The US Court of Appeals for the Second Circuit recently held that injured investors, who had already recovered some of their losses due to certain specialist firms’ “manipulative tactics,” lacked standing to challenge the...more
A three-judge panel of the US Court of Appeals for the Third Circuit recently affirmed an injunction against the Delaware Court of Chancery’s arbitration program, finding that the confidential proceedings violate the First...more
The New York State Department of Financial Services (DFS) recently announced that hedge fund advisor Philip Falcone (Falcone), and all employees of his firm Harbinger Capital Partners (Harbinger Capital), are banned for seven...more
A three-judge panel of the US Court of Appeals for the Second Circuit recently upheld the dismissal of a multidistrict class action against Canadian mining company Agnico-Eagle Mines Limited (Agnico) and its executives, who...more
The Securities and Exchange Commission recently charged a North Carolina-based investment adviser and its former owner with making false statements about the firm’s ability to engage in algorithmic currency trading....more
Reversing its longstanding policy, the Securities and Exchange Commission recently required hedge-fund adviser Philip Falcone and his firm Harbinger Capital Partners LLC (Harbinger) to admit multiple acts of misconduct in...more
9/3/2013
The US District Court for the Middle District of Florida recently ordered one participant in a sophisticated investment fraud and money laundering scheme to forfeit $137 million in assets including cash, real property,...more
The US Court of Appeals for the Ninth Circuit upheld summary judgment in favor of the Securities and Exchange Commission, finding that managers of unregistered broker-dealer Radical Bunny LLC (Radical Bunny) failed to raise...more
The Delaware Court of Chancery recently upheld a buyer’s claim that a seller fraudulently and actively concealed material information, even though the buyer had agreed to an exculpation clause in the stock purchase agreement...more
The Delaware Supreme Court recently affirmed the lower court’s dismissal of a derivative and class action complaint against the general partner and other managers of a limited partnership because the plaintiff failed to...more
The US District Court for the Southern District of New York recently ordered Uriel Sharef, a former Siemens AG board member and German citizen accused of bribing Argentine government officials, to pay a $275,000 civil penalty...more
The Delaware Chancery Court recently addressed the limits of shareholder inspection rights, holding that such requests must be specifically related to a proper purpose....more
The US Supreme Court recently held that the Securities and Exchange Commission has five years from the date an alleged fraud occurs, not from the date of its discovery, to bring an enforcement action for civil penalties....more