In a decision that will undoubtedly shape the landscape of investor protection, the Supreme Court ruled against private investors seeking to use legal recourse against investment companies for contract violations. The case, FS Credit Opportunities Corp. v. Saba Capital Master Fund, brought to the forefront the issue of who has the right to enforce the…
President Donald Trump has announced his intention to nominate Jay Clayton, the current U.S. Attorney for the Southern District of New York and former Chairman of the Securities and Exchange Commission, as the Director of National Intelligence (DNI). This decision follows significant bipartisan criticism of Trump’s previous choice, Bill Pulte, for the acting DNI role….
Partners from leading Australian law firms Ashurst and Allens are scheduled to appear before a federal parliamentary inquiry on June 19, 2026, to address allegations concerning KPMG’s misuse of confidential client data. This inquiry, led by the Parliamentary Joint Committee on Corporations and Financial Services, aims to scrutinize the conduct of KPMG and its handling…
In a noteworthy move during the final months of his administration, President Donald Trump nominated Jay Clayton, the former chairman of the U.S. Securities and Exchange Commission (SEC), to serve as the nation’s intelligence chief. Clayton, known for his extensive experience regulating Wall Street, was selected to lead an entity typically associated with national defense…
The recent decision by the U.S. Supreme Court to uphold the Securities and Exchange Commission’s (SEC) disgorgement power has been met with approval among white-collar defense attorneys. This ruling provides a clearer framework for legal professionals handling clients involved in SEC enforcement actions. The decision offers a sense of certainty and stability, crucial for navigating…
DLA Piper has appointed Abrar Hussain as a partner in its emerging growth and venture capital practice in Palo Alto. Hussain brings over 25 years of experience in the investment funds, biotech, and financial services sectors. His expertise encompasses fund formation, operations, fundraising, limited partnership negotiations, portfolio company support, complex mergers and acquisitions, initial public…
The U.S. Supreme Court’s recent unanimous decision in Sripetch v. Securities and Exchange Commission has reaffirmed the Securities and Exchange Commission’s (SEC) authority to seek disgorgement of ill-gotten gains without the necessity of proving direct investor losses. This ruling resolves a significant circuit split and clarifies the SEC’s enforcement capabilities. In the case, Ongkaruck Sripetch…
Morrison & Foerster, a prominent global law firm, has expanded its footprint by adding partners Yuka Teraguchi Fukuda and Stacey Broughan to its teams in New York and Washington, D.C., respectively. Fukuda, previously with Cadwalader, specializes in structured finance and will contribute her extensive experience to Morrison & Foerster’s finance practice. Meanwhile, Broughan, a former…
GlaxoSmithKline Plc (GSK) has announced its acquisition of Nuvalent Inc. for a considerable $10.6 billion. This strategic move is expected to bolster GSK’s oncology portfolio, reinforcing its commitment to innovation in cancer treatment. The transaction is set to bring Nuvalent’s promising pipeline of kinase inhibitors into GSK’s fold, potentially accelerating the development of new therapeutic…
K&L Gates, an international law firm with a broad spectrum of practice areas, has recently enhanced its San Francisco office by adding a strategic partner specializing in Exchange-Traded Funds (ETFs). This move underscores the firm’s commitment to expanding its capabilities in the investment management sector, aiming to meet the growing demand for sophisticated legal services…
In a critical decision, the U.S. Supreme Court’s recent ruling has reinforced the U.S. Securities and Exchange Commission’s authority in disgorgement cases, providing the agency with a stronger foothold in settlement negotiations. This decision, handed down on Thursday, is expected to significantly impact how future financial misconduct cases are handled, potentially emboldening the SEC in…
The US Supreme Court recently issued decisions that clarify the powers of federal regulators, offering a nuanced stance on agency authority. In FCC v. AT&T, the Court ruled 8-1 in favor of the Federal Communications Commission (FCC), affirming that the FCC’s monetary forfeiture orders do not infringe upon the Seventh Amendment’s guarantee of a jury…
In a recent development raising eyebrows among investor advocates, the U.S. Securities and Exchange Commission (SEC) plans to withdraw its corporate climate disclosure regulations. This move has sparked legal questions and concerns among environmental and investor groups who argue that transparency in climate-related financial risks is essential for informed investment decisions. The SEC’s proposal comes…
In a significant decision for securities enforcement, the Supreme Court has validated the Securities and Exchange Commission’s (SEC) use of disgorgement without the necessity of proving investor pecuniary loss. This conclusion was reached unanimously in Sripetch v. SEC, marking another chapter in the ongoing saga of how disgorgement is to be applied under the law….
