Kalshi said Thursday that it's working with the U.S. Commodity Futures Trading Commission to address suspicious trades on the president's speeches that appear to have netted a federally employed teleprompter operator approximately $90,000.
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TOP NEWS

Kalshi Says Gov't Employee Traded On Trump Speeches

By Aislinn Keely

Kalshi said Thursday that it's working with the U.S. Commodity Futures Trading Commission to address suspicious trades on the president's speeches that appear to have netted a federally employed teleprompter operator approximately $90,000.

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Regulators Set New Protocols For 'Sensitive' Bank Exam Data

By Jon Hill

Federal regulators said Thursday that they are stepping up their protocols for handling bank data and documents during supervisory examinations, outlining a new policy that will allow banks to designate certain "highly sensitive" information for stricter access control measures.

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Feature

As Law Firms Race To Adopt AI, Cost Concerns Grow

By Phillip Bantz

Pressure is mounting on law firm leaders to dive into the AI waters or watch competitors swim away, but figuring out responsible, cost-effective methods to use high-priced legal tech remains tricky, experts say.

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POLICY & REGULATION

Senate Unanimously Opposes SBF's Quest For Clemency

By Aislinn Keely

The U.S. Senate has passed a resolution condemning Sam Bankman-Fried's bid for a presidential pardon, making clear that lawmakers on both sides of the aisle oppose clemency for the imprisoned FTX founder.

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SEC Proposes Making E-Delivery Default For Investor Docs

By Sarah Jarvis

The U.S. Securities and Exchange Commission on Thursday proposed a new rule that would allow electronic delivery to be the default method for sending investors disclosures, shareholder reports, proxy statements and other information, replacing a standard by which many documents are delivered in paper format unless the recipient chooses otherwise.

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GOP Sen. Tillis Presses Vought On DOGE's 'Amateur' Record

By Jon Hill

Retiring Sen. Thom Tillis, R-N.C., on Thursday ripped into White House budget chief Russell Vought over the Trump administration's now-disbanded Department of Government Efficiency, pressing him repeatedly to substantiate its claims of massive taxpayer savings.

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​​​​​​​DraftKings Says Philly's Ordinance Conflicts With Pa. Law

By Lauren Berg

DraftKings asked a Pennsylvania federal court Thursday to stop the city of Philadelphia from enforcing its consumer protection ordinance, after the sportsbook platform received a subpoena related to an investigation into potential violations of the local statute, saying the ordinance "copies" the commonwealth's consumer protection law.

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ENFORCEMENT & COMPLIANCE

Swedbank To Pay $50M Fine In Panama Papers-Linked Case

By Katryna Perera

Swedbank AB and its New York branch have agreed to pay a $50 million civil penalty to the New York State Department of Financial Services to resolve claims that the bank failed to fully cooperate with department requests for information related to Swedbank's relationships with Mossack Fonseca, the law firm at the center of the 2016 Panama Papers leak.

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BitConnect Promoter Owes SEC $1M, Judge Says

By Sydney Price

A New York federal judge ordered a promoter of digital asset BitConnect to pay more than $1 million to end the U.S. Securities and Exchange Commission's claims that he earned hundreds of thousands of dollars by recruiting investors into an unregistered cryptocurrency lending program, rejecting his arguments that the payment should be reduced.

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LITIGATION

$200B Swipe Fee Deal Merits $206M For Attys, Merchants Say

By Craig Clough

Merchants who secured a $200 billion settlement over Visa and Mastercard swipe fees asked a New York federal court Wednesday to approve $206 million in attorney fees and costs, saying: "The result achieved here did not come easily and was far from certain."

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BANKRUPTCY

PEOPLE

Brief

Cooley Reinforces Privacy Practice With Ex-Hunton Partner

By Matt Perez

Cooley LLP has further bolstered its cyber, data and privacy group, announcing the hiring of a former Hunton Andrews Kurth LLP partner in its New York office.

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EXPERT ANALYSIS

AI-Fueled Pro Se Suits Pose Rising Risk For Lenders

Harris v. Pinnacle Bank, a recently decided Mississippi federal court case, illustrates how pro se borrowers are using artificial intelligence to file more sophisticated documents that can complicate and prolong loan enforcement proceedings, making early procedural challenges and tighter litigation strategies increasingly important for lenders, says Joseph Briggett at Baker Donelson.

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Assessing New Risks After The End Of The SEC's Gag Rule

The U.S. Securities and Exchange Commission's recent rescission of its long-standing no‑deny gag rule marks a transition from a regime of enforced silence to one of strategic communication, meaning the question is no longer simply whether to settle, but how to manage the narrative that follows, say attorneys at Nelson Mullins.

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Series

Being A Magician Makes Me A Better Lawyer

The skills I've developed as a lifelong magician have translated directly into tangible benefits in the courtroom because performing magic and trying cases both live at the intersection of psychology, storytelling, timing and disciplined rehearsal, says Mark Dombroff at Fox Rothschild.

