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Capital Markets
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May 21, 2025
Title Insurance Co. Fights Treasury All-Cash Resi Deals Rule
A title insurance company and a subsidiary have filed suit in Florida federal court challenging new reporting requirements for all-cash real estate closings, saying the rule exceeds the U.S. Department of the Treasury's Financial Crimes Enforcement Network's authority.
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May 21, 2025
AbbVie Gets Victory In Allergan Shareholder Suit Upheld
An Illinois state appellate panel said Wednesday that a trial court properly dismissed a shareholder class action against biopharmaceutical company AbbVie Inc. that accused the drugmaker of issuing unregistered shares to investors after acquiring Irish pharmaceutical company Allergan.
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May 21, 2025
Kirkland, Fenwick Lead CoreWeave's Upsized $2B Debt Offer
Artificial intelligence startup CoreWeave Inc. on Wednesday said it raised $2 billion in debt through an upsized offering, represented by Kirkland & Ellis LLP and Fenwick & West LLP, that netted $500 million more than its initial target.
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May 21, 2025
Crypto Influencer's SPAC Leads 2 Offerings Totaling $420M
A special purpose acquisition company led by crypto influencer Anthony Pompliano and advised by Reed Smith LLP raised $220 million as it went public on Wednesday, while another fintech-focused blank check company advised by DLA Piper raised $200 million in its own offering.
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May 21, 2025
SafeMoon CEO Convicted Of Looting Crypto Company
A Brooklyn federal jury on Wednesday quickly found the former CEO of SafeMoon guilty of conspiring to loot over $40 million from the cryptocurrency firm, making him the second former top leader of the once-hot company to be convicted while its founder remains a fugitive.
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May 21, 2025
CFTC Faces Leadership Void As 3rd Commissioner Plans Exit
U.S. Commodity Futures Trading Commission member Kristin Johnson has become the third agency member to announce her upcoming departure within the space of a week, potentially leaving the market regulator with a single voting member as it awaits the appointment of a new chair.
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May 20, 2025
Crypto Co. Genesis Sues Parent Co. Over $1.2B In Transfers
Genesis Global Capital, a crypto lender that filed for bankruptcy in 2023, is now suing its parent company in bankruptcy court, seeking to recover more than $1.2 billion that the lender says was transferred to insiders while the company was insolvent and headed for Chapter 11.
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May 20, 2025
Barclays Officials Beat Shareholder's Suit At NY High Court
New York's highest court on Tuesday rejected arguments that current and former officials of London-based Barclays PLC can be sued under New York law over a series of scandals that have rocked the bank, a decision that sparked rebuke from the court's chief judge.
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May 20, 2025
FDIC Nixes Biden-Era Merger Rules As House Passes OCC Bill
The Federal Deposit Insurance Corp. on Tuesday finalized the repeal of stricter bank merger guidelines adopted last year, pulling them back the same day as the U.S. House moved to nullify the Office of the Comptroller of the Currency's Biden-era merger policy rewrite.
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May 20, 2025
Venezuelan Nationals' RICO Suit Asserting Defamation Tossed
A Florida federal judge has dismissed racketeering and other claims against a director of Venezuela's state-owned oil company and others after determining that the suit accusing them of engaging in a defamatory campaign to smear civic leaders is a shotgun pleading.
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May 20, 2025
Crypto Co. Says Uniswap Uses Its Patented DeFi Tech
The developer of decentralized exchange Bancor on Tuesday accused the entities behind its competitor Uniswap of wrongfully using patented smart contract technology that went on to underpin much of the decentralized finance ecosystem.
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May 20, 2025
SEC Chair Says Staff Exits Have Left Holes In Agency
U.S. Securities and Exchange Commission Chair Paul Atkins told Congress Tuesday that the agency has lost hundreds of employees in recent months due to voluntary buyouts and early retirement incentives, and that some now-missing expertise will need to be replaced.
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May 20, 2025
Nextdoor Beats Investor Suit Over Post-SPAC Profitability
A California federal judge has tossed a shareholder class action that alleges hyperlocal social networking service Nextdoor Holdings Inc. misled investors about its projected profitability when combining with a special purpose acquisition company, saying the suit's plaintiff never owned or sold the company's securities before the merger, among other things.
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May 20, 2025
SafeMoon CEO's Crypto Talk 'Riddled With Lies,' Jury Told
A Brooklyn federal jury was set to deliberate charges accusing a U.S. Army veteran from Utah of conspiring to loot crypto company SafeMoon, after federal prosecutors on Tuesday walked jurors through what they called powerful evidence of the former CEO's guilt.
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May 20, 2025
NJ Justices Take Up Bond Marketing Suit Against Big Banks
The New Jersey Supreme Court will review a lower appellate court's ruling in favor of JPMorgan Chase & Co., Citigroup Inc., Wells Fargo and other big banks in a lawsuit accusing them of a scheme to inflate the interest rates of certain bonds, according to an order list the justices released Tuesday.
