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June 16, 2025
Fall FARA Trial Set For Ex-NY Gov. Aide As New Charges Loom
A Brooklyn federal judge on Monday set a fall trial date for a former top aide to two New York governors over allegations that she secretly acted as an agent of China's government in the U.S., while prosecutors intend to bring new charges within weeks.
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June 16, 2025
Trump Media Seeks To Launch Bitcoin And Ethereum ETF
Trump Media and Technology Group Corp., the owner of President Donald Trump's platform Truth Social, on Monday said it filed paperwork to launch an exchange-traded fund that will invest in bitcoin and ethereum, marking its latest push into digital assets.
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June 16, 2025
Opendoor Investors Score $39M Deal In Hyped Algorithm Suit
Real estate firm Opendoor Technologies Inc. has agreed to pay $39 million as part of an investor settlement presented to an Arizona federal court for preliminary approval to resolve litigation accusing the company of overhyping its pricing algorithm software.
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June 16, 2025
Judge Orders DOJ To Address Cuellar's Grand Jury Request
A Houston judge has given prosecutors until the end of the month to address whether they should provide U.S. Rep. Henry Cuellar with certain grand jury materials connected to his bribery case.
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June 16, 2025
JPMorgan Chase Beats ERISA 401(k) Forfeiture Suit
A California federal judge has tossed a proposed class action claiming JPMorgan Chase & Co. misused 401(k) plan forfeitures to cover its contributions, noting dismissals from other federal courts on similar claims challenging how employers have used the unvested funds.
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June 16, 2025
Qatar Bank Seeks OK Of $1B Award Against South Sudan
Qatar National Bank is urging a D.C. federal court to enforce a $1 billion arbitration award issued against the Republic of South Sudan after the country defaulted on a $700 million loan agreement from the country's civil war-era.
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June 16, 2025
High Court Skips Laches Question In Trademark Disputes
The U.S. Supreme Court on Monday declined to take up an appeal that asked if it is proper for courts to adopt state statutes of limitations in trademark disputes to determine whether a party took too long to sue.
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June 16, 2025
Justices Again Refuse To Hear Trading Tech's Patent Case
The U.S. Supreme Court on Monday refused to reconsider its April decision not to hear Trading Technologies' appeal seeking to boost its $6.6 million trading patent win after the company claimed new developments and patent eligibility legislation warranted taking the case.
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June 13, 2025
Vought's ÃÛÌÒÊÓÆµ Finds Industry Fans In Rule Repeal Effort
Financial industry groups are lining up behind the Consumer Financial Protection Bureau's push to scrap a trio of Biden-era policies that they say overexpanded its supervisory and enforcement toolkit, urging on the agency's newfound deregulatory zeal.
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June 13, 2025
More IPO Prospects Ready To Test Market After Chime's Debut
A venture-backed cancer diagnostics firm and a home insurer are preparing two initial public offerings that could raise $720 million combined next week, joining an energized IPO market following fintech startup Chime Financial Inc.'s debut.
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June 13, 2025
Quinn Emanuel Drops Binance Founder Amid $8M Fraud Suit
Quinn Emanuel Urquhart & Sullivan LLP has withdrawn as counsel for the founder of Binance amid an $8.1 million lawsuit against him, telling a Massachusetts federal judge that the former cryptocurrency exchange executive has breached an agreement with the law firm and moved for arbitration against it.
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June 13, 2025
PetroSaudi Unit Liquidators Seek Pause In $380M Award Suit
Liquidators seeking to establish control over a PetroSaudi unit that won a $380 million arbitral award asked a California federal judge to let them join U.S. Justice Department litigation targeting the award over ties to funds embezzled from a Malaysian sovereign wealth fund.
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June 13, 2025
Ga. Bank Ends Ex-Workers' Suit Over Liquidation Of Shares
A Georgia-based bank agreed to settle a proposed class action claiming it unlawfully forced former workers out of its employee stock ownership plan, preventing them from receiving their share of a $23.3 million dividend on company stock, according to a filing Friday in federal court.
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June 13, 2025
The Law Firm Loophole: How Debt Cos. Snare NC Consumers
To get around bans in North Carolina and many other states, debt relief companies set up facade law firms — companies that are law firms in name only, with a tiny number of lawyers nominally serving thousands of clients, consumer advocates and regulators say.
