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Business Crimes Hotline
Securities Commission Malaysia Issues Maximum Fine for Deloitte Related to 1MDB Audits
Columns & Departments
Business Crimes Hotline
Securities Commission Malaysia Issues Maximum Fine for Deloitte Related to 1MDB Audits
Features
Robbing a Locked Bank Vault from Home: Legal Issues Raised by Cryptocurrency Frauds
Cryptocurrency theft remains a major concern for traders and investors given that billions of dollars of cryptocurrency are stolen every year. These cutting-edge problems intersect in interesting ways with companies' existing fraud and anti-money laundering concerns, but it all starts with the cryptocurrency "wallet."
Features
Secured Creditors Beware of Your Descriptions, Nomenclature and Terminations
Secured creditors can learn a great deal from a few recent bankruptcy cases involving the Uniform Commercial Code that remind us that the “devil is in the details.” These cases show that it is unrealistic to expect forgiveness by a court after a misstep involving Article 9 of the UCC.
Features
Robbing a Locked Bank Vault from Home: Legal Issues Raised by Cryptocurrency Frauds
The advent of cryptocurrencies has raised a host of legal issues; some of the most immediate ones — such as whether cryptocurrencies are securities — appear to have been resolved, but cryptocurrency theft remains a major concern for traders and investors given that billions of dollars of cryptocurrency are stolen every year.
Features
Fifth Circuit Affirms Shareholder Veto of Chapter 11 Petition
“Federal law does not prevent a bona fide shareholder from exercising its right to vote against a bankruptcy petition just because it is also an unsecured creditor,” held the U.S. Court of Appeals for the Fifth Circuit in <i>In re Franchise Services of North America, Inc.</i> According to the court, applicable Delaware law would not “nullify the shareholder's right to vote against the bankruptcy petition.”
Features
When Is a Bid or Offer a 'Spoof'?
<b><i>U.S. Supreme Court Denial of Cert Leaves Statute Vague</i></b><p>This article analyzes the confusion faced by commodity futures traders in assessing whether their trading strategies constitute illegal spoofing and examines whether the CFTC and Seventh Circuit have provided sufficient guidance on the distinction between spoofing and legitimate trading activity.
Features
Preparing for Proxy Season 2018: A Primer for General Counsel
As we enter 2018, public companies across the United States will begin, in earnest, their preparations for this year's proxy season and annual shareholder meetings. It is not an understatement to say that 2017 was a tumultuous year on many fronts — economically, politically and globally. As a result, general counsel should have several issues on their radar that could play a role in 2018's proxy season.
Features
SEC's New Cyber Unit Moves to Tackle 'Scam' Coin Offering
<b><i>In the First Enforcement Action Initiated By Its New “Cyber Unit,” the SEC Announced It Has Secured a Court Order to Freeze the Assets of Individuals Behind a “Scam” Initial Coin Offering</b></i><p>In the first enforcement action initiated by its new “Cyber Unit,” the Securities and Exchange Commission (SEC) recently announced it has secured a court order to freeze the assets of individuals behind a “scam” initial coin offering, or ICO.
Features
DE Supreme Court Clarifies Role of Deal Price In Appraisal Fair Value Determination
Corporate practitioners have been closely following developments in Delaware's shareholder appraisal litigation. Much of the interest concerns the court's "fair value" determination and the risk that an acquiring company will have to pay appraisal petitioners more than the merger deal price. In a much-anticipated decision, the Delaware Supreme Court provides valuable guidance about the relative importance of the deal price in the court's adjudication of the "fair value" of a petitioner's shares.
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