Dodd-Frank Litigation
“True Lender” Litigation on the Rise: Recent Litigation and Enforcement Actions Challenge Traditional Bank Partnership Model
Banking, Consumer Protection, Litigation Over the last two years the financial industry has seen an uptick in litigation and enforcement actions aimed at banks and their non-bank lending partners. These actions have primarily challenged the validity of the bank partnership model that is used by many non-bank lenders to generate consumer and small dollar business loans. Bank and Non-Bank […] Read more →
Fintech Company Subject to SEC Enforcement Action for Exceeding Rule 701 Option Grant Limit
Employment, Executive Compensation, Litigation, Public Companies and Securities Subject to its limits, Rule 701 permits non-reporting companies to grant employees equity without registration under the Securities Act of 1933. One component of Rule 701... Read more →
Director Discretionary Compensation Awards Tested by Entire Fairness Standard According to Delaware Supreme Court
Employment, Executive Compensation, Litigation, Public Companies and Securities In a recent decision by the Delaware Supreme Court in In re Investors Bancorp Stockholders Litigation, the court found that director equity grants based on director discretion are... Read more →
SEC Brings Enforcement Action for Inadequately Documented Perks but Does Not Impose Penalty
Litigation, Public Companies and Securities The SEC charged a biopharmaceutical company with committing a series of accounting controls and disclosure violations, including the failure to properly report as compensation... Read more →