Why would 15 lawyers leave one of the largest law firms in town and start up their own? They're tapping into a new market that's growing as a result of the bad economy.
Securities industry veteran Paul A. Merolla joins Murphy & McGonigle's New York office. Merolla has had a distinguished career in the securities industry, having served as General Counsel for Instinet Group Incorporated as well as previously serving in senior legal positions at Goldman Sachs Co., Inc.
The Second Circuit has issued its first opinion analyzing the 15 year-old safe harbor provision in the Private Securities Litigation Reform Act (PSLRA) for forward-looking statements that become the subject of a Rule 10b-5 lawsuit. The opinion, Slayton v. American Express,1 has several important implications for public companies and their officers, directors and advisors. This Client Alert is intended to help public companies and their management and advisors understand Slayton’s implications for evaluating whether the forward-looking statements will be sufficiently protected by the PSLRA’s safe harbor. The Slayton decision contains important prescriptions for drafting forward-looking statements and related cautionary statements in periodic reports filed by public companies.
The boutique law firm trend continues, with more partners splitting from their big and midsize firms and striking out on their own.
Speech by SEC Staff: Statement at News Conference Announcing Virginia Financial and Securities Fraud Task Force
This article examines the unit’s new enforcement approach in dealing with complex products, its hotlycontested big first case, and its likely areas of future prosecutorial interest as it rolls out more investigations and cases in this challenging part of the SEC’s enforcement program.