Kirkland-Led Madison Air Prices Largest IPO Of 2026 At $2.2B

By Jade Martinez-Pogue

Air ventilation and filtration company Madison Air Solutions made its public trading debut Thursday after pricing a blockbuster $2.2 billion initial public offering, marking the largest IPO of 2026 so far.

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Davis Polk, Ropes & Gray Lead Defense Tech Firm Arxis' $1.1B IPO

By Nate Beck

Bloomfield, Connecticut-based aerospace parts manufacturer Arxis said it raised $1.1 billion after pricing shares at the top of their range in a Thursday initial public offering advised by Davis Polk & Wardwell LLP and Ropes & Gray LLP.

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9th Circ. Judge Rips 'Sophistry' By Online Prediction Markets

By Dorothy Atkins

A Ninth Circuit judge appeared skeptical Thursday of requests by KalshiEX LLC, Crypto.com and Robinhood to block Nevada from enforcing state gambling laws against sports and election-related contracts, telling Robinhood's counsel "I don't buy" the companies' regulatory interpretation and slamming a Crypto.com argument as "sophistry to the nth degree."

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Latham-Led Nuclear Power Supplier X-Energy Eyes $750M IPO

By Rae Ann Varona

X-Energy Inc., which develops advanced nuclear reactors and fuel technology, is looking to raise $750 million in an upcoming initial public offering guided by Latham & Watkins LLP, the company has announced.

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Trump Depo Bid Can't Justify Trial Delay, Fla. Judge Rules

By David Minsky

A Florida state court judge on Thursday declined to pause a lawsuit over taking Trump Media & Technology Group public, saying the backers of President Donald Trump's Truth Social platform haven't shown good reason to delay a July trial start date while they appeal an order denying their bid to depose the president. 

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Cleary Helps Uzbekistan Fund Win $300M Backing In UK IPO

By Najiyya Budaly

Uzbekistan's sovereign wealth fund said Thursday that investors including BlackRock and Franklin Templeton have agreed to plow $300 million into its proposed initial public offering as it confirmed plans to float in London and Tashkent.

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CFTC's Selig Pushes Back On Lawmakers' Staffing Concerns

By Aislinn Keely

U.S. Commodity Futures Trading Commission Chair Michael Selig on Thursday dismissed lawmakers' concerns that his agency may be understaffed for a widening mandate that includes policing prediction markets, and insisted he won't delay rulemaking while he waits for the president to appoint other commissioners.

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SEC Queries Public On Possible CAT Replacement

By Jessica Corso

The U.S. Securities and Exchange Commission is asking the public how it might overhaul a key market surveillance tool to cut down on cost overruns and confront legal challenges, floating the question Thursday of whether the database should exist at all in its current form.

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Fed Orders Georgia Bank To Halt Dividends, Raise Capital

By Sarah Jarvis

The Federal Reserve Board on Thursday ordered a Georgia bank holding company to retain and raise capital as part of a consent order tied to its small business and agricultural lending that examiners raised concerns about earlier this year.

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OCC Lifts JPMorgan's Trade Surveillance Consent Order

By Jon Hill

The Office of the Comptroller of the Currency said Thursday it has ended a Biden-era consent order with JPMorgan Chase over its trade surveillance monitoring, which was at the center of hundreds of millions of dollars in fines for the banking giant two years ago.

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Kalshi Rejects Returning Enforcement Case To State Court

By Susan Smiley

Prediction market platform Kalshi contends that a suit brought against the company by Michigan's attorney general alleging violations of state gambling laws should stay in federal court and not be remanded to state court.

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Brief

Paul Hastings Guides Schwab On Retail Crypto Launch

By Katryna Perera

Charles Schwab on Thursday announced the launch of its new spot cryptocurrency trading offering that will provide retail clients direct access to bitcoin and ethereum trading, developed with the guidance of Paul Hastings LLP.

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Capital One Hit With Class Action Over Canceled Rewards

By Katryna Perera

Capital One has been hit with a proposed class action in Virginia federal court accusing it of unlawfully canceling billions of dollars in earned credit card rewards by unilaterally closing customers' accounts without cause.

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SEC Heads To Court To Collect $193K From Day Trader

By Emilie Ruscoe

A New York federal judge has ordered a former day trader to explain why he still owes the U.S. Securities and Exchange Commission over $193,000 nearly four years after he agreed to settle the regulator's claims that he manipulated prices for certain securities in the final minutes of trading days.

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Calif. Trader Raised $40M In Ponzi-Like Fraud, Feds Say

By Sydney Price

The head of a California-based trading firm has been accused by federal prosecutors and the U.S. Securities and Exchange Commission of defrauding at least 400 investors out of about $40 million with false representations about his success and Ponzi-like payments.

