In its recently released annual analysis of securities class action litigation, PricewaterhouseCoopers observes that while 2013 may not have been a particularly noteworthy year in the securities class action litigation arena, “significant events and announcements in 2013 have set the stage for potentially sweeping changes in the future.”
In an April 14, 2014 Opinion (here), the D.C. Circuit struck down a portion of the SEC’s conflicts minerals rules as violative of the First Amendment, while at the same time upholding the other challenged portions of the Rules.
During the time I have known Mr. Robert James (“Bob”) Cimasi, he has generously shared his insights, data and resources about the healthcare industry.
“Not Conflict Free” Product Description Requirement of Conflict Minerals Rule Violates First Amendment
As you recall, shortly after the SEC issued the Conflict Minerals Rule, several trade groups challenged the rule in federal court. The trade groups challenged the SECs cost-benefit analysis, questioned the SECs discretionary choices, and claimed that certain requirements in the rule violate the First Amendment.
D.C. Circuit Vacates Dodd-Frank Conflict Minerals Provision & SEC Rule As Violating First Amendment Free Speech
The United States Court of Appeals for the District of Columbia today, in National Association of Manufacturers v. SEC, affirmed a district court judgment that the Securities and Exchange Commission (SEC) did not violate procedural requirements or misconstrue the statute in promulgating the Conflict Minerals Rule, but vacated the specific underlying statutory provision and the rule because the requirements compelled speech in violation of the First Amendment to the United States Constitution.
Multiple plaintiffs filed purported class action lawsuits against defendant Consumerinfo.com, Inc., alleging violations of California’s consumer protection laws.
Like my status, and send me money. Facebook is about to get even more involved in people’s lives and wallets. Facebook is planning to jump into the financial services sector. Specifically, Facebook is planning on becoming a player in the world of electronic money and payments.
Each week we receive calls from people, many of them attorneys, asking us if we can obtain bank records as part of our asset searching. The short answer is, though we probably can obtainthe records, we absolutely will not.
In the second and last part of the series (click here for Part 1) we introduce additional considerations and risks associated with lending in Latin American jurisdictions.
The State of Texas is the most recent state to announce a formal policy with regard to virtual currencies. The Texas Department of Banking (DOB) issued a supervisory memorandum on April 3, 2014, interpreting how virtual currencies, including cryptocurrencies, will be regulated under the Texas Money Services Act. You can find the memorandum here.