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Capital Markets
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July 17, 2025
Couche-Tard Pulls $47B Takeover Bid For 7-Eleven Parent
Alimentation Couche-Tard has withdrawn its nearly $47 billion bid to acquire Seven & i Holdings, the Japanese parent of 7-Eleven, citing "a persistent lack of good faith engagement" from Seven & i leadership.
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July 17, 2025
Pyrophyte's 2nd SPAC Raises $175M To Target Energy Biz
Special purpose acquisition company Pyrophyte Acquisition Corp. II began trading on the public markets on Thursday after raising $175 million in its initial public offering.
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July 17, 2025
Real Estate Finance Pro Returns To ArentFox Schiff In NY
ArentFox Schiff LLP has added a real estate finance partner in New York from Greenspoon Marder LLP who returns to the firm after seven years away, the firm announced this week.
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July 16, 2025
CME Trading Center Access Didn't Need Approval, Jury Hears
A data center that CME Group Inc. built to accommodate electronic trading is not a trading floor, and the exchange didn't ask permission to let both members and nonmembers do their work there because it didn't need to, an Illinois jury heard Wednesday in the traders' class action.
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July 16, 2025
NFT Fraudster Says He Used Tornado To Hide $1.1M Rug Pull
An admitted cryptocurrency fraudster who copped to a million-dollar nonfungible tokens scam Wednesday told the jury in the $1 billion money laundering and sanctions trial of Tornado Cash co-founder Roman Storm that when it came time to hide the proceeds of the NFT fraud, he turned to the crypto mixer to cover his tracks.
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July 16, 2025
Fed IG To Probe $2.5B HQ Renovation Amid Trump Criticism
The Federal Reserve's inspector general confirmed Wednesday that it plans to look into the central bank's $2.5 billion renovation of its Washington, D.C., headquarters, an overbudget project that has become a target of White House criticism of Fed Chair Jerome Powell.
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July 16, 2025
Disbarred Atty Urges 9th Circ. To Nix $243M Loan Scam Order
A Ninth Circuit panel appeared skeptical Wednesday of a disbarred attorney's bid to unwind an order requiring the lawyer to pay $243 million for his role in a student loan scam, pressing back against his claim that he had no opportunity to depose two witnesses because he was in custody.
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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.
Expert Analysis
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Series
Playing Mah-Jongg Makes Me A Better Mediator
Mah-jongg rewards patience, pattern recognition, adaptability and keen observation, all skills that are invaluable to my role as a mediator, and to all mediating parties, says Marina Corodemus.
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Business Court Bill Furthers Texas' Pro-Corporate Strategy
The Texas Legislature's recent bill to enhance corporate protections and expand access to the Texas Business Court by refining its jurisdictional standards is just the latest step in the state's playbook for becoming the new center of corporate America, say attorneys at Katten.
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Series
Law School's Missed Lessons: Navigating Client Trauma
Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.
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What To Expect As UK, US Gov'ts Develop Stablecoin Policies
While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
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Opinion
4 Former Justices Would Likely Frown On Litigation Funding
As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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Quantifying Trading-Based Damages Using Price Impact
The U.S. Securities and Exchange Commission will likely increasingly rely on price impact analyses to demonstrate pecuniary harm from trading-related misconduct, meaning measuring price impact will be helpful in challenging SEC disgorgement, determining appropriate remedies, and assessing loss causation and damages in private litigation, says Vyacheslav Fos at Boston College and Erin Smith at Compass Lexecon.
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Congress Crypto Movement Could Bring CFTC 'Clarity' At Last
The Clarity Act's arrival at the House floor during "Crypto Week" in Congress demonstrates enduring bipartisan support for legislation addressing digital assets and the Commodity Futures Trading Commission's important role in a future regulatory structure, say attorneys at DLA Piper.
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Practical Implications Of SEC's New Crypto Staking Guidance
The U.S. Securities and Exchange Commission's recent staff guidance that protocol staking does not constitute securities offerings provides a workable compliance blueprint for crypto developers, validators and custodial platforms willing to keep staking strictly limited to protocol-driven rewards, say attorneys at Cahill.
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Stablecoin Bills Present Opportunities, Challenges For Banks
Stablecoin legislation that Congress is expected to adopt in the coming weeks — the GENIUS and STABLE Acts — would create openings for banks to engage in digital asset activities, but it also creates a platform for certain tech-savvy nonbanks to directly compete, say attorneys at Arnold & Porter.
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How Attys Can Use AI To Surface Narratives In E-Discovery
E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.
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Leveraging Diligence Findings For Better Life Sciences Deals
Life sciences parties should utilize due diligence strategically to review and draft deal documents, address issues identified during the diligence, and craft solutions to achieve the party's transactional goals, says Anna Zhao at Gunner Cooke.
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Capital One Deal Approval Lights Up Path For Bank M&A
The federal banking regulators' recent approval of Capital One's acquisition of Discover signals the agencies' willingness to approve large transactions and a more favorable environment generally for bank mergers under the Trump administration, say attorneys at Arnold & Porter.
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Gauging The Risky Business Of Business Risk Disclosures
With the recent rise of securities fraud actions based on external events — like a data breach or environmental disaster — that drive down stock prices, risk disclosures have become more of a sword for the plaintiffs bar than a shield for public companies, now the subject of a growing circuit split, say attorneys at A&O Shearman.
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Series
Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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SEC Proposal Could Hurt Foreign Issuers' US Market Access
The U.S. Securities and Exchange Commission’s June call for feedback on potentially narrowing how it designates foreign private issuers of securities could ultimately result in significant new barriers for traders that rely on FPI accommodations to participate in U.S. markets, say attorneys at Gibson Dunn.