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Key Points - Supreme Court eliminates FCA scienter defense based solely upon an objectively reasonable interpretation of ambiguous law when defendant has subjective knowl...
The U.S. Court of Appeals for the First Circuit on Jan. 3, 2023, ruled against Defendant Gregory "Emmanuel" Lemelson's request for a new trial in SEC v. Lemelson.
On July 26, 2022, Judge Robert W. Gettleman of the United States District Court for the Northern District of Illinois Eastern Division granted in part and denied in part a motion for...
During 2021, securities case filings fell for the second consecutive year and, for the first time since 2016, fewer than 300 federal securities class…
To embed, copy and paste the code into your website or blog: California's statutes requiring that publicly held corporations have a minimum number of female directors and directors from "underrepresented communities" rely upon the individual's self identification. Cal. Corp. Code §§ 301.3(f)(1) & 301.4(e)(1). Self-identification seems to leave the question entirely up to the individual. However, the self-identification standard raises concerns about potentially liability under the securities laws for allegedly opportunistic or unproved identifications. First, although self-identific...