MLB Deals With Polymarket, CFTC For Sports Market 'Integrity'

By Aislinn Keely

Major League Baseball said Thursday that it has struck an exclusive licensing deal with Polymarket to bolster the brand and promote the "integrity" of the baseball-focused prediction markets on the platform, and separately reached a first-of-its-kind information-sharing agreement with the U.S. Commodity Futures Trading Commission.

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Gemini Investor Sues Over Crypto Co.'s Post-IPO Biz Shift

By Sydney Price

Crypto exchange operator Gemini Space Station Inc. and its founders Tyler and Cameron Winklevoss were hit with a proposed shareholder class action accusing them of not disclosing before the firm's initial public offering its plans to shift focus to the prediction market, pull back on global operations and replace certain members of its leadership.

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SEC Looks To Beef Up Rulemaking Staff For Reg S-K Reforms

By Jessica Corso

The U.S. Securities and Exchange Commission is in the process of hiring additional staff to review the corporate disclosure process as it considers taking a bite out of the amount of information publicly traded companies have to disclose in their annual financial reports and ending quarterly reporting requirements, officials said Thursday.

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Judge Says 9/11 Claimants Can Pursue Alleged Iranian Bitcoin

By Ganesh Setty

A New York federal court gave hundreds of individuals injured in the 9/11 terrorist attacks the green light to recover damages against Iran, following the federal government's recent forfeiture action against billions worth of bitcoin allegedly belonging to the country.

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Feds' Capital Rule Overhaul Would Give Break To Banks

By Jon Hill

Federal regulators moved Thursday to launch a comprehensive overhaul of U.S. bank capital rules, rolling out a long-awaited package of proposed changes that are expected to shave billions off the aggregate amount of capital required for banks of all size ranges.

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Feds Say Atty Used Stolen Nonprofit Funds To Buy Crypto

By Matthew Santoni

An attorney and former president of the nonprofit preserving Pittsburgh's Duquesne Incline has been indicted, accused of embezzling nearly $1.4 million from the organization, federal prosecutors announced Thursday.

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Mich. AG Wants Kalshi Enforcement Case Back In State Court

By Emilie Ruscoe

Michigan's attorney general has asked a federal judge to send an enforcement action against prediction market KalshiEX LLC back to state court, saying that the company was just trying to "buy time and make money" with its arguments for federal jurisdiction.

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TriZetto Wants To Expand IP Claims Against Infosys

By Elliot Weld

Cognizant TriZetto Software Group has asked a Texas federal judge to allow it to amend its trade secret suit against Infosys Ltd., saying a recent discovery has revealed that Infosys' alleged misconduct "goes much deeper."

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AMG Bank Denies Duty In Synapse Fintech Collapse Case

By Sydney Price

AMG National Trust Bank on Thursday urged a Colorado federal judge to grant it a win in a suit attempting to hold it liable for monetary losses related to the collapse of fintech middleman Synapse Brokerage, saying it has no obligations to non-customers and it has cooperated with instructions to return nearly all the $110 million Synapse held in AMG accounts.

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Fintech Co. Says It Caught Rival Stealing Code 'Red-Handed'

By Corey Rothauser

Financial technology company MyCard Inc. has filed a suit against rival Atomic FI Inc. in Delaware federal court alleging MyCard has uncovered direct evidence that the competitor copied proprietary software after planting a hidden "honeypot" string in MyCard's code.

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Fed. Circ. Rejects Last Challenge To Squires' Discretion

By Dani Kass

The Federal Circuit on Thursday shot down Volkswagen's mandamus petition claiming that the U.S. Patent and Trademark Office director shouldn't have "unfettered discretion" to deny Patent Trial and Appeal Board challenges, closing the last of 14 related appeals.

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Palantir Rolls Out AI-Mortgage Platform In Startup Partnership

By Nate Beck

Artificial intelligence company Palantir Technologies announced a partnership with startup Moder on Thursday to build AI-based mortgage operations, starting with Freedom Mortgage, a mortgage originator and servicer, as a pilot customer.

