New SEC private company stock rules-–and new markets for minority shareholders–offer new opportunities
Last month the SEC sent a letter stating that the agency is “moving toward easing decades-old constraints on share issues by private companies, in a sweeping review that could remake the way American start-ups raise capital,” says Jean Eaglesham in the Wall Street Journal. Learn what possible changes could alter both the liquidity and marketability [...]
Challenges to fairness opinions discussed at CLE webinar
On Thursday, July 15 valuation expert Craig Jacobson (Citrin Cooperman & Company) and attorney Jeffery Rothschild (McDermott Will & Emory) will join BVR for “Fairness Opinions: Judging Transactions in Today’s Economy.” Through their 100-minute webinar, Jacobson and Rothschild will review how changes in regulation, case law, and the economy have changed the landscape for fairness [...]
Bilksi affirmed, allowing business process patents
In one of the most highly anticipated, long-awaited patent decisions, the U.S. Supreme Court finally decided Bilski v. Kappos yesterday afternoon. The Court held that the Federal Circuit Court’s so-called “machine or transformation” test is not the only test for a patentable process (requiring it to be tied to a particular machine or apparatus, or [...]
Limit placed on financial expert in criminal securities fraud case backfires
United States v. Schiff, 2010 WL 1338141 (C. A. 3 (N.J.))(April 7, 2010) Since the U.S. Supreme Court’s decision in Dura Pharmaceuticals v. Broudo, 544 U.S. 336 (2005), federal courts have required shareholders in civil securities litigation to use financial experts to prove loss causation. That is, the plaintiffs will likely need an expert event [...]
Current securities claims winding down, losing value
In 2009, 7,137 security litigation claims were filed with FINRA, a 43% increase compared with 2008 (4,982 cases filed). Most of the disputes asserted breaches of fiduciary duty, misrepresentation/fraud, negligence, and breach of contract related to common stock and mutual funds. However, cases concerning limited partnerships interests showed a notable spike: 73 filings in 2009 [...]
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