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Capital Markets
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									September 22, 2025
									Crime-Fraud Exemption Applies To Eletson Docs, Judge SaysReed Smith LLP has until the end of the day on Monday to turn over a dozen client files related to its prior representation of shipping company Eletson Holdings amid a dispute with rival Levona, after a Manhattan federal judge found probable cause that a fraud was committed in an underlying arbitration. 
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									September 22, 2025
									Wachtell, Paul Weiss Advise On Pfizer's $7.3B Obesity PathPfizer Inc. will acquire Metsera Inc. for $4.9 billion in cash, as the U.S. pharmaceutical giant bets on the biotech firm's experimental treatments for obesity and cardiometabolic diseases, the companies said Monday. 
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									September 22, 2025
									Dentons Adds Capital Markets Pro From Morgan Stanley In NYAn executive director at Morgan Stanley has returned to private practice at Dentons after beginning his legal career at its legacy firms, Dentons announced Monday. 
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									September 22, 2025
									PE-Backed Flood Insurance Provider Neptune Eyes $350M IPOFlorida-based residential and commercial flood insurer Neptune Insurance said Monday that it is seeking a valuation of $2.76 billion in an initial public offering next week advised by Orrick Herrington & Sutcliffe LLP and Davis Polk & Wardwell LLP. 
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									September 22, 2025
									2 Firms Advise Compass' $1.6B Buy Of Broker AnywhereReal estate broker Compass said Monday that it has struck a deal to acquire rival broker Anywhere Real Estate for $1.6 billion, in a transaction advised by Kirkland & Ellis LLP and Wachtell Lipton Rosen & Katz. 
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									September 19, 2025
									Goodwin, Latham Steer E-Commerce Co. Pattern's $300M IPOTop Amazon.com reseller Pattern Group Inc. kicked off its public-market trading debut on the Nasdaq on Friday with a $300 million initial public offering guided by Goodwin Procter LLP, and Latham & Watkins LLP represented the underwriters, which include Goldman Sachs & Co. LLC and J.P. Morgan. 
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									September 19, 2025
									SEC Dem Fears 'High-Speed Collision' In Private MarketsThe U.S. Securities and Exchange Commission's sole Democrat urged the agency on Friday to pay more than "lip service" to investor protection as it considers allowing more everyday Americans to access private markets, warning that the commission was headed for a "high-speed collision" if it doesn't change course. 
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									September 19, 2025
									Treasury Launches Stablecoin Rule Push With Call For InputThe U.S. Department of the Treasury on Friday asked for public input on key regulatory considerations for stablecoins as it begins crafting rules to govern the stable-value crypto tokens under the recently signed Genius Act. 
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									September 19, 2025
									AmTrust Investors Seek Class Cert. After 2nd Circ. RevivalAmTrust investors have asked a New York federal judge to certify three subclasses covering those who purchased stock in the insurer's $320 million initial public offering, after the Second Circuit revived their case against the firm and its auditor BDO USA LLP over financial restatements AmTrust had to make. 
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									September 19, 2025
									Texas AG Appeals Ruling That Blocked ESG Proxy LawTexas Attorney General Ken Paxton is appealing to the Fifth Circuit a federal judge's order temporarily blocking a new state law requiring proxy advisory firms to disclose when their advice stems from factors such as diversity and inclusion. 
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									September 19, 2025
									Dems Want Answers On Delayed FinCEN Adviser RuleSen. Elizabeth Warren and other congressional Democrats have pressed Treasury Secretary Scott Bessent on the department's decision to postpone a rule they said addresses a money laundering vulnerability of the U.S. investment adviser sector, saying the decision puts national security and the economy at risk. 
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									September 19, 2025
									FTX Trust Says Bankruptcy Laws Apply To Binance FounderThe recovery trust created by the Chapter 11 plan of cryptocurrency exchange FTX told a Delaware judge late Thursday that the bankruptcy court has jurisdiction over Binance and its founder in a $1.76 billion clawback suit, and that bankruptcy laws apply to entities outside the United States. 
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									September 19, 2025
									Shareholders Urge Sanctions Over Telecom Tower SeizuresMajority shareholders of a Latin American telecommunications tower operator should be sanctioned for ignoring a court order to hand over documents related to an action the company lodged in Guatemala, a group of minority shareholders have told a New York federal judge. 
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									September 19, 2025
									SEC Fines Bloomberg Unit $5M Over False Market Data ClaimsThe U.S. Securities and Exchange Commission and Bloomberg Tradebook LLC have reached a $5 million settlement to resolve claims that the broker-dealer made false and misleading statements to customers about the speed at which it displayed market data from U.S. options exchanges. 
