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Asset Management
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December 12, 2025
Oppenheimer Fined $1.2M In SEC Muni Bond Disclosure Case
Oppenheimer & Co. Inc. has agreed to pay the U.S. Securities and Exchange Commission $1.2 million for allegedly skirting municipal bond disclosure requirements, the regulator announced Friday.
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December 12, 2025
2 Firms Guide Stake Deal For Data Center Services Company
Middle market private equity firm Kohlberg will obtain a majority stake in industrial services company Loenbro LLC in a deal guided by Kirkland & Ellis LLP and Greenberg Traurig LLP, the companies announced.
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December 12, 2025
Chancery Issues Rare Redemption Order In Congo Dispute
A rare Court of Chancery battle over control of a sprawling palm oil plantation enterprise along Africa's Congo River has produced an equally rare court order for "redemptions in kind," or an unwinding and separation from an investor who led what the court described as a multi-faceted enterprise "coup."
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December 12, 2025
Nasdaq Seeks Power To Block IPOs Over Manipulation Risks
Nasdaq proposed a rule change on Friday that would give the exchange new discretion to block initial public offerings even when companies meet all quantitative listing requirements, citing concerns that certain stocks could be vulnerable to manipulation once they begin trading.
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December 12, 2025
Caterpillar Dealer Ex-Worker Files 401(k) Fee Suit In Fla.
An ex-worker for a dealer of Caterpillar construction equipment in Florida hit his former employer with a proposed class action in federal court alleging his employee 401(k) plan paid excessive fees, breaching fiduciary duties under federal benefits law.
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December 12, 2025
4 Big ERISA Litigation Developments From 2025's 2nd Half
The Eleventh Circuit signaled it may be willing to change its precedent to make it easier for federal benefits lawsuits to get to the courthouse door, while the Second Circuit shut down a challenge to a union pension plan's private equity investment emphasis. Here's a look back at these and two other significant Employee Retirement Income Security Act litigation developments from the latter half of 2025 that benefits attorneys should have on their radar.
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December 12, 2025
Fenwick, Latham Lead Robo-Adviser Wealthfront's $485M IPO
Digital wealth management firm Wealthfront made its public debut on the Nasdaq Friday after raising $485 million in its initial public offering, a move that comes after the venture-backed company filed confidential plans to go public this summer.
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December 12, 2025
Taxation With Representation: Cravath, Skadden, Debevoise
In this week's Taxation With Representation, Paramount Skydance Corp. launches a hostile bid for Warner Bros. Discovery, challenging Netflix's deal to acquire the studio and streaming business, IBM acquires data streaming company Confluent, and natural gas company Antero Resources Corp. expands via a deal with HG Energy.
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December 12, 2025
Higgs Fletcher Forms White Collar, Regs Enforcement Team
San Diego-based law firm Higgs Fletcher & Mack LLP has launched a white collar crime and regulatory enforcement defense practice group, citing heightened regulatory scrutiny in the financial and healthcare sectors and rising enforcement risks for licensed professionals and institutions.
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December 12, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Shell hit with a climate change claim from 100 survivors of a typhoon in the Philippines, London Stock Exchange-listed Oxford Nanopore bring legal action against its co-founder, and the editors of Pink News sue the BBC for defamation following its investigation into alleged sexual misconduct at the news site.
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December 11, 2025
Trump Orders Review Of Proxy Advisers' 'Substantial Power'
President Donald Trump on Thursday issued an executive order that aims to scrutinize the influence that proxy adviser firms like Institutional Shareholder Services Inc. and Glass Lewis & Co. LLC have, including in relation to diversity, equity and inclusion agendas.
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December 11, 2025
FSOC To Tack Toward Deregulation For Growth, Bessent Says
U.S. Treasury Secretary Scott Bessent said Thursday that the Financial Stability Oversight Council will pivot toward a focus on promoting economic growth through deregulation, charting a new course for the panel that mirrors shifts underway at its member agencies.
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December 11, 2025
House Passes Bill To Rev Up Investment, Biz Opportunities
The U.S. House of Representatives on Thursday passed bipartisan legislation that would revamp securities law by making it easier for entrepreneurs and small businesses to access capital and by expanding investment opportunities in private markets.
