Securities

  • March 27, 2026

    SEC Shutters Case Against Bankrupt Fatburger Parent

    The U.S. Securities and Exchange Commission announced Friday that it is walking away from a case accusing restaurant franchisor FAT Brands of running an illegal $27 million personal loan scheme to fuel its former CEO's lavish lifestyle as the public company foundered.

  • March 27, 2026

    Nutrition Co. Execs Hid Stockpiling, Competition, Suit Says

    The top brass of protein-shake maker BellRing Brands Inc. face a shareholder derivative suit in Delaware federal court, alleging they misled investors about the sales growth of "convenient nutrition" products like energy bars and protein powders, causing the company's stock price to fall when the truth was revealed.

  • March 27, 2026

    Del. Justices Won't Revive Hedge Fund Insider Trading Case

    The Delaware Supreme Court upheld a ruling Friday in favor of hedge fund Armistice Capital, backing the dismissal of a lawsuit accusing the firm of insider trading on information it had obtained in its position as a minority stakeholder of a pharmaceutical company.

  • March 27, 2026

    Kalshi Sued By Wash. AG In Latest 'Illegal Gambling' Case

    The Washington state attorney general accused Kalshi Friday of operating an illegal online betting platform under the guise of a prediction market, joining a growing number of states that have taken court action against the company over alleged gambling law violations.

  • March 27, 2026

    Credit Suisse Gets Bondholders' NJ RICO Claim Axed

    An investor lawsuit accusing Credit Suisse of concealing its financial strains leading up to its takeover by UBS AG was trimmed by a New York federal judge, who found the suit failed to support its New Jersey racketeering claim.

  • March 27, 2026

    Biopharma's Brass Hid Anxiety Drug Trial Risks, Investor Says

    Vistagen Therapeutics' current and former top brass have been hit with a derivative shareholder suit in California federal court alleging they overstated its clinical trial for a novel, anti-anxiety drug while hiding unpredictable placebo responses and other known risks, before the phase ultimately failed, causing a stock price collapse. 

  • March 27, 2026

    Biogen Beats Investor Suit Over Dozens Of Drug Claims

    Biogen Inc. and four of its executives escaped a stock drop suit Friday after a Massachusetts federal judge ruled that none of the nearly five dozen statements challenged by investors suggested that the company intentionally misled people buying its stock.

  • March 27, 2026

    Norwegian Cruise Line, Elliott Cut Deal To Revamp Board

    Norwegian Cruise Line said Friday it has reached an agreement with Elliott Investment Management LP for a board shake-up, after the activist investor revealed a more than 10% stake in the cruise operator last month.

  • March 27, 2026

    REIT Investor Drops Suit Over $2.3B Deal Disclosures

    An Alexander & Baldwin investor has dropped claims that the commercial real estate investment trust obscured its connections to Blackstone Real Estate in securities filings before a proposed $2.3 billion take-private deal, saying U.S. Securities and Exchange Commission filings last month moot the case.

  • March 27, 2026

    Weak Data Dooms Brookfield 401(k) Fund Suit, Judge Says

    An Ohio federal judge tossed a former Brookfield Asset Management employee's suit claiming the company held on to lackluster investment funds in its retirement plan that cost workers millions in savings, ruling the underperformance he identified wasn't significant enough to carry the case.

  • March 27, 2026

    BigLaw Races To Capture Expanding Fund Finance Market

    Debt financing work at the fund level has long been dominated on the lender side by attorneys from Cadwalader Wickersham & Taft LLP, Haynes Boone and Mayer Brown LLP, but other firms are increasingly crafting formal practices and poaching fund finance stars from the more established players.

  • March 26, 2026

    Smith & Wesson Brass Beat Catholic Investors' Suit, For Now

    A Nevada federal judge dismissed a shareholder derivative suit brought by groups of Catholic sisters against members of Smith & Wesson's board and senior managers over the firearm-maker's AR-15 rifles marketing, finding the plaintiffs hadn't shown it would have been futile to demand the board pursue such legal action.

  • March 26, 2026

    Southwest Can't Fly Past Workers' Retirement Plan Suit

    Southwest Airlines Co. retirement plan beneficiaries pleaded sufficient facts to state claims for breach of fiduciary duty and for failure to monitor in alleging that the company and its executives failed to remove an underperforming fund that lagged its benchmark, a Texas federal judge ruled this week.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

Expert Analysis

  • Opinion

    The Case For Emulating, Not Dividing, The Ninth Circuit

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    Champions for improved judicial administration should reject the unfounded criticisms driving recent Senate proposals to divide the Ninth Circuit and instead seek to replicate the court's unique strengths and successes, says Ninth Circuit Judge J. Clifford Wallace.

