Securities Law

Afternoon Briefs: New York City law department hacked; Stanford Law wasn’t involved in fake flyer fracas

New York City law department is hacked Lawyers in New York City’s law department have no remote access to the the computer system after a computer hack, a spokesperson said Monday. An investigation has been launched. The system was still down Tuesday morning. (The New York Daily News here and…

Jun 8, 2021 4:30 PM CDT

BigLaw partner is charged with securities fraud in connection with alleged Ponzi scheme

Baker, Donelson, Bearman, Caldwell & Berkowitz health care partner Jon Darrell Seawright has been charged along with a former lobbyist at the firm for their roles in an alleged Ponzi scheme involving fake timber purchases.

May 24, 2021 9:51 AM CDT

Plaintiffs law firm kicked off securities class action for failing to disclose client’s investment in short position

Plaintiffs law firm Robbins Geller Rudman & Dowd has been kicked off a securities class action alleging that investors lost money when a Mexico-based media company concealed a scheme to bribe soccer officials for broadcasting rights.

May 20, 2021 1:05 PM CDT

Legal malpractice payouts are the highest on record, insurance broker reports

Payouts for legal malpractice claims are at an all-time high, according to a new survey by insurance broker Ames & Gough. Ames & Gough surveyed 11 leading legal malpractice insurers about claims paid from 2019 to the middle of 2020.

May 18, 2021 8:57 AM CDT

Afternoon Briefs: Judge denies QAnon connection; investors sue over ‘Voltswagen’ prank press release

Pennsylvania judge denies any QAnon connection A Philadelphia judge running for the Pennsylvania Supreme Court is denying any connection to QAnon and its conspiracy theories. Judge Paula Patrick told the Philadelphia Inquirer that she hadn’t even heard of an upcoming event staged by QAnon supporters, even though she was listed…

May 3, 2021 4:30 PM CDT

New SEC enforcement chief abruptly resigns after judge questions ‘unhinged’ claim in BigLaw case

The U.S. Securities and Exchange Commission’s new enforcement chief, Alex Oh, abruptly resigned Wednesday after a federal judge said he was considering sanctions for a claim that she made about her opposing counsel's demeanor before she left her BigLaw firm.

Apr 29, 2021 11:26 AM CDT

Tesla’s board failed to appoint general counsel who could keep Elon Musk in line, unsealed suit alleges

Tesla’s board of directors failed to secure a general counsel who could curtail “erratic” tweeting Tesla CEO Elon Musk, according to a shareholders’ derivative lawsuit unsealed Friday.

Mar 17, 2021 1:41 PM CDT

Afternoon Briefs: Law dean Chemerinsky opposes Trump Twitter ban; safe injection site shot down

Law dean Erwin Chemerinsky opposes Trump Twitter ban Twitter and Facebook had the right to remove posts by President Donald Trump that amounted to incitement, but a total ban on Trump’s social media accounts goes too far, according to an op-ed by Erwin Chemerinsky, dean of the University of California…

Jan 14, 2021 4:38 PM CST

Supreme Court will consider Goldman Sachs case that could limit shareholder suits

The U.S. Supreme Court on Friday accepted a case that could limit securities class actions against companies that make generic statements about integrity before a drop in stock prices.

Dec 14, 2020 3:46 PM CST

Florida lawyer and disbarred New York attorney are indicted in alleged opinion letter scheme

Florida lawyer Thomas Craft and disbarred New York attorney Richard Rubin have been indicted in an alleged scheme to produce fraudulent opinion letters that allowed sales of microcap stock to the investing public.

Dec 7, 2020 1:27 PM CST

Afternoon Briefs: These BigLaw firms get ‘A’ ratings on climate change; lawyer settles athlete fraud claims

Only 4 BigLaw firms get ‘A’ ratings in climate change fight A group called Law Students for Climate Accountability is giving an ‘A’ grade to only four large law firms for work on behalf of clients mitigating climate change. A-rated firms are Cozen O’Connor; Schulte Roth & Zabel; Sheppard, Mullin,…

Oct 2, 2020 4:25 PM CDT

Afternoon Briefs: New York City law department hacked; Stanford Law wasn’t involved in fake flyer fracas

BigLaw partner is charged with securities fraud in connection with alleged Ponzi scheme

Plaintiffs law firm kicked off securities class action for failing to disclose client’s investment in short position

Legal malpractice payouts are the highest on record, insurance broker reports

Afternoon Briefs: Judge denies QAnon connection; investors sue over ‘Voltswagen’ prank press release

New SEC enforcement chief abruptly resigns after judge questions ‘unhinged’ claim in BigLaw case

Tesla’s board failed to appoint general counsel who could keep Elon Musk in line, unsealed suit alleges

Afternoon Briefs: Law dean Chemerinsky opposes Trump Twitter ban; safe injection site shot down

Supreme Court will consider Goldman Sachs case that could limit shareholder suits

Florida lawyer and disbarred New York attorney are indicted in alleged opinion letter scheme

Afternoon Briefs: These BigLaw firms get ‘A’ ratings on climate change; lawyer settles athlete fraud claims

Receiver’s lawsuit alleges 2 BigLaw firms turned a blind eye to Ponzi scheme

ABA is ‘deeply concerned’ by China’s new security law, saying it violates agreement with Hong Kong

Former BigLaw lawyer can start the process to return to practice after prison sentence, state supreme court says

Supreme Court rules disgorgement, with limits, is allowed in SEC civil actions

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