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 Recounts Firing: 'This Feels Wrong'

By Pete Brush

A former associate who claims DLA Piper unlawfully fired her after she announced she was pregnant told a Manhattan federal jury Tuesday that she got positive feedback as she worked with large corporate clients and was "shocked" when she was terminated.

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5 Firms Advise On Gilead's Up To $5B Tubulis Acquisition

By Al Barbarino

Gilead Sciences Inc. said Tuesday it has agreed to acquire German clinical-stage cancer biotechnology company Tubulis for up to $5 billion, in a deal steered by five law firms.

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Approach The Bench: Judge Robinson On Community Court

By Cara Bayles and Steven Trader

Judge Devin Robinson's courtroom at the Red Hook Community Justice Center looks and feels very different from the courthouse archetype.

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Kirkland Adds DLA Piper Gov't Contracts Attys In Texas, DC

By Lynn LaRowe

Kirkland & Ellis LLP announced Tuesday that it has strengthened its government contracts practice group with an Austin, Texas-based partner and a Washington, D.C.-based associate who both came aboard from DLA Piper.

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Calif. Lawmakers Advance Bill To Curtail PE Role In Litigation

By Emily Sawicki

A California bill to ban corporate investors from influencing litigation strategy is heading to the state Senate, backed by bipartisan support from the Assembly.

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Goodwin Grows Restructuring Team In New York And Boston

By James Boyle

Goodwin Procter LLP has grown its financial restructuring practice with the addition of attorneys in the New York and Boston offices with more than 40 years' combined experience at WilmerHale.

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Blanche Says Only Trump Knows Why Bondi's Leaving DOJ

By Courtney Bublé

Todd Blanche said on Tuesday he is now acting attorney general and no one, beyond the president, knows why Pam Bondi is out and he is in.

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DOJ Pushes To End Former Immigration Judge's Bias Suit

By Jake Maher

The U.S. Department of Justice moved to dismiss a former Ohio immigration judge's discrimination suit in D.C. federal court this week, calling the complaint "heavy on conclusory statements and speculation and light on allegations of fact."

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States, DC Back NY AG James In DOJ Probe Appeal

By Emily Sawicki

Backed by amici including the attorneys general of 20 states and the District of Columbia, New York Attorney General Leticia James is fighting the U.S. Department of Justice's bid to reopen an investigation into her office launched by a federal prosecutor found to have been serving unlawfully.

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Judge Who Quit Bench Amid Ethics Probe Hired By Fani Willis

By Chart Riggall

A Georgia trial court judge who resigned this year before facing the prospect of removal from the bench over a range of misconduct charges has been hired by Fulton County District Attorney Fani Willis, a spokesperson for Willis confirmed Tuesday.

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Texas Panel Keeps Ex-GC's Suit Over Unpaid Bonuses Alive

By José Luis Martínez

A Texas appeals court on Tuesday kept in play a suit by a dairy equipment manufacturer's former general counsel over unpaid bonuses, holding that updated anti-SLAPP rules applied to newly added claims in the suit and that the company failed to meet procedural requirements in trying to dismiss them.

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