U.S. SEC proposes rules urging hedge funds, endowments to disclose votes

REUTERS

The top U.S. securities regulator on Wednesday proposed requiring large hedge funds and endowments to disclose how they vote on executive pay, bringing this clutch of influential investors in line with other top funds that have made their pay votes public for a decade. read more »

Ex-Theranos lab director, testifying in Elizabeth Holmes trial, was ‘most important’ source for investigation

WASHINGTON POST

Former Theranos lab director Adam Rosendorff took the stand in the trial of Elizabeth Holmes for his third day Wednesday, facing an extended cross-examination from defense lawyers. read more »

Founder Of New York Litigation Finance Firm Pleads Guilty To Multimillion-Dollar Securities Fraud Scheme

DOJ

Audrey Strauss, the United States Attorney for the Southern District of New York, and Philip R. Bartlett, the Inspector-in-Charge of the New York Division of the U.S. Postal Inspection Service (“USPIS”), announced that JAESON BIRNBAUM, an attorney and the founder of Cash4Cases, Inc., a bankrupt litigation funding firm that was headquartered in New York, New York, pled guilty to securities fraud today before U.S. District Judge Paul A. Crotty. BIRNBAUM admitted as part of his plea that he used investor funds for his own purposes and double-pledged the same case recoveries as collateral to multiple parties. read more »