Nikola Corporation stormed onto the electric vehicle scene in 2016 offering concepts for zero-emission vehicles. While the SEC does not set emission standards, they have long had standards for omissions – and Nikola is being left with a nine-figure bill.
Corporate Defense and Disputes
Proskauer's perspective on commercial litigation trends and legal developments
The Corporate Defense and Disputes blog, published by Proskauer Rose LLP, focuses on legal issues related to corporate litigation and defense strategies. It covers topics such as securities enforcement actions, insider trading cases, regulatory compliance challenges, and significant court rulings affecting corporate governance and financial services. The blog also addresses developments in labor and employment disputes, white collar defense, and complex commercial litigation. It provides analysis of regulatory enforcement trends, including SEC actions and administrative proceedings, as well as emerging issues like ESG regulations and anti-discrimination legal challenges. The content is aimed at corporate clients, legal professionals, and stakeholders interested in corporate legal risk management and dispute resolution.
Latest from Corporate Defense and Disputes - Page 9
Gensler Speaks Out on SPACs, Notes Similarities with Traditional IPOs and Hints at Future SEC Action
SEC Chair Gary Gensler made news again last week with a series of statements regarding SPACs, noting their similarities with traditional IPOs and hinting at future regulatory action aimed at these investment vehicles.
In a December 9, 2021 speech before…
House of Representatives Looks into SPACs, Focused on Protecting Investors
On November 16, 2021, the House Financial Services Committee cleared two proposals geared towards protecting investors and holding accountable offerors in connection with SPAC transactions.…
Qualcomm Escapes Diversity Suit
Another diversity-based derivative suit was dismissed this week by a federal district court, joining a list of decisions that have rejected similar shareholder allegations.
This most recent decision, from the District of Delaware, dismissed claims alleging Qualcomm Inc. had allowed…
DOJ Announces New Guidance for Prosecuting Corporate Crime in Speech by Deputy Attorney General Lisa Monaco
Late last month, Deputy Attorney General Lisa O. Monaco delivered a keynote speech at the ABA’s National Institute on White Collar Crime event in Washington, DC. Her remarks outlined observed trends in white collar crime as well as AG Merrick…
Second Circuit Holds that Expanding FSIA to Criminal Cases Would Not Save a Turkish Bank from U.S. Prosecution
The Second Circuit recently held that a denial of a motion to dismiss a criminal indictment based on the Foreign Sovereign Immunities Act (“FSIA”) is immediately appealable under the collateral-order doctrine but concluded that even if FSIA did provide immunity…
Disgorgement Continues at the SEC
On October 12, 2021, the Fifth Circuit Court of Appeals upheld a disgorgement order issued by the SEC, in—according to the opinion— the first appellate ruling on the topic since the Supreme Court’s 2020 decision in Liu v. SEC.…
Over $1 Billion Whistleblower Awards Paid to Date by the SEC
Last week, the SEC announced accumulated awards of over $1 billion paid to 207 whistleblowers since its first award in 2012. Over $500 million was awarded in fiscal year 2021 alone.
The SEC crossed the billion-dollar milestone with awards of…
Northern District of California Dismisses Derivative Lawsuit Alleging Online Child Privacy Law Violations
The acronym “ESG” is shorthand for environmental, social, and governance concerns. In recent years, companies have used “ESG” to refer to initiatives involving climate change, responding to racial injustice, and supporting workers’ rights. The “S” in ESG can be a…
SEC Brings First Enforcement Action Against Alternative Data Provider
The Securities and Exchange Commission (“SEC”) filed a settled securities fraud action against App Annie Inc., one of the largest sellers of market data on how apps on mobile devices are performing, and its co-founder and former CEO and Chairman…