Of the many matters overseen by the U.S. Securities and Exchange Commission (SEC), regulatory efforts aimed at cryptocurrency have given rise to some of the agency's perhaps most boggling determinations. That was made clear in a recent discovery hearing in the U.S....
Ford O’Brien Legal Blog
Ex-Informant Sued Yet Again By SEC
Adam Ford, an attorney representing Gentile, characterized the SEC’s latest complaint as "an embarrassment for what was once a reputable government agency.” “We expect to get these bogus allegations promptly dismissed, as we have with the prior three complaints the...
New York Considers Consumer Data Protection Law Similar to Those in California and Virginia
As the collection of personal information is increasingly part of doing business in the United States and abroad, a growing number of states are passing privacy laws in an effort to protect individuals' personal data. For example, the California Consumer Privacy Act...
Some Believe Tesla Could Be Investigated by SEC
Elon Musk, the South African CEO of Tesla – and of other companies – is an ongoing beacon of investment news, and his use of Twitter has had a noticeable influence on the value of particular stocks over the years. Signal Advance, Dogecoin and GameStop are examples of...
GameStop Tumult Puts Hedge Fund Industry in the Spotlight
The buying frenzy in GameStop Corp. stock, which began late last month and saw the price rise as much as 1,700% as amateur traders using an online trading platform egged one another on, is apparently over (for now). Even with a slight bump up last Friday, the stock...
Robinhood Brokerage Accused of Securities Violations
According to legend, the heroic outlaw Robin Hood robbed from the rich to give to the poor. But, according to a pair of lawsuits filed by the Securities and Exchange Commission (SEC) and the state of Massachusetts, Robinhood Financial LLC is accused of taking...
Even as SEC Enforcement Actions Rise, Insider Trading Charges Dip
Over the past 35 years, the overall number of enforcement actions taken annually by the SEC has consistently risen. In 1985, the SEC brought about 300 such actions. In recent years, that number has hovered above 800. In 2019, the SEC took 862 total enforcement...
The Platinum Case: How One Defendant Lost Even Though He Won
Increasingly, judges and lawyers are calling attention to the excesses of white-collar sentencing under the federal sentencing guidelines. Defendants found guilty of economic crimes have never been especially sympathetic, to put it mildly, so this trend is noteworthy...
Former MiMedx CEO and COO Convicted on Securities Fraud Charges
In 2019, the former CEO and COO of MiMedx were indicted for allegedly engaging in a fraudulent scheme to inflate the Georgia-based wound care company's revenue. Roughly a year later, both men have been found guilty on securities fraud charges. Specifically, former CEO...
Update on SEC vs. Gentile
The U.S. District Court for the District of New Jersey issued an order in the matter of U.S. Securities and Exchange Commission v. Gentile. The order dismissed the amended complaint filed by the SEC seeking an injunction against former government informant Guy Gentile.
