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Securities

  • May 01, 2025

    FINRA Fines Interactive Brokers Over Complaint Reporting

    The Financial Industry Regulatory Authority announced online broker-dealer Interactive Brokers LLC will pay $400,0000 to settle claims it failed to report regulatory complaints and customer grievances regarding the functionality of its virtual platform to FINRA over an 11-year period.

  • May 01, 2025

    Fla. Panel Reverses Default Judgment In Prized Horses Suit

    A Florida appeals court Wednesday reversed a default judgment against a show horse owner in a dispute with investors, ruling that the court jumped the gun on the judgment after learning the owner faked brain cancer treatment to get preferred hearing dates.

  • May 01, 2025

    Ex-FirstEnergy Execs Object To Possible Sanctions Order

    Two former FirstEnergy Corp. executives indicted over their alleged roles in a $1 billion bribery scandal objected Thursday to the possibility they could be sanctioned for failing to produce certain information in a civil suit brought by FirstEnergy investors, calling language in a special master's report "inappropriate" and potentially prejudicial.

  • May 01, 2025

    Chancery Finds Contract Bars Appeal In Med Co. Merger

    Private equity-tilted limited liability company contract terms beat minority investor challenges to the fairness of the $8.9 billion merger in January 2023 that joined Summit Health-CityMD and VillageMD, a Delaware vice chancellor ruled late Wednesday.

  • May 01, 2025

    High Court Urged To Skip $272M Hertz 'Solvent Debtor' Appeal

    Wells Fargo has urged the U.S. Supreme Court to reject Hertz's appeal of a Third Circuit ruling that the car rental giant owes $272 million in make-whole payments and interest to noteholders following a Chapter 11 case it launched in 2020.

  • May 01, 2025

    Generator Co. Wants Plug Pulled On COVID-Era Investor Suit

    Power generator maker Generac Holdings Inc. asked a Wisconsin federal judge to permanently toss an investor suit over the company's alleged failure to keep up with a surge in business during the COVID-19 pandemic, arguing the proposed class repeats arguments about Generac's sales disclosures that were previously dismissed.

  • May 01, 2025

    PetroSaudi Insists Pause Not Warranted In $380M Award Suit

    A PetroSaudi unit continues fighting the Trump administration's bid to pause litigation to seize a $380 million arbitral award while related proceedings in Switzerland play out, saying a California federal judge has already denied its stay request once before.

  • May 01, 2025

    Del. Justices OK Mid-Case Appeal In Paramount Doc Suit

    Delaware's Supreme Court on Wednesday approved a mid-case review for a Paramount Global stockholder suit seeking books and records on the company's proposed $8 billion tie-up with Skydance Media.

  • May 01, 2025

    AT&T Win Is FDIC's Loss On In-House Cases, 5th Circ. Told

    A banker challenging the Federal Deposit Insurance Corp.'s use of in-house proceedings to level a fraud judgment against him told the Fifth Circuit that its recent decision overturning a $57 million Federal Communications Commission fine against AT&T confirms that the FDIC cannot rely on a "public rights" exemption to impose fines without a jury trial.

  • May 01, 2025

    4th Circ. Affirms Ex-Crypto COO's Fraud Conviction

    The Fourth Circuit found no error in a former cryptocurrency executive's conviction for fraud and conspiracy related to his time working at a foreign currency and cryptocurrency trading investment firm that the panel said was actually just a Ponzi scheme that never made any trades.

  • April 30, 2025

    House GOP Bill To Cut Ƶ Budget, Audit Board Clears Panel

    The U.S. House Financial Services Committee on Wednesday approved Republican budget legislation that would strip most funding from the Consumer Financial Protection Bureau and wind down an independent audit regulator for public companies.  

  • April 30, 2025

    SEC Says $2.7M Ponzi-Like Scheme Targeted Elderly Koreans

    The U.S. Securities and Exchange Commission has sued a Washington woman and a company she controls, alleging she fraudulently raised $2.7 million from at least 33 investors, including elderly Korean-Americans, gaining their trust by using her family relationships and affiliation as a member of their community, and then gambling some of those funds away.

