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New York Law Journal

Japanese Bank's MBS Suit Against JP Morgan Revived

A Japanese bank that filed eight lawsuits against multiple investment banks in 2013 over mortgage-backed securities saw one court victory last week, when an appellate court allowed its case against JPMorgan Chase to proceed, but two other lawsuits were dismissed.
20 minute read

Daily Business Review

Settlement Reached in Part of 'Cryptsy' Case

Plaintiffs reach a settlement worth about $1 million with the ex-wife of digital currency exchange CEO Paul Vernon, who allegedly absconded to China with clients' money.
5 minute read

New York Law Journal

Securities and Exchange Commission v. McGinn, Smith & Co., Inc.

By | November 04, 2016
Receiver's Plan to Distribute Entities' Pooled Assets to Investors on Pro Rata Basis Approved
3 minute read

New York Law Journal

Facebook IPO Underwriters Not Subject to Disgorgement, Court Rules

Goldman Sachs and other underwriters of the Facebook initial public offering do not have to disgorge short-swing profits made on the deal, a federal appeals court ruled Thursday.
11 minute read

New Jersey Law Journal

SEC v. Hold Brothers On-Line Inv. Servs. Inc.

By | November 03, 2016
Purported Control Persons Unclean Hands Defense Survives SEC's Motion to Strike
5 minute read

New York Law Journal

Securities and Exchange Commission v. Caledonian Bank Ltd.

By | November 03, 2016
Panamanian Broker-Dealer Denied Judgment It Did Not Violate §5 of Securities Act of 1933
3 minute read

The Recorder

PwC Partner Allowed Venture Fund to Divert Millions, SEC Alleges

Pricewaterhouse Cooper's Adrian Beamish failed to scrutinize payments that Burrill Life Sciences Capital Fund III paid to its founder, according to the agency.
8 minute read

The Legal Intelligencer

SEC Priorities: Sustainability, Board Diversity and Cybersecurity Rulemaking

It is no secret that the Securities and Exchange Commission's (SEC) current priorities have shifted into the world of nonfinancial governance matters. Earlier this year, SEC Chairman Mary Jo White expressed concern about existing ­disclosure requirements for board diversity and explained that the SEC staff is reviewing current disclosures with an eye toward providing recommendations for changes. The SEC is also currently exploring rulemaking with respect to sustainability. In April 2016, in connection with the SEC's disclosure effectiveness initiative, the SEC issued Concept Release No. 33-10064 on Business and Financial Disclosure Required by Regulation S-K (the concept release). The concept release sought comment on modernizing certain disclosure requirements under Regulation S-K. In particular, the concept release requested feedback on the importance of sustainability ­matters, including climate change. Corporation Finance Director Keith Higgins recently reported that the highest number of comments on the Concept Release related to "improved sustainability disclosure." In ­addition, there continues to be heightened interest in cybersecurity given the number of data breaches over the last few years, most recently with Yahoo.
16 minute read

New Jersey Law Journal

SEC Launches Critical Cybersecurity Initiative for Registered Investment Advisers

Tips for registered investment advisors in the wake of the SEC's cybersecurity initiative.
12 minute read

The Recorder

Robbins Geller Lands Lead Role in LendingClub Suits

U.S. District Judge William Alsup said Friday that he was satisfied the firm was selected in a bidding process free of "any pay-to-play considerations."
13 minute read

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