Search Results for: STOCK Act

The US Department of Labor (DOL) Tuesday announced a final rule that allows Employee Retirement Income Security Act (ERISA) plan fiduciaries to consider climate change and other social and governance factors when they select retirement investments and exercise shareholder rights. The final rule is “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.” In response [...]

Australian law firm Maurice Blackburn Lawyers filed a class action for shareholders of the Star Entertainment Group (Star Casino). The class action alleges Star Casino engaged in misleading and deceptive condition, breached casino disclosure obligations and acted contrary to the interests of shareholders from March 2016 through March 2022. Maurice Blackburn Lawyers stated, “The proceeding [...]

Washington Attorney General Bob Ferguson Tuesday sued the grocery store chains Albertsons and Kroger for violating the Washington Consumer Protection Act (CPA). The case is filed in the Washington King County Superior Court. On October 14, Albertsons and Kroger agreed to merge. Albertsons said it will issue a $4 billion “Special Cash Dividend” to its [...]

The US Court of Appeals for the Fifth Circuit Tuesday reheard arguments in a case filed by gun rights activist Micheal Cargillo to challenge a Trump-era ban on bump stocks. Cargill filed a petition for a rehearing en banc in January, arguing that the challenged rule misclassifies a bump stock as machine guns.  After a 2017 [...]

US President Joe Biden Tuesday signed the Inflation Reduction Act (IRA) into law. Biden lauded the act’s sweeping healthcare, tax, and climate reforms. According to Senate Democrats, the IRA achieves eight main objectives: Expands Medicare benefits by ensuring free vaccines and price caps on insulin and out-of-pocket drug costs; Lowers energy costs through tax credits [...]

The Security and Exchange Commission (SEC) Monday filed charges against former US congressman Stephen Buyer for insider trading. The SEC’s complaint states that when “Buyer left Congress in 2011 and set up a consulting company called the Steve Buyer Group,” in both 2018 and 2019 Buyer used material non-public information from two clients “to trade securities [...]

The US Court of Appeals for the District of Columbia Circuit Monday ruled the Securities and Exchange Commission (SEC) can keep its revised regulations on how stock market data is collected, consolidated, and disseminated. In 2020 the SEC introduced the new Market Data Infrastructure Rule. The rule “modernize the national market system for the collection, [...]

The Singapore High Court Thursday convicted Malaysian businessman and woman, John Soh Chee wen and Quah Su-Ling for market manipulation and cheating offences that led to the 2013 penny-stock crash. Local media outlets have said that the 2013 crash was the outcome of Singapore’s most serious case of market manipulation, as it wiped out more than [...]

When Vladimir Putin decided to invade Ukraine in February, the international community responded with “unprecedented” and “severe” sanctions against Russia. Their expansive scale essentially leads to Russia’s economic and even political isolation. The purpose of the sanctions is clear: to punish Putin’s regime for the violation of international law and stop its military aggression against [...]

Russian forces, in an act of breathtaking barbarity, have invaded Ukraine, an independent, sovereign nation that has in recent years looked to the West for its inspiration and guidance. And with this military move, several deeply embedded international laws have been violated by Russia in what can only be described as a “criminal war of [...]