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Securities

  • July 25, 2025

    Kalshi Tells 3rd Circ. Fed Law Bars NJ From Restricting Its Biz

    Sports betting company Kalshi's so-called prediction market that allows users to wager on the outcome of real-world events counts as a federal derivative exchange and, as a result, can't be regulated by state enforcers, the gambling company told the Third Circuit.

  • July 25, 2025

    Sports & Betting Cases To Watch In The Second Half Of 2025

    Certain court cases have become staples on both the midyear and end-of-year must-watch lists in sports and betting at ¼«ËÙÈü³µ. One that seemed best positioned to finally fall off the list, as it turns out, is far from over: the multibillion-dollar NCAA settlement regarding name, image and likeness payments and revenue sharing with hundreds of thousands of college athletes. A handful of other suits from past years will also continue to bear watching through the end of 2025.

  • July 25, 2025

    11th Circ. Overturns Funding Model For SEC Database

    The Eleventh Circuit sent the U.S. Securities and Exchange Commission back to the drawing board on Friday to chart a path forward for its $500 million market surveillance tool, telling the regulator that it was unreasonable to potentially force broker-dealers to fund the entire project.

  • July 25, 2025

    NGM Biopharma Investors Take $6M Deal To End Sale Suit

    The Column Group and former stockholders of NGM Biopharmaceuticals have agreed to settle for $6 million a Delaware Court of Chancery lawsuit challenging NGM's $135 million, $1.55-per-share sale to The Column Group, its pre-deal venture capital controller.

  • July 25, 2025

    NY Court Sides With Junior Investors In RMBS Trust Dispute

    A New York state court resolved a dispute between bondholders in 34 residential mortgage-backed securities trusts about how to handle repayment of principal amounts deferred during the 2008 financial crisis, siding with junior bondholders after a 17-day bench trial.

  • July 25, 2025

    3 Firms Guide Canadian REIT's $410M IPO

    Go Residential Real Estate Investment Trust began trading Friday after the newly created Canadian REIT priced a $410 million initial public offering at $15 per trust unit.

  • July 25, 2025

    Chancery Tosses UpHealth Affiliate's Suit For SPAC Damages

    Pointing to "numerous defects" in the complaint, a Delaware vice chancellor on Friday tossed every count in a suit filed by investors who alleged they were misled in the run-up to a multi-business special purpose acquisition company deal to take public now-bankrupt UpHealth Holdings and Cloudbreak Health.

  • July 25, 2025

    Chase, Other Banks To Pay $3.75M To End Crypto Ponzi Suit

    JPMorgan Chase and other financial firms have agreed to pay a combined $3.75 million to settle claims they helped funnel investor cash into a cryptocurrency-linked Ponzi scheme run by a man who was slapped with a $231 million court judgment last year over the fraud.

  • July 25, 2025

    Dentons Stalling Discovery In Terraform Ch. 11, Court Told

    The bankruptcy plan administrator for failed cryptocurrency platform Terraform Labs has accused Dentons US LLP of blocking his discovery requests in an attempt to secure final approval of some $25 million in fees, saying the law firm is seeking to "run out the clock" to dodge an investigation into its role in Terraform's collapse.

  • July 25, 2025

    Latham-Led Strategy Raises $2.5B To Acquire More Bitcoin

    Entrepreneur Michael Saylor's Strategy Inc., advised by Latham & Watkins LLP, on Friday priced yet another preferred stock offering that raised $2.5 billion in order to acquire bitcoin, a move that comes as the company has been ramping up its capital-raising efforts to stockpile the flagship cryptocurrency.

  • July 25, 2025

    Feds Sell Fugitive Trader's $7M Mansion Decade After Charges

    Massachusetts federal prosecutors said Friday that they have sold a $7.5 million mansion that belonged to a fugitive trader who was charged in 2015 with funneling $67 million in assets from his employer to himself.

  • July 25, 2025

    Health Data Co. Investor Fraud Suit Headed To Mediation

    The parties in a putative class action claiming a healthcare technology company misled investors about a data platform it claimed to operate, but which didn't actually exist, told a Connecticut federal court that they "agree this case is well suited for mediation."

  • July 25, 2025

    Ballard Spahr Atty To Co-Chair Buchalter State AG Group

    Buchalter PC announced Thursday that it has hired a former Ballard Spahr LLP partner as a shareholder in its white collar and investigations group who will also co-chair its state attorneys general group.

  • July 25, 2025

    What To Watch As Attys Brace For 401(k) Private Equity Order

    Benefits and asset management attorneys are anticipating an executive order from President Donald Trump aimed at expanding access to private equity investments in 401(k) plans, a potential move that's stoking excitement about added investment options and concerns about legal risks. Here are four things on experts' minds as they wait to see if the order materializes.

  • July 25, 2025

    CME Floor Traders Lose Membership Value Trial

    An Illinois jury on Friday sided with CME Group Inc. in a suit brought by longtime commodities traders who claimed the company violated their contractual trading floor access and proximity rights by opening a data center that accommodates high-speed and algorithmic trading, rejecting their request for $2 billion in damages.

  • July 25, 2025

    Crypto Group Appoints Ex-Legal Chief, Willkie Alum As CEO

    A Willkie Farr & Gallagher LLP alum will become the Crypto Council for Innovation's permanent leader after serving as acting CEO since December and previously serving as chief legal and policy officer.

  • July 24, 2025

    CME Facility Prioritizes Profit Over Promises, Traders Argue

    The Chicago Mercantile Exchange and Chicago Board of Trade prioritized profits over its contractual promises when it opened a facility to accommodate high-speed and algorithmic trading without keeping its access exclusive to longtime floor traders, the traders' counsel argued Thursday, asking an Illinois jury for more than $2 billion in damages. 

