Bravado is inherent to the tech startup culture. Entrepreneurs are, after all, trying to sell you something. Nobody wants to invest in a company founder who promises to restrict their thinking to inside the box while ensuring the envelope remains intact. Outright falsehoods delivered via unsupported exaggeration, however, are problematic. The latest tech company facing […]
Every day in New York and throughout the United States and its territories, people place their trust in financial advisers. They do so in the hopes that their investments will provide them profit and security. While many people in the financial industry do their jobs as instructed and adhere to the law while focusing on […]
Shareholders for CBS requested a federal judge in New York to provide a class-action certification in a 2018 lawsuit filed against the broadcasting company’s CEO, Les Moonves. The lawsuit alleges securities fraud based on the assertion that the company duped investors into purchasing stock by misrepresenting sexual misconduct allegations lodged against Moonves. Shareholders specifically accuse […]
Hedge funds are a class of alternative investments. Most people have heard of hedge funds, but it’s sometimes difficult to define precisely what they do. Part of that is because hedge funds are so secretive. Investors in New York should understand that hedge funds are exempt from many of the disclosures that other investment companies […]
In a lawsuit filed in a New York federal court, the Consumer Financial Protection Bureau (CFPB) accuses an investment firm and its owner of violating the unfair, deceptive, or abusive acts or practices provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The litigation seeks compensation for consumers who were allegedly deceived as […]
Victims of securities fraud in New York might want to know about a recent Supreme Court decision that preserved disgorgement as an equitable remedy for securities fraud while also providing contours for its applications. Disgorgement might allow the victims of securities fraud to be made financially whole but is not intended as a punitive measure. […]
New Yorkers might be interested to learn that a big law partner at two major law firms in Washington, D.C., has agreed to a three-year suspension of his law license following his conviction for insider trading. The man previously worked as an intellectual property partner at Arent Fox and Hunter & Williams in Washington, D.C. […]
Insider trading occurs when a person learns of an event that is likely to affect a company’s stock price. The event may either have a positive or a negative impact on the stock’s price. The individual must then make a trade based on information that is not available to the public. Most often, the perpetrators […]
The Securities and Exchange Commission (SEC) is accusing a former Florida man of operating a “long-running scheme designed to deceive investors,” a plan that netted tens of millions of dollars from unwitting victims. According to the SEC’s allegations, the Sarasota man founded a hedge fund company in 2012, claiming its main sub-fund focused on U.S.-listed financial […]
Investors in New York need to be aware of financial statements fraud when they are trying to determine whether to invest in stocks. This is a type of securities fraud that is prevalent within corporate America. There are several signs that a company has manipulated its financial statements that investors should watch for before they […]