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Asset Management
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January 29, 2026
SpaceX Eyes IPO At $1.5 Trillion Value, Plus More Rumors
Elon Musk's SpaceX is preparing plans to launch an initial public offering that would value it at a massive $1.5 trillion, Chevron is seeking better terms from Iraq before buying Russia's Lukoil assets, and cryptocurrency wallet Ledger is weighing a $4 billion U.S. IPO.
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January 28, 2026
Northern Trust VP Stole Millions From Elderly Client, Suits Say
An elderly banking heiress and her nephew have sued the Northern Trust Co., alleging the wealth management firm failed to safeguard their assets from a now-former vice president who helped himself to millions of dollars of their funds.
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January 28, 2026
Ropes Leads Kraken-Linked SPAC's Upsized $300M Listing
Krakacquisition, a blank check company that counts crypto exchange Kraken among its backers, began trading on Wednesday after pricing an upsized $300 million initial public offering steered by Ropes & Gray LLP and underwriter counsel Allen Overy Shearman Sterling US LLP.
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January 28, 2026
SEC Urged To Adopt Insider Trading Rules For Foreign Firms
A former member of the U.S. Securities and Exchange Commission is among a trio of academics pressing the agency to write rules cracking down on insider trading at foreign companies that trade on U.S. exchanges, urging action before a congressionally mandated deadline runs out in March.
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January 28, 2026
BlackRock, Eclipse Lead Cellares' $257M Funding Round
Integrated development and manufacturing organization company Cellares, which focuses on the large-scale manufacturing of cell therapies, on Wednesday announced that it closed a $257 million funding round, bringing the South San Francisco, California-based company's total capital raised to $612 million.
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January 28, 2026
PBGC Reports Rosy Outlook For Single, Multiemployer Plans
The Pension Benefit Guaranty Corp.'s program backstopping the nation's private-sector pension plans reported another year of healthy finances, with an end-of-fiscal-year surplus of more than $64 billion, the agency said.
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January 28, 2026
Ropes-Led EAM Clinches 2nd Fund With $575M In Tow
Ropes & Gray LLP-advised private equity shop Equality Asset Management announced Wednesday that it wrapped its second fund with $575 million in investor commitments.
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January 28, 2026
3rd Circ. Appears Skeptical Of Quest's Early Win In 401(k) Suit
The Third Circuit on Wednesday pressed attorneys defending Quest Diagnostics Inc.'s pretrial defeat of a proposed class action from workers who alleged that their 401(k) savings were drained by underperforming investment funds, spotlighting the parties' disagreement over whether the lab company followed its own investment policy statement.
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January 28, 2026
Self-Driving Car Biz Waabi Secures $750M In New Funding
Self-driving automobile tech company Waabi on Wednesday announced that it secured $750 million of new funding and unveiled a partnership with Uber that will be used to develop and deploy robotaxis.
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January 27, 2026
US Bancorp Shells Out $250K To End Workers' 401(k) Suit
U.S. Bancorp has agreed to pay $250,000 to end a class action by participants in the company's employee 401(k) plan alleging the plan paid excessive recordkeeping fees in violation of federal benefits law.
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January 27, 2026
Iowa Can't Block Schwab's Antitrust Deal, 5th Circ. Told
A group of investors who settled with The Charles Schwab Corp. in an antitrust suit over the financial services company's merger with TD Ameritrade has urged the Fifth Circuit to dismiss an appeal filed by the state of Iowa, which had previously objected to the settlement's lack of monetary benefit to the class and proposed attorney payouts.
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January 27, 2026
SEC Settles 3 Insider Trading Cases for $1M
The U.S. Securities and Exchange Commission has settled three separate insider trading cases this week for a total of $1 million, entering agreements with a trader who was allegedly tipped off about a $3 billion acquisition and another who had already pled guilty to insider trading.
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January 27, 2026
Investor Group Battles PG&E's $100M Wildfire Suit Deal
A faction of the proposed class members in a securities class action targeting Pacific Gas & Electric Co. have asked the California federal judge overseeing the case to deny a settlement of claims that the company misled investors about its safety practices ahead of deadly wildfires in the past decade.
