Shepherd, Finkelman, Miller & Shah, LLP
Shepherd, Finkelman, Miller & Shah, LLP
866-540-5505 877-891-9880

Dedicated Client Advocacy

Securities Archives

Whistleblower Is Awarded $2.2M Under Dodd-Frank Safe Harbor Rule

On April 5, 2018, the Securities and Exchange Commission ("SEC") announced that it has awarded $2.2 million to a whistleblower whose initial tip to another federal agency led to an SEC enforcement action. This marks the first instance in which the SEC has awarded a whistleblower for information from a tip that was previously reported to a different federal agency.

SCOTUS steps in with key Dodd-Frank whistleblowing ruling

Financial regulators from the U.S. Securities and Exchange Commission have long insisted that the impressive protections extended whistleblowers under the seminal Dodd-Frank legislation be liberally construed. That is, they are stated to apply to individuals who bring fraud-related charges to both the SEC and via other outlets, such as to company managers, various agencies and members of Congress.

What are the basics underlying Dodd-Frank whistleblowing?

Congress passed the consumer-protective Dodd-Frank legislation in 2010. The law's passage owed partially to a widespread belief that greater safeguards needed to be established for individuals brave enough to step forward and identify violations of U.S. securities laws within their companies.

Uber to Pay Waymo $245 Million in Equity to Settle Trade Secret Lawsuit

On February 9, 2018, Uber Technologies Inc. ("Uber") and Waymo LLC ("Waymo") announced a deal in which Uber will pay Waymo 0.34 percent of its equity to settle Waymo's claims that it stole trade secrets and infringed patents related to Waymo's proprietary laser system used to help guide driverless vehicles. At a $72 billion valuation, 0.34 percent of Uber's equity equates to approximately $245 million. As part of the deal, Uber also has agreed not to incorporate Waymo trade secrets into its autonomous vehicle hardware and software.

Tesla Sued Over Production Delays

On October 10, 2017, a suit was filed in the U.S. District Court for the Northern District of California against Tesla, Inc. ("Tesla" or the "Company") over an alleged nondisclosure of information about production delays for its Model 3 sedan, which resulted in a four percent drop in its stock price.

Ruling on UPS ERISA Suit over Benefits Cap Reversed by Ninth Circuit

On Friday, September 8, 2017, a three-judge panel for the U.S. Court of Appeals in the Ninth Circuit reversed U.S. District Judge Cathy Ann Bencivengo's summary judgment award to United Parcel Service of America Inc. ("UPS") and Blue Cross and Blue Shield of Illinois ("BCBS") (collectively, the "Defendants"), which held that Defendants were not in violation of the Affordable Care Act ("ACA") or the Public Health Service Act ("PHSA") in capping Gary King's ("Plaintiff") lifetime health insurance coverage benefits, and that they did not violate the disclosure requirements of the Employee Retirement Income Security Act ("ERISA") in their informing plan participants about the cap.