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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...
New York State Increases Protections against Sexual Harassment in the Workplace
October 9th, 2018
On Tuesday, October 9, 2018, New York workers will be assured additional resources to combat sexual harassment in the workplace. Employers in the Empire State will be required to establish a sexual harassment prevention policy in accordance with new standards promulgated by the New York State Department of Labor (“NYSDOL”), and to provide workers with a complaint form to report incidents...
Tesla and Musk Settle for $40 Million with SEC over Musk’s Misleading Tweet
October 2nd, 2018
The U.S. Securities and Exchange Commission (“SEC”) filed a civil complaint on September 27, 2018 against Tesla’s Chief Executive Officer Elon Musk (“Musk”) for making false and misleading statement to investors. The SEC’s complaint focuses on a tweet that Musk sent out on August 7, 2018 in which he states that he is “considering taking Tesla private at $420” and that he had...
California Federal Court Approves “Excellent” $166 Million Settlement for Direct Purchasers of Lidoderm
September 17th, 2018
Last week, a federal judge in California approved a $166 million settlement for a class of direct purchasers who bought the pain medication drug Lidoderm. Faruqi & Faruqi served as co-lead counsel for the class and the firm’s Chair of the Pharmaceutical Litigation Department, Peter Kohn, addressed the Court at the final approval hearing. The settlement marks the culmination of over four...
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