Posted by Jeff Thomas and Malika Simmons Historically, federal and state securities laws have made equity crowdfunding extremely difficult in the United States.1 However, equity crowdfunding laws that create new exemptions from costly registration requirements have recently been passed in several states including Michigan, Kansas, Indiana, and Wisconsin.2 Several other states have similar legislation pending.3…
Month: May 2015
Chapter 11 Attorney’s Fees
The compensation of a debtor’s attorneys in Chapter 11 bankruptcy is a balancing act. There are two issues to consider. First, for every dollar paid to an attorney, the size of the debtor’s estate decreases, meaning unsecured creditors recover less of their claims. Second, if attorneys do not represent the estate because they are not…
Blurry Lines
There is nothing blurry about a $7.4 million jury award. On March 11, a jury in Los Angeles ruled that Robin Thicke, Pharrell William, and Clifford Harris Jr.’s (also known as T.I.) 2013 summer hit, “Blurred Lines”1 infringed on the copyright for Marvin Gaye’s 1977 “Got to Give It Up.”2 The jury ordered “Blurred Thicke, Williams and Harris…
Insider Trading: Congressional Response
In December 2014, the U.S. Court of Appeals for the Second Circuit in United States v. Newman, 773 F.3d 438 (2d Cir. 2014), overturned the insider trading convictions of hedge fund managers Todd Newman and Anthony Chiasson.1 The court held that the “personal benefit” that an insider who reveals confidential information must receive in exchange…