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12 Feb 2024, 6:07 am by Kevin LaCroix
  The complaint summarizes that “[n]o prudent fiduciary would agree to make its plan and beneficiaries pay a price that is two-hundred-and fifty times higher than the price available to any individual who just walks into a pharmacy and pays out-of-pocket. [read post]
31 Jan 2024, 9:01 pm by renholding
The ramifications of this decision could be significant, as the SEC often uses its in-house courts to seek monetary penalties, and studies reveal that the SEC wins cases it brings in its in-house courts at a much higher rate than those it tries in federal court.[6] We also should expect plaintiffs to attempt to maneuver in light of the Supreme Court’s decision in Slack Technologies LLC v. [read post]
17 Dec 2023, 9:03 pm by renholding
Howey Co.,[2] an investment contract exists when there is the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others. [read post]
26 Sep 2023, 9:01 pm by renholding
Several banks assigned portions of the term loan made to Millennium Laboratories LLC (“Millennium”) to institutional investor groups, including mutual funds, hedge funds and other institutions. [read post]
4 Sep 2023, 9:01 pm by renholding
Security Pacific National Bank, 973 F.2d 51, 56 (2d Cir. 1992). [13]      Kirschner, 2023 WL 5437811, at *13; see also id. at *10–*11. [14]      Id. at *11–*13. [read post]
16 Aug 2023, 10:52 am by Kevin LaCroix
[vii] The SEC claimed that Jarkesy, along with his advisory firm Patriot28, LLC, made false representations to their investors, including falsely advising that a prominent accounting firm and investment bank served as the funds’ auditor and broker, respectively, and misrepresenting the funds’ investment strategies and overvaluing the funds’ holdings. [read post]
5 Jul 2023, 7:33 am
Brooklyn Brew Shop, LLC, 2020 U.S.P.Q.2d 0914, at *9 (T.T.A.B. 2020), affirmed in relevant part, vacated in part, remanded, 17 F.4th 129, 2021 U.S.P.Q.2d 1069, at *3 (Fed. [read post]
5 May 2023, 9:32 am by Eugene Volokh
Dow Jones & Company, Inc., the First Department affirmed dismissal of an investment adviser's claim that a Wall Street Journal reporter engaged in tortious conduct by obtaining information from employees bound by non-disclosure agreements (178 AD3d 572, 574 [1st Dep't 2019]). [read post]
27 Mar 2023, 9:01 pm by renholding
Although the number of securities lawsuits filed this year remained steady compared to 2021, we have seen many notable developments in securities law. [read post]
22 Feb 2023, 1:07 pm by Dennis Crouch
Patent TPLF funds generally promise roughly 20% internal rates of return to funders (IRR) year-over-year, or about a 2x to 2.5x return on investment over generally four- or five-year investment cycles, suggesting, at least at the pitch level, that these investments are lucrative for the funders.[15]  The biggest (or at least most well-known) players—Magnetar Capital, Burford Capital, Fortress Investment Group, Omni Bridgeway, and Curiam Capital, to name… [read post]