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SEC Fines Yahoo! Inc. $35 Million for Failure to Report Cybersecurity Breach
  • Bressler, Amery & Ross PC
  • USA
  • May 1 2018

The U.S. Securities and Exchange Commission (“SEC”) fined Altaba, Inc., formerly known as Yahoo! Inc., $35 million for misleading investors

SEC Proposes Modifications to Rule 15c2-12 to Increase Event-Driven Disclosures by Municipal Issuers
  • Kramer Levin Naftalis & Frankel LLP
  • USA
  • June 29 2017

Disclosure in the municipal securities markets has been a focus of the Securities and Exchange Commission for some time, but it has recently returned

Municipal Advisor, School Consultant, and Associated Individuals Enter Settlement Offers with SEC after First-of-Its-Kind Municipal Advisor Antifraud Enforcement Action
  • Bracewell LLP
  • USA
  • July 21 2016

On June 13, 2016, the Securities and Exchange Commission (SEC) accepted the settlement offers made by two firms and three executives charged with

The Scope Of SEC Defendants' Jury Trial Right: Part 2
  • Wilmer Cutler Pickering Hale and Dorr LLP
  • USA
  • July 11 2016

This is the second of four articles examining the scope of the Seventh Amendment jury trial right for civil defendants in U.S. Securities and Exchange

SEC charges Revlon with misleading shareholders in going-private transaction
  • Holland & Knight LLP
  • USA
  • June 24 2013

On June 13, 2013, the Securities and Exchange Commission (SEC) issued an order instituting settled administrative proceedings in which Revlon

Second Circuit provides guidance on what constitutes “domestic” securities transactions for Section 10(b) liability
  • Latham & Watkins LLP
  • USA
  • April 4 2012

In 2010, the US Supreme Court held in Morrison v. National Australia Bank Ltd. that Section 10(b) of the Securities Exchange Act of 1934 only applies to “transactions in securities listed on domestic exchanges and domestic transactions in other securities.”

CFTC adopts new anti-manipulation and anti-fraud rules
  • White & Case LLP
  • USA
  • November 7 2011

On July 7, 2011, the Commodity Futures Trading Commission (“CFTC“) issued final rules under the new anti-manipulation and anti-fraud provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank“)1.

New Jersey District Court dismisses securities fraud action with prejudice
  • Katten Muchin Rosenman LLP
  • USA
  • October 28 2011

The plaintiff, a former officer of Alfacell Corporation, a biopharmaceutical company engaged in the development of cancer therapies, brought an action against his former employer, alleging violations of Section 10(b) of the Securities and Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5.

Second Circuit holds that falsity of estimates of goodwill and loan loss reserves for purposes of Sections 11 and 12(a)(2) of the Securities Act of 1933 hinges on the speakers' subjective belief in the estimates' accuracy
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • September 13 2011

In Fait v. Regions Financial Corp., No. 10-2311-cv, 2011 WL 3667784 (2d Cir. Aug. 23, 2011), the United States Court of Appeals for the Second Circuit affirmed the dismissal of claims under Section 11 and Section 12(a)(2) of the Securities Act of 1933 (“1933 Act”), 15 U.S.C. 77k, 77l(a)(2), alleging that statements concerning goodwill and loan loss reserves contained in a prospectus and registration statement were false and misleading.

CFTC approves anti-manipulation and anti-fraud rules
  • Ropes & Gray LLP
  • USA
  • August 26 2011

On August 15, 2011, the Commodity Futures Trading Commission’s final rules expanding its ability to pursue fraud and manipulation claims in connection with any futures, swaps, or “contracts of sale of any commodity in interstate commerce” took effect.