Securities Law

Law-firm recruiting slows as deal work falls

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

Jul 13, 2022 3:25 PM CDT

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 kidnapping of 14-year-old Emmett Till, who was lynched after the white woman accused the Black teenager of making improper advances.…

Jul 1, 2022 1:35 PM CDT

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.

Jul 1, 2022 9:02 AM CDT

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 for his client, adult film actress Stormy Daniels. He had taken out a loan to pay back half the money after Daniels inquired…

Jun 3, 2022 12:41 PM CDT

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.

May 31, 2022 8:57 AM CDT

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.

May 19, 2022 11:15 AM CDT

Florida lawyer lied to hundreds of disabled trust clients, SEC says

The U.S. Securities and Exchange Commission is accusing a Florida attorney of defrauding at least 380 clients, most of whom have disabilities and are recipients of Medicaid or Social Security Supplemental Security Income benefits.

May 4, 2022 9:27 AM CDT

SEC alleges Las Vegas lawyer shot by FBI was part of a $449M Ponzi scheme

The U.S. Securities and Exchange Commission alleges in a lawsuit that a Las Vegas lawyer and his law firm were involved in a $449 million Ponzi scheme that sold investments in fictitious insurance tort settlements.

Apr 14, 2022 11:45 AM CDT

Did lawyers for Barclays cause $600M error?

Barclays, a British bank, estimates that it will suffer a loss of nearly $600 million after it issued securities that exceeded the amount registered in the United States by about $15 billion.

Mar 30, 2022 3:36 PM CDT

Lieff Cabraser loses appeal of sanction for ‘materially misleading’ description of fee study

A federal appeals court has affirmed a federal judge’s nonmonetary sanction against Lieff Cabraser Heimann & Bernstein, imposed for its incomplete description of a fee study.

Feb 11, 2022 10:57 AM CST

Lawyer on university faculty is charged with insider trading

A Chicago lawyer who was a faculty member at the Loyola University Chicago was indicted Monday for allegedly making a $110,000 profit by trading on insider information passed along by a college friend.

Jan 13, 2022 9:18 AM CST

Jury finds Elizabeth Holmes, CEO of blood-testing company Theranos, guilty of fraud

A jury on Monday found Elizabeth Holmes, the former CEO and founder of failed blood-testing startup Theranos, guilty on four of 11 federal charges related to fraud and conspiracy.

Jan 4, 2022 9:36 AM CST

Nonfungible tokens are all the rage now. What are they, and what should buyers watch for?

Along with rights to online video clips, nonfungible tokens can be used to represent ownership of all sorts of original digital items, including images, audio clips, collectible e-cards—even a copy of William Shatner’s tooth X-ray.

Oct 1, 2021 2:10 AM CDT

Judge scrutinizes BigLaw firm in ruling on evidence from blood-testing company Theranos that may be ‘irretrievably’ lost

The founder of blood-testing company Theranos can’t exclude government evidence at her fraud trial on the basis of lost, purportedly exculpatory evidence because her company was responsible for the destruction, a federal judge in San Jose, California, has ruled.

Aug 5, 2021 1:15 PM CDT

McDonald’s investor suit alleges Morgan Lewis rushed probe of then-CEO

A lawsuit filed by a McDonald’s investor alleges Morgan, Lewis & Bockius conducted a “grossly inadequate” investigation of inappropriate relationships by the company’s then-CEO, leading to his unwarranted “lavish severance package.” The stockholder’s derivative lawsuit, made public Wednesday, names Morgan Lewis as a defendant along with McDonald’s board members and…

Jul 30, 2021 2:10 PM CDT