The case marks the first crypto enforcement action under Paul Atkins, the new Chairman of the SEC. Commenting on the action, Scott Thompson, Associate Director of the SEC’s Philadelphia Regional Office We will continue to investigate and take action against bad actors who take advantage of investors with In a parallel action, Defendant was arraigned on criminal charges brought by the U.S. [t]he promoter promises a high return in a short period of time; [n]o genuine product or service is actually

here), the Appellate Division, First Department addressed various issues concerning fraud causes of action Skyview filed the action on February 3, 2020, alleging that Conduent breached the APA and misrepresented

movant.[6] “To meet its burden, the defendant must establish, inter alia, when the plaintiff’s cause of action Lambos was shareholder derivative action, brought both individually and as a shareholder of B.K. On July 19, 2023, plaintiff commenced the action, asserting causes of action for breach of fiduciary with prejudice, finding that the applicable statute of limitations was three years and, as such, the action Court also held that the motion court “erred in determining that plaintiff failed to state a cause of action

It bypasses traditional pleading and discovery and is available when the action is based on an instrument As discussed below, the motion court denied the motion and converted the matter to a plenary action. Takeaway A plaintiff may seek relief under CPLR 3213 when the action is based upon an instrument for

Rather than earning profits through actual investments or legitimate business operations, the scheme Little to no actual income is generated by the promoter. (here), an enforcement action involving an alleged Ponzi scheme, originally based on affinity fraud, Of the Bridge Loans defendants actually made, only a few had been paid in full, claimed the SEC. Unfortunately, we’ve seen this movie before – bad actors luring investors with promises of seemingly

Freiberger Appearing in an action may give rise to a waiver of a litigant’s right to challenge the court As explained in prior blog articles, it is axiomatic that a “plaintiff appears [in an action] merely CPLR 320(a), which sets forth, inter alia, how a defendant can appear in an action, provides that “[t An informal appearance occurs “by actively litigating the action before the court.” in time to defend the action.

Plaintiff commenced the action in 2019 against defendant and the Corporation seeking, among other things

In general, “to prevail on a cause of action to recover a commission, the broker must establish (1) that The plaintiff commenced an action to recover a brokerage fee and moved for summary judgment arguing that

rate exceeding 25%.”[1] General Obligations Law § 5–521 bars a corporation from asserting usury in any action except in the case of criminal usury as defined in Penal Law § 190.40, and then only as a defense to an action to recover repayment of a loan, and not as the basis for a cause of action asserted by the corporation Plaintiff commenced the action following defendants’ alleged breach of a revenue purchase agreement ( After the alleged event of default, plaintiff commenced the action for breach of the agreement and personal

rate exceeding 25%.”[1] General Obligations Law § 5–521 bars a corporation from asserting usury in any action except in the case of criminal usury as defined in Penal Law § 190.40, and then only as a defense to an action to recover repayment of a loan, and not as the basis for a cause of action asserted by the corporation statutory exception for interest exceeding 25 percent per annum is strictly an affirmative defense to an action This is because the defendant’s collection of sales proceeds is contingent upon the plaintiff actually

Haber How do anti-money laundering programs detect suspicious activity? Because of this, Raymond James was unable to detect, prevent, and report suspicious activity, according establish AML programs that were suited for each business unit and that "red flags" for suspicious activity attention that is being paid to money laundering, the consequences of failing to weed out suspicious activity

Securities Litigation 101: Commencing and Contesting a Federal Securities Class Action Panelist: Jeffrey Haber A motion to dismiss often proves a decisive event in resolving a federal securities class action overview of the legal issues and strategic considerations that inform the filing of a securities class action