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Asset Management
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June 27, 2025
MoFo, Latham Lead Medical AI Co. Carlsmed's $100M IPO
Carlsmed Inc., a spinal surgery solutions-focused medical technology company near San Diego, has unveiled plans for an initial public offering, telling regulators it is aiming to raise up to $100 million, with Morrison & Foerster LLP advising Carlsmed and Latham & Watkins LLP representing the underwriters.
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June 27, 2025
3 DOL Policy Shifts On Benefits Attys' Radar
Since President Donald Trump's administration took over in January, the U.S. Department of Labor has changed its tack on several issues related to employee benefits. Here, Law360 looks at three moves that caught lawyers' attention.
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June 27, 2025
B. Riley Divests Advisory Services Biz In $118M PE Deal
Financial services company B. Riley Financial Inc., advised by Cole Schotz PC, announced Friday the sale of its advisory services business to funds managed by Canadian private equity shop TorQuest Partners in a $117.8 million deal.
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June 27, 2025
NC Biz Court Bulletin: Last-Minute Settlements Head Off Trials
Untouched by the summer slump, the North Carolina Business Court kicked off June with a sanctions order against a biogas company caught spurning court orders and a new complaint by a former NFL player accusing his longtime financial adviser of defrauding him for decades.
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June 26, 2025
SEC Won't Modify More Biden-Era Off-Channel Settlements
The U.S. Securities and Exchange Commission declined Thursday to rework another batch of Biden-era settlements tied to so-called off-channel communications on Wall Street, turning down bids that challenged some terms as unfair in light of more lenient later deals.
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June 26, 2025
Hedge Fund's 'End Run' On Citgo Auction Rejected In NY
A New York federal judge on Wednesday explained his reasoning for shutting down litigation last month filed by affiliates of hedge fund Gramercy seeking to collect nearly $1 billion owed by Venezuela's state-owned oil company, criticizing the affiliates for their "lack of diligence."
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June 26, 2025
CSBS Issues Money Transmitter Guidance on Virtual Currency
The Conference of State Bank Supervisors on Thursday released advisory guidance on how to consider virtual currency when calculating a licensee's tangible net worth under the Money Transmission Modernization Act, the first set of recommendations to be published under the CSBS board of directors' newly established process for issuing nonbinding, advisory guidance.
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June 26, 2025
GOP Sens. Aim To Finalize Crypto Market Bill By Sept. 30
Republican senators pledged Thursday to finish their digital asset market structure legislation by the end of September, stressing the urgency of delivering on President Donald Trump's aim to make the U.S. the cryptocurrency capital of the world.
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June 26, 2025
Natixis Beats Suit Claiming Self-Serving Funds Hurt Its 401(k)
Natixis defeated a 1,200-member class action Thursday claiming the French investment firm burdened its retirement plan with funds that performed poorly and benefited the company over employees, after a Massachusetts federal judge ruled the case lacked evidence of actionable lapses.
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June 26, 2025
'Pig Butchering' Scam Suit Dismissed For Good
An Alabama resident who sued two cryptocurrency firms and their CEO, accusing them of running a $28 million "pig butchering" scam that defrauded victims by laundering stolen cryptocurrency through a complex network of wallets, has jointly agreed with the defendants to dismiss the suit with prejudice.
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June 26, 2025
2nd Circ. Won't Void Aerospace Co.'s $5M Hedge Fund Loan
The Second Circuit has said a New York federal judge was correct in rejecting aerospace company Xeriant's bid to void a $5 million loan deal with Auctus Fund LLC, ruling that while the hedge fund was not registered with the U.S. Securities and Exchange Commission as a dealer, the contract didn't obligate it to do so.
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June 26, 2025
Lime Revs Up IPO, Crypto's Prospects Rise, And More Rumors
Uber Technologies Inc.-backed electric bike startup Lime is moving forward on a U.S. initial public offering, while more crypto ventures are seeking public listings and insurance giant BrightHouse inches closer to a sale. Here, Law360 breaks down the notable deal rumors from the past week.
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June 26, 2025
Ellenoff-Led Cantor Equity's Latest SPAC Raises $240M
Cantor Equity Partners III, the latest blank-check company formed by Cantor Fitzgerald & Co., has raised $240 million by offering 24 million shares at $10 apiece and began trading on Thursday.
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June 26, 2025
Latham, Weil Lead PE-Backed Jefferson Capital's $150M IPO
Private equity-backed consumer collections firm Jefferson Capital Inc. rallied in debut trading Thursday after pricing a $150 million initial public offering at the low point of its marketed range, represented by Latham & Watkins LLP and underwriters' counsel Weil Gotshal & Manges LLP.
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June 25, 2025
Fed Rolls Out Plan To Relax Leverage Rule For Biggest Banks
The Federal Reserve on Wednesday kicked off an effort to ease a key leverage requirement for the biggest U.S. banks, advancing a highly anticipated proposal that officials said could free up bank balance-sheet capacity to bolster the U.S. Treasury market.
