penalty for Former Miami Budget Director

A federal judge ruled a former Miami city budget director should not have to pay nearly half a million dollars after a jury found him liable for securities law violations.
3 minute read

New Jersey Law Journal

Rejecting 'Newman,' SCOTUS Clears Up Rules for Insider-Trading Prosecutions

In a win for federal prosecutors, the U.S. Supreme Court on Tuesday embraced a broad interpretation of insider-trading rules that will allow the government to pursue cases even when it cannot be shown that the insider was trying to benefit from giving the tip.
5 minute read

Corporate Counsel

'Big Short' Investment Advisor Can't Bypass SEC Trial

An investment advisor's claim that the Securities and Exchange Commission improperly chose to pursue him in an in-house administrative proceeding rather than in federal court was dismissed Friday by the U.S. Court of Appeals for the Second Circuit.
7 minute read

Delaware Business Court Insider

Billion-Dollar Ponzi Scheme Case Returned to Chancery Court

A Delaware federal judge has sent back to the Delaware Court of Chancery a proposed class and derivative action over an alleged $1 billion "Ponzi-like scheme" at Texas-based limited partnership United Development Funding III, finding that claims for fiduciary breaches, waste and unjust enrichment called for state, and not federal, review.
9 minute read

New York Law Journal

Investment Advisers: Beware the Broad Confidentiality Clause

Justin Sher, of Sher Tremonte, writes that investment advisers may rely on confidentiality agreements to protect against the disclosure of an investment thesis or algorithm or simply as a means of keeping investors' affairs private. Indeed, Regulation S-P requires registered investment advisers to take steps to "insure the security and confidentiality of customer records and information." However, in light of recent enforcement measures taken by the SEC, advisers should review their confidentiality agreements—including those with investor clients—to make sure these agreements do not violate SEC Rule 21F-17(a), which prohibits the use of confidentiality agreements to deter whistleblowers.
12 minute read

Daily Report Online

Home Depot Blocks Shareholder Derivative Suit Over 2014 Data Breach

Judge Thomas Thrash said the company's executives and board of directors took steps to address data security—even if those steps turned out to be insufficient.
10 minute read

New Jersey Law Journal

The Startup Lifecycle: Equity Share Plans

In the final installment of this series, our hypothetical business owner implements an attractive equity share plan that will enable him to hire top talent and retain his valuable employees.
13 minute read

Daily Report Online

Disclosure Policies: What Every Public Agency Should Know

Every local agency can benefit by developing a disclosure policy that will guide and facilitate its compliance with applicable securities laws.
11 minute read

New York Law Journal

'Big Short' Investment Advisor Can't Bypass SEC Trial

The U.S. Court of Appeals for the Second Circuit on Friday rejected Wing Chau's claims that his case should be decided by a federal court.
7 minute read

New York Law Journal

LG Capital Funding LLC v. Intellicell Biosciences, Inc.

By | December 02, 2016
Quasi Contract Claim Against Third-Party Non-Signatory to Contract Fails, Dismissed
3 minute read

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