Securities Law

1319 ABA Journal Securities Law articles.

Former BigLaw partner gets prison sentence for work on behalf of Martin Shkreli

A former income partner at Katten Muchin Rosenman was sentenced to 18 months in prison on Friday for conspiracy to commit wire and securities fraud in connection with his representation…

Financial fraud enforcer rips crypto culture for letting compliance slide

Financial crimes enforcers are watching cryptocurrency practitioners—and they don’t like what they see.

Blood-testing company Theranos CEO Holmes and company president indicted

Elizabeth Holmes, the CEO and founder of blood-testing company Theranos, was indicted Friday on wire fraud charges.

Also indicted was Ramesh “Sunny” Balwani, a Theranos employee who had worked as…

Lawyer is acquitted in alleged scheme to inflate stock price; actress’s ex-husband is convicted

A Las Vegas lawyer has been acquitted of all charges in an alleged scheme to manipulate the stock price of a technology company.

Federal jurors in Brooklyn, New York, acquitted…

Appeals court overturns $34.5M malpractice verdict against Holland & Knight
A California appeals court has overturned a $34.5 million malpractice award against Holland & Knight that had stemmed from the firm’s legal work on behalf of an Atlanta developer accused of making false representations to investors and misappropriating their cash.
Whistleblower’s $33M award sets an SEC record
Three whistleblowers will receive $83 million for their whistleblowing that led to a Securities and Exchange Commission investigation and a $415 million settlement.
CEO of blood testing company Theranos is accused of ‘massive fraud’ in SEC complaint

The founder and CEO of blood testing company Theranos has agreed to settle civil fraud charges filed Wednesday by the Securities and Exchange Commission.

The SEC says Theranos CEO…

Judge cites ‘multitude of lies’ and sentences Martin Shkreli to 7 years in prison
A federal judge in Brooklyn, New York, sentenced a tearful Martin Shkreli to seven years in prison for securities fraud Friday after he told the court he was there because of his “gross, stupid and negligent mistakes.”
US Treasury says money transmitter rules apply to initial coin offerings

The U.S. Department of Treasury raised a potential hurdle for those offering or allowing for the trade of initial coin offerings (ICOs).

In a letter from Drew Maloney, the assistant…

One-of-a-kind Wu-Tang Clan album and lawyer payments at risk as a result of Shkreli forfeiture order

A federal judge in Brooklyn, New York, has ordered former drug company CEO Martin Shkreli to forfeit $7.36 million in connection with his conviction for securities fraud.

U.S. District Judge…

Blockchain-based initial coin offerings chart uncertain legal terrain
An initial coin offering allows accredited investors to bankroll the creation of a blockchain that will repay them in “coin” or “token" credits that can be traded. Unlike an initial public offering, an ICO does not confer equity in the company.
Whistleblowers aren’t protected by Dodd-Frank absent SEC complaint, Supreme Court rules

The Dodd-Frank financial oversight law doesn’t protect securities whistleblowers from retaliation unless they report the alleged violation to the Securities and Exchange Commission, the U.S. Supreme Court ruled on Wednesday.

Lawyer pleads guilty to aiding pump-and-dump scheme with IOLTA funds, opinion letters
A Colorado lawyer has pleaded guilty to conspiracy for aiding a pump-and-dump scheme that netted her about $30,000.
Milberg Weiss founder Melvyn Weiss dies at 82

Melvyn Weiss, a founder of securities class-action law firm Milberg, Weiss, Bershad, Hynes & Lerach, has died at the age of 82.

Weiss, “a giant of the plaintiffs bar,” had…

Supreme Court accepts cases on appointment of SEC judges, retailer sales taxes, redistricting

The U.S. Supreme Court granted review in 12 cases Friday, including a challenge to the appointment process for administrative law judges at the Securities and Exchange Commission.

At issue in…

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