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Securities
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March 26, 2026
Elon Musk Slams Twitter Stock Verdict Over Jury's $4.20 'Joke'
Elon Musk did not get a fair trial over claims he defrauded Twitter investors before acquiring the social media platform, the tech billionaire's lawyer told a California federal judge Thursday, saying the jury rolled a marijuana "joke" into the verdict form to mock Musk and the trial process.
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March 26, 2026
Fintech Firm Beats Investor Suit Over Noncompliance Risks
China-based online brokerage firm operator UP Fintech Holding Ltd. has escaped a proposed class action accusing it of misleading investors by concealing risks associated with its noncompliance with New Zealand and Chinese securities laws after a New York federal judge found the company's statements to be full and justified.
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March 26, 2026
FINRA Fines Broker-Dealer $600K For Off-Channel Violations
The Financial Industry Regulatory Authority has fined a San Francisco-based broker-dealer $600,000 for allegedly failing to supervise employees' use of unapproved messaging platforms, in a type of proceeding FINRA's CEO said earlier this week would indicate a "real breakdown" in oversight.
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March 26, 2026
Investment Fraudster Gets 6½ Years For Swindling Clients
A purported investment adviser appearing in his third adulthood fraud case received more than six years in prison on Thursday as an Illinois federal judge expressed hope that he'll "do the hard work" it will take to address the personal issues leading him to engage in such conduct.
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March 26, 2026
Elanco Beats Investor Suit Over Dog Drug's Reg Challenges
A Maryland federal judge Thursday dismissed a proposed securities class action against Elanco Animal Health Inc. that claimed the animal pharmaceuticals company misled investors about the safety of a canine dermatitis treatment it was developing and its timeline for the medication's commercial launch.
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March 26, 2026
SEC Urges Justices To Keep Disgorgement Powers Intact
The U.S. Supreme Court should continue allowing the U.S. Securities and Exchange Commission to collect ill-gotten profits from fraudsters without having to identify any particular victims of said scheme, the agency told the high court in a case that could limit its disgorgement powers.
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March 26, 2026
Penny Stock Seller Says SEC Fraud Claim Fails Without Victim
Western Bankers Capital Inc. and the estate of its operator have urged a New York federal judge to grant them an early win in a U.S. Securities and Exchange Commission suit alleging they and others reaped nearly $6 million in illicit proceeds by selling unregistered penny stocks, in part because they say they were a victim of the alleged scheme.
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March 26, 2026
Legislative Update: Cannabis And Psychedelics Bill Roundup
Lawmakers at the state and federal level stewarded legislation to rein in kratom and its derivatives, Idaho lawmakers took a stand against a proposal to legalize medical marijuana via ballot initiative, and New York legislators introduced a plan to audit the state's cannabis regulator on an annual basis. Here are the major moves in cannabis and psychedelics legislation from the past week.
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March 26, 2026
Liquor Co. Beats Investor Suit Over Post-COVID Biz Downturn
Liquor company MGP Ingredients Inc. no longer faces investor claims it concealed ballooning inventory after demand for booze dropped following the COVID-19 pandemic, as a Kansas federal judge found the shareholders failed to show the company intentionally misled the markets.
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March 26, 2026
Eos Energy Execs Hid Issues Before Raising $1B, Suit Says
Directors and officers of zinc battery manufacturer Eos Energy have been hit with a shareholder's derivative lawsuit accusing them of allowing the company to raise about $1 billion while concealing negative information about revenue and production issues from the market.
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March 26, 2026
BlockFills Gets Ch. 11 Stay Of Crypto Suit Targeting 3 Execs
Cryptocurrency firm BlockFills secured a Delaware bankruptcy judge's permission Thursday to temporarily block a lawsuit from creditors alleging the company and three current and former executives failed to properly manage customer assets.
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March 26, 2026
2nd Circ. Reopens Mortgage-Backed Securities ERISA Suit
The Second Circuit on Thursday revived a federal benefits lawsuit against Wells Fargo and Ocwen accusing the companies of mishandling home loans tied to a union pension fund's investments, overturning a lower court ruling that handed the bank and loan servicing companies a pretrial win in the proposed class action.
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March 26, 2026
Steptoe Adds Barnes & Thornburg Financial Regulatory Leader
Steptoe LLP has hired a Barnes & Thornburg LLP leader in Chicago who helped found two practice groups at his old firm that are focused on financial regulatory matters.
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March 25, 2026
Supermicro Investor Sues After Arrests For China AI Exports
A Super Micro Computer investor alleged in a California federal lawsuit Wednesday that the technology company failed to disclose that a large portion of its server sales were to Chinese companies in transactions that violated U.S. export controls, leading to three arrests and a significant drop in stock price.
