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Securities

  • September 10, 2025

    Airbnb Presses Bid To Toss Conservative Shareholders' Suit

    Airbnb Inc. is urging a Delaware federal judge to reject a lawsuit from two conservative institutional shareholders, arguing that delivery of the groups' shareholder proposals to the company's mail room doesn't suggest executives sought to exclude the submissions from the company's 2025 proxy materials.

  • September 10, 2025

    3rd Circ. Questions NJ's Bid To Block Kalshi's Sports Bets

    The Third Circuit seemed prepared on Wednesday to block New Jersey from enforcing a sports gambling ban on trading platform KalshiEx, with at least one judge arguing the U.S. Commodity Futures Trading Commission's authority to regulate the event contracts space "seems quite broad."

  • September 10, 2025

    FINRA Fines Jefferies $1M Over Inaccurate Reserve Math

    Financial services giant Jefferies LLC has been fined $1 million by the Financial Industry Regulatory Authority after its improper reserve calculations caused the firm to file a number of inaccurate reports, it said.

  • September 10, 2025

    Meet The Attys Now Fighting Judge Newman's Suspension

    Federal Circuit Judge Pauline Newman's main attorney in the fight against her suspension from the appeals court has departed from the New Civil Liberties Alliance, leaving his former colleagues to head the litigation.

  • September 10, 2025

    Trump To Take Fed Gov. Cook's Removal Case To DC Circ.

    President Donald Trump on Wednesday told a Washington, D.C., federal judge that the government will appeal the judge's decision granting a temporary win to Federal Reserve Gov. Lisa Cook in her challenge to the president's attempt to remove her from her position.

  • September 10, 2025

    Trump's Pick For Fed Board Seat Moves Ahead To Full Senate

    The U.S. Senate Banking Committee on Wednesday endorsed President Donald Trump's bid to install Stephen Miran, a top White House economist, at the Federal Reserve, advancing his nomination over Democratic objections that he would be a Trump loyalist rather than an independent central banker.

  • September 10, 2025

    DOJ Must Hand Over Documents To Ex-JPMorgan Trader

    A Washington, D.C., federal judge has ruled that the U.S. Department of Justice did not properly withhold portions of documents that reference grand jury exhibits from a former JPMorgan trader that were part of a market manipulation case that he beat in 2018, and ordered the DOJ to turn over the documents in question.

  • September 10, 2025

    Del. Justices Urged To Reverse Ad Co. Note Conversion Nix

    An investor group attorney told three Delaware Supreme Court justices Wednesday that the Court of Chancery wrongly found last year that advertising tech company Vistar Media Inc. had a right to involuntarily cash out millions worth of matured investor notes despite noteholder claims their agreement never allowed the move.

  • September 10, 2025

    SEC Taps Gibson Atty To Head Corporation Finance Division

    The U.S. Securities and Exchange Commission on Wednesday named the co-chair of Gibson Dunn & Crutcher LLP's securities regulation practice as the new leader of its Division of Corporation Finance, which is responsible for writing rules and providing guidance to publicly traded companies on shareholder disclosure matters, among other things.

  • September 10, 2025

    Molson Coors Kept Subpar Fund In $2B 401(k) Plan, Suit Says

    Molson Coors kept a risky and poorly performing fund in its nearly $2 billion employee 401(k) plan, costing plan participants millions of dollars in retirement savings, a former worker for the brewing giant said in a proposed class action in Wisconsin federal court.

  • September 10, 2025

    Kirkland Adds Fintech Regulatory Partner From McDermott

    Kirkland & Ellis LLP has enhanced its fintech regulatory compliance capabilities in New York with the addition of an experienced corporate partner who joins the firm from McDermott Will & Schulte.

  • September 09, 2025

    Fed Reserve Gov. Cook Wins Removal Reprieve For Now

    Federal Reserve Gov. Lisa Cook, for now, can stay on the Fed's board while she challenges President Donald Trump's attempt to strip her of her position, a D.C. federal judge ruled late Tuesday, saying Cook has "made a strong showing" that her purported removal was likely illegal.

  • September 09, 2025

    Block Beats Investor Action Over 2021 Customer Data Breach

    A Manhattan federal judge Tuesday knocked out consolidated litigation alleging Block's stock price plummeted after the financial technology company dilly-dallied disclosing a 2021 data breach stemming from a former employee's alleged theft of customer information, saying the complaint doesn't allege Block made misleading statements or knew it was misleading investors.

  • September 09, 2025

    Investor Tells Texas Justices UDF Claims Aren't Derivative

    The Texas Supreme Court on Tuesday pressed an alternative investment firm to explain how its suit against an adviser to a fund at the center of a $100 million, decadelong Ponzi scheme would not be classified as a derivative action, asking what distinct injury allows the firm to sue individually.

  • September 09, 2025

    Ex-SEC Trading And Markets Special Counsel Joins Skadden

    Skadden Arps Slate Meagher & Flom LLP has added a former U.S. Securities and Exchange Commission attorney to its white collar defense and regulatory team in its Washington, D.C., office, the firm announced Tuesday.

  • September 09, 2025

    5th Circ. Says Jarkesy Doesn't Doom OCC Enforcement Action

    A Fifth Circuit panel has upheld industry bans and $250,000 fines against two former top executives of a failed Texas bank, rejecting their bid to overturn an Office of the Comptroller of the Currency enforcement order, finding that the OCC's in-house proceedings and ordered sanctions did not violate the executives' constitutional right to a jury trial.

  • September 09, 2025

    Ariz. Developer, Son Get Prison For $280M Sports Park Fraud

    An Arizona developer and his son were both sentenced to prison Tuesday for deceiving investors into sinking $280 million into a Phoenix-area sports park by forging documents and inflating revenue projections for the facility, which entered bankruptcy soon after it opened.

