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Capital Markets
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July 01, 2025
Deutsche Faces Investor Bid To Renew UK Bond-Rigging Case
An Oklahoma pension fund moved Monday to revive its New York federal court case over alleged price-fixing of U.K. government bonds, citing newly obtained chat transcripts and other material that it says bolster its claims against Deutsche Bank.
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July 01, 2025
Judge Advances Shaq And FTX Investors' $1.8M Deal
A $1.8 million settlement between FTX investors and former NBA star Shaquille O'Neal has received preliminary sign-off from a Florida federal judge in a step toward confirming the deal that would resolve claims that the retired NBA star misled FTX investors with his alleged promotion of the now-collapsed cryptocurrency exchange.
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July 01, 2025
Fenwick, Latham Lead Web-Design Giant Figma's IPO Filing
Web-design software maker Figma Inc. on Tuesday filed for an initial public offering, joining a growing pipeline of IPO candidates as summer heats up, represented by Fenwick & West LLP and underwriters counsel Latham & Watkins LLP.
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July 01, 2025
Banking Veteran's Latest SPAC Leads 3 IPOs Raising $420M
Banking executive Betsy Cohen's latest special purpose acquisition company began trading Tuesday after raising $220 million, in the largest of three initial public offerings totaling $420 million to join a resurgent SPAC market.
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July 01, 2025
Banking Groups Call For Indexing Of Regulatory Thresholds
The American Bankers Association and its state counterparts are urging federal regulators to prioritize updating thresholds that trigger heightened supervisory obligations to account for inflation and the growth of the banking sector, arguing that the current standards unintentionally subject some institutions to burdensome requirements.
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July 01, 2025
Justices Face Busy Summer After Nixing Universal Injunctions
The U.S. Supreme Court's decision to limit nationwide injunctions was one of its biggest rulings of the term — a finding the court is likely going to be dealing with all summer. Here, Law360 takes a look at the decision, how it and other cases on the emergency docket overshadowed much of the court's other work, and what it all means for the months to come.
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July 01, 2025
Virtu, SEC Move To Settle Information Security Suit
The U.S. Securities and Exchange Commission and Virtu Financial Inc. told a New York federal judge on Tuesday that they have struck a tentative deal to end a lawsuit accusing the broker-dealer of failing to adequately protect customer data.
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July 01, 2025
FTX Bahamas, Celsius Settle Clawback Claims
Crypto exchange FTX's Bahamas unit and crypto lender Celsius Network have reached a deal to end Celsius' attempt to claw back $516.6 million transferred out of Celsius accounts just prior to its Chapter 11 filing.
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July 01, 2025
Oppenheimer Drops Suit Over Ex-Adviser's Ponzi Scheme
Oppenheimer & Co. Inc. has dropped its suit against three North Carolina residents challenging whether they are entitled to arbitrate their case against the financial services giant over a Ponzi scheme orchestrated by a former employee, court records show.
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July 01, 2025
Axing Lit Funding Tax Bid Relieves Industry But Fears Remain
Litigation funders are breathing a sigh of relief after a provision to impose a 41% punitive tax on the $16 billion industry was stripped Tuesday from the massive federal spending bill, but many think the episode is just the prelude to further battles with corporate opponents.
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July 01, 2025
NY AG Urges Lawmakers To Strengthen Stablecoin Legislation
New York's Attorney General Letitia James is calling on U.S. lawmakers to strengthen pending bills to regulate so-called stablecoins in a letter made public Tuesday that argued neither the House nor the Senate's proposals contain the necessary guardrails to protect consumers.
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July 01, 2025
Proxy Firms Don't 'Solicit' Investor Votes, DC Circ. Rules
A D.C. Circuit panel Tuesday ruled that proxy advisory firms do not "solicit" proxy votes, thus denying a manufacturing industry group's attempt to revive a U.S. Securities and Exchange Commission rule regulating those firms.
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July 01, 2025
Willkie Lands Former Orrick Energy Leader In Houston
The former global energy and infrastructure sector leader at Orrick Herrington & Sutcliffe LLP has moved his practice to Willkie Farr & Gallagher LLP in Houston, Willkie announced Tuesday.
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July 01, 2025
Linklaters Continues US Growth With NY Capital Markets Atty
Linklaters LLP has brought on the former co-head of Proskauer Rose LLP's capital markets group as a capital markets and mergers and acquisitions partner in New York.
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July 01, 2025
SIX Finalizes Aquis Deal, Boosts European Market Reach
SIX Exchange Group AG said on Tuesday it has successfully closed its acquisition of London's challenger stock exchange Aquis, which the Swiss bourse group believes will boost its position in European trading.