  • July 24, 2025

    NJ Atty To Pay SEC Fine Over Alleged Prime Bank Fraud Role

    A New Jersey attorney and a California man will pay the U.S. Securities and Exchange Commission a total of $134,000 as part of agreements to resolve the regulator's allegations they helped bilk an older couple out of over $150,000 through a so-called prime bank scheme. 

  • July 24, 2025

    Glass Lewis Sues Texas Over Proxy Advisory Restrictions Law

    Proxy advisory firm Glass Lewis & Co. LLC sued Texas Attorney General Ken Paxton on Thursday over a recently passed state law that it argues requires the firm to "publicly condemn itself" when its advice for clients reflects certain viewpoints the government disfavors.

  • July 24, 2025

    Logan Paul's Bid In CryptoZoo Suit Not Yet Ripe, Judge Says

    Media personality Logan Paul shouldn't be able to pin the collapse of his CryptoZoo project on the "empty chairs" of his co-founders for the time being, a Texas magistrate judge has counseled.

  • July 24, 2025

    Fluor Investor Attys Awarded $2.4M For Derivative Suit Deal

    A Texas federal judge on Thursday awarded $2.4 million in attorney fees and expenses in a settlement that resolved a derivative suit against the top brass of Fluor Corp. over claims that executives covered up the engineering and construction giant's improper bidding practices for years and caused billions of dollars in losses to the company.

  • July 24, 2025

    Lincoln National Beats Investor Suit Over $2.6B Loss, For Now

    A Pennsylvania federal judge on Thursday tossed with leave to amend a proposed securities class action alleging that Lincoln National Corp. misled investors about its financial health before reporting a $2.6 billion net loss in 2022, finding that the investors didn't specify when Lincoln National had access to certain data and studies.

  • July 24, 2025

    Trump Ally's Fund Firm Sues Powell Over Meeting Secrecy

    An investment firm led by a supporter of President Donald Trump sued Federal Reserve Chairman Jerome Powell and several members of the Federal Open Market Committee on Thursday, demanding public access to monetary policy meetings, saying that for the last 50 years, the committee has illegally held every one of its meetings behind closed doors.

  • July 24, 2025

    UnitedHealth Discloses DOJ Medicare Civil, Criminal Probes

    UnitedHealth Group Inc. has disclosed that it is complying with formal criminal and civil requests from the U.S. Department of Justice, following media reports about investigations into aspects of the insurance giant's participation in Medicare.

  • July 24, 2025

    JBS S.A. Sued In Del. Over Pilgrim's Pride Control Moves

    Pension fund stockholders of poultry industry giant Pilgrim's Pride Corp. have sued Brazil-based meat giant JBS S.A., its affiliates and its Pilgrim's board appointees in Delaware's Court of Chancery, alleging actions that unfairly increased JBS' clout and access to dividends and tax benefits at minority shareholder expense.

Expert Analysis

  • Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'

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    A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.

  • DOJ Memo Lays Groundwork For Healthy Bank Sponsorships

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    The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.

  • Series

    Law School's Missed Lessons: Teaching Yourself Legal Tech

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    New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.

  • Texas Targets Del. Primacy With Trio Of New Corporate Laws

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    Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.

  • How AI May Reshape The Future Of Adjudication

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    As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.

  • When Legal Advocacy Crosses The Line Into Incivility

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    As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.

  • Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet

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    Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.

  • 2 NY Rulings May Stem Foreign Co. Derivative Suits

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    In recent decades, shareholders have challenged the internal affairs doctrine by bringing a series of derivative actions in New York state court on behalf of foreign corporations, but the New York Court of Appeals' recent rulings in Ezrasons v. Rudd and Haussmann v. Baumann should slow that trend, say attorneys at Cleary.

  • FCPA Enforcement Is Here To Stay, But It May Look Different

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    After a monthslong enforcement pause, the U.S. Department of Justice’s new Foreign Corrupt Practices Act guidelines fundamentally shift prosecutorial discretion and potentially reduce investigatory burdens for organizations, but open questions remain, so companies should continue to exercise caution, say attorneys at Simpson Thacher.

  • Ore. Coinbase Case Charts New Path For State Crypto Suits

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    Oregon's recent lawsuit against Coinbase serves as a reminder for the crypto industry that not all states will simply defer to the U.S. Securities and Exchange Commission's evolving stance on crypto-assets, highlighting why stakeholders should proactively assess the risks posed by state-level litigation and develop strategies to address distinct challenges, say attorneys at Steptoe.

  • Series

    Volunteering At Schools Makes Me A Better Lawyer

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    Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.

  • Fed's Crypto Guidance Yank Could Drive Innovation

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    The Federal Reserve Board's recent withdrawal of guidance letters brings regulatory consistency and broadens banks' ability to innovate in the crypto-asset space, but key distinctions remain between the Fed's policy on crypto liquidity and that of the other banking regulators, says Dan Hartman at Nutter.

  • GM Case Highlights New Trends In AI-Related Securities Suits

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    Bold company statements about artificial intelligence have resulted in a rise in AI-related securities litigation, and a recent Michigan federal court decision in In Re: General Motors Co. Securities Litigation illustrates how courts are analyzing these AI-based claims and applying traditional securities concepts to new technologies, say attorneys at Cooley.

  • Attacks On Judicial Independence Tend To Manifest In 3 Ways

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    Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.

  • A Look At Texas Corp. Law Changes Aimed At Dethroning Del.

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    Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.

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