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May 20, 2025
Chinese EV Battery Giant Generates $4.6B IPO Amid Tensions
Electric-car battery maker Contemporary Amperex Technology Co. Ltd. began trading in Hong Kong after raising a $4.6 billion initial public offering, completing the year's largest equity offering globally despite tension between Washington and Beijing, guided by four law firms.
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May 20, 2025
Reed Smith Adds 2 Ex-A&O Shearman Corporate Finance Pros
Reed Smith announced the addition of two Asia-based attorneys from A&O Shearman to its financial industry group, including the former co-managing partner of A&O's Singapore office.
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May 20, 2025
Hogan Lovells Taps White & Case Atty As Derivatives Leader
Hogan Lovells announced Monday that it has appointed Edward So, a New York lawyer from White & Case LLP, to serve as its head of derivatives for the Americas — touting his 20-plus years of experience in law firms and as in-house counsel.
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May 20, 2025
Pot Company Can't Salvage 'Neobank' Fraud Suit, For Now
An Oregon federal judge dismissed all claims against two executives of defunct cannabis-focused neobank Left Coast Financial Solutions in a lawsuit brought by CBD distributor Killa Bees Distribution LLC over $127,000 in allegedly inaccessible deposits, but gave the company one last chance to fix its complaint.
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May 19, 2025
Senate Advances Stablecoin Bill After Dem Backers Return
The U.S. Senate's proposal to regulate stablecoins is headed to the floor after lawmakers voted to close debate on the bill Monday evening, clearing a procedural hurdle after first stumbling earlier this month when Democrats pulled support to pursue further negotiations.
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May 19, 2025
SEC's 'Shadow Trading' Win Should Be Tossed, 9th Circ. Told
An ex-Medivation Inc. executive found liable in the U.S. Securities and Exchange Commission's first-ever "shadow trading" case has asked the Ninth Circuit to overturn the verdict, arguing that his company's policies should have kept the matter from going to a jury in the first place.
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May 19, 2025
Terror Claimants Get OK To Serve Ex-Binance CEO's Counsel
A group of claimants suing Binance for allegedly abetting terrorist attacks have won permission to serve the cryptocurrency exchange's former CEO through his domestic counsel, after a New York federal judge found Friday that the plaintiffs had tried, unsuccessfully, to find his address in the United Arab Emirates.
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May 19, 2025
Real Estate CEO Gets 87 Months For $63M Crowdfund Fraud
The former CEO of a real estate investment firm who copped to ripping off investors in a crowdfunded $63 million development scheme was hit with a seven-plus-year prison sentence Monday from a Georgia federal judge who said the financier's "addiction to optimism" had been his ruin.
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May 19, 2025
Binance Calls FTX Ch. 11 Clawback Suit 'Legally Deficient'
Binance has asked a Delaware bankruptcy judge to dismiss FTX's lawsuit seeking to recover $1.76 billion that was transferred to Binance, accusing the estate of FTX of trying to "shift the blame" for that company's November 2022 collapse.
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May 19, 2025
SEC's 'New Day' Could Cause Financial Crisis, Member Warns
U.S. Securities and Exchange Commission Chair Paul Atkins on Monday promised a "new day" for the agency that could bring a host of changes around private fund investments, cryptocurrency and the collection of market data, but the commission's sole Democrat warned that new leadership was playing a "dangerous game" that could lead to a 2008-style financial crisis.
Expert Analysis
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5 Notable Information Security Events In 2024
B. Stephanie Siegmann at Hinckley Allen discusses 2024's largest and most destructive data breaches seen yet, ranging from ransomware disrupting U.S. healthcare systems on a massive scale, to tensions increasing between the U.S. and China over cyberespionage and the control of U.S. data.
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Series
Playing Rugby Makes Me A Better Lawyer
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.
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What Broker-Dealers Must Know Before Selling Bitcoin ETPs
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.
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Cyber Disclosure Is A Mainstay In 2025 SEC Exam Priorities
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.
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Opinion
No, Litigation Funders Are Not 'Fleeing' The District Of Del.
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.
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The Compliance Trends And Imperatives On Tap In 2025
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.
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5 E-Discovery Predictions For 2025 And Beyond
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.
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UBS Ruling Shows SDNY's Pro-Award Confirmation Stance
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.
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How Decline Of Deference Will Affect Trump Policymaking
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.
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5 Evolving Concerns For Family Offices In 2025
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.
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7 Ways 2nd Trump Administration May Affect Partner Hiring
President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.
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E-Discovery Quarterly: Rulings On Custodian Selection
Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.
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Impact Of Successful Challenges To SEC's Rulemaking Ability
In 2024, the U.S. Securities and Exchange Commission faced significant legal challenges to its aggressive rulemaking agenda as several of its rules were vacated by the Fifth Circuit, which could hinder the SEC's ability to enact rules extending beyond express statutory authority in the future, say attorneys at Debevoise.
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A Look At PCAOB's Record-Breaking Enforcement In 2024
The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.
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Series
Exercising On My Peloton Bike Makes Me A Better Lawyer
While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.