SpaceX on Wednesday outlined a price target for its blockbuster initial public offering, telling U.S. regulators that it expects to raise $75 billion in what would mark the largest IPO in history.
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THURSDAY, JUNE 4, 2026 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

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SpaceX Launches Plans For Massive $75B IPO

By Jade Martinez-Pogue

SpaceX on Wednesday outlined a price target for its blockbuster initial public offering, telling U.S. regulators that it expects to raise $75 billion in what would mark the largest IPO in history.

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9th Circ. Suspends 2 Attys For 6 Months Over AI Hallucinations

By Rae Ann Varona

The Ninth Circuit on Wednesday temporarily suspended two California immigration attorneys from practicing before the appellate court for filing briefs in a deportation relief case containing artificial intelligence-generated hallucinations, finding no excuse for their "extraordinary confession" of not vetting citations used by unlicensed brief writers.

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Tech Industry Groups Back Apple High Court Bid In Epic Case

By Matthew Perlman

Several technology industry groups threw their support behind Apple Inc. on Wednesday, telling the U.S. Supreme Court an injunction issued in a case brought by Epic Games Inc. tries to alter the service Apple provides to millions of developers based on complaints from a single company.

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Seagate Inks $175M Deal With Investors Over Illegal Sales

By Sydney Price

Data storage company Seagate Technologies has agreed to pay shareholders $175 million to end a class action alleging the firm misrepresented that it could sell products to a blacklisted Chinese company, leading to a $300 million fine from the federal government for breaching export laws.

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Musk's SpaceX, Tesla Emails Fair Game For Apple, OpenAI

By Bryan Koenig

A Texas federal judge said X Corp. must produce Elon Musk's SpaceX and Tesla emails as part of its lawsuit accusing Apple Inc. and OpenAI of anticompetitively edging out rival artificial intelligence chatbots through a deal integrating ChatGPT into iPhones.

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Google Can't Ditch Most Chrome Privacy Claims

By Lauren Berg

A California federal judge Tuesday largely denied Google's bid to dismiss several claims in long-running litigation that accuses the tech giant of surreptitiously collecting Chrome users' personal data, after the plaintiffs elected to move forward with individual claims following their failed class certification bid.

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BigLaw Insider Trading Defendants Have Big-Name Legal Help

By Chris Villani

An insider trading case involving nonpublic information prosecutors say was stolen from some of the largest law firms in the U.S. has ensnared more than two dozen defendants, many of whom have turned to lawyers with notable clients including Donald Trump, Harvey Weinstein and Luigi Mangione.

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SDNY's Clayton Warns Of Foreign Social Media Sway

By Sarah Jarvis

Jay Clayton, the U.S. attorney for the Southern District of New York, warned an audience at an anti-money laundering conference Wednesday of the risk of foreign governments spending money on social media campaigns in the U.S. to "foment distrust," adding that regulators need to improve their handle on the global flow of illicit profits outside the core financial system.

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Feature

'Read The Cases': Conn. Judge Offers AI Advice To Attys

By Brian Steele

A Connecticut federal judge told a gathering of attorneys Tuesday that his law clerks are not allowed to use generative artificial intelligence for any purpose involving legal research, his interns are barred from using it at all, and lawyers must be careful when relying on the material that the tools produce.

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Squires Institutes 3 Patent Reviews, Denies 3 Others

By Ryan Davis

U.S. Patent and Trademark Office Director John Squires on Tuesday granted three requests for review of patents under the America Invents Act, while turning down three other petitions.

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POLICY & REGULATION

House Panel Spars Over Who Benefits From Draft Privacy Bill

By Allison Grande

The backers of a Republican-led proposal to establish a long-elusive federal data privacy standard lauded the effort during a U.S. House of Representatives hearing Wednesday for being a commonsense extension of the nearly two dozen state laws already in place, while its opponents argued that the measure would establish a weak framework that favored companies over consumers.

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NextNav GPS Backup Called 'Destructive' To Public Safety

By Nadia Dreid

A U.S. House subcommittee is set to hear proposals Thursday to deploy new Earth-based systems to back up GPS, but one public advocacy group is sounding the alarm ahead of time about the dangers of a spectrum-based alternative proffered by NextNav.

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FCC To Consider New Children's Safety Policies For E-Rate

By Christopher Cole

The Federal Communications Commission is set to consider policy changes to a school and library subsidy to reduce screen time and protect children from harmful online content.

