The Fifth Circuit on Wednesday upheld a Nasdaq rule requiring companies listed on its exchange to have women and minority directors on their boards or provide an explanation as to why they do not.
The founder and former CEO of Nikola Corporation, a Tesla competitor, was charged in a securities fraud scheme in the Southern District of New York on Thursday. Trevor Milton is accused of defrauding and misleading investors about the development of his company’s products and technologies in order to drive investor demand.
On Monday, June 22, 2020, the United States Supreme Court issued a ruling in Liu v. Securities and Exchange Commission, 591 U.S. ___ (2020). In an 8-1 decision, the Supreme Court held that, in civil enforcement cases brought by the Securities and Exchange Commission, "[a] disgorgement award that does not exceed a wrongdoer's net profits and is awarded for victims is equitable relief permissible under [15 U.S.C.] §78u(d)(5)."