Feds Seek 12 Years For Founder's 'Devastating' Crypto Fraud

By Aislinn Keely

Federal prosecutors say Terraform founder Do Kwon should face 12 years in prison, arguing that he "fled from the wreckage" after misleading investors ahead of a $40 billion collapse of his stablecoin crypto project.

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OCC, FDIC Scrap Obama-Era Leveraged Lending Guidance

By Jon Hill

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. on Friday formally withdrew from Obama-era guidance that sought to tighten bank leveraged lending standards, a policy that banks argued hamstrung them against nonbank rivals.

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Fed Can Fund CFPB Under Trump Admin's Terms, Court Told

By Jon Hill

A group of former Federal Reserve officials told a Washington, D.C., federal judge on Friday that the Trump administration is wrong to claim the central bank both needs and lacks profits right now to keep the Consumer Financial Protection Bureau up and running.

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Judge Denies Firms' Bid To Clarify CFPB's MoneyLion Deal

By Katryna Perera

A New York federal judge has denied a request by consumer advocate law firms to add clarifying language to the Consumer Financial Protection Bureau's recently approved $1.75 million settlement with MoneyLion Technologies Inc., noting that the advocates did not seek to intervene in the suit and that the CFPB and MoneyLion both oppose the request.

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Nickel For Your Thoughts? Dems Want Plan For Ending Penny

By Courtney Bublé

Top Democrats on banking and financial services committees are claiming the Trump administration has not formulated a sufficient plan for the transition away from the penny and are asking for a public plan by Dec. 12.

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Virtual Asset Fund Sues Game Dev Over Delays, NFT Fraud

By Sydney Price

An investment fund specializing in virtual "real estate" has accused a game developer of violating securities laws and breaching an agreement by failing to timely deliver an unregistered NFT associated with its unreleased game.

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Biz Didn't Own Patent, Judge Rules, Sinking Suit Against Bank

By Elliot Weld

A Texas federal judge has ruled that a patent-holding company did not actually own a patent it was asserting against a Canadian bank since the agreement transferring the patent rights to it was void as a matter of law, dismissing the company's allegations of infringement.

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Brief

NJ Judge Signs Off On $13M BlockFi Settlement

By Emily Lever

A New Jersey federal judge Friday gave final approval to a $13.2 million settlement with investors seeking damages for their business with the failed cryptocurrency lender BlockFi Inc., awarding $10,000 to each lead plaintiff.

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Linqto Gets OK To Take Votes On Ch. 11 Plan With Stock Deal

By Alex Wittenberg

A Texas bankruptcy judge Friday allowed investment platform Linqto to solicit votes from creditors on its Chapter 11 plan, saying potential issues with the debtor's third-party releases and challenges to the deal by investors could be considered during a confirmation hearing.

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DC Circ. Decision Reaffirms SEC Authority Post-Loper Bright

The recent denial of a challenge to invalidate 2024 amendments to the U.S. Securities and Exchange Commission's tick size and fee-cap rules reinforces the D.C. Circuit's deference to SEC expertise in market structure regulation, even after Loper Bright, though implementation of the rules remains uncertain, say attorneys at Sidley.

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How Fed. Circ. Shaped Subject Matter Eligibility In 2025

The Federal Circuit's most impactful patent eligibility decisions this year, touching on questions about obviousness and abstractness, provide a toolbox of takeaways that can be utilized during patent preparation and prosecution to guard against potential challenges, says Reilley Keane at Banner Witcoff.

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10 Commandments For Agentic AI Tools In The Legal Industry

Though agentic artificial intelligence has demonstrated significant promise for optimizing legal work, it presents numerous risks, so specific ethical obligations should be built into the knowledge base of every agentic AI tool used in the legal industry, says Steven Cordero at Akerman LLP.

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Bonus Spotlight

Katten Exceeds Market Bonus Scale, Orrick Matches

By Tracey Read

Katten Muchin Rosenman LLP has joined a select few law firms that have gone beyond the BigLaw norm for year-end and special bonuses.

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Immigration Lawyers Battle Burnout Amid Deportation Surge

By Daniel Connolly

As the Trump administration carries out a mass deportation campaign across the country, immigration attorneys faced with heavy demand and changing norms are feeling the impact of burnout and stress on their practices and emotions, they told Law360.

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Judges Beat Ethics Suits For Dropping Retirement Post-Trump

By Jake Maher

A Fourth Circuit judge and two district court judges have defeated ethics complaints from a conservative legal organization alleging they improperly reversed their decisions to take senior status after President Donald Trump was elected.

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Rosen Law Firm Sanctioned Over 'Frivolous' Investor Suit

By Lynn LaRowe

A Wisconsin federal judge has sanctioned The Rosen Law Firm PA for failing to conduct an adequate investigation before filing a "frivolous" securities complaint against an airline holding company.

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Utah Atty Avoids Monetary Sanction For 'Hallucinated' Cases

By Matt Perez

A Utah federal judge handling a trademark infringement matter has sanctioned an attorney for filing court documents with "hallucinated" cases, but instead of issuing a fine, the lawyer was ordered to read all the cases and authorities cited in the opinion and file a summary statement within 30 days.

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Supreme Court Halts Immigration Judges' Free Speech Suit

By Britain Eakin

The U.S. Supreme Court on Friday stayed a Fourth Circuit decision reviving a free speech suit from an immigration judges union challenging a policy barring them from speaking publicly about immigration without approval.

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Feature

For NY Inmate, Jamaica's Violence Waits Outside Prison Walls

By Rachel Rippetoe

Jamaican-born Eric Tolliver is nearing the end of his 33-year prison sentence in New York, but what waits for him on the other side might be worse: deportation to his home country, where many want him dead.

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Fla. Court Upholds Atty Disqualification In $1M Estate Dispute

By David Minsky

A Florida state appellate court on Friday affirmed the disqualification of an attorney who abandoned his client and began representing his client's adversaries in a $1 million probate case, finding that he likely violated ethics rules regarding conflicts of interest.

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Fla. Judge OKs Release Of Epstein Grand Jury Transcripts

By Rae Ann Varona

A Florida federal judge on Friday ordered the release of grand jury transcripts from an investigation of late sex offender Jeffrey Epstein, citing a newly enacted law that the government said overrides a prohibition on disclosing the documents to the public.

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Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

An SEC panel has asked the agency to adopt regulations that could standardize the way publicly traded companies report details about AI use. Meanwhile, the FCC approved AT&T's $1 billion UScellular deal after AT&T became the latest of the big three mobile carriers to agree to do away with diversity, equity and inclusion policies. These are some of the stories in corporate legal news you may have missed in the past week.

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Law360's Legal Lions Of The Week

By Kevin Penton

Gupta Wessler LLP and Block & Leviton LLP lead this week's edition of Law360 Legal Lions, after the Eleventh Circuit revived a proposed class action against NextEra Energy Inc. that seeks to hold the energy company liable for a share price drop that followed political interference allegations involving a subsidiary.

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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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