Fox Rothschild is proud to be the host sponsor of IMPACT 2013 Venture Summit – the most established venture summit in the Northeast. This year’s conference will be held October 22 and 23 at the Ritz-Carlton, Philadelphia and Crystal Tea Room.

 As the premiere event of the Philadelphia Alliance for Capital and Technologies (PACT),

Regulators seem to believe that lawyers and their law firms act like ostriches when it comes to their clients and Ponzi schemes.  For example, a law firm paid $25 million to settle malpractice claims over legal services rendered to certain hedge funds and related entities controlled by a Ponzi Scheme artist, Arthur Nadel.  See SEC

A California federal court refused to dismiss negligence and other state law claims against a law firm for allegedly helping its client commit federal securities law violations.  See Donell v. Nixon Peabody, LLP, C.D. Cal., No. CV 12-04084 DDP (JEMx), 9/5/12.

In this suit brought by the receiver of a defunct investment firm, the court rejected the

In an interesting decision arsing out of a securities fraud action, plaintiffs were allowed to serve a non-American defendant corporation’s chief executive officer – a citizen of Canada – by alternative means.  See In re GLG Life Tech Corp. Securities Litigation, S.D.N.Y., 11 Civ. 09150 (KB) (GWG), 11/9/12.

The court indicated such service would provide notice

As many regular blog readers know, I have participated as an expert witness before.  It is fascinating to share with our readers other epxert experiences as well.  

Nonetheless, a number of issues relating to experts in securities cases have arisen over the last year.  In particular, many cases involve the threshold question as to if it is possible

The SEC’s Division of Corporation Finance has indicated that lawyers for issuers and issuers themselves should focus on and respond to the SEC’ Staff’s comments during the corporate filing review process.  

The SEC’s Staff has seen that issuers and their counsel are not necessarily responding completely to comments.  The SEC Staff believes that this has caused the process

We take a step back and speak directly to attorneys for a change, in particular, those lawyers who may recommend stockbrokers to their clients. 

In New York, attorneys are subject to the tort of negligent referral if they were to refer such a stockbroker, who then causes damage to the client.  Consequently, prior to making any such