Kalshi Hit With Order To Show Cause Over NY AG Subpoena

By Sarah Jarvis

A New York state court Friday ordered Kalshi to show why it should not comply with a subpoena from New York Attorney General Letitia James regarding a civil investigation into the prediction market giant's potentially fraudulent and deceptive advertising.

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FinCEN Scraps Unpopular Cross-Border Recordkeeping Plan

By Aislinn Keely

The Financial Crimes Enforcement Network said Friday it has withdrawn a controversial six-year-old proposal that planned to significantly lower the threshold for collecting and transmitting identifying information for financial transactions across U.S. borders and apply the requirements to cryptocurrency.

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OKCoin Beats $2M Hacker Crypto Theft Suit

By Sydney Price

A California federal judge has permanently tossed a proposed class action accusing digital asset exchange OKCoin and its affiliates of enabling cryptocurrency thieves, ruling the plaintiffs' allegations that the company lacked certain safeguards do not show it is liable for the losses.

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Quant Trader Denies Using Stolen Recipe At Code Theft Trial

By Pete Brush

A California quant trader accused of stealing billion-dollar code from his former employer argued to a New York federal jury that he did not use any secret recipe at a new venture, denying trade secrets theft charges.

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US Charges 3 Over $129M AI Scam Using Fake UK Lawyers

By Laura Stewart Liberty

U.S. prosecutors said Thursday they have charged three men, including one facing extradition from London, for allegedly defrauding companies of $129 million through a scheme that used AI to impersonate executives and U.K. lawyers.

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Orrick Hires Fenwick Partner To Expand TM Practice In NY

By Ivan Moreno

Trademark attorney Mark Jansen has joined ​Orrick Herrington & Sutcliffe LLP as a partner in New York after 15 years at Fenwick & West LLP, Orrick has announced.

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How Feds' Shifting Guidance Hits Bank-Fintech Partnerships

A slew of recent Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency reforms will ultimately give banks and fintechs more flexibility in third-party oversight and supervisory information sharing, but institutions still must document risk-based decisions and engage proactively with regulators, say attorneys at Husch Blackwell.

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What To Watch As Florida Stablecoin Framework Takes Shape

As Florida's new payment stablecoin licensing framework enters its second month, requiring issuers to map applicable state and federal obligations and account for certification and rulemaking uncertainty, businesses should build core controls while keeping launch plans and contracts flexible, says Rob Brighton at Becker.

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Opinion

Judges Must Turn To Merits Earlier To Fix Civil Justice System

The U.S. justice system is long overdue for a cultural shift that encourages judges to engage with the merits of a case from the outset, which would help to cut through procedural complexities and deliver high-quality justice efficiently and at lower cost, says Steven Kayman at Rottenberg Lipman.

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Are You Happy With Your In-House Role? Take Our Survey

Is your company giving you everything you need to succeed? What are some misconceptions about working in-house? Help Law360 Pulse answer these questions and more in this year's In-House Satisfaction Survey.

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Squire Patton, Baker McKenzie Hit With Data Breach Suits

By Rae Ann Varona

Squire Patton Boggs LLP and Baker McKenzie failed to protect private personal information stored in the law firms' systems from separate cyberattacks and delayed notifying affected individuals for roughly two months, two proposed class actions filed in Ohio and Illinois federal courts have alleged.

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Law360's Legal Lions Of The Week

By Kevin Penton

Susman Godfrey LLP, Langer Grogan & Diver PC, Hausfeld LLP and MoloLamken LLP lead this week's edition of Law360 Legal Lions, after the Ninth Circuit ruled that a former federal judge erred by scrapping a $4.7 billion jury verdict against the National Football League in a class action over the price of its Sunday Ticket broadcast package.

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Judge Kewalramani Warns Against Taking Sanctions Lightly

By Dani Kass

Retired U.S. Magistrate Judge Shashi Kewalramani on Friday cautioned patent attorneys to be extremely discerning when filing sanctions motions, comparing it to crying "fire" in a crowded room.

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Brief

US Legal Sector Jobs Reached Record High In October

By Tracey Read

The legal industry's hot streak continued last month, adding 2,400 more jobs in October to reach a record high, according to seasonally adjusted data released Friday by the U.S. Bureau of Labor Statistics.

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Defeated Texas Justice Being Considered For Federal Bench

By Courtney Bublé

With the clock ticking on Republicans' control of the Senate, President Donald Trump is considering putting a Texas Supreme Court justice who just lost reelection on the federal bench.

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Attys Can Curb AI Error Fallout With Candor, Accountability

By Andrea Keckley

Nearly four years since ChatGPT launched and the legal industry began experimenting at scale with generative artificial intelligence, not a month goes by without another attorney finding a hallucination error in a court filing.

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Top Blanche Adviser Among Latest To Exit DOJ

By Jared Foretek

A top legal adviser to U.S. Attorney General Todd Blanche announced his departure from the U.S. Department of Justice Friday, becoming the latest in a slew of high-profile resignations from the department since Republicans' midterm election defeat Tuesday night.

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Ice Miller Sued Over $729K Award After Losing Federal Forum

By Andrea Keckley

A couple who hired Ice Miller LLP to defend their organization against a breach of contract suit have accused the firm in Indiana federal court of exposing them to additional litigation with a settlement that failed to preserve federal jurisdiction over future disputes.

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Law Firm Sues Sierra Leone Over $361K Legal Bill

By Jared Foretek

Law firm Cohen Seglias Pallas Greenhall & Furman PC claims in a complaint filed in D.C. federal court that Sierra Leone's government stiffed it on more than $300,000 in legal fees and costs after the firm defended it against earlier claims of unpaid fees by Jenner & Block.

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Mich. Supreme Court Chief Next To Lead Chief Justice Group

By Melanie Dorsey

The Michigan Supreme Court's chief justice has been named president-elect of the Conference of Chief Justices, a national organization representing the highest-ranking state judicial officers, and she plans to focus on expanding access to legal services, reforming attorney licensing and strengthening courthouse security.

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Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

The U.S. Department of Justice's new cash rewards program for tips on criminal fraud could backfire in some cases, experts say. Elsewhere, attorneys are weighing new strategies in the wake of Texas' historic blue shift during the midterm elections. These are some of the stories in corporate legal news you may have missed in the past week.

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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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