Securities

  • October 15, 2025

    $60M Deal Gets Final OK Over Adviser's Role In Ponzi Scheme

    An Illinois state judge on Wednesday gave the final nod to a settlement deal that includes a $60 million judgment, ending investors' negligence claims against their investment adviser, though claims remain ongoing against a movie producer who allegedly misused their investment funds.

  • October 15, 2025

    OCC Conditionally OKs Palmer Luckey's Thiel-Backed Bank

    The Office of the Comptroller of the Currency on Wednesday gave its initial green light to a new virtual currency-focused national bank backed by tech entrepreneurs Peter Thiel and Palmer Luckey, marking the first such approval for a new bank since Jonathan Gould was sworn in as Comptroller in July.

  • October 15, 2025

    3rd Circ. Clears Cannabis REIT In Investor Fraud Suit

    The Third Circuit on Wednesday affirmed the dismissal of a securities fraud class action against a cannabis-focused real estate investment trust that alleged the trust violated securities laws by ignoring red flags about a tenant, with the panel finding that investors failed to show they were intentionally misled.

  • October 15, 2025

    SEC Says Couple's $26.5M Ponzi Scheme Targeted Minorities

    The U.S. Securities and Exchange Commission accused a California couple Wednesday of running a $26.5 million unregistered securities fraud that targeted Vietnamese and Latino communities in multiple states. 

  • October 15, 2025

    Chancery 'Rewrote' $3.4B Merger Deal, J&J Tells Del. Justices

    Johnson & Johnson told the Delaware Supreme Court on Wednesday that the Chancery Court "rewrote" its $3.4 billion agreement for the acquisition of surgical robotics firm Auris Health, wrongly using the implied covenant of good faith and fair dealing to impose obligations the company never accepted.

  • October 15, 2025

    Crypto.com Can't Block Nev. Action Over Event Contracts

    A Nevada federal judge decided not to bar state gaming regulators from taking action over Crypto.com's event contracts for now, reaching a different conclusion than his earlier ruling in a similar challenge from event contract platform Kalshi after finding that Crypto.com's contracts do not appear to qualify as swaps under the Commodity Exchange Act.

  • October 15, 2025

    Hertz Must Face Investors' Claims Over EV Statements

    Car rental giant Hertz Global Holdings Inc. can't completely shed securities fraud claims over its statements that it was seeing strong demand for electric cars that artificially boosted stock prices, a Florida federal judge has ruled, while also dismissing other claims in the proposed class action.

  • October 15, 2025

    Mineral Co. Investors Seek Final OK Of $4.9M Deal

    Investors of mineral producer Compass Minerals International Inc. have asked a Kansas federal judge to grant final approval to their nearly $5 million deal settling claims that the company misled the public about the likelihood it would secure a fire retardant supplier contract with the U.S. Forest Service.

  • October 15, 2025

    Pa. Man Pleads To Misleading Investors In $33M Crypto Scam

    A Pennsylvania man accused of bilking investors out of more than $33 million in a cryptocurrency investment scheme pled guilty in federal court Wednesday.

  • October 15, 2025

    Del. Justices Ask How Court Can Uphold Musk Pay Unwinding

    A Delaware Supreme Court justice on Wednesday pressed a Tesla Inc. stockholder class attorney on how founder Elon Musk — facing a Court of Chancery strike-down of his $56 billion, multiyear compensation plan — can be "put back to the status quo ante after six years of achieving what he was asked to achieve."

  • October 15, 2025

    Some Federal Workers Win Quick Block On Shutdown Layoffs

    A California federal judge on Wednesday granted a request from two unions representing thousands of federal workers to immediately block the Trump administration from laying them off during the government shutdown, saying she believes the plaintiffs will show that "what's being done here is both illegal and is in excess of authority."

  • October 14, 2025

    GOP Bill Would Codify Trump Private Equity 401(k) Order

    A Montana Republican lawmaker announced Tuesday the introduction of a bill that would codify President Donald Trump's executive order that aims to make it easier for retirement plans to invest in nontraditional 401(k) assets like private equity and cryptocurrency.

  • October 14, 2025

    $300M Asset Suit Tossed In NC Over Demand Futility Failure

    A North Carolina business court judge has dismissed a lawsuit from shareholders alleging leaders of an investment fund allowed an exchange of more than $300 million in diversified assets for "worthless" illiquid equity, finding the complaint did not allege either a material benefit or a substantial likelihood of liability as to the adviser.

