Texas Orders Cayman Islands Crypto Firm to Pay $424,000 and Cease Doing Business
The consent order is part of a nationwide investigation in which Nexo Capital Inc. agreed to pay $22.5 million in fines related to the sale of unregistered securities.
Prominent Texas Criminal Defense Attorney Gets the Hollywood Treatment
A new five-part Showtime series about the criminal trial of the Branch Davidians who survived the siege in Waco 30 years ago begins streaming today. Houston defense attorney Dan Cogdell, who won an acquittal for his client Clive Doyle, is played by the actor Giovanni Ribisi. The Texas Lawbook had a chance to chat with Cogdell about both experiences,the real and the cinematic.
Beyond Fraud: How the SEC’s Activision Case Portends Expansion of the Agency’s ESG Reach
The Securities and Exchange Commission doesn’t regulate everything a public company does. Or does it?
SEC practitioners are grappling with that question in the wake of the agency’s recent $35 million settlement with video game developer Activision Blizzard, where the SEC leveraged an inconspicuous internal controls rule to sanction alleged corporate conduct that had no evident impact on the company’s public reporting. Despite the hefty civil penalty, the Activision settlement does not entail allegations of fraud or deceit, or that Activision misstated or omitted anything at all. There are also no allegations that investors were harmed or put at risk.
‘So You’re Telling Me There’s a Chance!’
At a Texas Lawbook-SMU Forum, white-collar defense lawyers David Gerger and Tom Melsheimer reveal how they overcame big problems to win big cases.
DOJ Announces Significant Policy Changes Affecting Corporate Criminal Enforcement
On the heels of its recent Corporate Enforcement Policy updates, the U.S. Department of Justice announced several new policies around executive compensation clawbacks, ephemeral messaging, and the intersection of corporate crime and national security. The eagerly expected announcements provide tangible guideposts for all companies on key hot-button issues. Questions persist, however, about consistent enforceability of such policies as well as material differences between DOJ's guidance and other rules under federal securities laws for public companies and regulated entities.
Former Justice Michael Massengale’s Mission: ‘Set the Record Straight’ About Uvalde
As a Houston arbitrator and former appellate justice, Michael Massengale was the perfect lawyer for the Texas House investigatory committee to choose to help investigate and write the official report about that tragic day last May when so much went wrong and 19 children and two teachers were murdered. For the first time since the report was released, Massengale has given an in-depth interview to Texas Lawbook reporter Janet Elliott about his role in the investigation, the challenges he and the committee faced and his hopes for legislative improvements to police training and school safety.
Prosecutors Secure Plea Deal, Won’t Retry Ex-Blue Bell CEO
Paul Kruse agreed Wednesday to plead guilty to a misdemeanor and pay a $100,000 fine rather than face another felony fraud trial. Kruse’s attorney, Chris Flood, said the settlement confirms what he’s been saying all along: No one at Blue Bell ever intended to defraud its customers.
Chron: Meet New SDTX U.S. Attorney Alamdar Hamdani, Son of a Cab Driver
Alamdar Hamdani, who was recently sworn in as the chief federal law enforcement officer for the Southern District of Texas, provided free legal representation to members of the South Asian and Muslim community who were interviewed by the FBI after the Sept. 11 attacks. In an exclusive interview with the Houston Chronicle, Hamdani said he "realized people who looked like me or shared my parents' faith would be looked at differently" and he will use that "valuable experience" as an immigrant and person of color to analyze cases during his tenure as a U.S. attorney. "I am thankful and I am humbled that I am the U.S. attorney and all I can do is make my mama proud," Hamdani said.
Veteran Dallas Prosecutor Tapped as EDTX U.S. Attorney
If confirmed by the U.S. Senate, as expected, Damien Diggs would be the first Black U.S. attorney in the 166-year-old Eastern District.
Pivotal Year on the Horizon for Texas Cryptocurrency Miners
As the so-called crypto winter chases weaker and less committed participants from the market, the remaining players will likely see a vastly changed landscape once the snow melts. From the dot-com bust of the early century to the fallout of the global financial crisis of 2007-2009, market trauma has ultimately led to a heightened regulatory response, and one would expect the effort to regulate the cryptocurrency industry—something that was well underway even prior to 2022—will gain significant momentum in the coming year, not just in terms of crypto’s intersection with securities law but also its relevance to the ongoing energy transition.