When there are allegations of misconduct by those involved in the financial industry or the business world, it may take months, if not years, for prosecutors to move on the information they have, as building a case takes a lot of time. As a result, it is often...
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Securities Law
A Russian billionaire who hacked insider information stands trial
As you know, every business and corporation has private information that details past, present and potentially future dealings, all of which had or may have an effect on current economic trends. The disclosure of sensitive private information can potentially hurt a...
Pharma Giant Settles with Shareholders Over Price-Fixing Allegations
Multinational generic pharmaceutical giant Teva reached a $420 million settlement with shareholders who claimed the company hid a price-fixing scheme and artificially inflated share prices. According to the suit, filed in federal court in Connecticut, the price-fixing...
What Constitutes a Material Omission in Securities Law?
Any party who issues, sells or promotes securities is forbidden from making false or misleading statements and from omitting material information regarding the security. What is a material omission? According to the U.S. Securities and Exchange Commission (SEC), a...
SEC Scrutinizes Rules on Stock Trading by Executives
Corporate executives and their trading practices are being further scrutinized by the U.S. Securities and Exchange Commission (SEC), which is reviewing possible rule changes, as well as possible abuses of existing rules pertaining to stock trading options. The SEC’s...
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...
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...
Under Armour receives Wells notice amid SEC probe
In July, the U.S. Securities and Exchange Commission (SEC) sent Wells notices to Under Armour and two of its executives. The notices of possible enforcement action are part of a probe into the activewear company's accounting practices, which the SEC claims may have...
SEC issues notice seeking forensic tools for monitoring blockchains
The U.S. Securities and Exchange Commission (SEC) is looking for forensic tools to more closely monitor the crypto industry, particularly with regard to blockchain smart contracts. The regulator issued a notice on July 30, requesting solicitations from companies that...
11 Class Actions Claim Crypto-Asset Exchanges Violated Securities Laws
Enthusiasm for Bitcoin has factored largely in many decisions to invest in the cryptocurrency market. But according to 11 class actions filed on April 3 in the Southern District of New York, four crypto-asset exchanges and seven digital token issuers took advantage of...