Utah has brought criminal charges in state court against Kalshi and its co-founders under its anti-gambling laws, amid an ongoing jurisdictional battle over whether federal law preempts state and tribal regulation of the prediction market platform's sports event contracts.
Utah has brought criminal charges in state court against Kalshi and its co-founders under its anti-gambling laws, amid an ongoing jurisdictional battle over whether federal law preempts state and tribal regulation of the prediction market platform's sports event contracts.
The Federal Trade Commission and eight states sued Toast Inc. on Thursday, accusing the restaurant software company of saddling restaurants with hidden fees, failing to provide promised customer support and making it difficult to cancel its services.
The U.S. Securities and Exchange Commission has reopened a $200 million crypto Ponzi scheme case that landed it in hot water two years ago, saying that the individuals behind the company known as Debt Box misled investors into believing that they were spending on real-world projects.
Betting platform Kalshi, advised by Cooley LLP, on Thursday revealed that its valuation skyrocketed to $40 billion after it wrapped its latest fundraising round with $1 billion of investor commitments.
One of the nation's oldest civil rights groups Thursday sued to overturn the Consumer Financial Protection Bureau's recent rollback of longstanding federal protections against lending discrimination, widening the ongoing legal battle against the controversial rule change.
The Public Company Accounting Oversight Board announced Thursday that it could soon alter its regulations in a way that could make it easier for companies to choose semiannual reporting should the U.S. Securities and Exchange Commission adopt those changes to the public-company reporting schedule.
The U.S. Securities and Exchange Commission hit BG Wealth Sharing Ltd. and crypto-platform DSJ Exchange Pty Ltd. with a civil lawsuit in California federal court Thursday, alleging their scam investment apps defrauded investors out of $130 million by posing as the "world's largest hedge fund" and submitting bogus SEC filings.
Massachusetts Sen. Elizabeth Warren, the ranking Democrat on the Senate Committee on Banking, Housing, and Urban Affairs, called for a federal criminal probe Thursday into Bank of America after the U.S. Treasury Department fined the institution $1.2 billion this month over alleged anti-money laundering failures.
A Pennsylvania federal judge on Thursday appeared reluctant to block the U.S. Securities and Exchange Commission's subpoena seeking information about voting advice that proxy adviser Institutional Shareholder Services gives to institutional investors despite ISS' concerns about political retaliation.
A California federal judge has certified a narrowed class of investors in Block Inc., the parent company of Square and Cash App, in a suit alleging the company failed to maintain a "strong compliance infrastructure" and misled investors about the growth of Cash App, leading to an 84% stock price decline once the truth came to light.
Binance has asked a Florida federal judge to dismiss a consolidated suit accusing it of failing to prevent stolen funds from being moved through its platform, saying that even if it identified the suspicious transactions and reported them, that wouldn't have stopped criminals from stealing the crypto.
GoFundMe has announced it welcomed the chief compliance officer of Fiserv as its own compliance head to lead the fundraising platform's global compliance strategy, following her previous roles at First Data and Citi.
The Texas Business Court's recent decision in Guillaume v. Armstrong, finding that a shareholder's claims against Coinbase, originally incorporated in Delaware, are nonetheless subject to Texas presuit demand law if made after reincorporation, provides a procedural advantage for companies that have made the move, say attorneys at Cleary.
Statistics show that the U.S. Securities and Exchange Commission brought a historically low number of enforcement actions during Paul Atkins' first full fiscal year as chairman, delivering on his promise to reduce enforcement in program areas focused on recordkeeping and other technical violations, say attorneys at Covington.
In this month's bid protest roundup, Michael Ols at MoFo offers takeaways from recent decisions examining bait-and-switch protest claims, the scope of a contractor teaming agreement and the use of an affiliate’s past performance.
Several recent decisions from the Federal Circuit, including its ruling in Berkeley v. W.W. Grainger, highlight the importance of identifying the inventive aspects of a patent early in the case so that patentees do not inadvertently read the inventive features out of their own claims, say attorneys at MoFo.
The stunning collapse of Weil Gotshal & Manges LLP is the talk of BigLaw this week, as those in the industry grapple with how the powerhouse Wall Street firm could implode so quickly.
Weil Gotshal & Manges LLP leaders may have every reason to agree to an out-of-court wind-down, but dissolving such a storied law firm, which announced Wednesday it intends to shut down following an exodus of attorneys, is not as simple as a handshake among partners, experts said in interviews with Law360 on Wednesday.
Weil Gotshal & Manges LLP helped pioneer modern bankruptcy practice and earned hundreds of millions of dollars leading many of the biggest Chapter 11 cases in U.S. history. Its collapse this week marks a stunning end to that legacy and reflects major changes in how law firms function today, attorneys told Law360.
Troutman Pepper Locke LLP and Baker McKenzie experienced data breaches last month as a result of social engineering attacks, according to notices submitted this week to the attorneys general offices in California and Texas.
Personal injury giant Morgan & Morgan PA has asked a Florida federal court for a preliminary injunction to block a Sunshine State bar rule that forbids celebrity endorsements in attorney advertisements.
