Laura H. Posner, a partner in the Securities Litigation & Investor Protection practice, has recovered billions on behalf of defrauded investors. Her cases include 6 of the top 100 securities fraud class action settlements of all time, including In re Wells Fargo, the 17th largest securities fraud recovery for investors ever. Laura has also been instrumental in successfully resolving for hundreds of millions of dollars and sweeping governance changes, groundbreaking derivative actions arising out of allegations of sexual misconduct and race discrimination, including obtaining the first ever, and to date only, demand futility decision in such a case.
Laura is also a partner in the firm’s Ethics & Fiduciary Counseling practice, where she works closely with public pension plan trustees and administrators across the country to navigate changing economic conditions and organizational challenges and advises on governance matters and management of investment portfolios.
Prior to joining the firm, Laura was appointed by the New Jersey Attorney General to serve as the Bureau Chief for the New Jersey Bureau of Securities – the top securities regulator in New Jersey. In that capacity, she was responsible for administrating and enforcing the New Jersey Uniform Securities Law and regulations thereunder, as well as managing and overseeing the employees who staff the Bureau of Securities. Cases prosecuted under Laura’s direction as Bureau Chief resulted in hundreds of millions of dollars in recoveries for New Jersey residents and more than 20 criminal convictions.
Outside of the firm, Laura is a thought leader on investor protection issues, helming the Institute for Law & Economic Policy, a public policy research and educational foundation focused on the development of securities law and investor and consumer access to the civil justice system, drafting numerous successful amici briefs to the U.S. Supreme Court and appellate courts across the country, and serving on the Public Policy Council of the CFP Board.
- Institute for Law & Economic Policy, President
- CFP Board, Public Policy Council Member
- New York City Bar Securities Litigation Committee, former Chair
- North American Securities Administrator’s Enforcement Committee, former Chair
- Bureau Chief, New Jersey Bureau of Securities, Office of the New Jersey Attorney General
- Enforcement Chair, North American Securities Administrators Association (NASAA)
- Member, Multi-Jurisdictional Action Committee, NASAA
- Member, Technology Committee, NASAA
- Member, State Legislation Committee, NASAA
- New York
- Harvard Law School, J.D., 2004
- University of California, Los Angeles, B.A., magna cum laude, 2001
Current Cases
IBEW Local 98 Pension Fund v. Deloitte
IBEW Local 98 Pension Fund v. Deloitte (D.S.C.): Cohen Milstein is sole Lead Counsel in this putative securities class action against Deloitte for allegedly breaching its external auditor duties related to SCANA’s multi-billion-dollar nuclear energy expansion project in South Carolina - the largest fraud in South Carolina history.
Set Capital, et al. v. Credit Suisse Group AG, et al.
Set Capital, et al. v. Credit Suisse Grp. AG, et al. (S.D.N.Y.): Cohen Milstein is Co-Lead Counsel in this path-breaking securities class action alleging fraud and market manipulation of XIV Exchange Traded Notes. On March 17, 2023, the court certified one of three proposed investor classes.
Northwest Biotherapeutics, Inc. v. Canaccord Genuity LLC, et al.
Northwest Biotherapeutics, Inc. v. Canaccord Genuity LLC, et al. (S.D.N.Y.): Cohen Milstein is leading this securities litigation against market makers Canaccord Genuity LLC, Citadel Securities LLC, G1 Execution Services LLC, GTS Securities LLC, Instinet LLC, Lime Trading Corp., Susquehanna International Group LLP, and Virtu Americas LLC for repeated market manipulation tactics involving the spoofing of company stock.
Phunware, Inc. v. UBS Securities LLC
Phunware, Inc. v. UBS Securities (S.D.N.Y.): Cohen Milstein is leading this securities litigation against UBS Securities for Its repeated market manipulation tactics involving the spoofing of Phunware's stock.
In re Bristol-Meyers Squibb CVR Securities Litigation
In re Bristol-Myers Squibb Company CVR Securities Litigation (S.D.N.Y.): Cohen Milstein is sole Lead Counsel in this securities class action arising from Bristol Myers’ alleged subversion of the FDA approval process for the cancer therapy Liso-cel for the purpose of avoiding a $6.4 billion payment to holders of contingent value rights (CVRs).
Past Cases
In re Wells Fargo & Company Securities Litigation
In re Wells Fargo & Company Securities Litigation (S.D.N.Y.): Cohen Milstein, as Co-Lead Counsel, represented Public Employees' Retirement System of Mississippi and the Employees Retirement System of Rhode Island in this securities fraud class action. Plaintiffs alleged that Wells Fargo and certain former executives misrepresented its compliance with a series of 2018 consent orders with the CFPB, OCC, and the Federal Reserve arising from the Bank's widespread consumer fraud banking scandal. On September 8, 2023, the Court granted final approval of a historic $1 billion settlement, which is the largest securities class action settlement in 2023, the sixth largest in the last decade, the ninth largest ever in the Second Circuit, and the 17th largest ever. It is also the largest settlement ever without a restatement or related actions by the Securities Exchange Commission or U.S. Department of Justice.
Lewis Cosby, et al. v. KPMG, LLP
Lewis Cosby et al. v. KPMG, LLP (E.D. Tenn.): As Co-Lead Counsel, Cohen Milstein settled for $35 million investors’ claims that KPMG perpetuated a massive fraud by signing off on Miller Energy’s $480 million valuation of Alaskan oil reserve assets that were largely worthless. The alleged fraud, plaintiffs claim, caused millions of dollars in investor damages and led to Miller Energy’s bankruptcy. In July 2022, the Court granted final approval of the settlement.
In re Pinterest Derivative Litigation
In re Pinterest Derivative Litigation (N.D. Cal.): Cohen Milstein represented the Employees Retirement System of Rhode Island and other Pinterest shareholders in a shareholder derivative lawsuit against certain Board members and executives. Shareholders alleged that Defendants personally engaged in and facilitated a systematic practice of illegal discrimination of employees on the basis of race and sex. On June 9, 2022, the Court granted final approval of a settlement including a $50 million funding commitment and holistic workplace and Board-level reforms.
