Topic
Securities
6,683 published works
Climate Solutions Legal Digest
Second Circuit Maintains Key Distinctions Between Term Loans and Securities, Affirms Kirschner Decision
By Jai Khanna
Last month, we reported how a key component of project finance—syndicated term loans—was the subject of a crucial case being heard in the U.S. Court of Appeals for the Second…
Corporate Defense and Disputes
SEC’s Whistleblower Program Grants Fourth Largest Award in its History
By Kelly Curtis
On August 4, 2023, the Securities and Exchange Commission announced awards totaling more than $104 million to seven whistleblowers in connection with a successful SEC enforcement action. The SEC’s Press…
Known Trends
Corp Fin Issues New CDIs on Rule 10b5-1 Plans and Related Disclosures
On August 25, 2023, the U.S. Securities and Exchange Commission’s Division of Corporation Finance (Corp Fin) issued five new Compliance and Disclosure Interpretations (CDIs) relating to Rule 10b5-1 trading arrangements.…
The Capital Commitment
Second Circuit Holds That the Syndicated Term Loans in <em>Kirschner</em> Are Not Securities
By Robert Pommer, Robert Sutton
On August 24, 2023, the Second Circuit Court of Appeals issued its much-anticipated decision in Kirschner v. JP Morgan Chase Bank, holding that the syndicate term loans at issue were not…
The D&O Diary
SPAC-Related Securities Suit Filed Against Medical Payments Recovery Firm
As I have noted on this site, for the last several years (going back at least to 2021, and arguably even further than that), one of the significant factors contributing…
Compliance Building
Kirschner Update: Leveraged Loans are Not Securities
The Second Circuit put the leveraged loan market at ease and ruled that those notes are not securities. The Court had asked the Securities and Exchange Commission to offer its…
SEC Actions
This Week In Securities Litigation (Week of August 28, 2023)
Summer is heading for its traditional close at Labor Day as many have either returned to school or are finalizing their plans. The Commission, however, remained busy at work publishing…
Canadian Lawyer Mag
Fasken partners with AI startup Lexata to research complex securities law questions
Platform allows plain-language searches that rank answers by relevance with verifiable hyperlinks
Corporate Defense and Disputes
Second Circuit Clarifies Nature of Actionable Opinions Under Securities Laws
By Jonathan Richman, Dina Noureldin
The U.S. Court of Appeals for the Second Circuit held that a statement of opinion that reflects some subjective judgment can nevertheless be actionable under the securities laws if it…
The Securities Law Blog
SEC Adopts Amendments to Exemption From National Securities Association Membership
The Securities and Exchange Commission today adopted rule amendments that narrow the exemption from Section 15(b)(8) of the Securities Exchange Act of 1934, which requires any broker or dealer registered…