Securities Law

  • Ralph Ferrrara of Proskauer sounded critical notes about the proposed rule.

    Biglaw, Events, Securities and Exchange Commission, Securities Law, Sponsored Content

    The Proposed SEC Clawback Rule: A Photo Essay

    Thanks to everyone who made our panel discussion last week such a success!

    / Nov 16, 2015 at 4:01 PM
  • At Wednesday night's discussion of the SEC clawback rule. Left to right: Joe Patrice, Ralph Ferrara, Marc Powers, and Thornton McEnery.

    Biglaw, Events, Securities and Exchange Commission, Securities Law, Sponsored Content

    Is The Proposed SEC Clawback Rule A Mistake? Some Expert Perspectives

    What should lawyers tell their clients about the SEC’s proposed clawback rule?

    / Nov 13, 2015 at 2:51 PM
  • Keila Ravelo

    Morning Docket

    Morning Docket: 11.13.15

    * Steven Metro, an ex-managing clerk at Simpson Thacher who was accused of passing insider info about mergers and other business transactions to his law school buddy in a $5.6 million insider trading scheme, has pleaded guilty. He faces up to 20 years in prison. [Reuters]

    * Remember Keila Ravelo, the Willkie Farr partner who allegedly stole millions from that firm and her prior firm, Hunton & Williams? It turns out her involvement in the $5.7 billion MasterCard/Visa antitrust settlement could ultimately become its kiss of death. [Big Law Business / Bloomberg]

    * Chief Judge Morrison England (E.D. Cal.) says he and his colleagues are incredibly overworked, sometimes putting in more than 80 hours per week. It’s too bad it doesn’t make a difference — the court is at a “crisis point” in its backlog of cases. [WSJ Law Blog]

    * Last summer, a federal judge ruled the death penalty was unconstitutional in California because an appeals process with the “slight possibility of death” was cruel and unusual. Here’s a real shocker: the Ninth Circuit overturned the decision. [New York Times]

    * Embattled Pennsylvania AG Kathleen Kane is well past the point of having 99 problems, but there’s no end in sight. Former prosecutors have filed suit against her, alleging she retaliated against them for exposing her alleged criminal misdeeds. [Tribune-Review]

    38 Comments / / Nov 13, 2015 at 8:59 AM
  • STS-125_Crew_Visits_the_Stock_Exchange

    Events, Securities Law

    Join Us To Hear Experts Discuss A Big Potential Change In Securities Law

    Is the proposed SEC clawback rule a mistake?

    / Nov 3, 2015 at 4:04 PM
  • Charcoal logo

    Events, Securities Law

    Is The New SEC Clawback Rule A Mistake?

    Join us November 11 for a discussion of SEC policy.

    17 Comments / / Oct 22, 2015 at 4:35 PM
  • Mary Jo White

    Securities and Exchange Commission

    Watch The SEC’s Mary Jo White Get Publicly Shamed

    Opponents of Mary Jo White’s tenure at the SEC have taken to the streets — in a sense — to protest the Commission’s perceived protection of Wall Street institutions.

    26 Comments / / Sep 15, 2015 at 5:10 PM
  • Dan Abrams (ABC News)

    Morning Docket

    Morning Docket: 09.01.15

    * ABC News chief legal analyst Dan Abrams is suing his neighbors over his lawyerly lair — and one of the defendants is a Biglaw partner at a top firm. Expect more on this later. [New York Post]

    * Speaking of Biglaw, a familiar tale of financial performance: gross revenue at Am Law 100 firms grew by 4 percent in the first half of 2015, but driven by rate increases rather than demand growth. [American Lawyer]

    * If you want the Supreme Court to hear your case, try to steer your cert petition clear of the “long conference,” known as the place “where petitions go to die.” [New York Times]

    * Speaking of SCOTUS, the Court won’t come to the rescue of the Kentucky county clerk who refuses to issue marriage licenses to same-sex couples — time to issue those licenses or quit, Kim Davis. [How Appealing]

    * But the justices did come to the (temporary) rescue of former Virginia Governor Robert McDonnell, allowing him to remain free until SCOTUS acts on his petition for certiorari. [SCOTUSblog via How Appealing]

    * Are criticisms of the S.E.C.’s administrative-law procedures correct? Here’s a study from Professor David Zaring. [New York Times]

    * The Show-Me State leads when it comes to showing defendants to their deaths: Missouri has displaced Texas as the “epicenter of the American death penalty.” [The Marshall Project]