  • September 09, 2025

    Private Fund Adviser To Pay $9.7M To End SEC Suit

    The U.S. Securities and Exchange Commission announced on Tuesday that a real estate-focused Colorado private fund adviser and his two management firms would pay $9.7 million to settle claims of defrauding investors with misrepresentations, which include concealing conflicts of interests in proposed buyout transaction requests he sent to investors.

  • September 09, 2025

    DC Says Crypto ATM Operator Profits Off Senior Scams

    Athena Bitcoin, one of the country's largest operators of so-called bitcoin automated teller machines, has been sued by the D.C. attorney general for allegedly charging undisclosed fees on deposits it knew were often the result of scams, for failing to implement adequate anti-fraud measures, and for refusing to refund scam victims.

  • September 09, 2025

    SEC Sued To Lift Private Market Investment Cap

    A U.S. Securities and Exchange Commission regulation that prohibits individuals making less than $200,000 a year from investing in the private markets is unconstitutionally discriminatory, according to a lawsuit launched against the agency in Texas federal court.

  • September 09, 2025

    CFTC Fines Colo. Trader Over Futures Market Spoofing Claim

    The U.S. Commodity Futures Trading Commission announced Tuesday that a Colorado man has agreed to pay $200,000 to settle allegations that he spoofed a pair of futures markets on the Chicago Mercantile Exchange.

  • September 09, 2025

    Coinbase Vendor Called 'Major' Cog In 'Insider Bribery' MDL

    A Manhattan federal judge said Tuesday that a Texas-based Coinbase vendor called TaskUs will be a "major participant" in multidistrict litigation centralized in New York over allegations that thousands of Coinbase customers were victimized in a bribery-fueled data compromise.

  • September 09, 2025

    Fund Managers, Firms Owe SEC $27.6M After Jury Trial Loss

    Two men and their companies owe the U.S. Securities and Exchange Commission $27.6 million in disgorgement, interest and fines after a Wisconsin jury found they violated federal securities law with an offering that raised $53 million through "largely fictitious" gains in a fund valued in part on a gem and mineral collection.

  • September 09, 2025

    Azure Power Investors Get Final OK Of $23M Settlement

    A New York federal judge granted final approval to a $23 million settlement between India-based solar energy company Azure Power and investors accusing it of misrepresenting its compliance with anti-corruption and anti-bribery laws, and the methods through which it won bids for projects.

  • September 09, 2025

    Why SEC, CFTC Crypto Rules 'Sprint' Could Be A Marathon

    The White House-backed push to entice the crypto industry's return to the U.S. with clearer rules is off to a quick start, but experts say the process could drag on longer than anticipated as regulators navigate competing interests of embracing the evolving digital assets market and protecting consumers.

Expert Analysis

  • Series

    Performing As A Clown Makes Me A Better Lawyer

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    To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.

  • A Guide To Permanent Capital Vehicles As Access Widens

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    Recent regulatory and legislative actions are making it easier for retail investors to access permanent capital vehicles like closed-end, interval, tender offer and open-end funds, which each offer distinct advantages that are important to review, say attorneys at Mayer Brown.

  • How Dfinity Timeliness Ruling Can Aid Crypto Issuers

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    A California federal court's recent dismissal of a class action against Dfinity, holding that the claims were time-barred by the Securities Act's three-year statute of repose, provides a useful defense for cryptocurrency issuers, which often solicit investments years before minting and distributing the associated tokens, say attorneys at Paul Weiss.

  • The CFTC Is Shaking Up Sports Betting's Legal Future

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    The sports betting industry faces a potential sea change amid recent state and federal actions across the regulatory landscape that have expanded access to sporting event contracts against the backdrop of waning Commodity Futures Trading Commission opposition, says Nick Covek at Foley & Lardner.

  • Series

    Law School's Missed Lessons: Rejecting Biz Dev Myths

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    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.

  • Shareholder Takeaways From NY Internal Affairs Doctrine Suit

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    A May New York Court of Appeals decision in Ezrasons v. Rudd involving Barclays — affirming the state's "firmly entrenched" internal affairs doctrine — is a win for all corporate stakeholders seeking stability in resolving disputes between shareholders and directors and officers, say attorneys at Sadis & Goldberg.

  • Del. Dispatch: General Partner Discretion In Valuing Incentives

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    In Walker v. FRP Investors, the Delaware Court of Chancery recently held that the general partner of a limited partnership breached its obligations when determining the threshold value of newly issued incentive units, highlighting the court's willingness to reconstruct what a reasonable determination of value by a general partner should have been, say attorneys at Fried Frank.

  • Move Beyond Surface-Level Edits To Master Legal Writing

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    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.

  • Early Trends In Proxy Exclusion After SEC Relaxes Guidance

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    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.

  • 9th Circ. Has Muddied Waters Of Article III Pleading Standard

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    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.

  • Series

    Competing In Modern Pentathlon Makes Me A Better Lawyer

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    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.

  • NY Case Shows How LLC Agreements Can Be Amended

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    The New York Court of Appeals in Behler v. Tao recently held that a merger clause contained in an amended limited liability company agreement superseded and extinguished an alleged oral agreement between the parties, highlighting the importance of determining early how and when an LLC agreement may be amended, says Kerrin Klein at Olshan Frome.

  • Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'

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    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.

  • DOJ Memo Lays Groundwork For Healthy Bank Sponsorships

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    The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.

  • Series

    Law School's Missed Lessons: Teaching Yourself Legal Tech

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    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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