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January 27, 2026
Investors Say Teva Can't Get Early Win In Price-Fixing Suit
Investors guided by Highfields Capital told a Connecticut federal court that Teva Pharmaceuticals can't escape their claims that its alleged collusion with other drugmakers to artificially inflate the price of generic drugs also inflated stock prices, reasoning that Teva executives falsely attributed the company's performance to factors other than the alleged price-fixing.
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January 27, 2026
AI Robotics Biz Raises $110M In New Funding
Norton Rose Fulbright-advised Vention, which makes artificial intelligence-powered software and hardware for automation and robotics, on Tuesday revealed that it has secured $110 million in new financing.
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January 27, 2026
Full 11th Circ. Will Rehear Seafood Co. Workers' ESOP Suit
The full Eleventh Circuit will rehear a proposed class of seafood company workers' bid to revive mismanagement allegations against their employer and an employee stock ownership plan trustee, the court said Tuesday, after a three-judge panel affirmed dismissal of the case in October.
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January 27, 2026
Ex-Wells Fargo Director Urges 4th Circ. To Keep $22M Verdict
A former Wells Fargo director has asked the Fourth Circuit not to scrap his $22.1 million Americans with Disabilities Act verdict, arguing the bank failed to address one of his state law claims on appeal and can't rewrite how the jury weighed conflicting evidence and testimony.
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January 27, 2026
Mountain Lake's Second SPAC Raises Upsized $313M Offering
Mountain Lake Acquisition Corp II, a blank-check company led by Axos Financial board chair Paul Grinberg, began trading Tuesday after pricing an upsized $313.2 million initial public offering.
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January 27, 2026
11th Circ. Scrutinizes Royal Caribbean's Defeat Of 401(k) Suit
The Eleventh Circuit zeroed in Tuesday on whether a lower court had enough evidence to hand Royal Caribbean a pretrial win in a suit brought by cruise ship workers who alleged they lost 401(k) savings because of shoddy target-date investment funds.
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January 27, 2026
Kirkland-Led Leonard Green Gets $3.6B For Single-Asset Fund
Leonard Green & Partners LP, advised by Kirkland & Ellis LLP, has announced it closed its inaugural investment program focused on single-asset continuation funds sponsored by third-party private equity managers, with $3.6 billion of commitments.
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January 27, 2026
Willkie Adds Private Equity Pro From Sidley Austin In LA
Willkie Farr & Gallagher LLP has added a partner from Sidley Austin LLP to strengthen its capacity to advise private equity funds, asset managers and other clients about corporate transactions.
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January 27, 2026
EU Advances Brookfield, GIC's Australian Storage REIT Buy
European regulators on Tuesday signed off on a proposed $2.6 billion buyout of Australian self-storage company National Storage REIT by Brookfield Asset Management and GIC, in a deal advised by Ashurst LLP and Clayton Utz.
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January 27, 2026
3 Firms Guide GigCapital's Latest SPAC, Raising $220M
GigCapital9 Corp., the latest special purpose acquisition company led by serial SPAC sponsor Avi Katz, began trading publicly Tuesday after pricing its $220 million initial public offering.
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January 26, 2026
SEC Tells Judge Chat Records Bolster Its Short-Selling Claims
The U.S. Securities and Exchange Commission is looking for an early victory on certain claims against an investment adviser and its managing partner accused of engaging in an illicit short-selling scheme, arguing the managing partner's online messages and his own admission that he'd made a "poor business decision" support a finding in its favor.
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January 26, 2026
Whole Foods $2M ERISA Deal OK'd, Class Counsel Get $666K
A Texas federal judge signed off on a $2 million settlement between Austin-based Whole Foods and its employees, resolving a class action in which the company was accused of mismanaging employee 401(k) accounts by failing to negotiate for lower administrative fees.
Expert Analysis
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Courts Keep Upping Standing Ante In ERISA Healthcare Suits
As Article III standing becomes increasingly important in litigation brought by employer-sponsored health plan members under the Employee Retirement Income Security Act, several recent cases suggest that courts are taking a more scrutinizing approach to the standing inquiry in both class actions and individual matters, say attorneys at Crowell & Moring.