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June 13, 2025
MoneyGram Will Pay $250K To Finish Off ÃÛÌÒÊÓÆµ, NY Suit
MoneyGram has agreed to pay $250,000 to end a Biden-era remittance practice suit that was on its last legs after the Consumer Financial Protection Bureau pulled out of the enforcement action earlier this year, leaving the New York attorney general as the sole plaintiff.
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June 13, 2025
Cannabis Fund Seeks End Of $145M Mismanagement Suit
An investment fund has decided to voluntarily dismiss its lawsuit against two California businessmen who allegedly squandered $145 million given to them by a now dead Russian billionaire to launch cannabis grow operations in the state.
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June 13, 2025
Firms Get $275K Refund After $5M Overbilling Probe
Labaton Keller Sucharow LLP, Thornton Law Firm LLP and Lieff Cabraser Heimann & Bernstein LLP will get a total of about $275,000 back after collectively spending more than $5 million on a lengthy investigation into overbilling and other fee improprieties, a Massachusetts federal judge said Friday.
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June 13, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Tottenham Hotspur FC kick off against Manchester United co-owner Ineos Automotive following a soured sponsorship deal, Acer and Nokia clash over patents for video coding technology, and two investors reignite litigation against the founders of an AI exercise bike business that unlawfully pocketed $1.2 million in investments to fund their own lifestyles. Here, Law360 looks at these and other new claims in the U.K.
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June 12, 2025
Trump Admin Parries Fed Talk As Judge Weighs NCUA Firings
A Trump administration attorney studiously deflected questions about the Federal Reserve at a Thursday court hearing on President Donald Trump's firing of two Democratic credit union regulators, leaving the central bank's independence as the elephant in the room.
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June 12, 2025
Judge Pans 'Breathtaking' ÃÛÌÒÊÓÆµ Disavowal Of Redlining Deal
An Illinois federal judge Thursday refused to allow the Trump administration to abandon a recently settled Consumer Financial Protection Bureau redlining case, calling the ÃÛÌÒÊÓÆµ's bid to refund a Chicago-area mortgage lender accused of discriminatory lending practices "breathtaking."
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June 12, 2025
Trump's Deployment Of National Guard Illegal, Judge Says
A California federal judge on Thursday granted California's request for a temporary restraining order blocking President Donald Trump's order sending the National Guard into Los Angeles, calling the president's actions "illegal" and unconstitutional, but the decision was quickly paused by the Ninth Circuit.
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June 12, 2025
PNC Gets Fed. Circ. To Undo Its $223M Patent Loss To USAA
The Federal Circuit on Thursday wiped out two jury verdicts totaling nearly $223 million that United Services Automobile Association won against PNC Bank on mobile check deposit patents, finding the patents cover only abstract ideas.
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June 12, 2025
Ga. Financial Biz Lodges Trade Secrets Suit Against Rival
Atlanta Deferred Exchange Inc. has sued Deferred Inc. and a former employee who now works for the rival company, claiming they infringed trademarks and lifted trade secrets to bolster the competing financial advisory and consultancy business.
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June 12, 2025
JPMorgan Can't Exit Cash Sweep Rates Suit, Consumers Say
Consumers who accused JPMorgan Chase of underpaying the interest on their cash sweep accounts urged a New York federal judge on Thursday not to let the bank escape the suit, asserting several arguments, including that their contract claims are "anchored" to specific provisions in the parties' written agreement.
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June 12, 2025
Conn. Adviser Banned After $9.2M Fraud, Prison Sentence
The Connecticut Department of Banking banned an investment adviser from practicing his craft in the Constitution State following his sentence to 87 months in prison and a $9.2 million restitution payment for a Georgia fraud case.
Expert Analysis
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ÃÛÌÒÊÓÆµ Vacatur Bid Sheds Light On Agency Decision-Making
While the ÃÛÌÒÊÓÆµ's joint motion to vacate the settlement it reached with Townstone Financial last year won't affect precedent on the Equal Credit Opportunity Act's scope, it serves as a road map to ÃÛÌÒÊÓÆµ decisional processes and provides insight into how other regulators make similar decisions, says Jason McElroy at Saul Ewing.
