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Securities
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June 06, 2025
Senate Banking Bill Would Zero Out ÃÛÌÒÊÓÆµ's Fed Funding
U.S. Senate Banking Committee Republicans called Friday for eliminating the Consumer Financial Protection Bureau's Federal Reserve funding as part of their proposal package for the "One Big Beautiful" budget bill, a move that could effectively restructure the agency.
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June 06, 2025
Crypto Holding Co. Can Pursue Counterclaim Against Ex-Exec.
A Puerto Rico-based crypto holding company can pursue a counterclaim against its former president who alleged the company's CEO fraudulently recruited him to the venture and then fired him, a Delaware vice chancellor ruled Friday, finding legal expenses the company incurred are recoverable.
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June 06, 2025
Masimo Fights Ex-CEO's Bid To Ax Suit Over $450M Demand
Masimo Corp. fought back against founder Joe Kiani's motion to dismiss the company's Delaware Chancery Court suit seeking a declaration that he's not due a $450 million payout after his ouster as CEO, arguing that bid is an "improper attempt to evade" the Delaware court's jurisdiction.
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June 06, 2025
Judge Signs Off On SEC Dismissal Of Crypto Promoter Suit
A Texas federal judge signed off on the end of the U.S. Securities and Exchange Commission's case against crypto promoter Ian Balina, resolving the dispute over Balina's promotion of so-called SPRK tokens amid the agency's policy pivot on digital assets.
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June 06, 2025
Fed's Bowman Calls For Oversight Built On 'Pragmatism'
Federal Reserve Vice Chair for Supervision Michelle Bowman on Friday previewed a sweeping industry-friendly agenda to ease burdens on smaller lenders, overhaul supervisory ratings and reevaluate capital rules as the central bank's new top regulator, drawing immediate praise from banking industry groups.
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June 06, 2025
Circle's Smash IPO Could Pave Way For More Crypto Listings
Stablecoin issuer Circle's explosive debut will likely stimulate more crypto listings and possibly jolt the broader pipeline of initial public offerings, capital markets attorneys say.
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June 06, 2025
Truist's Negligence Led To Hackers Hijacking Deal, Firm Says
Delaware-based Rhodunda Williams & Kondraschow LLC is claiming in a new lawsuit that hackers used the law firm's email to hijack a real estate transaction and have funds wired to their account at Truist Financial Corp., which lacked the needed security measures to prevent the alleged fraud.
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June 06, 2025
Chancery Pauses Meta Privacy Suit For EU, Ireland Actions
A Delaware court on Friday paused a pension fund stockholder suit seeking documents on data privacy violations made by Meta Platforms Inc. that led to a €1.2 billion ($1.4 billion) fine from European authorities.
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June 06, 2025
Fox Stockholders Press For Election Suit Docs In Chancery
Attorneys for Fox Corp. shareholders are accusing the company of unjustifiably withholding documents sought in Delaware's Court of Chancery related to a derivative suit over the alleged defamation of vote tabulation companies in the midst of the 2020 election.
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June 06, 2025
Feds Seek 15 Months For Russian Crypto Market Manipulator
A Russian national who pled guilty to manipulating crypto markets through his market-making service says the time he has already served is sufficient punishment, but the government is seeking 15 months in addition to his company's $23 million forfeiture.
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June 06, 2025
Justices Skip Investment Adviser's Appeal Of $32M SEC Win
The U.S. Supreme Court on Friday declined to hear a lawsuit challenging the U.S. Securities and Exchange Commission's disgorgement powers, turning away an appeal brought by an investment adviser who was ordered to pay $32 million after a lower court found that he and his firm defrauded clients.
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June 06, 2025
Execs Hid Jewelry Co. Accounting Issues, Suit Says
Executives of Compass Diversified Holdings have been hit with a derivative shareholder suit in a California federal court for allegedly making misleading statements about the investment firm's financial condition, stemming from accounting irregularities at a jewelry company the firm acquired.
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June 06, 2025
Crypto Groups Want Protections For Developers In House Bill
A coalition of crypto industry groups urged lawmakers and courts to shield developers from certain legal liabilities if their creations do not take hold of customer funds, including by enshrining protections in a proposal to regulate crypto markets that lawmakers continue to debate.