    * Speaking of capital punishment, I predicted that these particular Ninth Circuit judges wouldn’t be too sympathetic to this challenge to the death penalty — and based on yesterday’s oral argument, it seems I was right. [How Appealing]

    33 Comments / / Sep 1, 2015 at 9:07 AM
  • Justice Sonia Sotomayor

    Morning Docket

    Morning Docket: 08.20.15

    * You’ve heard about what it’s like to be a Supreme Court clerk, but we bet you’ve never heard about what it’s like to be a Supreme Court intern. It’s apparently the “opportunity of a lifetime” to do errands and prepare lunch and meals for Justice Sonia Sotomayor. [Supreme Court Brief]

    * If you’re trying to file an effective brief with the Supreme Court, it’s best to write in “relatively short sentences, with a non-confrontational tone.” In other words, you really shouldn’t be trying to emulate Justice Scalia’s “jiggery-pokery” flair. [Big Law Business / Bloomberg BNA]

    * Wachtell Lipton may interested in going “big brother” on its associates, but when it comes to the Securities and Exchange Commission, the firm wants to steer clear of such voyeurism by doing away with clients’ quarterly reports. [Wall Street Journal (sub. req.)]

    * This judge didn’t play “just the tip” when it came to piercing his corporate veil: Paul Hansmeier of copyright-troll firm Prenda Law must pay sanctions to the tune of $64,000 after he drained cash from another one of his firms and then dissolved it. [Ars Technica]

    * Texas Tech Law is introducing a “brain-training” seminar for its first-year law students that will “maximize their brains’ performance.” One wonders if they took such a course before law school if they’d be enrolled in the same place. [Lubbock Avalanche-Journal]

    69 Comments / / Aug 20, 2015 at 8:59 AM
  • Robot Lawyer

    Morning Docket

    Morning Docket: 08.10.15

    * Hot on the heels of the news that the majority of students enrolled in California’s “failure factories” unaccredited law schools drop out before graduation, legislators are pushing for the state bar to do something about it before even more prospective students are conned. [Los Angeles Times]

    * Robots will be coming for your jobs more quickly now thanks to the largest law firm in the world. Dentons invested an untold sum in Ross, an app that will inevitably replace first-year lawyers by utilizing super computer Watson’s artificial intelligence to perform legal research. [Globe and Mail]

    * Slowly but surely, the legal industry is making a comeback in terms of headcount. Sure, the entire profession is only employing 3,500 more people now than it was at this time last year (sorry about that, law school grads), but it’s still an improvement. [Am Law Daily]

    * Just because it doesn’t look like the Securities and Exchange Commission has been doing anything doesn’t mean that lawyers at the agency have been twiddling their thumbs. They’ve got some major things in the works, they swear. [DealBook / New York Times]

    * “I wonder how it feels to save the life of a mass murderer? Good job.” In a shocking verdict, convicted Colorado movie theater shooter James Holmes was sentenced to life in prison. All it took was one holdout juror to take the death penalty off the table. [Reuters]

    13 Comments / / Aug 10, 2015 at 9:00 AM
  • 600px-US-SecuritiesAndExchangeCommission-Seal.svg

    Lateral Moves, Securities Law, Sponsored Content

    Is Securities Litigation’s Future Secure?

    As the rate of securities suits filed increases, prospects for securities litigation associates are expanding as well.

    / Aug 7, 2015 at 4:30 PM
  • Hilary Bricken

    Marijuana, Securities Law

    Cutting Through The Haze Of Securities Laws And Marijuana

    If you are going to take on investment in your cannabis business or invest in the cannabis business of someone else, you should ultimately seek to ensure compliance with all applicable securities laws.

    / Mar 23, 2015 at 4:20 PM
  • Insider trading tastes delicious!