L Brands, Inc. Derivative Litigation
L Brands, Inc. Derivative Litigation (S.D. Ohio): In partnership with the State of Oregon, the Oregon Public Employees Retirement Fund, and other shareholders, Cohen Milstein helped resolve allegations that officers and directors of L Brands, Inc., previous owners of Victoria’s Secret, breached their fiduciary duties by maintaining ties with alleged sex offender and pedophile Jeffrey Epstein and fostering a culture of discrimination and misogyny at the company. Following a Delaware General Corporate Law Section 220 books and records demand and an extensive, proprietary investigation, L Brands and the now-standalone company, Victoria’s Secret, agreed to stop enforcing non-disclosure agreements that prohibit the discussion of a sexual harassment claim’s underlying facts; stop using forced arbitration agreements; implement sweeping reforms to their codes of conduct, policies and procedures related to sexual misconduct and retaliation; and to invest $45 million each, for a total of $90 million, in diversity, equity and inclusion initiatives and DEI Advisory Councils. On May 16, 2022, the court granted final approval of the settlement.
Wynn Resorts, Ltd. Derivative Litigation
Wynn Resorts, Ltd. Derivative Litigation (Eighth Jud. Dist. Crt., Clark Cnty., Nev.): Cohen Milstein represented the New York State Common Retirement Fund and the New York City Pension Funds as Lead Counsel in a derivative shareholder lawsuit against certain officers and directors of Wynn Resorts, Ltd., arising out of their failure to hold Mr. Wynn, the former CEO and Chairman of the Board, accountable for his longstanding pattern of sexual abuse and harassment of company employees. In March 2020, the Court granted final approval of a $90 million settlement in the form of cash payments and landmark corporate governance reforms, placing it among the largest, most comprehensive derivative settlements in history.
Tradex Global Master Fund SPC Ltd. et al. v. Lancelot Investment Management, LLC, et al.
Tradex Global Master Fund SPC Ltd. et al. v. Lancelot Investment Management, LLC, et al. (Crc. Crt., Cook Cnty., Ill.): In August 2018, the Court granted final approval of a $27.5 million settlement, concluding a nearly decade-old putative investor class action against McGladrey & Pullen LLP, an accounting firm, for its alleged fraud and negligence arising out of the Tom Petters’ Ponzi scheme, one of the largest Ponzi schemes in U.S. history.
Amicus Briefs
Nvidia Corp., et al. v. E. Ohman J:or Fonder AB, et al.
Nvidia Corp., et al. v. E. Ohman J:or Fonder AB, et al. (U.S.): On October 2, 2024, Cohen Milstein’s Laura Posner and Carol V. Gilden; and counsel from Schnapper-Cateras PLLC, Levi & Korsinsky, LLP, and Wolf Haldenstein Adler Freeman & Herz LLP submitted a brief for amici curiae, distinguished scholars on economics, accounting, statistics, data science, and forensic analysis in support of the respondent before the Supreme Court.
Macquarie Infrastructure Corp., et al. v. Moab Partners, L.P., et al.
Macquarie Infrastructure Corp., et al. v. Moab Partners, L.P., et al. (U.S.): On December 20, 2023, Cohen Milstein filed an amicus curiae brief in support of respondents/plaintiffs with the United States Supreme Court on behalf of former commissioners and senior officials of the U.S. Securities and Exchange Commission who served under both Republican and Democratic presidents and went on to serve as leaders in industry and academia. Collectively, they have decades of experience in administering and enforcing the securities laws. Together, amici have a longstanding interest in the integrity of public markets and the deterrence of, and legal remedies for, materially misleading statements and omissions.
Slack Technologies, LLC., et al. v. Fiyyaz Pirani
Slack Technologies, LLC., et al. v. Fiyyaz Pirani (U.S.): On March 6, 2023, Cohen Milstein’s Laura Posner and Carol V. Gilden; Columbia Law School’s John C. Coffee, Jr. and Joshua Mitts; and Labaton Sucharow’s Ira A. Schochet submitted a brief for amici curiae, distinguished law and business professors in support of respondent, before the Supreme Court.
Goldman Sachs v. Arkansas Teacher Retirement System
On March 3, 2021, Cohen Milstein, on behalf of the North American Securities Administrators Association as Amici Curiae, submitted an amicus brief to the Supreme Court of the United States in support of respondents in Goldman Sachs Group, Inc., et al. v. Arkansas Teacher Retirement System, et al., No. 20-222. Read the amicus brief. Introduction […]
Liu v. Securities and Exchange Commission
On January 22, 2020, Cohen Milstein, on behalf of the North American Securities Administrators Association as Amicus Curiae, submitted an amicus brief to the Supreme Court of the United States in support of the respondent in Charles C. Liu and Xin Wang v. Securities and Exchange Commission, No. 18-1501. Introduction The North American Securities Administrators […]
Lorenzo v. Securities and Exchange Commission
On October 12, 2018, Cohen Milstein, on behalf of the North American Securities Administrators Association as Amicus Curiae, submitted an amicus brief to the Supreme Court of the United States in support of the respondent in Francis V. Lorenzo v. Securities and Exchange Commission, No. 17-1077. Introduction The North American Securities Administrators Association, Inc. (“NASAA”) […]
- New York Law Journal – Attorney of the Year (2024)
- Chambers USA Litigation: Securities: Plaintiffs – New York (2024)
- Law360 MVP – Securities (2023)
- Law360 Legal Lion of the Week (2023)
- American Lawyer Litigator of the Week (2023)
- Lawdragon 500 Leading Lawyers in America (2024)
- Lawdragon 500 Leading Plaintiff Financial Lawyers (Since 2019)
- Crain’s New York Business Notable Women in Law (2022)
- The National Law Journal Elite Women of the Plaintiffs Bar (2021)
- Benchmark Litigation, Future Star (Since 2019)
- Benchmark Litigation, 40 & 40 & Under Hot List (2019)
- Super Lawyers (2020 – 2023)
- Super Lawyers, Rising Star (2013, 2019)
- North American Securities Administrators Association Outstanding Service Award
December 19, 2024
Justices Rightly Corrected Course in Nvidia and Facebook
In the past two weeks, the U.S. Supreme Court dismissed as "improvidently granted" — an order colloquially called a DIG — two securities class actions, Nvidia Corp. v. Investors, and Facebook Inc. v. Amalgamated Bank. DIGs are rare and are issued only when the Supreme Court realizes it shouldn't have taken a case at the outset.
Articles | Law360
November 13, 2024
Deloitte Stuck With Investor Class Over Nuke Plant Audit Reports
Deloitte & Touche LLP failed to convince a federal court to deny certification of a class of investors suing over its audit reports on the ultimately abandoned $9 billion Scana Corp. nuclear reactor project.
