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.
News
Stay up to date on the latest legal developments and trends. Here you will find firm news, published articles, and press releases on a variety of topics and practice areas.
- 10/24/23 | Firm News
-
Kirby McInerney announces CFTC settlement of whistleblower claims related to Ceres Global’s attempted manipulation of oats futures contractsOctober 24, 2023 NEW YORK - The law firm of Kirby McInerney LLP is proud to announce that it represented a whistleblower who provided support to the Commodity Futures Trading Commission (the “CFTC”). In connection with that matter, the CFTC obtained a $3 million settlement.
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.
The National Law Journal has named Partner Anthony Maneiro a Rising Star of the Plaintiffs’ Bar as part of its Elite Trial Lawyers awards for 2024.
David Kovel was quoted today in a Wall Street Journal article discussing the increasing popularity and success of whistleblower programs both in the United States and internationally. “There seems to be a growing recognition that these programs work, if whistleblowers are paid,” he noted.
On May 9th, 2024, Partner Randall Fox spoke at the first annual Central New York False Claims Act Symposium. Mr. Fox spoke on a panel entitled Finding Clients, Preparing Cases, and Adding Value: The Role of the Relator’s Counsel in FCA Cases, and was joined by co-panelists Erica Hitchings, Esq., of Whistleblower Law Collaborative, LLC and Andrew Miller, Esq., of Baron & Budd, P.C.
Subscribe