Justices Seek Feds' Input On Robinhood Investor Suit

By Jessica Corso

The U.S. Supreme Court on Monday asked the government to weigh in on a dispute between trading app operator Robinhood and investors who sued over the company's $2.1 billion initial public offering, as the high court considers whether to hear the case.

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Investors Say Overnight Crypto Founder 'Diverted' $12.5M

By Aislinn Keely

A California federal judge on Monday dissolved a temporary order freezing $12.5 million in crypto at the center of a proposed class action from investors who claim the founder of crypto project Overnight "diverted" funds after promising them a share of control.

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JPMorgan Defeats Suit Over Transaction Processing Patent

By Adam Lidgett

JPMorgan Chase & Co. was able to dodge a suit accusing it of infringing a patent covering a way to process a financial transaction, after a Delaware federal judge agreed that the patent didn't pass the U.S. Supreme Court's Alice test.

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UK Fintech OpenPayd To Go Public Via $1.15B SPAC Deal

By Sydney Price

Allen Overy Shearman Sterling and Winston & Strawn LLP are steering a deal under which financial infrastructure platform OpenPayd will be acquired and taken public at an estimated equity value of $1.15 billion by Titan Acquisition Corp., a special purpose acquisition company purportedly focused on high-growth fintechs, the parties announced Monday.

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Ill. Swipe-Fee Law Blocked For Most Banks, Slated For Delay

By Jon Hill

A Chicago federal judge ruled Monday that Illinois cannot enforce its landmark ban on tax-and-tip swipe fees against most banks, handing the banking industry a major legal win the same day that state lawmakers voted separately to delay the ban altogether until next year.

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Feds Must Share Info On Source Code They Say Was Stolen

By Elliot Weld

A New York federal judge on Monday denied a quantitative trader's bid to escape a charge of trade secret theft but granted his request for prosecutors to turn over information on the source code he allegedly stole.

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Cere Founder Says Sale Pact Bars $13M Crypto Fraud Suit

By Joyce Hanson

Cere Network's founder and others targeted in a $13 million suit over a purported cryptocurrency fraud scheme involving the decentralized data cloud platform have asked a California federal judge to send the dispute to arbitration in San Francisco.

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TriZetto, Infosys Fight Each Side's CEO Deposition Bids

By Ivan Moreno

Cognizant TriZetto Software Group and Infosys Ltd. have filed dueling motions to block depositions of each other's top executives in a trade secret lawsuit over allegations that Infosys misused confidential access to TriZetto's healthcare software to build competing products.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week handled disputes involving merger litigation, startup financing battles, cryptocurrency contracts, investor oversight claims and corporate governance challenges, while also issuing notable rulings in cases tied to World Wrestling Entertainment Inc., cybersecurity company KnowBe4 Inc. and biotechnology firm Ayala Pharmaceuticals Inc.

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White & Case Adds 6 Partners Across US, UK

By Daniel Moritz-Rabson

White & Case LLP announced Monday the addition of six new partners to multiple practice teams across the United States and the United Kingdom.

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Opinion

Regulators Should Use Existing Tools To Jump-Start Crypto

The U.S. Securities and Exchange Commission and U.S. Commodity Futures Trade Commission should use existing authority to quickly enable crypto trading, custody, clearing and settlement to reduce uncertainty and lay the groundwork for permanent crypto rules, says Lee Schneider at Ava Labs.

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What End Of SEC Settlement Gag Rule Means For Defendants

The U.S. Securities and Exchange Commission's recent rescinding of its gag rule prohibiting defendants from publicly denying allegations in settled SEC enforcement actions actually heightens the need to think strategically when negotiating resolutions and pursuing public denials of wrongdoing, say attorneys at Cleary.

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Milbank Raises Associate Pay Scale, Topping Out At $455K

By Kevin Penton

Milbank LLP is increasing associate pay by $10,000 to $20,000 annually, with new salary floors of $235,000 and pay reaching as high as $455,000 for more experienced attorneys, according to the firm.

