Steven Slutzky

New FINRA data shows a dramatic drop in advisor expungement requests. Why? Their stricter policies are making the process way too expensive and stacked against advisors. But there's still hope. At AdvisorLaw, we've been pioneering alternative expungement forums for years.  We have a proven track record of success, and we're confident we can help you clear your name. Read more about the FINRA changes and our strategies in our latest industry insight ➡️ #FinancialAdvisor #Expungement #FINRA #AdvisorLaw #ClearYourName #FinancialServices

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Dive into the latest insights from Proskauer Rose LLP's Private Credit Default Index which reveals that default rates have climbed to 2.71% for Q2 2025. Stephen Boyko of Proskauer comments on the strategic utility of these default metrics for private debt fund managers and investors. This rising trend, captured through meticulous tracking of private loans, is essential reading for those in the private credit market. https://lnkd.in/dd6jZv5i #PrivateDebt #PrivateCredit

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Proskauer Rose LLP takes a deep dive into the importance of understanding 'insider' status during private credit restructuring under Chapter 11 bankruptcy cases. The article breaks down the technical definitions and practical consequences, from heightened scrutiny to recharacterization risk. https://lnkd.in/eFSKHQ8j #PrivateDebt #PrivateCredit

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Interesting insights from my partner, Jason Waite, on the potential impacts of the U.S. Department of the Treasury's new outbound investment rule. The rule, which takes effect on January 2, 2025, will restrict outbound investment in Chinese companies in certain sensitive sectors and impose a variety of requirements on U.S. persons and entities.

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Unlock the potential of carve-outs with insights from David McKee and Claudine Cohen. Watch our latest video for key insights on their unique benefits and challenges. https://brnw.ch/21wOqzl #BusinessStrategy #CarveOuts #MergersAndAcquisitions

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Law360 has reported on the Delaware Court of Chancery suit filed by Olshan Frome Wolosky LLP client Martin Siegel, a shareholder of global utility and power company The AES Corp., against eleven of the company’s current and former board members, alleging that the company has "weaponized" advance notice requirements in its bylaws to make it “unreasonably difficult, if not impossible,” for stockholders to nominate candidates for the company’s board. Among the amendments the company made in August 2023 to its bylaws, provisions include an “acting in concert” definition that requires any stockholder who nominates a slate of directors to identify a broad assortment of people in order to make the nomination valid and requiring a nominating stockholder to disclose commercially sensitive performance-related fees it could pay if the value of its company stock appreciates. According to the filing, AES Corp. has stated publicly that it amended its bylaws to address the SEC’s universal proxy card rule that went into effect September 2022, which was intended to make it easier for shareholders to nominate alternative director candidates to company boards but has often resulted in companies adopting onerous advance notice requirements that disenfranchise shareholders. The plaintiff’s motion to expedite asserts that if the Chancery Court does not declare the bylaw provisions invalid before the November 26 deadline to nominate directors for the company’s 2025 stockholders’ meeting, the stockholders' franchise rights will be violated and stockholders will be “permanently harmed.” Olshan Chair of Litigation Lori Marks-Esterman and counsel Jacqueline Ma represent the plaintiff in this matter. #OlshanLaw #Delaware #ChanceryCourt https://lnkd.in/exyWgvr7

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Herrick's Restructuring & Finance Litigation co-chair, Sean O'Donnell, spoke with The Wall Street Journal - Pro Bankruptcy about a recent ruling by the Second Circuit which affirmed the dismissal of all claims in In re: Boston Generating, LLC—a matter that has been litigated for over a decade involving fraudulent conveyance claims arising from a $2 billion leveraged recapitalization. In so doing, the Second Circuit ruled that the Bankruptcy Code’s safe harbor provision for securities contracts payments, 11 U.S.C. § 546(e), applied to the leveraged buyout and pre-empted the plaintiff-appellant-trustee’s state-law fraudulent conveyance claims, which attempted to claw back approximately $708 million from the defendants-appellees. Herrick represented the largest ad hoc group of defendants-appellees in this matter. Read more here: https://lnkd.in/exHT3VVa. #HerrickDoesThat #Restructuring #Litigation

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Lowenstein partners Jeffrey Cohen, Zarema Jaramillo, and Brent Weisenberg will discuss antitrust, group conduct, and code of ethics during the RiemerPlus Credit Conference on September 25. For more information, please visit: https://bit.ly/3XqLx4l #bankruptcy #bankruptcylaw #bankruptcynews #restructuring #antitrust

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The SEC today lost its initial battle to adopt its wide-ranging and extra-territorial Private Fund Adviser rule. The biggest surprise is that the Fifth Circuit vacated the entire rule-- certain parts of the rule (e.g., preferential treatment) were on shakier ground because the SEC relied on statutory authority that appeared directed towards retail investors. But no matter-- the rule as a whole is overturned. What comes next? The SEC will make noises about exploring its legal options, but I wouldn't be shocked to see portions of the rule re-proposed in a much more limited form and based on more sturdy statutory authority. But for now... it's safe to start planning autumn vacations again with the rule's deadlines no longer looming.

