Securities

  • October 23, 2025

    Jurors See MIT Bros' Chats, Plans For $25M Crypto Gambit

    Jurors weighing the fate of two MIT-educated brothers accused of pulling a $25 million crypto heist on Thursday saw a swath of messages and search history that prosecutors say detail the planning for a high-tech fraud that profited at the expense of other traders on the Ethereum blockchain.

  • October 23, 2025

    Chancery Maps Out Math For Hefty Drug Co. Breach Interest

    A Delaware vice chancellor late Thursday issued a road map for calculating tens of millions of dollars in interest due after a ruling in June that Alexion Pharmaceuticals failed a "best efforts" duty to fulfill an autoimmune drug candidate deal with Syntimmune Inc.

  • October 23, 2025

    Adidas Hid Ye's Hate Speech From Investors, 9th Circ. Told

    Adidas investors urged the Ninth Circuit on Thursday to revive allegations that the sportswear giant failed to disclose the risks of relying on the rapper Ye for a multibillion-dollar fashion partnership, arguing that executives hid evidence of his "raging" antisemitism, like his proposal for a swastika shoe design.

  • October 23, 2025

    Rio Tinto Investors Get Final OK On $139M Deal, Atty Fees

    A New York federal judge on Thursday awarded $17.7 million in attorney fees and granted final approval for a $139 million settlement reached in a securities class action that accused mining giant Rio Tinto of concealing delays and cost overruns in a $7 billion copper-gold mine development in southern Mongolia.

  • October 23, 2025

    Investor Says Biotech Co. Rigged Votes To Expand Share Pool

    A stockholder of Pennsylvania-based Ocugen Inc. sued the biotech company Thursday in Delaware Chancery Court, alleging that the company's board contrived a "clever" but unlawful scheme to push through a 2024 charter amendment that expanded its authorized share count without the required majority approval.

  • October 23, 2025

    FINRA Announces Probe Of Broker-Dealers' China Work

    The Financial Industry Regulatory Authority notified its members on Thursday that it is investigating broker-dealers that have helped small companies based out of China and other foreign jurisdictions to go public, signaling that it is looking for possible stock manipulation tied to the firms' work. 

  • October 23, 2025

    Full 5th Circ. Asked To Rehear Texas Bankers' OCC Dispute

    Two former Texas bankers have asked the full Fifth Circuit to revive their constitutional challenge to an in-house Office of the Comptroller of the Currency enforcement case, arguing that the appellate panel's decision to reject their appeal wrongly stripped them of their right to a jury trial and handed banking agencies "unlimited discretion" to prosecute old misconduct.

  • October 23, 2025

    SEC Being Misled In CBD Fraud Fight, CEO Claims

    The U.S. Securities and Exchange Commission has "unwittingly" taken the side of a former partner with a terminated licensing agreement, a pharmaceutical CEO told a California federal court this week, asking for summary judgment on the SEC's core claims that he defrauded investors.

  • October 23, 2025

    SEC Accuses Hedge Fund Manager Of $2.7M Fraud Scheme

    The U.S. Securities and Exchange Commission accused a New York-based investment adviser of using two companies to defraud over 25 investors out of $2.7 million with false promises of positive returns.

  • October 23, 2025

    Morgan Stanley, Envestnet Board Sued In Del. Over $4.5B Sale

    Two stockholders of wealth and data management giant Envestnet Inc. sued the company's former CEO, board and financial adviser Morgan Stanley in Delaware Chancery Court on Thursday, alleging breaches or aiding breaches of fiduciary duty tied to the company's $4.5 billion take-private deal with affiliates of Bain Capital.

  • October 23, 2025

    Musk Can't Lean On Atty Defense In Twitter Investor Dispute

    A New York federal judge on Thursday blocked Elon Musk from asserting that he relied on his attorneys' advice in deciding when to disclose that he had taken an ownership interest in Twitter, saying it wouldn't be fair to the platform's former shareholders to allow him to move forward with that defense.

  • October 23, 2025

    Judges Admit AI Missteps After Grassley's Oversight Push

    Federal judges in New Jersey and Mississippi admitted their staff used artificial intelligence in faulty orders they had to redo over the summer, according to correspondence released Thursday by Sen. Chuck Grassley, R-Iowa, chair of the Senate Judiciary Committee, who is investigating the matter.

  • October 23, 2025

    Trump Pardons Convicted Binance Founder Changpeng Zhao

    President Donald Trump has pardoned the convicted Binance founder Changpeng Zhao, a move that could open the door for Zhao to return to Binance if he so chooses, and for the crypto exchange to renegotiate the terms of its own plea deal, experts said Thursday.

