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Compliance
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October 28, 2025
Getting Grilled By FINRA 'Blows,' StraightPath Exec Texted
A StraightPath co-founder on trial for an alleged $400 million investor fraud complained via text about a Financial Industry Regulatory Authority probe as he gave what prosecutors call false testimony, evidence before a Manhattan federal jury showed Tuesday.
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October 28, 2025
Texas Accuses Tylenol Makers Of Hiding Autism Danger
The Texas Attorney General's Office on Tuesday sued the makers of Tylenol, alleging they hid the risk that the drug could lead to autism while marketing acetaminophen as the safest pain relief option for pregnant women and young children.
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October 28, 2025
Google Liable Again As DOJ's Ad Tech Win Extends To MDL
A New York federal judge held Google liable Tuesday for illegally monopolizing its advertising placement technology business, dramatically narrowing the scope of the multidistrict litigation from website publishers, advertisers and others by locking the technology giant into the Justice Department's win in a separate Virginia federal court case.
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October 27, 2025
Tom Hayes Slaps UBS With $400M Malicious Prosecution Suit
Former UBS trader Tom Hayes has filed a $400 million suit against his old employer, claiming the company "maliciously" framed him as the "evil mastermind" behind the company's Libor scandal despite the fact that he was explicitly directed to try to influence Libor submissions while at UBS.
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October 27, 2025
MIT Bros Go After 'Sandwichers' In $25M Crypto Heist Trial
The CEO of Savannah Technologies on Monday took the witness stand in the trial of two MIT-educated brothers accused of stealing $25 million from the Israeli cryptocurrency trading firm and others, and quarreled with defense counsel over the appropriateness of the company's use of a controversial strategy known as sandwich trading.
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October 27, 2025
$HAWK Buyers Get Suits Over Coin Flop Consolidated
A New York federal court on Monday granted two groups of buyers of the viral "Hawk Tuah" meme-themed cryptocurrency to combine their securities suits against the meme coin's promoters and developers.
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October 27, 2025
Whistleblower 'Horrified' By Novo Nordisk Drug Sales Tactics
The whistleblower behind a federal lawsuit accusing Novo Nordisk of paying kickbacks to doctors and patients as part of a scheme to drive sales of its hemophilia drug NovoSeven took the witness stand Monday, telling jurors she was "horrified" at how the drugmaker's marketing team targeted doctors.
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October 27, 2025
Kalshi Sues NY Regulator Over Cease-And-Desist Letter
Trading platform Kalshi on Monday accused the New York State Gaming Commission of intruding into the federal government's regulatory authority over derivatives trading, in a lawsuit following a cease-and-desist letter it received from the state regulator for allegedly illegal sports wagering.
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October 27, 2025
Dems Say $6.2B Nexstar-Tegna Deal Breaches Ownership Cap
Nexstar's $6.2 billion plan to merge with rival broadcast company Tegna will create a behemoth that will breach the FCC's national ownership cap that limits how many stations any one company can own in a given market, say two federal lawmakers from Colorado.
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October 27, 2025
Trump Taps Ex-Willkie Atty For 2nd Shot At Filling CFTC Chair
President Donald Trump has chosen a former Willkie Farr & Gallagher LLP partner and top attorney on the U.S. Securities and Exchange Commission's cryptocurrency task force to head the U.S. Commodity Futures Trading Commission, tapping the crypto industry advocate to lead an agency struggling with a leadership void.
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October 27, 2025
2nd Circ. Tosses Ex-Iconix CEO's Fraud Conviction
The Iconix Brand Group founder who was convicted of falsely inflating revenue by $11 million had his conviction overturned Monday by a Second Circuit panel that said he was subjected to double jeopardy.
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October 27, 2025
CFPB Says States Can't Enact Medical Debt Reporting Bans
The Consumer Financial Protection Bureau said Monday that it now believes federal law blocks efforts by states to ban medical debt from credit reports or enact most other credit reporting rules of their own, breaking sharply from its Biden-era stance on the topic.
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October 27, 2025
FINRA Fines Conn. Broker-Dealer Over Underfunded Reserves
A Connecticut brokerage will pay a $250,000 fine to end Financial Industry Regulatory Authority claims it underfunded its reserves and subsequently kept inaccurate records during a recent two-and-a-half year period.
