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New York Law Journal

GE Agrees to $362.5M Deal to End Shareholder Claims Over Power, Insurance Risks

The deal between General Electric and investors represented by Kessler Topaz Meltzer & Check had been reached in the lead-up to a trial that would have seen the company and investors squaring off on when executives became aware of what shareholders called “an undisclosed ticking time bomb."
2 minute read

New York Law Journal

Warner Bros. Accused of Misleading Investors on NBA Talks

Richard Collura alleges that Warner Bros. only came clean about the riskiness of its contract renegotiation efforts in August, after it logged a $9.1 billion noncash goodwill impairment charge from, among others, “uncertainty related to affiliate and sports rights renewals, including the NBA.”
3 minute read

The Legal Intelligencer

The Increase in Artificial Intelligence-Related Securities Class Actions

The earliest AI-related securities class action lawsuit was filed on March 24, 2020. Since then, there has been a total of 38 AI-related filings. Five lawsuits were filed in 2020, eight in 2021, six in 2022, six in 2023, and 13 so far in 2024.
10 minute read

National Law Journal

SEC Obtained Record $8.2 Billion in Financial Remedies for Fiscal Year 2024, Commission Says

The $8.2 billion figure includes $6.1 billion in disgorgement and prejudgment interest, also the highest amount on record, and $2.1 billion in civil penalties, the second-highest amount on record, the SEC added.
3 minute read

The Recorder

Musk Avoids Sanctions for Skipping SEC Testimony for Rocket Launch

The decision does not include a finding that Elon Musk violated a court order to sit for testimony, but that does not mean the court has cleared him of allegations that he violated it by failing to appear in September.
3 minute read

National Law Journal

UPS Agrees to $45M Settlement With SEC Over Valuation Claim

The U.S. Securities and Exchange Commission accused the shipping company of failing to follow generally accepted accounting principles and “materially misrepresenting its earnings” while valuing its freight business in preparation for a sale.
2 minute read

National Law Journal

Supreme Court Drops Facebook's Appeal in Securities Case as 'Improvidently Granted'

The unexplained dismissal followed a hearing during which the justices struggled to determine when a company must disclose that a future risk to its business has occurred in the past.
4 minute read

National Law Journal

SEC Chair Gary Gensler to Resign on Trump's Inauguration Day

Gensler made a regulatory choice on the crypto industry that was characteristic of a heated classic debate in administrative law: the degree that you want to consult with the industry in your enforcement, said Dorothy Lund, a leading expert on securities regulation.
3 minute read

National Law Journal

Gensler Defends Work at SEC in What Sounds Like Farewell

Securities and Exchange Commission Chair Gary Gensler touches on controversial cryptocurrency and climate disclosure regulations in likely valedictory speech.
3 minute read

Law.com

Lawsuits Mount Over Moderna's RSV Vaccine

The newest case is the fifth to bring similar allegations against Moderna in the same court, with three others, all filed Nov. 5, surfaced by Law.com Radar.
2 minute read

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