In the News | Bloomberg Law
November 12, 2024
Deloitte Must Face Certified Class Over Nuclear Audit Reports
A South Carolina federal judge on Tuesday certified a class of SCANA Corp. investors accusing Deloitte of issuing audit reports that misled them about the progress the utility company was making on a $9 billion nuclear energy expansion project that failed.
In the News | Law360
October 8, 2024
Laura Posner to Speak on WSL Network Plaintiffs’ Lawyer Panel
Laura Posner, a partner in our Securities Litigation & Investor Protection practice, will participate as a panelist in the Women in Securities Litigation Network Plaintiffs’ Lawyer Panel program on October 8, 2024 at 5:30 p.m. at Paul Hastings LLP’s New York City office. The panel discussion will feature three prominent female securities plaintiffs’ lawyers, who […]
Events | Women in Securities Litigation
September 5, 2024
Meet Attorney of the Year Laura Posner of Cohen Milstein Sellers & Toll
A partner at Cohen Milstein, Posner has recovered billions on behalf of defrauded investors. Her cases include six of the top 100 securities fraud class action settlements of all time. A courtroom sketch from In re Walt Disney Co. Derivative Litigation hangs on the wall in Laura Posner’s office in lower Manhattan. The work, drawn […]
In the News | New York Law Journal
July 31, 2024
Supreme Court to Weigh Cases that May Increase Hurdles for Securities Fraud Plaintiffs
Last month, the U.S. Supreme Court agreed to consider two cases from the Ninth Circuit Court of Appeals that will implicate the ability of investors to bring securities fraud claims. The most worrisome—NVIDIA Corp. v. E. Ohman J:or Fonder AB, No. 23-970—will address a fundamental question about the pleading standards for securities fraud cases under […]
Articles | Shareholder Advocate Summer 2024
July 31, 2024
Summer 2024 Shareholder Advocate Released
The Summer 2024 issue of the Shareholder Advocate, our quarterly securities litigation and investor protection newsletter, features: Download the issue (PDF).
In the News | Cohen Milstein
April 15, 2024
Justices Leave Lower Courts To Parse Corporate ‘Half-Truths’
A recent U.S. Supreme Court ruling that corporate silence isn’t enough to form the basis of a securities fraud suit pointedly declined to wade into the question of what counts as a “half-truth,” leaving it to lower courts to wrestle with which corporate statements are blurry enough to sustain a shareholder class action. The high […]
In the News | Law360
April 12, 2024
High Court Sides With Business on SEC Liability Requirement
The US Supreme Court agreed that a “pure omission” in an SEC filing can’t give rise to a securities class action without some statement shareholders can point to that’s misleading. The court’s narrow ruling Friday by Justice Sonia Sotomayor for a unanimous court agreed that some statement was required, but it didn’t go further to […]
In the News | Bloomberg Law
April 19, 2024
Laura Posner to Speak at Securities Litigation in the 2020s Conference
Laura Posner, a partner in our Securities Litigation & Investor Protection practice, will participate in a panel discussion on “Emerging Issues in Rule 10b-5 Litigation” as part on Columbia Law School’s The Program in the Law and Economics of Capital Markets, Securities Litigation in the 2020s conference The conference includes an examination of recent developments […]
Events | Columbia Law School
April 2, 2024
Laura Posner to Lecture on Market Manipulation
Laura Posner, a partner in our Securities Litigation & Investor Protection practice, has been invited to guest teach a research seminar on Market Manipulation at Columbia Law School on April 2, 2024. This seminar is a “deep dive” into market manipulation, with an emphasis on the securities markets and extensions to the commodities and futures […]
Events | Columbia Law School
March 6, 2024
Laura H. Posner to Discuss PCAOB’s Proposal to Amend its Auditing Standards
The Public Company Accounting Oversight Board (PCAOB) has invited Laura H. Posner, a partner in our Securities Litigation & Investor Protection practice, to speak at a virtual roundtable regarding a proposal to amend PCAOB auditing standards related to the auditor’s responsibility for considering a company’s noncompliance with laws and regulations (NOCLAR) on March 6, 2024, […]
Events | Public Company Accounting Oversight Board
February 15, 2024
Largest Securities-Related Class Action Settlements of 2023
2023 delivered a banner year for investor recoveries, as the $7.9 billion in settlement funds across the globe was the highest total in the last five years. The $5.8 billion specifically secured in securities-related class actions in the U.S. was also up 18% from 2022. In this ISS Insights post, ISS Securities Class Action Services, […]
In the News | ISS Securities Class Action Services
January 30, 2024
Supreme Court Set to Resolve Whether Item 303 Liability Applies to Material Omissions
Fraud by omission versus commission. Should a corporation be able to do one but not the other in its mandatory discussion of known trends without risking liability under Section 10(b) of the Securities Exchange Act? This is a question the Supreme Court has been itching to answer.
Articles | Shareholder Advocate Winter 2024
January 30, 2024
Protecting Market Participants from Manipulative Trading
Cohen Milstein has developed a series of innovative cases to hold trading firms and individuals accountable when they engage in manipulative securities transactions.
Articles | Shareholder Advocate Winter 2024
January 30, 2024
Shareholder Advocate Winter 2024 Issue Released
Read the Winter 2024 edition of the Shareholder Advocate, our securities litigation and investor protection newsletter.
In the News | Cohen Milstein
January 18, 2024
Companies That Withhold Bad News Face New Rules Penned by SCOTUS
Companies, attorneys, and courts are expected to receive useful guidance on liability for failing to disclose troublesome trends from even a limited ruling by the US Supreme Court after oral argument on the theme this week, attorneys said.
