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Capital Markets
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August 13, 2025
Andreessen Horowitz Urges SEC To Craft DeFi Safe Harbor
Venture capital firm Andreessen Horowitz and crypto lobby the DeFi Education Fund penned a joint letter Wednesday, urging the U.S. Securities and Exchange Commission to shield certain decentralized crypto projects from broker-dealer requirements.
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August 13, 2025
9th Circ. Greenlights Expansive Use Of Discovery Statute
The Ninth Circuit ruled for the first time that documents produced under a foreign discovery statute may be used in proceedings other than those identified in a petition, affirming an Oregon federal court decision in an acrimonious dispute over control of a Luxembourg-based investment fund.
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August 13, 2025
2 Estonians Get Time Served For $577M Crypto Ponzi Scheme
Two Estonian nationals have received no additional jail time for operating a $577 million crypto mining Ponzi scheme, despite federal prosecutors' assertions the pair deserved 10 years in prison for the fraud.Â
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August 13, 2025
SPAC Behind EV Maker Nikola, Shareholders Strike Settlement
Stockholders and board members for the blank-check company that took electric-vehicle maker Nikola public said they reached a $6.3 million deal to end a Delaware Chancery Court lawsuit that accused the SPAC of misleading investors about Nikola's prospects.
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August 13, 2025
KinderCare Faces Investor Suit Over Pre-IPO Abuse Claims
Early education company KinderCare Learning Companies Inc. is facing a proposed shareholder class action accusing it of misleading investors when the company went public in October 2024.
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August 13, 2025
Rising Star: Kirkland's Thomas Prommer
Thomas Prommer of Kirkland & Ellis LLP acted as lead counsel on a $7.5 billion private credit facility co-led by Blackstone and Magnetar Capital that provided cloud computing company CoreWeave with critical capital for expanding operations, earning him a spot among the complex financial instruments law practitioners under age 40 honored by Law360 as Rising Stars.
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August 13, 2025
Pa. Attorney Sues To Thaw $1.5M In Frozen Crypto Assets
A Pittsburgh-area attorney says his cryptocurrency assets worth more than $1.5 million across three platforms were improperly frozen, and he asked a Pennsylvania state court to order his accounts unfrozen.
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August 13, 2025
Crypto Casino CEO Charged With $4M Fraud Amid Plea Talks
The founder of a cryptocurrency casino previously arrested on suspicion of defrauding investors out of $4 million and transferring large sums to an online gambling site was formally charged on Wednesday amid ongoing plea talks.
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August 13, 2025
Crypto Co. Bullish Makes Public Debut After Upsized $1B IPO
Venture-backed crypto exchange Bullish made its public debut Wednesday after raising $1.1 billion in its upsized initial public offering, marking the latest in a string of crypto-related companies to dabble in the public markets.
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August 12, 2025
Bank Groups Call For Closing Stablecoin Law's 'Loopholes'
The American Bankers Association and more than 50 state counterparts on Tuesday urged Senate lawmakers to close several "loopholes" in a recently enacted federal law to regulate stablecoins with recommended additions to a separate proposal to regulate crypto markets.
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August 12, 2025
Terraform Founder Cops To $40B Crypto Fraud Scheme
The founder and former CEO of Terraform Labs on Tuesday admitted to perpetrating a multibillion-dollar fraud by deceiving investors about its decentralized finance-based ecosystem of crypto products, a scheme that wiped out $40 billion in market value when it collapsed.
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August 12, 2025
Airbnb Wants Conservative Shareholder Proposal Suit Tossed
Airbnb has asked a Delaware federal court to toss a suit alleging the vacation rental company wrongfully excluded conservative shareholders' proposals from its 2025 proxy materials, arguing they haven't alleged anyone at the company knew about the proposals at all.
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August 12, 2025
3rd Circ. Spurns Perrigo Investor's Bid To Avoid $97M Deal
A major shareholder in Perrigo Co. PLC has been barred from opting out of a $97 million securities class action settlement, after the Third Circuit held in a precedential opinion on Tuesday that the investor must bear the consequences of its counsel's failure to timely request exclusion.
