United States: Securities

Recent securities class actions against Dow Inc. and Tronox Holdings plc underscore the growing litigation risk associated with tariff‑related and broader economic disclosures in periodic reports, earnings calls, and investor communications.

The Ninth Circuit recently reversed in part dismissal in a putative securities fraud class action alleging that a toy manufacturer and two of its officers misrepresented the status of its inventory management, distribution capabilities, and IT system use.

On April 16, 2026, the staff of the Division of Corporation Finance (the “Staff”) of the U.S. Securities and Exchange Commission (“SEC”) issued an exemptive order granting relief from Rules 13e-4(f)(1)(i) and 14e-1(a) and (b) under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), for certain qualifying tender offers for equity securities (“10 Business Day Tender Offers”).

Foley partner Susan Pravda shares how a relationship-driven approach has shaped her four-decade legal career, from a chance encounter on her first day of practice to her current role leading the firm's Health Care & Life Sciences Sector. She discusses the importance of viewing clients as people rather than entities, being present during pivotal moments, and trusting your instincts when navigating uncertainty.

The U.S. Bank acquisition continued where 2025 left off with 33 transactions announced in Q1 totaling $15.7 billion in total deal value.

The International Organization of Securities Commissions has issued two significant final reports addressing pre-hedging practices and financial asset tokenization, both carrying major implications for US and global derivatives regulation. These principles-based guidance documents may reshape how the Commodity Futures Trading Commission approaches market-conduct standards while balancing technological innovation. The reports explore frameworks for managing conduct risks in pre-hedging activities and assess

The SEC’s Division of Trading & Markets today issued a conditional no-action position that it would not object if compliant “user interfaces” designed to facilitate the execution...

Private markets and closed-end interval funds have seen significant expansion, with the SEC's Investor Advisory Committee endorsing registered interval funds as an optimal vehicle for retail investors seeking private market exposure.

On April 10, 2026, and consistent with its previous approval of similar proposals by other national exchanges (24X and NYSE Arca), the SEC approved the Nasdaq Stock Market (Nasdaq) proposal to extend its trading...