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Capital Markets
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August 28, 2025
2nd Circ. Affirms Hedge Fund Win In $87M Short-Swing Suit
A unanimous Second Circuit panel on Thursday upheld a summary judgment win for hedge fund Armistice Capital LLC and its managing member in a derivative suit brought by a shareholder of biotechnology company Vaxart Inc., which sought disgorgement of $87 million in short-swing profits that allegedly were wrongfully obtained by the investment adviser.
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August 28, 2025
CFTC Clears Registration Path For Offshore Crypto Cos.
The U.S. Commodity Futures Trading Commission on Thursday made clear that certain offshore cryptocurrency entities can use its foreign board of trade registration framework to serve U.S. customers.
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August 28, 2025
Unicoin Says SEC's $100M Fraud Suit 'Twists' Its Disclosures
Crypto firm Unicoin told a New York federal judge that the U.S. Securities and Exchange Commission's claim that it ran a $100 million fraud is based on "cherry-picked" statements taken out of context and "ignores" the firm's warnings to investors within its own disclosures with the agency.
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August 28, 2025
Guardian Capital Goes Private In $1.67B Deal With Desjardins
Canadian investment management firm Guardian Capital Group Ltd. on Thursday announced plans to go private after being bought by financial services company Desjardins Global Asset Management in a deal that values it at $1.67 billion and was built by three law firms.
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August 28, 2025
Justices Asked To Limit Private Investment Fund Suits
A group of investment funds seeking to fend off a challenge from an activist investor are urging the U.S. Supreme Court to issue a ruling in the case that would end the ability of private parties to file contractual disputes under the Investment Company Act.
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August 28, 2025
Judge Rejects Reed Smith's Sanctions Bid In Doc Feud
A New York federal judge has ordered the new owner of international shipping company Eletson to turn over documents requested by competitor Levona as the latter company looks to vacate an allegedly fraudulent $102 million arbitral award, while also ruling that Reed Smith LLP's threat of sanctions is unfounded.
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August 28, 2025
Truist, Ex-Execs Clash In Bids To End Poaching Dispute
Charlotte, North Carolina-based Truist Financial Corp. and its mortgage banking arm resisted a bid for a pretrial win by its former executives' new employer, arguing that troves of evidence sustain its claims that over 50 employees were illegally poached, costing the bank tens of millions of dollars in losses.
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August 28, 2025
ATM Network Investment Was $700M Ponzi Scheme, Suit Says
Four individuals have been hit with a proposed class action from an investment advisory firm, accusing them of using purported investments in ATM networks to run a $700 million Ponzi scheme.
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August 28, 2025
'Bitcoin Infrastructure' SPAC Files Plans To Raise $200M
Special purpose acquisition company Bitcoin Infrastructure Acquisition Corp. Ltd. has filed plans with regulators to raise up to $200 million in an initial public offering, a move that follows a pair of crypto-focused special purpose acquisition companies that began trading on Wednesday amid surging interest in digital assets.
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August 28, 2025
ByteDance Buyback To Bring $330B Value, And More Rumors
A planned employee share buyback by ByteDance could value the company at $330 billion, the Pinault family is reaching out to potential buyers for the German sports apparel brand Puma SE, and Canada Goose might be up for sale by its private equity owner Bain Capital. Here, Law360 breaks down these and other notable rumors from the past week.
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August 28, 2025
Proskauer Adds Another Structured Credit Atty From Dechert
Proskauer Rose LLP announced Wednesday that its structured credit team has gained another former Dechert LLP attorney in New York, touting his extensive experience with collateralized loan obligations.
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August 28, 2025
Federal Reserve Gov. Lisa Cook Sues Trump To Block Firing
Federal Reserve Gov. Lisa Cook filed suit in federal court in Washington, D.C., on Thursday challenging President Donald Trump's "unprecedented and illegal attempt" to remove her from her position.
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August 27, 2025
Crypto Firm Can't Block Gov't Contract For Seized Assets
A U.S. Court of Federal Claims judge won't halt a government contract for the management of seized crypto after finding Wave Digital Assets isn't likely to succeed in pressing its claims that the U.S. Marshals Service acted unfairly when it awarded the job to another provider.
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August 27, 2025
$75K In Atty Fees Awarded After $1M Ask In Trump Media Case
After much wrangling, a Delaware vice chancellor has granted a $75,000 attorney fee for ARC Global Investments II LLC, the investment sponsor behind the deal that took Trump Media & Technology Group public in 2024 — far from ARC's most recent ask of $1 million.
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August 27, 2025
Crypto Orgs. Won't Back Bill Without Developer Protections
A coalition of 112 crypto industry groups and firms came together in a Wednesday letter to tell federal lawmakers that they will not back a bill to regulate crypto markets without "explicit" protections for software developers and service providers of decentralized projects.
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August 27, 2025
Bitcoin Miner Says Energy Co. Owes $2.6M After Contract Exit
A Washington energy company owes more than $2.5 million to a Canadian cryptocurrency outfit after prematurely quitting a bitcoin-mining agreement, the Toronto-based firm claims in a new federal lawsuit filed in Seattle.
