Turkish Fintech Exec Cops To Duping Venture Capital Backers

By Pete Brush

A fintech executive from Turkey copped to a count of securities fraud Friday, telling a Manhattan federal judge that she lied to seed-round investors who backed her Kalder Inc. startup and agreeing to forfeit about $7 million.

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Payments Co. Cliq Must Pay $6.5M For Violating FTC Deal

By Aislinn Keely

A Nevada federal judge has directed Cliq Inc. and its executives to pay a $6.5 million sanction over the Federal Trade Commission's claims the payment processor violated the terms of a 2015 settlement by continuing to work with high-risk merchants that allegedly defrauded customers.

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Detroit Says Robinhood Sports Contracts Imperil Its Economy

By Ganesh Setty

The city of Detroit has urged a Michigan federal court to deny Robinhood Derivatives LLC's bid to block the state from enforcing its state gaming laws, arguing the company's sports-related event contracts threaten Detroit's tax revenue and local economy.

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Fed. Circ. OKs Decisions Clearing Banks In Patent Cases

By Adam Lidgett

The Federal Circuit on Friday backed lower court decisions that cleared a pair of banks of allegations that they infringed an online banking patent, but threw out a nearly $85,000 sanctions order against the patent owner and its counsel.

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Analysis

4 Key Takeaways From SEC's Semiannual Reporting Proposal

By Jessica Corso

The U.S. Securities and Exchange Commission recently put forth a plan that could allow publicly traded companies to move from a quarterly to a semiannual reporting schedule, but whether they choose to do so and how that could impact both the growth of the public markets and insider-trading plans for corporate leaders remains up for debate.

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OCC Adopts Rules To Curb State Escrow-Interest Laws

By Jon Hill

The Office of the Comptroller of the Currency moved Friday to shield many of the nation's biggest banks from state requirements to pay interest on homeowner mortgage escrow accounts, finalizing a pair of rules that extend its push to bolster federal banking preemption.

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Groups Drop CFPB Suit Over Stalled Biden-Era Small-Biz Rule

By Sarah Jarvis

Consumer-aligned groups that sued to force the Consumer Financial Protection Bureau to implement its Biden-era reporting requirements for small-business lenders have voluntarily dropped their case, according to a Friday federal court filing.

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Alston & Bird, Banks Sued Again Over $328M Goliath Scam

By Jack Karp

Another proposed class of investors sued Alston & Bird LLP and a trio of financial institutions Friday over their alleged roles in a $328 million cryptocurrency scam orchestrated by Goliath Ventures Inc.

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Caitlyn Jenner Faces Fresh Suit Over Meme Coin Collapse

By Emilie Ruscoe

Media personality and former Olympian Caitlyn Jenner faces potential class action fraud claims in California state court over the collapse of her meme coins after a similar action was tossed from federal court last month because a judge said the plaintiff couldn't sustain his securities fraud claims.

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Marketer Says It Was Pawn In Med Supplier's Crypto Pivot

By Julie Manganis

A Massachusetts marketing firm says a medical supply company used it to broker a $50 million deal with another supplier, touted the arrangement to investors, then abruptly turned itself into a cryptocurrency business, stiffing the plaintiff out of anticipated commissions.

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3 AI Adoption Mistakes GCs Should Avoid

The pressure in-house legal teams face to quickly adopt artificial intelligence tools, combined with budget constraints and the need to evaluate a crowded market of options, sets the stage for implementation mistakes that are often difficult to undo, says former 23andMe general counsel Guy Chayoun.

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Murdaugh Sues Ex-Court Clerk Who Tried To Sway The Jury

By Jack Karp

Disgraced attorney Alex Murdaugh is suing the court clerk whose attempt to influence the jury in his murder trial led the South Carolina Supreme Court to overturn his murder conviction.

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Morgan & Morgan Atty Barred From Harvard Suit Over AI Error

By Chris Villani

A Massachusetts judge on Monday said a Morgan & Morgan PA attorney may not appear before him in a suit against Harvard University over the theft of body parts donated to its medical school, saying the lawyer did not learn his lesson after signing off on briefs in another case with fake case law generated by artificial intelligence.

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Trump Seeks Circuit Seats For 2 Judges He Appointed

By Courtney Bublé

President Donald Trump's recent picks for the Eighth and Tenth Circuits mark the first time in his second administration that he's seeking to elevate judges he appointed in his first term.

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Health Co. Wants Kirkland Off IP Case For 'Cardinal Sin'

By Elliot Weld

A healthcare company suing medical technology company Commure Inc. over alleged trade secret theft has said Kirkland & Ellis LLP should be disqualified from representing Commure because the healthcare company had tried to retain Kirkland prior to filing the suit and shared confidential information before anyone asked who the defendant was going to be.

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Wyoming Prosecutor Confirmed Despite Misconduct Rebuke

By Courtney Bublé

Just a few days ago, federal judges tossed nine criminal indictments after President Donald Trump's pick to lead the U.S. attorney's office of Wyoming was accused of prosecutorial misconduct. On Monday evening, he was confirmed to permanently lead the office.

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Analysis

Half The Nation's Bar Apps Could Remove Rape Questions

By Cara Bayles

By next year, it's possible that about half of U.S. jurisdictions will have amended character and fitness questions to avoid dredging up aspiring lawyers' sexual trauma. But while advocates hail the reforms as progress, concerns linger about the patchwork this could create across the country.

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Ex-Willkie Atty Banned By SEC For Insider Trading

By Emily Sawicki

A former Willkie Farr & Gallagher LLP mergers and acquisitions attorney who earlier this month admitted to taking part in a widespread BigLaw insider trading scheme will be barred from representing a client before the U.S. Securities and Exchange Commission for a minimum of four years, according to an order the agency issued Monday.

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NY Judge Largely Halts Manhattan Immigration Courts Arrests

By Rae Ann Varona

A New York federal judge Monday largely barred U.S. Immigration and Customs Enforcement from conducting arrests at three Manhattan immigration courthouses, finding there was no good reason why "unfettered discretion" by ICE officers was better than a policy with arrest limitations.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week handled a broad mix of celebrity estate litigation, merger disputes, investor suits, record demands, sanctions fights and questions over corporate moves away from Delaware.

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