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In the Courts
SEC Settlement Discretion Affirmed in Citigroup Reversal
On June 4, 2014, Judge Rosemary Pooler of the United States Court of Appeals for the Second Circuit reversed District Court Judge Jed Rakoff's highly publicized rejection of the Securities and Exchange Commission's (SEC's) $285 million settlement with Citigroup. The case, SEC v. Citigroup Global Markets, 11-5227-CV L, 2014 WL 2486793 (2d Cir. June 4, 2014), dates back to a 2011 consent decree in which Citigroup agreed to pay a $95 million civil penalty and disgorge $190 million in realized profits and interest for allegedly misrepresenting its role in selling ' and shorting ' an investment fund collateralized by subprime mortgage securities.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.