Dodd-Frank Litigation
SEC Tells How to Fix the Faulty Initial Coin Offering
Litigation, Public Companies and Securities The SEC simultaneously announced a pair of settled enforcement actions related to illegally offered ICOs with extensive remedial provisions to fix the faulty offerings. You can find the enforcement actions here (Airfax) and here (Paragon). The first step is to issue a press release stating you are going to offer to give everyone their money back. […] Read more →
Court Declines to Approve Settlement in Director Pay Suit
Employment, Executive Compensation, Litigation, Public Companies and Securities In Stein v. Blankfein et al the Delaware Court of Chancery considered a proposed settlement of litigation against directors of Goldman Sachs. The related complaint contained two... Read more →
How to Read a MAC / MAE Clause
Litigation, M&A Akorn, Inc., v. Fresenius Kabi AG et al will undoubtedly become known as the first case where a Delaware court found a material adverse effect, or MAC (often referred to as a... Read more →
SEC Charges Hedge Fund with 13D Violation
Investment Advisers, Litigation, Private Equity, Public Companies and Securities The SEC charged a hedge fund sponsor that manages private funds and separately managed accounts focused on global distressed, special situations, and opportunistic investing with... Read more →