The Second Circuit on Tuesday upheld the dismissal of a lawsuit accusing Goldman Sachs and Morgan Stanley of profiting off insider knowledge that the investment firm Archegos Capital Management was about to collapse, ruling that the companies had no duty to withhold from trading on the information.
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WEDNESDAY, SEPTEMBER 17, 2025 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Goldman, Morgan Stanley Beat Archegos Suit At 2nd Circ.

By Jessica Corso

The Second Circuit on Tuesday upheld the dismissal of a lawsuit accusing Goldman Sachs and Morgan Stanley of profiting off insider knowledge that the investment firm Archegos Capital Management was about to collapse, ruling that the companies had no duty to withhold from trading on the information.

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4th Circ. Revives RICO Claims On Amazon Project Kickbacks

By Nate Beck

The Fourth Circuit in a published decision Tuesday revived racketeering and other claims from Amazon.com Inc. after two former employees, a real estate developer and an attorney operated a kickback scheme as the company spent hundreds of millions of dollars on a set of data center projects in northern Virginia.

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Brief

Starbucks Resolves Swipe Fee Claims With BofA, Mastercard

By Gina Kim

Starbucks is the latest retailer to settle claims in an antitrust action Tuesday in New York federal court alleging Mastercard, Bank of America and several other financial institutions were part of an illegal scheme forcing merchants to pay excessive fees when shoppers pay with their credit or debit cards. 

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Texas AG Probes Glass Lewis, ISS On ESG Advice

By Spencer Brewer

The Texas Office of the Attorney General launched an investigation into Glass Lewis & Co. and Institutional Shareholder Services Inc., claiming Tuesday the proxy advisory firms misled public companies and institutional investors to push for left-wing social causes.

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Travelers Must Cover Scholastic's IP Suit Costs, Not Damages

By Elliot Weld

A Manhattan federal judge has ruled that a Travelers unit must cover Scholastic Inc. for costs incurred in its defense and settlement of a trademark and copyright infringement suit, but not pay consequential damages Scholastic had sought.

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REAL ESTATE & DEVELOPMENT

Wash. Charitable Limits Don't Apply To Firefighter House Sale

By Jaqueline McCool

The Seattle Black Firefighters' Association is not a charitable organization, the Washington Court of Appeals said, affirming a lower court ruling that found the house the association occupies is not subject to charitable purpose restrictions.

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INSURANCE

Insurer Says Overturned Truck In Fatal Crash Not Covered

By Ganesh Setty

A Progressive unit that provided commercial auto insurance for a concrete company told a Texas state court it should owe no defense or indemnity in a wrongful death lawsuit involving an overturned cement truck, arguing the insurer did not directly insure the vehicle.

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INTELLECTUAL PROPERTY

Judge Orders Bench Trial On Key Issue In Sirius Patent Case

By Elliot Weld

A Delaware federal judge has ordered a bench trial on the issue of whether Sirius XM relied on a German research foundation's five-year delay in bringing patent claims related to satellite radio technology in making business decisions around that tech.

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4th Circ. Asked To Rehear 'Inspire' Dance Team Case

By Elliot Weld

A North Carolina charter school on Tuesday asked for the full Fourth Circuit to hear its claims that two former teachers should be barred from using the name "Inspire" for their dance company, arguing that declining to block the teachers is at odds with decades of circuit precedent.

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SPORTS & BETTING

Casino Giant Urges Fla. Court To Toss Bahamas Fraud Suit

By David Minsky

U.S.-based casino operator Genting Americas Inc. has urged a Florida federal court to dismiss a lawsuit alleging that it used a resort in the Bahamas to obscure fraudulent activities, saying the suing real estate company failed to deliver a proper amended derivative complaint ordered by a judge. 

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EMPLOYMENT

Bakery Drivers Are Exempt From Arbitration, 2nd Circ. Told

By Aaron Keller

Two Connecticut delivery drivers asked the Second Circuit on Tuesday to reverse an order sending their employment misclassification lawsuit to arbitration, arguing the Federal Arbitration Act doesn't apply to workers engaged in interstate commerce and cuts through contracts that purportedly cast them as independent contractors.

