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Capital Markets
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July 31, 2025
Walnut Co. Says Firm Misled Court To Lead Super Micro Case
A Hagens Berman client who lost the fight against Universal Investment to lead investor claims against Super Micro Computer has blasted the fund's opposition to its bid for a California federal judge to reconsider the denial, arguing Universal's attorneys from Bernstein Litowitz Berger & Grossmann LLP have a "documented history" of "misleading courts."
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July 31, 2025
Crypto Co., NBA Arm Strike $7M Deal Over NFT Privacy Claims
Users of the nonfungible token marketplace known as NBA Top Shot asked a California federal judge Thursday to grant the first green light to a $7.05 million settlement they reached with the marketing arm of the NBA and a cryptocurrency company that will resolve a class action over privacy concerns related to the marketplace.
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July 31, 2025
NYSE Parent May Buy Enverus For $6B, Plus More Rumors
A Milwaukee-based advisory firm is in late talks for a stake sale at a $1 billion valuation, Black Rock Coffee Bar files confidentially for an initial public offering at a similar value, and the Intercontinental Exchange is in talks to buy Enverus for $6 billion. Here, Law360 breaks down these and other notable rumors from the past week.
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July 31, 2025
Rising Star: Fenwick's Chelsea Anderson
Chelsea Anderson of Fenwick & West LLP counseled project management software company Smartsheet Inc. on its $8.4 billion acquisition by a private equity consortium and advised real estate tech company Redfin on its $1.75 billion acquisition by Rocket Companies, earning Anderson a spot among the capital markets law practitioners under age 40 honored by Law360 as Rising Stars.
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July 31, 2025
Ill. Jury Convicts Forex Trader In $230K Fraud Scheme
A Chicago federal jury on Thursday convicted an Illinois man of duping investors with promises to deliver considerable profits by trading their money on the foreign exchange market, when he really spent most of their investments on himself and was barred from trading securities in the state.
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July 31, 2025
2nd Circ. Vacates OpenSea Crypto Insider Trading Conviction
The Second Circuit on Thursday overturned the fraud conviction of a former OpenSea manager accused of insider trading on nonfungible token sales on his employer's platform, finding that a Manhattan jury may have convicted him "based on conduct that it found to be unethical rather than fraudulent."
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July 30, 2025
Tornado Was A One-Stop Crypto Laundering Shop, Jury Told
Manhattan federal prosecutors Wednesday made their final arguments in the money laundering and sanctions trial of Tornado Cash co-founder Roman Storm, claiming the cryptocurrency tumbler's privacy-focused ethos was just a fig leaf for dirty money that flowed through its "fancy online laundromat."
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July 30, 2025
Fenwick, Latham Lead Web Software Giant Figma's $1.2B IPO
Web-design software maker Figma Inc. on Wednesday priced a $1.2 billion initial public offering above its upwardly revised price range, guided by Fenwick & West LLP and underwriters counsel Latham & Watkins LLP.
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July 30, 2025
White House Crypto Report Sets Blueprint For Coming Rules
A long-awaited report from the President's Working Group on Digital Asset Markets that was released Wednesday encouraged securities and derivatives regulators to use their existing authorities to clear the way for crypto issuance and trading in the absence of lasting legislation, while also urging banking regulators to sharpen standards for crypto engagement.
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July 30, 2025
Honest Co.'s $27.5M Investor Deal Gets Final OK
An investor class action against The Honest Co. Inc., the "clean lifestyle" brand founded by actress Jessica Alba, has gotten a final nod for a $27.5 million deal to end claims that the company did not disclose certain negative business trends ahead of its 2021 initial public offering.
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July 30, 2025
Iowa Slams Schwab's 'Amorphous' Antitrust Compliance Deal
The state of Iowa is among a slew of objectors to a settlement calling for Charles Schwab Corp. to implement an antitrust compliance program to resolve an investor class action stemming from its merger with TD Ameritrade, arguing the deal is unfair and completely fails to remedy the investors' harm.
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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.
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July 30, 2025
Truist Triggered Employee Exodus, Not Ex-Execs, Court Told
Three former executives who helmed the real estate finance arm of Truist Financial Corp. and their new employer are seeking a pretrial win in the bank's poaching case, telling a North Carolina state court judge they aren't to blame for Truist's alleged bad business decisions.
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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.
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July 30, 2025
Dechert Adds Tax Pro From PwC In DC
Dechert LLP has continued to grow its financial services platform in Washington, D.C., with the hire of a partner from PwC.