  • October 22, 2025

    EDGAR Filer Worker Cops To Insider Trading Conspiracy

    A former employee of a company that handles U.S. Securities and Exchange Commission filings for public companies has pled guilty to insider trading in connection with federal prosecutors' charges he used nonpublic information to buy up shares of issuers poised to announce positive news.

  • October 22, 2025

    Fintechs, Banks Clash Over Open Banking Rule Revisions

    Trade groups representing banks and fintechs clashed in comment letters over the Consumer Financial Protection Bureau's plans to revise its data-sharing mandate, as banks urged the agency to scrap much of the earlier rule for favoring fintechs, while the tech upstarts argued many of the provisions remain necessary to bust banks' allegedly anticompetitive behavior.

  • October 22, 2025

    Bristol-Myers $450M Payment Dispute Heads To Arbitration

    A judge sitting for Delaware's Court of Chancery has sent to arbitration allegations from shareholders of a small biotechnology company acquired by Bristol-Myers Squibb that the pharmaceutical giant used trickery to avoid paying up to $450 million in milestone payments.

  • October 22, 2025

    Tesla Claims Texas Charter Trumps Sweeping Claims In Del.

    Attorneys for Tesla, its principals and Elon Musk told Delaware's chancellor on Tuesday that the company's widely trumpeted corporate charter move from Delaware to Texas should doom a Court of Chancery consolidated stockholder suit challenging a string of actions by the company and Musk.

  • October 22, 2025

    4th Circ. Seems Wary Of Under Armour's $100M Coverage Win

    The Fourth Circuit didn't seem convinced Wednesday that it should affirm a lower court's finding that government investigations into Under Armour are unrelated to a securities class action against the sportswear company and thus trigger an additional $100 million in directors and officers coverage from Under Armour's excess insurers.

  • October 22, 2025

    Crypto Exchange Fined $126.4M For AML Violations In Canada

    A Canadian financial regulator on Wednesday ordered crypto exchange Cryptomus to pay a 177 million Canadian dollar ($126.4 million) penalty to resolve anti-money laundering compliance claims, many of which concern transactions connected to sex trafficking and fraud.

  • October 22, 2025

    REIT Inks $7M Settlement Of Ex-CEO's Class Action Claims

    A real estate investment trust has reached a $7.125 million deal to end a proposed investor class action brought by its former CEO alleging its insiders breached their fiduciary duties after the company's common stock was diluted by "disastrous" stock redemption decisions.

  • October 22, 2025

    Kroll Wants FTX Hack Suit Tossed, Arbitrated Or Moved

    Bankruptcy claims agent Kroll Restructuring Administration LLC has asked a Texas federal judge to transfer or sink a proposed class action over a data breach that affected creditors of FTX Trading Ltd., BlockFi Inc. and Genesis Global Holdco LLC, pointing to alleged standing issues and an online arbitration agreement.

  • October 22, 2025

    UBS Urges Justices Not To Revive Retaliation Case Again

    UBS Securities is urging the U.S. Supreme Court not to revive, for a second time, a fired worker's whistleblower retaliation lawsuit, arguing that lower courts should be allowed to consider questions about jury instructions regarding the meaning of "contributing factor" in the Sarbanes-Oxley Act before the high court weighs in.

  • October 22, 2025

    Grocery Outlet Fights Investor Claims Over IT Update Woes

    Grocery Outlet Holding Corp. has asked a California federal court to toss a shareholder's suit accusing it of botching the implementation of an enterprise resource planning system that allegedly caused operational disruptions and financial losses, saying the suit is based on "impermissible fraud by hindsight."

  • October 22, 2025

    Investor Advocates Criticize SEC's New Arbitration Stance

    Two investor advocacy groups are speaking out against a recent U.S. Securities and Exchange Commission decision to allow some newly public companies to adopt mandatory arbitration clauses, arguing that the move undermines shareholder rights and could make the U.S. a less attractive place to invest.

  • October 22, 2025

    FINRA Hits Barclays With $150K Fine For IPO Work

    Barclays Capital Inc. has agreed to pay $150,000 to settle accusations that it violated the Financial Industry Regulatory Authority's conflict of interest rules when serving as an underwriter on a $700 million initial public offering.

Expert Analysis

  • Why EpicentRx Ruling Is A Major Win For Business Certainty

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    The California Supreme Court's recent decision in EpicentRx v. Superior Court removes a significant source of uncertainty that plagued commercial litigation in California by clarifying that forum selection clauses shouldn't be invalidated solely because the selected forum lacks the right to a jury trial, say attorneys at Clark Hill.