    Barack Obama, Biglaw, Books, Crime, Insider Trading, Law Schools, Morning Docket, Politics, Securities Law

    Morning Docket: 09.22.14

    * Politics and Biglaw just don’t mix: House Republicans hired Quinn Emanuel to handle their suit against President Barack Obama after Baker Hostetler withdrew from the representation due to “political pressure” the firm was facing. [Politico]

    * The paper and napkin-eating “Middleman” in the post-it note insider trading ring pleaded guilty to securities fraud charges. This might make it difficult for his cohorts to substantiate their not-guilty pleas. [DealBook / New York Times]

    * “This is a tale with no shortage of knaves or villains.” If you’re interested in learning about Chevron’s legal wranglings in Ecuador and with plaintiffs attorney Steven Donziger, there are a bunch of interesting new readings for you to peruse. [WSJ Law Blog]

    * Crisis in legal education be damned! They may have bad timing, but these law schools are focusing on building bigger and better facilities for students they’re unable to put in their seats. [National Law Journal]

    * Ohio law schools have taken a bruising in terms of decreased enrollment, but the University of Toledo has faced the worst of it. With a 25.9% reduction in 1Ls, tuition cuts can only do so much. [Toledo Blade]

    1 Comment / / Sep 22, 2014 at 9:07 AM
  • curse1

    Airplanes / Aviation, Federal Circuit, Federal Judges, Free Speech, Law Schools, Morning Docket, Police

    Morning Docket: 06.06.14

    * Federal judges frequently fly across the globe on other people’s dime for conferences and symposia, but 2012′s most frequent flyer is a judge who was recently embroiled in an ethics scandal: Randall Rader of the Federal Circuit. [National Law Journal]

    * Even though she claims nothing is “fundamentally broken,” Securities and Exchange Commission chairwoman Mary Jo White proposed “sweeping” new stock market regulations in an attempt to get with the times. [DealBook / New York Times]

    * U. of Maine wants to combine its business and law schools, but professors are concerned about pressing questions like, “What will the diploma say?” rather than, “Do I get to keep my job?” [Portland Press Herald]

    * Law schools are seen as cash cows for their affiliated undergraduate universities, but this law school is hurting so bad for cash due to low enrollment the university is infusing it with millions. [Minnesota Daily]

    * A Pennsylvania man is suing his local police department for First Amendment violations after he was arrested for cursing in front of officers. N.W.A has a song this guy would like. [Pittsburgh Post-Gazette]

    1 Comment / / Jun 6, 2014 at 9:08 AM
  • Congrats, professor!

    Blogging, California, Crime, Dewey & LeBoeuf, Gay Marriage, Law Professors, Media and Journalism, Morning Docket, Politics, SCOTUS, Securities and Exchange Commission, Securities Law, State Judges Are Clowns, Supreme Court, Ted Olson

    Morning Docket: 06.03.14

    * “I don’t think the government should be in the credentialing business.” Thanks to the whims of politicians, SCOTUSblog is having trouble getting media credentials to continue its coverage of the Supreme Court’s cases. [New York Times]

    * How you like me now? In Redeeming the Dream (affiliate link), a new book co-authored with David Boies, Ted Olson says he experienced “some blowback” when he announced he was taking on the Prop 8 gay marriage case. [WSJ Law Blog]

    * Steve Davis and Steve DiCarmine of failed firm fame think it’s “unfair” they have to defend themselves in a criminal case and an SEC case at the same time. They want the SEC case to be halted. Dewey think the judge will say yes? [Law360 (sub. req.)]

    * Back in 2011, Pillsbury decided to ship its back-office operations to Nashville, and now it’s hiring a small contingent of lawyers to work there. FYI, an Ivy League degree may not be necessary. [Washington Post]

    * Only in Florida would a judge allegedly challenge a public defender to a fight out back during a hearing and start throwing punches. We’ll definitely have more on this fiasco later today. [WFTV Eyewitness News]

    * Peter Mutharika, a former law professor who taught at Washington University in St. Louis Law for about 40 years, is now the new president of Malawi, where it’s illegal to fart. Congrats! [St. Louis Post-Dispatch]

    2 Comments / / Jun 3, 2014 at 9:16 AM
  • angry woman lawyer

    Biglaw, Gender, Job Searches, Law Firm Mergers, Law Firm Names, Law Schools, Morning Docket, Patton Boggs, Securities and Exchange Commission, Securities Law, Women's Issues

    Morning Docket: 05.28.14

    * “[T]hree names are unnecessary, and over time I think you’ll see Squire Patton start to take hold.” Sanders got the boot in this law firm merger, and it won’t be long before Boggs follows. [Am Law Daily]

    * The “great female brain drain” at Am Law 200 firms isn’t slowing down, and it will only get better if Biglaw firms concentrate less on their failed “fix the women” approaches. [Harvard Business Review]