The recent debate over whether to expand the number of justices on the U.S. Supreme Court has resurfaced in national discourse, with the public showing a range of opinions. According to a survey by Marquette Law School, Americans are evenly divided on the issue, with 50% in favor and 50% against the idea of increasing…
The anticipated initial public offerings (IPOs) of prominent tech companies such as SpaceX, OpenAI, and Anthropic are creating a surge in demand for legal expertise, channeling substantial work to major law firms. As these companies prepare to enter the public market, the need for comprehensive legal guidance in regulatory compliance, securities law, and corporate governance…
The U.S. Supreme Court recently affirmed the U.S. Securities and Exchange Commission’s (SEC) ability to enforce disgorgement without needing to pinpoint specific victims harmed by fraudulent activities. This decision follows a high-profile challenge aimed at curtailing the SEC’s authority, which has been under scrutiny following a pivotal decision six years ago reported Law360. This reaffirmation…
Recent shifts in the coordination between the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are reshaping the landscape of parallel investigations, a trend observed since the Trump administration. Traditionally, these dual investigations were tightly aligned, enabling a comprehensive approach to enforcement involving both criminal and civil components. However, experts note…
The U.S. Securities and Exchange Commission (SEC) is currently undergoing a period of significant regulatory activity, setting in motion a series of proposals that could reshape disclosure practices for public companies. This spring, the commission proposed to ease disclosure regulations for initial public offerings (IPOs), aiming to streamline the process and potentially encourage more companies…
The Commodities Futures Trading Commission (CFTC) has taken a notable step by aligning with the Securities and Exchange Commission (SEC) in permitting defendants to deny allegations when settling enforcement actions. This policy adjustment aims to provide the CFTC with greater leeway in structuring settlements, potentially enabling quicker investor restitution and enhancing enforcement strategies. The revised…
David Knotts, a prominent figure in the legal world, began his illustrious career immediately after graduating from Cornell University Law School. As a native of Kansas City, Missouri, Knotts initially carved his path at one of the world’s largest corporate defense firms. However, his transition to Robbins Geller Rudman & Dowd LLP marked a pivotal…
An insider trading case has captured attention within the legal industry, with allegations centering on information reportedly taken from some of the largest law firms in the United States. The case involves over two dozen defendants, many of whom have secured legal representation from lawyers known for handling high-profile clients such as Donald Trump, Harvey…
Proskauer Rose LLP has announced the addition of finance expert Bryon Mulligan to its ranks as a partner in the Charlotte office, marking a strategic expansion of the firm’s finance practice in the Southeastern United States. Mulligan, who brings extensive experience in structured finance, will bolster Proskauer’s capabilities in debt financing, asset-backed securities, and other…
In a recent maneuver that has attracted significant attention from legal professionals, SpaceX has crafted a strategy centered in Texas aimed at circumventing securities class actions. This move involves the company’s efforts to exploit Texas laws, which can be more favorable compared to other jurisdictions, in addressing potential legal challenges related to securities. The Texas…
Latham & Watkins LLP has recently expanded its securities litigation practice by hiring Stephen Barry, a seasoned litigator, in their Houston office. Barry, who was previously with Baker Botts, brings extensive experience in handling complex securities cases and will be a notable addition to Latham & Watkins’ team. The move underscores Latham & Watkins’ strategic…