3rd Circ. Backs Kalshi In Prediction Markets Battle With NJ

By George Woolston

A split Third Circuit panel on Monday backed a lower court's order blocking New Jersey from enforcing a sports gambling ban on trading platform KalshiEx, with the dissenting judge calling Kalshi's actions a "performative sleight" meant to hide that its products are sports gambling.

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Crypto Lobby Pushes Back On Call For Rules, Not Exemptions

By Aislinn Keely

The Blockchain Association on Monday urged the U.S. Securities and Exchange Commission to stay the course on its plans to issue exemptions for crypto projects, firing back at Citadel Securities' assertions that decentralized projects should broadly face the same obligations as traditional SEC-regulated intermediaries.

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BNY, Robinhood To Help Roll Out Trump Accounts

By Anna Scott Farrell

The Bank of New York Mellon Corp. will be the federal government's financial agent in helping implement the new tax-advantaged brokerage accounts for children called Trump accounts, the U.S. Treasury Department said Monday.

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Ill. AG Urges 7th Circ. To Uphold Landmark Swipe-Fee Law

By Jon Hill

Illinois Attorney General Kwame Raoul has urged the Seventh Circuit to rule that his state may fully enforce its Interchange Fee Prohibition Act against national banks and other financial institutions, defending its ban on tax-and-tip swipe fees amid a banking industry appeal.

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Trump Admin Seeks $25M FinCEN Budget Boost

By Sarah Jarvis

The Trump administration's latest budget plan calls for a more than 13% increase in spending for the Financial Crimes Enforcement Network, with nearly half of its total requested staffing increase for the agency slated for positions focused on deregulation related to the Bank Secrecy Act.

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JPMorgan's Dimon Has 'Mixed' Feelings On Capital Revamp

By Jon Hill

The head of the nation's largest bank on Monday raised doubts about the Trump administration's plan to overhaul bank capital rules, casting it as an improvement on a Biden-era draft while saying it still includes some "frankly nonsensical" aspects.

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Citi Tells 2nd Circ. EFTA Exempts Wire Transfers 'End-To-End'

By Katryna Perera

A Second Circuit panel Monday seemed responsive to Citibank's arguments that consumer-initiated electronic wire transfers are carved out from the Electronic Funds Transfer Act under a longstanding exemption in the statute, in a suit from the New York attorney general over the bank's response to online wire transfer fraud incidents.

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Google Can't Nix Former Exec's Gender Bias Jury Verdict

By Patrick Hoff

Google can't scrap a jury verdict in favor of a female executive who claimed she was treated less well than male colleagues and passed over for promotion because she complained, a New York federal judge ruled, while slashing a $1 million punitive damages award to $250,000.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court's docket this past week featured a mix of high-profile corporate disputes, insider trading allegations, contract fights and significant rulings shaping fiduciary duty and deal litigation.

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How SEC And CFTC Are Attempting To End Their 'Turf War'

Through coordinated examinations and a shared aim to end duplicative regulation, the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission's recent memorandum of understanding could represent a significant shift in the regulatory landscape for market participants subject to the jurisdiction of both agencies, say attorneys at Jenner.

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Regulators' Basel Pitch May Bring Banks Capital Relief

The prudential banking agencies' new proposals to implement the so-called Basel III endgame rules — which would modify the approach to risk-based capital, among other notable changes — represent a fundamental directional shift in bank capital requirements aimed at increasing lending capacity, says Chen Xu at Debevoise.

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What A Court Doc Audit Reveals About Erroneous Filings

My audit of 1,522 court documents from last month found that over 95% contained at least one verifiable error, with fewer than 1% showing clear indicators of artificial intelligence use — highlighting above all else that lawyers may want to focus most on strengthening their review processes, says Elliott Ash at ETH Zurich.

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Pregnant DLA Piper Atty Fired For 'Sloppy' Work, Jury Told

By Pete Brush

A former trademark associate told a Manhattan federal jury Monday that DLA Piper "blindsided" her with termination after she announced she was pregnant, but the BigLaw firm countered that she was fired for "repeated mistakes" and other on-the-job shortcomings.

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Files Of 10 Jones Day Clients Breached In Cyberattack

By Aebra Coe

Jones Day is the latest law firm to be hit by a cyberattack, the firm confirmed Monday, revealing that an unauthorized party accessed files of 10 clients.

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Troutman, Ex-Associate Reach Deal In Discrimination Suit

By Emily Sawicki

A former Troutman Pepper Locke LLP associate asked a D.C. federal court Monday to pause a suit as the two sides have reported they had reached a settlement agreement over her discrimination claims against the firm, sidestepping a trial set to begin next month.

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Ex-EEOC Leaders Back BigLaw Firms In Trump EO Appeal

By Patrick Hoff

A group of former U.S. Equal Employment Opportunity Commission officials are backing four BigLaw firms in the Trump administration's consolidated D.C. Circuit appeal seeking to revive executive orders targeting the firms, arguing the president's directives contradict how Congress meant for the EEOC to operate.

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Jackson Walker, Sorrento CEO Hit With RICO Suit Over Ch. 11

By Emlyn Cameron

More than a dozen Sorrento Therapeutics shareholders sued law firm Jackson Walker LLP and the defunct biopharmaceutical company's ex-CEO for over $100 million, accusing them of conspiring to launch an unnecessary bankruptcy in an irrelevant jurisdiction.

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Analysis

Can State Courts Tame The 'Wild West' Of Judicial Security?

By Cara Bayles

As threats against local judges continue to ramp up, protection and incident tracking varies not only from state to state but county to county, making it difficult to draw the national judicial security landscape. Now, lawmakers are looking to use federal resources to even out disparities.

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LSC Seeks $2.14B As White House Pushes To Slash Funding

By Marco Poggio

The Legal Services Corp. is asking Congress for $2.14 billion in fiscal year 2027 to fund civil legal services for low-income Americans who cannot afford an attorney.

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Atty Convicted Of Staging Truck Crashes Seeks New Trial

By Parker Quinlan

A disbarred New Orleans attorney has asked a federal judge in Louisiana for a new insurance fraud trial, arguing a suite of issues from her federal trial last month caused her to receive what she described in a filing as a "miscarriage of justice."

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Trump Orders Could Chill US Arbitration, Group Warns

By Caroline Simson

The College of Commercial Arbitrators has urged the D.C. Circuit to reject the Trump administration's consolidated D.C. Circuit appeal seeking to revive executive orders yanking the security clearances of four BigLaw firms, arguing a contrary ruling would "imperil" arbitration in the U.S.

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Ex-Wis. Judge Loses Bid To Shake ICE Obstruction Conviction

By Lauren Berg

A federal judge Monday refused to overturn a former Wisconsin state judge's conviction for helping shield a defendant in her courtroom from arrest by U.S. Immigration and Customs Enforcement agents, rejecting her contention that, because ICE had no authority to make the arrest in the courthouse, there was no obstruction.

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Ill. Justices Want MAGA Op-Ed Author Judge's Claims Axed

By Emily Sawicki

Illinois Supreme Court justices have asked a Chicago federal judge to throw out constitutional claims filed by a retired Illinois state trial court judge alleging he was wrongfully terminated over protected speech in a political opinion column, with the justices arguing the federal court should not interfere with a state court matter.

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Justices Clear Path For DOJ To Dismiss Bannon's Conviction

By Cara Salvatore

The U.S. Supreme Court on Monday vacated an appeals court's order upholding Steve Bannon's conviction over his nonresponse to a congressional subpoena investigating the Jan. 6 insurrection, clearing the way for the Justice Department to dismiss his indictment.

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