Senate Banking Committee Advances Landmark Crypto Bill

By Aislinn Keely

The latest version of a bill to regulate crypto markets advanced out of the Senate banking committee on Thursday in a vote that saw two Democrats break with their colleagues to support the measure, though they warned their continued support of the so-called Clarity Act is contingent upon adding ethics language and other updates before the bill reaches the Senate floor.

Read full article » | Save to favorites »

Guidelines For Tariff Offsets Treat Truck Parts Like Auto Parts

By Jack McLoone

Imported parts used in manufacturing various trucks are treated like automobile parts in guidelines that the U.S. International Trade Administration issued Thursday for U.S. manufacturers of medium- and heavy-duty vehicles looking to qualify for a program that allows a discount on duties paid for such parts.

Notice attached | Read full article » | Save to favorites »

Brief

Chinese Steel Exporter Hit With 150% Duty Following Review

By Jack McLoone

The U.S. Department of Commerce on Thursday more than doubled the preliminarily determined antidumping duty for a Chinese exporter of steel cylinders to over 150% after it failed to fully comply with a review.

2 documents attached | Read full article » | Save to favorites »

Brief

US Trade Rep. Seeks Feedback On ITC's Quartz Tariff Plan

By Jack McLoone

The Office of the U.S. Trade Representative on Thursday said it is seeking comments on tariff recommendations made in April by the U.S. International Trade Commission regarding imported quartz surfaces.

Notice attached | Read full article » | Save to favorites »

Adani Group Chair, Nephew Ink $18M Deal To Exit SEC Case

By Lauren Berg

Indian billionaire businessman Gautam Adani and his nephew, Sagar Adani, agreed Thursday to pay a combined $18 million to resolve the U.S. Securities and Exchange Commission's suit accusing them of committing securities fraud in connection with a $750 million bond offering.

4 documents attached | Read full article » | Save to favorites »

Brookfield To Acquire World Freight In $1.2B Deal

By Al Barbarino

Brookfield has agreed to acquire global air freight services provider World Freight Co. from PAI Partners and EQT's BPEA Private Equity Fund VI, the companies announced Thursday. 

Read full article » | Save to favorites »

'Pig Butchering' Crypto Scam Victim Seeks $962K From IRS

By Kat Lucero

An Ohio man told a district court that the Internal Revenue Service wrongly denied his tax deduction claim for a loss of over $800,000 from a cryptocurrency "pig butchering" scheme despite the extensive documentation of the fraud he said he provided to the agency.

Complaint attached | Read full article » | Save to favorites »

Blank Rome Adds Husch Blackwell's Dallas Leader

By Lynn LaRowe

Blank Rome LLP has added a former Husch Blackwell LLP lawyer to its finance, restructuring and bankruptcy practice in Dallas as the firm continues to strengthen its investment in the north Texas market.

Read full article » | Save to favorites »

New Cuba Sanctions Raise Risks For Foreign Banks, Cos.

President Donald Trump's bold move leveling secondary sanctions against Cuba expands enforcement risk for foreign banks and companies with no U.S. nexus, signaling that non-U.S. businesses should reassess related transactions, counterparties and exposure as regulators test this broader authority, say attorneys at Troutman.

Order attached | Read full article » | Save to favorites »

Series

Playing Basketball Makes Me A Better Lawyer

My grandfather used to say "I wear your jersey" as shorthand for wholly committing to support someone with loyalty and integrity — ideals that have shaped my life on the basketball court and in legal practice, says Tracy Schimelfenig at Schimelfenig Legal.

Read full article » | Save to favorites »

ABA Section Votes To Scrap Law School DEI Standards

By Emma Cueto

The American Bar Association's legal education section on Friday voted to eliminate its requirements that law schools show a commitment to diversity in their student body in order to remain accredited, a policy that has been under fire since a 2023 U.S. Supreme Court ruling striking down affirmative action in higher education.

Read full article » | Save to favorites »

Fed. Circ. Drops A Theme Song, Talks Guest Judges

By Dani Kass

The Federal Circuit's full lineup came together Friday to provide practitioners with insight about their experience sitting on other courts, in a conference where the chief judge dropped the court's first (and only) single.

5 documents attached | Read full article » | Save to favorites »

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.

Complaint attached | Read full article » | Save to favorites »

Fed. Circ. Urges Justices To Reject Newman Suspension Case

By Ryan Davis

The Federal Circuit has urged the U.S. Supreme Court not to hear Judge Pauline Newman's appeal targeting a suspension imposed on her by the court's other judges, arguing that a lower court correctly held that her challenges to the order are not subject to judicial review.

Brief attached | Read full article » | Save to favorites »

Law360's Legal Lions Of The Week

By Kevin Penton

Pillsbury Winthrop Shaw Pittman LLP and Haynes Boone lead this week's edition of Law360 Legal Lions, after the U.S. Supreme Court ruled that federal courts that have sent disputes to arbitration have jurisdiction to confirm or vacate subsequent awards.

Read full article » | Save to favorites »

Brief

Colorado Passes Bill Banning Fee Sharing With Nonlawyers

By Emily Sawicki

The Colorado Legislature has approved a bill to bar attorneys and law firms operating in the state from sharing fees and revenue with non-attorney-owned firms, known as alternative business structure firms, making Colorado the latest state to tamp down the practice.

Read full article » | Save to favorites »

Girardi Trial Judge Josephine Staton To Take Senior Status

By Ryan Boysen

The California federal judge who sentenced disgraced trial attorney Tom Girardi to prison for wire fraud last year has announced that she'll be taking senior status in the fall, allowing President Donald Trump to appoint her successor.

Read full article » | Save to favorites »

Roundup

Balancing The Scales: Justices To Revisit Sentencing Rules

By Orlando Lorenzo

The U.S. Supreme Court will take a closer look at a circuit split over the deference that should be allotted to U.S. Sentencing Commission commentary, and a man convicted in the killing of an infant has been released after 27 years served over evidence that points to pneumonia as the likely cause of death.

Read full article » | Save to favorites »

Atty Tied To Trump Pardon Headed For August Extortion Trial

By Stewart Bishop

A New York federal judge on Friday set an August trial date for a South Carolina attorney and lobbyist on extortion charges tied to his work as a purported go-between for people with serious legal troubles seeking clemency from President Donald Trump.

Read full article » | Save to favorites »

Roundup

UK Litigation Roundup: Here's What You Missed In London

By Megan Norcott

The past week in London has seen singer Rita Ora be sued by her management company, the billionaire Gertner brothers file a part 8 claim and Stephenson Harwood lodge a debt claim against a member of the Bulgari jewelry dynasty. Here, Law360 looks at these and other new claims in the U.K.

Read full article » | Save to favorites »

Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

PayPal settled with the DOJ to end a probe into what the government agency said was a discriminatory investment program for Black- and minority-owned businesses. Meanwhile, Meta's global head of legal operations during a panel discussion predicted that the billable hour will be the exception — not the rule — in five years. These are among the stories in corporate legal news you may have missed in the past week.

Read full article » | Save to favorites »

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.

Read full article » | Save to favorites »