News

KM partners Daniel Hume, Tom Elrod, and associate Lauren Wands have filed an amicus brief in the United States Court of Appeals for the Eighth Circuit in support of the SEC's recently introduced climate disclosure regulations.

NEW YORK - Partner David Kovel commented to the Wall Street Journal in support of a new pilot whistleblower program launched on August 6 by the U.S. Department of Justice.  The program is intended to bridge gaps left between similar, existing incentive programs overseen by other agencies.  

Kirby McInerney LLP, alongside Co-Lead Counsel Scott+Scott LLP and Cafferty Clobes Meriwether & Sprengel LLP, reached a $35 million settlement with Apple Inc. The settlement provides refunds to consumers who were tricked by third-party scammers into buying Apple iTunes and AppStore gift cards and providing the codes to the scammers under false pretenses.

U.S. District Judge Denise Casper has held that digital trading cards sold by fantasy sports company DraftKings are securities under the U.S. Supreme Court’s Howey test, denying the company's motion to dismiss a class action lawsuit led by KM Partner Tony Fata.  The lawsuit alleges that, during the class period, DraftKings sold unregistered securities and ensured that money stayed on DraftKings’ private and exclusively controlled marketplace, propping up the market for an overall valuation of DraftKings’ NFTs and significantly harming investors.  

KM Partner Randall Fox was quoted today by Tax Notes in an article discussing the District of Columbia’s settlement of its first tax whistleblower lawsuit.  The suit has resulted in a $40 million settlement with tech billionaire Michael Saylor and his company MicroStrategy Inc.  The lawsuit alleges that Saylor failed to pay $25 million in resident income taxes to the District over the course of several years by making false claims that he did not live in the District.

Co-Managing Partner David Kovel and Associate Lauren Wands have published an article entitled “CFTC Whistleblowers: Legal Perils and Pitfalls” in the May 2024 issue of the Futures and Derivatives Law Report, a newsletter which analyzes legal developments in over-the-counter derivatives, futures, and option trading, and includes information on regulation, legislation, and litigation.