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July 30, 2025
Rising Star: Latham's Salvatore Vanchieri
Latham & Watkins LLP partner Salvatore Vanchieri has steered a gamut of groundbreaking deals, from electric-truck startup Rivian's blockbuster $11.9 billion initial public offering to private equity giant Sixth Street's investment in baseball's San Francisco Giants, landing him a spot among capital markets attorneys under age 40 honored by Law360 as Rising Stars.
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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.
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July 30, 2025
BVI Co. Seeks OK Of $5.8M Cost Award In Telecoms Fight
A British Virgin Islands company is asking a California federal court to enforce a $5.8 million cost award stemming from an arbitration dispute over a failed project to bring satellite broadband internet to sub-Saharan Africa.
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July 30, 2025
4 Firms Steer Palo Alto Networks' $25B CyberArk Buy
Cybersecurity giant Palo Alto Networks revealed plans Wednesday to acquire identity security company CyberArk in a cash-and-stock megadeal valued at $25 billion and built by four law firms.
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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.
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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.
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July 29, 2025
ÃÛÌÒÊÓÆµ Plans 'Accelerated' Push To Revamp Open Banking Rule
The Consumer Financial Protection Bureau on Tuesday persuaded a Kentucky federal judge to stay a banking industry legal challenge to its Biden-era open banking rule, saying it now plans to rewrite the rule on an "accelerated" basis and expects to start next month.
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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.
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July 29, 2025
Hedge Fund Nets $54M In S. Korea Samsung Merger Fight
South Korea has paid nearly $54 million owed under an arbitral award issued to a U.S. hedge fund in a dispute over a government bribery scandal that allegedly underpinned the $8 billion merger of two Samsung affiliates in 2015, Seoul said on Tuesday.
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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.
Expert Analysis
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DOJ's 1st M&A Declination Shows Value Of Self-Disclosures
The U.S. Department of Justice's recent decision not to charge private equity firm White Deer Management — the first such declination under an M&A safe harbor policy announced last year — signals that even in high-priority national security matters, the DOJ looks highly upon voluntary self-disclosures, say attorneys at Perkins Coie.
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Series
Law School's Missed Lessons: Practicing Self-Care
Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard​​​​​​​ at MG+M.
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Nev. Steps Up Efforts To Attract Incorporations With New Law
Recent amendments to Nevada corporate law, which will narrow controlling stockholders’ liability, streamline mergers and allow companies to opt out of jury trials, show the interstate competition to attract new and reincorporating companies is still heating up, say attorneys at Simpson Thacher.
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ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'
The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine.
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3rd-Party Audit Tactics To Improve Export Control Compliance
Companies should take a strategic approach to third-party audits in response to the Trump administration's ramp-up of export control enforcement with steps that strengthen their ability to identify the control weaknesses of distributors, dealers and resellers, say Michael Huneke at Hughes Hubbard, and John Rademacher and Abby Williams at Secretariat Advisors.
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How Trump's Trade Policies Are Shaping Foreign Investment
Five months into the Trump administration, investors are beginning to see the concrete effects of the president’s America First Investment Policy as it presents new opportunities for clearing transactions more quickly, while sustaining risk aversion related to Chinese trade and potentially creating different political risks, say attorneys at Covington.
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How Trump Admin Treasury Policies Are Reaching Banks
The Treasury Department has emerged as an important facilitator of the Trump administration's financial policies affecting banks, which are now facing deregulation domestically and the use of international economic authorities in cross-border trade and investment, say attorneys at Davis Polk.
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Series
My Opera And Baseball Careers Make Me A Better Lawyer
Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.
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A Look At DOJ's Dropped Case Against Early Crypto Operator
The prosecution of an early crypto exchange operator over alleged unlicensed money transmission was recently dropped in Indiana federal court, showcasing that the U.S. Justice Department may be limiting the types of enforcement cases it will bring against digital asset firms, say attorneys at Greenberg Traurig.
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8 Ways Lawyers Can Protect The Rule Of Law In Their Work
Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.
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Assessing New Changes To Texas Officer Exculpation Law
Consistent with Texas' recent modernization of its corporate law, the recently passed S.B. 2411 allows officer exculpation, streamlines certificate of formation amendments, authorizes representatives to act on shareholders' behalf in mergers and makes other changes aimed toward companies seeking a more codified, statutory model of corporate governance, say attorneys at Bracewell.
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Series
Law School's Missed Lessons: Communicating With Clients
Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law.
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Series
Adapting To Private Practice: From US Rep. To Boutique Firm
My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan.
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Opinion
Senate's 41% Litigation Finance Tax Would Hurt Legal System
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.
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Comparing Stablecoin Bills From UK, EU, US And Hong Kong
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.