News

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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:...

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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...

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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...

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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...

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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...

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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...

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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...

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Oh My Darling, Memantine: Summary Judgment Denied and Class Certified in the Namenda case

August 22nd, 2018

On August 2, 2018, Judge McMahon denied Forest’s motion for summary judgment and granted certification of a class of Direct Purchasers in In re Namenda Direct Purchaser Antitrust Litigation. ...

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New York Congressman Indicted on Insider Trading Charges

August 16th, 2018

New York Congressman Christopher Collins (“Collins”) was recently arrested and charged with insider trading.  The indictment alleges that Collins, who served on the Board of Directors of...

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A Supreme Court Decision and Executive Order Change the Hiring Process For the SEC’s Administrative Law Judges

August 1st, 2018

On June 21, 2018, in its ruling in Lucia v. Securities and Exchange Commission, No. 17-130, the United States Supreme Court held in a vote of 7-2 that the Securities and Exchange Commission’s...

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