In the News | Bloomberg Law
December 8, 2023
Laura Posner to Speak on Crypto Assets, Securities Enforcement & Litigation
Laura Posner has been invited to speak at Columbia Law School’s 2023 Conference on M&A and Corporate Governance on December 8, 2023 at Alfred Lerner Hall. The event brings together academics, a federal judge, an economist, and prominent M&A and corporate governance practitioners. This year’s panelists are scheduled to include U.S. Senior District Judge Jed […]
Events | Columbia Law School 2023 Conference on M&A and Corporate Governance
November 9, 2023
Laura Posner Opens ILEP-Penn Carey Law Journal of Business Law Symposium
Laura H. Posner, a partner in our Securities Litigation & Investor Protection practice, is the incoming president of the Institute for Law and Economic Policy (ILEP), a public policy research and educational foundation whose mission is to preserve, study, and enhance investor and consumer access to the civil justice system. In this role, she will […]
Events | University of Pennsylvania Carey Law School
October 23, 2023
Laura Posner Speaks on the Role of Public Funds in Securing Our Markets
Laura H. Posner, a partner in our Securities Litigation & Investor Protection practice is invited to speak at National Conference on Public Employee Retirement Systems (NCPERS) 2023 Fall Conference on October 22 – 25 at the Paris Las Vegas Hotel, Las Vegas, NV. Ms. Posner’s program, Securing Our Markets: The Essential Role of Public Funds, […]
Events | NCPERS 2023 Fall Conference
November 9, 2023
Laura H. Posner Appointed ILEP President
FOR IMMEDIATE RELEASE Press Contact: cohenmilstein@berlinrosen.com Cohen Milstein’s Laura H. Posner Appointed ILEP President A leading securities litigator and the former top securities regulator for New Jersey, Posner brings rare perspective on investor rights to think tank WASHINGTON, D.C. –Laura H. Posner, a partner in Cohen Milstein’s Securities Litigation & Investor Protection and Ethics & Fiduciary […]
Press Releases | Cohen Milstein
July 26, 2023
UBS Accused of Spoofing Stock of Trump-Linked Software Company
A unit of UBS Group AG was accused in a New York lawsuit of using deceptive spoof orders to manipulate the shares of a software company that worked on Donald Trump’s 2020 reelection campaign. Phunware Inc., based in Austin, Texas, sued UBS Securities LLC Tuesday in federal court in Manhattan, alleging it “deliberately engaged in […]
In the News | Bloomberg
July 25, 2023
Phunware Files Lawsuit Against UBS Securities for Market Manipulation
FOR IMMEDIATE RELEASE: July 25, 2023 Contact: cohenmilstein@berlinrosen.com PHUNWARE FILES LAWSUIT AGAINST UBS SECURITIES FOR MARKET MANIPULATION NEW YORK, NY – Today, Phunware, Inc. (NASDAQ: PHUN) filed a lawsuit against UBS Securities, LLC, one of the largest and most influential broker-dealers in the world, alleging repeated manipulation of the company’s stock over a two-year period. Phunware is a […]
Press Releases | Cohen Milstein
August 7, 2023
Deloitte Must Face Investor Suit Over Failed Nuclear Project
Deloitte can’t escape a lawsuit accusing it of failing to warn investors in a South Carolina utility company about the faltering state of a $9 billion nuclear energy project, with a federal judge on Monday declining to dismiss the lawsuit over arguments that the lead plaintiff’s board of trustees didn’t sign off on the suit. […]
In the News | Law360
June 26, 2023
Strong Opinions Rise Over Definition Change
Expanding accredited investors seen by some as lift for private markets, by others as dangerous House lawmakers have passed several bills on a bipartisan basis in recent weeks aimed at broadening the pool of accredited investors eligible to participate in private markets, but not everyone agrees that it’s a good idea. Proponents say that sophisticated […]
In the News | Pension & Investments
June 19, 2023
Cohen Milstein Sellers & Toll PLLC and Bernstein Litowitz Berger & Grossmann LLP Announce Pendency of Class Action and Settlement Involving Purchasers of Wells Fargo & Company Common Stock
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK IN RE WELLS FARGO & COMPANY SECURITIES LITIGATION Case No. 1:20-cv-04494-GHW-SN SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR ATTORNEYS’ FEES AND LITIGATION EXPENSES TO: All persons or entities who purchased or otherwise acquired the […]
In the News
June 7, 2023
Laura Posner Is Leading the Way in Investor Protection
Having just helped settle the historic $1B class action against Wells Fargo for alleged securities fraud, Laura Posner, a partner in our Securities Litigation and Investor Protection practice, is engaged in a high-profile spoofing lawsuit against Citadel, one of the world’s largest market makers. She recently talked to the editors at Lawdragon about her path to becoming a […]
In the News | Lawdragon
May 19, 2023
This Week’s Litigator of the Week Runners-Up and Shout Outs: Wells Fargo
Plaintiffs lawyers at Bernstein Litowitz Berger & Grossmann and Cohen Milstein Sellers & Toll reached a $1 billion settlement with Wells Fargo & Co. in what’s poised to be one of the 20 largest shareholder settlements of all-time if approved. First up are lawyers at Bernstein Litowitz Berger & Grossmann and Cohen Milstein Sellers & […]
In the News | The AmLaw Litigation Daily
May 16, 2023
Wells Fargo Agrees to $1 Billion Shareholder Settlement
Several pension funds had accused the bank of misleading investors about the extent of its reform efforts after the 2016 fake-accounts scandal Wells Fargo has agreed to pay $1 billion to settle a class-action lawsuit brought on by shareholders who had accused the lender of overstating the progress of reforms initiated after the 2016 fake-accounts […]
In the News | The Washington Post
May 16, 2023
Wells Fargo to Pay $1 Billion to Settle Lawsuit by Shareholders
A group of shareholders had claimed that the bank misled investors about its progress in cleaning up after a sham accounts scandal a decade ago. Wells Fargo has agreed to pay $1 billion to settle a class-action lawsuit accusing the bank of overstating how much progress it had made in fixing the unlawful practices that […]
In the News | The New York Times
May 15, 2023
Cohen Milstein Secures a Historic $1 Billion Settlement for Shareholders in Wells Fargo Securities Class Action