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FCC Eyes Broadband Permit Reform, Cybersecurity Efforts

By Christopher Cole

The Federal Communications Commission is putting permit reform front and center again this month, with a proposal to shed rules that it views as unnecessarily burdensome for broadband deployment.

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Broadband Group Wants Same FCC Router Waiver As AT&T

By Nadia Dreid

The Federal Communications Commission should grant NCTA — The Internet & Television Association members a waiver allowing them to make changes to foreign-made routers since getting replacements has become difficult due to supply chain shortages and the agency has banned routers made outside the country.

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Iowa Creates Sales Tax Break For Nuclear Energy Facilities

By Jaqueline McCool

Iowa nuclear energy facilities that are beginning or restarting operation are eligible for a sales tax exemption on purchases of materials under a law signed by the governor.

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Okla. Gov. Vetoes Solar Power Property Tax Break Exclusion

By Zak Kostro

Oklahoma's governor pocket vetoed a bill that would have excluded solar power companies and battery energy storage systems from a property tax exemption for manufacturing facilities.

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UK Requiring Google To Let Publishers Opt Out Of AI

By Matthew Perlman

Google is giving publishers tools to prevent their content from being used to power the artificial intelligence features shown in search results, after Britain's competition enforcer imposed new requirements Wednesday.

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LITIGATION

Samsung Can't Appeal Conflicting Alice Ruling In $78.5M Case

By Elliot Weld

A Texas federal judge has refused to let Samsung appeal a decision upholding two patents that resulted in a $78.5 million jury verdict against the South Korean tech giant after a different court found one of the patents invalid.

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Netflix Again Beats NJ Atty's IP Suit Over Boy Scouts Films

By Jake Maher

Netflix Inc. fought off an amended complaint in New Jersey federal court Tuesday from an attorney claiming that it infringed on his copyright for a documentary about sexual abuse in the Boy Scouts of America, when the judge ruled the suit relied on uncopyrightable facts.

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CBP Says Stiiizy's New Vape Cartridges Clear Pax Patents

By Jonathan Capriel

U.S. Customs and Border Protection has cleared vape company Stiiizy to import its redesigned oil cartridges, ruling they do not violate patents held by rival Pax Labs Inc., despite the competitor having successfully persuaded the U.S. International Trade Commission to block an earlier version of Stiiizy's products.

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Top Wireless Cos. Get PTAB To Wipe Out 5G Patent

By Adam Lidgett

The Patent Trial and Appeal Board has invalidated a 5G technology patent that mobile providers like AT&T, T-Mobile and Verizon had been accused of infringing in now-dropped litigation, after finding the claims of the patent were obvious.

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Fla. Panel Finds Health Co. Owner Tricked Customers

By David Minsky

A Florida appellate court on Wednesday reversed an order clearing a health company owner of liability in a deceptive business practices case, saying the lower court wrongly found prosecutors hadn't met their burden of proof despite evidence at trial showing misconduct involving fraud. 

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Bojangles Workers Didn't Plead Data Hack Harm, Court Told

By Abigail Harrison

Counsel for national fried chicken fast food chain Bojangles told a North Carolina Business Court Wednesday that a putative data breach class action against it can't survive, as a group of employees didn't allege how the cyber-theft caused them harm.

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HP Customers Say Latest Third-Party Ink Suit Should Proceed

By Lauraann Wood

HP customers argued Wednesday that an Illinois federal judge should let them pursue amended antitrust accusations that the printer-maker illegally blocked consumers from using third-party ink, noting their expanded allegations about the printer boxes' "bait-and-switch" cartridge disclaimer should be enough to advance.

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Vista Equity Hit With Stockholder Suit Over $1.7B IAS Sale

By Rae Ann Varona

A former Integral Ad Science stockholder has launched a proposed class action in Delaware Chancery Court, asserting that a controlling stockholder sought the media measurement platform's $1.7 billion sale to affiliates of Novacap Management Inc. to eliminate exposure to his derivative claims alleging insider trading.

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Electronics Co. Sues Rival Over Plasma Patents Used In Chips

By Elliot Weld

A company that offers plasma systems for manufacturing semiconductors has sued a rival in New Hampshire federal court, saying the competitor was infringing four patents covering atmospheric-pressure plasma systems.

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IVF Patients Say Natera Profited Off Ineffective Embryo Tests

By Mike Curley

A proposed class of in vitro fertilization patients are suing Natera Inc. in California federal court, alleging that it falsely advertised the efficacy and importance of its preimplantation genetic testing to rake in hundreds of millions of dollars from patients looking to conceive.

