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Delaware Business Court Insider

'Unwieldy' Securities Class Action Failed to Plead Scienter, 3rd Circuit Rules

The U.S. Court of Appeals for the Third Circuit on Monday blocked an effort to revive a securities class action stemming from the aborted $2.5 billion merger of Cooper Tire & Rubber Co. and Apollo Tyres Ltd., saying that "kitchen sink pleading" in a lower court doomed the plaintiffs' case.
12 minute read

New Jersey Law Journal

Litigation Funding Company's Suit Callss SEC Process Unconstitutional

A litigation funder facing a fraud investigation has asked a federal judge to rule that the Securities and Exchange Commission's administrative enforcement proceedings against unregulated parties are unconstitutional.
10 minute read

New York Law Journal

TD Ameritrade, Inc. v. Kelley

By | August 19, 2016
'Global Lock', Exchange Act §12(j) Prevent Compliance With FINRA Arbitration Award
3 minute read

Corporate Counsel

How Key Energy Got the SEC to Go Easy

When the Securities and Exchange Commission approached Key Energy Services Inc. about bribery allegations in Mexico, the company went into high gear. It launched a major internal investigation and reformed its compliance efforts, including shaking up its legal department.
6 minute read

Daily Business Review

SEC: Company Duped Investors With Bogus News Releases

A West Palm Beach company portraying itself as a high-powered arms manufacturer duped investors while operating out of a virtual office with about $509,000 in cash, according to the Securities and Exchange Commission.
6 minute read

Litigation Daily

Insider Trading Win: When Father Doesn't Know Best

“A family tragedy” is what one juror called the insider trading case against ex-investment banker Sean Stewart, and that sounds about right. Either he's got the worst father in the world, or Stewart knowingly tipped his dad about a series of health care mergers. It's ugly no matter what.
12 minute read

Corporate Counsel

Facing Federal Probe, Fiat Appoints New GC for U.S. Unit

A company spokesperson says the departure is unrelated to allegations against the company.
3 minute read

New York Law Journal

Lindeen Decision: Attack on Blue Sky Preemption Fails

In her Securities Regulation column, Roberta S. Karmel writes: SEC rulemaking in recent years frequently has been attacked by business interests on the right, with some success, particularly with regard to claims that the SEC did not conduct an adequate cost-benefit analysis. 'Lindeen' is interesting because it was an attack by governmental interests on the left. But it failed at the D.C. Circuit, giving a green light to Regulation A-Plus offerings without blue-sky review.
26 minute read

New York Law Journal

Deutsche Bank Natl. Trust Co. v. Flagstar Capital Mkts. Corp.

By | August 17, 2016
2015 Court of Appeals Ruling Mandates 2014 Breach Action's Dismissal as Time-Barred
3 minute read

National Law Journal

Billionaire Investor Steven Cohen Blocked from Managing Commodities Hedge Funds

Federal regulators have barred the billionaire investor Steven Cohen from managing commodity hedge funds until 2018, in a settlement that comes on the heels of a similar agreement with the U.S. Securities and Exchange Commission.
4 minute read

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