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March 25, 2026
Split Del. High Court Affirms Paramount Merger Docs Ruling
In a split decision, the Delaware Supreme Court on Wednesday agreed with a lower court's finding that news articles containing anonymous sourcing were reliable enough to support investors' demands for records pertaining to Paramount Global's merger with Skydance Media.
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March 25, 2026
Fidelity Wins Dismissal In Money Market Fund Fee Suit
A New York federal judge on Wednesday dismissed a putative class action against Fidelity Investments and a Fidelity money market fund's trustees and executives, rejecting shareholders' claims for breach of fiduciary duty or unjust enrichment over the financial service company's alleged failure to convert retail-class shares to lower-cost premium-class shares.
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March 25, 2026
Lawmakers Probe SEC Rulemaking Role In Tokenization
House lawmakers on Wednesday voiced support for bringing blockchain technology to Wall Street securities trading if it improves settlement times and market transparency, but Democrats worried whether certain regulatory experiments could lead to less oversight for crypto securities than their traditional counterparts.
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March 25, 2026
UBS Must Face Class Action Over Low-Yield Sweep Accounts
A New York federal judge on Wednesday trimmed a proposed class action alleging USB Financial Services Inc. put customers' money in low-yielding "cash sweep" accounts in breach of their contract, tossing a single duplicative unjust enrichment claim but allowing the contract claims to proceed.
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March 25, 2026
Nvidia Investors Score Class Cert. After High Court Pass
A California federal judge on Wednesday granted class certification in a shareholder case against chipmaker Nvidia that briefly went before the U.S. Supreme Court and that claims the company failed to inform investors about its reliance on the volatile crypto market.
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March 25, 2026
EV Co. Investors Get Final OK Of $13.3M Deal, Atty Fees
Investors in bankrupt electric vehicle company Arrival have gotten final approval for their nearly $13.3 million deal ending claims the company touted a purportedly profitable business plan as it went public via merger with a special purpose acquisition company only to scale back its projections within a year of the merger announcement.
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March 25, 2026
Ex-Nikola CEOs Can't Get Bankruptcy Pause For Investor Suit
Former CEOs of bankrupt electric-truck maker Nikola Corp. can't hit pause on proposed investor class action claims they face while related claims against the company are stayed amid its bankruptcy proceedings, an Arizona federal judge has determined.
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March 25, 2026
Extreme Networks Must Face Suit Over COVID-Era Demand
A California federal judge rejected Extreme Networks' bid to dismiss a suit alleging it misled investors about its financial prospects and declining client demand during the COVID-19 pandemic, saying the investors adequately pled that the cloud network equipment company engaged in a scheme to inflate revenues through so-called channel-stuffing.
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March 25, 2026
FINRA Constitutionality Case Belongs In 4th Circ., Judge Says
A North Carolina federal judge has thrown out a lawsuit challenging the constitutionality of the Financial Industry Regulatory Authority's in-house disciplinary process, saying the case belongs before the Fourth Circuit.
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March 25, 2026
Warren Grills Fed's Ex-BigLaw Supervision Chief On Conflicts
Sen. Elizabeth Warren, D-Mass., on Wednesday asked former Davis Polk & Wardwell LLP veteran Randall Guynn, a recent addition to the Federal Reserve, to explain how he is dealing with potential conflicts of interest stemming from his previous role chairing the BigLaw firm's financial institutions group.
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March 25, 2026
Paragon 28 Beats Investor Suit Over Inventory Accounting
A Colorado federal judge has permanently tossed a proposed class action against Paragon 28 Inc., which makes products for foot and ankle surgery, and its executives claiming that they misrepresented the company's inventory levels and key financial metrics, finding that the suit fails to plausibly plead that the defendants knowingly made the misleading statements.
Expert Analysis
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Why Prediction Market Regulation Is At Major Inflection Point
As prediction markets experience tremendous growth and rapid mainstream adoption, regulators have begun to exercise enforcement authority to ensure market integrity and protect participants, though forthcoming guidance will shed light on how aggressively the agencies will police the fast-changing landscape, say attorneys at Latham.
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The Benefits Of Choosing A Niche Practice In The AI Age
As artificial intelligence becomes increasingly accessible, lawyers with a niche practice may stand out as clients seek specialized judgment that automation cannot replicate, but it is important to choose a niche that is durable, engaging and a good personal fit, says Daniel Borneman at Lowenstein Sandler.
