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Brokers Provide FINRA With Regulatory Wish List

By Jessica Corso

The brokerage industry is calling for the Financial Industry Regulatory Authority to change the way it conducts in-house disciplinary proceedings, to loosen rules on customer communication and to limit which firm employees must register with the financial regulator as it considers modernizing its rules and regulations.

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Inovalon Investors' Revived Chancery Suit Moves Forward

By Katryna Perera

A Delaware chancellor sent into discovery investors' claim that Inovalon didn't properly disclose that a consortium of private equity firms that bought the healthcare data company paid $400 million in fees to its financial adviser before the transaction, dismissing some claims but finding it is "reasonably conceivable" that the suit's defendants acted in bad faith.

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JPMorgan Can't Exit Cash Sweep Rates Suit, Consumers Say

By Katryna Perera

Consumers who accused JPMorgan Chase of underpaying the interest on their cash sweep accounts urged a New York federal judge on Thursday not to let the bank escape the suit, asserting several arguments, including that their contract claims are "anchored" to specific provisions in the parties' written agreement.

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Chancery Tags AstraZeneca Unit For $180M 'Expectation' Loss

By Jeff Montgomery

Rejecting calls for a $755 million award, a Delaware vice chancellor ruled late Wednesday that a biopharmaceutical company's shareholders are due $180.9 million in post-merger "expectation damages" plus interest after an AstraZeneca PLC unit's failure to reasonably pursue an acquired drug prospect.

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Ex-JPM Trader Warns Of 'Pressing Need' For DOJ Records

By Jon Hill

A former U.K.-based JPMorgan trader has urged a Washington, D.C., federal judge to rule on his bid for access to investigative records from a U.S. market manipulation case that he beat in 2018, saying continued delays could hurt him in a fast-approaching related proceeding in Brazil.

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'My Big Coin' Operators To Pay $26M To End CFTC Claims

By Sydney Price

The Commodity Futures Trading Commission announced that the alleged orchestrators of the My Big Coin digital asset fraud scheme that swindled over $6 million from 28 investors will hand over $25.7 million to end claims against them.

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Crypto Investor Says Trading Education Firm Was A Fraud

By Aislinn Keely

A Denver business set up to provide investment training services was hit with a lawsuit from a Florida resident accusing it and an affiliated crypto exchange of bilking him out of hundreds of thousands of dollars while purportedly teaching him how to trade digital assets.

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Holmes Seeks 2 Year Cut, Commits To Criminal Justice Work

By Hailey Konnath

Elizabeth Holmes has asked a California federal judge to knock two years off her 11-year prison sentence, arguing she's eligible for the adjustment under sentencing guidelines and has spent her time behind bars tutoring and advocating for her fellow prisoners.

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Conn. Adviser Banned After $9.2M Fraud, Prison Sentence

By Ryan Harroff

The Connecticut Department of Banking banned an investment adviser from practicing his craft in the Constitution State following his sentence to 87 months in prison and a $9.2 million restitution payment for a Georgia fraud case.

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Domino's Seeks To Shake Suit Over Performance Statements

By Isaac Monterose

Domino's Pizza Inc. pushed for the dismissal of a proposed securities class action alleging the pizza giant knew that a major franchisee would underperform when the company made positive, forward-looking statements to shareholders, arguing that the claims are based on assertions over which the chain can't be sued.

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Redfin Investor Seeks $450K In Fees In Merger Disclosure Suit

By Sydney Price

A Redfin investor asked a Washington federal judge to award $450,000 in legal fees to Monteverde & Associates PC and Wohl & Fruchter LLP, claiming his lawsuit was beneficial to shareholders despite the court's decision to deny his preliminary injunction request to postpone an investor vote.

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GM Case Highlights New Trends In AI-Related Securities Suits

Bold company statements about artificial intelligence have resulted in a rise in AI-related securities litigation, and a recent Michigan federal court decision in In Re: General Motors Co. Securities Litigation illustrates how courts are analyzing these AI-based claims and applying traditional securities concepts to new technologies, say attorneys at Cooley.

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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.

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Attacks On Judicial Independence Tend To Manifest In 3 Ways

Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.