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Meta Partly Beats EU Gatekeeper Designations

By Ronan Barnard

An EU court annulled Meta's statutory designation as a "gatekeeper" for its Facebook Marketplace commerce platform on Wednesday, but upheld the designation for the Facebook owner's Messenger communication platform.

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DEALS

4 Firms Steer Sixth Street's $1B Investment In Kpler

By Jade Martinez-Pogue

Trade intelligence and data analytics firm Kpler on Wednesday announced it has secured a more than $1 billion growth equity investment from private equity shop Sixth Street in a deal built by four law firms.

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Kirkland-Led Defense Firm Applied Aerospace Inks $650M IPO

By Elaine Briseño

Applied Aerospace & Defense Inc., with a market value of $3.4 billion, began trading publicly on the New York Stock Exchange on Wednesday after raising $650 million with an initial public offering guided by Kirkland & Ellis LLP and Davis Polk & Wardwell LLP.

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Brief

Germany's Rheinmetall Selling Auto Biz To Aequita For $406M

By Al Barbarino

German defense contractor Rheinmetall said Wednesday it has agreed to sell its civilian Power Systems business to Munich-based industrial holding company Aequita for €350 million, or roughly $406 million.

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BANKRUPTCY

Drug Research Co. Inotiv Files Ch. 11 To Cut $325M In Debt

By Vince Sullivan

Contract drug research and development company Inotiv Inc. filed a prepackaged Chapter 11 case Wednesday in Texas bankruptcy court with $489 million of debt and support from the majority of its creditors for its reorganization plan.

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ENFORCEMENT

Balwani Takes Theranos Conviction Challenge To Justices

By Lauren Berg

Former Theranos executive Ramesh "Sunny" Balwani is asking the U.S. Supreme Court to review his criminal fraud conviction and nearly 13-year prison sentence, arguing that the Ninth Circuit used the wrong review doctrine in rejecting his argument that prosecutors had failed to correct allegedly false testimony given by investor victims.

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Feds Nab Calif. CEO For Allegedly Smuggling Tech To Iran

By Gina Kim

The CEO of an Iran-headquartered tech company is accused of shipping over 250 metric tons of networking equipment from Cisco, Juniper Networks, and others, to Iran's nuclear and military programs, including state-owned and private banks, and petrochemical and energy companies, in violation of U.S. sanctions, federal prosecutors announced Wednesday.

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EXPERT ANALYSIS

Revisiting TransUnion's Underused Standing Rule, 5 Years On

The Ninth Circuit Court of Appeals' recent use of the U.S. Supreme Court’s now five-year-old TransUnion v. Ramirez rule specifying that the "mere risk of future harm" isn't concrete enough to support a damages claim presents an opportunity to revisit this underutilized standing rule, say attorneys at Horvitz & Levy.

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5 Things Associates Must Ask About Their Firm's Merger Plan

The associates who navigate law firm mergers best ask the right questions early, such as inquiring about partners' plans, to assess how the merger could affect their workflow and career path, says Jackie Bokser-LeFebvre at Major Lindsey.

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Brain Computer Interfaces Boot Up Multipronged Legal Issues

As neurotechnology companies begin to conduct human clinical trials for brain computer interfaces, attorneys should prepare for legal ramifications across a broad range of practice areas, including intellectual property, privacy and product liability, say attorneys at ArentFox Schiff.

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Why IPR Slowdown Has Not Led To More Patent Litigation

Despite sustained strength in patent application filings and a decline in inter partes review and post-grant review, 2026 has not seen the anticipated surge in patent litigation in district courts and at the U.S. International Trade Commission, potentially due to four reasons, say attorneys at Sterne Kessler.

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LEGAL INDUSTRY

Hueston Hennigan Follows Milbank's Lead In Associate Pay

By Tracey Read

The race to match Milbank LLP's attorney pay hikes is officially on, with trial firm Hueston Hennigan the latest to announce it will increase associate pay by $10,000 to $20,000 annually.

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Analysis

The Plaintiffs Atty Now 5-0 At High Court With No Dissents

By Jeff Overley

It's true that Jennifer Bennett is undefeated at the U.S. Supreme Court, but it's also an understatement. Bennett's five wins, including two recent ones, were all unanimous decisions. They showed that the plaintiffs bar can still persuade a conservative supermajority. And they turned the tide after a spree of decisions keeping workers and consumers out of court.

