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Capital Markets
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July 16, 2025
House Crypto Bills Clear Procedural Hurdle After Late Stall
Three pieces of crypto legislation moved forward late Wednesday night after stumbling at a procedural hurdle in the House of Representatives as multiple Republican lawmakers broke with their party and temporarily withheld their support.
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July 16, 2025
Odebrecht Investors Score Early Wins In Bribe-Scheme Suit
A New York federal judge on Wednesday granted partial wins to an investment firm and funds that are suing Brazilian engineering conglomerate Odebrecht SA and two subsidiaries over an alleged far-reaching bribery scheme, saying the plaintiffs have established the defendants knowingly made material misrepresentations that were relied upon.
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July 16, 2025
2nd Circ. Backs Argentina In Bondholders' $360M Debt Suit
Argentine debtholders claiming the country owes them more than $360 million in improperly withheld payments lost their case before the Second Circuit on Wednesday, which ruled that the bonds' governing documents prohibited the lawsuits.
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July 16, 2025
Linqto Investor Says Ch. 11 Case Is Forum-Shopped 'Scheme'
Linqto shareholder Sapien Group told a Texas bankruptcy judge on Wednesday that the investment platform's Chapter 11 filing this month is a "quintessential example" of forum shopping that was designed to evade an investor effort to replace Linqto's board, urging the judge to transfer the case to Delaware.
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July 16, 2025
Crypto Treasuries Gain Traction, But Regulatory Risk Remains
Public companies are increasingly adding digital assets to their corporate treasuries amid a more favorable regulatory environment for crypto, but attorneys on the deals say they're still counseling clients to be prepared to pivot if policy winds change.
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July 16, 2025
2 Firms Tapped To Lead Meme Coin Pump-And-Dump Suit
Two law firms have been named lead counsel in a proposed securities class action accusing a crypto platform, a venture capital firm and their executives of a "covertly orchestrated" scheme to pump and dump a token affiliated with a newly launched meme coin exchange.
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July 16, 2025
Ex-NFL Player Can't Undo Legal Fees In 'Shark Tank' Dispute
A New Jersey federal judge rejected former NFL player Al "Bubba" Baker's request to undo certain rulings and $110,800 in legal fee awards in his ongoing dispute with Shark Tank Star Daymond John, who accused the defensive end of defamation after their boneless rib business venture soured.
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July 15, 2025
Tornado Founder Wasn't In On Crypto Laundering, Jury Told
Counsel for a Seattle-area software developer and co-founder of Tornado Cash told a New York federal jury on Tuesday that he had nothing to do with North Korean cybercriminals and others who used the cryptocurrency mixer to launder more than $1 billion in ill-gotten gains.
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July 15, 2025
PCAOB Chief Erica Williams Has Resigned, SEC Chair Says
Erica Y. Williams has resigned as chair and a board member of the Public Company Accounting Oversight Board after more than three years in the position, according to a statement issued Tuesday by U.S. Securities and Exchange Commission Chairman Paul S. Atkins.
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July 15, 2025
FDIC Says Farella Braun Can't Get Fees In First Republic Suit
The Federal Deposit Insurance Corp. has asked a California federal court to toss a more than $50,000 legal fee claim tied to First Republic Bank's collapse, arguing that Farella Braun, the law firm behind the claim, failed to submit a valid written agreement or itemized invoices and its claim is legally insufficient.
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July 15, 2025
Gould Sworn In As Comptroller Of Currency
Former Jones Day partner Jonathan Gould on Tuesday was sworn in as the next leader of the Office of the Comptroller of the Currency, marking his return to the agency where he spent more than two years as chief counsel.
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July 15, 2025
Deep Sea Mining Co. Gets Suit Over 'Green' Investments Axed
A New York federal judge has dismissed in its entirety a suit accusing The Metals Co. Inc. of misleading investors about the magnitude of its "green" investments and its private equity backing before going public, finding that the suit's challenged statements were not false when made.
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July 15, 2025
FDIC Floats Rule 'Indexing' Plan In Deregulatory Blitz
The Federal Deposit Insurance Corp. has unveiled plans to begin automatically raising dollar thresholds used to determine which compliance requirements apply to banks, part of a broader raft of deregulatory measures that agency leaders advanced on Tuesday.
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July 15, 2025
Betting Site Polymarket Says Feds Have Dropped Probe
Federal prosecutors have ended an investigation into the betting site Polymarket without taking any action against the platform, the company's CEO said in a social media post Tuesday.
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July 15, 2025
Weedmaps, SPAC Officers Want Out Of Investor SEC Fine Suit
Cannabis tech company Weedmaps Technology Inc. and leaders of a blank check company that it merged with have asked to be released from an investor's proposed class action alleging damages following the U.S. Securities and Exchange Commission's announcement that it fined Weedmaps $1.5 million for allegedly making misleading statements about its monthly active users.
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July 15, 2025
Court Reporters Defend Suit Saying Group Coerces Dues
A pair of court reporters defended their New Jersey federal court proposed class action accusing the National Court Reporters Association of anticompetitively conditioning needed certification on expensive membership with the group, arguing the NCRA can't try to argue that membership and certification are one and the same.
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July 15, 2025
Holland & Knight Adds LGBTQ-Led Startup Pro To VC Team
Holland & Knight LLP has added a director of client development with over a decade of experience in venture capital, startup investing and business development for its emerging companies and venture capital practice.
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July 15, 2025
Reed Smith Says Docs Slipped Through Stay In Eletson Row
Reed Smith has asked the Second Circuit to again step in and block new owners of reorganized Greece-based international shipping company Eletson from viewing communications between the firm and the company's prior owners, saying that, despite a stay already in place, the new owners were allowed to acquire some files.
