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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...

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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...

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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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Ninth Circuit Criticizes Overuse Of Extrinsic Documents By Defendants Seeking To Dismiss Securities Fraud Cases

September 14th, 2018

On August 13, 2018, the Ninth Circuit Court of Appeals issued a decision in Khoja v. Orexigen Therapeutics, Inc., No. 16-56069, 2018 WL 3826298 (9th Cir. Aug. 13, 2018) reversing the United State District Court for the Southern District of California’s (“District Court”) dismissal under Fed. R. Civ. P. 12(b)(6) of a securities class action brought against Orexigen Therapeutics, Inc....

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Federal Court Sustains Criminal Securities Fraud Case Over Initial Coin Offering

September 13th, 2018

U.S. District Judge Raymond J. Dearie of the Eastern District of New York ruled Tuesday that a criminal case alleging that Maksim Zaslavskiy committed securities fraud in connection with the sale of cryptocurrency tokens may proceed to trial. The government claims that Zaslavskiy defrauded more than a thousand investors by lying about the prospects of his initial coin offerings, REcoin and...

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