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Securities

  • July 30, 2025

    Ill. Forex Trader Spent Investors' Money On Himself, Jury Told

    An Illinois man fraudulently obtained at least $230,000 from investors with promises to return or even double their investments by trading on the foreign exchange market, but instead spent most of their money on personal expenses like designer clothes, restaurant meals, gym membership fees and credit card bills, prosecutors told a Chicago federal jury Wednesday.

  • July 30, 2025

    ImmunityBio Investors Nab Initial OK On Derivative Suit Deal

    A California federal judge has granted initial approval to a deal ending derivative claims that ImmunityBio executives failed to disclose manufacturing deficiencies that doomed the company's lead cancer drug application.

  • July 30, 2025

    TD Bank Can't Beat Suit Over $3B AML Fine, Investors Say

    TD Bank investors have urged a New York federal judge not to toss their class action over stock price drops the Canadian bank suffered after U.S. authorities announced a $3 billion settlement covering anti-money laundering compliance failures, saying it is undisputed that TD "vastly underinvested in AML compliance efforts" for over a decade.

  • July 30, 2025

    Senate Panel Advances 2 Bipartisan Bills Boosting ESOPs

    A key Senate panel advanced two bills Wednesday that would change federal benefits law related to employee stock ownership plans, or ESOPs, by providing businesses additional legal cover when they make company stock valuations and by adding ESOP representatives to a federal advisory board.

  • July 30, 2025

    Celsius Administrator Gets OK To Continue Clawbacks

    A New York bankruptcy judge shot down challenges to attempts by the Chapter 11 plan administrator for Celsius Networks to claw back transfers, saying a settlement provision didn't prevent the administrator from pursuing the clawbacks and the transactions fall under U.S. jurisdiction.

  • July 30, 2025

    Rising Star: Labaton Keller's Jake Bissell-Linsk

    Jake Bissell-Linsk of Labaton Keller Sucharow LLP has litigated on behalf of Boeing shareholders following safety failures involving 737 Max planes, resulting in several major victories, earning him a spot among the securities law practitioners under age 40 honored by ¼«ËÙÈü³µ as Rising Stars.

  • July 30, 2025

    OCC Hires Top Skadden Banking Atty As New Chief Counsel

    The Office of the Comptroller of the Currency said Wednesday that it is bringing on one of the leaders of Skadden Arps Slate Meagher & Flom LLP's bank regulatory practice to serve as the agency's new top lawyer.

  • July 30, 2025

    Samourai Wallet Execs Cop To Money-Transmitting Charges

    Two Samourai Wallet executives told a Manhattan federal judge Wednesday that they facilitated bitcoin transfers derived from criminal activity, pleading guilty to scheming to use their crypto-mixer as an unlicensed money transmitter but avoiding a more serious money-laundering conspiracy count.

  • July 30, 2025

    AI, Crypto Securities Class Actions On The Rise, Report Says

    The filing of new securities class actions has remained steady during the first half of 2025, but investor suits related to artificial intelligence and cryptocurrency are on pace to increase, according to a Cornerstone Research report released Wednesday, signaling the recent rapid growth of both industries.

  • July 29, 2025

    Tornado Founder Rests Case In $1B Crypto Laundering Trial

    Tornado Cash co-founder Roman Storm on Tuesday rested his defense case, without taking the stand, in a trial over allegations that he and others facilitated the laundering of more than $1 billion via the cryptocurrency tumbler and ran afoul of U.S. sanctions on North Korea.

  • July 29, 2025

    Oil Co. Misled Investors Prior To $295M Offering, Suit Says

    Oil and gas company Sable Offshore Corp. is facing a proposed investor class action alleging the company hurt investors by overpricing a secondary public offering after misrepresenting it had restarted oil production at a field off the coast of California.

  • July 29, 2025

    Ex-United Food President Can't Ditch Investor's Suit

    A New York federal judge has rejected a motion for judgment on the pleadings brought by the former president of United Natural Foods Inc. in a proposed securities fraud class action, finding shareholders have sufficiently shown at this point that the former executive had control and culpable participation in allegedly misleading statements.

