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Securities
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April 09, 2026
SpaceX Plans Record Retail Slice In IPO, And Other Rumors
As SpaceX prepares what could be the largest initial public offering ever, executives reportedly told the company's bankers that it plans to allocate a record portion of shares to retail investors, drawing comparisons to the so-called meme stock frenzy of 2021.
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April 09, 2026
Driven Brands Hit With Investor Suit Over Financial Controls
Auto services holding company Driven Brands is facing a proposed class action from a shareholder accusing it of misleading the public about the firm's internal controls over financial reporting, leading to a 30% single-day share price drop when investors learned that results of several quarters were inaccurately reported.
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April 09, 2026
Crypto CEO Fights Extradition On Human Rights Grounds
The former chief executive of a crypto-asset company fought against extradition to the U.S. on fraud charges on Thursday, telling a London court that it would violate his human rights as he would be at an increased risk of suicide.
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April 08, 2026
Feds Move To Block Arizona's Gambling Laws Against Kalshi
The U.S. Department of Justice and the U.S. Commodity Futures Trading Commission on Wednesday backed Kalshi's assertion that Arizona's gambling laws cannot be applied to federally regulated prediction market platforms, the same day the Phoenix federal court rejected Kalshi's bid to halt enforcement of those state laws.
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April 08, 2026
DC Circ. Allows DOD To Ax Anthropic Contracts Amid Review
The D.C. Circuit Wednesday shot down Anthropic's request for an emergency order temporarily barring the U.S. Department of Defense from designating the artificial intelligence company as a national security risk while Anthropic's appeal plays out, although it agreed to expedite the appeal.
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April 08, 2026
VC Fund Chief, Firms To Pay SEC $2.4M To Settle Fraud Claim
A Florida resident and his investment advisory firms agreed Wednesday to pay nearly $2.4 million to the U.S. Securities and Exchange Commission to settle claims they made false and misleading disclosures to investors in the venture capital funds they managed.
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April 08, 2026
Tupperware Investors Seal $21.8M Deal, Net $7.3M In Atty Fees
Former executives of Tupperware and the company's investors have received final approval of their $21.8 million deal to end claims the executives misleadingly represented that Tupperware was taking significant efforts to correct dwindling profit margins.
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April 08, 2026
SEC Watchdog To Pay Tipsters Who Uncover Agency Waste
The U.S. Securities and Exchange Commission's Office of Inspector General has launched a cash awards program that the agency hopes will incentivize its workers to report fraud, waste and mismanagement.
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April 08, 2026
SEC Says Booze Co. Ginned Up Bogus Sales In Investor Fraud
The U.S. Securities and Exchange Commission has sued the former CEO of a now-defunct organic alcohol company in Minnesota federal court for allegedly raising $2.4 million from investors after recording sham transactions to prop up the company amid financial difficulties.
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April 08, 2026
Trump Economists Say Stablecoin Yield Ban Won't Help Banks
Economists to President Donald Trump said Wednesday that banning cryptocurrency exchanges from paying stablecoin rewards or yield would "do very little to protect bank lending" and leave consumers worse off, findings that come amid a contentious push to tighten yield restrictions.
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April 08, 2026
VW Beats 'Clean Diesel' NY Shareholder Derivative Suit
A New York state trial court has thrown out a shareholder derivative suit seeking to hold current and former Volkswagen AG supervisory board members and executives in Germany liable for perpetrating the 2015 emissions cheating scandal, saying the dispute doesn't belong in the Empire State.
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April 08, 2026
Mercury Systems Investors Seek Final OK Of $32.5M Deal
Investors in aerospace and defense technology company Mercury Systems Inc. have asked a Boston federal judge to give the final nod to their $32.5 million deal to end claims the company mischaracterized certain integration processes amid a $1.4 billion acquisition spree, causing trading prices to slide as the company acknowledged financial fallout stemming from the integration woes.
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April 08, 2026
Del. Judge Orders Disclosures Over PE Investors In Law Firms
As ethics concerns mount over the growing interest in allowing outside investment in the legal industry, Delaware's top federal judge is requiring attorneys seeking pro hac vice admission in his court to certify that they do not practice law or share fees with nonlawyers, with certain exceptions.
