NY Judge Axes $110M Mango Markets Trader's Fraud Verdict

By Aislinn Keely

A Manhattan federal judge on Friday granted a crypto trader's request to overturn a conviction for defrauding platform Mango Markets out of roughly $110 million, finding that prosecutors didn't link his conduct to New York and failed to show he duped the platform.

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CFPB Calls Open Banking Rule 'Unlawful' In Pivot Against It

By Jon Hill

The Consumer Financial Protection Bureau signaled Friday that it will now seek to vacate its Biden-era open banking rule, siding with the banking industry in an ongoing legal challenge to the rule even as a major fintech industry group is pledging to keep defending it.

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Coinbase Investor Sues Over Hack Fallout, UK Fine

By Aislinn Keely

A Coinbase stockholder brought a proposed class action against the crypto exchange, claiming she and other investors felt the fallout after the firm suffered a headline-grabbing data breach and an earlier run-in with a U.K. regulator.

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Banking Veteran Betsy Cohen's Latest SPAC Targets Fintech

By Al Barbarino

Financial services dealmaker Betsy Cohen is back with another SPAC, filing plans Friday for a $220 million initial public offering for Cohen Circle Acquisition Corp. II, which aims to pursue mergers in fintech and adjacent sectors.

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Law360 Reveals Titans Of The Plaintiffs Bar

By Rachel Rippetoe

This past year, a handful of attorneys secured billions of dollars in settlements and judgments for both classes and individual plaintiffs against massive companies and organizations like Facebook, Dell, the National Association of Realtors, Johnson & Johnson, UFC and Credit Suisse, earning them recognition as Law360's Titans of the Plaintiffs Bar for 2025.

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Banking Groups Want SEC To Pull Cyber Disclosure Mandates

By Sarah Jarvis

A group of banking trade associations has called on the U.S. Securities and Exchange Commission to rescind a Biden-era mandate requiring public companies to disclose certain cybersecurity incidents, arguing it increases companies' risk when they fall victim to cyberattacks.

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Feds Charge Russian With Qakbot Malware Scheme

By Aislinn Keely

Federal prosecutors have unveiled charges and a $24 million cryptocurrency forfeiture action in California federal court against a man suspected of being the lead developer of the Qakbot malware that has infected hundreds of thousands of devices for ransomware schemes.

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Brief

Alleged Forex Scammers Owe $18.5M In CFTC Default Win

By Emilie Ruscoe

A pair of entities purporting to be commodity trading platforms and the duo that allegedly controlled them have been hit with an order saddling them with restitution and civil penalty obligations totaling nearly $18.5 million after ignoring claims brought by the Commodity Futures Trading Commission.

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X Alleges Vietnamese Group Is Exploiting Engagement Metrics

By Rae Ann Varona

X Corp. on Thursday filed suit in Texas federal court against several Vietnamese nationals it alleges run a cybercrime ring that farms money using computer-generated content and manipulating its social media platform's engagement metrics through bots.

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Fledgling Crypto ATM Regs May Be Due For A Growth Spurt

As cryptocurrency ATM use and availability become more prevalent within the U.S. financial services ecosystem, states — only a few of which currently have a crypto ATM framework — may need to consider expanding legislation and regulation to accelerate consumer fraud protection practices, says Jason Noto at Polsinelli.

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The Legal Risks Of US Restrictions On Investments In China

The second Trump administration has continued to embrace a more restrictive economic policy toward China, including an ongoing review of further restrictions on the flow of U.S. capital to China, so early planning and enhanced diligence can reduce exposure to the challenges resulting from further restrictions, say attorneys at Cleary.

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Series

Power To The Paralegals: An Untapped Source For Biz Roles

Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.

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4 Top Paul Weiss Attys Exit In Wake Of Firm's Deal With Trump

By Lauren Berg

Four top Paul Weiss Rifkind Wharton & Garrison LLP partners who have represented Google, Amazon and other major companies in high-profile litigation left the firm Friday, in the wake of its decision to make a deal with the Trump administration to defuse an executive order targeting the BigLaw firm's business.