For Immediate Release Press Contact: Tess Roy tess.roy@berlinrosen.com Investors Successfully Negotiate Settlement in Case Against Wells Fargo Alleging the Bank Misled Investors About Its Compliance with Federal Consent Orders and Likelihood Its Asset Cap Would be Lifted and Look Forward to the Court’s Consideration of the Settlement NEW YORK, NY – Today, Co-Lead Plaintiffs and […]
Press Releases
May 15, 2023
Wells Fargo Agrees to Pay Shareholders $1 Billion to Settle Class-Action Suit
Shareholders claimed the bank and its past leadership were moving slower to address regulatory issues than they acknowledged publicly Wells Fargo agreed to pay shareholders $1 billion to settle a class-action lawsuit that accused the bank of overstating its progress in cleaning up after its 2016 fake-accounts scandal. The bank’s shareholders alleged Wells Fargo and […]
In the News | The Wall Street Journal
April 12, 2023
EY Decision to Call Off Auditing Split Leaves Investors Stranded
With EY declining to break up its consulting and auditing practice, investors are left to navigate a field of potential landmines in the enormous roster of clients that the Big Four boasts, in an industry that’s perceived as increasingly untrustworthy, says Cohen Milstein’s Laura H. Posner. Alarm bells are ringing for investor protection advocates following […]
Articles | Bloomberg Tax
March 17, 2023
Credit Suisse Must Face One Investor Class In XIV Crash Suit
A New York federal judge certified one of three proposed investor classes in a suit alleging Credit Suisse tricked investors into buying a series of short-term notes inversely tied to stock market volatility in 2018, finding two of the proposed classes can’t be certified because they conflict with one another. U.S. District Judge Analisa Torres […]
In the News | Law360
March 14, 2023
KPMG Under Pressure After Clean Audits of SVB, Signature Bank
Signature Bank, Silicon Valley audited by KPMG Auditors responsible for raising red flags about viability Silicon Valley Bank and Signature Bank collapsed days apart within two weeks of their auditor KPMG LLP signing off on their books. The Big Four audit firm’s responsibility included assessing the odds of whether the banks could survive the next […]
In the News | Bloomberg Tax
February 22, 2023
Leslie Kroeger and Laura Posner Invited to Speak at Epiq’s Mass and Class Summit 2023
Leslie Kroeger will speak on the panel “Hot Topics in Class Actions” and Laura Posner will speak on the panel “Securities Class Actions” on March 1 during the Epiq Mass and Class Summit 2023 in Ft. Lauderdale, FL. The three-day summit includes court appointed neutrals, judges and some of the best plaintiff and defense attorneys who […]
Events
December 1, 2022
US Cancer Drug Company Accuses Market Makers of Stock Spoofing
Northwest Biotherapeutics claims Citadel Securities, Virtu and others drove down its share price A cancer-focused biotechnology company has sued eight of the US’s largest market making traders including Citadel Securities, Susquehanna and Virtu, alleging that they deliberately drove down its share price by placing sell orders they had no intention of executing. The complaint, filed […]
In the News | Financial Times
December 1, 2022
Northwest Biotherapeutics Files Lawsuit Against Major Market Makers for Market Manipulation
FOR IMMEDIATE RELEASE Press Contact: Tess Roy, cohenmilstein@berlinrosen.com, 561-596-6443 Trading data shows that seven preeminent market makers engaged in market manipulation via spoofing to drive down Northwest Biotherapeutics’ stock prices as the company worked to raise funds to bring breakthrough cancer treatments to market NEW YORK, NY – Today, Northwest Biotherapeutics (OTCQB: NWBO) filed a lawsuit […]
Press Releases
December 1, 2022
Biotech Company Says Citadel, Other Big Traders Manipulated Its Stock Price
In a new lawsuit, Northwest Biotherapeutics accuses market makers of illicit ‘spoofing’ trades A biotechnology company accused Citadel Securities LLC, Susquehanna International Group LLP and other Wall Street firms of driving down its stock price through a series of illicit trades. In a lawsuit filed Thursday in Manhattan federal court, Northwest Biotherapeutics Inc. alleged the […]
In the News | The Wall Street Journal
October 5, 2022
Wells Fargo Shareholders Move for Class Certification in Consent Order Compliance Lawsuit
The lead plaintiffs in securities litigation involving Wells Fargo & Company filed a motion for class certification on Monday in the Southern District of New York. Specifically, the motion seeks class certification, appointment of the lead plaintiffs as class representatives, and appointment of Bernstein Litowitz and Cohen Milstein as class counsel. The suit alleges that the defendants’ […]
In the News | Law|Street
September 30, 2022
EY’s Auditing and Consulting Split Is an Investor Protection Win
Ernst & Young’s move to split up its auditing and consulting businesses will help the firm more easily avoid conflicts of interests—and the inevitable problems they lead to—says Cohen Milstein Sellers & Toll’s Laura H. Posner. Earlier this month, Ernst & Young LLP announced an industry-first split of their auditing and consulting functions, dubbed “Project […]
Articles | Bloomberg Tax
August 11, 2022
Hold Auditors Accountable for Complicity in Corporate Fraud – Expert Commentary
The health of the US financial markets and investors is dependent on auditors fulfilling their critical gatekeeping function. While the Sarbanes-Oxley Act led to great improvement in financial reporting, it didn’t go far enough to ensure auditor independence, says Laura H. Posner, a partner in Cohen Milstein’s Securities Litigation & Investor Protection and Ethics and […]
Articles | Bloomberg Tax
July 28, 2022
PCAOB Plans Tougher Audit Regulation on 20th Anniversary of SOX
Public Company Accounting Oversight Board chair Erica Williams said Thursday the PCAOB is working on updated auditing standards and stricter enforcement and audit firm inspections, a day after Securities and Exchange Commission chair Gary Gensler urged the PCAOB to act faster on new standards. . . . Sarbanes-Oxley legacy Williams also discussed the impact of […]
In the News | Accounting Today
July 14, 2022
KPMG’s $35 Million Deal to End Miller Energy Suit Gets Final Nod
Class action closed, except for attorneys’ fee allocation Class co-lead counsel ordered to mediation KPMG LLP’s $35 million settlement to resolve a 2016 securities lawsuit claiming its audit failures allowed Miller Energy Resources to misrepresent the value of key Alaskan oil and gas assets won a federal court’s final approval.
