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The Tenth and D.C. Circuit Courts of Appeal have come to opposite conclusions in response to constitutional challenges to the Securities Exchange Commission’s (the “SEC’s”) appoin...
On December 22, 2016, the Federal Reserve released a staff paper on the implementation of the Volcker Rule and its impact on bond market liquidity, particularly in times of market stress....
The Delaware Court of Chancery recently ruled that a form of fee-shifting bylaw linked to exclusive forum provisions is invalid.
Six months after Delaware adopted DGCL Section 109(b) to r...
On January 4, the U.S. Federal District Court for the Northern District of California issued a decision in a case brought by shareholders against Volkswagen arising out of the well-public...
In October 2016, the SEC proposed rules that would, if adopted, substantially impact proxy contests at U.S. public companies. Under the SEC’s proposal, each party – management and one...
On Thursday, December 22, PHH and the Solicitor General of the United States filed briefs in response to the CFPB’s petition for en banc review in PHH v. CFPB. As we have previously di...
In late December 2016, Teva Pharmaceutical Industries Ltd. (“Teva”), the world’s largest generic pharmaceutical manufacturer, entered into a deferred prosecution agreement (“DPA?...
On December 1, 2016, the Financial Action Task Force (“FATF”) released a peer assessment of the United States’ anti-money laundering and combatting the financing of terrorism (“AM...
On Wednesday, December 21, 2016, Brazilian construction conglomerate Odebrecht S.A. and its affiliate Braskem S.A. pled guilty in the United States District Court for the Eastern District...
The SEC issued two orders concerning violations of Exchange Act Rule 21F-17 this week. On December 19, the Commission issued an order concerning NeuStar Inc., a technology company based ...