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Federal courts long have struggled to define the limits of the mail and wire fraud statutes, laws famously characterized as the prosecutor’s true love for their vast breadth and catch-all adaptability. After sidestepping opportunities in the past, the U.S. Supreme Court is now wading into two different and controversial manifestations of that flexibility.
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Restitution Rights for Victims of White-Collar Crime
By Seth Farber, Marcelo Blackburn and Sarah Viebrock
However, when corporate misconduct rises to the level of a crime, and when that crime results in a federal criminal conviction, victims have an alternative: an order of restitution as part of the corporate defendant’s criminal sentence. As discussed below, victims enjoy several strategic advantages in a restitution proceeding that they do not in civil litigation.
SPAC Transaction Challengers Face Uphill Battle
By Jay A. Dubow, Joanna J. Cline and Erica H. Dressler
Recent decisions by the Delaware Court of Chancery demonstrate that when a special purpose acquisition company (SPAC) transaction and the disclosures surrounding it are challenged, defendants may face an uphill battle to prevail on a motion to dismiss, especially where breach of fiduciary duty claims have been asserted.
DOJ and States Open Antitrust Case Against Google for Monopolizing Internet Search Market
By Jimmy Hoover
The U.S. Department of Justice and dozens of states opened their antitrust case against Google in Washington last month, accusing the tech giant of illegally monopolizing the internet search and related ad markets.
SEC Sued Over Private Fund Adviser Rule
By Maydeen Merino
The Managed Funds Association and five other industry groups have sued the SEC over its new private fund advisers rule, saying the agency has overreached its statutory authority and interferes with contracts.