New York AG's Zelle Fraud Suit May Proceed, Judge Rules

By Jon Hill

A New York state judge has ruled New York Attorney General Letitia James can proceed with her lawsuit accusing Zelle operator Early Warning Services LLC of allowing fraud to fester on the mobile payment platform, denying its bid for dismissal of the case.

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London Aims For Global Appeal With Continuous Trading

By Najiyya Budaly

The London Stock Exchange said Tuesday that it will allow worldwide investors to trade on its platform continuously from Monday to Friday to boost its appeal across global time zones.

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Subprime Lender CashCall Hits Ch. 11 With Over $400M In Debt

By Alex Wittenberg

CashCall Inc., a subprime lender that once made loans with interest rates exceeding 130%, has filed for Chapter 11 protection in a California bankruptcy court facing legal judgments that total more than $400 million.

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Settlement Admins, Banks, Fintechs Target Conspiracy MDL

By Bryan Koenig

Two banks, three prepaid card companies and four major class action settlement administrators asked a D.C. federal judge to dismiss the consolidated proposed class action accusing them of a wide-ranging kickback scheme juicing administration fees while diminishing class action payouts.

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Tribes, Groups Back Iowa In Kalshi Sports Market Challenge

By Crystal Owens

Forty-one Indigenous groups, nations and the American Gaming Association are backing Iowa regulators in a challenge to stop the state from taking enforcement action against Kalshi's sports-events contracts, arguing that the prediction market "masks its wagers as derivatives contracts governed by the Commodity Exchange Act and Commodity Futures Trading Commission."

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Fintech Says Deutsche Bank Shouldn't Escape Blacklist Suit

By Katryna Perera

A self-described barter-based payment platform alleging it was improperly placed on an industry blacklist by Deutsche Bank has urged a New York federal judge not to grant the bank's dismissal bid, arguing the German lender has constructed an "unpled 'if ... then' scenario" and asks "the court to assume that it is factual."

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Claims Tossed That Fund Backed Child Sexual Abuse Material

By Bonnie Eslinger

A hedge fund and its affiliates have escaped claims over financing and advice they provided Pornhub's parent company, as a California federal judge found the suit didn't show they had a direct connection to traffickers who uploaded child sexual abuse material or that they knew the platform was "rampant" with the content.

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A&O Shearman Hires Davis Polk Restructuring Pro In NY

By Tracey Read

Allen Overy Shearman Sterling has hired a former Davis Polk & Wardwell LLP counsel as a restructuring partner in New York.

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How CME Suit May Reshape CFTC's Crypto Derivatives Rules

CME Group's recent lawsuit over the U.S. Commodity Futures Trading Commission's approval of a Kalshi application to offer a bitcoin perpetual contract as a futures product could have cascading consequences for crypto derivatives regulation, highlighting why policy ambitions do not override statutory text or substitute for reasoned decision-making, says attorney Tamara de Silva.

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High Court Rulings Could Alter Agency Strategy For Cos.

The U.S. Supreme Court's recent decisions in Trump v. Slaughter and Trump v. Cook mark major turning points in the law of independent agencies and in how regulated companies should think about federal enforcement, rulemaking and agency-facing strategy, say attorneys at Holtzman Vogel.

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How Competitive Is Your Pay? Last Call To Take Our Survey

Is your compensation keeping pace with the rate of inflation? Do you know what your colleagues made last year? Help Law360 Pulse answer these questions and more in this year's Law Firm Compensation Survey.

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Simpson Thacher Caused 'Chaos' With Deal, Jury Hears

By Cara Salvatore

The former chief financial officer of Patriot National Inc. testified to a Florida jury on Tuesday that "chaos" broke loose as funds that Simpson Thacher helped steward for the insurance services company hit public markets and executives found out that its terms differed from their understanding of them.

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Dems Press Skadden On Trump Pro Bono Pact, Intel Deal Work

By Lauren Berg

A group of Democrats demanded Tuesday that Skadden Arps Slate Meagher & Flom LLP disclose details of its pro bono arrangement with the Trump administration in light of allegations the firm advised both Intel Corp. and the U.S. Department of Commerce when the administration received a 10% company stake.

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Blanche Denies Conflict With Family's Firearms Company

By Courtney Bublé

Acting Attorney General Todd Blanche has close ties through his wife's family to a gun manufacturer that does federal contracting, but he told senators in questions following his confirmation hearing there is no conflict of interest, despite his service on a Justice Department task force aimed at rolling back gun control initiatives around the country.

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Trump, DOJ Sued For Firing Court-Appointed Seattle US Atty

By Bonnie Eslinger

Roger Rogoff, a former Washington state judge who was sworn in as Seattle's new U.S. attorney last week and then swiftly fired by the Trump administration, filed a federal lawsuit Tuesday against President Donald Trump and the U.S. Department of Justice, saying their "attempt to fire him cannot stand."

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Reagan-Appointed NC Federal Judge To Take Senior Status

By Courtney Bublé

U.S. District Judge Terrence William Boyle of the Eastern District of North Carolina plans to take senior status — a form of semi-retirement that gives federal judges a reduced caseload — at a date yet to be determined, according to a recent update from the federal judiciary.

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Senate Confirms Trade Court Pick Despite Past GOP Posts

By Courtney Bublé

The U.S. Senate voted 50-48 Tuesday evening to confirm Kara Westercamp, associate counsel to the president, to the U.S. Court of International Trade, who said during her confirmation in March she regretted her past social media posts critical of Republicans, including Sens. Mitch McConnell, R-Ky., Susan Collins, R-Maine, and the late Lindsey Graham, R-S.C.

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Bronx Public Defenders Set Strike Deadline

By Emily Sawicki

More than 300 unionized workers at legal aid organization The Bronx Defenders are set to walk out on July 27 if they cannot agree on a contract with the legal nonprofit's management, according to a Tuesday announcement.

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