Trump's CFTC Nominee Publicly Feuds With Winklevoss Twins

By Jessica Corso

Brian Quintenz is accusing crypto exchange founders Tyler and Cameron Winklevoss of pressuring President Donald Trump to delay his nomination to lead the U.S. Commodity Futures Trading Commission, saying in a social media post that the identical 44-year-old twins were apparently unhappy that he refused to make promises about a complaint they've lodged against agency attorneys.

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Ex-Two Sigma Quant Rigged Models For $23M Profit, Feds Say

By Lauren Berg

A former Two Sigma Investments quantitative analyst was hit Thursday with criminal charges and a civil enforcement action for allegedly manipulating the hedge fund's algorithmic models used to forecast securities performance in order to snag a $23 million payday while causing $165 million in harm to clients.

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SEC Drops Suit Against Nikola Founder After Trump's Pardon

By Gina Kim

The U.S. Securities and Exchange Commission on Thursday ended its civil enforcement action in New York federal court against Nikola founder Trevor Milton months after he was pardoned by President Donald Trump for his securities fraud conviction on charges of lying to boost the company's stock on Wall Street.

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SEC Fights Musk's Bid To Send Twitter Case To Texas

By Jessica Corso

The U.S. Securities and Exchange Commission is challenging Elon Musk's attempt to have a lawsuit over his purchase of Twitter shares moved to Texas, arguing Thursday that there was "no question" that the case belonged in Washington, D.C.

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Dental Supply Co.'s $84M Price-Fixing Deal Gets Final OK

By Emilie Ruscoe

Dental supply company Dentsply Sirona Inc. and its investors have gotten final approval for an $84 million deal resolving consolidated shareholder class action claims that the company hurt investors by concealing a price-fixing scheme and a distributor's inventory buildup.

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Moelis Says Pact Spurring Del. Corp. Law Rework Is Lawful

By Jeff Montgomery

Attorneys for Moelis & Co. have told Delaware's justices that a stockholder agreement that solidified Ken Moelis' control of the investment bank was either valid or lawfully obtainable by other means before the Court of Chancery struck it down last year, with time to challenge key provisions long since expired.

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Trump Wants Fed Gov. Cook Out Before Next Rate Meeting

By Lauren Berg

The Trump administration asked the D.C. Circuit Thursday to halt a preliminary injunction barring the removal of Federal Reserve Gov. Lisa Cook, urging the appellate court to fast-track its decision in an effort to block Cook from participating in a meeting regarding interest rates next week.

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CFTC Withdraws Biden-Era Voluntary Carbon Credit Guidance

By Juan-Carlos Rodriguez

The U.S. Commodity Futures Trading Commission has withdrawn Biden-era guidelines that were intended to foster transparency and deter manipulation in the emerging market for voluntary carbon credits.

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Capital One Sues FDIC Over $149M SVB Bailout Charge

By Katryna Perera

Capital One has sued the Federal Deposit Insurance Corp. in Virginia federal court challenging a $149 million charge in a special assessment levied by the agency as part of an effort to recoup losses from the 2023 regional banking crisis, saying the FDIC improperly included certain data in its calculation of the special assessment.

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Sudanese 'Can't Prove' BNP Bankrolled Dictator, Jury Told

By Pete Brush

French banking giant BNP Paribas told a Manhattan federal jury on Thursday that three plaintiffs who fled Sudan amid horrific human rights abuses, later to become U.S. citizens, "can't prove" it contributed to former Islamist dictator Omar al-Bashir's killing and destruction.

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SEC Sues Podcast Host, Others Over $82M In Securities Sales

By Emilie Ruscoe

A trio of allegedly unregistered securities brokers, including a podcaster, are facing a suit from the U.S. Securities and Exchange Commission, alleging they sold unregistered oil and gas securities at the behest of sponsors of the associated unregistered offerings, raising a combined $82 million in exchange for transaction-based compensation.

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NY Judge Lets Baosheng IPO Suit Proceed But Drops Auditors

By Katryna Perera

A New York federal judge has ruled that investors can move forward with claims that Baosheng Media misled them by failing to disclose an investigation by Chinese authorities ahead of its initial public offering, but found they'd failed to state a claim against the auditor defendants in the suit.

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Luminar Must Face Investor Suit Over Image Rip-Off Claims

By Sydney Price

Autonomous vehicle technology company Luminar Semiconductor Inc. cannot escape the latest version of a proposed investor class action alleging that it passed off an image of a competitor's technology as its own after a Florida federal judge found that the amended suit now sufficiently pleads that the company made material misrepresentations.

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Ex-Nikola CEO Seeks To Undo Investor Class In Fraud Case

By Sydney Price

Former Nikola CEO Trevor Milton on Thursday asked an Arizona federal judge to decertify at least part of a class of investors accusing him and the company of exaggerating the viability of Nikola's technology and its business prospects, arguing the lead investors didn't identify and contact class members during discovery.

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Weedmaps Shouldn't Get To Exit Fraud Suit, Investor Says

By Jonathan Capriel

Weedmaps Technology Inc., a cannabis tech company that was fined by federal regulators for allegedly misleading investors, shouldn't be allowed to escape an investor-led proposed class action, the lead plaintiff has told a California federal court, saying the company's arguments defy common sense and understandings of the word "engage."