  • April 30, 2025

    Tariffs, FCPA Enforcement Pause Heighten Bribery Risk

    President Donald Trump's decision to ratchet up tariffs and lower the guard on antibribery enforcement creates heightened risks for multinational companies, as employees potentially face pressure to avoid costly tariffs while conceiving there are fewer risks in going around the law to do so.

  • April 30, 2025

    Del. Justices Mull 'Deemed' Phrase In AMC Stock Dilution Suit

    The meaning of "deemed to be issued" was the focus of a Wednesday hearing before the Delaware Supreme Court in a case involving AMC and preferred stockholders who say their shares' value was wrongly reduced last year in a deal that settled a hotly contested share conversion and reverse split.

  • April 30, 2025

    Trade Desk Sued In Del. For Docs On Nevada Move

    A stockholder of formerly Delaware-chartered branding and marketing venture The Trade Desk Inc. sued on Wednesday in the First State's Court of Chancery for access to company records, citing concerns that the business rechartered in Nevada to derail challenges to its dual-class share structure.

  • April 30, 2025

    Cos. Must Plan For China-Taiwan Risks, Ex-Trump Official Says

    A former U.S. Treasury Department official warned Wednesday that U.S. firms should take a serious look at their business exposure to China and develop contingency plans in the event the country invades Taiwan, saying an escalation in the conflict between the U.S. and China would have devastating effects globally.

  • April 30, 2025

    SEC Says Bond Trade Business Was $91M Ponzi Scheme

    The U.S. Securities and Exchange Commission has accused three Texas residents of operating a Ponzi-like scheme that raised at least $91 million from over 200 investors disguised as an international bond-trading business.

  • April 30, 2025

    Citadel Securities Gives SEC Regulatory Wish List

    Citadel Securities LLC released a white paper Wednesday that lays out policy recommendations for the U.S. Securities and Exchange Commission and the exchanges it regulates, calling on the agency to address concerns tied to secretive trading rooms as well as 24-hour buying and selling.

  • April 30, 2025

    Activant Unit Seeks $7.5M Fee After $37M Bolt Suit Win

    An Activant Capital Group fund has petitioned Delaware's Court of Chancery to approve a $7.5 million company-paid corporate benefit fee, citing a successful battle for cancellation of more than $37 million in Bolt Financial Group shares held by a controller who defaulted on a more-than $30 million company-guaranteed loan.

  • April 30, 2025

    6 Legal Teams Launch Bids To Lead Rocket Co. Investor Suit

    Six legal teams have submitted bids to represent a proposed class of investors in a suit alleging aerospace company Rocket Lab USA Inc. concealed issues that might affect its timeline for test-launching its Neutron Launch Vehicle.

  • April 30, 2025

    Feds Barred From Reviving 'Unlawful' Tornado Cash Sanctions

    A Texas federal judge has permanently barred the U.S. Department of the Treasury from enforcing its now-dissolved sanctions on crypto mixer Tornado Cash after the advocates who challenged the designation argued the government's removal of the sanctions wasn't enough.

  • April 30, 2025

    Extradited Fund Manager Admits To $3.4M Fraud Scheme

    The former manager of a Connecticut investment fund, who spent almost a year in custody in South America, pled guilty to wire fraud and money laundering charges in a scheme prosecutors say swindled $3.4 million from investors who thought he was running a conservative hedge fund with consistent returns.

  • April 29, 2025

    Acadia Investors Seek Partial Win, Sanction In Healthcare Suit

    Investors suing behavioral health care provider Acadia Healthcare Co. have asked a federal judge to find that they relied on certain alleged misrepresentations before investing in the company after previously moving for sanctions over allegations that the company systematically destroyed pertinent records to stymie their understaffing claims.

  • April 29, 2025

    Deal Terms An Issue In $60M Mortgage Loan Sale Con Case

    A Washington federal judge suggested on Tuesday that she might hold off on interpreting the terms of a multimillion-dollar mortgage loan sale agreement at issue in a racketeering suit, since a contractual dispute involving the same deal is slated for a bench trial before her in October.