In the News | Bloomberg Law
February 9, 2022
Laura H. Posner to Speak at the 10th Annual Securities Litigation & Enforcement Institute
On Wednesday, February 9, 2022, Laura H. Posner, a member of the firm’s Securities Litigation & Investor Protection and Ethics & Fiduciary Counseling practice groups, will take part in the New York City Bar’s 10th Annual Securities Litigation & Enforcement Institute. The full-day program will provide a comprehensive overview of recent trends, developments and cutting-edge issues in securities litigation, regulation and […]
Events | New York City Bar Association
January 28, 2022
Laura H. Posner to Moderate Panel on Mechanisms for Corporate Accountability
On Friday, January 28, 2022, Laura H. Posner will moderate a panel discussion titled “Increasing Diversity & Constituency Representation Within the Corporate Boardroom & Executive Ranks” at the Institute for Law and Economic Policy’s 28th Annual Symposium, “Mechanisms for Corporate Accountability.” Panel participants will include: Presenters: Professor Joel Seligman – Washington University School of Law Professor Karin S. […]
Events | Institute for Law and Economic Policy 28th Annual Symposium
January 3, 2022
Securities Litigation to Watch in 2022
Some of the financial sector’s hottest trends and flashpoints in 2021 lie at the center of lawsuits that securities attorneys will have their eyes on in the coming year, from a challenge to the legality of the largest-ever special purpose acquisition company to multidistrict litigation against the controversial Silicon Valley titan of online trading. The […]
In the News | Law360
December 3, 2021
Notice: Cohen Milstein Files Class Action Complaint Against Bristol-Myers Squibb Company
FOR IMMEDITE RELEASE: NEW YORK, NY / ACCESSWIRE / December 3, 2021 – Cohen Milstein Sellers & Toll PLLC (“Cohen Milstein”) today announced that its ongoing investigation has led to the filing of a class action complaint against Bristol-Myers Squibb Company (“Bristol Myers”) and several of its senior executives and directors. The case was filed […]
Press Releases
November 27, 2021
Pinterest to Undergo Corporate Diversity Reform to Settle Suit Led by RI General Treasurer
Social media platform Pinterest agreed to a series of diversity, equity and inclusion workplace reforms to settle a lawsuit by shareholders lead by the Rhode Island pension system, General Treasurer Seth Magaziner announced. The reforms are valued at $50 million and resolve shareholder complaints that Pinterest’s Board of Directors failed to respond to allegations of […]
In the News | The Providence Journal
November 24, 2021
Pinterest Agrees to Spend $50 Million on Reforms to Resolve Discrimination Allegations
Pinterest pledged $50 million to overhaul its corporate culture and promote diversity as part of an agreement to resolve allegations that it discriminated against women and people of color, according to court documents and statements from the plaintiffs and the company. The settlement was announced on Wednesday by Seth Magaziner, the general treasurer of Rhode […]
In the News | The New York Times
November 24, 2021
Pinterest Settles Lawsuit That Alleged Racial and Gender Discrimination – The Company Will Release Former Employees From NDAs
Pinterest has settled a lawsuit brought against it by shareholders who claimed that the company’s workplace discrimination against women and racial minorities hurt its reputation, according to NBC News. The company reportedly agreed to spend $50 million on improving its diversity and equity, and will let former employees talk about racial or gender discrimination they […]
In the News | The Verge
October 29, 2021
When Bullish Finance Stories Are Not Exactly What They Appear
June 22 was a great day for Alfi, Inc, a tech company in Miami Beach, Florida, which sells facial recognition advertising software. After going public in early May at $3.75 per share and dipping to a low of $2.41, the stock had risen above $16. On June 21, an article published on Yahoo! reported that […]
In the News | Columbia Journalism Review
October 18, 2021
Stiffed Investors Win Arbitration Cases, but Never See a Dime. Do Regulators Have a Fix?
In 2019, investors won $96 million in arbitration awards against firms and advisors that they accused of misconduct. But some of those investors never saw a dime. Almost a third of the arbitration awards, totaling $19 million, went unpaid, according to data from industry self-regulator Finra. That dismal statistic underscores a pernicious problem in the […]
In the News | Barron’s
September 20, 2021
Laura H. Posner to Speak at North American Securities Administrators Association 2021 Annual Meeting
Laura H. Posner, a member of the firm’s Securities Litigation & Investor Protection and Ethics & Fiduciary Counseling practice groups, will speak on a panel at the North American Securities Administrators Association (NASAA) Annual Meeting on Monday, September 20, 2021. Ms. Posner will take part in the panel “Words Matter – Holding Companies, Professionals, and […]
Events
September 15, 2021
Board Diversity Is Critical to Protect Shareholders, Bottom Line
There’s growing recognition of the need to increase gender diversity in corporate America, but progress has been frustratingly slow, says Laura Posner, partner with Cohen Milstein. But, she adds, an unlikely group of players—institutional investors—is finally having some success in forcing corporations to change. Women, and Black and Latina women in particular, remain hugely underrepresented […]
Articles | Bloomberg Law
August 2, 2021
Oregon: Settlement with Victoria’s Secret Owner Ends Fear
Oregon officials believe a $90 million settlement it has reached with the parent company of Victoria’s Secret guarantees an end to its “culture of harassment and fear.” Under the settlement, Victoria’s Secret and Bath & Body Works, owned by L Brands Inc., each committed to invest $45 million over at least five years to protect […]
In the News | Associated Press
July 30, 2021
L Brands to Pay $90 Million to End Shareholder #MeToo Suits
WHAT TO KNOW: Parent company L Brand agrees to corporate reforms Lawsuit alleged culture of harassment and misogyny L Brands Inc., the parent company of Victoria’s Secret, agreed to spend $90 million on changes to corporate practices, including eliminating non-disclosure agreements, as part of a settlement to end shareholder lawsuits that alleged a toxic culture […]
In the News | Bloomberg Law
July 30, 2021
L Brands Agrees to New Policies Tied to Sexual Harassment Claims
The owner of Victoria’s Secret will release current and former employees from certain nondisclosure agreements as part of a settlement of a shareholder lawsuit. L Brands, the owner of Victoria’s Secret and Bath & Body Works, will release current and former employees from nondisclosure agreements tied to sexual harassment claims and take steps to promote […]
In the News | The New York Times
July 23, 2021
It’s Time to Rescind the Get Out of Jail Free Card Afforded Executives by 10b5-1 Plans
The law should be modified to require that it be public whether a 10b5-1 plan exists and include the date it was entered into; all 10b5-1 plans be approved by a company’s compensation committee; and most critically, the owner of the plan must be blind to the dates and/or strike prices for purchases and sales […]
