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The SEC Issues Investigative Report Cautioning Public Companies To Consider Cyber Threats When Implementing Internal Accounting Controls
October 23rd, 2018
The United States Securities and Exchange Commission (“SEC”) issued an investigative report on Tuesday, October 16, 2018 cautioning public companies to consider cyber threats when implementing internal accounting controls. See Press Release. The SEC’s investigation focused on the internal accounting controls of nine issuers in a variety of industries who each lost at least $1 million...
New California Law on Blockchain Technology
October 23rd, 2018
California recently passed Senate Bill No. 838 (the “Bill”), which will allow private and social purpose corporations incorporated in-state to use blockchain technology to issue stock and keep corporate records via blockchain technology. Blockchain is the technology behind cryptocurrencies like Bitcoin and Ethereum that have garnered recent excitement from investors and consternation...
It May Be Fall But the Generic Pricing MDL Springs Forward
October 18th, 2018
On October 16, 2018, the United States District Court for the Eastern District of Pennsylvania (Rufe, J.) entered an opinion and order denying over 30 separate motions to dismiss filed by 15 generic manufacturers named as defendants in the Generic Pharmaceuticals Pricing Antitrust multidistrict litigation. The Generic Pricing MDL alleges a conspiracy among numerous generic manufacturers to...
Bitcoin Price Plummets Amid Reports of Regulatory Scrutiny and Market Manipulation
October 10th, 2018
Bitcoin’s price has decreased 60% since reaching its record high last year. This can be attributed to at least two factors: regulatory scrutiny and market manipulation. Regulatory Scrutiny: This past August, the Securities and Exchange Commission (the “SEC”) rejected nine applications for cryptocurrency exchange traded funds. These funds, which are baskets of cryptocurrencies bundled...
Ninth Circuit Reverses Lower Court Decision On Trans Fat Labeling Class Action
October 10th, 2018
On October 4, 2018, the United States Court of Appeals for the Ninth Circuit reversed the lower court’s ruling in Hawkins v. The Kroger Company, No. 3:15-cv-02320, holding that a “0g Trans Fat” claim on the front of a food label could be misleading to a reasonable consumer when the food contains even a nominal amount of trans fat. The Court found that the “rounding rules” that allow...
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