States Urge Justices To Fix Prediction Markets' Legal 'Chaos'

By Katryna Perera

A coalition of 39 states and the District of Columbia urged the U.S. Supreme Court on Wednesday to resolve a circuit split over the regulation of prediction markets like Kalshi, saying the industry's "aggressive theory of preemption" threatens states' sovereignty and ability to protect their residents. 

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Feds Back High Court Review Of Robinhood Disclosure Suit

By Rae Ann Varona

The Trump administration urged the U.S. Supreme Court Wednesday to take up Robinhood Markets Inc.'s bid to clarify securities issuers' liability for omitting material interim financial information from registration statements, saying the Ninth Circuit erroneously imposes liability by "collapsing" two elements of a misleading-omissions violation.

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Cyber Consultant Convicted Of $53M Uranium Finance Heist

By Stewart Bishop

A federal jury in Manhattan convicted a Maryland cybersecurity consultant on Wednesday of what prosecutors say was a two-pronged heist of well over $53 million in cryptocurrency from Uranium Finance that wiped out the short-lived decentralized exchange.

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Crypto Founder Indicted Over $9M Crypto Rug Pull

By Celeste Bott

Cryptocurrency founder Alexander Sisemore has been indicted in Illinois federal court for orchestrating a fraudulent scheme that netted him about $9 million, with prosecutors alleging he concealed tokens he had allocated himself for free and surreptitiously sold them while misleading investors about the project's ownership.

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Crypto.com Beats Website Users' Tracking Suit, For Now

By Gina Kim

A California federal judge dismissed, for now, a proposed class action alleging Crypto.com's site operator allowed third parties to track visitors' browsing activities despite rejecting the use of cookies, ruling Monday the plaintiffs lack standing since the information that was allegedly collected wasn't sensitive enough to constitute concrete injury.

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Tether Accused Of Damaging Tech Co. With $2.8M Freeze

By Sydney Price

Fintech payment company Conduit Technology says stablecoin issuer Tether Holdings damaged its business and is seeking injunctive relief over Tether's decision to freeze about $2.8 million Conduit stored in a digital wallet.

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DLA Piper, Loeb Guide Stablecoin Firm's $250M SPAC Merger

By Katryna Perera

Guided by DLA Piper and Loeb & Loeb LLP, stablecoin issuer First Digital Group Limited will merge with CSLM Digital Asset Acquisition Corp III Ltd., a special purpose acquisition company, and go public in a deal valued at $250 million.

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Egan-Jones Taps Ex-SEC Examiner To Oversee Ratings

By Sarah Jarvis

Egan-Jones Ratings Co. announced Wednesday that it has appointed a former branch chief of the U.S. Securities and Exchange Commission's Office of Credit Ratings as its senior director of ratings, several weeks after the SEC ruled that the firm will not be designated a nationally recognized statistical rating organization for rating bonds or asset-backed securities.

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Series

Illinois Banking Brief: All The Notable Legal Updates In Q3

Recent banking developments in Illinois include significant new consumer protection legislation, three meaningful Seventh Circuit decisions, and a high-profile constitutional challenge to the state's new digital asset tax, say attorneys at Barnes & Thornburg.

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Why And How To Build A Neurodiversity-Informed Practice

By better understanding neurodiversity and implementing simple accommodations for clients with autism, ADHD or learning differences, attorneys can build stronger relationships with those who may otherwise struggle to obtain and benefit from legal services, while developing good habits that will benefit everyone they represent, says Ting Cheung at Sanford Heisler.

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Omni Bridgeway Raises $1B For New Litigation Funding

By Ryan Boysen

Litigation funder Omni Bridgeway has raised a new $1 billion fund from mostly repeat investors, with plans to deploy the money broadly across countries and case types while avoiding debt leverage.

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Alito Explains Recusal But Says It Shouldn't Become Practice

By Katie Buehler

U.S. Supreme Court Justice Samuel Alito said this week he "reluctantly" recused himself from a dispute that could decide whether state and local government can sue Big Oil in state courts for damages related to greenhouse gas emissions, while suggesting the high court's members shouldn't make a practice of explaining their reasons for stepping away from cases.

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Justices' Docs Should Belong To Public, Gov't Watchdogs Say

By Jack Karp

Nearly two dozen government accountability groups are calling for Congress to enact a law that would make U.S. Supreme Court justices' papers government property that would someday be available to the public.

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Analysis

Uncertainty Surrounds Judge Newman's 11th Circ. Transfer

By Dani Kass

Chief Justice John Roberts' order to transfer the Federal Circuit Judicial Council's disability investigation of a suspended 99-year-old judge to another court offers the neutral evaluation the judge has long been asking for, but attorneys are concerned about the transparency of the proceeding.

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California Federal Judge Jeffrey White To Retire After 24 Years

By Bonnie Eslinger

Senior U.S. District Judge Jeffrey S. White will retire at the end of the year after nearly a quarter-century on the federal bench in Northern California.

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ABA Accreditor Leader Remembered For Passion And Intellect

By Emma Cueto

After her sudden death while leading the American Bar Association council that handles law school accreditation, Melissa Hart is being remembered as a passionate and fiercely intelligent jurist, mentor and leader who will be missed as the council navigates numerous challenges to its accreditor status.

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