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June 30, 2025
Argentina Must Turn Over YPF Stake, NY Judge Says
Argentina must give up its 51% equity stake in the nationalized oil company YPF SA to partially pay off a $16.1 billion judgment in a pair of investor lawsuits, a New York federal judge ruled Monday, rejecting the country's argument that sovereign immunity shields the shares from turnover.
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June 30, 2025
9th Circ. Nixes Suit Against Allianz Over $6B Fraud Sentence
A man can't bring securities fraud claims against Allianz SE after one of the German financial services giant's former businesses pled guilty to investment fund fraud and was ordered to pay roughly $6 billion, the Ninth Circuit ruled, finding he failed to sufficiently allege Allianz SE itself acted fraudulently.
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June 30, 2025
Catching Up With Delaware's Chancery Court
Delaware's Supreme Court was kept busy this past week with litigants' attempts to challenge its previous decisions, as well as those of Delaware's Court of Chancery, which included an argument that the state's high court incorrectly ruled in favor of energy company Boardwalk Pipeline Partners LP by rejecting the Chancery's decision upholding class claims branding the call-in of public shares unfair. In case you missed it, here's the latest from the Delaware Chancery Court.
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June 30, 2025
Del. Justices Uphold State Sale Of Long-Dormant Stock
Rejecting a doctor's claim that the risk of a state seizure and sale of his long-unchecked stock was "inherently unknowable," Delaware's Supreme Court preserved on Monday a lower court's finding that the statute of limitations barred his attempt to reclaim securities purportedly worth some $600,000 when sold.
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June 30, 2025
Fla. Court Declines To Ax $70M 'Usurious' High-Rise Loan Suit
A Florida federal bankruptcy judge Monday declined to toss a Chapter 11 adversary lawsuit claim that a lender attempted to take ownership of a prized high-rise lot in downtown Miami through a "usurious" $70 million loan default, allowing parties to reargue their positions after an amended complaint was filed.
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June 30, 2025
Blackstone-Backed Cirsa Prices IPO For $2.9B Market Cap
Private equity-backed Spanish casino operator Cirsa Enterprises S.A.U. on Monday launched plans for an initial public offering that would give the company a €2.5 billion ($2.9 billion) market capitalization.
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June 30, 2025
Hong Kong's IPO Surge Creates More Competition For US
Hong Kong led global exchanges on new listings for operating companies in the first half of 2025, partly benefiting from a U.S.-China rift that is prompting more mainland China companies to seek secondary listings in Hong Kong, according to new data released on Monday.
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June 30, 2025
Ripple To Abandon Appeal After NY Judge Rebuffed SEC Deal
Ripple Labs CEO Brad Garlinghouse has said the blockchain firm plans to drop its appeal in its landmark case with the U.S. Securities and Exchange Commission, ending the matter after the New York federal judge overseeing the case refused to sign off on a settlement that would've truncated a court-ordered $125 million penalty.
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June 30, 2025
Justices Let Stand IRS' Summons For Coinbase User's Info
The U.S. Supreme Court rejected Monday a cryptocurrency investor's challenge to an IRS summons for his financial records from the exchange Coinbase, letting stand a First Circuit ruling that upheld limitations on privacy rights for records held by third-party financial institutions.
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June 30, 2025
High Court To Hear Fight Over Investment Fund Suits
The U.S. Supreme Court on Monday agreed to hear a case that could limit the ability of private parties to assert contract violations against investment funds, with one activist investor accusing several closed-end funds of shutting it out of its voting rights.
Expert Analysis
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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.
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Texas Targets Del. Primacy With Trio Of New Corporate Laws
Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
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How AI May Reshape The Future Of Adjudication
As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
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When Legal Advocacy Crosses The Line Into Incivility
As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.
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Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet
Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.
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2 NY Rulings May Stem Foreign Co. Derivative Suits
In recent decades, shareholders have challenged the internal affairs doctrine by bringing a series of derivative actions in New York state court on behalf of foreign corporations, but the New York Court of Appeals' recent rulings in Ezrasons v. Rudd and Haussmann v. Baumann should slow that trend, say attorneys at Cleary.
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Ore. Coinbase Case Charts New Path For State Crypto Suits
Oregon's recent lawsuit against Coinbase serves as a reminder for the crypto industry that not all states will simply defer to the U.S. Securities and Exchange Commission's evolving stance on crypto-assets, highlighting why stakeholders should proactively assess the risks posed by state-level litigation and develop strategies to address distinct challenges, say attorneys at Steptoe.
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Series
Volunteering At Schools Makes Me A Better Lawyer
Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.
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Fed's Crypto Guidance Yank Could Drive Innovation
The Federal Reserve Board's recent withdrawal of guidance letters brings regulatory consistency and broadens banks' ability to innovate in the crypto-asset space, but key distinctions remain between the Fed's policy on crypto liquidity and that of the other banking regulators, says Dan Hartman at Nutter.