A Connecticut federal judge denied Kalshi's bid to shield itself from the state's gaming regulators Monday, finding that the site's sports contracts likely flout state gambling laws.
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TOP NEWS

Kalshi Loses Bid To Keep Conn. Betting Regulators At Bay

By Alex Lawson

A Connecticut federal judge denied Kalshi's bid to shield itself from the state's gaming regulators Monday, finding that the site's sports contracts likely flout state gambling laws.

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Bitcoin Depot Wins Approval Of Plan With Release Limits

By Ben Zigterman

Cryptocurrency kiosk operator Bitcoin Depot received confirmation Monday of its Chapter 11 liquidation plan, after a Texas bankruptcy judge narrowed third-party releases in the plan to cover only conduct that followed the debtor's bankruptcy filing.

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Crypto, Data Center Noise Has 'Shattered' NC Town, Suit Says

By Hayley Fowler

A cryptocurrency mining and artificial intelligence data center in rural North Carolina is emitting a cacophony that is destroying local residents' quality of life, according to neighbors who allege the operators have refused to take steps to mitigate the alleged nuisance.

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OCC Takes Swipe At BofA In Post-Jan. 6 Data Sharing Suit

By Jon Hill

A top U.S. banking regulator has waded into a proposed class action accusing Bank of America NA of unlawfully sharing customer information with law enforcement after the Jan. 6, 2021, U.S. Capitol attack, arguing the bank can't use a key regulatory safe harbor to exit the case.

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POLICY & REGULATION

Brief

Trump Pick Confirmed To NCUA As Hauptman Joins PCAOB

By Jon Hill

The National Credit Union Administration is poised for new leadership after senators on Friday confirmed Trump nominee John Crews to its board, whose acting Chairman Kyle Hauptman has departed for a seat on the Public Company Accounting Oversight Board.

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ENFORCEMENT & COMPLIANCE

SEC Alleges Adviser Defrauded Investors In Pre-IPO Offerings

By Jessica Corso

The U.S. Securities and Exchange Commission both filed and settled a lawsuit in New York federal court Monday that accuses an investment manager of defrauding investors interested in taking positions in companies like SpaceX and Klarna before they went public. 

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Crypto Promoter Owes SEC $2.6M Over BitConnect Offering

By Katryna Perera

A New York federal judge has ordered a cryptocurrency promoter to pay over $2.6 million to resolve claims from the U.S. Securities and Exchange Commission that he recruited investors into a $2 billion unregistered cryptocurrency lending program.

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Brief

Soldier Must Wait To Argue CFTC Case Over Maduro Trades

By Jessica Corso

The U.S. Army sergeant facing allegations that he profited off his insider knowledge of the raid that captured former Venezuelan President Nicolás Maduro cannot challenge the U.S. Commodity Futures Trading Commission case against him while he faces criminal charges, a New York federal judge has ruled.

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EXPERT ANALYSIS

How To Limit Trading Risk When AI Accesses Nonpublic Info

Financial firms' increasing adoption of artificial intelligence raises questions about how to control AI tools' access to nonpublic information to mitigate the risk of a trading, surveillance or enforcement problem, but designing policies to prevent misuse may help, say attorneys at Skadden.

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Rethinking Risk And Value In Private Credit Disputes

Private credit disputes will increasingly turn on whether lenders recognized enterprise-value risk and updated marks as borrower conditions changed, making valuation processes, trigger frameworks and portfolio oversight critical for investors and litigants, say Isil Erel at the Ohio State University and Farooq Javed at The Brattle Group.

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LEGAL INDUSTRY

Trump Picks Ex-Personal Lawyer As New White House Counsel

By Courtney Bublé

President Donald Trump's incoming White House counsel is a former personal attorney for the president who is already working for the White House and was at the U.S. Department of Justice during his first term.

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Ill. Gov. Signs Bill Restricting PE Role In Legal Industry

By Emma Cueto

Illinois Gov. JB Pritzker has signed into law a bill designed to target nonlawyer ownership of law firms, outlawing fee sharing with out-of-state alternative business structures and attempting to place restrictions on law firms' use of managed services organizations.

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Spa Fights 9th Circ.'s 'Swinging Dicks' Order At High Court

By Jeff Overley

The Ninth Circuit's rejection of a spa's religious objections to serving transgender customers is incompatible with several major precedents, according to a U.S. Supreme Court petition filed Monday in litigation that soared in prominence when dozens of circuit judges decried a salacious dissent.

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CREXi Can't Stay CoStar Case For Quinn Emanuel DQ Appeal

By Matthew Perlman

A California federal court rejected a bid Monday from Commercial Real Estate Exchange Inc., or CREXi, for a stay in CoStar's copyright case while CREXi looks to undo the disqualification of its attorneys from Quinn Emanuel Urquhart & Sullivan LLP.

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Biz Owners Appeal Morgan Lewis Win In Tax Shelter Suit

By Andrea Keckley

A pair of business owners asked the Florida Supreme Court to reverse a decision affirming judgment in favor of Morgan Lewis & Bockius LLP in a dispute over whether the law firm had routed income through illegal tax shelters.

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COMPANIES IN TODAY'S NEWS

APC

Adit Ventures

Alliance Defending Freedom

American Civil Liberties Union

American International Group Inc.

BDO LLP

BDO USA LLP

Bank of America Corp.

Bitcoin Depot

BlackRock Inc.

Boy Scouts of America

British Broadcasting Corp.

CRC Advisors

CoStar Group Inc.

FS Investment Solutions LLC

Federalist Society

Lambda Legal Defense & Educational Fund

LinkedIn Corp.

LoopNet Inc.

Medallia Inc.

Ohio State University

Otis Worldwide Corp.

Pacific Justice Institute

Public Co. Accounting Oversight Board

Space Exploration Technologies Corp.

The Brattle Group Inc.

Thoma Bravo LLC

Vista Equity Partners Management LLC

YouTube Inc.

LAW FIRMS IN TODAY'S NEWS

Agnifilo Intrater

Bryson Harris Suciu & DeMay

Cheshire Parker

Dhillon Law Group

Ellis & Winters

Geragos & Geragos

Gibson Dunn

Gunster Yoakley

Harris & James

Hill Ward Henderson

Johnson Pope Bokor Ruppel & Burns LLP

Latham & Watkins

Levin Law PA

Lieff Cabraser

McCarter & English

Milbank LLP

Miller Law Group PLLC

Morgan Lewis

Quinn Emanuel

Simpson Thacher & Bartlett

Skadden Arps

Sperling Kenny

Vinson & Elkins

Weil Gotshal

Willkie Farr

GOVERNMENT AGENCIES IN TODAY'S NEWS

Commodity Futures Trading Commission

Connecticut Attorney General's Office

Eastern Band of Cherokee Indians

Federal Bureau of Investigation

Florida Supreme Court

National Capital Planning Commission

National Credit Union Administration

North Carolina Secretary of State

Office of the Comptroller of the Currency

Texas State Securities Board

U.S. Army

U.S. Court of Appeals for the Eighth Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Court of Appeals for the Second Circuit

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 Central District of California

U.S. District Court for the District of Connecticut

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

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

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

Washington Attorney General's Office