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July 15, 2025
LA Deputies Admit Using Positions To Aid Crypto 'Godfather'
Two Los Angeles County sheriff's deputies admitted using their official positions to harass enemies of a cryptocurrency founder who called himself "The Godfather" and failed to report $36 million in income from selling hacked Meta business accounts, the U.S. Department of Justice said.
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July 14, 2025
Regulators Outline Crypto 'Safekeeping' Guidelines For Banks
Federal regulators said Monday that banks are free to offer cryptocurrency "safekeeping" services but should be mindful of the risks involved, stressing the need for strong cybersecurity and clear customer agreements, among other considerations.
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July 14, 2025
NBA Deal Investor Suit Doesn't Hold Up, Warner Bros. Says
Warner Bros. Discovery has asked a New York federal judge to throw out investors' proposed class action over its failed negotiations for a new media rights agreement with the NBA, arguing that the investors haven't pointed to any evidence showing that Warner Bros. intended to mislead them about the deal.
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July 14, 2025
Nev. Says Crypto.com Twisted Fed Law For Sports Betting Biz
The Nevada Gaming Control Board urged a federal court to stay out of its way as it takes action to block Crypto.com from offering sports events contracts, arguing that its moves aren't preempted by federal regulation of the commodity futures market.
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July 14, 2025
Willkie-Led McGraw Hill Launches $500M IPO
Education publisher giant McGraw Hill Inc. on Friday launched its initial public offering with plans to raise $500 million, with Willkie Farr & Gallagher LLP advising the company and Cahill Gordon & Reindel LLP steering the underwriters.
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July 14, 2025
BlockFi, DOJ End Ch. 11 Suit Over $35M In Scammed Crypto
The plan administrator running the wind down of cryptocurrency lending platform BlockFi Inc. and the U.S. Department of Justice agreed to end two years of litigation over the government's efforts to recover $35 million in digital tokens deposited with the former debtor by a pair of Estonian scammers.
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July 14, 2025
2nd Circ. Affirms Biotech Founder's Win In Trading Suit
The Second Circuit on Monday affirmed an early win for the founder of biotech Y-mAbs Therapeutics Inc. in a suit alleging he realized more than $2.5 million in short-swing profits after he exchanged his shares for those of another company, agreeing with the lower court that the move didn't constitute a "purchase."
Expert Analysis
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Texas Fraud Case Shows Dangers Of Faulty Crypto Reporting
The recent sentencing of a man who failed to properly report capital gains from bitcoin sales is a reminder that special attention must be given to the IRS' reporting requirements in order to stay out of the government's crosshairs, says Saverio Romeo at Fox Rothschild.
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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BlackRock Suit Highlights Antitrust Risks Of ESG
In Texas v. BlackRock, pending in Texas federal court, 13 state attorneys general are suing large institutional investors in the coal business, underscoring key reasons companies may want to alter their approach to developing and implementing policies related to environmental, social, and governance factors, especially if coordination with competitors is involved, say attorneys at Manatt.
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How Rising Secondary Private Markets Affect Tech Disputes
The rise of secondaries is a natural by-product of growing and evolving private markets and, as such, we can expect their growth will continue, signaling an increase in the use of secondaries in damages as well as litigation revolving around secondaries themselves, says Farooq Javed at The Brattle Group.
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Suggestions For CFTC Enforcement's New Leadership
The recent change in leadership at the U.S. Commodity Futures Trading Commission presents an opportunity to reflect on past practices and consider opportunities for improvement at the commission's Enforcement Division, including in observing precedent and providing greater enforcement transparency, say attorneys at Clifford Chance.
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Opinion
NFT Bill Needs Refining To Effectively Regulate Digital Assets
A recent bill in the U.S. House proposing to regulate nonfungible tokens as digital assets would leave key concepts undefined until the U.S. comptroller general completes an after-the-fact study of NFTs, showing it needs more work before it is comprehensive enough to meaningfully protect the market, say attorneys at Duane Morris.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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What To Expect In Crypto Banking After SEC Nixed Guidance
With the U.S. Securities and Exchange Commission recently rescinding its controversial cryptocurrency accounting guidance, the industry's focus will turn to the potentially significant hurdle to crypto banking posed by the federal banking regulators, say attorneys at Duane Morris.
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Fund Names Rule FAQs Leave Some Interpretative Uncertainty
Although recently released FAQs clarify many specific points of the 2023 expansion to the Investment Company Act's fund names rule, important questions remain about how U.S. Securities and Exchange Commission staff will interpret other key terms when the end-of-year compliance date arrives, say attorneys at Dechert.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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What Travis Hill's Vision For FDIC Could Portend For Banks
If selected to lead the Federal Deposit Insurance Corp. in a permanent capacity, acting Chairman Travis Hill is likely to prioritize removing barriers to innovation and institution-level growth, emphasizing the idea that eliminating rules, relaxing standards and reducing scrutiny will reinvigorate the industry, say attorneys at Mitchell Sandler.
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5 Major Crypto Developments From The Trump Admin So Far
The early weeks of the Trump administration have set the stage for a significant transformation in U.S. digital asset policy by prioritizing regulatory clarity, innovation and a shift away from enforcement-heavy tactics, but many of these changes will require congressional support and progress may be gradual, say attorneys at Ropes & Gray.
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Comparing 2 Pending Bills To Regulate Stablecoins
Alexandra Steinberg Barrage at Troutman analyzes the key similarities and differences between two payment stablecoin proposals currently pending in Congress — the STABLE and GENIUS acts — as both chambers are forming a working group to deliver a clear regulatory framework for digital assets and bipartisan agreement appears within reach.