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LEGAL INDUSTRY

How Does Your Compensation Stack Up? Take Our Survey

Is your compensation keeping pace with the rate of inflation? Do you know what your colleagues made last year? Help Law360 Pulse answer these questions and more in this year's Law Firm Compensation Survey.

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Richards Layton Apologizes For AI Errors In Chancery Case

By Rose Krebs

Richards Layton & Finger PA and one of its attorneys have apologized to the Delaware Chancery Court for submitting a filing with errors generated by artificial intelligence, asking that sanctions not be imposed.

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McDermott Atty Denies Pressuring Friend To Alter Testimony

By Rose Krebs

A McDermott Will & Schulte LLP attorney has told a Delaware vice chancellor that he is in "complete shock" and "hurt" by a longtime friend's contention that he pressured him to change his testimony in a Chancery Court case, saying the accusation "is false and without any merit."

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Simpson Thacher 'Never' Explained Ill-Fated Deal, Exec Says

By Cara Salvatore

A founder seeking over $100 million from Simpson Thacher & Bartlett over a transaction he says destroyed his insurance services company testified Thursday the law firm provided him no education on various words he wasn't familiar with in the deal.

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Blue-Slip-Backed Trump Judge Selections Advance

By Courtney Bublé

The first two judicial nominations of the second Trump administration to receive supportive blue slips from Democratic senators advanced to the Senate floor Thursday.

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Goulston Docked Ex-Partners' Pay For Joining Rival, Suit Says

By Julie Manganis

Two Goulston & Storrs PC directors who jumped to Troutman Pepper Locke LLP were stiffed out of hundreds of thousands of dollars in compensation in retaliation for leaving, according to a suit filed Thursday in New York federal court.

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Feature

In Uber Assault Trial, A Courtroom Tests Truth Face-To-Face

By Hayley Fowler

This is the first in a two-part series about the Virginia Revival Model courtroom in the Charles R. Jonas federal courthouse in Charlotte, North Carolina. Here, judges and attorneys recall how a sexual assault trial against Uber unfolded in a space designed to place focus on the witnesses.

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Tillis Might Back Blanche, As AG Pick Met Epstein Survivors

By Courtney Bublé

Acting U.S. Attorney General Todd Blanche on Thursday afternoon met with a group of survivors of sex offender Jeffrey Epstein after retiring Sen. Thom Tillis, R-N.C., said his condition for supporting Blanche's appointment to the permanent position was for the nominee to speak to them face-to-face.

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COMPANIES IN TODAY'S NEWS

American Bankers Association

American Express Co.

Binance Holdings Ltd.

DraftKings Inc.

Duke University

Google LLC

Hard Yaka Inc.

KPMG International

MasterCard Inc.

Microsoft Corp.

Navy Federal Credit Union

Palantir Technologies Inc.

Patriot National Inc.

Pinnacle Bank

PricewaterhouseCoopers LLP

SIFMA

Tidewater, Inc.

Uber Technologies Inc.

LAW FIRMS IN TODAY'S NEWS

Abrams & Bayliss

Anapol Weiss

Arnold & Porter

Ashurst Perkins

Baker Donelson

Burns Charest

Coblentz Patch

Cohen & Gresser

Conrad & Scherer

Cooley LLP

Davis Polk

Faegre Drinker

Fox Rothschild

Freed Kanner

Freshfields

Goulston & Storrs

Grant & Eisenhofer

Hilliard Shadowen

Holwell Shuster

Hunton Andrews

Kirkland & Ellis

Landis Rath

McDermott Will & Schulte

Morris Nichols

Nelson Mullins

Nussbaum Law Group

Olshan Frome

Paul Hastings

Paul Weiss

Potter Anderson

Pryor Cashman

Quinn Emanuel

Reed Smith

Richards Layton

Simpson Thacher & Bartlett

Stearns Weaver

Stradley Ronon

Troutman

Watstein Terepka

Williams & Connolly

GOVERNMENT AGENCIES IN TODAY'S NEWS

Commodity Futures Trading Commission

Consumer Financial Protection Bureau

Delaware Court of Chancery

Executive Office of the President

Federal Bureau of Investigation

Federal Deposit Insurance Corp.

Federal Reserve System

Finantsinspektsioon

New York Department of Financial Services

North Carolina Secretary of State

Office of the Comptroller of the Currency

Pennsylvania Gaming Control Board

Swedish Financial Supervisory Authority

Texas State Securities Board

U.S. Army

U.S. Department of Justice

U.S. District & Bankruptcy Courts of Southern District of Texas

U.S. District Court for the Eastern District of Michigan

U.S. District Court for the Eastern District of New York

U.S. District Court for the Eastern District of Pennsylvania

U.S. District Court for the Northern District of California

U.S. District Court for the Northern District of Mississippi

U.S. District Court for the Northern District of Texas

U.S. District Court for the Southern District of New York

U.S. Securities and Exchange Commission

U.S. Senate

US Office of Management and Budget

United States District Court for the District of North Dakota