    * Mary Jo White of the SEC promised to dust off an often ignored — but “potentially [] very powerful” — section of securities law to pursue financial violations. Be wary of the “innocent instrumentality” doctrine, defense attorneys. [DealBook / New York Times]

    * We’ve got some breaking news for our readers from the “no sh*t” department: Law school graduates are still having a very tough time getting jobs as lawyers, and there is no real end in sight. [Sacramento Bee]

    * If you’re looking for a way to explain a switch in your undergrad major when applying to law school, show admissions committees how pretty your grades are now. Tada! [Law Admissions Lowdown / U.S. News]

    2 Comments / / May 28, 2014 at 9:08 AM
  • business crime

    Biglaw, Insider Trading, Securities and Exchange Commission, Securities Law, Wall Street, White-Collar Crime

    Biglaw Employee Charged In $5.6 Million Insider Trading Scheme

    At which elite law firm did the defendant work, and from which school did he receive his law degree?

    25 Comments / / Mar 19, 2014 at 12:19 PM
  • lawyers fighting fight club

    3rd Circuit, Deaths, Department of Justice, Federal Government, Federal Judges, Immigration, Judicial Nominations, Law Professors, Law Schools, Minority Issues, Morning Docket, Racism, SCOTUS, Securities Law, Supreme Court, Video games, Violence

    Morning Docket: 03.06.14

    * Foreclosure attorney Bruce Richardson alleges that Hogan Lovells partner David Dunn hit him with a briefcase in front of a court officer. That’s how they roll in state court. (Expect more on this later.) [New York Daily News; New York Post]

    * From cop killer to nomination killer: Mumia’s the word that stopped Debo Adegbile’s nomination to lead the Justice Department’s Civil Rights Division. [Washington Post]

    * In happier nomination news, congratulations to former Breyer clerk Vince Chhabria, as well as to Beth Freeman and James Donato, on getting confirmed to the federal bench for the Northern District of California. [San Francisco Chronicle]

    * It’s been a good week for amicus briefs. Congrats to Professors Adam Pritchard and Todd Henderson for getting the attention — and perhaps the votes — of several SCOTUS justices. [New York Times]

    * How a Cornell law student got her father to foot the bill for half of her pricey legal education. [ATL Redline]

    * As I predicted, the Ninth Circuit’s ruling in United States v. Maloney didn’t sweep the alleged prosecutorial misconduct under the rug by granting the government motion without comment. [The Atlantic]

    * RACEISM™ alert: federal prosecutors allege that deputies to a North Carolina sheriff accused of racial profiling of Latinos shared links to a violent and racist video game. [Raleigh News & Observer]

    * Speaking of mistreatment of Latinos, a recent Third Circuit decision spells good news for some immigrant communities. [Allentown Morning Call]

    * Sarah Tran, the law professor who taught class from her hospital bed, RIP. [Give Forward]

    4 Comments / / Mar 6, 2014 at 9:35 AM
  • Amy Chua: She's baaaaaaack!

    Abortion, Association of American Law Schools, Biglaw, Books, Conferences / Symposia, Football, Gender, Intellectual Property, Jed Rubenfeld, Law Schools, Racism, Securities and Exchange Commission, Securities Law, Sports, Tax Law, Trademarks

    Morning Docket: 01.06.14

    * “Either access to abortion will be dramatically restricted in the coming year or perhaps the pushback will begin.” We’re moving back in history. Here’s hoping pro-choice advocacy will be born anew in 2014. [New York Times]

    * George S. Canellos, the SEC’s co-chief of enforcement, announced his departure on Friday, and people are already wondering whether he’ll return to his old stomping grounds at Milbank Tweed. [DealBook / New York Times]

    * We hope legal educators had fun at the Association of American Law Schools annual meeting, but we hope most of all that they learned what needs to change to really make legal education pay. [WSJ Law Blog]

    * “I believe women lawyers can contribute a lot to the legal system.” Saudi Arabia now has its first female law firm dedicated to bringing women’s issues to the country’s patriarchal courts. Congratulations! [RT]

    * A Starbucks spokeswoman issued a defense to the cease-and-desist response letter that went viral worldwide, and it reads just like how her company’s coffee tastes: bland. [International Business Times]

    * Amy “Tiger Mom” Chua is back with a vengeance, co-authoring a controversial new book (affiliate link) with her husband, Jed Rubenfeld. Which cultural groups are superior? [New York Post]

    8 Comments / / Jan 6, 2014 at 9:28 AM