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Sazerac Pitches $15B Brown-Forman Buy, Plus More Rumors

By Jade Martinez-Pogue

Alcoholic drink giant Sazerac has offered to acquire Jack Daniel's maker Brown-Forman for $15 billion, United Airlines CEO pitched a mega-merger with rival American Airlines to President Donald Trump, and popular pizza chains Papa John's and Pizza Hut are considering new ownership.

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Gibson Dunn-Led Diginex Snags Resulticks In $1.5B Deal

By Jade Martinez-Pogue

Gibson Dunn & Crutcher LLP-advised Diginex Ltd. on Thursday announced plans to acquire customer engagement solutions provider Resulticks Global Companies Pte. Ltd. in an all-share deal valued at $1.5 billion.

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Multi-Color Wins OK For Ch. 11 Plan Cutting $3.9B In Debt

By Alex Wittenberg

A New Jersey bankruptcy judge on Thursday confirmed Multi-Color Corp.'s reorganization plan less than three months after the label-maker sought Chapter 11 protection, allowing the company to slash $3.9 billion in debt and raise $889 million in new capital.

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Sentencing Commission Votes To Enact Modest Reform Agenda

By Stewart Bishop

The U.S. Sentencing Commission on Thursday voted to enact multiple revisions to the federal sentencing guidelines, including the first inflationary adjustment in over a decade for calculating penalties for economic crimes, but declined to take action on a series of more transformational changes that were under consideration.

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Series

Isshin-Ryu Karate Makes Me A Better Lawyer

My involvement in martial arts, specifically Isshin-ryu, which has principles rooted in the eight codes of karate, has been one of the most foundational in the development of my personality, and particularly my approach to challenges — including in my practice of law, says Kaitlyn Stone at Barnes & Thornburg.

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Meta, Uber Verdicts Top Product Liability Trials

By Emily Field

This year has brought major courtroom setbacks for tech platforms and app companies. Juries issued headline-making verdicts against Meta and Google over claims their platforms harm young users, while Uber lost its first federal bellwether trial over driver assaults and now faces a second sexual assault case.

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Analysis

Bondi's Contempt Defenses Are Strong, But Not Without Risk

By Phillip Bantz

Former U.S. Attorney General Pam Bondi currently has some potentially powerful defenses against Congress' relatively limited abilities to force her to comply with a subpoena to be deposed under oath about the Epstein files, but her exposure to being held in criminal contempt could shift with the political winds, experts said.

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Calif. Lawyer Sues Over State Bar Investigations

By Andrea Keckley

A California trial lawyer claimed in a federal lawsuit filed Wednesday that he has been unfairly investigated by the state bar since 2019, alleging the office "illegally prioritizes revenue-generation over protection of the public."

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Analysis

AGs' Win Over Live Nation Leaves DOJ Watching From The Side

By Bryan Koenig

Live Nation Entertainment Inc.'s across-the-board trial rout by 34 state attorneys general underscores the ascendancy of state antitrust enforcers looking to fill perceived enforcement gaps left by the U.S. Department of Justice during President Donald Trump's second term.

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NJ US Atty's Office Turmoil Doesn't Nix Conviction, Judge Rules

By Carla Baranauckas

A federal judge on Thursday rejected a New Jersey criminal defendant's attempt to dismiss his conviction and disqualify the state's top federal prosecutor, holding that the appointment of the current U.S. attorney complies with federal law and that any earlier defects in leadership do not warrant dismissal.

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Judiciary Panel Loves Paralegal's Idea To Modernize Briefs

By Jeff Overley

An Arizona paralegal's unsolicited idea for overhauling a procedural rule governing the format of briefs found a surprisingly enthusiastic audience Thursday at a federal judiciary meeting, where prominent officials and attorneys voiced strong interest and agreed to explore the concept in earnest.

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Ramey Says Sanctions Violation Was 'Misunderstanding'

By Elliot Weld

William Ramey, an intellectual property attorney sanctioned in several federal jurisdictions, told a California federal judge Thursday that any violations of a previous sanctions order regarding his ability to practice law in the state were due to "good-faith misunderstanding of the scope of the court's order — not willful disregard."

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Judge Doubts Broad Shift In Immigration Hearing Access

By Jared Foretek

A D.C. federal judge appeared unconvinced Thursday by a human rights group's claim that the public is getting less access to immigration court hearings in Minnesota during the second Trump administration.

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Citizens Group Says 27 States Are Eyeing AI Chatbot Laws

By Joyce Hanson

Twenty-seven U.S. states are looking at passing laws to make artificial intelligence companies face liability claims in civil suits if they fail to protect consumers who interact with chatbots, while another three states have already enacted protections, according to a citizens group's new legislative tracker.

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Optimum Defends Antitrust Suit Against Apollo, BlackRock

By Alex Wittenberg

Apollo, Ares, BlackRock and other financial giants are colluding to block Optimum Communications Inc. from negotiating a debt refinancing to avert bankruptcy, acting as a "cartel" and locking Optimum out of credit markets, Optimum said in a brief opposing the investors' bid to dismiss its antitrust suit in New York.

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