Paper Industry Loses Bid to Review SEC’s Paperless Report Rule

The D.C. Circuit rejected a challenge brought by a paper-industry-backed consumer group, Twin Rivers Paper Company, against a Securities and Exchange Commission rule that allows investment companies to distribute shareholder reports electronically and mail paper copies upon request.

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Judge Dismisses Shareholder Action Over Pharma Company’s Marketing of Opioid Treatment Drug

(CN) – A New York District judge granted pharmaceutical company Alkermes PLC’s motion to dismiss a shareholder class action alleging the company misrepresented sales figures and comparative effectiveness for a drug developed to treat opioid dependence.

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9th Circuit Upholds SEC Summary Judgment Against Convicted Heart Tronics Fraudster

The 9th Circuit sided with the Securities Exchange Commission in an action against Heart Tronics Inc. and attorney Mitchell Stein, who fraudulently inflated the company’s stock price while working as its outside counsel. 

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Appellate Panel Vacates Penalties After Defendant’s Death

The Securities and Exchange Commission claimed victory in the 9th Circuit after an appellate panel affirmed a judgment against a financial planning corporation for selling unregistered securities, but a named defendant’s death during the appeal spared his estate of civil penalties.

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Lehman Bros. Whistleblower’s Suit Sinks in First Circuit

(CN) – A Lehman Brothers employee who claims she was fired for whistleblower violations after she reported securities violations missed her filing deadline and couldn’t bring her lawsuit in federal court, a First Circuit panel held.

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