KMK Law Complex Litigation Blog

On January 25, 2018, the SEC filed a sealed civil Complaint in federal court in Dallas against AriseBank and its founders. The Complaint alleged that the defendants had committed securities fraud in raising more than $600 million in an initial coin offering ("ICO") of AriseCoin, starting in December 2017. The SEC immediately made a series of rapid legal moves designed to gain control of AriseBank and its assets.

The Supreme Court recently concluded its October 2014 Term; we have provided a summary of the most recent decisions.

While most ERISA litigators are anxiously awaiting the Supreme Court’s decision in Fifth Third Bancorp v. Dudenhoeffer, (Sup. Ct. Dkt. 12-741), they should also be paying close attention to the Supreme Court’s upcoming decision in Halliburton v. Erica P. John Fund, Inc. (Sup. Dkt. 13-317). 

Last week, the Sixth Circuit issued a ruling which defined the standard in the Sixth Circuit for liability under Section 11 of the Securities Act of 1933, created a circuit split, and likely garnered the attention of the Supreme Court.