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Capital One Unit Can't Nix OT Misclassification Case

By Irene Spezzamonte

A Virginia federal judge ruled that a former Capital One employee can concurrently pursue claims under federal and state overtime laws, adding that the bank made some premature arguments when it tried to toss a suit accusing it of misclassifying learning associates as overtime-exempt.

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FDA Transparency Plans Raise Investor Disclosure Red Flags

The U.S. Food and Drug Administration’s recently announced intent to publish complete response letters for unapproved drugs and devices implicates certain investor disclosure requirements under securities laws, making it necessary for life sciences and biotech companies to adopt robust controls going forward, say attorneys at Arnold & Porter.

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Series

Being A Professional Wrestler Makes Me A Better Lawyer

Pursuing my childhood dream of being a professional wrestler has taught me important legal career lessons about communication, adaptability, oral advocacy and professionalism, says Christopher Freiberg at Midwest Disability.

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Analysis

When The Supreme Court Says Using Race Is OK

By Marco Poggio

The U.S. Supreme Court is allowing government agencies to expressly use race in furthering their immigration enforcement goals, while prohibiting the use of race as even one of the factors to consider in college admissions. Some legal scholars see a double standard.

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Quinn Emanuel's $30M Fee Bid Flouts Ch. 11, Co. Says

By Julie Manganis

Israeli printed circuit maker Nano Dimension has told a Massachusetts federal judge that Quinn Emanuel Urquhart & Sullivan LLP can't claim a $30 million attorney's lien to make an "end run" around the bankruptcy of 3D printing company Desktop Metal, a former client that Nano acquired.

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Hagens Berman Doubles Down On AI-Tainted Brief Correction

By Adrian Cruz

Hagens Berman Sobol Shapiro LLP said that the firm has an ethical duty to correct briefs tainted by artificial intelligence errors and that the corrected versions shouldn't be stricken from a proposed class action against online platform OnlyFans' parent company.

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Calif. Bill Blocking Fee Sharing With ABS Firms Heads To Gov.

By Emily Sawicki

A bill heading to California Gov. Gavin Newsom's desk is poised to tighten rules to restrict alternative business structure law firms from operating in the Golden State by blocking lawyers from sharing fees with out-of-state firms owned by non-lawyers.

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Analysis

Appeals Courts Rethink Harsh Youth Sentences, Search Rules

By Brandon Lowrey

State appellate courts across the country have issued major criminal law opinions this year, softening some of the harshest sentences for young defendants while shifting rules for searches and evidence collection.

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NYC Eviction Counsel Program Struggles To Meet Its Goals

By Andrea Keckley

More than half the households eligible for New York City's Right to Counsel program are not receiving legal representation in eviction cases, with representation rates peaking at just over half the qualified tenants in 2022 before falling to roughly one-third of citywide tenants in 2024, according to a report.

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Analysis

New Guidance Hacks Away At Immigration Judges' Powers

By Britain Eakin

A steady stream of Board of Immigration Appeals decisions and Executive Office for Immigration Review memos, capped by recent guidance on handling constitutional claims, shows a Trump administration reining in immigration judges overseeing removal cases.

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Analysis

Mich. AG's Loss Spells Trouble For Other Fake Elector Cases

By Carolyn Muyskens

The dismissal of charges against Michigan Republicans who participated in the so-called fake elector plot after the 2020 presidential election shows that establishing intent could be a hurdle for prosecutors as they pursue similar cases in other states, legal experts said.

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'Tyrant' Indiana Judge Ousted Over Misconduct

By Lynn LaRowe

An Indiana superior court judge who "wielded his position of power like a tyrant" during his three years on the bench has been permanently barred from judicial service by the state's Supreme Court.

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Analysis

Fresh Angles On Display In ERISA Summer Filing Uptick

By Kellie Mejdrich

Attorneys dealing with a rise in Employee Retirement Income Security Act cases are paying close attention to a handful of recent suits with allegations that put a twist on traditional benefits disputes. Here, Law360 looks at three cases with fresh angles that lawyers are keeping an eye on.

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Roundup

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

By Laura Stewart Liberty

This past week in London has seen former Master Chef presenter Gregg Wallace sue the BBC, Elon Musk's xAI take legal action against a staff engineer, and fashion mogul Kevin-Gerald Stanford file a fresh claim against Lion Capital-owned Klotho and EY amid a long-running All Saints share acquisition dispute.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

The federal government has accused Uber Technologies Inc. of discriminating against riders with disabilities, including individuals traveling with service animals or using stowable wheelchairs. Meanwhile, a new Law360 analysis shows that male lawyers still hold nearly three times as many equity partner roles as women do.

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Law360's Legal Lions Of The Week

By Kevin Penton

Kaplan Martin LLP leads this week's edition of Law360 Legal Lions, after the Second Circuit upheld an $83.3 million award against President Donald Trump for defaming writer E. Jean Carroll in 2019 in the wake of her sexual assault allegations, rejecting his claims of presidential immunity.

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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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