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June 06, 2025
Argentina Tells DC Circ. $391M Award OK Must Be Nixed
Argentina has asked the D.C. Circuit to overturn a lower court decision ordering it to pay a $391 million arbitral award issued following a 15-year-old dispute over the renationalization of the country's state-owned airline.
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June 06, 2025
Buchalter Lands Duane Morris Securities Litigator In SF
Buchalter PC is expanding its litigation team, bringing in a Duane Morris LLP securities litigation ace as a shareholder in its San Francisco office.
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June 06, 2025
Dems Urge FHFA To Halt Trump's Fannie, Freddie Plans
A group of 13 Democratic U.S. senators, along with Sen. Bernie Sanders, urged the Federal Housing Finance Agency to put on hold efforts from President Donald Trump to end government conservatorship for Fannie Mae and Freddie Mac, stating in a letter that reprivatizing the entities "could dramatically increase costs for families seeking to purchase a home."
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June 06, 2025
Gemini Confidentially Files For IPO Amid Crypto Listings Buzz
Crypto exchange Gemini Space Station Inc. said Friday it confidentially filed for an initial public offering, marking a first step toward going public amid growing enthusiasm for crypto-related listings following stablecoin issuer Circle Internet Group Inc.'s blockbuster IPO.
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June 06, 2025
Strategy Raises Nearly $1B In Preferred Stock To Buy Bitcoin
Michael Saylor's Strategy Inc. said Friday it priced an estimated $1 billion initial public offering of preferred stock to bolster its growing stockpile of bitcoin, in a deal represented by Latham & Watkins LLP and placement agents' counsel Davis Polk & Wardwell LLP.
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June 06, 2025
Ex-SDNY Prosecutor Exits Paul Weiss For Jenner & Block
Just months after rejoining Paul Weiss Rifkind Wharton & Garrison LLP, the former U.S. attorney for the Southern District of New York is leaving the firm to join Jenner & Block LLP.
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June 06, 2025
Mayer Brown Adds Partner To NY Corporate, Securities Team
Aideen Brennan, a former mergers and acquisitions and private equity senior managing associate at Sidley Austin, has joined Mayer Brown's global corporate and securities practice as a partner in New York.
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June 05, 2025
'Sparse' OPM Record On Mass Firings Backs Win, Unions Say
A "sparse and self-serving" record provided by the U.S. Office of Personnel Management still shows the agency unlawfully directed federal agencies to fire probationary employees en masse, so a California federal court can reach a final decision now and "unwind" those terminations, a coalition including unions and advocacy groups said Thursday.
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June 05, 2025
FINRA Panel Awards More Than $2M Over Mismanaged Stocks
U.S. Capital Wealth Advisors and two representatives must pay more than $2 million and rescind the sale of thousands of shares of Microsoft and Google over claims that they sold off a client's blue-chip investments and told her to invest heavily in an allegedly fraudulent Indian media company, a Financial Industry Regulatory Authority arbitration panel has held.
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June 05, 2025
Calif. Adviser, CEO To Pay $21M To End SEC Theft Claims
A California investment adviser and its CEO have agreed to pay over $21 million to end U.S. Securities and Exchange Commission claims they misappropriated over $15.3 million from a cannabis industry client — including $4.6 million used to buy a home — and overstated its assets under management in regulatory filings.
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June 05, 2025
SEC Wants 8th Circ. To Remand 'Dealer' Suit After Dismissals
The U.S. Securities and Exchange Commission asked the Eighth Circuit on Thursday to send a $12 million case it won against Carebourn Capital back to the district court in light of its recent decision to take a less expansive approach to the definition of "securities dealer."
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June 05, 2025
Crypto.com Says Nevada Can't Sue Over Sports Contracts
The derivatives platform owned by Crypto.com on Thursday urged a Nevada federal judge to block the state's gaming regulators from taking action over its sports event contracts, arguing the federal court has already granted similar relief to trading platform Kalshi.
Expert Analysis
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Challenges For Fiduciaries Adding Crypto To 401(k) Plans
As cryptocurrencies gain popularity and their restrictions loosen, investors may become interested in adding crypto options to their retirement plans, but fiduciaries should consider how to balance the increased demand and their obligations under the Employee Retirement Income Security Act, say attorneys at Jenner & Block.