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Kessler Topaz Defeats Dismissal Motion in Coinbase Securities Litigation, Investor Claims to Proceed On September 5, 2024, U.S. District Judge Brian R. Martinotti denied Coinbase’s motion to dismiss a shareholder class action against the world’s largest crypto exchange. In a 49-page opinion, the court sustained securities fraud claims brought by Swedish pension fund Sjunde-AP Fonden (AP7) on behalf of investors stemming from Coinbase’s failure to disclose the true business risks facing the nascent crypto platform. These risks included the likelihood that the SEC would pursue an enforcement action against the company for failing to register the digital assets it lists as securities with the Commission. "The court finds plaintiffs have adequately alleged that defendants misleadingly described a favorable picture of the improbability that the SEC would file an enforcement action by repeatedly emphasizing that the crypto assets they listed were not securities," said the judge's order. In June 2023, when the SEC filed its enforcement action against Coinbase, the company’s stock tumbled, causing massive investor losses. The court also sustained AP7’s claim that Coinbase concealed the risk that customers’ crypto assets could be treated as part of the company’s estate in the event Coinbase filed for bankruptcy.  The case, pending in the U.S. District Court for the District of New Jersey, will now proceed to discovery. The KTMC team representing investors includes Matthew Mustokoff, Stacey Kaplan, Margaret Mazzeo, Joshua Materese, Austin Manning, and Dylan Isenberg. The team members were recognized as “Legal Lions of the Week” by Law360 for this important win. https://lnkd.in/e3w5egt8

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Abraham Y. (Avi) Skoff will Co-Chair and Speak at the NYC Bar Association Program Titled "Navigating the Law of Trade Secrets and Restrictive Covenants." This two-day program, focusing on trade secret law, will examine some of an organization’s most valuable assets, from cutting edge technologies to profit-enhancing improvements and beyond. The first half-day session will cover the fundamentals of trade secret law and New York, federal and State law governing the creation, identification, and protection of trade secrets – including the drafting of agreements governing trade secret use and remedies for misappropriation. The second half-day session will be a more in-depth analysis of recent trade secrets litigation, the role of trade secrets law in artificial intelligence and other emerging technologies, the FTC Rule seeking to ban non-compete agreements, and developing State regulation. The panels will include esteemed judges, in-house counsel, representatives from government agencies and top practitioners examining both the plaintiff and defense-side of the law. Click here for more information. https://lnkd.in/eSx-BxfY #NYCBarAssociation #tradesecrets #litigation #emergingtechnologies #noncompetes

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Proskauer’s asset management litigation team explores how recent SEC statements on indemnification and exculpation provisions could lead to regulatory scrutiny in the latest article of the Top Ten Regulatory and Litigation Risks for Private Funds in 2024 series. https://bit.ly/3U3WXYy #Proskauer #regulatory #privatefunds #privatecapital #SEC

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What can you do with your #DigitalAssets? Check out our recent conversation with Gary Cardone below.

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In West Palm Beach Firefighters’ Pension Fund v. Moelis & Company, the Delaware Court of Chancery held that certain provisions in a stockholder agreement violated Section 141(a) of the General Corporation Law of the State of Delaware. Section 141(a) is viewed as a bedrock of the DGCL and states that “the business and affairs of every corporation organized under this chapter shall be managed by or under the direction of a board of directors, except as may be otherwise provided in this chapter or in its certificate of incorporation.” Learn more about the decision and how it impacts stockholder agreements and corporate governance arrangements in the corporate law update from Matthew McDonald and Elizabeth Webb Bucilla . Link in comments! #CorporateLaw #StockholderAgreement #CorproateGovernance #ShareHolderAgreement #netde #DelawareLaw #CorporateUpdate #CourtOfChancery

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Wolf Popper LLP is Investigating Whether the Sale of Thoughtworks Holding, Inc. (NASDAQ: $TWKS) Is Fair to Shareholders #joinclassaction #joinclassactions #corporatetransactional #securitieslitigation #leadplaintiff #ClassActionLawsuit #securitiesclassaction #classactions #shareholderactivism #lawfirm Link in Comments with more details about the case and how to get involved

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“We are experiencing a substantial transformation in the SPAC market, particularly in terms of compliance expenses and regulations. Everyone involved in SPAC transactions must be aware of these developments,” said Brian Zucker, CPA, a Partner at Rosenberg Rich Baker Berman, P.A. and Managing Member at RRBB Advisors, LLC. He will present “Deep Dive: The Cost of Compliance in SPACs” at the 7th annual SPAC Conference on June 11 in Rye, NY, hosted by our friends at DealFlow Events. Get all the details in our latest news post! #SPAC #SEC #Compliance

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Spousal Lifetime Access Trusts (SLATs) provide a powerful tool for married couples seeking to protect their assets while maintaining flexibility and control. In this article, trust experts Jonathan G. Blattmachr and Matthew Blattmachr, outline the benefits and considerations for SLATs. Key points include: - How SLATs allow for continued access to assets through one's spouse - Avoiding the reciprocal trust doctrine when both spouses create trusts - Tax implications of SLATs as grantor trusts Read the full article for valuable insights on incorporating SLATs into your estate plan. https://lnkd.in/gWUN-SRD #SLAT #EstatePlanning #AssetProtection #WealthManagement #MarriedCouples #Trustee #PeakTrust #Fiduciary #TrustOfficer #GrantorTrust

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