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BigLaw Could Tap PE Money For Advantage In Talent Wars

By Ryan Boysen

BigLaw firms may soon partner with private equity to gain an edge in the talent wars, potentially reshaping the U.S. legal industry despite fears that the shift could corrode firms' cultures.

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Fox Rothschild Atty Censured Over $2.7M In Unapproved Fees

By Adrian Cruz

A New Jersey-based bankruptcy partner at Fox Rothschild LLP has been censured by the Supreme Court of New Jersey after she was found to have wrongfully disbursed over $2.7 million in fees to her former firms without approval.

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Chicago US Atty Report Denies Grand Jury Misconduct Claim

By Lauraann Wood

The Northern District of Illinois' top prosecutor sought to offer clarity Tuesday surrounding accusations of his possible interference with grand jury proceedings that preceded a criminal conspiracy indictment against six protesters, releasing a special report one defendant's attorney says raises more questions than it answers.

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7th Circ. Fines Deported Migrant's Atty For ChatGPT Misuse

By Emily Sawicki

The Seventh Circuit has rejected a Mexican citizen's petition challenging an immigration court's removal order on the merits, while sanctioning his attorney $5,000 for filing two legal briefs "riddled with" fabricated quotes and case citations hallucinated by ChatGPT.

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Exclusive

Cooley Launches Global Hearings Practice As Scrutiny Rises

By Daniel Moritz-Rabson

Cooley LLP has established a global hearings and inquiries practice to help companies prepare comprehensive strategies as they face increased regulatory scrutiny across multiple jurisdictions, the firm exclusively told Law360 on Tuesday.

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Ex-McDermott, Venable Attys Sued Over Estate's $40M Tax Bill

By Dorothy Atkins

The estate of a successful dentist who died in 2017 sued McDermott Will & Schulte LLP, Venable LLP and two attorneys in California state court Monday, alleging they gave negligent legal advice in planning the dentist's estate causing it to owe the IRS $40 million in taxes and penalties.

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Dem AGs Slam Climate Science Removal From Judicial Guide

By Jack Karp

The federal judiciary's decision to strike a chapter on climate change from its guide to scientific evidence is misguided, partisan and "will impede the judiciary's ability to pursue truth," according to a Tuesday letter from nearly two dozen Democratic state attorneys general.

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Bipartisan Bill Would Modernize Court Records Systems

By Matt Perez

U.S. Sens. John Kennedy, R-La., and Ron Wyden, D-Ore., on Tuesday jointly introduced the Open Courts Act, which they said would modernize the court records systems PACER and CM/ECF.

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Feature

AI Software Contracts Need Careful Review, Attys Are Warned

By Aaron Keller

Attorneys considering adopting artificial intelligence tools must ensure software contracts comply with data privacy laws, and firms should not be afraid to quiz software sales representatives, including by asking how long the software retains data, representatives from two law firms told Connecticut lawyers Tuesday.

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Analysis

Attys Worried Where ICE Will Draw Line In Asylum Crackdown

By Britain Eakin

Immigration attorneys are bracing for heightened scrutiny after the U.S. Department of Homeland Security said it would crack down on attorneys filing fraudulent asylum claims, expressing fears that the agency could blur the line between fraud and legitimate advocacy.

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DOJ Won't Move Forward With $1.8B Fund, Blanche Confirms

By Courtney Bublé

Acting Attorney General Todd Blanche told lawmakers Tuesday, "we're not moving forward" with the controversial $1.8 billion settlement fund.

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Senate Confirms Montana, Kansas Judges

By Courtney Bublé

The Senate confirmed judges Tuesday for Montana and Kansas, one of whom was the first judicial nominee of the second Trump administration to receive a "not qualified" rating from the American Bar Association.

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Titan Of The Plaintiffs Bar: Arias Sanguinetti's Mike Arias

By Joyce Hanson

When she was team captain with a track and field scholarship at the University of Southern California in the 1990s, Nicole Haynes was in good health and rarely had to see a doctor. So when she got a bad stomachache and her friends encouraged her to visit the USC health center, Haynes said she didn't have the right words to explain why her experience with Dr. George Tyndall had felt so invasive and wrong.

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