Insights

A federal appeals court, in U.S. Securities and Exchange Commission v. Christopher Clark, recently reversed a lower court’s decision and remanded the case for a jury trial on civil insider trading claims based on suspicious trading and circumstantial evidence, with no direct proof of wrongdoing by the defendant. With this new ruling, the Securities and…

Client Alerts | March 16, 2023 | Commercial and Corporate Litigation | Regulatory Defense | Risk Management

The U.S. Department of Justice (the “DOJ”) and the U.S. Securities and Exchange Commission (the “SEC”) recently brought criminal charges and civil claims for insider trading against Terren S. Peizer (“Peizer”), the Chief Executive Officer and Chairman of the Board of Directors of Ontrak Inc., a publicly traded healthcare company, despite Peizer’s use of a…

Client Alerts | March 14, 2023 | Commercial and Corporate Litigation | Regulatory Defense | Risk Management

The Delaware Supreme Court has held that fraudulent conduct by corporate officers and directors is insurable in Delaware.  This consequential decision, RSUI Indemnity Company v. Murdock, 2021 BL 76083 (Del. Mar. 3, 2021), is inconsistent with the public policy of many other states, and likely will have an immediate effect on Delaware-based corporations involved in…

Client Alerts | March 15, 2021 | Commercial and Corporate Litigation | Risk Management

The ICE Benchmark Administration (“IBA”) announced earlier this week that it will consult on its intention to extend publication of the overnight and one-, three-, six-, and 12-month USD LIBOR rates until June 30, 2023. The June 2023 extension, however, applies only to legacy contracts—no new USD LIBOR contracts will be permitted after 2021.1 The…

Client Alerts | December 3, 2020 | Commercial and Corporate Litigation | Derivatives | Hedge Funds | Risk Management

On July 29, 2020, the Superior Court of California, County of Los Angeles, handed down a decision with potentially great significance to parties to contracts with Delaware forum selection clauses. West v. Access Control Related Enterprises, LLC In 2017, plaintiff William West (“West”) sued his former employer, Access Control Related Enterprises, LLC (“ACRE”) in California,…

Client Alerts | September 3, 2020 | Commercial and Corporate Litigation | Employment Litigation

By Opinion and Order dated August 3, 2020 in the case of State of New York v. United States Department of Labor, Judge J. Paul Oetken, of the United States District Court for the Southern District of New York, invalidated four key components of the regulations issued by the Department of Labor (“DOL”) clarifying the…

Client Alerts | August 17, 2020 | Risk Management | Employment Litigation | Commercial and Corporate Litigation