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In the volatile biotechnology sector, it is common for a company’s stock price to soar when news breaks that the company has received approval from the FDA to launch a new drug. For most of these companies, however, FDA approval is just the first step on a long journey, and history teaches us…
When a broker fails to execute a buy or sell order from a customer, the broker may be liable to the customer under several different legal theories, including negligence, breach of fiduciary duty, and/or breach of contract. Negligence “A duty of reasonable care applies to the broker’s performance of its obligations…
Illiquid alternative investments have been a cause of particular concern for securities regulators and watchdogs in recent years. Among the products that have garnered the most notoriety are non-traded Real Estate Investment Trusts (“REITs”), non-traded Business Development Corporations (“BDCs”), and oil and gas private placements. Non-Traded REITs A REIT is an investment…
A battle is underway in a federal district court in Florida between the SEC and Carl Ruderman, the disgraced former CEO and Chairman of 1 Global Capital, LLC, over whether allegedly fraudulent investments issued by 1 Global Capital are “securities” for purposes of applying federal securities laws. The outcome of…