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PE Behemoths Eye $10B OpenAI JV, Plus More Rumors

By Jade Martinez-Pogue

Private equity firms, including TPG and Bain Capital, are considering forming a $10 billion joint venture with OpenAI, Finnish lift maker Kone Oyj is mulling an acquisition of its rival TK Elevator, and Australian investment firm Macquarie has backed out of a bidding war for a stake in Kuwait's oil pipeline network due to the conflict in the Middle East.

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Brief

Kanye West Home Investor, Facing Foreclosure, Files Ch. 11

By Rick Archer

A California luxury real estate investment company has filed for Chapter 11 protection in California with about $155 million in debt a day ahead of a foreclosure sale of its most prominent property, rapper Kanye West's former beach home.

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6 Noteworthy Changes From SEC Enforcement Manual Update

Recent updates to the U.S. Securities and Exchange Commission’s enforcement manual represent a commitment to transparency and fair process, with the signature change being a requirement that staff make certain probative evidence available during the Wells process, say attorneys at Debevoise.

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Series

Coaching Soccer Makes Me A Better Lawyer

Coaching youth soccer for my 7-year-old son's team has sharpened how I communicate with clients, prepare witnesses, work within teams and think about leadership, making me a more thoughtful and effective lawyer in many ways, says Joshua Holt at Smith Currie.

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Sitting Judges Take Stand Over Threats Growing 'Ordinary'

By Jake Maher

On the heels of an ethics opinion giving them wider latitude to speak publicly, sitting federal judges brought attention Thursday to the increasing threats against them and their family members, warning about the dangers of such threats becoming "ordinary."

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Anatomy Of A Citation Hallucination: AI Edit, Associate Review

By Rachel Riley

Counsel for consumers in a supplement labeling lawsuit against Amazon responded Wednesday to a Seattle federal judge's order to explain an AI-hallucinated citation, saying the error was introduced by a generative artificial intelligence tool used to "harmonize" drafts of a brief, then missed by a fifth-year Boies Schiller associate tasked with checking the citations.

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Jackson Walker, US Trustee Reach Deal On Fee Settlements

By Vince Sullivan

The Office of the U.S. Trustee and law firm Jackson Walker LLP on Wednesday resolved the bankruptcy watchdog's opposition to a series of settlements tied to a romantic relationship between a former Jackson Walker attorney and a now-retired bankruptcy judge.

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Judge Quashes Subpoena Of 5 Firms That Repped Twitter

By Rae Ann Varona

A Delaware federal court ruled Thursday that six former Twitter employees cannot subpoena five law firms that represented the social media company in connection with its acquisition by Elon Musk, rejecting the employees' "conclusory allegations" that the company and Musk used the firms to make false promises of severance benefits.

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Nomination For New DOJ Fraud Chief Heads To Senate Floor

By Courtney Bublé

The nomination of Colin McDonald for the new position of assistant attorney general for fraud was sent to the full Senate on Thursday, after the Judiciary Committee voted 12-10 along party lines to advance his nomination.

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Judge Digs Into Counsel Over 'Astronomically High' Fee Bid

By Nadia Dreid

Attorneys who represented classes of people who say they received harassing phone calls from real estate agents in violation of federal telemarketing laws are asking for way too much of the $20 million settlement, according to the California federal judge who tore into them Wednesday.

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DOJ Antitrust Head Tells Staff: Don't Worry About Criticism

By Bryan Koenig

The acting head of the U.S. Department of Justice Antitrust Division said Thursday that he pays no heed to criticism of the agency and tells staff to do the same, while asserting in Washington, D.C., remarks that there's no better time to come work for the DOJ.

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Fired 'Arctic Frost' Agents Accuse FBI Of Political Retribution

By Dorothy Atkins

Two former FBI agents who worked on the "Arctic Frost" investigation into President Donald Trump's attempts to overturn his 2020 election loss have accused the government of abruptly firing them in an unconstitutional act of "political retribution."

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