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Capital Markets
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August 19, 2025
CFTC Wins $228M Restitution Order Against Ponzi Schemer
A New York federal judge on Tuesday ruled that it was "ludicrous" for a man who pled guilty to running a Ponzi scheme to try to escape punishment in a related suit brought by the U.S. Commodity Futures Trading Commission, ordering him to repay his victims over $228 million.
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August 19, 2025
Libra Promoters' Assets Unfrozen As Judge Vacates June TRO
A Manhattan federal judge on Tuesday denied injunctive relief for plaintiffs seeking over $100 million in damages over losses they took backing the cryptocurrency project Libra, saying she would dissolve an earlier asset freeze restraining two individual defendants who no longer seem at risk of dissipating assets.
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August 19, 2025
Fla. Judge Tosses Suit Against Deel Over Money Transfers
A Florida federal judge on Tuesday tossed a proposed class action accusing payroll company Deel Inc. of racketeering, ruling that a lack of a money transmitting license isn't enough to establish both standing and allegations that it facilitated millions of dollars in unlawful transfers in a scheme to defraud investors.Â
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August 19, 2025
MoFo-Led Industrial REIT Receives $1B PE Takeover Offer
Plymouth Industrial REIT Inc., advised by Morrison Foerster LLP, said Tuesday it is reviewing a roughly $1 billion takeover offer from Sixth Street Partners, a private equity firm that has invested in the real estate investment trust since at least last year.
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August 19, 2025
Linqto Says Ch. 11 Plan Will Have In-Kind Customer Payment
Linqto and its unsecured creditors committee told a Texas bankruptcy judge Tuesday that they have come to an agreement to give customers the chance for in-kind payment in the investment platform's Chapter 11 plan.
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August 19, 2025
Black Hills, NorthWestern Merge In $15.4B All-Stock Deal
Utility company Black Hills Corp., advised by Faegre Drinker Biddle & Reath LLP, on Tuesday announced plans to merge with Morgan Lewis & Bockius LLP-advised energy and infrastructure company NorthWestern Energy Group Inc. in an all-stock deal with a combined enterprise value of $15.4 billion.
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August 18, 2025
Battle Brews Over Fed's Plan For Big Bank Ratings Revamp
Leading banking industry groups are urging the Federal Reserve to move full speed ahead with a supervisory ratings overhaul that could classify more big banks as "well managed," but critics warn the plan amounts to dangerous, and potentially unlawful, grade inflation.
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August 18, 2025
SDNY Judges OK Trump's Selection Of Jay Clayton As US Atty
The Southern District of New York on Monday permitted Jay Clayton to continue overseeing the district's prosecutorial office, appointing Clayton as U.S. attorney just a day before his tenure as interim U.S. attorney was set to expire.
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August 18, 2025
Musk Seeks Early Win In Twitter Investor Fraud Case
Elon Musk has asked a California federal judge to dismiss claims brought by a class of former Twitter investors in litigation accusing the right-wing billionaire of intentionally tanking the social media platform's stock price, arguing his statements made ahead of the deal are accurate.
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August 18, 2025
Crypto Game Co. Accuses Jump Trading Of Pump-And-Dump
A crypto video game developer has accused high-frequency trading firm Jump Trading of engaging in a pump-and-dump of its token after striking a deal to provide market making services.
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August 18, 2025
Deutsche Bank, NCUA Net Partial Wins In Crisis-Era RMBS Suit
A New York federal judge has granted partial early wins to both the National Credit Union Administration board and Deutsche Bank in a long-running suit stemming from the 2008 financial crisis and concerning allegations that Deutsche Bank failed to fulfill its duties to certificate holders in several residential mortgage-backed securities trusts.
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August 18, 2025
Catching Up With Delaware's Chancery Court
Executives and board members of Cencora Corp. tentatively settled a stockholder derivative suit for $111.25 million, VectoIQ board members reached a $6.3 million deal on stockholder claims over electric carmaker Nikola's prospects, and class attorneys who secured a $50 million derivative suit settlement saw their proposed 25% attorney fee cut by almost half. Here's the latest from the Delaware Chancery Court.
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August 18, 2025
GrafTech Investors' Plant Contamination Suit Gets Tossed
An Ohio federal judge threw out a shareholder lawsuit against GrafTech International Ltd. on Monday, ruling that allegations the company hid environmental contamination problems at a Mexican plant amounted to "fraud by hindsight."
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August 18, 2025
Ex-Lovesac Execs Stuck With Bulk Of SEC Fraud Suit
The U.S. Securities and Exchange Commission's suit against two former executives of beanbag chair maker Lovesac will move forward after a Connecticut federal judge ruled that the SEC had adequately pled knowledge of wrongdoing by the defendants and the materiality of alleged misstatements.
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August 18, 2025
Investors Can't Yet Tie Logan Paul To CryptoZoo Claims
A Texas magistrate judge recommended that a proposed class action over Logan Paul's CryptoZoo project should be dismissed, writing that the group hadn't adequately connected the influencer to their claims that they were ripped off when the project failed.
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August 18, 2025
Litigation Funder Burford Eyes Investments In US Law Firms
Burford Capital LLC, the world's largest litigation funder, is eyeing an investment model to put money directly in U.S. law firms after years of investing in U.S. lawsuits, its chief development officer told Law360 Pulse.
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August 18, 2025
Treasury Seeks Input On Tech To Combat Crypto Crimes
The U.S. Department of the Treasury on Monday asked the public to share feedback on how novel technologies might be used to detect and thwart illicit crypto activity, fulfilling a directive under a recently signed bill to regulate stable value tokens.