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Judge Strikes Down Trump Order Against Jenner & Block

By Jake Maher

Jenner & Block LLP on Friday defeated a Trump administration executive order suspending security clearances for its employees in retaliation for its pro bono work and for a former partner's work with former special counsel Robert Mueller.

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Analysis

Alarms Sound As DOJ Anti-Corruption Unit Withers

By Phillip Bantz

Created in the aftermath of the Watergate scandal as a guardrail against government corruption and politically motivated criminal prosecutions, the Justice Department's Public Integrity Section has been stripped down under the Trump administration to a skeleton crew with severely limited responsibilities, potentially opening the door for improper prosecutions and eliminating a knowledge base built up over decades.

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Former AG Garland Returns To Arnold & Porter

By Alison Knezevich

Former U.S. Attorney General Merrick Garland has returned to Arnold & Porter Kaye Scholer LLP, where he worked early in his career, the firm announced Friday.

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Feature

My So-Called Retirement: Some IP Lawyers Just Can't Quit

By Theresa Schliep

When patent partner Terry Rea set out to retire, the onetime acting director of the U.S. Patent and Trademark Office had her eyes on the independence that retirement promises — flexible hours, fewer deadlines and less stress over having lots of people counting on you.

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Brief

AI-Generated Evidence Rule Making Way To Public Comment

By Sarah Martinson

A committee of the Judicial Conference of the United States is scheduled to decide whether to approve a proposed new rule on evidence generated with artificial intelligence for public comment at its June 10 meeting.

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NC Judge Censured For Drunken Driving With His Child In Car

By Emily Sawicki

The North Carolina Supreme Court on Friday censured a state judge after he was found guilty of drunken driving with his minor daughter in the vehicle, calling the discipline the "minimum acceptable consequence" for the judge's wrongdoing.

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Legendary Calif. Judge Alsup Likely To Go Inactive In 2025

By Bonnie Eslinger

U.S. District Judge William H. Alsup, a larger-than-life jurist who's overseen some of the most consequential litigation in California's Northern District, indicated in a court filing Friday that he'll likely take inactive status before year's end, although the 79-year-old judge warned Law360 that he hasn't made a final decision.

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Brief

Grassley Slams Durbin Over Holds On US Attorney Nominees

By Courtney Bublé

Sen. Chuck Grassley, R-Iowa, chair of the Senate Judiciary Committee, slammed his Democratic counterpart on Friday for holding up U.S. attorney nominations.

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Westlaw AI Win Right But Appellate Review Wise, Judge Says

By Lauren Berg

A Delaware federal judge Friday voiced confidence in his ruling that tech startup Ross Intelligence infringed copyrighted material from Thomson Reuters' Westlaw platform to create a competing legal research tool powered by artificial intelligence, but explained that granting interlocutory appeal on two questions will help resolve the case more efficiently.

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Southwest Flight Attendant Fights To Revive Nixed Sanctions

By Grace Elletson

A flight attendant urged the Fifth Circuit to reconsider its move to axe a contempt order against Southwest Airlines in her wrongful termination suit, arguing it shouldn't be scrapped just because the panel took issue with court-ordered religious liberty training for Southwest attorneys.

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Law360's Legal Lions Of The Week

By Kevin Penton

Latham & Watkins LLP leads this week's edition of Law360 Legal Lions, after a deadlocked U.S. Supreme Court left in place an Oklahoma state court ruling barring the launch of the nation's first religious charter school.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

A new study found that the total number of shareholder proxy proposals submitted this year dropped significantly after the SEC rescinded past guidance. Meanwhile, a handful of BigLaw firms wrote to members of Congress defending the controversial agreements they made with the Trump administration to avoid executive orders targeting their shops. These are some of the stories in corporate legal news you may have missed in the past week.​

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Taxation With Representation: Troutman, A&O Shearman

By Zak Kostro

In this week's Taxation With Representation, Blackstone acquires TXNM Energy, OpenAI buys io Products, Lumen Technologies sells its Mass Markets fiber-to-the-home business in 11 states to AT&T, and AMD sells its data center infrastructure manufacturing business to Sanmina.

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In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

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