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April 08, 2026
Binance, Ex-CEO Seek End To $1.8B FTX Clawback Suit
Binance and its founder told a Delaware bankruptcy judge Wednesday there are no grounds on which to claw back a $1.76 billion payment to the cryptocurrency platform from its defunct competitor FTX, saying it was a fair deal reached outside her jurisdiction.
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April 08, 2026
Pryor Cashman Hires Tax Atty In NY From Curtis
Pryor Cashman LLP announced Tuesday that it has hired a former Curtis Mallet-Prevost Colt & Mosle LLP partner, touting her history advising businesses on complex tax matters across jurisdictions.
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April 08, 2026
Trader To Pay $4.2M For $77M Pump-And-Dump Scheme Role
A Massachusetts federal judge Wednesday ordered a penny stock trader to pay more than $4.2 million for his role in a $77 million pump-and-dump scheme, ruling in a lawsuit brought by the U.S. Securities and Exchange Commission.
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April 08, 2026
SEC Taps Gibson Dunn Partner For Enforcement Director
The U.S. Securities and Exchange Commission announced Wednesday that it has appointed a Gibson Dunn & Crutcher LLP partner and former senior enforcement attorney to serve as director of the agency's Division of Enforcement, following the abrupt resignation of the most recent director.
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April 08, 2026
Securities And M&A Litigator Rejoins Latham From Cooley
Latham & Watkins LLP has announced that a New York litigator has rejoined its ranks after a decade-long stint with Cooley LLP.
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April 07, 2026
FINRA Fines JPMorgan Unit $3.25M Over Red Flag Lapses
A JPMorgan Chase & Co. subsidiary has agreed to pay a $3.25 million fine to end Financial Industry Regulatory Authority claims that it failed to take action on red flags raised over a registered representative's inappropriate and risky investment strategy recommendations that preceded significant customer losses.
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April 07, 2026
SEC Slams Past Enforcement As It Reports Fewer Cases
The U.S. Securities and Exchange Commission announced Tuesday that it brought almost 30% fewer original enforcement actions last year compared to the previous year, a dramatic decrease the agency said follows a past enforcement practice that aimed to "pursue media headlines and run up numbers."
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April 07, 2026
Adani Defendants Preview Dismissal Bid In SEC Case
Billionaire business leader Gautam Adani on Tuesday previewed his plans to seek dismissal of a U.S. Securities and Exchange Commission suit accusing him and his nephew of committing securities fraud in connection with a $750 million bond offering, arguing the claims are outside the scope of U.S. courts.
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April 07, 2026
SEC Says Firm, Atty Ran $6M High-Yield Investment Scheme
The U.S. Securities and Exchange Commission on Tuesday sued an investment firm, its owner and an attorney in Florida federal court for allegedly misappropriating $2.4 million from at least eight investors in a purported high-yield investment program that promised access to global financial tools.
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April 07, 2026
Winston & Strawn Adds White Collar Duo From McDermott
Winston & Strawn LLP announced Tuesday that it is beefing up its white collar defense and government investigations practice in Washington, D.C., and New York with the addition of two former McDermott Will & Schulte partners, who each have years of compliance experience.
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April 07, 2026
Prediction Markets Tumbling Toward Supreme Court
The vast expanse of litigation over sports offerings on prediction markets was jolted by a Third Circuit decision in favor of Kalshi this week, likely further speeding the issue's already fast track to the U.S. Supreme Court.
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April 07, 2026
Upstart Misled Investors On AI Model's Accuracy, Suit Alleges
An investor of cloud-based artificial intelligence lending platform Upstart Holdings Inc. hit the company and its top brass with a proposed class action Tuesday, alleging they misrepresented the accuracy of the company's AI model and how it was affecting Upstart's revenues and growth.
Expert Analysis
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Parsing Rule 12(c) Motion Overuse In Securities Class Actions
Defendants in securities class actions have more frequently been filing motions for judgment on the pleadings following the denial of motions to dismiss, but courts have recently demonstrated an increasing willingness to reject these previously rare motions, finding them transparent attempts to relitigate already-decided issues, say attorneys at Labaton Keller.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
As usual, California remained a hub for financial services activity in the first quarter of 2026, with key developments including the California Department of Financial Protection and Innovation's eye on consumer issues, a bill targeting "pig butchering" schemes, and jam-packed courts, say attorneys at Joseph Cohen.
