ABA Journal

Securities Law

1385 ABA Journal Securities Law articles.

SEC sues Covington for names of nearly 300 clients affected by 2020 cyberattack

The U.S. Securities and Exchange Commission sued Covington & Burling on Tuesday to obtain the names of 298 publicly traded clients affected by a 2020 cyberattack.

Sullivan & Cromwell pressured me to file for FTX bankruptcy, crypto exchange’s founder says

Indicted cryptocurrency exchange FTX founder Samuel Bankman-Fried is accusing Sullivan & Cromwell of pressuring him to seek bankruptcy protection for his company and filing documents nominating a new CEO after he tried to withdraw permission.

FTX founder faces criminal and civil charges for alleged $1.8B fraud at FTX Trading

The founder of cryptocurrency exchange FTX is facing criminal and civil securities charges in connection with an alleged $1.8 billion fraud for touting FTX Trading as a safe platform for crypto asset trading while diverting investor money to his privately held hedge fund.

Would Twitter get Section 230 immunity in lawsuits filed over fake tweets with blue check marks?

Plaintiffs lawyer Jay Edelson told Reuters that he is researching whether Twitter could be sued for giving blue check marks to fake accounts that misled consumers and corporate shareholders.

Calls to defund SEC circulate on Trump’s social media platform

The U.S. Securities and Exchange Commission is being targeted by critics on Truth Social, former President Donald Trump's social media platform, after a holdup in a merger with a special purpose acquisition company because of an SEC investigation.

Former Dewey CFO will pay over $95K to resolve SEC lawsuit over misleading financial statements

The chief financial officer for failed law firm Dewey & LeBoeuf will pay more than $95,000 to resolve a civil lawsuit filed by the U.S. Securities and Exchange Commission alleging that he falsified financial statements to raise money for the firm.

Thomson Reuters releases new version of online legal research platform Westlaw

Thomson Reuters has unveiled the latest iteration of Westlaw, its widely used online legal research platform. Westlaw Precision was introduced Wednesday and is the company’s first new version in more than four years.

Class action suit over gender bias at Goldman Sachs slated for 2023 trial

Despite Goldman Sachs’ attempt to avoid a 12-year-old gender bias class action lawsuit, a federal judge said Monday the case will head to trial next June.

Federal judge tosses lawyers from case after concluding they failed to diligently represent shareholders

U.S. District Judge John Adams of Akron, Ohio, is looking for new lawyers to represent a utility company’s shareholders after tossing current counsel from the case.

Law-firm recruiting slows as deal work falls

A slowdown in corporate deals is affecting law firm hiring and giving overworked lawyers a breather.

Weekly Briefs: Old arrest warrant found in Emmett Till case; former White House counsel subpoenaed

Emmett Till’s family seeks arrest after warrant found

Researchers have found an unserved 1955 arrest warrant in the basement of a Mississippi courthouse that accuses Carolyn Bryant Donham in the…

Lawyer who once directed corporate law at Apple pleads guilty to insider trading

A former top lawyer at Apple who was tasked with enforcing its insider trading policy pleaded guilty Thursday in a scheme to trade on the company's material, nonpublic information.

Weekly Briefs: Michael Avenatti sentenced in money theft of Stormy Daniels; Reagan shooter released without restrictions

Lawyer Michael Avenatti gets more prison time

Suspended lawyer Michael Avenatti was sentenced Thursday to four years in prison for stealing nearly $300,000 in book-deal payments intended…

Legal malpractice payouts reach ‘troubling new heights;’ 4 insurers contributed to claims above $300M, survey says

Legal malpractice insurers are reporting skyrocketing payouts of tens of millions of dollars, even as claims frequency remains relatively flat, according to a survey by insurance broker Ames & Gough.

Some trials by SEC administrative judges violate Seventh Amendment right to jury trial, 5th Circuit rules

A federal appeals court ruled Wednesday that administrative trials by the U.S. Securities and Exchange Commission violate the Seventh Amendment right to a jury trial when civil penalties are sought.

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