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August 18, 2025
5 Firms Guide Soho House $2.7B Take-Private Deal With MCR
Soho House & Co. Inc. announced Monday that it has inked a take-private deal with hotel operator MCR that values the company at $2.7 billion.
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August 18, 2025
Weil Lands Kirkland Executive Compensation Pro In LA
Weil Gotshal & Manges LLP is expanding its West Coast team, announcing Monday it is bringing in a Kirkland & Ellis LLP executive benefits expert as a partner in its year-old Los Angeles office.
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August 15, 2025
Argentina Can Stay YPF Stake Turnover, 2nd Circ. Says
The Second Circuit on Friday paused a New York federal judge's order requiring Argentina to give up its 51% equity stake in the nationalized oil company YPF SA to partially pay off a $16.1 billion judgment in investor litigation, while the country appeals.
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August 15, 2025
Feds Say $2.8M In Seized Crypto Linked To Ransomware Ploy
Federal prosecutors say they've seized $2.8 million in crypto from accounts controlled by an alleged ransomware attacker.
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August 15, 2025
Schwab Defends Antitrust Settlement From Iowa AG Objection
The Charles Schwab Corp. has pushed back on objections raised by the Iowa attorney general and others to an investor class action settlement over its merger with TD Ameritrade, saying its plan to implement an antitrust compliance program, among other things, "offers real value to the class."Â
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August 15, 2025
Defense Attys Predict Rise In Shareholder Suits, Report Says
Nearly three-quarters of defense attorneys surveyed by high-risk insurance firm Inigo believe there will be an increase in private securities litigation over the next year, especially in the area of artificial intelligence, according to a report released by Inigo.
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August 15, 2025
Federal Reserve To End Crypto-Focused Supervisory Program
The Federal Reserve Board on Friday announced the end of a Biden-era supervisory program that specifically oversaw banks' crypto and fintech activities, a move that comes after Wall Street trade groups argued that the program unfairly subjected banks to a higher level of scrutiny for their use of novel tech.
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August 15, 2025
Firm Avoids FINRA Fine For Cooperation In Mutual Fund Case
A broker-dealer unit of Georgia-based insurance company Primerica has avoided a fine from the Financial Industry Regulatory Authority by providing what FINRA described as "extraordinary cooperation" in response to a probe of its practices for safeguarding the so-called rights of reinstatement in place for investors in certain mutual funds.
Expert Analysis
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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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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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A 2-Step System For Choosing A Digital Asset Reporting Path
Under the Internal Revenue Service's new digital asset reporting regulation, each type of asset may have three potential reporting destinations, so a detailed testing framework can help to determine the appropriate path, says Keval Sonecha at Sonecha & Amlani.
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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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A Tale Of Two Admins: Parsing 1st Half Of SEC's FY 2025
The first half of the U.S. Securities and Exchange Commission's fiscal year 2025, which ended March 31, was unusually eventful, marked by a flurry of enforcement actions in the last three months of former Chair Gary Gensler's tenure and a prompt pivot after Inauguration Day, say attorneys at Jones Day.
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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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Getting Ahead Of The SEC's Continued Focus On Cyber, AI
The U.S. Securities and Exchange Commission is showing it will continue to scrutinize actions involving cybersecurity and artificial intelligence, but there are proactive measures that companies and financial institutions can take to avoid regulatory scrutiny going forward, say attorneys at Morgan Lewis.
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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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Despite SEC Climate Pause, Cos. Must Still Heed State Regs
While businesses may have been given a reprieve from the U.S. Securities and Exchange Commission's rules aimed at standardizing climate-related disclosures, they must still track evolving requirements in states including California, Illinois, New Jersey and New York that will soon require reporting of direct and indirect carbon emissions, say attorneys at Husch Blackwell.
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A Primer On The Trading And Clearing Of Perpetual Contracts
The U.S. Commodity Futures Trading Commission recently released a request for comment on the trading and clearing of perpetual-style derivatives, most common in the cryptocurrency market, necessitating a deep look at how these contracts operate and their associated risks, say attorneys at Moore & Van Allen.
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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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Crunching The Numbers Of Trump SEC's 1st 100 Days
During the first 100 days of the second Trump administration, the U.S. Securities and Exchange Commission brought significantly fewer stand-alone enforcement actions than at the beginning of the Biden and the first Trump administrations, with every one of the federal court complaints including allegations of fraudulent conduct, say attorneys at Dentons.
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Series
Adapting To Private Practice: From DOJ Enviro To Mid-Law
Practitioners leaving a longtime government role for private practice — as when I departed the U.S. Department of Justice’s environmental enforcement division — should prioritize finding a firm that shares their principles, values their experience and will invest in their transition, says John Cruden at Beveridge & Diamond.
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A Look At Probabilistic Tracing After High Court's Slack Ruling
Recent decisions following the U.S. Supreme Court's 2023 ruling in Slack v. Pirani have increased the difficulty of pleading Securities Act claims for securities issued in direct listings by rejecting the use of statistical probabilities to establish that share purchases were traceable to a challenged registration statement, says Jonathan Richman at Brown Rudnick.
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FDIC Rules Rollback Foretells More Pro-Industry Changes
The Federal Deposit Insurance Corp.’s March withdrawal of Biden-era proposals to tighten brokered deposit rules and impose new corporate governance standards shows that acting chair Travis Hill’s commitment to reviewing regulations that may restrict growth and innovation for financial institution and fintech companies is unlikely to flag soon, say attorneys at Cooley.