Fintech

  • January 27, 2022

    IP Forecast: S&P To Fight Claims Its TM Suit Came Too Late

    S&P Global will ask a Delaware federal judge next week to keep alive parts of its trademark suit against a call service center named S&P Data, in the face of claims that lawyers for the market ratings giant knew about the name of the smaller business for years before suing. Here's a look at that case — plus all the other major intellectual property matters on deck in the coming week.

  • January 27, 2022

    FTC Says Social Media Is A 'Gold Mine' For Crypto Scammers

    Facebook, Instagram and other social media platforms are a "gold mine" for scammers, according to a new consumer protection data report from the U.S. Federal Trade Commission, which said last year saw a sharp spike in online fraud schemes, particularly bogus cryptocurrency ventures.

  • January 27, 2022

    Lil Yachty Says NFT Biz Used His TMs To Boost Cash Flow

    Rapper Lil Yachty filed a trademark infringement suit in California federal court against two music companies he claims used his likeness and name without his permission to raise over $6.5 million in venture capital funds for a line of nonfungible tokens.

  • January 27, 2022

    Attys Get $3M For Repping Chinese Fintech Firm's Investors

    A legal team comprising attorneys from the Rosen Law Firm PA, Robbins Geller Rudman & Dowd LLP and Scott+Scott Attorneys at Law LLP will receive a $3 million fee for representing inventors in the digital consumer finance company previously known as PPDAI Group Inc., a federal magistrate judge in New York determined.

  • January 27, 2022

    5 Breyer Opinions For Financial Services Attys To Know

    U.S. Supreme Court Justice Stephen Breyer's views on issues like securities fraud liability, antitrust enforcement and federal preemption have left their mark on the financial services legal landscape. Here, Law360 looks at some of his key opinions in the field as the longtime liberal justice heads for the exit.

  • January 27, 2022

    The Term: Breyer's Legacy And The Nomination To Come

    Justice Stephen Breyer on Thursday formally announced he would be retiring at the end of the Supreme Court term. Here, The Term breaks down the legacy he will leave behind and takes a look at what lies ahead for his potential successor with two special guests.

  • January 27, 2022

    SEC Calls Out Private Fund Advisers' Fee, Disclosure Lapses

    The U.S. Securities and Exchange Commission on Thursday highlighted a list of failures it says were committed by private fund advisers over a five-year examination period, including botched fee calculations, overcharges and a host of disclosure lapses.

  • January 27, 2022

    Breyer Retiring As Supreme Court Lurches Right

    Justice Stephen Breyer is retiring from the U.S. Supreme Court at a time when his conservative colleagues on the bench seem intent on dismantling landmark precedents on abortion, affirmative action and the administrative state, to name a few. Can his successor preserve his liberal legacy?

  • January 27, 2022

    Fireblocks Says $550M Fundraise Yielded Record Valuation

    Fireblocks said Thursday it raised a whopping $550 million in a Series E funding round valuing the company at $8 billion, which it touted as the highest valuation for a digital-asset infrastructure business.

  • January 27, 2022

    Apple Can't Hide Behind Privacy In Epic Fight, 9th Circ. Told

    Nearly 40 law, business and economics academics urged the Ninth Circuit on Thursday to upend Apple's win over Epic Games' allegations that the technology giant's App Store policies are anti-competitive, arguing the judge wrongly accepted Apple's justifications that restrictions on third-party app distribution are necessary to protect users.

  • January 27, 2022

    Robinhood Defeats Investors' 'Meme Stock' Claims

    Robinhood on Thursday defeated claims that it wrongly blocked investors from buying "meme stocks" during last year's market volatility, with a Florida federal court finding the stock-trading platform acted within the scope of its customer agreement.

  • January 27, 2022

    Judge Jackson Back In Spotlight As High Court Contender

    The upcoming vacancy on the U.S. Supreme Court quickly threw the spotlight back on D.C. Circuit Judge Ketanji Brown Jackson, a former clerk for Justice Stephen Breyer whose stature as a likely successor to the retiring justice was suddenly raised Wednesday.

