Securities

The defendants argued that the second amended complaint barely even attempts to address the court’s dismissal order. The former CEO and CFO of Spirit Airlines have filed a motion to dismiss a second amended complaint brought by plaintiffs who purchas...

The company misstated its revenue in multiple public filings, and failed to maintain internal controls to detect side agreements made by its sales team. A Missouri-based company has agreed, without admitting the allegations, to pay a $1 million civil...

New NASAA president highlights investor protection, member education, technology initiatives, and preserving state regulatory authority among her priorities. The North America Securities Administrators Association (NASAA) announced the presidency of ...

The proposed amendments to NASAA’s Investment Company Shares SOP will not alter any existing requirements but add language that was added last year to the model Business Practices Rule. NASAA is seeking public comment on proposed amendments to its po...

The judge found the appeal-certification request untimely and stayed the civil enforcement action pending a parallel criminal trial, without affecting the receivership. A Texas federal district court denied a bid to reconsider its conclusion that Dod...

A $25 million damages provision could be satisfied through a $10 million DOJ payment, while a separate $10 million judgment turns on Mashinsky’s prison sentence. New York Attorney General Letitia James announced an agreement with Alex Mashinsky, co-f...

Shkreli, who gained notoriety as the “Pharma Bro” for his involvement with companies that sharply increased the prices of drugs, is flagrantly violating his pharmaceutical industry ban, the government contends. The FTC announced that it and seven sta...

The Commission alleges that former executives used opaque private-market pricing and artificial scarcity to foment investor demand. The SEC has charged former top executives of Linqto, Inc. with deceiving investors who used the company's online platf...

A snapshot of the week’s IPO activity, including completed deals, new preliminary filings and IPO withdrawals. The healthcare sector drove IPO activity last week with two of the three completed deals, and five new preliminary registrations. The numbe...

Yes, the Securities and Exchange Commission often relies on electronic communications, like emails, text messages and social media chats to prove insider trading . In fact, such communications can prove to be critical evidence in establishing some or...

The U.S. Census Bureau reported that import-export data for August showed the trade deficit in goods and services growing to $105.6 billion for the month, $12.7 billion higher than the $92.8 billion reported in July. In this edition of Tariff Insight...

The amendments would restore the ability to cross trade most fixed-income securities, which is currently restricted under 2020’s fund valuation rule. The SEC has proposed to expand the group of securities eligible to be cross-traded by registered fun...

He provided an issuer with a fraudulent engagement letter and fabricated audited report and obtained $2,500 in audit fees. The SEC filed a fraud complaint in the District of Columbia’s District Court against a citizen of India for misrepresenting to ...

Defendants were also charged with making related false statements to current and prospective clients. The SEC filed charges in the Southern District of California against Darren J. Caris and his investment advisory firm, Caris Investment Partners, In...

A weekly roundup of items of interest to the securities, derivatives and corporate governance communities. EXCHANGES AND MARKET REGULATION—CME Group said it will launch the world's first baseball futures on October 12, pending regulatory review. The ...

The brief asks the high court to grant New Jersey’s certiorari petition so it can resolve the chaos and confusion that has grown out of numerous states’ disputes with prediction markets. In a Supreme Court amicus brief, 39 states and the District of ...

The Chamber and two other amici believe that the plaintiff did not show, with evidence, how it will measure the artificial inflation in Boeing’s stock price over the class period in a manner consistent with its theory of liability. In an amicus brief...

A CFTC investigation caused the defendants to walk back their profitability claims and work to eliminate the social media presence of the unincorporated entity used in the scheme. The CFTC has announced that the Middle District of Florida has entered...

The amicus brief requests that the first question be presented but rewritten and that the second question be discarded. The Solicitor General for the U.S. Department of Justice filed an amicus brief to intervene in the Sodha v. Robinhood Markets case...

The letter was issued by the CFTC in response to a request from Coinbase Derivatives, LLC, a designated contract market. The CFTC’s Division of Market Oversight has issued no-action relief to designated contract markets seeking to convert their exist...

Only the CFTC can regulate Kalshi’s event contracts, including those related to sports, the brief emphasizes. The Eastern District of Wisconsin “profoundly erred” in denying the CFTC’s motion to enjoin the state’s enforcement of gambling laws, which ...

The guilty plea for obstructing justice carries a five-year maximum prison sentence. The former Chief Investment Officer of registered investment adviser Western Asset has consented to a final judgment in the SEC case against him and he plead guilty ...

Key Takeaways: Unauthorized use of AI inside the enterprise can become a cybersecurity, disclosure, and governance event without a traditional cyberattack or operational disruption. Materiality remains fact-specific and may turn on qualitative consid...