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New York Law Journal

Fraud Suit Violates NY's Champerty Doctrine, High Court Rules

New York's highest court declined to reinstate breach-of-contract and fraud claims against an asset manager accused of making bad mortgage-based investments, finding that the suit represented a violation of the state's champerty doctrine.
9 minute read

New York Law Journal

U.S. Commodity Futures Trading Commission v. Deutsche Bank AG

By | October 27, 2016
Monitor Appointed to Oversee Bank's Compliance With Dodd-Frank Swap Disclosure Requirements
4 minute read

The Recorder

Schueneman v. Arena Pharmaceuticals, Inc.

By | October 26, 2016
4 minute read

The Recorder

Ninth Circuit Backs Shareholders in Suit Against Pharma Firm

Calling the case a 'close call,' Judge Jay Byee said Arena Pharmaceuticals must face fraud claims over its failure to disclose an unfavorable drug study.
6 minute read

New York Law Journal

The Effect of 'Trulia' on Takeover Litigation

Corporate and Securities Litigation columnists Margaret A. Dale and Mark D. Harris examine the effect of in 'In re Trulia, Inc. Stockholder Litigation' on "disclosure-only" settlements, in which the parties agreed to a broad release of claims against the companies in exchange for limited additional disclosures regarding the transaction. Shareholders do not receive any direct economic benefit from these types of settlements; the only money that changes hands is a fee paid to the plaintiffs' counsel in exchange for obtaining the supplemental disclosures. The article highlights several of the key decisions criticizing disclosure-only settlements and considers how the corporate bar may react.
21 minute read

Texas Lawyer

'Game Not Over' for SEC in Paxton Case, Says Lawyer Who Defended Mark Cuban

The U.S. Securities and Exchange Commission is far from finished in its pursuit of charges over alleged deceptive trading by Texas Attorney General Ken Paxton when he was seeking capital for a tech startup, says the lawyer who successfully defended Mark Cuban in an insider-trading trial two years ago.
9 minute read

New York Law Journal

New Greenwich Litig. Trustee, LLC v. Citco Fund Servs. (Europe) B.V.

By | October 25, 2016
Dismissal of Derivative Suits Arising From Ponzi Scheme Under In Pari Delicto Doctrine Affirmed
3 minute read

New York Law Journal

Trial Kicks Off in SEC Fraud Case Against Financier Lynn Tilton

An attorney for Lynn Tilton told Administrative Law Judge Carol Fox Foelak that major Wall Street "sharks" went in with their eyes wide open in investing in three collateralized loan obligations run by Tilton and her Patriarch Partners group, now accused of fraud by the Securities and Exchange Commission.
9 minute read

Connecticut Law Tribune

Firm Accused of Illegally Reaping $500,000 Short-Swinging Stocks

The Connecticut-based investment group allegedly violated the Securities Exchange Act when it sold 700,000 shares of a pharmaceutical company within three months.
5 minute read

New York Law Journal

Looking Beyond Delaware: Exercising Shareholder Appraisal Rights in N.Y.

Michael R. Huttenlocher, of McDermott Will & Emery, discusses the movement toward appraisal actions. Recently, Delaware corporations have experienced an increase in appraisal actions, a tool of activist shareholders who believe their shares have been undervalued in a merger transaction. Given the success that shareholders have had enforcing their appraisal rights in Delaware courts, New York-based companies may also be targeted for appraisal actions. The article examines the law in New York and Delaware.
17 minute read

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