  • July 29, 2025

    SEC Tosses Broker's NSCC Margin Rule Challenge

    The U.S. Securities and Exchange Commission has dismissed a bid by Alpine Securities Corp. to challenge heightened margin requirements from the National Securities Clearing Corp., with the commission finding the rules are too broadly applicable to warrant review as a denial of access.

  • July 29, 2025

    SEC Greenlights 'In-Kind' Redemptions For Crypto ETPs

    The U.S. Securities and Exchange Commission voted Tuesday to approve orders to allow cryptocurrency-based exchange-traded products to use in-kind creations and redemptions, aligning with more traditional ETPs.

  • July 29, 2025

    Pa. Bank Slams Ponzi Investors' 'Search For Scapegoats'

    A Pennsylvania-based community bank has urged a federal judge to dismiss a proposed class action accusing it of enabling a $155 million Ponzi scheme carried out by a Pennsylvania dentist and a Texas attorney, arguing that the case attempts to unconstitutionally import Texas securities law into the Keystone State.

  • July 29, 2025

    Ocugen Beats Investor Suit Over Financial Controls

    Biopharmaceutical company Ocugen Inc. on Tuesday won permanent dismissal from an investor's class action accusing it of concealing weak financial controls that led to it refiling accounting statements for several periods, with a Pennsylvania federal judge determining that Ocugen's stock price recovered from the announcement it had erred in its reports.

  • July 29, 2025

    Hawk Tuah Meme Coin Buyers Seek To Combine Their Suits

    Two groups of buyers of the viral "Hawk Tuah" meme-themed cryptocurrency on Monday asked a Brooklyn federal judge to combine their respective securities suits against the project's promoters and developers.

  • July 29, 2025

    Chancellor Partly Reverses Toss Of Pioneer Merger Doc Suit

    A Pioneer Natural Resources stockholder has won a battle but lost the war in a Delaware Court of Chancery review of a senior magistrate's denial of expanded access to books and records on Pioneer's $59.5 billion May 2024 merger with Exxon-Mobil.

  • July 29, 2025

    Prime Core Ch. 11 Trust Seeks Return Of $2.1M In Transfers

    The litigation trust for Prime Core Technologies has sued to claw back $2.1 million in cash and cryptocurrency paid out to customers in the weeks before its bankruptcy filing, saying other creditors are facing a serious recovery shortfall worsened by the payments.

  • July 29, 2025

    Crypto Mixer Execs To Change Plea In Samourai Wallet Case

    The two co-founders of crypto mixer Samourai Wallet told a New York federal judge on Tuesday that they intend to change their not guilty pleas after initially fighting charges that they facilitated over $2 billion in unlawful transactions.

  • July 29, 2025

    REIT Shareholders File 'Improper Lending' Suit Against Execs

    Two Arbor Realty Trust Inc. shareholders hit several of the real estate investment trust's executives, including its president and CEO Ivan Kaufman, with a derivative suit on Tuesday alleging they made the REIT use "improper lending practices" that saddled the company "with a severely distressed loan portfolio."

  • July 29, 2025

    Flywire Hid Impact Of Student Visa Restrictions, Investor Says

    Payment technology company Flywire Inc. has been hit with a proposed shareholder class action in New York federal court accusing the company of attempting to minimize the impact of international student visa restrictions, particularly in Australia and Canada, on its revenues.

  • July 29, 2025

    BofA Accuses FDIC Of $250M Rate Flip-Flop In Premiums Suit

    Bank of America has accused the Federal Deposit Insurance Corp. of making a "startling" about-face in their long-running deposit insurance dispute in Washington, D.C., federal court, claiming the agency is pushing to extract hundreds of millions in extra interest after the bank paid what it says was the full $657 million judgment owed.

  • July 29, 2025

    Del. Justices Undo Amazon's Chancery Win In Docs Row

    A Delaware Supreme Court panel has reversed a Court of Chancery decision tossing a suit from Amazon stockholders seeking company documents to probe alleged anticompetitive behavior, wrongdoing and mismanagement, finding the lower court declared the claims "overbroad" without considering their credibility.

  • July 29, 2025

    Oft-Penalized Deutsche Bank Finds New GC From Freshfields

    Deutsche Bank AG on Tuesday said a senior partner at Freshfields LLP who specializes in corporate criminal defense will become its new general counsel on Sept. 15.