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Goldstein Cites Addiction To Avoid Time, DOJ Seeks 8 Years

By Jared Foretek

Federal prosecutors recommended a 97-month prison sentence for convicted SCOTUSblog founder Thomas Goldstein, telling a Maryland federal court he has bilked the government out of more than $9.5 million in unpaid taxes. Goldstein, meanwhile, asked for a suspended sentence and supervised release, citing a "severe and longstanding gambling addiction."

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Rocade Capital Buys LFG To Create Combined $2B Lit Funder

By Ryan Boysen

Rocade Capital LLC has acquired fellow litigation funder Law Finance Group LLC, creating a combined platform that has deployed more than $2.3 billion and specializes in $10 million to $50 million deals, including post-judgment financing, portfolio deals and lending to plaintiff's firms.

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Court Reporter Shortage A 'Crisis,' Calif. Supreme Court Told

By Bonnie Eslinger

Two legal nonprofits urged the California Supreme Court to issue an order entitling low-income civil litigants to electronic recording if a live court reporter is not available, saying at a hearing Wednesday that a court reporter shortage in the Golden State has created a "crisis."

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Tenn. Firm Gets AI Sanctions In Suit Against Baker Donelson

By Emily Sawicki

A Tennessee federal judge has sanctioned a Memphis, Tennessee, law firm over its misuse of artificial intelligence amid a malpractice suit against Baker Donelson Bearman Caldwell & Berkowitz PC, ordering the regional firm to reimburse costs associated with the matter and report the misconduct to the state's disciplinary counsel.

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Atty Can't Shake $120M Verdict In RICO, Defamation Dispute

By Carolina Bolado

An Alabama federal judge refused to disturb a $120 million verdict against a former Conrad & Scherer LLP managing partner, ruling there was enough evidence at trial for a jury to find the attorney liable on Drummond Co.'s racketeering and defamation claims.

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Graham Pushes Federal Tort Path After DOJ Drops $1.8B Fund

By Courtney Bublé

The U.S. Department of Justice seemed, at least briefly, to support a Republican senator's alternative solution to the "anti-weaponization" $1.8 billion fund that acting Attorney General Todd Blanche said Tuesday the department is abandoning.

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DOJ Sets New Healthcare Fraud Convictions Record

By Phillip Bantz

The U.S. Department of Justice on Wednesday announced that its Health Care Fraud Unit secured six jury trial convictions across the country in less than three weeks, with the cases involving more than $1.1 billion in fraud losses.

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Titan Of The Plaintiffs Bar: Dardarian Ho's Linda Dardarian

By Lynn LaRowe

Despite being on the other side of a disability rights case that will cost his municipality at least $150 million, Kevin McLaughlin, city attorney for Oakland, California, believes that if more lawyers were like Linda Dardarian, there would be far less lamenting about civility in the legal profession.

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COMPANIES IN TODAY'S NEWS

APC

AT&T Inc.

AXA SA

Aetna Inc.

Amazon.com Inc.

American Airlines Group Inc.

American Federation of Labor & Congress of Industrial Organizations

Apple Inc.

Atlas Venture LP

Bank of America Corp.

Bay Area Legal Aid

Boy Scouts of America

Bumble Bee Foods LLC

CLS Bank International

Chamber of Progress

Cisco Systems Inc.

Citadel Securities LLC

Citigroup Inc.

Computer & Communications Industry Association

Connecticut Bar Association

Conservation Law Foundation Inc.

Docket Navigator

Dolby Laboratories Inc.

Drummond

Drummond Co. Inc.

Electronic Privacy Information Center

Envigo International Holdings Inc.

Epic Games Inc.

Equity Residential

Family Violence Appellate Project

Flowers Foods Inc.

Fractus SA

Google LLC

Greenbriar Equity Group LLC

HP Inc.

HawkEye 360

Humane Society of the United States

Imperative Care

Inotiv

InterDigital Inc.

JPMorgan Chase & Co.

JetBlue Airways Corp.

Juniper Networks Inc.

KT Corp.

Kaiser Permanente

Law Finance Group Management Co.

Lex Machina Inc.

Major Lindsey & Africa LLC

McDonald's Corp.

Meta Platforms Inc.

Milliman Inc.

Morgan Stanley

Nasdaq Inc.

Natera Inc.

National Fish & Wildlife Foundation

Netflix Inc.

Nokia Corp.

OpenAI OpCo LLC

PERSUIT

Paypal Holdings Inc.

Pegasus

Prime Inc.

Primedia Inc.

Renaissance Capital

Rheinmetall AG

Rocade LLC

Rocket Mortgage LLC

SIFMA

Samsung Electronics Co. Ltd.

Santander Consumer USA Inc.