Articles | New York Law Journal
July 15, 2021
All’s Quiet on the Reg BI Front
The SEC has been intense about ESG and wait-and-see on Reg BI. But new Enforcement Director Gurbir Grewal supported New Jersey’s fiduciary rule and may put teeth in the broker advice standard. If you’re into sustainable investing, you must be thrilled with the Securities and Exchange Commission. In his first three months in office, SEC […]
In the News | Investment News
June 22, 2021
Goldman Ruling Unlikely to Move Needle on Class Actions
The U.S. Supreme Court’s decision on Monday to vacate certification for a class of Goldman Sachs investors is a temporary win for the bank, but may do little to prevent future securities claims from achieving class status, experts told Law360. The majority opinion, penned by Justice Amy Coney Barrett, remanded the decade-old case to the […]
In the News | Law360
June 21, 2021
Supreme Court Sends Goldman Shareholder Suit Back to Lower Court
A proposed class-action lawsuit led by the $20.7 billion Arkansas Teacher Retirement System, Little Rock, against Goldman Sachs Group hit a roadblock Monday when the U.S. Supreme Court ordered the 2nd U.S. Circuit Court of Appeals in New York to reconsider allowing shareholders to pursue a class action over alleged misrepresentations made during the subprime […]
In the News | Pensions & Investments
April 28, 2021
Market Manipulation Case Reopening Adds to Credit Suisse’s Woes
Although appellate court judges threw out some claims against the bank, they said that market manipulation allegations were “plausible.” Credit Suisse is having another rough week. A U.S. Appeals Court reopened a 2018 case alleging that Credit Suisse had engaged in market manipulation of some exchange-traded notes that short the VIX, a popular proxy for […]
In the News | Institutional Investor
April 27, 2021
Credit Suisse Faces Revived Claims over Inverse VIX Crash
The Second Circuit ruled Tuesday that Credit Suisse will have to face claims that it triggered a liquidity crunch to bottom out the price of notes inversely tied to stock market volatility and pick up nearly half a billion dollars of profits. An appellate panel vacated a New York federal judge’s ruling from 2019 that […]
In the News | Law360
April 27, 2021
Major Investor Lawsuit Against Credit Suisse Reopened
For Immediate Release: Lawsuit focuses on materially false and misleading statements about Credit Suisse’s VelocityShares Inverse VIX Short Term Exchange Traded Notes NEW YORK – The United States Court of Appeals for the Second Circuit issued an order Tuesday that reopened a high-profile lawsuit alleging that Credit Suisse knowingly defrauded investors and caused hundreds of […]
Press Releases
April 27, 2021
Credit Suisse Must Face Lawsuit over U.S. ‘Volatility’ Crash
A U.S. appeals court on Tuesday revived a lawsuit accusing Credit Suisse Group AG of causing huge losses by defrauding investors in a complex product for betting on stock market swings that lost 96% of its value in a single day. The 2nd U.S. Circuit Court of Appeals in Manhattan said investors could try to […]
In the News | Reuters
February 26, 2021
Laura H. Posner to Speak at Annual Securities Litigation & Enforcement Institute
On Friday, February 26, 2021, Cohen Milstein partner Laura H. Posner, a member of the firm’s Securities Litigation & Investor Protection and Ethics & Fiduciary Counseling practice groups, will take part in the New York City Bar’s 9th Annual Securities Litigation & Enforcement Institute. The full-day CLE program, held this year as a webcast, brings […]
Events | New York City Bar
February 10, 2021
SEC Empowers More Staff to Launch Investigations
The change puts pressure on firms’ compliance operations, experts say. Facilitating the ability of SEC staff to issue subpoenas and take testimony is expected to make enforcement more agile and effective. A decision by the Securities and Exchange Commission to allow more of the agency’s staff to launch investigations will put more demands on financial […]
In the News | Investment News
January 29, 2021
SEC Must Reprioritize Investor Protection to Foster Recovery
With U.S. stock indexes at historic peaks, it may seem counterintuitive to add investor protection to the Biden administration’s list of priorities as it plans an economic recovery strategy from the COVID-19 recession. But as with virtually all areas of our economy, the pandemic has laid bare inequities in our financial markets and provided cover […]
Articles | Law360
January 4, 2021
Laura Posner Talks Investor Protection, Corporate Finance, Financial and Corporate Regulation in the Biden Administration
On January 4, 2021, Laura H. Posner, a partner in the Securities Litigation & Investor Protection and Ethics & Fiduciary Counseling practice groups, appeared on the Business Scholarship Podcast as part of its symposium on “Financial and Corporate Regulation in the Biden Administration.” Ms. Posner appeared on the symposium’s second episode, a panel discussion titled “Investor […]
Multimedia | Business Scholarship Podcast
December 3, 2020
Rhode Island ERS Sues Pinterest Over Culture of Discrimination
Rhode Island Employees’ Retirement System, Providence, is suing Pinterest Inc. executives and board members, claiming they fostered a culture of discrimination and retaliation that also hurt its financial success. The lawsuit filed Nov. 30 in U.S. District Court in San Francisco is supported by the $2 billion Ohio Laborers’ District Council and Contractors’ Pension Fund, […]
In the News | Pensions & Investments
December 2, 2020
Retirement System Sues Pinterest Board and Execs Over Discrimination
The Employees’ Retirement System of Rhode Island says they breached their fiduciary duty. The Employees’ Retirement System of Rhode Island is suing board members and top executives at Pinterest, alleging that they engaged in or ignored discrimination at the company. The $8.5 billion retirement system, which is a Pinterest shareholder, is suing them on behalf […]
In the News | Institutional Investor
December 1, 2020
Pinterest Shareholders Sue Over ‘Toxic’ Work Culture
Top executives ignored allegations of discrimination, complaint says. Pinterest shareholders are suing the company’s top executives, including CEO Ben Silbermann, for allegedly enabling a culture of discrimination. The toxic work environment has hurt the company’s reputation, leading to a user boycott and financial harm, the complaint alleges. The CEO “repeatedly placed himself before the Company, […]
In the News | The Verge
November 7, 2020
Biden Win Signals Tax, Regulatory Changes for Advisors
What does former Vice President Joe Biden’s win mean for advisors? Retooled advisor regulation, potentially higher taxes for wealthy Americans and new rules governing retirement plans, experts say. Certainly, addressing the coronavirus pandemic and economic turmoil will be top priorities for Biden. Beyond that his administration will likely pursue a more investor friendly regulatory approach, […]
In the News | Financial Planning
August 28, 2020
SEC Leaves Door Open for More Private Market Expansion