  • October 14, 2025

    Sony Is Among Latest To Apply For OCC Crypto Bank License

    Sony's online banking unit has applied with the Office of the Comptroller of the Currency to set up a U.S. offshoot that would mint stablecoins and custody digital assets, joining a wave of firms that have approached the agency with crypto-related business plans.

  • October 14, 2025

    Banks Ignored NFT Scam That 'Screamed Fraud,' Court Told

    A Texas investor urged a California federal court not to toss his lawsuit accusing East West Bank and Cathay Bank of ignoring red flags from scammers and enabling a $17 million romance scam, saying that he provided enough evidence showing that the banks disregarded obvious signs of fraud.

  • October 14, 2025

    Oregon Says Judge Was Right To Remand Coinbase Suit

    The state of Oregon has pushed back against Coinbase's objections to a federal judge's findings and recommendation that the state's case against the cryptocurrency platform be sent back to state court, saying the judge "properly concluded that no basis for federal jurisdiction exists."

  • October 14, 2025

    DC Circ. Upholds SEC's Cap On Exchange Fees

    The D.C. Circuit on Tuesday rejected a call to overturn a U.S. Securities and Exchange Commission regulation capping the fees that exchanges can charge investors, ruling that the agency has "broad regulatory authority" to police the space.

  • October 14, 2025

    Ex-Clear Street Employees Sue Over Retaliation, Defamation

    Four former employees of financial services company Clear Street Management have sued the firm, claiming they were retaliated against as whistleblowers and falsely terminated "for cause" when they attempted to resign over allegations of a toxic workplace.

  • October 14, 2025

    NYC Mayor Creates Crypto Office Ahead Of Departure

    New York City Mayor Eric Adams on Tuesday issued an executive order to establish a mayoral office focused on attracting crypto talent and economic opportunities to the city, an announcement that comes weeks before the city is set to elect a new mayor.

  • October 14, 2025

    DOJ Seizes $15B In Bitcoin Linked To Pig Butchering Scams

    Federal law enforcement and the U.S. Department of the Treasury are taking aim at a sprawling Cambodian human trafficking operation and cryptocurrency scam in an indictment and record-setting $15 billion forfeiture action unveiled Tuesday that detailed Prince Holding Group's alleged use of forced labor to steal and launder billions of dollars from victims worldwide.

  • October 14, 2025

    LG Subsidiary Sued In Del. Over Share Pledge Blocks

    Two tech company stockholders sued a majority shareholding affiliate of LG Electronics Inc. in Delaware's Court of Chancery Tuesday, alleging wrongful blocking of rights to pledge shares of the tech company for loans and accusing Zenith of scheming to squeeze out minority investors.

  • October 14, 2025

    Prime Core's Trust Seeks $93.6M Clawback After Bankruptcy

    The litigation trust overseeing bankrupt crypto custodian Prime Core Technologies Inc. has launched a clawback suit in the U.S. Bankruptcy Court for the District of Delaware, seeking to recover nearly $93.6 million in alleged preferential transfers made to a London-based trading partner in the weeks before Prime's collapse.

  • October 14, 2025

    Institutional Support For Proxy Proposals Down, Report Finds

    Institutional support for shareholder proxy proposals has declined to its lowest level since 2021, while retail investor support for such proposals rose slightly, according to a Tuesday report released by financial technology firm Broadridge Financial Solutions Inc.

  • October 14, 2025

    'Bitcoin Jesus' Paid $50M In Tax Deal, US Says

    The U.S. asked a California federal court Tuesday to dismiss its criminal tax case against a cryptocurrency investor known as Bitcoin Jesus, disclosing that he has paid the $50 million he owed for hiding bitcoin from the IRS after renouncing his U.S. citizenship more than a decade ago.

  • October 14, 2025

    Tether Accused Of Wrongly Freezing $45M In Cryptocurrency

    Stablecoin issuer Tether faces a lawsuit from a business claiming that Tether improperly froze cryptocurrency worth about $44.72 million at the behest of a local police department in Bulgaria, departing from proper procedures for an asset freeze.

