ÃÛÌÒÊÓÆµ

The U.S. Senate on Thursday confirmed Jones Day partner Jonathan Gould as Comptroller of the Currency in a 50-45 vote along party lines, marking his return to the agency where he spent more than two years as chief counsel.
Law360
Capital Markets
SATURDAY, JULY 12, 2025

TOP NEWS

jongould.jpg

Senate Confirms Gould As OCC Head

By Sarah Jarvis

The U.S. Senate on Thursday confirmed Jones Day partner Jonathan Gould as Comptroller of the Currency in a 50-45 vote along party lines, marking his return to the agency where he spent more than two years as chief counsel.

Read full article » | Save to favorites »

SEC's Peirce Says Tokenized Security Issuers Must Heed Law

By Tom Zanki

The U.S. Securities and Exchange Commission's Hester Peirce is cautioning market participants that issuers of digital versions of securities, often described as tokenized securities, must comply with federal laws even as they pursue innovation.

Read full article » | Save to favorites »

States Fine Payment Co. Wise $4.2M Over Compliance Lapses

By Sarah Jarvis

Wise has agreed to pay $4.2 million and take various remediating actions to end six states' claims that the global money transfer fintech had inadequate anti-money laundering programs.

Order attached | Read full article » | Save to favorites »

EQUITY

Deals Rumor Mill

SpaceX Seeks Record $400B Valuation, Plus More Rumors

By Tom Zanki

Elon Musk's satellite and rocket maker SpaceX is planning to raise money in a private round that would value the company at a record $400 billion, Starbucks China is seeking bids for a stake sale that could value the chain at $10 billion, plus online fashion giant Shein hopes to salvage its long-awaited IPO by listing in Hong Kong.

Read full article » | Save to favorites »

CRYPTOCURRENCY

Crypto Exec Fights NY Suit, Cites Due Process Violation

By Sydney Price

The CEO of a venture capital firm accused of misleading investors into buying up a crypto token with the help of an endorsement from Argentine President Javier Milei just before it tanked said an attempt by New York to exercise jurisdiction over him would be unconstitutional.

Memorandum attached | Read full article » | Save to favorites »

DEBT

Ex-Bank CEO Depo Blocked On 5th Amendment Concerns

By Carolina Bolado

A Florida federal judge Thursday blocked the deposition of a former Puerto Rican bank CEO in a suit alleging a $28 million fraud while a related criminal case is pending against him, but suggested the plaintiffs move forward requesting other documents and depositions that would not implicate the CEO's Fifth Amendment right.

3 documents attached | Read full article » | Save to favorites »

COMMODITIES

Trump Says 50% Copper Tariff Will Begin Aug. 1

By Natalie Olivo

President Donald Trump said his new 50% tariff on copper imports will take effect Aug. 1, citing national security concerns.

Read full article » | Save to favorites »

LITIGATION

11th Circ. Tosses Satellite Co.'s $829K Finder's Fee Suit

By Catherine Marfin

The Eleventh Circuit said Wednesday that a $829,000 award in favor of a satellite technology company should be tossed, writing that a Florida federal court didn't have jurisdiction over the case.

Opinion attached | Read full article » | Save to favorites »

Brookfield Accuses Lima Of Smear Tactics In Contract Feud

By Caroline Simson

An ugly, yearslong fight over $200 million in arbitral awards relating to a Peruvian toll road project turned darker this week after asset manager Brookfield argued that Lima was trying to "smear" its reputation in connection with the gruesome death of a key witness in a related bribery trial.

2 documents attached | Read full article » | Save to favorites »

VC Giant Andreessen Rips Del. Courts, Plans Move To Nev.

By Rae Ann Varona

Venture capital giant Andreessen Horowitz on Wednesday announced plans to reincorporate in Nevada, saying that it was no longer a "no-brainer" to launch a company and incorporate in the historically corporate-friendly state of Delaware.

Read full article » | Save to favorites »

EXPERT ANALYSIS

Gauging The Risky Business Of Business Risk Disclosures

With the recent rise of securities fraud actions based on external events — like a data breach or environmental disaster — that drive down stock prices, risk disclosures have become more of a sword for the plaintiffs bar than a shield for public companies, now the subject of a growing circuit split, say attorneys at A&O Shearman.

Read full article » | Save to favorites »

Capital One Deal Approval Lights Up Path For Bank M&A

The federal banking regulators' recent approval of Capital One's acquisition of Discover signals the agencies' willingness to approve large transactions and a more favorable environment generally for bank mergers under the Trump administration, say attorneys at Arnold & Porter.

Read full article » | Save to favorites »

Series

Playing The Violin Makes Me A Better Lawyer

Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.

Read full article » | Save to favorites »

LEGAL INDUSTRY

Dems Say 3rd Circ. Nominee Urged DOJ To Ignore Courts

By Courtney Bublé

Senate Democrats on the Judiciary Committee on Thursday unveiled 150 pages of documents, which they say substantiate whistleblower allegations against Third Circuit nominee Emil Bove and raise concerns about his conduct during his tenure at the U.S. Department of Justice.

