Securities Law

  • Martin Shkreli

    Crime, Securities Law

    It Turns Out That The Feds Have Been Onto Martin Shkreli For Years

    Incredibly, Shkreli might be even fuller of sh!t than we thought.

    0 Comments / / Jan 28, 2016 at 3:16 PM
  • We think four years of law school is hilarious too, Rudy!  (Photo by Rob Kim/Getty Images)

    Morning Docket

    Morning Docket: 01.28.16

    * Now that Rudy Giuliani’s in the news again thanks to his departure from his namesake firm, he’s letting his opinions be known on all sorts of things relevant to lawyers and law students. In fact, he thinks law school should be four years long. Go back into the woodwork, Rudy. [Big Law Business / Bloomberg BNA]

    * After a decade on SCOTUS, Justice Samuel Alito hasn’t strayed from his conservative roots like some of his colleagues. He “has been every bit as conservative as conservatives could have dreamed — and as liberals would have feared.” [ABA Journal]

    * Prior to Martin Shkreli’s arrest, prosecutors obtained a secret order nullifying attorney-client privilege in communications between the pharma bro and his Biglaw attorney. Per records, this case has been ongoing since before he outed himself as a d-bag. [Reuters]

    * “Whether I want to marry or not, it should be my right to decide.” China’s first-ever lawsuit challenging its ban on same-sex marriage is expected to be heard in court today. In a country as conservative as China, this could be revolutionary. [New York Times]

    * Shake those pom-poms, because the New York Jets have reached a settlement with the team’s cheerleaders in a lawsuit filed over alleged wage theft. The J-E-T-S will pay out $324,000, making it the fourth NFL team to settle such a suit. [New York Daily News]

    66 Comments / / Jan 28, 2016 at 8:57 AM
  • Judge Judy

    Morning Docket

    Morning Docket: 01.20.16

    * Justice Judy? According to a poll conducted by the American Council of Trustees and Alumni, about 10 percent of college graduates think that Judith Sheindlin, aka Judge Judy, serves on the bench of the Supreme Court. [CNN]

    * If you haven’t heard, Houston-based firm Bracewell & Giuliani lost one of its famous name partners this week. Former New York Mayor and founding New York partner Rudy Giuliani is taking his nouns and verbs about 9/11 and heading to presumably greener pastures at Greenberg Traurig. [DealBook / New York Times]

    * Yeehaw! Ride ’em, partners! Orrick Herrington & Sutcliffe is the latest Biglaw firm to open an outpost in Houston, Texas, and there’s no better way to staff an office in the Wild Wild West than to poach 20 partners from your competitor firms. [Texas Lawyer]

    * Texas Wesleyan Law graduates have officially lost the diploma war they’ve been waging against Texas A&M Law. A judge recently dismissed their case for want of any evidence of wrongdoing whatsoever. [National Law Journal via Courthouse News Service]

    * Martin Shkreli is sick and tired of being depicted as nothing more than a “pharma bro” in the press, so he’s decided to get new legal representation in his securities fraud case, as if that’ll somehow solve all of his problems. [Big Law Business / Bloomberg BNA]

    23 Comments / / Jan 20, 2016 at 8:54 AM
  • Evan Greebel and Martin Shkreli

    Morning Docket

    Morning Docket: 12.18.15

    * Both Kaye Scholer partner Evan Greebel (formerly of Katten Muchin) and Turing Pharmaceuticals CEO Martin Shkreli pleaded not guilty to securities fraud charges. Now, the world is left to weep because Skhreli’s Wu-Tang album wasn’t seized. [Reuters]

    * “You are not an American because you got sworn in on a Koran.” The Hate Crimes Unit of the New York Police Department is investigating a series of threatening calls made to Judge Carolyn Walker-Diallo, Brooklyn’s first Muslim judge. [WSJ Law Blog]

    * David Lola, the contract attorney who sued Skadden and Tower Legal for overtime pay with claims he wasn’t practicing law, settled his claims for $75,000. But now we don’t know if doc reviewers are entitled to overtime pay. :( [Big Law Business / Bloomberg]

    * Slater & Gordon, the world’s first publicly traded law firm, continues to watch as its stock price tumbles. The firm’s shares are now worth A$0.89 after it decided to pull its earnings guidance, and they’ve lost 90 percent of their value since April. [The Guardian]

    * That’s not how you’re supposed to examine briefs: A Maryland court commissioner was charged with visual surveillance with prurient intent and misconduct in office after allegedly using his cellphone to take an upskirt photo of a courthouse employee. [AP]

    65 Comments / / Dec 18, 2015 at 8:50 AM
  • Martin Shkreli (Photo by Andrew Burton/Getty)

    Biglaw, Crime, Securities Law

    Biglaw Partner Arrested With Martin Shkreli — Pharma Karma

    A Biglaw partner was arrested this morning!

    52 Comments / / Dec 17, 2015 at 9:28 AM
  • Black tape at Harvard Law School.

    Morning Docket

    Morning Docket: 11.27.15

    Ed. note: We hope you had a nice Thanksgiving. As we mentioned before Thanksgiving, we’ll be on a reduced publication schedule today.

    * Randall Kennedy, one of the African-American Harvard Law School professors whose portraits got marked with black tape, shares HLS alum Elie Mystal’s reaction to the incident: he is unimpressed. [New York Times]

    * In other Harvard Law news, an HLS librarian got arrested after police claim he tried to arrange a sexual meet-up with a deputy posing as an underage girl in Colorado (site of a librarians’ conference). [Boston Globe]

    * Former Supreme Court clerk Brianne Gorod argues that SCOTUS can and should decide Texas’s challenge to President Obama’s executive action on immigration this Term (i.e., before the 2016 election). [Constitutional Accountability Center via How Appealing]

    * Ohio State law student Madison Gesiotto is not happy with how administrators responded when one of her conservative columns prompted a threat from a fellow student. [Washington Times]

    * The SEC just dropped its civil insider trading case against former SAC Capital Advisors LP portfolio manager Michael Steinberg. [WSJ Law Blog]

    * Let’s rank the top 10 women Supreme Court justices! Oh wait, there are only four…. [National Law Journal]

    * Linda Greenhouse offers her reflections on “Sex After 50” (at SCOTUS). [New York Times via How Appealing]

    * The father of Paul Walker is suing Porsche for negligence and wrongful death over the 2013 car crash that killed Walker, of “Fast and Furious” fame. [AP via WSJ Law Blog]

    17 Comments / / Nov 27, 2015 at 9:02 AM
  • 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