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									September 19, 2025
									Off The Bench: Briefings On Trans Ban, New Kalshi ConflictsIn this week's Off The Bench, the U.S. Supreme Court receives initial briefs from West Virginia and Idaho regarding their bans on gender identity-based participation in school sports, Kalshi is taken to court by another state over its event contract offerings, and Washington, D.C.'s National Football League team takes a major step toward returning to its namesake city. 
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									September 19, 2025
									Ellenoff-Led SPAC Among 3 IPOs Seeking Total $450MGalata Acquisition Corp. II, a special purpose acquisition company formed by Callaway Capital Management, began trading Friday after raising $150 million by offering 15 million units at $10. 
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									September 19, 2025
									SEC Wins 'Scalping' Trial Against Penny Stock TraderA Manhattan federal jury held an Ohio man liable on Friday in a case brought by the U.S. Securities and Exchange Commission alleging he fraudulently earned over $2.5 million by buying up penny stocks, hyping them online and then selling for gains in a "scalping" scheme. 
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									September 18, 2025
									Ex-FBI Informant Gentile Owes SEC Over $15.5M, Judge RulesA onetime FBI informant and his shuttered, unregistered broker-dealer owe the U.S. Securities and Exchange Commission monetary obligations of over $15.5 million before interest, a Miami federal judge has determined, though the defendant's attorneys said Thursday he plans to appeal. 
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									September 18, 2025
									BofA Unit To Pay $5.6M To End DOJ Market Manipulation CaseThe U.S. Department of Justice said Thursday that an investment banking arm of Bank of America Corp. will pay roughly $5.6 million to resolve a criminal investigation into market manipulation allegations involving two now-former traders on its U.S. Treasurys desk. 
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									September 18, 2025
									SEC Eases Path For Crypto ETPs With New Listing RulesThe U.S. Securities and Exchange Commission has eased a key part of the listing process for crypto exchange-traded products, and attorneys say the move may create a shorter path to market for years to come. 
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									September 18, 2025
									Arbitration Clauses Won't Protect IPOs From Investor SuitsWith the U.S. Securities and Exchange Commission greenlighting the use of mandatory arbitration clauses for newly public companies, securities litigation experts are waiting to see whether any company is willing to risk the almost inevitable legal blowback that will come with taking advantage of the policy. 
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									September 18, 2025
									Dems Demand DOJ Explain Binance Plea Deal ComplianceU.S. Sen. Elizabeth Warren and two of her Democratic colleagues have asked U.S. Attorney General Pam Bondi for information on Binance's compliance with its 2023 plea agreement stemming from anti-money laundering lapses, pointing to President Donald Trump's ties to the crypto exchange. 
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									September 18, 2025
									Crypto Promoter Gets Prison For $14M Forcount FraudA Manhattan federal judge Thursday sentenced a promoter of the fake cryptocurrency outfit Forcount Trader Systems Inc. to a year and a day in prison for his role in a $14 million Ponzi and pyramid scheme that defrauded thousands of primarily Spanish-speaking investors around the globe. 
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									September 18, 2025
									SafeMoon Ch. 7 Trustee Pitches $12M SettlementCryptocurrency asset company SafeMoon US LLC's Chapter 7 trustee has asked a Utah bankruptcy judge to approve a settlement for a class action alleging the company defrauded investors, saying the deal to pay plaintiffs at least $12 million is fair and wise. 
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									September 18, 2025
									Jury Mulls Claims Man Duped Penny Stock Traders On TwitterA Manhattan federal jury on Thursday weighed fraud claims against an Ohio salesman from securities regulators who say he duped other traders as he took in over $2.5 million buying penny stocks, hyping shares on Twitter before selling in a "scalping" scheme. 
Expert Analysis
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								How Dfinity Timeliness Ruling Can Aid Crypto Issuers  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. 
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								The CFTC Is Shaking Up Sports Betting's Legal Future  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. 
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								Series Law School's Missed Lessons: Rejecting Biz Dev Myths  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. 
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								Move Beyond Surface-Level Edits To Master Legal Writing  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. 
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								Early Trends In Proxy Exclusion After SEC Relaxes Guidance  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. 
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								9th Circ. Has Muddied Waters Of Article III Pleading Standard  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. 
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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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								Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'  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. 
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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.png)  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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								2 NY Rulings May Stem Foreign Co. Derivative Suits  In recent decades, shareholders have challenged the internal affairs doctrine by bringing a series of derivative actions in New York state court on behalf of foreign corporations, but the New York Court of Appeals' recent rulings in Ezrasons v. Rudd and Haussmann v. Baumann should slow that trend, say attorneys at Cleary. 
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								Ore. Coinbase Case Charts New Path For State Crypto Suits  Oregon's recent lawsuit against Coinbase serves as a reminder for the crypto industry that not all states will simply defer to the U.S. Securities and Exchange Commission's evolving stance on crypto-assets, highlighting why stakeholders should proactively assess the risks posed by state-level litigation and develop strategies to address distinct challenges, say attorneys at Steptoe.