  • January 27, 2022

    Deals Rumor Mill: Nvidia, Unilever, Kim Kardashian's Skims

    Nvidia will ditch its $40 billion purchase of U.K. semiconductor company Arm, activist billionaire Nelson Peltz has amassed a stake in European consumer goods giant Unilever, and Kim Kardashian's Skims brand has achieved a $3.2 billion valuation. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • January 27, 2022

    Biden At His Side, Justice Breyer Announces Retirement

    Supreme Court Justice Stephen Breyer joined President Joe Biden at the White House Thursday to formally announce his retirement, kicking off a rush among Democrats to confirm a new member of the court to replace the oldest serving justice.

  • January 26, 2022

    Attys Get $2.7M Of $12M Wells Fargo Mortgage Glitch Deal

    Attorneys representing Wells Fargo home loan customers will receive a $2.7 million fee for their work on a class action over technical glitches affecting the bank's automated mortgage loan modification tools.

  • January 26, 2022

    Illinois Man Accuses Online Tribal Lenders of Predatory Loans

    An Illinois debtor has filed a proposed class action against a group of online tribal lending companies for allegedly issuing illegal high-interest loans, adding to a trend of similar complaints across the country that accuse unscrupulous lenders of using tribes as a mere front to gain immunity from prosecution.

  • January 26, 2022

    Democrats Plan Swift Confirmation Of Breyer Successor

    The U.S. Senate's Democratic leaders pledged Wednesday to move swiftly to confirm a successor for U.S. Supreme Court Justice Stephen Breyer, who is expected to formally announce his retirement Thursday.

  • January 26, 2022

    Feds Say Crypto Exchange Founder Stole $1M In Client Funds

    Federal authorities on Wednesday unsealed charges against the founder and former operator and chief executive officer of a major cryptocurrency exchange in Miami, accusing him of a complex scheme to steal customers' funds.

  • January 26, 2022

    Sullivan & Cromwell, Fenwick Steer $1.4B UBS Fintech Buy

    Swiss bank UBS said Wednesday it will acquire automated wealth management company Wealthfront in a $1.4 billion deal guided by Sullivan & Cromwell and Fenwick & West that the banking heavyweight hopes will expand its reach among wealthy U.S. customers.

  • January 26, 2022

    Crypto Exchange FTX US Hits $8B Valuation In Series A

    FTX US, the U.S. affiliate of global cryptocurrency exchange FTX.com, said Wednesday it had raked in $400 million in a whopping Series A round that valued the young company at $8 billion.

  • January 26, 2022

    SEC Seeks To Beef Up Regs On Treasury Trading Platforms

    The U.S. Securities and Exchange Commission on Wednesday proposed rules to increase oversight of unregistered venues that match buyers and sellers of Treasurys and other government securities, saying the status quo lacks investor safeguards.

  • January 26, 2022

    Crypto Laundering Jumped To $8.6B In 2021, Data Firm Finds

    The value of cryptocurrency laundered in 2021 jumped 30% from the prior year to $8.6 billion, but regulators could strike a "huge blow" against the illicit activity if they focus on a small group of services used to move the dirty digital money, according to a report from crypto data provider Chainalysis on Wednesday.

  • January 26, 2022

    Meet The Possible Nominees For Justice Breyer's Seat

    President Joe Biden has promised to nominate the first-ever Black woman to the nation's highest court. Here we look at the contenders for Justice Stephen Breyer's seat, including one notable front-runner.

  • January 26, 2022

    CFPB Puts Financial 'Junk Fees' In Crosshairs

    The Consumer Financial Protection Bureau called Wednesday for the public to dish dirt on their experiences with excessive "junk fees" charged by banks and other financial companies as part of a new agency initiative aimed at cutting costs for consumers.

  • January 26, 2022

    'Just Do Your Job': Justice Breyer's Legacy Of Pragmatism

    With the coming retirement of Justice Stephen Breyer, the U.S. Supreme Court loses not only a core member of its liberal bloc, but also a judicial thinker who cares deeply about making the law work on a practical level, those who worked with him said.

Expert Analysis

  • How AI Can Transform Crisis Management In Litigation

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    Attorneys should understand how to use rapidly advancing artificial intelligence technology to help clients prepare for potential catastrophic events and the inevitable litigation arising from them, from predicting crises before they occur to testing legal theories once they arise, say Stratton Horres at Wilson Elser and David Steiger.

