CoinFund, Co-Founder Clash Over $230K Equity Cashout

By Jarek Rutz

A co-founder of cryptocurrency investment firm CoinFund and his former business partners clashed in Delaware Chancery Court on Monday over whether a roughly $230,000 cashout offer for his 25% stake complied with their agreements or was part of a scheme to deprive him of a more valuable ownership interest.

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SEC Official Tells Advisers Not To Wait For AI Guidance

By Sarah Jarvis

The director of the U.S. Securities and Exchange Commission's Investment Management Division said that advisers should not "wait for regulators to hold your hands" as they use artificial intelligence, saying regulatory guidance may be "too limited and too late."

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Apple Wants Fake Crypto Wallet Apps Suit Tossed

By Katryna Perera

Apple has urged a California federal judge to toss a suit alleging it failed to warn consumers about fraudulent cryptocurrency wallet apps available on its App Store and the risk of cryptocurrency theft posed by those apps, saying the suit is deficient since it seeks to hold the tech giant liable for the conduct of third-party criminal scammers.

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Justices Asked To Resolve Nonsignatory Arbitration Split

By Caroline Simson

A trading firm is urging the U.S. Supreme Court to finally resolve whether an arbitrator or a court should decide the proper venue for a dispute involving a nonsignatory to an arbitration agreement, as it fights a Seventh Circuit opinion keeping a putative securities class action in court.

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SEC Says Ex-CEO's Hidden Stock Trades Are 'Undisputed'

By Sydney Price

The U.S. Securities and Exchange Commission has asked a New York federal court for a partial early win in its suit against the former CEO of a fintech firm it claims made secretive purchases of his own company's stock in order to inflate the price, saying he "undisputedly" failed to file certain required disclosure documents.

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Crypto Co. Seeks Contempt Order Against Australian Creditor

By Emlyn Cameron

Cryptocurrency mining firm Mawson has urged a Delaware bankruptcy judge to hold a creditor based in Australia in contempt of a previous order directing it to post a bond, arguing the creditor should be fined $10,000 per day until it complies.

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BofA Pushes To Dodge Renewed Military Interest Claims

By Tom Lotshaw

Bank of America urged a North Carolina federal judge to reject military service members' attempt to revive dismissed claims asserting that its credit card practices violated lending protections, arguing that they misinterpret the law.

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OCC Plan May Bring Data Sharing Flexibility, Diligence Issues

The Office of the Comptroller of the Currency's recent proposal to overhaul its supervisory information sharing regime for the first time in decades would provide important flexibility to banks, but it could create new issues around confidentiality agreements, disclosure controls and diligence processes, say attorneys at Simpson Thacher.

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DOJ Or Trump: Judge Asks Who Is Deciding Golf Course Plan

By Jared Foretek

Trump administration lawyers continued to insist at a hearing Monday there is no final plan to remake East Potomac Golf Course, and they changed their tune about whether one would require environmental review, despite new social media posts from the president announcing that work on the overhaul would begin "immediately."

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Wood Smith, Charlesbank Capital Ink Pioneering MSO Deal

By Emma Cueto

Insurance defense firm Wood Smith Henning & Berman has inked a deal to take investment from middle market investment firm Charlesbank Capital Partners via a managed services organization, according to an announcement Monday, the largest U.S. firm to announce such a move.

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Brief

Arizona Court Approves State's First Non-ABA Law School

By Emma Cueto

The Arizona Supreme Court has approved the state's first law school not accredited by the American Bar Association, citing the need to increase the number of lawyers per capita in the state and provide more affordable options for legal education.

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Court Denies Gov't Bid To DQ Susman Godfrey In ABA's Suit

By Andrea Keckley

A federal judge in Washington, D.C., has denied the U.S. Department of Justice's bid to disqualify Susman Godfrey LLP from representing the American Bar Association in its lawsuit challenging the Trump administration's executive orders against multiple major law firms. 

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Trump Taps DOJ Official, Federal Prosecutor For Judgeships

By Courtney Bublé

President Donald Trump on Monday nominated a senior U.S. Department of Justice attorney for a Nebraska federal judgeship and an assistant U.S. attorney for a seat on the Northern District of Indiana bench.

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Rogoff Tells 9th Circ. His Firing Furthers Trump's 'Evil' Plan

By Ben Adlin

Roger Rogoff urged the Ninth Circuit to affirm a lower judge's order reinstating him as Seattle's top federal prosecutor, asserting in a filing Friday that he's entitled to keep the court-appointed U.S. attorney position until President Donald Trump fills the role with a Senate-confirmed nominee.

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Proskauer Says It Didn't Drop Reddit To Defend Perplexity

By Lauren Berg

Proskauer Rose LLP and Perplexity AI are urging a New York federal judge to allow the law firm to represent the artificial intelligence company in Reddit's suit over alleged data scraping, balking at the social media platform's argument that its one-time law firm can't represent its current opponent.

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What The Justices Won't Hear: A Roundup Of Cert Denials

By Taylor Bowie

The U.S. Supreme Court declined to take up cases from Google, a U.S. Navy contractor, and other appellate hopefuls on Monday, according to an order list.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court last week blocked Cloudflare Inc. from completing a restructuring meant to preserve its founders' voting control, while Tower Semiconductor Ltd. accused Intel Corp. of backing out of a semiconductor manufacturing agreement and social media company Triller Group Inc. challenged its removal from Nasdaq.

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