Corporate Defense and Disputes

Important developments in U.S. securities law, white collar criminal defense, regulatory enforcement and other emerging issues impacting financial services institutions, publicly traded companies and private investment funds

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By: Proskauer Rose LLP

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Ann Ashton
Anthony Drenzek
Allison Martin
Alexandra Skellet
Alyse F. Stach
Benjamin Catalano
Brian Friedman
Brian Hooven
Boris Zeldin
Chantel L Febus
Christopher Wells
Colin Kass
Christopher E. Ondeck
Daniel Nelson
Daniel Ornstein
David Picon
Dietrich Snell
Erika C. Collins
Edward Canter
Edward Young
Gregg Mashberg
Harry Frischer
Harris Mufson
Ira G. Bogner
James Anderson
Julia M. Ansanelli
Jason Richman
Joel Cavanaugh
John R. Ingrassia
Joshua M. Newville
Jessica Fisher
Julia Alonzo
Jonathan Richman
Jonathan Siegelaub
James Unger
Karen Clarke
Kathy Rocklen
Lloyd B. Chinn
Lawrence Elbaum
Lindsey Olson
Mark J. Biros
Margaret A. Dale
Mark Harris
Mee (Rina) Kim
Michael R. Hackett
Michael Mavrides
Massiel Pedreira
Michael Suppappola
Noa Baddish
Pietro Deserio
Philip Arnold
Phillip Caraballo-Garrison
Pengtao Teng
Rochelle Schultz
Ralph Ferrara
Rachel Fischer
Russell Hirschhorn
Robert Cleary
Russell Kostelak
Robert Leonard
Roger Cohen
Robert Projansky
Richard Spinogatti
Rachel Wolkinson
Stacey P. Eilbaum
Seth Fier
Scott Fishwick
Sean J. Hill
Sigal Mandelker
Stephen Ratner
Sarah Gold
Samantha Springer
Steven J. Pearlman
Samuel J. Waldon
Tanya Dmitronow
Timothy W. Mungovan
Tracey Silver

Latest from Corporate Defense and Disputes

The Delaware Supreme Court held yesterday that a corporation can be required to produce emails and other electronic documents where necessary to satisfy a shareholder’s legitimate request to inspect corporate books and records under § 220 of the Delaware General Corporation Law.  The Supreme Court also held that, under the circumstances of the case, a court could not impose jurisdictional limitations on the shareholder’s use of documents obtained through the § 220 inspection process.…
The Court of Appeals for the Tenth Circuit held today that the Securities and Exchange Commission may bring an enforcement action based on allegedly foreign securities transactions involving non-U.S. residents if sufficient conduct occurred in the United States.…
A lot of ink has been spilled over the crime of insider trading, which – in the view of U.S. District Judge Jed Rakoff – “is a straightforward concept that some courts have managed to complicate.”  In his recent decision in United States v. Pinto-Thomaz (S.D.N.Y. Dec. 6, 2018), Judge Rakoff attempts to simplify insider-trading law by returning to its roots:  embezzlement, and use of stolen property.…
The Amsterdam Court of Appeal has approved a €1.3 billion collective settlement of claims asserted on behalf of shareholders of the former Fortis (now Ageas). The July 13, 2018 decision again shows that the Dutch Act on Collective Settlement of Mass Claims (the “WCAM”) can be used to resolve transnational disputes regardless of whether those claims could be litigated adversarially on a classwide basis in the Netherlands or elsewhere.…
The Second Circuit confirmed this week that a “meaningfully close personal relationship” is not required for insider-trading liability where a tipper discloses inside information as a gift with the intent to benefit the tippee.  The June 25, 2018 decision on panel rehearing in United States v. Martoma (No. 14-3599) retreats from the panel’s original decision and no longer effectively overrules a portion of the Second Circuit’s 2014 decision in United States v. Newman, which had refused to…
On June 4, we posted a summary of SEC Enforcement Co-Director Steven Peikin observations during his recent keynote address at the New York City Bar Association’s 7th Annual White Collar Crime Institute.  Co-Director Peikin imparted a few suggested “do’s and don’ts” for effective communication with the SEC during the Wells process.  Although Co-Director Peikin’s suggestions should serve as helpful guides to defense counsel, we believe a few of the observations bear further consideration. 1.…
The Supreme Court ruled today that, when a foreign government presents a formal submission to a federal court about the content of the government’s own laws, the court should accord “respectful consideration” to the government’s statements, but is not bound to grant them “conclusive effect.”  The decision in Animal Science Products, Inc. v. Hebei Welcome Pharmaceutical Co. (No. 16-1220) resolves a Circuit split about the weight to accord a foreign government’s description of its own law…
The Supreme Court ruled today that judicially created principles that toll statutes of limitations for class members in timely filed class actions apply only to subsequently filed individual actions, not to follow-on class actions filed outside the limitations period. The decision in China Agritech, Inc. v. Resh (No. 17-432) thus eliminates the specter of a potentially infinite series of class actions in which each class representative claims that limitations periods were tolled by the pendency of…
During his recent keynote address at the New York City Bar Association’s 7th Annual White Collar Crime Institute, SEC Enforcement Co-Director Steven Peikin imparted a few suggested “do’s and don’ts” for effective communication with the SEC during the Wells process—typically the last opportunity to address potential charges prior to the authorization of a SEC enforcement proceeding.  We’ve summarized his observations below.…
The Securities and Exchange Commission (the “SEC”) has taken to using humor and sarcasm to educate retail investors about the potential risks of purchasing tokens in initial coin offerings (“ICOs”).This week, the SEC issued a press release presenting “a hot investment opportunity.” The release pointed to a website touting the HoweyCoin—a fictional crypto token intending to disrupt the luxury travel industry—as “one of the largest cryptocurrency platforms ever built” and promising that it would provide…