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Risk Disclosure Lessons For AI Cos. From Dot-Com Era
Regulatory responses following the dot-com collapse reflected a consistent emphasis on whether public disclosures enabled investors to understand the economic reality underlying reported performance, a focus that is likely to shape how artificial intelligence infrastructure disclosures are evaluated if market expectations similarly deteriorate, say Diana Connor, Adrienna Huffman and Bin Zhou at the Brattle Group.
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The Practical Implications Of New FDIC Stablecoin Measures
The Federal Deposit Insurance Corp.'s recent proposal to create a formal process for issuing payment stablecoins arrives with several practical implications for FDIC‑supervised banks pursuing digital asset strategies, including a safe harbor for early applicants and a focus on ownership and governance, say attorneys at Troutman.
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What The CFTC's Event Contracts Amicus Brief Is Missing
The U.S. Commodity Futures Trading Commission's recent amicus brief in the Ninth Circuit's North American Derivatives Exchange v. Nevada case declines to define the boundary between swaps and wagers, leaving market participants, exchanges and intermediaries operating within a regulatory framework whose boundaries remain undrawn, says Tamara de Silva at De Silva Law Offices.
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Series
Podcasting Makes Me A Better Lawyer
Podcasting has changed how I ask questions and connect with people, sharpening my ability to listen without interrupting or prejudging, and bringing me closer to what law is meant to be: a human profession grounded in understanding, judgment and trust, says Donna DiMaggio Berger at Becker.
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AG Watch: Ohio Targets DEI Policies
As Ohio Attorney General Dave Yost seeks to eliminate diversity, equity and inclusion programs in both public education institutions and private companies, Ohio entities must carefully navigate this constantly evolving, highly contentious topic to avoid litigation while also not forfeiting their core principles, say attorneys at BakerHostetler.
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Tax Court Ruling Signals Cross-Border Loan Scrutiny
The U.S. Tax Court’s recent decision in Aventis v. Commissioner compounds ongoing regulatory focus on debt originations and should prompt practitioners to assess their existing cross-border lending structures for potential exposure to U.S. federal income tax, say attorneys at Eversheds.
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Del. Coinbase Outcome May Have Been Different In Texas
The Delaware Court of Chancery's recent decision in Grabski v. Andreessen, finding that a member of the Coinbase special litigation committee was not independent, provides guidance for Delaware boards regarding the formation, composition and operation of SLCs, while offering a counterpoint to the procedures available to Texas-incorporated companies, says John Lawrence at Baker Botts.
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Why The NCUA's Stablecoin Moment Matters
The National Credit Union Administration, a historically conservative federal agency, recently proposed a detailed stablecoin licensing framework, confirming that the proposition of building a regulatory architecture within the banking industry has moved well past "whether" and firmly into "how," says Stephen Aschettino at Fox Rothschild.
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Lessons From Justices' Split On Major Questions Doctrine
The justices' varied opinions in Learning Resources v. Trump, which held the International Emergency Economy Powers Act did not confer the power to impose tariffs, offer a meaningful window into the U.S. Supreme Court's perspective on the major questions doctrine that will likely shape lower courts' approach to executive action challenges, say attorneys at Venable.
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Share Repurchases Leave Cos. Susceptible To Litigation
Because share repurchases bring greater ownership, which typically brings greater voting power, they can have serious implications for corporate control, which can raise questions about the unpaid benefits to some shareholders and lead to securities class actions, says Amit Bubna at Bates White.
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How The New Tariff Landscape May Unfold
To replace tariffs formerly imposed under the International Emergency Economic Powers Act, the administration will rely on a patchwork of statutes, potentially leading to procedural challenges and a complex tariff landscape with varying levels, durations and applicability, says Joseph Grossman-Trawick at King & Spalding.
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Assessing Ruling On SEC Industry Bars In Post-Jarkesy World
According to a D.C. federal court in Sztrom v. U.S. Securities and Exchange Commission, the U.S. Supreme Court's 2024 decision in SEC v. Jarkesy did not eliminate the commission's ability to pursue industry bars through administrative follow-on proceedings, a major blow for future Article 3 challenges — so long as it stands, say attorneys at Venable.
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Del. Justices' Upholding Of SB 21 Gives Cos. Needed Clarity
The Delaware Supreme Court's recent unanimous decision in Rutledge v. Clearway Energy — upholding 2025 corporate law amendments enacted through S.B. 21, which clarified safe harbor protections and key terms — may help stem the DExit movement, whose proponents have claimed unpredictability in Delaware courts, say attorneys at Nelson Mullins.