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June 25, 2025
BigLaw Fixtures Steer Blockbuster Lakers Sale
Los Angeles Lakers minority owner Mark Walter unveiled his bid to assume control of the team Wednesday, enlisting Davis Polk & Wardwell LLP to guide acquisition of the team, with ArentFox Schiff LLP representing the Lakers.
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June 25, 2025
BofA Benefit Card Recipents Get Cert. In Covid Fraud MDL
A California federal judge has granted certification to five different classes in a multidistrict litigation alleging Bank of America NA's security failures exposed their unemployment and disability benefits cards to fraud and led the bank to breach their contracts by freezing all accounts during the COVID-19 pandemic.
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June 25, 2025
Anti-Aging Biotech Startup Minovia Inks $180M SPAC Merger
Minovia Therapeutics Ltd., an Israeli startup developing treatments for age-related decline, plans to go public in the U.S. at a $180 million valuation by merging with special purpose acquisition company Launch One Acquisition Corp., both parties announced Wednesday.
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June 25, 2025
PetroSaudi Slams Liquidators' Bid To Pause $380M Award Suit
A PetroSaudi unit pursuing enforcement of a $380 million arbitral award has asked a California federal judge to deny a request by the company's liquidators to pause a federal government suit targeting the award over its alleged connection to funds embezzled from Malaysia.
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June 25, 2025
SEC Grants Brokers More Time On Customer-Protection Rule
The U.S. Securities and Exchange Commission agreed Wednesday to extend until late June 2026 the time broker-dealers have to comply with recent amendments to a regulation protecting customers, saying that firms need more time to upgrade their operations.
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June 25, 2025
The 5 Big Enforcement Trends White Collar Attys Must Know
The Trump administration has made clear its intent to prioritize U.S. interests, eliminate transnational cartels and cut government fraud, waste and abuse — but questions remain about the administration’s approach to foreign bribery, crypto, public corruption, self-disclosure and clemency as we head into the second half of the year.
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June 25, 2025
NJ Accountant Admits To Role In $1.3B Easement Tax Scheme
A New Jersey accountant admitted to promoting fraudulent conservation easement tax shelters to wealthy clients in connection with a $1.3 billion scheme that triggered decades-long prison sentences for two ringleaders, the U.S. Department of Justice said Wednesday.
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June 25, 2025
Power Infrastructure Biz Takanock Nabs $500M Investment
Digital and power infrastructure solutions provider Takanock LLC, advised by Vinson & Elkins LLP, on Wednesday announced it had secured a $500 million investment from asset managers ArcLight and DigitalBridge.
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June 25, 2025
Tech-Focused SPACs Raise $408M Combined In New Listings
A pair of technology-focused special-purpose acquisition companies debuted on Wednesday after pricing two initial public offerings that raised $408 million combined, joining a wave of new SPAC listings, under guidance from five law firms.
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June 25, 2025
Do Kwon Trial Judge Has Eye On Federal Crypto Legislation
Federal legislation that could codify stablecoins as payment-related assets — not securities — has the potential to impact the Manhattan U.S. attorney's $40 billion criminal case against Terraform founder Do Kwon, a federal judge said Wednesday.
Expert Analysis
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
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.
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Shifting DEI Expectations Put Banks In Legal Crosshairs
The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.
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DOJ Memo Lays Groundwork For Healthy Bank Sponsorships
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.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
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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Texas Targets Del. Primacy With Trio Of New Corporate Laws
Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
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How AI May Reshape The Future Of Adjudication
As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
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When Legal Advocacy Crosses The Line Into Incivility
As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.
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Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet
Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.
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Series
Volunteering At Schools Makes Me A Better Lawyer
Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.
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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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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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A Look At Texas Corp. Law Changes Aimed At Dethroning Del.
Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.
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OCC's Digital Embrace Delivers Risk, Opportunity For Banks
As the Office of the Comptroller of the Currency continues to release and seek more information on banks' participation in the crypto-asset arena, institutions may see greater opportunity to pursue digital asset and custody services, but must simultaneously educate themselves on transformations occurring throughout the industry, says Kirstin Kanski at Spencer Fane.
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Series
Law School's Missed Lessons: Appreciating Civil Procedure
If you’re like me, law school’s often complex and theoretical approach to teaching civil procedure may have contributed to an early struggle with the topic, but when seen from a practical perspective, new lawyers may find they enjoy mastering these rules, says Chloe Villagomez at Foster Garvey.
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Calif. Bar Exam Fiasco Shows Why Attys Must Disclose AI Use
The recent revelation that a handful of questions from the controversial California bar exam administered in February were drafted using generative artificial intelligence demonstrates the continued importance of disclosure for attorneys who use AI tools, say attorneys at Troutman.