The U.S. Securities and Exchange Commission’s long-awaited changes to the definition of an accredited investor appear incremental, but they set the stage for further expansion of already rapidly growing private capital markets where investors have fewer protections. The SEC’s action Wednesday modestly expanded the category of accredited investors, which determines who is eligible to invest […]
In the News | Law360
July 22, 2020
Deloitte Wants Investor’s Nuclear Energy Project Suit Tossed
Deloitte told a South Carolina federal court that it shouldn’t have to face a thinly substantiated shareholder suit accusing the firm of issuing audit reports that misled investors about the progress SCANA Corp. was making on a nuclear energy expansion project that failed. Deloitte said that despite the length of the more than 200-page complaint, […]
In the News | Law360
June 23, 2020
Supreme Court Limits SEC’s Ability to Mete Out ‘Financial Ruin’ via Disgorgement
A Supreme Court decision this week upheld one of the Securities and Exchange Commission’s most powerful tools for clawing back money from fraudsters but set limits that provide some protections to financial advisers caught in the agency’s cross hairs. In an 8-1 ruling Monday, the high court held that the SEC can obtain so-called disgorgement […]
In the News | Investment News
June 22, 2020
SEC’s Punitive Authority Tested by Latest SCOTUS Ruling
Technically speaking, the high court ruled 8-1 to vacate and remand the case for further proceedings. However, in its ruling, the Supreme Court clarified that, as a general matter, in a Securities and Exchange Commission (SEC) enforcement action, a “disgorgement award that does not exceed a wrongdoer’s net profits and is awarded for victims is […]
In the News | PlanAdviser
June 22, 2020
Supreme Court Backs SEC Disgorgement Practices
The Supreme Court on Monday backed the Securities and Exchange Commission’s practice of seeking disgorgement of profits from companies involved in fraud and giving it to harmed investors. Writing the 8-1 majority opinion, Associate Justice Sonia Sotomayor said the practice is legally permissible equitable relief, as opposed to a punitive action, as long as the […]
In the News | Pensions & Investments
April 8, 2020
FINRA Rule Would Require Stronger Supervision of Rogue Brokers
The proposal allows hearing officers to impose additional supervision requirements for brokers involved in disciplinary matters A Finra proposal to increase supervision of brokers going through disciplinary proceedings is a step in the right direction to address problems related to rogue brokers, investor lawyers and advocates say. The Financial Industry Regulatory Authority Inc. filed on […]
In the News | Investment News
January 29, 2020
Laura H. Posner to Speak at the 8th Annual Securities Litigation & Enforcement Institute
On Wednesday, January 29, 2020, Cohen Milstein Partner Laura H. Posner, a member of the firm’s Securities Litigation & Investor Protection and Ethics & Fiduciary Counseling practice groups, will take part in the New York City Bar’s 8th Annual Securities Litigation & Enforcement Institute. The full-day CLE program brings together prominent experts to discuss current […]
Events
October 28, 2019
FINRA Settlement Expungement Process Is Broken, Former Regulator Says, PlanAdviser
FINRA is advancing a proposal to modernize the process by which brokers can clear their records of past customer disputes, but one former regulator questions whether the proposed approach fixes some fundamental issues of transparency and fairness for consumers. During its meeting in late September, FINRA’s Board of Governors approved proposed amendments to the “Codes […]
In the News
August 18, 2019
New York Is Newest Front in Battle over Fiduciary Rules for Broker-Dealers
A New York assemblyman is preparing legislation that will bring the ongoing battle over whether broker-dealers owe a fiduciary duty to their clients to the motherland of the financial services industry. Jeffrey Dinowitz, a Bronx Democrat, had hoped to introduce the legislation in Albany’s last session but is prepping it for next January, an aide […]
In the News | Regulatory Compliance Watch
May 1, 2019
Unlike SEC’s Approach, New Jersey Fiduciary Regs Have Teeth
The state’s former securities chief says recently issued fiduciary regulations have been crafted in the interest of aggressively tamping down on conflicts of interest in the financial services industry. From 2014 to 2017, Laura Posner was the top securities regulator in the state of New Jersey; she is now a partner at Cohen Milstein Sellers […]
In the News | PlanAdviser
October 18, 2018
Supreme Court Will Revisit ‘Scheme Liability’ in Lorenzo v. SEC
By Laura H. Posner and Eric S. Berelovich In June 2018, the Supreme Court agreed to hear Lorenzo v. SEC, a case in which the Securities and Exchange Commission (“SEC”) found Francis Lorenzo liable for emailing false and misleading statements to investors that were originally drafted by his boss. The SEC asserted claims under the […]
Articles | Shareholder Advocate Fall 2018
April 1, 2017
Interview with Cohen Milstein Partner Laura Posner
Shareholder Advocate – April 2017 With the addition of Laura Posner as a partner in our Securities Litigation & Investor Protection Practice Group, Cohen Milstein continues a tradition of bringing aboard attorneys with significant experience in government, in Laura’s case, as chief securities regulator for the State of New Jersey. The Shareholder Advocate sat down […]
In the News
March 7, 2017
North American Securities Administrators Association Calls on U.S. Supreme Court to Protect Investors from Fraud and Abuse
Arguing on Behalf of the North American Securities Administrators Association, Cohen Milstein Urges Supreme Court to Preserve Investor Protections in CalPERS v. ANZ Securities WASHINGTON – Urging the U.S. Supreme Court to preserve investors’ ability to exercise important securities fraud claims, the North American Securities Administrators Association, Inc. (“NASAA”), the non-profit association of state, provincial and […]
In the News
May 28, 2014
Report on the Possible Impact of Halliburton II on Securities Class Action Litigation
Laura H. Posner contributed to the “Report on the Possible Impact of Halliburton II on Securities Class Action Litigation,” a discussion of the likely impact of the Supreme Court’s decision in Halliburton Co. and David Lesar v. Erica P. John Fund prepared by the New York City Bar Association’s Securities Litigation Committee.
Articles | New York City Bar Association's Committee on Securities Litigation's Fraud-on-the-Market Subcommittee
April 1, 2008
‘Novel Issues’ or a Return to Core Principles? Analyzing the Common Link Between the Chancery Court’s Recent Rulings in Option Backdating and Transactional Cases
Co-Authored by Laura Posner née Gundersheim During the period from late 2006 through mid-2007, the Court of Chancery of the State of Delaware (the “Chancery Court” or “Court”) asserted its jurisdiction and authority over numerous cases in situations where, in the past, it may have deferred to other jurisdictions. The Court’s decisions on motions to stay […]
Articles | NYU Journal of Law & Business