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August 27, 2025
Crypto Scammers' Travel Booker Cops To RICO Conspiracy
A man who managed luxury travel logistics for members of an alleged scam ring accused of stealing $230 million in cryptocurrency has pled guilty to racketeering conspiracy, admitting to converting stolen crypto to cash and arranging travel that furthered the criminal activity.
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August 27, 2025
Investors Accuse Suns Owner Of Undermining Minority Stakes
Two groups holding minority stakes in the NBA's Phoenix Suns and WNBA's Phoenix Mercury sued for company documents in Delaware's Court of Chancery Wednesday, alleging there is a lack of transparency and majority owner Mat Ishbia is attempting to dilute their investment.
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August 27, 2025
Crypto SPACs Raise $500M Amid Renewed Industry Optimism
Two SPACs targeting digital assets began trading Wednesday after raising a combined $500 million in initial public offerings, adding to a recent run of crypto-related blank check launches amid renewed investor interest in the sector.
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August 27, 2025
SEC Nets $46M Default Judgment In Crypto Fraud Case
A purported cryptocurrency mining and trading company and its founders are on the hook for over $46 million in combined payments to the U.S. Securities and Exchange Commission after allegedly defrauding potentially over 65,500 investors out of $28 million, a Florida federal judge has determined.
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August 27, 2025
Ga. Law Firm's Fee Fight With Broker-Dealer Moved To Mich.
A Georgia federal judge moved an Atlanta-area law firm's suit accusing a Michigan-based investment firm of failing to pay $180,000 in legal fees to the Great Lakes State after finding there is no evidence linking the Michigan-based company's Georgia branches to the alleged breach of contract.
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August 27, 2025
Skadden, Sidley Advise On Sompo's $3.5B Aspen Acquisition
Japanese insurer Sompo Holdings has agreed to acquire Aspen Insurance Holdings Ltd. for $3.5 billion in cash, with Skadden Arps Slate Meagher & Flom LLP representing Sompo and Sidley Austin LLP advising Aspen, the companies said Wednesday.
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August 26, 2025
Vesttoo Venture Capital Feud Goes To Arbitration In Israel
A New York federal magistrate judge has ordered that fraud and negligence claims against a venture capital firm over $1 million of an investor's money that was placed into Israeli fintech firm Vesttoo Ltd., which was later ensnared in a scandal over $4 billion worth of forged letters of credit, go to arbitration in Israel.Â
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August 26, 2025
Feds Appeal No-Jail Sentences In $577M Crypto Fraud Case
Federal prosecutors said Tuesday that they're appealing the time-served sentences for two Estonian nationals who pled guilty to wire fraud conspiracy in connection with a $577 million cryptocurrency mining Ponzi scheme, while the federal judge who handed down the sentencings called them "one of the most difficult" of his career.
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August 26, 2025
Five Below Beats Some Investor Claims On Growth Potential
A Pennsylvania federal judge has trimmed some claims from a shareholder suit accusing discount retailer Five Below and its executives of overstating the company's growth prospects and its ability to curb inventory loss, finding some of the suit's challenged statements to be inactionable, among other things.
Expert Analysis
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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.
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What Baseball Can Teach Criminal Attys About Rule Of Lenity
Judges tend to assess ambiguous criminal laws not unlike how baseball umpires approach checked swings, so defense attorneys should consider how to best frame their arguments to maximize courts' willingness to invoke the rule of lenity, wherein a tie goes to the defendant, says Jonathan Porter at Husch Blackwell.
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Series
Performing As A Clown Makes Me A Better Lawyer
To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.
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A Guide To Permanent Capital Vehicles As Access Widens
Recent regulatory and legislative actions are making it easier for retail investors to access permanent capital vehicles like closed-end, interval, tender offer and open-end funds, which each offer distinct advantages that are important to review, say attorneys at Mayer Brown.
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How Dfinity Timeliness Ruling Can Aid Crypto Issuers
A California federal court's recent dismissal of a class action against Dfinity, holding that the claims were time-barred by the Securities Act's three-year statute of repose, provides a useful defense for cryptocurrency issuers, which often solicit investments years before minting and distributing the associated tokens, say attorneys at Paul Weiss.
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The CFTC Is Shaking Up Sports Betting's Legal Future
The sports betting industry faces a potential sea change amid recent state and federal actions across the regulatory landscape that have expanded access to sporting event contracts against the backdrop of waning Commodity Futures Trading Commission opposition, says Nick Covek at Foley & Lardner.
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Series
Law School's Missed Lessons: Rejecting Biz Dev Myths
Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.
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Move Beyond Surface-Level Edits To Master Legal Writing
Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.
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Early Trends In Proxy Exclusion After SEC Relaxes Guidance
The U.S. Securities and Exchange Commission’s recent guidance broadening shareholder proposal exclusion under Rule 14a-8 has been undoubtedly useful to issuers this proxy season, but it does not guarantee exclusion, say attorneys at Debevoise.
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9th Circ. Has Muddied Waters Of Article III Pleading Standard
District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
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Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'
A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.