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Rule 10b-5 Liability: The Second Circuit and 'Lorenzo'
This three-part series discusses the Second Circuit's recent Securities law landmark case, S.E.C. v. Rio Tinto. However, in order to discuss Rio Tinto, it is important to first understand the Supreme Court landmark cases upon which Rio Tinto is based: Janus Capital Group, Inc. v. First Derivative Trader, discussed in the first installment, and S.E.C v. Lorenzo, discussed here.
Rule 10b-5 and its statutory forebear, Section 10, rank first among equals in punishing and deterring securities fraud. 17 C.F.R. §240.10b-5 and 15 U.S.C. §78(j), respectively. The first of this three-part series exposited Janus Capital Group, Inc. v. First Derivative Traders, 564 U.S. 135 (2011), which defines who "makes" a misrepresentation or omission in violation of the regulation.
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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.
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A Lawyer's System for Active Reading
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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.