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SECURITIES & WHITE COLLAR

Avalara Investors' Claims Pass Muster After 9th Circ. Revival

By Katryna Perera

A Washington federal judge has allowed a proposed class action to proceed accusing tax software company Avalara Inc. of misleading investors ahead of an $8.4 billion deal to take the company private, but said the suit failed to adequately allege negligence by individual board members, giving investors one week to amend those claims.

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Miami Hospital's Ex-COO Admits To Embezzling $4.3M

By David Minsky

The former chief operating officer of the fundraising arm for a taxpayer-funded Miami health system pled guilty to a wire fraud charge in Florida federal court, admitting to embezzling $4.3 million from the nonprofit and receiving kickbacks after submitting false vendor invoices. 

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COMPETITION

USDOT Orders Scuttling Of Delta-Aeromexico Joint Venture

By Linda Chiem

The Trump administration has ordered Delta Air Lines and Aeromexico to scuttle their joint venture by Jan. 1, saying they gained an unfair advantage in the market after the Mexican government abruptly restricted flights from other carriers at Mexico City's primary airport.

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IMMIGRATION

'Incurably Premature': Suit Over Alleged EB-5 Rule Tossed

By Rae Ann Varona

A Seattle federal judge on Monday tossed an immigrant investor's lawsuit challenging an allegedly arbitrary action that resulted in U.S. Citizenship and Immigration Services revoking her visa petition, saying she could not sue since she did not first exhaust administrative remedies.

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CANNABIS

NY Cannabis License At Center Of Suit Against Fla. Broker

By Sam Reisman

The entrepreneurs who secured one of the earliest New York cannabis retail licenses as part of a legal settlement with the state allege in a new California state lawsuit that a Florida cannabis franchise broker frustrated their effort to sell a share of the venture.

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EXPERT ANALYSIS

FTC Actions Highlight New Noncompete Enforcement Strategy

Several recent noncompete-related actions from the Federal Trade Commission — including its recent dismissal of cases appealing the vacatur of a Biden-era noncompete ban — reflect the commission's shift toward case-by-case enforcement, while confirming that the agency intends to remain active in policing such agreements, say attorneys at Debevoise.

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7 Document Review Concepts New Attorneys Need To Know

For new associates joining firms this fall, stepping into the world of e-discovery can feel like learning a new language, but understanding a handful of fundamentals — from coding layouts to metadata — can help attorneys become fluent in document review, says Ann Motl at Bowman and Brooke.

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LEGAL INDUSTRY

Ex-Calif. Judge Gets 35 Years For Shooting Wife To Death

By Gina Kim

Former California state court judge Jeffrey M. Ferguson lost his bid for a new trial Wednesday and was sentenced to 35 years to life in prison for shooting his wife to death at home in a drunken rage, with the presiding judge expressing sympathy for his "extraordinary" son who tried to save his mother's life.

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7th Circ. Pick Shrugs Off Conservative Group's Opposition

By Courtney Bublé

During her confirmation hearing on Wednesday, Rebecca Taibleson, a federal prosecutor in Wisconsin tapped for the Seventh Circuit, fended off opposition to her nomination from conservative groups, antipathy that the top Democrat on the Senate Judiciary Committee called a "new low" for the committee.

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House Votes To End DC Judicial Nominations Commission

By Courtney Bublé

The U.S. House of Representatives voted 218-211 along party lines on Wednesday to eliminate the commission that vets and picks potential judicial nominees for Washington, D.C.'s local courts.

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Retired Judges Speak Out On 'Threats' To Constitution

By Courtney Bublé

More than 40 retired federal judges appointed by presidents of both parties released an open letter Wednesday, the anniversary of the signing of the Constitution, saying they sought to underscore the importance of the rule of law at a time when the nation's ideals "are under historic strain."

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Giuliani Must Pay Attys $1.4M After Missing Bills Claim Fails

By Adrian Cruz

A New York state judge has awarded nearly $1.4 million to Davidoff Hutcher & Citron LLP in its lawsuit accusing former New York City Mayor Rudy Giuliani of racking up unpaid legal bills for the firm's work in various criminal, civil and administrative matters.