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How Hyperlinks Are Changing E-Discovery Responsibilities
A recent e-discovery dispute over hyperlinked data in Hubbard v. Crow shows how courts have increasingly broadened the definition of control to account for cloud-based evidence, and why organizations must rethink preservation practices to avoid spoliation risks, says Bree Murphy at Exterro.
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CFPB Proposal Defining Consumer Risk May Add Uncertainty
Though a recent Consumer Financial Protection Bureau proposal would codify when risks to consumers justify supervisory intervention against nonbanks, furthering Trump administration plans to curtail CFPB authority, firms may still struggle to identify what could attract supervisory designation under the new rule, say attorneys at Steptoe.
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Atkins-Led SEC Continues Focus On Private Funds
Since the change in administration, there has overall been a more accommodative regulatory stance toward private funds, but a recent enforcement action suggests that the U.S. Securities and Exchange Commission is not backing off from enforcement in the space completely, say attorneys at Simpson Thacher.
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9th Circ. Ruling Leaves SEC Gag Rule Open To Future Attacks
Though the Ninth Circuit's recent ruling in Powell v. U.S. Securities and Exchange Commission leaves the SEC's no-admit, no-deny rule intact, it could provide some fodder for litigants who wish to criticize the commission's activities either before or after settling with the commission, says Jonathan Richman at Brown Rudnick.
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Series
Writing Musicals Makes Me A Better Lawyer
My experiences with writing musicals and practicing law have shown that the building blocks for both endeavors are one and the same, because drama is necessary for the law to exist, says Addison O’Donnell at LOIS Law.
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Series
Adapting To Private Practice: From Va. AUSA To Mid-Law
Returning to the firm where I began my career after seven years as an assistant U.S. attorney in Virginia has been complex, nuanced and rewarding, and I’ve learned that the pursuit of justice remains the constant, even as the mindset and client change, says Kristin Johnson at Woods Rogers.
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Rebutting Price Impact In Securities Class Actions
Defendants litigating securities cases historically faced long odds in defeating class certification, but that paradigm has recently begun to shift, with recent cases ushering in a more searching analysis of price impact and changing the evidence courts can consider at the class certification stage, say attorneys at Katten.
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7 Document Review Concepts New Attorneys Need To Know
For new associates joining firms this fall, stepping into the world of e-discovery can feel like learning a new language, but understanding a handful of fundamentals — from coding layouts to metadata — can help attorneys become fluent in document review, says Ann Motl at Bowman and Brooke.
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Stablecoin Committee Promotes Uniformity But May Fall Short
While the Genius Act's establishment of the Stablecoin Certification Review Committee will provide private stablecoin issuers with more consistent standards, fragmentation remains due to the disparate regulatory approaches taken by different states, say attorneys at Morgan Lewis.
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Agentic AI Puts A New Twist On Attorney Ethics Obligations
As lawyers increasingly use autonomous artificial intelligence agents, disciplinary authorities must decide whether attorney responsibility for an AI-caused legal ethics violation is personal or supervisory, and firms must enact strong policies regarding agentic AI use and supervision, says Grace Wynn at HWG.
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Parsing Trump Admin's First 6 Months Of SEC Enforcement
The U.S. Securities and Exchange Commission's enforcement results for the first six months of the Trump administration show substantially fewer new enforcement actions compared to the same period under the previous administration, but indicate a clear focus on traditional fraud schemes affecting retail investors, say attorneys at King & Spalding.
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Series
Being A Professional Wrestler Makes Me A Better Lawyer
Pursuing my childhood dream of being a professional wrestler has taught me important legal career lessons about communication, adaptability, oral advocacy and professionalism, says Christopher Freiberg at Midwest Disability.
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SEC Rulemaking Radar: The Debut Of Atkins' 'New Day'
The U.S. Securities and Exchange Commission's regulatory flex agenda, published last week, demonstrates a clear return to appropriately tailored and mission-focused rulemaking, with potential new rules applicable to brokers, exchanges and trading, among others, say attorneys at Goodwin.
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Series
Law School's Missed Lessons: Adapting To The Age Of AI
Though law school may not have specifically taught us how to use generative artificial intelligence to help with our daily legal tasks, it did provide us the mental building blocks necessary for adapting to this new technology — and the judgment to discern what shouldn’t be automated, says Pamela Dorian at Cozen O'Connor.