Skip to content

On Aug. 15, 2024, a federal court dismissed a proposed class action against financial analysis website Seeking Alpha, Inc. (Seeking Alpha). The lawsuit was brought in July 2023 by subscribers who accused Seeking Alpha of operating as an unregistered investment adviser and unlawfully collecting subscription fees by providing investing advice and customized email alerts on its website without having relevant state and federal registrations.

Continue reading the full GT Alert.

Tags: Financial Regulation and Compliance, FRAC, GT Insight, Securities Litigation
Print:
Email this postTweet this postLike this postShare this post on LinkedIn
Photo of Steven M. Malina Steven M. Malina

Steven M. Malina, a former Senior Attorney in the SEC’s enforcement branch, focuses his practice on a variety of litigation and regulatory matters with representations of financial services industry clients, hedge fund matters, and securities and general commercial litigation. He represents officers, directors,

…

Steven M. Malina, a former Senior Attorney in the SEC’s enforcement branch, focuses his practice on a variety of litigation and regulatory matters with representations of financial services industry clients, hedge fund matters, and securities and general commercial litigation. He represents officers, directors, broker-dealers, investment advisors, commercial banks, investment banks, investment management firms, and public issuers in investigations and disciplinary proceedings initiated by the SEC, CFTC, FINRA, FDIC, NYSE, CBOE, CME, and state regulators. In addition, Steve represents clients in related investor class-action, derivative, and other litigation and arbitration. He has also conducted internal investigations on behalf of publicly traded companies and represented committees and executive officers in internal investigations. Steve has represented brokerage firms and their management in customer-initiated cases, and injunction and arbitration proceedings.

Prior to entering private practice, Steve served as First Vice President and Deputy Regional Counsel for a large financial corporation and was a Senior Attorney in the Branch of Enforcement of the U.S. Securities and Exchange Commission.

Read more about Steven M. MalinaSteven's Linkedin Profile
Show more Show less
Photo of Richard M. Cutshall Richard M. Cutshall

Richard M. Cutshall is Co-Chair of the firm’s Investment Management Group. Rich has experience representing clients in a variety of investment management, corporate, and general securities matters, including the representation of mutual funds and other funds registered under the Investment Company Act of…

Richard M. Cutshall is Co-Chair of the firm’s Investment Management Group. Rich has experience representing clients in a variety of investment management, corporate, and general securities matters, including the representation of mutual funds and other funds registered under the Investment Company Act of 1940, fund independent directors, unregistered investment companies, federally registered and state registered investment advisers, broker-dealers, and an array of public and private companies. He represents clients in all aspects of investment company practice, including organizing and forming new funds, registering investment companies with the SEC, the acquisition and merger of funds, and advising clients on the day-to-day aspects of corporate governance, board and adviser fiduciary responsibility, and SEC compliance.

Read more about Richard M. Cutshall
Show more Show less
Photo of Arthur Don Arthur Don

Arthur Don is the Co-Chair of the Investment Management Group. He has more than 40 years of experience representing mutual funds, public investment companies, fund independent directors, investment advisers, private investment funds, private equity funds, real estate funds, broker-dealers and public companies in

…

Arthur Don is the Co-Chair of the Investment Management Group. He has more than 40 years of experience representing mutual funds, public investment companies, fund independent directors, investment advisers, private investment funds, private equity funds, real estate funds, broker-dealers and public companies in a variety of sophisticated securities transactions. His experience includes various aspects of investment company practice, from organizing new funds through acquisitions and mergers of funds. Arthur has represented issuers and underwriters in numerous public offerings. He also frequently advises independent directors on fiduciary duties, and advises clients on compliance policy issues.

Read more about Arthur Don
Show more Show less
Photo of Miriam (Mimi) G. Bahcall Miriam (Mimi) G. Bahcall

Miriam G. Bahcall focuses her practice on a variety of financial services industry litigation and regulatory matters, as well as general commercial litigation. She has represented underwriters, broker-dealers, insurance companies, directors and officers in class action and derivative litigation. In addition, Mimi has…

Miriam G. Bahcall focuses her practice on a variety of financial services industry litigation and regulatory matters, as well as general commercial litigation. She has represented underwriters, broker-dealers, insurance companies, directors and officers in class action and derivative litigation. In addition, Mimi has represented broker-dealers, investment banks, investment management firms, and public issuers and their management and employees in investigations and disciplinary proceedings initiated by the SEC, FINRA, CBOE and state regulators. She has also conducted internal investigations of publicly traded domestic and foreign companies whose operations are in the United States and China. Additionally, Mimi has represented brokerage firms and their management in various customer-initiated cases, and injunction and arbitration proceedings.

Read more about Miriam (Mimi) G. Bahcall
Show more Show less
Photo of Brian D. Straw Brian D. Straw

Brian D. Straw is an associate in the Litigation Practice of the firm’s Chicago office. His practice focuses on consumer class actions, commercial and business litigation, financial services and securities litigation. Within the consumer class action space Brian defends companies against false advertising…

Brian D. Straw is an associate in the Litigation Practice of the firm’s Chicago office. His practice focuses on consumer class actions, commercial and business litigation, financial services and securities litigation. Within the consumer class action space Brian defends companies against false advertising claims including challenges to nutrition, origin and utility labeling under the Lanham Act and other state consumer protection statutes. Brian also has a wealth of experience defending officers, directors, broker-dealers, investment advisors, and public issuers against related investor class-actions, FINRA and financial services litigation for clients.

In addition to the above Brian maintains an active sports law practice representing institutions, coaches, and student athletes on issues surrounding athletic eligibility, national letters of intent, student-athlete transfers, and compliance issues. Brian played an active role defending Floyd Mayweather and Mayweather Promotions LLC in a multidistrict litigation proceeding stemming from the Mayweather/Pacquiao boxing match.

Read more about Brian D. Straw
Show more Show less
Photo of Melissa Peach Melissa Peach

Melissa Peach, a member of Greenberg Traurig’s Corporate Practice in New York, concentrates her practice on fund formation and investment management. Melissa represents clients in matters involving the formation, structuring, management, and related legal issues for a wide range of domestic and international

…

Melissa Peach, a member of Greenberg Traurig’s Corporate Practice in New York, concentrates her practice on fund formation and investment management. Melissa represents clients in matters involving the formation, structuring, management, and related legal issues for a wide range of domestic and international investment funds. She also has experience representing clients in connection with investments in private funds and secondary transaction matters.

Read more about Melissa PeachMelissa's Linkedin Profile
Show more Show less
Related Posts
Shutterstock_2091191497
SEC Collects $390 Million in Latest Crackdown on ‘Off-Channel’ Communications in the Financial Industry
August 16, 2024
shutterstock_599600549
Reg BI Enforcement Intensifies: SEC Fines Western International Securities for Violating Care and Compliance Obligations
August 8, 2024
5th Fifth Circuit Court of Appeals Shutterstock_1070850158
U.S. Appeals Court Vacates SEC Private Fund Adviser Rule
June 6, 2024