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Criminal Restitution Fails Defendants, Victims, Report Says

By Brandon Lowrey

Federal criminal restitution often fails to benefit victims of crime and throws defendants into a "Sisyphean struggle" with debt, with $100 billion in outstanding restitution deemed uncollectable, according to a report released this week by the National Association of Criminal Defense Lawyers.

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SEC Policy Shift Could Foreclose Some Investor Class Actions

By Jessica Corso

The U.S. Securities and Exchange Commission issued a policy statement Wednesday that allows the use of mandatory arbitration by new publicly traded companies as its chief seeks to "make IPOs great again," but Democrats warned the move could shut the door to shareholder class actions.

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Ex-Law Student's Bias Suit In Wrong Forum, 4th Circ. Told

By Patrick Hoff

A Black former student at Washington University School of Law shouldn't be able to revive claims that she was suspended from campus and lost her scholarship after complaining about a professor's race bias because she filed the suit in the wrong state, the law school told the Fourth Circuit.

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LAW FIRMS IN TODAY'S NEWS

Anderson Kill

Badgley Mullins

Barnes & Thornburg

Bell Rosquete

Berger Montague

Bilzin Sumberg

Bowman & Brooke

Brownstein Hyatt

Burr & Forman

Cleary Gottlieb

Constantine Cannon

Cooley LLP

David A Howard PA

Davidoff Hutcher

Davis Polk

Davis Wright Tremaine

Debevoise & Plimpton

Farnan LLP

Fleming Nolen

Gibson Dunn

Grant & Eisenhofer

HSF Kramer

Harman Claytor

Hogan Lovells

Ifrah Law

Irell & Manella

Johnson Fistel

Kernkamp Law

Kurzban Kurzban

Law Office of Craig Leydecker

Lewis Rice

Lichten & Liss Riordan

Littler Mendelson

Morrison & Foerster

Patterson Belknap

Paul Weiss

Pomerantz LLP

Potter Anderson

Rivkin Radler

Rosca Scarlato

Saul Ewing

Scott&Scott

Shinder Cantor

Shumaker Loop

Sidley Austin

Skadden Arps

Troutman

Vogel Law Firm

Walker Kiger

Walters Balido

Yetter Coleman

COMPANIES IN TODAY'S NEWS

7-Eleven Inc.

Amazon.com Inc.

American Family Association

American International Group Inc.

Avalara Inc.

Bank of America Corp.

Circle K Stores Inc.

Citigroup Inc.

Dell Technologies Inc.

Delta Air Lines Inc.

Families Against Mandatory Minimums

Fraunhofer-Gesellschaft

Genting Group

Georgia State University

Glass Lewis & Co. LLC

Grupo Aeromexico SAB de CV

Gucci Group NV

Institutional Shareholder Services Inc.

JPMorgan Chase & Co.

Jackson Health System

LVMH Moet Hennessy

Major League Baseball Inc.

Marathon Petroleum Corp.

MasterCard Inc.

Morgan Stanley

National Association of Criminal Defense Lawyers

New York Yankees

Paramount Global

Ready Mix USA

Ryan LLC

Scholastic Corporation

Sirius XM Radio Inc.

Starbucks Corp.

Target Corp.

The District of Columbia Bar

The Executive Compensation Group Inc.

The Goldman Sachs Group Inc.

Visa Inc.

Vista Equity Partners Management LLC

Wells Fargo & Co.

GOVERNMENT AGENCIES IN TODAY'S NEWS

Commodity Futures Trading Commission

Executive Office of the President

Federal Election Commission

Federal Trade Commission

Government of Mexico

New York Office of Cannabis Management

New York Supreme Court, New York County

Port of Bellingham

Texas Attorney General's Office

U.S. Attorney's Office for the Eastern District of North Carolina

U.S. Attorney's Office for the Southern District of Florida

U.S. Attorney's Office for the Western District of Washington

U.S. Citizenship and Immigration Services

U.S. Court of Appeals for the Eleventh Circuit

U.S. Court of Appeals for the Fifth Circuit

U.S. Court of Appeals for the Fourth Circuit

U.S. Court of Appeals for the Second Circuit

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. Department of Transportation

U.S. District Court for the District of Columbia

U.S. District Court for the District of Delaware

U.S. District Court for the Southern District of Florida

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Texas

U.S. District Court for the Western District of Washington

U.S. House of Representatives

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court