Expert Analysis

• 2nd Circ. Ruling Reinforces Securities Act Limits Post-Slack

  

  The Second Circuit's recent decision to limit treatment of mandatory reverse splits as actionable sales in Knapp v. Barclays is narrow but important, offering issuers a stronger basis to challenge expansive Securities Act theories and reinforcing the post-Slack v. Pirani discipline of tracing, says Elisha Kobre at Sheppard.

• 2 Discovery Rulings Break With Heppner On AI Privilege Issue

  

  While a New York federal court’s recent ruling in U.S. v. Heppner suggests that some litigants’ communications with AI tools are discoverable, two other recent federal court decisions demonstrate that such interactions generally qualify for work-product protection under the Federal Rules of Civil Procedure, says Joshua Dunn at Brown Rudnick.

• Opinion

  BNP Paribas Case Could Upend Global Banking Norms

  

  If upheld on appeal, a New York federal jury's multimillion-dollar verdict against BNP Paribas would create an unpredictable liability landscape for global financial institutions in which fully lawful services in foreign countries can give rise to civil liability in U.S. courts, in a manner contrary to federal law, say attorneys at White & Case.

• Series

  Isshin-Ryu Karate Makes Me A Better Lawyer

  

  My involvement in martial arts, specifically Isshin-ryu, which has principles rooted in the eight codes of karate, has been one of the most foundational in the development of my personality, and particularly my approach to challenges — including in my practice of law, says Kaitlyn Stone at Barnes & Thornburg.

• What To Know About NY's Employment Credit Check Ban

  

  An amendment to the New York state Fair Credit Reporting Act prohibiting applicants' or employees' consumer credit history from being used in employment-related decisions statewide will take effect in a few days, so employers should update policies, train teams and audit positions for narrow exemptions, say attorneys at Reed Smith.

• 'Made In America' EO May Not Survive Section 230

  

  President Donald Trump's recent executive order to combat fraudulent "Made in America" claims in advertising directs the Federal Trade Commission to deem online marketplaces' failure to verify third-party origin claims as unlawful, but such a rule would likely run into Section 230's publisher immunity doctrine, say attorneys at Blank Rome.

• CFTC Actions Show Prediction Market Insider Trading Risks

  

  It is a myth that insider trading law does not apply in prediction markets, as the U.S. Commodity Futures Trading Commission's recent enforcement actions illustrate that it has full authority to pursue such cases federally — and intends to, says attorney Gregg Goldfarb.

• Prepping For White House's Proposed AI Framework

  

  The artificial intelligence legislative framework issued by the White House last month reframes the policy landscape, creating a number of near-term developments for companies to track as congressional committees attempt to convert the framework into legislative text, say attorneys at Morgan Lewis.

• 2nd Circ. Clarifies When Prior Good Acts May Be Admissible

  

  The Second Circuit's recent ruling in U.S. v. Cardenas, vacating a drug conspiracy conviction over improperly excluded evidence, indicates that evidence of prior good acts may be admissible to corroborate a defendant's testimony about their understanding of events and intent, say attorneys at Lowenstein Sandler.

• Opinion

  State Bars Need To Get Specific About AI Confidentiality

  

  Lawyers need to put actual client information into artificial intelligence tools to get their full value, but they cannot confidently do so until state bars offer clear, formal authority on which plan tiers of the three most popular generative AI tools are safe to use when sharing specific client details, says attorney Nick Berk.

• Opinion

  Futures Market Anonymity Now Presents A Structural Problem

  

  Following anomalous trading on prediction markets just before major recent policy announcements from the Trump administration, many have called on Congress to act, but the problem is not primarily a statutory gap — it is a structural one, built into the self-regulatory model that governs futures exchanges, says Tamara de Silva at De Silva Law Offices.

• Opinion

  Judicial Restraint Anchors Constitutional Order

  

  Contrasting opinions in two recent U.S. Supreme Court rulings — Trump v. CASA and Bost v. Illinois State Board of Elections — demonstrate how the judiciary’s constitutionally entrusted role can easily be preserved or disrupted, and invite renewed attention to the enduring importance of judicial restraint, says Ninth Circuit Judge J. Clifford Wallace.

• The Evolution Of States' Workplace Violence Prevention Laws

  

  Utah's new law requiring hospitals to implement comprehensive workplace violence reporting systems continues a broader trend of state efforts to expand workplace protections in the absence of sufficient federal regulations, say attorneys at Ogletree.

• Resolving The Conflict In 2nd Circ. Foreign Discovery Rulings

  

  The Second Circuit recently issued two seemingly inconsistent decisions regarding the federal statute that permits U.S. discovery for purposes of a foreign proceeding, but the unifying feature appears to be the broad scope for district court discretion under Section 1782, say attorneys at Katsky Korins.

• How 2nd Circ. Gave Loper Bright Real Force In SEC Cases

  

  The Second Circuit's recent decision in U.S. Securities and Exchange Commission v. Amah offers one of the first clear indications of how courts will operationalize Loper Bright, signaling that long-standing SEC enforcement theories resting on ambiguous definitional provisions are now subject to more rigorous judicial scrutiny, say attorneys at Morgan Lewis.