Federal prosecutors on Wednesday unveiled indictments outlining a massive insider trading scheme that allegedly netted tens of millions of dollars using nonpublic information about mergers and acquisitions worked on by some of the nation's biggest law firms.
Law360
Cybersecurity & Privacy
FRIDAY, MAY 8, 2026 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

iStock-1420996522insider-trading.jpg

Feds Say Stolen BigLaw Deal Info Aided Huge Trading Scheme

By Chris Villani

Federal prosecutors on Wednesday unveiled indictments outlining a massive insider trading scheme that allegedly netted tens of millions of dollars using nonpublic information about mergers and acquisitions worked on by some of the nation's biggest law firms.

2 documents attached | Read full article » | Save to favorites »

TikTok Not Shielded From Mass. AG Case, Judge Says

By Julie Manganis

A Massachusetts judge will allow a social media addiction suit brought by the state attorney general against TikTok to proceed, rejecting claims that the company is shielded by the Communications Decency Act and the First Amendment.

Order attached | Read full article » | Save to favorites »

Meta's Exploitation Reporting Needs Work, NM Judge Told

By Cara Salvatore

An executive for a child protection organization told a New Mexico judge Wednesday that "ongoing quality issues" with Meta's reporting and the use of message encryption have made it harder to deliver actionable reports to law enforcement, as the state seeks $3.7 billion in reforms at the social media company.

Read full article » | Save to favorites »

DHS Can Withhold Some Border Search Records, Judge Says

By Elaine Briseño

A federal judge in Washington has partially sided with immigration officials' decision not to provide some information about border searches of electronic devices that a First Amendment group at Columbia University requested, finding the documents contained privileged, decision-making details.

Order attached | Read full article » | Save to favorites »

High Court Rejects Apple's Bid To Pause App Store Ruling

By Matthew Perlman

The U.S. Supreme Court on Wednesday rejected Apple's request to pause a mandate in the case from Epic Games that directs a lower court to determine what commission Apple can charge developers for purchases made outside of its app store through links.

Response attached | Read full article » | Save to favorites »

POLICY & REGULATION

Mobile Industry's Pai Calls For More Exclusive Airwaves For AI

By Christopher Cole

Major wireless carriers are looking toward a future driven by artificial intelligence, but say its full potential can only be reached if policymakers give them more access to exclusive airwaves in the prime midband range.

Read full article » | Save to favorites »

ENFORCEMENT

'GothFerrari' Gets 6.5 Years For Role In $250M Crypto Heist

By Bonnie Eslinger

A 20-year-old California man with the nickname "GothFerrari" was sentenced in federal court Wednesday to 78 months behind bars for his role in a sprawling cyber scam involving more than a dozen defendants who stole more than $250 million in cryptocurrency from people across the United States, according to prosecutors.

Read full article » | Save to favorites »

LITIGATION

Amazon Sees What You See On Your Fire TV, Users Claim

By Ben Adlin

Amazon customers claimed in a proposed nationwide class action Wednesday that the e-commerce giant's Fire TV products illegally capture and analyze everything that users see and hear through their devices, including streamed content, personal photos and security camera streams.

Complaint attached | Read full article » | Save to favorites »

Pot Patients Defend Claims In Dispensary Data Privacy Suit

By Mike Curley

A group of medical cannabis patients are pushing back on a bid from a technology company to dismiss their claims that it shares their medical information with outside vendors, saying they have sufficiently pled their allegations that they did not consent to such sharing and they were injured by the disclosure.

Response attached | Read full article » | Save to favorites »

Home Security Firms Hit With TCPA Suit Over Sales Calls

By Matthew Santoni

A pair of home security companies violated the federal Telephone Consumer Protection Act by making unsolicited robocalls to try and sell security systems, according to a proposed class action filed in a Pennsylvania federal court.

Complaint attached | Read full article » | Save to favorites »

Booz Allen Says Fla. Senator's Tax Leak Suit Is Too Late

By Carolina Bolado

U.S. Sen. Rick Scott, R-Florida, waited too long to file a lawsuit over the leak of his personal tax returns, according to federal contractor Booz Allen Hamilton, which moved to dismiss the suit Tuesday.