Expert Analysis

  • Genius Act Poses Strategic Hurdles For Community Banks

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    ​​​​​​​The pace of change in digital asset policy, including the recent arrival of the Genius Act, suggests that strategic planning should be a near-term priority for community banks, with careful attention to customer relationships, regulatory developments and the local communities they serve, say attorneys at Jones Walker.

  • Series

    Adapting To Private Practice: From Va. AUSA To Mid-Law

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    Returning to the firm where I began my career after seven years as an assistant U.S. attorney in Virginia has been complex, nuanced and rewarding, and I’ve learned that the pursuit of justice remains the constant, even as the mindset and client change, says Kristin Johnson at Woods Rogers.

  • Rebutting Price Impact In Securities Class Actions

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    Defendants litigating securities cases historically faced long odds in defeating class certification, but that paradigm has recently begun to shift, with recent cases ushering in a more searching analysis of price impact and changing the evidence courts can consider at the class certification stage, say attorneys at Katten.

  • 7 Document Review Concepts New Attorneys Need To Know

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    For new associates joining firms this fall, stepping into the world of e-discovery can feel like learning a new language, but understanding a handful of fundamentals — from coding layouts to metadata — can help attorneys become fluent in document review, says Ann Motl at Bowman and Brooke.

  • Senate Bill Could Overhaul Digital Asset Market Structure

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    The Senate Banking Committee's draft Responsible Financial Innovation Act would not only clarify the roles and responsibilities of financial institutions engaging in digital asset activities but also impose new compliance regimes, reporting requirements and risk management protocols, say attorneys at Troutman.

  • Opinion

    Congress Must Resolve PSLRA Issue For Section 11 Litigants

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    By establishing a uniform judgment reduction credit for all defendants in cases involving Section 11 of the Securities Act, Congress could remove unnecessary statutory ambiguity from the Private Securities Litigation Reform Act and enable litigants to price potential settlements with greater certainty, say attorneys at Sidley.

  • Stablecoin Committee Promotes Uniformity But May Fall Short

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    While the Genius Act's establishment of the Stablecoin Certification Review Committee will provide private stablecoin issuers with more consistent standards, fragmentation remains due to the disparate regulatory approaches taken by different states, say attorneys at Morgan Lewis.

  • Agentic AI Puts A New Twist On Attorney Ethics Obligations

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    As lawyers increasingly use autonomous artificial intelligence agents, disciplinary authorities must decide whether attorney responsibility for an AI-caused legal ethics violation is personal or supervisory, and firms must enact strong policies regarding agentic AI use and supervision, says Grace Wynn at HWG.

  • Resilience Planning Is New Key To Corporate Sustainability

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    While the current wave of deregulation may reduce government enforcement related to climate issues, businesses still need to evaluate how climate volatility may affect their operations and create new legal risks — making the apolitical concept of resilience increasingly important for companies, says J. Michael Showalter at ArentFox Schiff.

  • Parsing Trump Admin's First 6 Months Of SEC Enforcement

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    The U.S. Securities and Exchange Commission's enforcement results for the first six months of the Trump administration show substantially fewer new enforcement actions compared to the same period under the previous administration, but indicate a clear focus on traditional fraud schemes affecting retail investors, say attorneys at King & Spalding.

  • FDA Transparency Plans Raise Investor Disclosure Red Flags

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    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.

  • Series

    Being A Professional Wrestler Makes Me A Better Lawyer

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    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.

  • SEC Rulemaking Radar: The Debut Of Atkins' 'New Day'

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    The U.S. Securities and Exchange Commission's regulatory flex agenda, published last week, demonstrates a clear return to appropriately tailored and mission-focused rulemaking, with potential new rules applicable to brokers, exchanges and trading, among others, say attorneys at Goodwin.

  • Series

    Law School's Missed Lessons: Adapting To The Age Of AI

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    Though law school may not have specifically taught us how to use generative artificial intelligence to help with our daily legal tasks, it did provide us the mental building blocks necessary for adapting to this new technology — and the judgment to discern what shouldn’t be automated, says Pamela Dorian at Cozen O'Connor.

  • Ch. 11 Ruling Voiding $2M Litigation Funding Sends A Warning

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    A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a completely drawn down $2 million litigation funding agreement serves as a warning for estate administrators and funders to properly disclose the intended financing, say attorneys at Kleinberg Kaplan.

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