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October 27, 2025
Delta, Aeromexico Ask 11th Circ. To Halt Feds' JV Split Order
Delta Air Lines and Aeromexico have asked the Eleventh Circuit to freeze a Trump administration order directing them to scuttle their joint venture by Jan. 1, saying their legal challenge should first run its course and that unwinding their complex networks would be "tremendously burdensome."
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October 27, 2025
5th Circ. Presses Texas County Over Redistricting Plan
A Fifth Circuit panel pushed a Texas county to explain how a politician's comment that Black people tend to vote for Democrats should weigh on whether a redistricting plan disenfranchises minority voters, asking Monday whether the county acknowledges that race played a factor in the redistricting.
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October 27, 2025
Epstein Docs From JPMorgan Case To Be Largely Unsealed
A New York federal judge agreed Friday to unseal the "great majority" of documents sought by The New York Times and The Wall Street Journal in since-settled litigation alleging JPMorgan Chase aided Jeffrey Epstein's sex-trafficking activity, finding the names of individuals who discussed Epstein with bank executives must be unsealed.
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October 27, 2025
Judge OKs $2.4M PeopleFacts Background Checks Deal
A Michigan federal judge Monday approved a $2.4 million settlement that PeopleFacts reached with a class of job-seekers whose criminal history was disclosed to potential employers, after those prospective workers had accused the background check company of making such disclosures without providing necessary notice.
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October 27, 2025
AGs Call Landlord Deals In RealPage MDL 'Weak'
A quartet of state attorneys general urged a Tennessee federal judge to hold off on approving $141.8 million in class settlements resolving claims that major landlords used RealPage to fix rent prices, arguing the "weak injunctive terms" and "meager monetary relief" interferes with their own cases.
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October 27, 2025
Ex-Startup CFO's Crypto Wire Fraud Trial Begins In Seattle
Federal prosecutors told a Seattle jury on Monday that the former chief financial officer of a Seattle-based startup committed wire fraud by funneling $35 million into his fintech venture that was wiped out during a subsequent cryptocurrency collapse, with defense counsel countering that "losing money with a bad investment is not a crime."
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October 27, 2025
Texas Defends Using 'Alien Verification' System To Vet Voters
Texas is looking to intervene in a lawsuit challenging the Trump administration's pooling of immigrants' personal data into centralized databases to help states purge voter rolls, saying that the challenge jeopardizes a "transformational" tool for doing so.
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October 27, 2025
Ore. Religious Group Loses Tax-Exempt Bid In Claims Court
An Oregon religious organization lost its challenge in the U.S. Court of Federal Claims to regain its church tax-exempt status, which the Internal Revenue Service revoked after determining that much of the group's spending personally benefited the founders' family members.
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October 27, 2025
NY Judge Orders State Agency To Issue Climate Regulations
A New York state judge on Friday sided with green groups that sued the Department of Environmental Conservation for failing to promulgate regulations implementing a climate change law that the agency says would burden residents with high costs.
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October 27, 2025
6th Circ. Judges Question FINRA's 'Voluntary' Membership
Sixth Circuit judges probed the effect on private securities regulators of a U.S. Supreme Court decision limiting the U.S. Securities and Exchange Commission's use of in-house courts Monday, though a procedural issue may thwart the appeal.
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October 27, 2025
9th Circ. OKs Gun Ban For Suspect Who Brought Gun To Court
The Ninth Circuit on Monday revived the indictment of a man who brought a loaded handgun into an Idaho state court, finding that a no-contact order banning him from possessing a firearm does not violate his Second Amendment rights.
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October 27, 2025
AbbVie Defends Challenge Of Colorado's Discount Drug Law
AbbVie defended its lawsuit challenging a Colorado law it says conflicts with federal law by forcing manufacturers to sell drugs at steep discounts to Walgreens, CVS and other pharmacy chains, telling a federal judge that the state compels the biotech company to sell more discounted drugs than federal law requires.