  • Banking M&A Outlook Reflects Favorable Regulatory Climate

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    The banking mergers and acquisitions environment is starting 2026 with a rare alignment of favorable market conditions and a more permissive regulatory atmosphere, creating a clear window for banks to pursue transformative combinations and shape the competitive landscape, say attorneys at Reed Smith.

  • ERISA Litigation Trends To Watch With 2025 In The Rearview

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    There were significant developments in Employee Retirement Income Security Act litigation in 2025, including plaintiffs pushing the bounds of sponsor and fiduciary liability and defendants scoring district court wins, and although the types of claims might change, ERISA litigation will likely be just as active in 2026, say attorneys at Groom Law.

  • 2025's Defining AI Securities Litigation

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    Three securities litigation decisions from 2025 — involving General Motors, GitLab and Tesla — offer a preview of how courts will assess artificial intelligence-related disclosures, as themes such as heightened regulatory scrutiny and risk surrounding technical claims are already taking shape for the coming year, say attorneys at Cooley.

  • Series

    Mass. Banking Brief: All The Notable Legal Updates In Q4

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    Among the most significant developments on the banking regulation front in Massachusetts last quarter, Attorney General Andrea Joy Campbell announced her bid for reelection, and the state Division of Banks continued its fintech focus by finalizing rules implementing a new money transmitter law, say attorneys at Nutter.

  • Series

    Muay Thai Makes Me A Better Lawyer

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    Muay Thai kickboxing has taught me that in order to win, one must stick to one's game plan and adapt under pressure, just as when facing challenges by opposing counsel or judges, says Mark Schork at Feldman Shepherd.

  • Series

    Law School's Missed Lessons: Intentional Career-Building

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    A successful legal career is built through intention: understanding expectations, assessing strengths honestly and proactively seeking opportunities to grow and cultivating relationships that support your development, say Erika Drous and Hillary Mann at Morrison Foerster.

  • How Shareholder Activism Fared In 2025

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    2025 was a turbulent yet transformative year in shareholder activism, and there are several key takeaways to help companies prepare for a 2026 that is shaping up to be even more lively, including increased focus on retail investors and the use of social media as a tool, say attorneys at Sidley.

  • Justices' Separation-Of-Powers Revamp May Hit States Next

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    The U.S. Supreme Court's 2024 decision in U.S. Securities and Exchange Commission v. Jarkesy quietly laid the groundwork for an expansion of the court's separation-of-powers agenda beyond the federal level, but regulated parties and state and local governments alike can act now to anticipate Jarkesy's eventual wider application, say attorneys at Troutman.

  • Preparing For Congressional Investigations In A Midterm Year

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    2026 will be a consequential year for congressional oversight as the upcoming midterm elections may yield bolder investigations and more aggressive state attorneys general coalitions, so companies should consider adopting risk management measures to get ahead of potential changes, say attorneys at Morgan Lewis.

  • Key Trends Shaping ESG And Sustainability Law In 2026

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    2025 saw a chaotic regulatory landscape and novel litigation around environmental, social and governance issues and sustainability — and 2026, while perhaps more predictable, will likely be no less challenging, with more lawsuits and a regulatory tug-of-war complicating compliance for global companies, say attorneys at Crowell.

  • How Bank M&A Prospects Brightened In 2025

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    Even with less-than-ideal macroeconomic conditions in 2025, federal banking regulators' shift away from procedural concerns to focus more on core financial risks boosted M&A in several key ways, including shorter review timelines and increased interest in de novo charters, say attorneys at Arnold & Porter.

  • 3 Securities Litigation Trends To Watch In 2026

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    Pending federal appellate cases suggest that 2026 will be a significant year for securities litigation, with long-standing debates about class certification, new questions about the risks and value of artificial intelligence features, and private plaintiffs' growing role in cryptocurrency enforcement likely to be major themes, say attorneys at Willkie.

  • 4 Developments That Defined The 2025 Ethics Landscape

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    The legal profession spent 2025 at the edge of its ethical comfort zone as courts, firms and regulators confronted how fast-moving technologies and new business models collide with long-standing professional duties, signaling that the profession is entering a period of sustained disruption that will continue into 2026, says Hilary Gerzhoy at HWG Law.

  • Navigating AI In The Legal Industry

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    As artificial intelligence becomes an increasingly integral part of legal practice, Law360 guest commentary this year examined evolving ethical obligations, how the plaintiffs bar is using AI to level the playing field against corporate defense teams, and the attendant risks of adoption.

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