SEC, CFTC Propose Rules To Relax Private Fund Reporting

By Aislinn Keely

The U.S. Securities and Exchange Commission on Monday proposed relaxing certain reporting requirements for hedge funds and other private fund advisers by allowing smaller firms to forego filing a disclosure used to monitor systemic risk and nixing some of its questions around volatility, event reporting and indirect exposure altogether.

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Justices Cast Doubt On Effort To Limit SEC Disgorgement

By Jessica Corso

The U.S. Supreme Court on Monday questioned an attempt to limit the U.S. Securities and Exchange Commission's disgorgement powers, with conservative and liberal justices alike seemingly skeptical of the argument that the agency has to identify victims before it can demand the return of ill-gotten gains.

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NFT Buyer Says Ex-Software Biz Orchestrated Token Rug Pull

By Emilie Ruscoe

A purported blockchain technology platform faces proposed class action allegations it made millions off a so-called rug pull, introducing a series of nonfungible tokens and teasing a cryptocurrency offering that never materialized, then selling those tokens into the artificial market it created and abandoning the platform.

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CFPB's Layoff Bid Belongs Before DC Judge, Union Says

By Jon Hill

A federal labor union pushed back Friday against a Consumer Financial Protection Bureau bid to proceed with a plan for shedding roughly half its remaining staffers, telling the D.C. Circuit that the agency's request should go first to the lower-court judge who froze layoffs there.

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Justices Won't Hear 1st Circ. Escrow Law Preemption Case

By Jon Hill

The U.S. Supreme Court said Monday that it will not review a First Circuit decision allowing Citizens Bank NA to be sued for allegedly failing to comply with a Rhode Island interest-on-escrow law, declining to wade again into a fight over national bank preemption.

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9th Circ. Open To Reviving FCRA Suit Against Wells Fargo

By Dorothy Atkins

A Ninth Circuit panel appeared open Monday to reviving a proposed class action alleging Wells Fargo violated the Fair Credit Reporting Act by pulling credit reports after fraudsters opened illegitimate accounts, with one judge expressing concerns the dismissal was "jumping the gun" and another judge criticizing the ruling as ambiguous.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week delivered another mix of procedural rulings, fiduciary duty disputes and deal litigation, highlighting both the court's gatekeeping role and its continued focus on stockholder rights and transactional fairness.

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Digital Assets, AI Pro Rejoins Cleary From Amazon

By Andrea Keckley

Cleary Gottlieb Steen & Hamilton LLP announced on Monday that an alumnus of the firm who most recently worked as the head of responsible AI governance at Amazon has rejoined its ranks in New York.

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Black McDermott Atty Says White Men Favored For Partner

By Lauren Berg

A Black female McDermott Will & Schulte attorney accused the firm of gender, race and pregnancy discrimination in a lawsuit lodged in California state court, saying she has been consistently bypassed for promotion by less-experienced white attorneys and was yanked off casework after taking medical leave following a life-threatening illness during pregnancy.

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'Kind Of Lawyering We Don't Like': Judge Rips Quinn Emanuel

By Bonnie Eslinger

Guardant Health Inc. urged a California federal judge on Monday to make Quinn Emanuel pay nearly $1.3 million on top of $3 million in sanctions already imposed over misrepresentations lawyers made representing its rival Natera Inc., prompting the judge to criticize Quinn Emanuel lawyers for making distinctions so fine they veer into misrepresentation.

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Q&A

She Has A Point: Fish & Richardson's Nitika Gupta Fiorella

By Dani Kass

Fish & Richardson PC principal Nitika Gupta Fiorella is "a no-stone-unturned, always super prepared" lawyer who "epitomizes professionalism and respect," according to Finnegan Henderson Farabow Garrett & Dunner LLP partner Cora Holt.

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Fox Lawyer In Dominion Case Confirmed To Texas Bench

By Courtney Bublé

The Senate voted 47-46 Monday evening to confirm Andrew Davis, a partner at Lehotsky Keller Cohn LLP who defended Fox News in the Dominion Voting Systems defamation case, to serve on the bench in the Western District of Texas.

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Justices Won't Consider IP Theft Allegations Against Akin

By Dani Kass

The U.S. Supreme Court on Monday rejected a former Cornell University graduate student's petition trying to revive his malpractice suit against Akin Gump Strauss Hauer & Feld LLP stemming from patent litigation against Illumina Inc. over DNA sequencing intellectual property.

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DC Ethics Office Says Ex-Interim US Atty Can't Remove Case

By Emily Sawicki

Washington, D.C., ethics officials have asked a federal court to send U.S. Department of Justice official Ed Martin's ethics case back to the D.C. Board on Professional Responsibility, arguing the D.C. federal court lacks jurisdiction over a disciplinary matter, which is neither a civil action nor a criminal prosecution.

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Ex-Newman Clerks, Judges Back High Court Suspension Fight

By Adam Lidgett

A group of former clerks for Federal Circuit Judge Pauline Newman, as well as former federal judges, have urged the U.S. Supreme Court to hear the challenge to her suspension imposed by her colleagues.

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Insurer Intentionally Avoiding $200M Loan Claim, Court Told

By Hope Patti

A litigation funding firm has accused its insurer of wrongfully refusing to pay out its policy's guaranteed $200 million in coverage for an unpaid loan, saying the insurer buried it in duplicative and burdensome information requests to avoid paying a valid claim.

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Judge Says Ill. Justices Can't Fire Him Over MAGA Op-Ed

By Jack Karp

Illinois Supreme Court justices have no authority to remove a state judge from the bench for alleged misconduct, so their effort to dismiss a retired state trial judge's claims that his removal for penning a political opinion column violated his constitutional rights should be rejected, the retired jurist has said.

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