  • Supervisor Relationships Are Key To Beating Atty Burnout

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    In order to combat record attorney turnover and high levels of burnout, law firm partners and leaders must build engaging relationships with supervisees, fostering autonomy and control, enabling expression of values, and building a sense of community and belonging, says Anne Brafford at the Institute for Well-Being in Law.

  • What Stablecoin Industry Can Expect From Congress In 2022

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    As congressional scrutiny of the crypto-asset industry grows, stablecoin issuers and exchanges should anticipate new legislative proposals and regulatory developments, as well as further inquiries and oversight action, from both parties in Congress this year, say attorneys at Debevoise.

  • The Rising Demand For Commercial Litigators In 2022

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    Amid broken supply chains, pandemic-induced bankruptcies and a rise in regulation by litigation, strong commercial litigators — strategists who are adept in trying a range of tortious and contractual disputes — are becoming a must-have for many law firms, making this year an opportune moment to make the career switch, say Michael Ascher and Kimberly Donlon at Major Lindsey.

  • 3 Cybersecurity Imperatives For Financial Cos. This Year

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    With cyberattacks and regulatory scrutiny both expected to increase in 2022, financial services companies should consider important compliance strategies to protect against cyber risks and enforcement actions, says Shardul Desai at Holland & Knight.

  • Opinion

    Money Laundering Regs Too Unwieldy To Police Art Market

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    As the arts and antiquities trade awaits the U.S. Department of the Treasury's new money laundering regulations — which apply the Bank Secrecy Act to the arts for the first time — whether they are reasonable, optimal or practical remains in question, says Alexandra Darraby at The Art Law Firm.

  • Takeaways From White Collar Criminal Enforcement In 2021

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    White collar criminal prosecutions were up in 2021, with recent high-profile fraud trials, the Biden administration's enforcement priorities and the continuing effects of the COVID-19 pandemic potentially reversing the previous trend of slumping white collar prosecutions, say attorneys at Keker Van Nest.

  • 5 Advertising Law Trends To Watch

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    For the world of advertising, 2022 will bring new compliance challenges and considerations shaped by legal developments in everything from nonfungible-token commerce in the metaverse to the ever-growing impact of social media on young users, say Jason Gordon and Deborah Bessner at Reed Smith.

  • How In-House Counsel Can Make The Case For Settling Early

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    Following the recent settlement in McDonald's v. Easterbrook, in-house counsel should consider decision-tree analyses and values-driven communications plans to secure effective, early resolutions in litigation, saving time and money and moving the company mission forward, say Ronald Levine at Herrick Feinstein and Richard Torrenzano at The Torrenzano Group.

  • To Retain Talent, GCs Should Prioritize Mission Statements

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    With greater legal demands and an increasing number of workers resigning during the pandemic, general counsel should take steps to articulate their teams' values in departmental mission statements, which will help them better prioritize corporate values and attract and retain talent, says Catherine Kemnitz at Axiom.

  • Why US Businesses May Stop Accepting Cryptocurrency

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    New reporting requirements from the IRS and Financial Crimes Enforcement Network could be game changers that dramatically curtail U.S. businesses that accept cryptocurrency, says cybersecurity consultant John Reed Stark.

  • What Retailers Selling NFTs Must Know About Legal Regimes

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    Alan Cohn and Evan Abrams at Steptoe & Johnson provide an overview of legal regimes that can present challenges for retailers entering the popular nonfungible token sector, and discuss how to determine which of these systems are likely to apply to intended operations.

  • Opportunities And Legal Implications In The Metaverse

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    Attorneys at Ropes & Gray explore the underlying technologies of Web3, discuss the concept of the metaverse and its commercial opportunities, and examine associated legal considerations, from trademark protection to the application of existing securities laws in decentralized, blockchain-based systems.

  • Recent Bias Suits Against Law Firms And Lessons For 2022

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    2021 employment discrimination case filings and developments show that law firms big and small are not immune from claims, and should serve as a reminder that the start of a new year is a good time to review and update salary, promotion and leave policies to mitigate litigation risks, says Hope Comisky at Griesing Law.

  • Opinion

    SEC Should Follow Congress' Pragmatic Approach On Crypto

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    The U.S. Securities and Exchange Commission must adapt its regulatory scheme for digital assets — not the other way around — and should take a cue from an expected cryptocurrency bill that recognizes the new technology is incongruent with regulations adopted under the decades-old securities laws, says J.W. Verret at George Mason University.

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