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A securities class action ( SCA ), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws . In cases involving misleading statements ...
The Private Securities Litigation Reform Act of 1995, Pub. L. Tooltip Public Law (United States) 104–67 (text), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability ...
Wells notice. A Wells notice is a letter that the U.S. Securities and Exchange Commission (SEC) sends to people or firms at the conclusion of an SEC investigation that states the SEC is planning to bring an enforcement action against them. The notice informs the people or the firm in question that the SEC has concluded that they should be ...
Securities regulation in the United States is the field of U.S. law that covers transactions and other dealings with securities. The term is usually understood to include both federal and state-level regulation by governmental regulatory agencies, but sometimes may also encompass listing requirements of exchanges like the New York Stock ...
In addition to the SEC’s new data breach disclosure rules, the regulator has also added a new line item called Item 106 to the Regulation S-K that will be included on a company’s annual Form ...
Qualcomm agreed to pay $75 million to resolve a lawsuit in which shareholders accused the chipmaker of defrauding them by hiding its anticompetitive sales and licensing practices. It requires ...
Even more controversial than the letters themselves is the practice of buying securities subject to a big boy letter and then reselling the securities to a third party without disclosing the existence of the "big boy letter." This practice is the subject of ongoing litigation and debate among persons familiar with securities markets.
Jake Chervinsky, chief legal officer at Variant Fund, said on X that Failla noted other problems with the SEC’s suit like its “poor understanding” of the technology. “This doesn’t mean ...