Motion attached | Read full article » | Save to favorites »

Conn. Credit Union Says Data Breach Anxiety Can't Spur Suit

By Brian Steele

Threats of future harm and "generalized anxiety" about possible identity theft are not enough to support a proposed class action against a Connecticut credit union hit with a data breach, and there's no reason to believe cybercriminals accessed member accounts, the defense has told a federal court in seeking dismissal.

Motion attached | Read full article » | Save to favorites »

Citizens Bank Customer Says Software Vendor Leaked Info

By Sydney Price

Communications software company Sefas Innovation Inc. has been hit with a proposed class action in Massachusetts federal court accusing it of failing to safeguard the data of its clients' customers from cybercriminals, resulting in a breach of its records in April.

Complaint attached | Read full article » | Save to favorites »

EXPERT ANALYSIS

High Court's Cox Ruling Leaves ISP Copyright Rules Intact

Though some commentators predicted a cataclysmic impact from the U.S. Supreme Court's recent decision in Cox v. Sony, in actuality the decision correctly maintains the status quo for internet providers' copyright infringement liability, says Courtney Sarnow at CM Law.

Read full article » | Save to favorites »

LEGAL INDUSTRY

Womble Bond Atty's 'Draconian' Penalty Gives 4th Circ. Pause

By Hayley Fowler

A Fourth Circuit panel seemed to struggle Thursday with what one judge described as a "draconian" contempt order against a Womble Bond Dickinson partner, with the panel nudging counsel for both sides toward a simpler solution that wouldn't force the court's involvement.

Read full article » | Save to favorites »

Ex-Jackson Walker Atty Seeks Breakup With Romance Suit

By Adrian Cruz

A former Jackson Walker LLP partner said Thursday that she should be dropped from a suit accusing her, a former Texas bankruptcy judge she had a secret relationship with and multiple law firms of fomenting "mass corruption" in Houston's bankruptcy court.

Motion attached | Read full article » | Save to favorites »

SEC Fines Ex-BigLaw Atty For Insider Trades On Apollo Deal

By Hailey Konnath

A former Buchalter PC shareholder has agreed to pay $71,625 to settle the U.S. Securities and Exchange Commission's allegations he purchased stock ahead of Apollo Global Management's $1.5 billion acquisition of Bridge Investment, which the commission said he was representing in an unrelated matter at the time.

Order attached | Read full article » | Save to favorites »

Comey Retains NC Criminal Defense Pro For 2nd Indictment

By Rachel Rippetoe

Former FBI Director James Comey has added a North Carolina white collar defense pro to his legal team fighting an indictment by the Trump administration over a social media post last year that prosecutors characterized as a threat of violence against the president, according to a court filing on Thursday.

Motion attached | Read full article » | Save to favorites »

Judiciary Panel Punts AI Rules, Mulls Judges' Survey Results

By Jeff Overley

Buckle up: Efforts to modernize evidentiary rules amid artificial intelligence fears are getting bumpy, as judiciary advisers Thursday agreed to dramatically delay action while digesting an AI survey of nearly 1,000 judges and organizing a symposium of litigators and tech pros.

1 document attached | Read full article » | Save to favorites »

Toss Of Ex-Shkreli Atty's Deal May Be Error, 2nd Circ. Hints

By Pete Brush

A Second Circuit judge hinted Thursday that a trial judge may have erred in rejecting a retirement-fund garnishment deal that would have protected Martin Shkreli's convicted former lawyer from a potential $1 million "punitive tax event."

3 documents attached | Read full article » | Save to favorites »

Analysis

How Litigation Funding Disclosure Could Affect ITC Cases

By Ryan Davis

The U.S. International Trade Commission's proposed rule to require disclosure of litigation funding in intellectual property cases could bring more transparency to disputes and promote settlements, but it could also discourage some suits if it's not carefully tailored, attorneys say.

Notice attached | Read full article » | Save to favorites »

NC Judge Tosses Atty's Suit Against State Bar Panel Member

By Andrea Keckley

A North Carolina federal judge dismissed a suspended attorney's lawsuit against a State Bar Disciplinary Hearing Commission member he accused of bias and due process violations, finding Thursday that the defendant is entitled to absolute quasi-judicial immunity.

Order attached | Read full article » | Save to favorites »

Analysis

Why Compliance Is Getting Complicated In Latin America

By Phillip Bantz

White collar compliance is getting trickier for companies that do business in Latin America, according to experts, who say they are seeing big shifts in the region connected to cartel crackdowns and efforts to strengthen corporate regulations, including relatively recent pushes for voluntary self-disclosure.