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August 12, 2025
No New Foreign Bribery Trial For Ex-Connecticut Oil Trader
A former Connecticut oil trader faces sentencing Nov. 4 after a federal judge declined to overturn a jury's verdict finding him guilty of paying bribes to an official at Brazilian oil giant Petroleo Brasileiro SA and laundering money.
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August 12, 2025
DOL Yanks 2021 Guidance On Private Equity 401(k) Risks
The U.S. Department of Labor's employee benefits arm on Tuesday rescinded guidance from 2021 that warned 401(k) plan managers about the risks of investing in private equity, which comes after an executive order last week that called for expanding access to alternative asset classes in defined-contribution retirement plan investing.
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August 12, 2025
Rising Star: Dechert's Melissa Wollis
Melissa Wollis of Dechert LLP steered the largest collateralized loan obligation transaction in history at over $2.3 billion for Golub Capital Partners and helped create the first such transaction since the 2008 financial crisis to offer liabilities denominated in multiple currencies, earning her a spot among the complex financial instruments attorneys under 40 honored by Law360 as Rising Stars.
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August 12, 2025
Crypto-Focused SPAC Apex Treasury Unveils $250M IPO Plans
Special purpose acquisition company Apex Treasury Corp. has filed plans for a $250 million initial public offering, with the goal of acquiring a blockchain or crypto treasury company.
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August 12, 2025
Ex-Cognizant, Chevron Exec Joining Galaxy Digital As CLO
Crypto institutional investment and trading firm Galaxy Digital has found a new chief legal officer in the former general counsel of Cognizant Technology Solutions, who also held roles at Chevron and UnitedHealth Group.
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August 11, 2025
Calif. Trader To Pay SEC $358K Over Spoofing Allegations
A former day trader has agreed to give the U.S. Securities and Exchange Commission nearly $358,000 to end claims he manipulated options markets by means of so-called spoofing, illegally making about $234,000.
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August 11, 2025
4 Takeaways From Trump's Order To Expand 401(k) Assets
President Donald Trump's recent executive order aimed at expanding 401(k) savers' access to nontraditional 401(k) assets like private equity and crypto could open up a greater portion of the financial market to retirement savers, attorneys say, though plenty of regulatory hurdles lie ahead. Here, Law360 looks at four key takeaways on the order with attorneys and experts.
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August 11, 2025
FINRA Fines Goldman Over IPO Conflicts Of Interest
Investment banking giant Goldman Sachs has agreed to pay the Financial Industry Regulatory Authority $250,000 to end claims it failed to bring in an independent underwriter to work on a registration statement for a $700 million initial public offering in which Goldman had a conflict of interest.
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August 11, 2025
Financiers Want Soccer CEO's SPAC Fraud Suit In England
An investment business and two other financiers urged a Florida federal court to dismiss a soccer company CEO's lawsuit alleging civil securities fraud in a complex financing deal, saying similar litigation has already been initiated in the United Kingdom.Â
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August 11, 2025
Paxos Is Latest Crypto Firm To Seek OCC Bank Charter
Stablecoin issuer Paxos Trust Co. LLC said Monday that it has applied to become licensed and supervised by the Office of the Comptroller of the Currency, joining a wave of digital asset firms that are now pursuing U.S. banking charters from the agency.
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August 11, 2025
Judge To Order Bond, Sanctions In Crypto Miner's Ch. 11
A Delaware bankruptcy judge said Monday she would require the creditors that petitioned to force a cryptocurrency mining operation into Chapter 11 to post a multimillion-dollar bond in case their petition is dismissed.
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August 11, 2025
EY Says SPAC Investors' Fraud Suit Is 'Blame-Shifting'
EY's Middle East affiliates asked a New York federal judge to toss claims that they botched audits of United Arab Emirates-based Brooge Petroleum before its merger with a blank-check company to enable a fraudulent scheme against investors, arguing it was up to the plaintiffs to "kick the tires" before recommending the merger.
Expert Analysis
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Series
Hiking Makes Me A Better Lawyer
On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag.
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White House Report Strikes An Optimistic Note On Crypto
Taking seriously President Donald Trump's pledge to adopt a pro-innovation mindset toward digital assets and blockchain technologies, a recent benchmark White House report on crypto provides a comprehensive regulatory framework that takes into account the products' novel characteristics within the high-tech ecosystem, say attorneys at Davis Wright.