Saudi Arabian Oil Co.

Seagate Technology LLC

Service Employees International Union

Simpson Manufacturing Co. Inc.

Simpson Strong-Tie Co. Inc.

Southwest Airlines Co.

Space Exploration Technologies Corp.

Spokeo Inc.

State Street Corp.

T-Mobile US Inc.

Telefonaktiebolaget LM Ericsson

Tesla Inc.

The Kraft Heinz Co.

The Software & Information Industry Association

Therapeutics Inc.

TransUnion LLC

Tyson Foods Inc.

University of Southern California

Verizon Communications Inc.

Vista Equity Partners Management LLC

Wells Fargo & Co.

X Corp.

eBay Inc.

LAW FIRMS IN TODAY'S NEWS

7 King's Bench Walk

Aaron Katz Law

Aeton Law Partners

Agnifilo Intrater

Ahmad Zavitsanos

Alston & Bird

Altshuler Berzon

ArentFox Schiff

Axinn Veltrop

Baker Donelson

Berger Montague

Bernstein Litowitz

Brick Court Chambers

Brown Pruitt

Bryson Harris Suciu & DeMay

Buchanan Ingersoll

Bunsow De Mory

Butters Brazilian

Cantey Hanger

Christian & Small

Conrad & Scherer

Constable Law

Cooley LLP

Corr Cronin

Covington & Burling

Cravath Swaine

Crowell & Moring

Dardarian Ho

Davis Polk

Day Pitney

DiCello Levitt

Edelson Lechtzin

Eimer Stahl

Faegre Drinker

Federman & Sherwood

Fox & Robertson

Freshfields

Gardner & Rosenberg

Gibson Dunn

Gillam Smith

Girardi & Keese

Goodwin Procter

Gupta Wessler

Harris Beach Murtha

Hogan Lovells

Horvitz & Levy

Hueston Hennigan

Hunton Andrews

Justice Law Collaborative

Keller Anderle

Kelly Hart

Kirkland & Ellis

Kopelowitz Ostrow

Kropf Moseley

Latham & Watkins

Lehotsky Keller

Logan Vance

Lynn Pinker

Markovits Stock

McCarter & English

McDermott Will & Schulte

Migliaccio & Rathod

Milbank LLP

Milberg PLLC

Miller Fair

Mitchell Silberberg

Motley Rice

Mullen Coughlin

Munger Tolles

Nagel Rice

Nicholas & Tomasevic

Nixon Peabody

Paul Hastings

Pillsbury Winthrop

Pollack Solomon

Quinn Emanuel

RM Law PC

Reaves Law Firm PLLC

Robinson Bradshaw

Ropes & Gray

Scott J. Edwards PA

Sethi Law Group

Sheehan Phinney

Shipman & Goodwin

Shoosmiths LLP

Sidley Austin

Silva Kettlewell

Simmons Hanly

Soleiman APC

Starnes Davis

Sterne Kessler

Stranch Jennings

Strauss Borrelli

Sullivan & Cromwell

Troutman

Wachtell Lipton

Weil Gotshal

Werksman Jackson

White & Case

Willkie Farr

Wilson Sonsini

GOVERNMENT AGENCIES IN TODAY'S NEWS

Bureau of Industry and Security

California Supreme Court

Competition and Markets Authority

Dallas Fort Worth International Airport

Delaware Court of Chancery

European Commission

European Union

Federal Bureau of Investigation

Federal Communications Commission

Florida Attorney General's Office

Food and Drug Administration

General Court of the EU

Internal Revenue Service

International Trade Commission

Office of Foreign Assets Control

Patent Trial and Appeal Board

Social Security Administration

U.S. Army

U.S. Attorney's Office for the Central District of California

U.S. Court of Appeals for the Ninth Circuit

U.S. Customs and Border Protection

U.S. Department of Agriculture

U.S. Department of Commerce

U.S. Department of Defense

U.S. Department of Justice

U.S. Department of the Treasury

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

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

U.S. District Court for the District of Connecticut

U.S. District Court for the District of Delaware

U.S. District Court for the District of Maryland

U.S. District Court for the District of Massachusetts

U.S. District Court for the District of New Jersey

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

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

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

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

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

U.S. District Court for the Western District of Tennessee

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

U.S. District Court of the District of New Hampshire

U.S. Drug Enforcement Administration

U.S. Environmental Protection Agency

U.S. House of Representatives

U.S. Patent and Trademark Office

U.S. Securities and Exchange Commission

U.S. Supreme Court

United States District Court for the Northern District of Alabama