In a recent development, the U.S. Securities and Exchange Commission (SEC) has imposed a $1.2 million fine on Oppenheimer & Co. Inc. for failing to adequately disclose conflicts of interest in its municipal bond offerings. This action is part of the SEC’s ongoing efforts to ensure transparency and protect investors in the municipal securities market….
The cryptocurrency industry has witnessed a series of high-profile legal actions culminating in substantial prison sentences for its key figures. These cases underscore the increasing scrutiny and regulatory enforcement within the sector. Do Kwon, co-founder of Terraform Labs, was sentenced to 15 years in prison for orchestrating a $40 billion fraud involving the collapse of…
The legal job market in Washington, D.C. is experiencing a significant shift, as major law firms have increased their recruitment of government professionals by an astonishing 225% this year. This trend reflects a strategic realignment among big law firms to draw upon the deep well of expertise possessed by former government officials. WilmerHale, Covington &…
In an unexpected move, President Donald Trump has issued an executive order directing the federal government to conduct a comprehensive review of the influence wielded by proxy advisory firms such as Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. LLC. This initiative underscores Trump’s administration’s focus on scrutinizing the power dynamics within corporate…
An Illinois federal judge has directed the U.S. Securities and Exchange Commission (SEC) to disclose the identities of agency staff familiar with a chief compliance officer’s whistleblower claims. This order comes as the officer defends against allegations of involvement in a fraudulent stock offering by an energy company described as a “sham.” The ruling underscores…
The U.S. Securities and Exchange Commission (SEC) has been directed by a federal judge to disclose the names of potential witnesses in a fraud lawsuit, escalating a contentious legal battle involving a compliance chief. This decision arose from a suit where the SEC accused the executive of misleading investors through misrepresentations in financial reports. This…
Securitize, a leading digital asset securities firm, has expanded its leadership team by appointing a new General Counsel. The company has attracted high-profile talent by bringing in the designer behind PayPal’s stablecoin. This strategic move signals Securitize’s ambition to strengthen its regulatory and compliance framework as the digital financial ecosystem continues to evolve. The new…
As the legal industry navigates the complexities of 2025, law firms are increasingly grappling with significant professional liability risks. This year, several high-profile settlements and verdicts have underscored the evolving challenges faced by legal professionals. Notably, the backdrop for these developments includes a landscape where data breaches, cybersecurity threats, and evolving client expectations are shaping…
In a nod to history, December 10 marks the anniversary of John Jay’s election as president of the Continental Congress in 1778, a title that prefaced his later role as the first chief justice of the U.S. Supreme Court. Jay was fundamental in laying the groundwork for judicial authority in the early United States. Learn…
Tonix Pharmaceuticals, a clinical-stage biopharmaceutical company, has announced the appointment of David L. Grange as its new General Counsel. Grange, who joins from Lowenstein Sandler LLP, brings extensive legal expertise to his new role, having advised clients across various sectors on regulatory and transactional matters. His experience is seen as a strategic fit for Tonix…
The recent initial public offering (IPO) of Fermi America, an energy company co-founded by former U.S. Energy Secretary Rick Perry and CEO Toby Neugebauer, marked a significant milestone, valuing the company at $13.8 billion. Represented by Haynes Boone, a renowned law firm, this IPO sheds light on collaboration between legal and corporate entities to ensure…
Bernstein Litowitz Berger & Grossmann LLP, a renowned securities litigation firm, recently announced the return of a notable shareholder lawyer to jointly head its corporate governance practice. This move comes amid efforts to stabilize the group’s direction following the departure of its previous leader, who left to establish a boutique firm. The reinstated lawyer brings…
In a significant legal development, a New Jersey judge has approved a $13.2 million settlement involving defunct cryptocurrency lender BlockFi. This resolution follows allegations that BlockFi misled its clients regarding the risks associated with its loan products. The settlement also includes a $2.7 million allocation for attorney fees, awarded to Brian Calandra, a partner at…
In a notable move within the oil industry, Biblical Oil Co. has become the first company to mandate arbitration since a significant shift in securities regulation. This decision follows a recent change in the policy of the U.S. Securities and Exchange Commission (SEC), which has traditionally opposed mandatory arbitration clauses for publicly traded companies. This…
In a significant development for the legal community, the Rosen Law Firm has been sanctioned by a Wisconsin federal judge for initiating what was deemed a “frivolous” securities complaint against an airline holding company. The decision underscores the critical importance of conducting thorough investigations before filing lawsuits, particularly in the complex realm of securities litigation….
The California Department of Financial Protection and Innovation (DFPI) has appointed a former U.S. Department of Justice (DOJ) leader as its new general counsel. This recruitment marks a significant move for the agency as it continues to navigate the complexities of financial regulation and enforcement related to cryptocurrency. The new general counsel previously directed the…
In the competitive legal arena, the spotlight this week shines on Gupta Wessler LLP and Block & Leviton LLP. These firms have earned their place as Law360’s Legal Lions after successfully reviving a proposed class action against NextEra Energy Inc. The Eleventh Circuit’s decision represents a significant development in the case, which addresses allegations of…
Rosen Law Firm has been sanctioned by a federal judge in Georgia over a lawsuit deemed to be without merit. The firm, which is known for its work in securities class actions, was penalized with a fee sanction following a lawsuit filed by investors that the court found “groundless.” This decision underscores the potential financial…
The United States Supreme Court is set to deliberate once again on the contours of private rights of action within federal statutes, as it prepares to hear arguments in the case of FS Credit Opportunities Corp. v Saba Capital Master Fund on December 10. This case continues a complex legal discourse that has unfolded over…
In a recent move that underscores the growing concern over artificial intelligence, a U.S. Securities and Exchange Commission (SEC) working group has pushed for regulations that would standardize how publicly traded companies disclose their use of AI. The panel expressed concerns that investors are not adequately informed about the potential risks associated with AI technologies,…
In November, several General Counsels (GCs) from major corporations made noteworthy stock sales, reflecting the continued scrutiny on executive trading activities. Among these were GCs from companies like Netflix and Robinhood, each executing stock transactions amidst evolving market conditions and company developments. As disclosed by recent filings, Netflix’s General Counsel, David Hyman, sold stock as…
Jeroen van Kwawegen, a prominent figure in the field of securities litigation, has announced the launch of his new firm, JVK Law. The firm, which aims to establish a formidable presence in corporate governance, intends to incorporate at least nine lawyers formerly associated with Bernstein Litowitz Berger & Grossmann, a leading firm in the securities…
In the intricate legal landscape surrounding generic-drug pricing, state attorneys general have voiced concerns regarding the implications of settlements on their ongoing claims. Recently, they have petitioned a Pennsylvania federal judge to ensure that their claims remain unaffected by a newly proposed $200 million settlement between Sun Pharmaceutical, Taro Pharmaceuticals, and several employee benefit plans….
Amidst significant shifts within the legal industry, a new player is poised to enter the realm of high-stakes corporate disputes and securities litigation. Former Bernstein Litowitz Berger & Grossmann LLP attorneys have announced their plans to establish a boutique firm, promising specialized attention to complex legal battles. This strategic move signals a growing trend where…
In a significant development within the realm of corporate litigation, Alex Spiro of Quinn Emanuel Urquhart & Sullivan has been approved to proceed as lead counsel for Elon Musk in the ongoing securities litigation involving Twitter. The decision rendered by U.S. District Judge Charles Breyer of the Northern District of California effectively rejects the notion…