Read full article » | Save to favorites »

Promo that reads Law360 Pulse 2026 AI Survey

LAW FIRMS IN TODAY'S NEWS

Bandas Law Firm

Black Helterline

Blank Rome

Bracewell LLP

Bradley Arant

Brooks Pierce

Brown Rudnick

Bryson Harris Suciu & DeMay

Buchalter LLP

CM Law PLLC

Campbell Conroy

Cole & Van Note

Cravath Swaine

DLA Piper

Ellis & Winters

Faegre Drinker

Federman & Sherwood

Finnegan

Fox Rothschild

Goodwin Procter

Gordon Rees

Holtzman Vogel

Jackson Walker LLP

Jenner & Block

Katten Muchin

Kellogg Hansen

Kirkland & Ellis

Latham & Watkins

Law Office of Tom Kirkendall

Levi & Korsinsky

Merchant & Gould

Milberg PLLC

Miller & Chevalier

Miller Nash LLP

Mintz Levin

Motley Rice

O'Melveny & Myers

Olsen Barton

Perkins Coie

Reardon Scanlon

Saul Ewing

Schubert Jonckheer

Shamis & Gentile

Shook Hardy

Sidley Austin

Siri & Glimstad

Skadden Arps

Snell & Wilmer

Sterne Kessler

Stoel Rives

Tycko & Zavareei

Wachtell Lipton

Weil Gotshal

Winston & Strawn

Womble Bond

COMPANIES IN TODAY'S NEWS

AOL

AT&T Inc.

Actelion Ltd.

Amazon.com Inc.

American College of Trial Lawyers

Anadarko Petroleum Corp.

Apollo Global Management LLC

Apple Inc.

BMG Rights Management GmbH

Booz Allen Hamilton Holding Corp.

Bridge Investment Group LLC

CTIA

Chesapeake Energy Corp.

Citadel Enterprise Americas LLC

Courier Plus Inc.

Cox Communications Inc.

Curaleaf Holdings Inc.

Epic Games Inc.

Equifax Inc.

Ferro Corp.

Fordham University

Garden Remedies Inc.

Google LLC

Instagram Inc.

International Legal Finance Association

Johnson & Johnson

Judicial Watch Inc.

LinkedIn Corp.

Meta Platforms Inc.

Microsoft Corp.

Morgan Stanley

New England Treatment Access LLC

North Carolina State Bar

Occidental Petroleum Corp.

OpenAI OpCo LLC

PGA TOUR Inc.

Paypal Holdings Inc.

Permira

Purdue Pharma LP

Rhapsody International Inc.

Sony Group Corp.

Sony Music Entertainment Inc.

T-Mobile US Inc.

TikTok Inc.

Travere Therapeutics Inc.

Trump Organization Inc.

U.S. Chamber of Commerce

UBS Group AG

Universal Studios Inc.

Verizon Communications Inc.

YouTube Inc.

eBay Inc.

iRobot Corporation

GOVERNMENT AGENCIES IN TODAY'S NEWS

Commonwealth of Massachusetts

Federal Bureau of Investigation

Federal Communications Commission

Federal Judicial Center

Federal Trade Commission

Government of Mexico

Internal Revenue Service

International Trade Commission

Judicial Conference of the United States

Massachusetts Supreme Judicial Court

National Institute of Standards and Technology

New Mexico Attorney General's Office

North Carolina Department of Justice

Superior Court of Massachusetts

U.S. Attorney's Office

U.S. Attorney's Office for the District of Massachusetts

U.S. Attorney's Office for the Eastern District of New York

U.S. Copyright Office

U.S. Court of Appeals for the Fourth Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Customs and Border Protection

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District & Bankruptcy Courts of Southern District of Texas

U.S. District Court for the District of Columbia

U.S. District Court for the District of Connecticut

U.S. District Court for the District of Massachusetts

U.S. District Court for the District of Oregon

U.S. District Court for the Eastern District of North Carolina

U.S. District Court for the Eastern District of Virginia

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

U.S. District Court for the Northern District of California

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

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

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

U.S. Immigration and Customs Enforcement

U.S. Securities and Exchange Commission

U.S. Supreme Court