Expert Analysis

  • Spinoff Transaction Considerations For Biotech M&A

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    Amid current market challenges, boards and management teams of biotech companies can consider several strategies for maximizing value should a spinoff opportunity arise, but not without significant advance planning and careful implementation, particularly in cases that might qualify as tax-free, say attorneys at Paul Hastings.

  • 2025's First Half Brings Regulatory Detours For Fintechs

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    The first half of the year has resulted in a bifurcated regulatory environment for fintechs, featuring narrowed enforcement in some areas, heightened scrutiny in others and a policy window that, with proper compliance, offers meaningful opportunities for innovation, say attorneys at Sheppard Mullin.

  • Opinion

    Senate's 41% Litigation Finance Tax Would Hurt Legal System

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    The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.

  • Comparing Stablecoin Bills From UK, EU, US And Hong Kong

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    For multinational stablecoin issuers, navigating the differences and similarities among regimes in the U.K., EU, Hong Kong and U.S., which are currently unfolding in several key ways, is critical to achieving scalable, compliant operations, say attorneys at Morgan Lewis.

  • What Baseball Can Teach Criminal Attys About Rule Of Lenity

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    Judges tend to assess ambiguous criminal laws not unlike how baseball umpires approach checked swings, so defense attorneys should consider how to best frame their arguments to maximize courts' willingness to invoke the rule of lenity, wherein a tie goes to the defendant, says Jonathan Porter at Husch Blackwell.

  • Tips For Litigating Apex Doctrine Disputes Amid Controversy

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    Litigants once took for granted that deposition requests of high-ranking corporate officers required a greater showing of need than for lower-level witnesses, but the apex doctrine has proven controversial in recent years, and fights over such depositions will be won by creative lawyers adapting their arguments to this particular moment, say attorneys at Hangley Aronchick.

  • Series

    Performing As A Clown Makes Me A Better Lawyer

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    To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.

  • A Guide To Permanent Capital Vehicles As Access Widens

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    Recent regulatory and legislative actions are making it easier for retail investors to access permanent capital vehicles like closed-end, interval, tender offer and open-end funds, which each offer distinct advantages that are important to review, say attorneys at Mayer Brown.

  • How Dfinity Timeliness Ruling Can Aid Crypto Issuers

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    A California federal court's recent dismissal of a class action against Dfinity, holding that the claims were time-barred by the Securities Act's three-year statute of repose, provides a useful defense for cryptocurrency issuers, which often solicit investments years before minting and distributing the associated tokens, say attorneys at Paul Weiss.

  • The CFTC Is Shaking Up Sports Betting's Legal Future

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    The sports betting industry faces a potential sea change amid recent state and federal actions across the regulatory landscape that have expanded access to sporting event contracts against the backdrop of waning Commodity Futures Trading Commission opposition, says Nick Covek at Foley & Lardner.

  • Series

    Law School's Missed Lessons: Rejecting Biz Dev Myths

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    Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.

  • Shareholder Takeaways From NY Internal Affairs Doctrine Suit

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    A May New York Court of Appeals decision in Ezrasons v. Rudd involving Barclays — affirming the state's "firmly entrenched" internal affairs doctrine — is a win for all corporate stakeholders seeking stability in resolving disputes between shareholders and directors and officers, say attorneys at Sadis & Goldberg.

  • Del. Dispatch: General Partner Discretion In Valuing Incentives

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    In Walker v. FRP Investors, the Delaware Court of Chancery recently held that the general partner of a limited partnership breached its obligations when determining the threshold value of newly issued incentive units, highlighting the court's willingness to reconstruct what a reasonable determination of value by a general partner should have been, say attorneys at Fried Frank.

  • Move Beyond Surface-Level Edits To Master Legal Writing

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    Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.

  • Early Trends In Proxy Exclusion After SEC Relaxes Guidance

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    The U.S. Securities and Exchange Commission’s recent guidance broadening shareholder proposal exclusion under Rule 14a-8 has been undoubtedly useful to issuers this proxy season, but it does not guarantee exclusion, say attorneys at Debevoise.

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