FTX's liquidating trust is asking a Delaware bankruptcy judge to reject $53 million in claims from firms affiliated with a former Trump administration official, saying the companies came out ahead of deals at issue in the case.
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TOP NEWS

FTX Trust Says SkyBridge Can't Collect $53M In Ch. 11 Claims

By Rick Archer

FTX's liquidating trust is asking a Delaware bankruptcy judge to reject $53 million in claims from firms affiliated with a former Trump administration official, saying the companies came out ahead of deals at issue in the case.

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Crypto Co. Investor's 'Puzzle Pleading' Dooms Revenue Suit

By Katryna Perera

A Georgia federal judge has dismissed with prejudice a proposed class action alleging cryptocurrency technology company Bakkt Holdings Inc. and its executives misrepresented the stability of the company's crypto services revenue after it acquired a crypto platform, finding the complaint contains "puzzle pleading."

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Ex-Girlfriend Of $36M Crypto Schemer Gets 18 Months

By Craig Clough

A California federal judge sentenced an Orange County woman to 18 months in prison and ordered her to pay more than $1.48 million in restitution for failing to report more than $2.6 million in taxable income she received through accounts funded by her then-boyfriend's criminal activities related to a $36 million hacking scheme.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week dismissed a challenge to Alteryx Inc.'s $4.4 billion take-private sale, resolved a fight over the removal of a security technology company's director and declined to let Empery Digital Inc. immediately appeal a proxy contest ruling.

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LITIGATION

TelexFree Investors' 2nd Bid For Cert. Called Futile

By Nadia Dreid

A Massachusetts federal judge has once again rebuffed an attempt to certify a class of investors who say they lost money in the massive TelexFree Ponzi scheme, calling their second bite at the apple futile.

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Crypto Firm, Ga. Investor Reach Deal To End Fraud Suit

By David Aaro

An investor has agreed to end her lawsuit accusing a Texas-based crypto investment company of letting her funds get caught up in a fraudulent scheme to funnel money to foreign countries, according to a filing in Georgia federal court.

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Brief

Cigna Wins $1.8M In Fees After Payment Patent Fight

By Adam Lidgett

A Texas federal magistrate judge has awarded Cigna Corp. nearly $1.8 million in legal fees in a case where it was cleared of infringing a card payment patent, just days after he said a shopping mall owner and gift card company were also entitled to fees in the legal battle.

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DEALS

4 Firms Steer $1.6B Priority Technology Take-Private

By Jade Martinez-Pogue

Payments and banking solutions provider Priority Technology Holdings Inc., advised by Nixon Peabody LLP and Paul Hastings LLP, on Monday announced plans to become a private company after being bought for $1.6 billion by a McDermott Will & Schulte LLP-led investor group helmed by the company's chair and CEO.

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EXPERT ANALYSIS

For Faster FDIC Review, Banks Must Front-Load Prep

Banks seeking to benefit from the efficiency promised by the Federal Deposit Insurance Corp.’s new two-phase review of deposit insurance applications must prioritize filing comprehensive submissions or risk the fate of applicants recently rejected by the Comptroller of the Currency, say attorneys at Skadden.

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LEGAL INDUSTRY

Seyfarth Says Data Breach Exposed Social Security Numbers

By Hailey Konnath

Seyfarth Shaw LLP has disclosed a recent data breach that exposed the names and Social Security numbers of at least 300 individuals, according to notices filed with the Texas and California attorneys general.

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Meta Celebrates Its Abuse Of Atty-Client Privilege, Judge Told

By Dorothy Atkins

A California federal judge ordered Meta on Tuesday to rereview privilege designations on 300 documents in social media addiction litigation, after plaintiffs' lawyers cited a "culture of privilege abuse" epitomized by Instagram swag hats embroidered with "a/c priv" — the shorthand used to log withheld documents.

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Mich. Fed. Judge On 1-Year Leave Over Drunken Driving Case

By Jack Karp

U.S. District Judge Thomas L. Ludington is taking a one-year paid leave of absence from the bench following his misdemeanor conviction for drunken driving, the U.S. District Court for the Eastern District of Michigan announced Tuesday.

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Womble Bond Can't Quit Dutch Client With TM Trial Looming

By Hayley Fowler

Womble Bond Dickinson can't withdraw from a trademark feud that's dragged on for more than five years between U.S. and Dutch software companies, a North Carolina federal judge ruled, saying the firm's exit at this late stage "would be completely disruptive."

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COMPANIES IN TODAY'S NEWS

Alteryx Inc.

Bakkt LLC

Bank of America Corp.

Blackhawk Network Holdings Inc.

Burger King Holdings Inc.

Carrols Restaurant Group Inc.

Clearlake Capital Group LLC

Discord Inc.

Evercore Inc.

Inovalon Holdings Inc.

Insight Venture Management LLC

Instagram Inc.

JPMorgan Chase & Co.

Jefferies Financial Group Inc.

Los Angeles Unified School District

Meta Platforms Inc.

Mobileum Inc.

Nasdaq Inc.

Nordic Capital Ltd.

Priority Technology Holdings Inc.

Restaurant Brands International Inc.

Roblox Corp.

Searchlight Capital Partners LP

Simon Property Group Inc.

Snap Inc.

TelexFree LLC

The Cigna Group

TikTok Inc.

Twitter Inc.

Webull Financial LLC

Wells Fargo & Co.

X Corp.

YouTube Inc.

LAW FIRMS IN TODAY'S NEWS

Adamski Moroski

Blank Rome

Bonsignore Trial Lawyers

Covington & Burling

Eckert Seamans

Ellis & Winters

Fish & Richardson

Freshfields

Glancy Prongay

Goodwin Procter

Green LLP

Greenberg Traurig

Heninger Garrison

Holzer & Holzer

Insight PLC

Kramer LLP

Krevolin & Horst

Landis Rath

Latham & Watkins

Lewis Brisbois

Lieff Cabraser

Lowey Dannenberg

Matthew G. Miller PC

McDermott Will & Schulte

Michael Best & Friedrich

Mirick O'Connell

Nixon Peabody

Paul Hastings

Paul Weiss

Potter Anderson

Quinn Emanuel

Robbins Alloy

Robinson Bradshaw

Seyfarth Shaw

Simpson Thacher & Bartlett

Skadden Arps

Sullivan & Cromwell

Taft Stettinius

Weinberg Wheeler

WilmerHale

Wilson Robertson & VanDeventer

Womble Bond

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Attorney General's Office

Delaware Court of Chancery

Federal Deposit Insurance Corp.

Internal Revenue Service

Los Angeles County Sheriff's Department

Office of the Comptroller of the Currency

Texas Attorney General's Office

U.S. Attorney's Office for the Central District of California

U.S. Bankruptcy Court for the District of Delaware

U.S. Department of Justice

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

U.S. District Court for the District of Massachusetts

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

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

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

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

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

U.S. Securities and Exchange Commission

U.S. Supreme Court