  • April 29, 2025

    GOP Plan To Shutter Audit Watchdog Could Strain SEC

    Congressional Republicans are renewing the push to get rid of a financial regulator that conservatives have complained is costly and lacks proper oversight, but some former staffers at the Public Company Accounting Oversight Board wonder whether the U.S. Securities and Exchange Commission has the manpower or expertise to take over the board's duties.

Expert Analysis

  • Series

    Playing Rugby Makes Me A Better Lawyer

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    My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.

  • What Broker-Dealers Must Know Before Selling Bitcoin ETPs

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    Interest in bitcoin exchange-traded products is already high, and only expected to grow in light of the incoming Trump administration's pro-crypto stance, but broker-dealers must still consider numerous regulatory requirements before recommending a bitcoin ETP to a client, say Frank Weigand and Justine Woods at Cahill Gordon.

  • Series

    Texas Banking Brief: All The Notable Legal Updates In Q4

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    The fourth quarter of 2024 brought noteworthy developments to the Texas financial services sector, particularly a new state artificial intelligence bill and a Consumer Financial Protection Bureau rule that will affect an outsize number of Texas community banks, says Tyler George at Naman Howell.

  • Cyber Disclosure Is A Mainstay In 2025 SEC Exam Priorities

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    Despite a new administration and a new U.S. Securities and Exchange Commission chair incoming, the SEC's 2025 examination priorities signal that cybersecurity disclosures and risk management practices will remain important due to the growing threat of cyberattacks, says Anjali Das at Wilson Elser.

  • Opinion

    No, Litigation Funders Are Not 'Fleeing' The District Of Del.

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    A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.

  • The Compliance Trends And Imperatives On Tap In 2025

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    The corporate ethics and compliance landscape is rapidly evolving, posing challenges from conflicting stakeholder expectations to technological disruptions, and businesses will need to explore human-centered, data-driven and evidence-based practices, says Hui Chen at CDE Advisors.

  • 5 E-Discovery Predictions For 2025 And Beyond

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    In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.

  • Best Practices To Find Del. Earnout Provisions That Hold Up

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    Recent Delaware earnout litigation illustrates the need for careful drafting and proactive planning to avoid later divergent interpretations of the signed contract, and a series of drafting tips can help, say attorneys at Cozen O'Connor.

  • Climate Disclosure Spotlight Shifts To 2 Calif. Laws

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    With Donald Trump's election spelling the all-but-certain demise of the proposed federal climate disclosure rules, new laws in California currently stand as the nation's only broadly applicable climate disclosure requirements — and their brevity is both a blessing and a curse, say attorneys at Davis Polk.

  • What's Ahead As Transparency Act Comes To A Crossroads

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    Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.

  • UBS Ruling Shows SDNY's Pro-Award Confirmation Stance

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    A New York federal court's recent ruling upholding an arbitration award in Lakah v. UBS, a long-running dispute over a bond debt default, serves as a reminder that New York courts carry a strong presumption toward binding parties to arbitration agreements and enforcing arbitral awards, say attorneys at Mayer Brown.

  • Where Payments Law And Regulation Are Headed In 2025

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    The Trump administration will likely bring significant changes to payments regulations in 2025, but maintaining internal compliance efforts in the absence of robust federal oversight will remain key as state authorities and private plaintiffs step into the breach, say attorneys at Stinson.

  • How Decline Of Deference Will Affect Trump Policymaking

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    An administrative law regime without Chevron deference may limit the Trump administration’s ability to implement new policies in the short term, but ultimately help it in the long term, and all parties with an interest in regulatory changes will have to take a fresh approach to litigation, say attorneys at Covington.

  • 5 Evolving Concerns For Family Offices In 2025

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    Complex regulatory changes and emerging operational risks will force family offices to stay on their toes in 2025, with timely action particularly necessary to address several tax and reporting developments that may affect their investments and business operations, say attorneys at Morgan Lewis.

  • Series

    Ohio Banking Brief: All The Notable Legal Updates In Q4

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    Ohio's banking and financial services sector saw several significant developments in the fourth quarter of 2024, including a landmark Uniform Commercial Code ruling, adjustments to the state's Homebuyer Plus Program and the launch of the state's first women-led bank, says attorney Alex Durst.

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