Expert Analysis
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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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DOJ's New Initiative Puts Title IX Compliance In Spotlight
Following the federal government's recent guidance regarding enhanced enforcement of discrimination on the basis of sex, organizations should evaluate whether they fall under the aegis of Title IX's scope, which is broader than many realize, and assess discrimination prevention opportunities, say attorneys at Foley & Lardner.
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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.
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Ch. 11 Ruling Voiding $2M Litigation Funding Sends A Warning
A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a completely drawn down $2 million litigation funding agreement serves as a warning for estate administrators and funders to properly disclose the intended financing, say attorneys at Kleinberg Kaplan.
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DOJ's Novel Cybersecurity FCA Case Is A Warning To Medtech
The U.S. Department of Justice's recent False Claims Act settlement with Illumina over alleged cybersecurity deficiencies suggests that enforcement agencies and whistleblowers are focusing attention toward cybersecurity in life sciences and medical tech, but also reveals key unanswered questions about the legal viability of such allegations, say attorneys at Morgan Lewis.
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Why Fla. Ruling Is A Call To Action For Foreclosure Counsel
A Florida state court's recent decision in Open Range Properties v. AmeriHome Mortgage has sent ripples through the banking industry and the legal community, and signals a new era of heightened scrutiny and procedural rigor in foreclosure litigation, says Andrew McBride and Adams & Reese.
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Insuring Against FCA Risk In Shifting Trade Landscape
In today's heightened trade enforcement environment, companies should proactively assess whether their insurance programs are positioned to respond to potential False Claims Act or customs-related claims, including reviewing directors and officers, professional liability, and representations and warranties policies for key terms, say attorneys at Pillsbury.
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What To Expect As Trump's 401(k) Order Materializes
Following the Trump administration’s recent executive order on 401(k) plan investments in alternative assets like cryptocurrencies and real estate, the U.S. Department of Labor and the U.S. Securities and Exchange Commission will need to answer several outstanding questions before any regulatory changes are implemented, say attorneys at Cleary.
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Demystifying The Civil Procedure Rules Amendment Process
Every year, an advisory committee receives dozens of proposals to amend the Federal Rules of Civil Procedure, most of which are never adopted — but a few pointers can help maximize the likelihood that an amendment will be adopted, says Josh Gardner at DLA Piper.
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How The 5th, DC Circuits Agreed On FCC Forfeiture Orders
The Fifth and D.C. Circuits split this year on the Federal Communications Commission's process for adjudicating enforcement actions, but both implicitly recognized the problem with penalizing a party based on a forfeiture order that has not yet been challenged in any way in court, says Jared Marx at HWG.
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FTC, CoStar Cases Against Zillow May Have Broad Impact
Zillow's partnerships with Redfin and Realtor.com have recently triggered dual fronts of legal scrutiny — an antitrust inquiry from the Federal Trade Commission and a mass copyright infringement suit from CoStar — raising complex questions that reach beyond real estate, says Shubha Ghosh at Syracuse University College of Law.
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'Solicit' Ruling Offers Proxy Advisers Compliance Relief
The D.C. Circuit recently found that proxy voting advice does not fall under the legal definition of "solicitation," significantly narrowing the U.S. Securities and Exchange Commission's regulatory power over such advisers, offering stability to the proxy advisory industry and providing temporary relief from new compliance burdens, say attorneys at Sheppard Mullin.
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SAM Update May Ease Tricky Timing Technicalities
The Federal Acquisition Regulatory Council's recent rule update, clarifying the System for Award Management's registration requirement, may reduce the number of disqualifications and bid protests resulting from minor lapses, but government contractors should still implement procedures to ensure early submission of registration renewals, say attorneys at Butzel Long.
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Evaluating The SEC's Rising Whistleblower Denial Rate
The rising trend of U.S. Securities and Exchange Commission whistleblower award claim denials represents a departure from the SEC's previous track record and may reflect a more conservative approach to whistleblower award determinations under the current administration, say attorneys at Troutman Pepper.
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State Crypto Regs Diverge As Federal Framework Dawns
Following the Genius Act's passage, states like California, New York and Wyoming are racing to set new standards for crypto governance, creating both opportunity and risk for digital asset firms as innovation flourishes in some jurisdictions while costly friction emerges in others, say attorneys at Sheppard Mullin.