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December 11, 2025
SEC Must Provide Names To Compliance Chief In Fraud Suit
An Illinois federal judge on Thursday ordered the U.S. Securities and Exchange Commission to comply with a chief compliance officer's request for the names of agency staffers familiar with his whistleblower claims as he defends allegations that he played a role in a purportedly fraudulent stock offering by a "sham" energy company.
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December 11, 2025
Chancery OKs $13M Concord SPAC Deal, Delays Fee Ruling
Delaware Vice Chancellor Paul A. Fioravanti Jr. on Thursday approved a $13.08 million settlement resolving claims that Concord Acquisition Corp.'s insiders tried to divert a $20 million breakup fee to themselves after the SPAC's failed merger with cryptocurrency company Circle, but he deferred ruling on attorney fees until plaintiffs supply additional time records.
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December 11, 2025
Fed Terminates 3 Actions Against Credit Suisse, JPMorgan
The Federal Reserve said Thursday that it has terminated a trio of enforcement actions against Credit Suisse Group AG and JPMorgan Chase & Co., lifting consent orders that were tied to alleged illicit finance practices and trade surveillance failures.
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December 11, 2025
DOJ-UnitedHealth Deal Requiring Home Health Sale OK'd
A Maryland federal judge signed off on the U.S. Department of Justice settlement resolving its challenge to UnitedHealth's $3.3 billion acquisition of home health and hospice company Amedisys, under a deal requiring the sale of least 164 locations across 19 states.
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December 11, 2025
Terraform Founder Gets 15 Years For 'Epic' $40B Crypto Scam
A Manhattan federal judge hit Terraform founder Do Kwon with a 15-year prison sentence Thursday, saying he caused "real people to lose $40 billion in real money" as he orchestrated a massive fraud that sunk the once high-flying crypto concern.
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December 11, 2025
Chancery Skeptical Of B. Riley Investors' Investment Loss Suit
A vice chancellor in the Delaware Chancery Court on Thursday pressed the lawyer for a B. Riley Financial Inc. stockholder to justify Caremark oversight claims tied to the investment firm's failed bets on the Franchise Group Inc., repeatedly questioning whether the complaint plausibly alleged bad faith board inaction rather than business judgment disagreements.
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December 11, 2025
Connell Foley Beats DQ Bid In NJ Investment Bias Case
A federal judge on Thursday threw out a renewed bid by an investment firm suing the state of New Jersey to disqualify the state's counsel at Connell Foley LLP, finding there was no previous attorney-client relationship to justify disqualification.
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December 10, 2025
SG Says Justices Should Back Employers In ERISA Split
The U.S. solicitor general is urging the U.S. Supreme Court to back Home Depot's win in a retirement plan fight with its employees, and in the process, resolve a circuit split in employers' favor over who bears the burden of proving a financial loss from alleged mismanagement.
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December 10, 2025
Gov't Urges Justices To Review ERISA Pleading Standard Split
The U.S. solicitor general and the solicitor of labor said the U.S. Supreme Court needs to clarify that workers must back their suits targeting underperforming retirement funds with proper comparison proof, urging the justices to take up a case taking aim at Parker-Hannifin Corp.'s retirement plan management.
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December 10, 2025
Fund Founder Charged With $42M Fraud, SEC Obstruction
A Canadian citizen was arrested Wednesday in England and indicted on charges that he fraudulently raised more than $42 million from investors he courted on the social media platform Discord and elsewhere, and separately misled lenders in giving him more than $800,000 in credit.
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December 10, 2025
Trader Admits To Role In $350M Investment Fraud
A trader admitted to his role in defrauding dozens of investors out of more than $350 million, according to the U.S. Department of Justice.
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December 10, 2025
Willkie, Latham Guide $242M Infrastructure IPO
Cardinal Infrastructure Group's shares began trading on the Nasdaq on Wednesday, following an over $241 million initial public offering led by Willkie Farr & Gallagher LLP and Latham & Watkins LLP.
Expert Analysis
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What Cross-Border Task Force Says About SEC's Priorities
The formation of the U.S. Securities and Exchange Commission's cross-border task force, focused on investigating U.S. federal securities law violations overseas, underscores Chairman Paul Atkins' prioritization of classic fraud schemes, particularly involving foreign entities, say attorneys at Cleary.