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The Potential Efficiencies, Risks Of Folding PCAOB Into SEC
Integrating the Public Company Accounting Oversight Board into the U.S. Securities and Exchange Commission offers the potential for regulatory efficiencies, as well as a more streamlined and consistent enforcement approach, but it also presents constitutional and operational uncertainties, say attorneys at Hilgers Graben.
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Series
Adapting To Private Practice: From NY Fed To BigLaw
While the move to private practice brings a learning curve, it also brings chances to learn new skills and grow your network, requiring a clear understanding of how your skills can complement and contribute to a firm's existing practice, and where you can add new value, says Meghann Donahue at Covington.
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Reviewing Trump Admin's Rapid Pro-Crypto Regulatory Pivot
The digital asset industry has received a boost from the explicitly pro-crypto Trump administration, which in its first few months reversed Biden-era rules and installed industry proponents at regulatory agencies, marking one of the biggest regulatory about-faces by a government in recent memory, says Robert Appleton at Olshan Frome.
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Top 3 Litigation Finance Deal-Killers, And How To Avoid Them
Like all transactions, litigation finance deals can sometimes collapse, but understanding the most common reasons for failure, including a lack of trust or a misunderstanding of deal terms, can help both parties avoid problems, say Rebecca Berrebi at Avenue 33 and Boris Ziser at Schulte Roth.
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How Attys Can Use A Therapy Model To Help Triggered Clients
Attorneys can lean on key principles from a psychotherapeutic paradigm known as the "Internal Family Systems" model to help manage triggered clients and get settlement negotiations back on track, says Jennifer Gibbs at Zelle.
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Tracking The Evolution Of Liability Management Exercises
As liability management exercises face increasing legal scrutiny, understanding the history of these debt restructuring tools can help explain how the playbook keeps adapting — and why the next move is always just one ruling or transaction away, say attorneys at Weil.
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How Banks Can Manage Risk As AI Adoption Expands
Following new, supportive comments from financial regulatory leaders about the use of artificial intelligence in the industry, banks may move toward wider, less-tentative adoption of the technology, but will also need to deploy important risk management measures, say attorneys at WilmerHale.
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What Banks Must Do To Attract Gen Z Customers
The young adults of Generation Z bank differently, so financial institutions must engage appropriately if they wish to attract this key population, including by leveraging savvy marketing, well-designed online interfaces and top-notch customer service, says Madeline Thieschafer at Fredrikson & Byron.
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Rebuttal
Mass Arbitration Reform Must Focus On Justice
A recent Law360 guest article argued that mass arbitration reform is needed to alleviate companies’ financial and administrative burdens, but any such reform must deliver real justice, not just cost savings for the powerful, says Eduard Korsinsky at Levi & Korsinsky.
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What Bank Regulator Consolidation Would Mean For Industry
Speculation over the Trump administration’s potential plans to consolidate financial service regulators is intensifying uncertainty, but no matter the outcome for the Consumer Financial Protection Bureau, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency, the industry should expect continued policy changes, say attorneys at Foley & Lardner.
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3 Steps For In-House Counsel To Assess Litigation Claims
Before a potential economic downturn, in-house attorneys should investigate whether their company is sitting on hidden litigation claims that could unlock large recoveries to help the business withstand tough times, says Will Burgess at Hilgers Graben.
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Breaking Down Ill. Bellwether Case For Bank Preemption
The banking industry's pending lawsuit against the state of Illinois stands to permanently enjoin state regulation of bank card processing, as well as clarify the outstanding and consequential issue of whether conflict preemption continues to cover third parties in certain circumstances, says Tom Witherspoon at Stinson.
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Series
Teaching College Students Makes Me A Better Lawyer
Serving as an adjunct college professor has taught me the importance of building rapport, communicating effectively, and persuading individuals to critically analyze the difference between what they think and what they know — principles that have helped to improve my practice of law, says Sheria Clarke at Nelson Mullins.
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Planning For Open Banking Despite ÃÛÌÒÊÓÆµ Uncertainty
Though pending litigation or new Consumer Financial Protection Bureau leadership may reshape the Biden-era regulation governing access to consumer financial data, companies can use this uncertain period to take practical steps toward an open banking strategy that will work regardless of the rule’s ultimate form, says Adam Maarec at McGlinchey Stafford.