  • How Sustainability Reporting Changed In The 1st Half Of 2025

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    Sustainability reporting is evolving rapidly, with fewer S&P 500 companies publishing reports in the first half of 2025 than in the same period last year, suggesting that companies are becoming more selective and intentional about their reporting, say analysts at Orrick.

  • 9th Circ. Finding That NFTs Are Goods Will Change TM Law

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    The Ninth Circuit's recent ruling in Yuga Labs v. Ripps establishes that NFTs have real, commercial value under U.S. federal trademark law, a new legal precedent that may significantly influence intellectual property enforcement and marketplace policies regarding digital assets going forward, say attorneys at Wilson Elser.

  • Series

    Adapting To Private Practice: From Texas AUSA To BigLaw

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    As I learned when I transitioned from an assistant U.S. attorney to a BigLaw partner, the move from government to private practice is not without its hurdles, but it offers immense potential for growth and the opportunity to use highly transferable skills developed in public service, says Jeffery Vaden at Bracewell.

  • Lessons From Liberty Mutual FCPA Declination

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    Liberty Mutual’s recent Foreign Corrupt Practices Act resolution with the U.S. Department of Justice signals that the Trump administration is once again considering such declinations after an enforcement pause, offering some assurances for companies regarding the benefits of voluntary self-disclosure, say attorneys at Paul Weiss.

  • 3 Rulings Show Hurdles To Proving Market Manipulation Fraud

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    Three recent conviction reversals from New York federal courts highlight the challenges that prosecutors face in establishing fraud and market manipulation allegations, suggesting that courts are increasingly reluctant to find criminal liability when novel theories are advanced, say attorneys at WilmerHale.

  • Drafting M&A Docs After Delaware Corp. Law Amendments

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    Attorneys at Greenberg Traurig discuss how the March and June amendments to the Delaware General Corporation Law affect the drafting of corporate and M&A documents, including board resolutions, governing documents, and books and records demands.

  • Advice For 1st-Gen Lawyers Entering The Legal Profession

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    Nikki Hurtado at The Ferraro Law Firm tells her story of being a first-generation lawyer and how others who begin their professional journeys without the benefit of playbooks handed down by relatives can turn this disadvantage into their greatest strength.

  • Untangling 'Debanking' Exec Order And Ensuing Challenges

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    President Donald Trump's recent executive order on the practice of closing or refusing to open accounts for high-risk customers has heightened scrutiny on "debanking," but practical steps can help financial institutions reduce the likelihood of becoming involved in investigations, say attorneys at Winston & Strawn.

  • Patterns And Trends In Publicly Filed Insider Trading Policies

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    An assessment of insider trading policies filed by over 60 issuers reveals a range of common approaches and a few differences with respect to key policy terms, including the parties covered, the scope of prohibited activities and the exceptions to these prohibitions, say attorneys at Debevoise.

  • Series

    Coaching Cheerleading Makes Me A Better Lawyer

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    At first glance, cheerleading and litigation may seem like worlds apart, but both require precision, adaptability, leadership and the ability to stay composed under pressure — all of which have sharpened how I approach my work in the emotionally complex world of mass torts and personal injury, says Rashanda Bruce at Robins Kaplan.

  • How New Texas Law Targets ESG Proxy Advice

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    A recently enacted Texas law represents a major shift in how proxy advisory services are regulated in Texas, particularly when recommendations are based on nonfinancial factors like ESG and DEI, but legal challenges underscore the statute’s broader constitutional and statutory implications, say attorneys at Bracewell.

  • Series

    Law School's Missed Lessons: How To Make A Deal

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    Preparing lawyers for the nuances of a transactional practice is not a strong suit for most law schools, but, in practice, there are six principles that can help young M&A lawyers become seasoned, trusted deal advisers, says Chuck Morton at Venable.

  • 11th Circ. Ruling Shows Federal Question Jurisdiction Limits

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    The Eleventh Circuit's recent decision in AST Science v. Delclaux shows why it is extremely difficult for litigants to maintain a state law cause of action in federal court under Supreme Court precedent, says Paul Avron at Berger Singerman.

  • From Clerkship To Law Firm: 5 Transition Tips For Associates

    Excerpt from Practical Guidance
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    Transitioning from a judicial clerkship to an associate position at a law firm may seem daunting, but by using knowledge gained while clerking, being mindful of key differences and taking advantage of professional development opportunities, these attorneys can flourish in private practice, say attorneys at Lowenstein Sandler.

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