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In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

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UK Litigation Roundup: Here's What You Missed In London

By Max Austin

This past week in London has seen Tottenham Hotspur FC kick off against Manchester United co-owner Ineos Automotive following a soured sponsorship deal, Acer and Nokia clash over patents for video coding technology, and two investors reignite litigation against the founders of an AI exercise bike business that unlawfully pocketed $1.2 million in investments to fund their own lifestyles. Here, Law360 looks at these and other new claims in the U.K.

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IRS, Law Firm Settle $790K Worker Credit Refund Suit

By Anna Scott Farrell

The Internal Revenue Service settled a lawsuit seeking more than $790,000 in pandemic-era worker tax credits by a law firm that had claimed the agency was delaying paying out, according to a dismissal order Friday by a Pennsylvania federal court.

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7 Willkie Partners Join Cooley Over Trump EO Deal

By Aebra Coe

Seven partners have left Willkie Farr & Gallagher LLP, including both managing partners of the firm's San Francisco office, to join Cooley LLP, reportedly over their former employer's decision to strike a deal with the Trump administration related to a potential executive order.

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Jackson Walker, Ex-Judge Facing Class Action Over Romance

By Catherine Marfin

A former bankruptcy judge and Jackson Walker LLP have been hit with another lawsuit over the judge's secret romance with a former firm partner, this time a proposed class action from a group of bondholders of financial company GWG Holdings Inc.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

Compliance experts say corporate leaders with business interests south of the border are worried about possible terrorism-related charges under the Trump administration for inadvertently working with the cartels. Meanwhile, the head of Glass Lewis pushed back against allegations from some lawmakers concerning the firm's "expansive, opaque and ideologically driven influence" on companies. These are some of the stories in corporate legal news you may have missed in the past week.​

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Beltway Moves: Torridon Law, MoFo, V&E

By Alison Knezevich

Former Secretary of State Mike Pompeo headed to Torridon Law PLLC this week in one of the latest high-profile moves in the Washington, D.C., legal industry over the first half of June.

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Grassley Budget Bill Calls For More Use Of Injunction Bonds

By Courtney Bubl茅

Sen. Chuck Grassley, R-Iowa, chair of the Senate Judiciary Committee, has released his portion of the budget reconciliation text, which would bolster the use of injunction bonds to raise the stakes for plaintiffs seeking to halt White House initiatives.

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Law360's Legal Lions Of The Week

By Kevin Penton

The Institute for Justice, Mitchell Shapiro Greenamyre & Funt LLP, Spears & Filipovits LLC and attorney Lisa Lambert lead this week's edition of Law360 Legal Lions, after the U.S. Supreme Court held that the Constitution's supremacy clause cannot shield the federal government from Federal Tort Claims Act suits.

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Akerman Seeks To Move Malpractice Suits From Medical Cos.

By Madison Arnold

Akerman LLP has asked to have two malpractice cases from medical laboratories moved from Palm Beach County to Miami-Dade County, where the firm's related unpaid fees case against Rennova Health Inc. is being litigated.

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Former NJ Deputy AG Claims Office Fired Him For His ADHD

By Beverly Banks

A former deputy attorney general who worked on environmental cases for New Jersey accused the state of retaliating against him when he sought accommodations for attention deficit hyperactivity disorder and later terminated him for his disability.

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2nd Circ. Won't Rehear Trump Appeal Of $5M Assault Verdict

By Cara Salvatore

The full Second Circuit refused Friday to revisit President Donald Trump's challenge to writer E. Jean Carroll's $5 million sexual assault finding against him, with two judges dissenting.

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Ex-Attorney Cops To Tax Evasion In Massachusetts

By Anna Scott Farrell

A former attorney pled guilty to tax evasion in a Massachusetts federal court Friday after prosecutors accused him of transferring money to his wife to hide his earnings and using his business accounts to pay for guns and jewelry.

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Wash. High Court Suspends Atty Amid Delays In Bar Probe

By Rachel Riley

The Washington State Supreme Court has suspended an Evergreen state attorney's legal license, at the state bar association's request, for allegedly stalling disciplinary investigations into her work representing student families in two federal lawsuits against school districts.

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The Law Firm Loophole: How Debt Cos. Snare NC Consumers

By Daniel Connolly

A view of Carolina Legal Services' website as it appeared in 2019. The law firm has since closed. (Obtained via the Wayback Machine, a project of the Internet Archive.)

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