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Litigation Daily

A View From Either Side of the Securities Class Action Bar on a 'Steady' First Half of 2024

In its latest report released this morning, Cornerstone Research says total class action securities filings are essentially on pace with last year. We take a look at the numbers with Robbins Geller's Darren Robbins and Simpson Thacher's Jonathan Youngwood.
4 minute read

National Law Journal

SEC Will Keep Examining, Enforcing Private Fund Advisers' Actions Despite Vacated Rule, Securities Lawyers Say

The agency "could increase enforcement actions based on the rules that they already have on their books," said Teresa Goody Guillen, a partner at Baker & Hostetler.
4 minute read

National Law Journal

Artists Sue SEC in Preemptive Lawsuit Over Whether NFTs Are Securities

"The SEC has gone beyond what people traditionally think of as investment contracts or securities, and they have now started encroaching into the art world, just because the art in their previous cases happened to be digital," Jason Gottlieb, a partner at Morrison Cohen, said in an interview.
4 minute read

Law.com

'We Are Becoming Scapegoats': One Year Post-SEC Cybersecurity Disclosure Updates and Impacting Rulings

"We need more accountability for the organization instead of focusing on the security leaders of these companies who, in many instances, have their hands tied by execs and the board," said George Gerchow, faculty of cybersecurity consulting firm IANS Research. "We are becoming scapegoats. If this trend continues, you will see an even larger gap in security talent willing to put their credibility on the line, as well as facing charges by the SEC and DOJ."
5 minute read

New York Law Journal

US Judge Rejects Securities Class Action Against Cannabis Products Maker

Plaintiffs' theories of scienter were backed by vague and speculative claims, U.S. District Judge Paul A. Engelmayer said.
3 minute read

Texas Lawyer

Largest Crypto Hosting Facility Sues Texas Bitcoin Mining Operation

"The key takeaway is to craft better agreements," said Ishmael Green, a partner at Diaz Reus and a cryptocurrency expert not involved in the litigation.
4 minute read

National Law Journal

Ex-CEO Faces SEC Complaint in Alleged Scheme to Take Over Trump Media

The SEC seeks disgorgement of any alleged "ill-gotten gains" from Miami businessman Patrick Orlando and civil penalties on allegations he gave false statements concealing a plot to acquire Trump Media.
2 minute read

New York Law Journal

Thinking About the Unthinkable—Episode I: Climate Change Disclosures

Everyone realizes that a Trump victory will likely trigger major reversals in securities regulation and SEC policies. In particular, the SEC's much discussed and much litigated climate disclosure rules may be abandoned by a Trump SEC. Alternatively, enforcement actions may just not be brought.
12 minute read

Connecticut Law Tribune

BioXcel Securities Class Action Dismissed

"By framing the risk of third-party noncompliance as a mere possibility when they knew the FDA had issued a Form 483 observing such noncompliance at its audit, Defendants did not provide complete information to reasonable investors; thus, the statement was misleading and is actionable," the court said.
3 minute read

New Jersey Law Journal

Saul Ewing Attorneys to Defend AI Pharma-Tech Company in Securities Class Action

Saul Ewing's Sarah A. Sullivan and Alexander Lee Callo in Newark have recently entered appearances on behalf of an artificial intelligence-driven pharma-tech company sued in a pending securities class action.
4 minute read

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