Week Ahead in Securities: Aug. 30, 2021 – Reuters

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Here are some upcoming events of interest to the securities law community. Unless otherwise noted, all times are local.

Monday, Aug. 30

10:00 a.m. – Former Netflix employee Sung Mo Jun and his brother Joon Jun are expected to plead guilty before U.S. District Judge Paula McCandlis in Seattle to securities fraud for their roles in an insider trading ring that authorities allege netted $3 million.

The case is U.S. v. Jun et al., U.S. District Court, Western District of Washington, No. 21-00135.

For Mo Jun: Harold Malkin of Calfo Eakes.

For the government: Justin Arnold of the U.S. Attorney’s Office in Seattle.

1:30 p.m. – Title insurer First American Corporation will urge U.S. Judge Dale Fischer in Los Angeles to dismiss a shareholder class action alleging the company’s cybersecurity disclosures were revealed as misleading in 2019 when the company said a software flaw allowed unauthorized access to customer data.

The case is In Re First American Financial Corp. Financial Securities Litigation, U.S. District Court, Central District of California, No. 20-09781.

For the investors: Jennifer Pafiti of Pomerantz.

For the company: Craig Varnen of Gibson, Dunn & Crutcher.

Tuesday, Aug. 31

9:00 a.m. – Jury selection in the trial of Theranos founder Elizabeth Holmes’ is scheduled to begin before U.S. District Judge Edward Davila in San Jose, California. Holmes is accused of defrauding patients and investors by falsely claiming that her company had developed technology that could run a wide array of tests on a single drop of blood.

The case is United States v. Holmes, U.S. District Court, Northern District of California, No. 18-cr-00258.

For the government: Assistant U.S. Attorney Jeff Schenk.

For Holmes: Lance Wade and Kevin Downey of Williams & Connolly.

Wednesday, Sept. 1

1:00 p.m. – Former futures trader James Crombie will again urge the 9th U.S. Circuit Court of Appeals in Pasadena to lift a lifetime trading ban imposed by the U.S. Commodity Futures Trading Commission. The appeals court had previously ordered the trial judge that approved the sanction to explain why it was warranted.

The case is CFTC v. Crombie, 9th U.S. Circuit Court of Appeals, No. 19-16190.

For Crombie: Christopher Sarma of Kellogg, Hansen, Todd, Figel & Frederick.

For the CFTC: Martin White.

Thursday, Sept. 2

10:00 a.m. – Attorneys for investors in LendingClub Corp will urge the 9th U.S. Circuit Court of Appeals in Seattle to revive their proposed class action alleging the fintech company misled investors about a Federal Trade Commission investigation into its origination fees.

The case is Veal v. LendingClub Corp, 9th U.S. Circuit Court of Appeals, No. 20-16603.

For the investors: Patrick Dahlstrom of Pomerantz and Laurence Rosen of The Rosen Law Firm.

For the company: James Kramer and Alexander Talarides of Orrick, Herrington & Sutcliffe.

1:30 p.m. – Yelp Inc will argue that investors that sued the online review site don’t have evidence to show it hid problems retaining local advertising business in late 2016. The company will ask U.S. District Court Judge Edward Chen in San Francisco for summary judgment.

The case is Azar v. Yelp Inc et al., U.S. District Court, Northern District of California, No. 18-00400.

For Yelp: Aaron Miner of Arnold & Porter Kaye Scholer.

For the investors: Kevin Ruf of Glancy Prongay & Murray.

Know of an event that could be included in Week Ahead in Securities? Contact Jody Godoy at jody.godoy@thomsonreuters.com

Jody Godoy reports on banking and securities law. Reach her at jody.godoy@thomsonreuters.com

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