4 documents attached | Read full article » | Save to favorites »

Another Atty Sanctioned For Allegedly Hallucinated Case Law

By Andrea Keckley

A Florida judge on Wednesday issued a blistering order against an attorney who became the latest of many to face sanctions over filings with case law suspected of being hallucinated by generative artificial intelligence, ordering him to take AI ethics courses and repay opposing counsel's fees.

Order attached | Read full article » | Save to favorites »

'Admonition' But No More Amazon Penalty For Hidden Docs

By Bryan Koenig

A federal judge in Washington state took Amazon.com to task Thursday for "bad faith" material review that labeled tens of thousands of documents as covered by attorney-client privilege despite involving no legal advice, but the judge, who is presiding over the Federal Trade Commission's Prime subscriptions case against the company, opted against further punishment.

Order attached | Read full article » | Save to favorites »

Trump Taps Holland & Hart Partner For Montana Bench

By Lauren Berg

President Donald Trump announced on social media Thursday he has chosen a Holland & Hart LLP partner and veteran government attorney to serve on the federal bench in Montana.

Read full article » | Save to favorites »

Senate Tees Up 6th Circ. Nom Vote As 1st Of 2nd Trump Term

By Courtney Bublé

The first judicial confirmation of the second Trump administration was readied on Thursday, with the U.S. Senate voting 51-43 to end debate on the nomination of Whitney Hermandorfer to the Sixth Circuit.

Read full article » | Save to favorites »

Judge Blocks Trump's Birthright Citizenship Order Nationwide

By Britain Eakin

A New Hampshire federal judge on Thursday issued a nationwide block of President Donald Trump's executive order limiting birthright citizenship, and granted certification to a nationwide class that will cover all affected children born in the U.S.

Read full article » | Save to favorites »

Analysis

5 Employee Benefits Takeaways On The GOP Tax Bill

By Kellie Mejdrich

Congressional Republicans' sweeping tax and policy bill, which President Donald Trump sought and then signed, contains multiple provisions that caught the attention of employee benefits and executive compensation attorneys, including new changes to high-deductible health plans and an employer-side deduction limit affecting highly compensated employees. Here are five takeaways from employee benefits and executive compensation attorneys on what's in — and out of — the GOP megabill.

Bill attached | Read full article » | Save to favorites »

Promo that reads Law360 400 Promo that reads 2025 Law360 Titans of the Plaintiffs Bar

LAW FIRMS IN TODAY'S NEWS

A&O Shearman

Advisors LLC

Arnold & Porter

Boies Schiller

Covington & Burling

Davis Wright Tremaine

Diaz Reus

Estrella LLC

Foley & Lardner

Greenberg Traurig

Groom Law Group

Holland & Hart

Homer Bonner

Hoppin Grinsell

Hueston Hennigan

Jones Day

Krinzman Huss

Markowitz Ringel

McDermott Will & Emery

Morgan & Morgan

Morrison & Foerster

Rivero Mestre

Seyfarth Shaw

Skadden Arps

White & Case

COMPANIES IN TODAY'S NEWS

AST & Science LLC

Adidas AG

Amalgamated Bank

Amazon.com Inc.

American Civil Liberties Union

American Civil Liberties Union of Massachusetts

American Civil Liberties Union of New Hampshire

Andreessen Horowitz LLC

Asian American Center for Advancing Justice

Bitfury Group Ltd.

BlackRock Inc.

Bloomberg LP

Brookfield Infrastructure Partners LP

Capital One Financial Corp.

Credit Suisse Group AG

Discover Bank

Discover Financial Services Inc.

Financial Times Group Ltd.

Harvard University

Hillhouse Capital Group

Hong Kong Exchanges and Clearing

International Centre for Settlement of Investment Disputes

Joe & the Juice

KKR & Co. Inc.

Keryx Biopharmaceuticals Inc.

LinkedIn Corp.

LionTree LLC

London Stock Exchange Group PLC

Los Angeles Times

M&T Bank Corp.

Meta Platforms Inc.

Morgan Stanley

NAACP Legal Defense & Educational Fund Inc.

Odebrecht SA

PYMNTS

Promontory Financial Group LLC

Root Inc.

SIFMA

Space Exploration Technologies Corp.

Starbucks China

Starbucks Corp.

Tellabs, Inc.

Tesla Inc.

The Carlyle Group Inc.

The Goldman Sachs Group Inc.

TripAdvisor Inc.

Washington & Lee University

Yum Brands Inc.

GOVERNMENT AGENCIES IN TODAY'S NEWS

China Securities Regulatory Commission

Consumer Financial Protection Bureau

Department of Financial Protection & Innovation

Executive Office of the President

Federal Deposit Insurance Corp.

Federal Reserve System

Federal Trade Commission

International Chamber of Commerce

National Labor Relations Board

New York Department of Financial Services

Office of the Comptroller of the Currency

Supreme Court of Nevada

Tennessee Attorney General's Office

U.S. Court of Appeals for the Eleventh Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Court of Appeals for the Sixth Circuit

U.S. Department of Commerce

U.S. Department of Defense

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. Department of State

U.S. District Court for the District of Columbia

U.S. District Court for the District of Oregon

U.S. District Court for the Southern District of Florida

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Washington

U.S. District Court of the District of New Hampshire

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the District of Montana