Securities Law

SCOTUS allows shareholder lawsuit against Facebook to go forward

The Supreme Court dismissed an appeal Friday by Meta’s Facebook, allowing a lawsuit to go forward that was brought by investors who claim they were misled by the social media giant about risks from a massive data breach.

Nov 22, 2024 12:28 PM CST

Supreme Court appears split in Facebook lawsuit tied to data breach

The Supreme Court on Wednesday appeared closely divided over whether to allow shareholders to proceed with a lawsuit accusing Meta’s Facebook of misleading investors about risks from a massive data privacy breach.

Nov 7, 2024 10:00 AM CST

BigLaw firm sanctioned for ‘flagrant violations of a protective order’

Latham & Watkins and its client must pay an attorney-fee sanction for “flagrant violations of a protective order,” according to a federal judge in California.

Nov 4, 2024 2:36 PM CST

Dechert, 2 ex-partners settle RICO suit alleging scheme to steal data from client’s opponent

An airline executive who alleged that a former Dechert partner conspired to hack and release his emails in a campaign to silence him has settled his civil RICO lawsuit against the law firm defendants.

Sep 23, 2024 9:33 AM CDT

Lawyer must face ethics charge alleging he tried to hire Israeli hackers to access judge’s emails

A California bar court judge has rejected a lawyer’s bid to dismiss an ethics charge alleging that he plotted to hire Israeli hackers to hack in to the email and phone accounts of a judge and a lawyer.

Sep 19, 2024 11:52 AM CDT

Creative Legal Fundings company was ‘neither creative nor legal,’ SEC official alleges

A California woman who created a company ostensibly to loan money to personal-injury attorneys is accused of spending millions of dollars in investor funds to support her "lavish lifestyle."

Sep 5, 2024 9:08 AM CDT

Lawyer who reported suspected wrongdoing can’t collect whistleblower award, DC Circuit says

An in-house lawyer who reported suspected wrongdoing to the U.S. Securities and Exchange Commission can’t recover a whistleblower award, a federal appeals court has ruled.

Aug 19, 2024 10:31 AM CDT

‘Huge market opportunity’ for some law firms during ESG backlash

Most major U.S. law firms in recent years have launched dedicated environmental, social and governance (ESG) practice groups to help clients navigate a surge of new rules and initiatives emerging across climate; sustainability; diversity, equity and inclusion; human capital; and other areas. But more recently, law firms have run squarely into the political backlash against ESG.

Aug 1, 2024 2:20 AM CDT

Targeting white-collar crime, DOJ seeks more whistleblowers

Under a Biden administration program the Justice Department plans to unveil within weeks, authorities will offer whistleblowers who provide tips that lead to successful prosecutions a percentage of the resulting penalties and fees—an amount that could total millions of dollars.

Jul 10, 2024 3:30 PM CDT

SEC defendants are entitled to jury trials, SCOTUS rules in case with ‘broad ramifications’

The U.S. Supreme Court ruled Thursday that defendants facing civil penalties for securities fraud before the U.S. Securities and Exchange Commission are entitled to a jury trial under the Seventh Amendment.

Jun 27, 2024 10:07 AM CDT

9 legal malpractice trends in 2024

Legal malpractice is costing law firms big bucks, and it’s expected to fetch even more soon. Multimillion-dollar payouts increased year over year, according a 2023 report comparing 2022 numbers with the prior year report by Ames & Gough, a business insurance and risk management consultancy.

May 22, 2024 1:41 PM CDT

Trump says he ‘would actually’ consider Texas AG Ken Paxton for US attorney general

Former President Donald Trump said this weekend he “would actually” consider Republican Texas Attorney General Ken Paxton for U.S. attorney general if he returns to the White House.

May 21, 2024 3:44 PM CDT

Lawyer whose firm sued Boeing finds emergency slide that fell from company’s plane near his home

An emergency slide that detached from a Boeing 767 plane on Friday washed up on the beach near the New York home of a lawyer whose law firm has sued the aerospace company.

May 2, 2024 9:30 AM CDT

Chemerinsky: SCOTUS winds up term with rulings expected on major cases about government power, accountability

The Supreme Court heard the last oral arguments of the term on April 25, and now we wait for the decisions with the expectation of the usual flurry of rulings at the end of June. In thinking about the pending cases, a significant number involve the scope of government power and how to hold the government accountable.

May 1, 2024 12:08 PM CDT

Texas AG Ken Paxton makes deal to avoid felony securities trial

Texas Attorney General Ken Paxton (R), a conservative firebrand acquitted last year in a historic impeachment trial, has reached an agreement with prosecutors to avoid trial on long-standing state felony securities fraud charges.

Mar 26, 2024 3:00 PM CDT