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Series
Ultramarathons Make Me A Better Lawyer
Completing a 100-mile ultramarathon was tougher, more humbling and more rewarding than I ever imagined, and the experience highlighted how long-distance running has sharpened my ability to adapt to the evolving nature of antitrust law and strengthened my resolve to handle demanding, unforeseen challenges, says Dan Oakes at Axinn.
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When AI Puffery Becomes Actionable Securities Fraud
Though courts usually hold that vague but optimistic corporate statements don’t constitute securities fraud, signs suggest that investors may give enough economic weight to references to artificial intelligence in public company disclosures that broad feel-good statements could cross into actionable misrepresentation, says Christine Polek at Keystone Strategy.
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Series
Pa. Banking Brief: All The Notable Legal Updates In Q1
The first quarter of 2026 brought several consequential developments for Pennsylvania financial institutions, including the state banking department's first assessment overhaul in 10 years, a bill prohibiting interchange fees on card transaction sales taxes and a federal appeals court's upholding of a $52 million enforcement action, say attorneys at Gross McGinley.
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Madison Capital Action Displays SEC's Emphasis On Process
The U.S. Securities and Exchange Commission's recent enforcement action against Madison Capital reflects the SEC's view that when market conditions materially change, valuation methodologies must be reassessed in real time, highlighting the importance of internal processes, say attorneys at Lankler Siffert & Wohl.
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Navigating The Perks Of Qualified Opportunity Zones 2.0
The second iteration of the qualified opportunity zone program, effective Jan. 1, 2027, will introduce new tax incentives for rural real estate development, but these benefits can only be realized if proper governance is a priority, including clear documentation and securities law compliance, says Coni Rathbone at VF Law.
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Getting The Most Out Of Learning And Development Programs
Excerpt from Practical Guidance
Junior associates can better develop the legal, business and interpersonal skills they need for long-term success by approaching their firms’ learning and development programs armed with five tips for getting the most out of these resources, says Lauren Hakala at Reed Smith.
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OCC Rule Tests Nonfiduciary Powers Of Trust Banks
The Office of the Comptroller of the Currency's updates to its final rule on national bank chartering, effective April 1, may augur a showdown between the OCC, states and traditional banking institutions over both the authority of national trust banks to engage in nonfiduciary activities under the National Bank Act, and the scope of federal preemption, says Audrey Carroll at Stinson.
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AI And Threats To Privilege In Financial Sector Probes
The recent spotlight on the potential for artificial intelligence platforms to serve as a source for discoverable information is especially important for financial institutions to understand, as the industry navigates increasingly complex regulatory expectations and AI tools become embedded in investigative efforts, say attorneys at Jackson Lewis.
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'A-C-T' Agenda Signals New Regulatory Era At SEC Speaks
At this year's SEC Speaks, U.S. Securities and Exchange Commission Chairman Paul Atkins unveiled his ambitious A-C-T agenda — advance, clarify and transform — to align the federal securities regulatory regime with modern markets, illustrating that the conference was not merely a status update but an action plan, say attorneys at Perkins Coie.
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Opinion
AI Presents A Make-Or-Break Moment For Outside Counsel
The rapid adoption of artificial intelligence by corporate legal departments is forcing a long-overdue reset of the relationship between inside and outside counsel, and introducing a significant opportunity to shed frustrating inefficiencies and strengthen collaboration for firms willing to embrace the shift, says Intel Chief Legal Officer April Miller Boise.
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8 Tariff Refund Questions For Restructuring Professionals
For restructuring and turnaround professionals, seeking refunds following the U.S. Supreme Court's recent decision invalidating tariffs imposed under the International Emergency Economic Powers Act raises several questions about how to capture legitimate recoveries while protecting an enterprise from the consequences of its own history, says Jonny Frank and Laura Greenman at StoneTurn, and Andrew Popescu at Province.
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When Class Certification Issues And Crypto Nuance Collide
A New York federal court's recent ruling in In re: Tether and Bitfinex highlights that crypto companies should expect courts to apply conventional class action principles to novel digital asset markets, albeit with careful attention paid to the unique features of crypto trading, say attorneys at Duane Morris.
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Series
Watching Hallmark Movies Makes Me A Better Lawyer
I realize you may be judging me for watching, and actually enjoying, Hallmark Channel movies, but the escapism and storylines actually demonstrate qualities and actions that lead to an efficient, productive and positive legal practice, says Karen Ross at Tucker Ellis.