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Series
Traveling Solo Makes Me A Better Lawyer
Traveling by myself has taught me to assess risk, understand tone and stay calm in high-pressure situations, which are not only useful life skills, but the foundation of how I support my clients, says Lacey Gutierrez at Group Five Legal.
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Series
Law School's Missed Lessons: Client Service
Law school teaches you how to interpret the law, but it doesn't teach you some of the key ways to keeping clients satisfied, lessons that I've learned in the most unexpected of places: a book on how to be a butler, says Gregory Ramos at Armstrong Teasdale.
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How Occasional Activists Have Reshaped Proxy Fights
The sophistication and breadth of first-time activist engagement continue to shape corporate governance and strategic outcomes, as evidenced across corporate annual meetings this summer, meaning advisers should anticipate continued innovation in tactics, increased regulatory complexity, and a persistent focus on board accountability, say attorneys at MoFo.
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How Financial Cos. Can Prep As NYDFS Cyber Changes Loom
Financial institutions supervised by the New York State Department of Financial Services can prepare for two critical cybersecurity requirements relating to multifactor authentication and asset inventories, effective Nov. 1, by conducting gap analyses and allocating resources to high-risk assets, among other steps, say attorneys at Pillsbury.
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Opinion
Ending Quarterly Reporting Would Erode Investor Protection
President Donald Trump recently called for an end to the long-standing practice of corporate quarterly reporting, but doing so would reduce transparency, create information asymmetries, provide more opportunities for corporate fraud and risk increased stock price volatility, while not meaningfully increasing long-term investments, say attorneys at Bleichmar Fonti.
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Series
Adapting To Private Practice: 3 Tips On Finding The Right Job
After 23 years as a state and federal prosecutor, when I contemplated moving to a law firm, practicing solo or going in-house, I found there's a critical first step — deep self-reflection on what you truly want to do and where your strengths lie, says Rachael Jones at McKool Smith.
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Series
Painting Makes Me A Better Lawyer
Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've brought to my legal work has been the value of originality, says Jana Gouchev at Gouchev Law.
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Opinion
SEC Arbitration Shift Is At Odds With Fraud Deterrence
The U.S. Securities and Exchange Commission's recent statement allowing the use of mandatory arbitration by new publicly traded companies could result in higher legal costs, while removing the powerful deterrent impact of public lawsuits that have helped make the U.S. securities markets a model of transparency and fairness, say attorneys at Labaton Keller.
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Protecting Sensitive Court Filings After Recent Cyber Breach
In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mitigate the risk of unauthorized exposure, say attorneys at Redgrave.
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Despite Fraud Focus, SEC Still Targeting Technical Violations
The U.S. Securities and Exchange Commission under Chairman Paul Atkins has emphasized its back-to-basics strategy, focusing on identifying and combating fraud and manipulation, but at the same time, it has continued to pursue nonfraud-based actions targeting technical rule violations, a trend that will likely continue, say attorneys at Morgan Lewis.
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Series
Judging Figure Skating Makes Me A Better Lawyer
Judging figure skating competitions helps me hone the focus, decisiveness and ability to process complex real-time information I need in court, but more importantly, it makes me reengage with a community and my identity outside of law, which, paradoxically, always brings me back to work feeling restored, says Megan Raymond at Groombridge Wu.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q3
The third quarter of 2025 brought legislative changes to state money transmission certification requirements and securities law obligations, as well as high-profile accounting and anti-money laundering compliance enforcement actions by the Department of Financial Protection and Innovation, say attorneys at Ropes & Gray.
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What Ethics Rules Say On Atty Discipline For Online Speech
Though law firms are free to discipline employees for their online commentary about Charlie Kirk or other social media activity, saying crude or insensitive things on the internet generally doesn’t subject attorneys to professional discipline under the Model Rules of Professional Conduct, says Stacie H. Rosenzweig at Halling & Cayo.
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Balancing The Risks And Rewards Of Private Equity In 401(k)s
The recent executive order directing government agencies to consider encouraging private equity and other alternative investments in 401(k) plans does not change the fundamental fiduciary calculus or reduce risk, as success with private investments will depend on careful analysis of both participant demand and fiduciary obligations, say attorneys at Jenner & Block.