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Series
Law School's Missed Lessons: Negotiation Skills
I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, where I've discovered that the process is less about tricks or tactics, and more about clarity, preparation and communication, says Grant Schrantz at Haug Barron.
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Opinion
Andreessen Horowitz's Take On Delaware Is Misguided
Hostility toward incorporation in Delaware, as expressed in Andreessen Horowitz's recent announcement that it has moved its primary business from the First State to Nevada, is based on a basket of arguments that fail to stand up to harsher scrutiny, say attorneys at Alto Litigation.
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ESG-Focused Activism Persists Despite Proxy Curbs
Shareholder activism focused on environmental, social and governance factors appears poised to continue, despite the U.S. Securities and Exchange Commission's recent move toward exclusions in proxy voting proposals around ESG, say attorneys at Mintz.
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Opinion
Bar Exam Reform Must Expand Beyond A Single Updated Test
Recently released information about the National Conference of Bar Examiners’ new NextGen Uniform Bar Exam highlights why a single test is not ideal for measuring newly licensed lawyers’ competency, demonstrating the need for collaborative development, implementation and reform processes, says Gregory Bordelon at Suffolk University.
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A Simple Way Courts Can Help Attys Avoid AI Hallucinations
As attorneys increasingly rely on generative artificial intelligence for legal research, courts should consider expanding online quality control programs to flag potential hallucinations — permitting counsel to correct mistakes and sparing judges the burden of imposing sanctions, say attorneys at Lankler Siffert & Wohl and Connors.
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Opinion
SEC Should Restore Its 2020 Proxy Adviser Rule
Due to concerns over proxy advisers' accuracy, reliability and transparency, the U.S. Securities and Exchange Commission should reinstate its 2020 rule designed to suppress the influence that they wield in shareholder voting, says Kyle Isakower at the American Council for Capital Formation.
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What's At Stake In High Court Review Of Funds' Right To Sue
The U.S. Supreme Court's upcoming review of FS Credit Opportunities v. Saba Capital Master Fund, a case testing the limits of using Investment Company Act Section 47(b) to give funds a private right of action to enforce other sections of the law, could either encourage or curb similar activist investor lawsuits, say attorneys at Goodwin.
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The Road Ahead For Digital Assets Looks Promising
With new legislation expected to accelerate the adoption of blockchain technology, and with regulators taking a markedly more permissive approach to digital assets, the convergence of traditional finance and decentralized finance is closer than ever, say attorneys at Dechert.
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How Securities Defendants Might Use New Wire Fraud Ruling
Though the Second Circuit’s recent U.S. v. Chastain decision — vacating the conviction of an ex-OpenSea staffer — involved the wire fraud statute, insider trading defendants might attempt to import the ruling’s reasoning into the securities realm, says Jonathan Richman at Brown Rudnick.
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M&A Ruling Reinforces High Bar For Aiding, Abetting Claims
The Delaware Supreme Court's recent decision in In re: Columbia Pipeline may slow the filing of aiding and abetting claims against third-party buyers in situations where buyers negotiate aggressively, putting buy-side dealmakers' minds at ease that they likely won't be liable for seeking the best possible deal, say attorneys at Simpson Thacher.
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Series
Creating Botanical Art Makes Me A Better Lawyer
Pressing and framing plants that I grow has shown me that pursuing an endeavor that brings you joy can lead to surprising benefits for a legal career, including mental clarity, perspective and even a bit of humility, says Douglas Selph at Morris Manning.
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Opinion
The Legal Education Status Quo Is No Longer Tenable
As underscored by the fallout from California’s February bar exam, legal education and licensure are tethered to outdated systems, and the industry must implement several key reforms to remain relevant and responsive to 21st century legal needs, says Matthew Nehmer at The Colleges of Law.
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'Pig Butchering' Seizure Is A Milestone In Crypto Crime Fight
The U.S.' recent seizure of $225 million in crypto funds in a massive "pig butchering" scheme highlights the transformative impact of blockchain analysis in law enforcement, and the increasing necessity of collaboration between law enforcement agencies, cryptocurrency exchanges and stablecoin issuers, says David Zaslowsky at Baker McKenzie.