Free Speech, Due Process and Trial by Jury
In this edition of Litigation Roundup, a man who alleges he was shorted two ounces of beer by Cinemark files a class action lawsuit against the movie chain, an East Texas jury hits Samsung with a $142 million patent infringement verdict in a damages redo trial, and a new SEC trading surveillance initiative draws a constitutional challenge.
Until last week, federal circuit courts were split on whether so-called “pure omissions” could support securities fraud claims under Securities Exchange Act Rule 10b-5(b). For those not fluent in the application and enforcement of Rule 10b-5(b), its text does not exactly roll off the tongue and its concepts can be tricky to apply in practice.
“I make no excuse for my actions,” Connie Jo Clampitt of Dallas, one of four people to plead guilty in the healthcare fraud case, tells U.S. District Judge Brantley Starr.
In this Q&A with The Lawbook, Mallett discusses her time at the SEC, the challenges facing the SEC’s Fort Worth Regional Office, the SEC’s expansion of its whistleblower program and the impact on Texas businesses, and other SEC enforcement trends that impact companies and those in the financial investment world.
According to an SEC order, employees of Senvest Management, which oversees $3 billion in assets, repeatedly discussed company business in personal texts and other “off-channel” platforms in violation of federal securities laws.
Joseph DeLeon, who helped former FBI agent Bill Stone cheat a Granbury woman out of more than $750,000, apologized and said he, too, was a victim of the grift. But U.S. District Judge Ada Brown was having none of it.
In a case that presented the court with an issue of first impression, the panel wrote that it would “decline to open that Pandora’s box of frivolous appeals” by exercising jurisdiction in the case. Christopher Novinger had unsuccessfully tried to undo the gag order provision he agreed to in July 2022, and failed again Tuesday.
The U.S. Securities and Exchange Commission filed federal fraud charges Thursday against 17 sales workers with a Houston-based cryptocurrency trading company for allegedly operating a $300 million Ponzi scheme targeting more than 40,000 investors — most of them Latinos.
Following a nearly two-year wait, the Securities and Exchange Commission released its Final Rule — The Enhancement and Standardization of Climate-Related Disclosures for Investors — on March 6. The Final Rule requires publicly listed U.S. companies and foreign private issuers to disclose certain climate-related information in their registration statements and annual reports. This article identifies five key takeaways from the Final Rule.
U.S. District Judge Brantley Starr sentenced former Medoc Health Services Chief Executive Kevin Kuykendall and his wife, former vice president of finance, Sabrina Kuykendall on Wednesday. A poignant moment came from the judge at the conclusion of the hearing, when he addressed the Kuykendalls’ two adult sons who sat in the gallery.
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