Dave Michaels
@davidamichaels
I cover antitrust, securities and other white collar law enforcement for @WSJ. [email protected]. DM for Signal.
I reported out Atkins's work as an expert witness, including his opinions on the case that @SECGov filed against @ATT in 2021 over alleged leaks to Wall Street analysts. Spoiler: Atkins argued the case was unwarranted, and the SEC lawyers tried to have him stricken as an expert
Write up on nominated @SECGov Chair Paul Atkins by @WSJ s @davidamichaels wsj.com/politics/polic…
Realized this morning that I’d lost track of status of things at the CFPB, so asked ChatGPT (app, free version) to inform me. It kept mixing up first Trump admin with second, then finally told me there hasn’t been a second Trump administration. 👀
Scams involving shares of obscure, mostly Nasdaq-listed Chinese companies have proliferated in recent years, harming thousands of small US investors. Now the @TheJusticeDept is involved in fighting the alleged fraud: wsj.com/finance/regula…
Access journalist
.@chamath: “I was a megadonor to the Democrats … I couldn't get a phone call returned from the White House to save my life … The Trump administration is totally different. There's not a single person there you can't get on the phone and talk to.”
VCs so eager to throw money at the next AI thing they can't sniff out a guy who claims to automate the retail check out process, but instead "relies heavily on teams of human workers...to manually process transactions" ? justice.gov/usao-sdny/pr/t…
The Justice Department is scaling back how it polices crypto companies. The policy outlines a new approach to AML enforcement that seems to leave little room for the criminal case against Roman Storm wsj.com/finance/regula…
We're reporting that the @TheJusticeDept opened an antitrust investigation into the cause of soaring egg prices. The industry says supply shortage/price spike are solely due to the bird flu outbreak. wsj.com/business/egg-p…
A great story by my colleagues @WSJmarkets about the rise and fall (pump/dump) of the $Libra "memecoin." @SECgov says memecoins aren't securities, but when people lose money to these things, they turn to the SEC
The @SECgov has filed for a stay in SDNY in its suit against Justin Sun and Tron, saying the 2 sides need time to discuss a "potential resolution." Unlike other crypto matters dropped so far, this involves fraud and manipulation claims.
Trump’s FBI Pick Stands to Make Millions From Shein—Kash Patel is in line for Senate confirmation. Critics raise potential conflicts of interest in owning shares of firm with China ties @davidamichaels @cdriebusch @shenlulushen wsj.com/us-news/law/ka…
This is incorrect. The SEC didn't charge fraud in its lawsuit vs Elon. It alleged a violation of 13(d), which is a lesser violation than a fraud claim.
BREAKING: The SEC has sued Elon Musk in federal court over an alleged securities violation, per Bloomberg. The SEC alleges Elon "committed securities fraud in 2022 by failing to disclose his ownership in Twitter and buying shares at “artificially low prices.”
Audio for @TheJusticeDept-@Apple antitrust hearing today in Newark not working for me. Wonder if anyone else getting just silence. Federal court AV seems to rarely work.