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Opportunities And Challenges For The Texas Stock Exchange
While the new Texas Stock Exchange could be an interesting alternative to the NYSE and the Nasdaq due to the state’s robust economy and the TXSE’s high-profile leadership and publicity opportunities for listings, its success as a national securities exchange may hinge on resolving questions about its regulatory and cost advantages, say attorneys at Norton Rose.
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Energy Order Brings Risks For Lenders And Borrowers Alike
A recent executive order directing the attorney general to submit a report next month with recommendations for halting enforcement of state laws the administration says are hampering energy resources presents risks for lenders and borrowers using state-generated carbon credits, but proactive steps now can help insulate against adverse consequences, say attorneys at Faegre Drinker.
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What's At Stake As Trump Admin Targets Carbon Markets
Trading in greenhouse gas emissions and reductions has long been touted as a way to leverage market forces to tackle climate change cost-effectively, and that theory may be put to the test amid momentous progress and fresh challenges, particularly as the Trump administration takes aim at climate initiatives, say attorneys at DLA Piper.
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Series
Power To The Paralegals: An Untapped Source For Biz Roles
Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.
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The Legal Risks Of US Restrictions On Investments In China
The second Trump administration has continued to embrace a more restrictive economic policy toward China, including an ongoing review of further restrictions on the flow of U.S. capital to China, so early planning and enhanced diligence can reduce exposure to the challenges resulting from further restrictions, say attorneys at Cleary.
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Using Federal Forum Provisions To Nix State Securities Cases
A California appeals court's recent decision in Bullock v. Rivian clarifies that underwriters may enforce federal forum provisions to escape state court Securities Act claims, marking progress in restoring such lawsuits to federal court and reducing the litigation costs arising from duplicative state court litigation, say attorneys at Paul Weiss.
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Series
Playing Poker Makes Me A Better Lawyer
Poker is a master class in psychology, risk management and strategic thinking, and I’m a better attorney because it has taught me to read my opponents, adapt when I’m dealt the unexpected and stay patient until I'm ready to reveal my hand, says Casey Kingsley at McCreadyLaw.
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Does R-Squared Have A Role In Event Study Analysis?
With 2024 marking the second consecutive year to experience an increase in securities class action filings, determining the reliability of event study models is of utmost importance, but it's time to reconsider the traditional method of doing so, say analysts at StoneTurn Group.
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Opinion
Why It's Time To Retire The Efficient Market Hypothesis
As agentic artificial intelligence systems increasingly affect financial markets, the efficient market hypothesis no longer offers a viable foundation for legal and regulatory engagement, and a new theoretical foundation is needed, say Zachary Brenner, a student at California Western School of Law, and attorney Gary Brenner.
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Avoiding The Risk Of Continued AI-Washing Enforcement
A recent action brought by the U.S. Securities and Exchange Commission and Department of Justice, alleging a software developer defrauded investors by lying about his app’s artificial intelligence capabilities, suggests this administration will continue to target AI washing, so companies should adopt practices to mitigate enforcement risk, say attorneys at Debevoise.
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Cos. Should Review Pay Strategies In Light Of 2025 Tariffs
Companies should think about what they can or should do to ensure the ongoing effectiveness of their compensation plans in light of rising material costs, reduced profit margins, market volatility and other impacts of the Trump administration’s evolving tariff regime, say attorneys at Cooley.
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Key Aspects Of FDIC's Resolution Planning FAQ
The Federal Deposit Insurance Corp.'s recent FAQ on changes to its resolution plan rule ease burdensome requirements for some large institutions and exempt others from discussion of franchise components, making it easier for banks to finalize submissions before the July 1 deadline, say attorneys at Moore & Van Allen.
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Chancery Ruling Raises Bar For Advance Notice Bylaws Suits
The Delaware Court of Chancery's recent ruling in Siegel v. Morse will make it more difficult for plaintiffs to successfully challenge advance notice bylaws before the emergence of an actual or threatened proxy contest, presumably reducing the occurrence of such challenges, say attorneys at Venable.
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DOJ Memo Raises Bar For Imposition Of Corporate Monitors
A recently released U.S. Department of Justice memo, outlining guidance on the imposition of compliance monitors in corporate criminal cases, reflects DOJ leadership’s concerns about scope creep and business costs, but the strategies for companies to avoid a monitorship haven't changed much compared to the Biden era, says James Koukios at MoFo.