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Securities
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August 13, 2025
FINRA Fines Wells Fargo Over Muni Securities Biz Compliance
Wells Fargo will pay $275,000 to end Financial Industry Regulatory Authority claims that the bank for years lacked a supervisory system designed to ensure that its investment services for municipal entity customers did not require it to register as a municipal adviser.
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August 13, 2025
Semtech Investor Sues Brass Over Copper Goods Sales Drop
The top brass of high-performance semiconductor company Semtech Corp. has been hit with a shareholder derivative suit in California federal court claiming that they misled investors about the performance and sales of the company's products and failed to disclose certain issues that led to the end of the company's partnership with Nvidia.
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August 13, 2025
Paramount Investor Gabelli Sues Redstone, Skydance In Del.
A fund of Paramount Global investor Mario Gabelli sued National Amusements Inc. successor Harbor Lights Entertainment, Shari Redstone and others in Delaware's Court of Chancery on Wednesday, seeking damages tied to the recently closed $8.4 billion Paramount-Skydance Media merger.
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August 13, 2025
Business Groups Fail To Halt Calif. Climate Reporting Rules
The U.S. Chamber of Commerce and other business groups lost a bid to block new California state regulation requiring large companies to publicly disclose their greenhouse gas emissions and climate-related financial risks that they said violated their First Amendment rights, when a federal judge Wednesday denied them preliminary injunction.
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August 13, 2025
Chancery OKs $7.5M Atty Fee In $50M Lutnick Bonus Battle
Class attorneys who secured a $50 million derivative suit settlement fully offsetting a disputed bonus paid in 2021 to former Newmark Group Inc. controller and current Commerce Secretary Howard Lutnick saw their proposed 25% attorney fee cut to 15% by a Delaware vice chancellor on Wednesday.
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August 13, 2025
Cassava Investors Get Class Certified In Alzheimer's Drug Suit
Investors accusing Cassava Sciences Inc. of inflating its stock price with manipulated research data of its Alzheimer's drug can proceed with their claims as a class, with the court finding the suit's named plaintiffs are adequate representatives despite Cassava's claims they were only "out to make a quick buck."
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August 13, 2025
Roomba-Maker Execs Sued Over Post-Amazon Deal Issues
The top brass of iRobot Corp., maker of the Roomba robotic vacuum cleaner, have been hit with a shareholder derivative suit in New York federal court claiming they exaggerated the effectiveness of the company's restructuring plan following the abandonment of a proposed $1.7 billion merger with Amazon.
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August 13, 2025
SEC Settles With Ex-CFO Over $93M Real Estate Scheme
The U.S. Securities and Exchange Commission entered a settlement Wednesday with the former chief financial officer of a Miami real estate development company accused of defrauding investors out of millions, though the agency left it to the court whether to impose monetary penalties.
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August 13, 2025
Investment Co. Adviser Admits His Role In Fraud Scheme
An officer of a purported investment company admitted in federal court Wednesday that he lied about working for a Chicago law firm to help fleece investors out of nearly $1 million with false promises of quick returns on high-yield bank instruments.
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August 13, 2025
SPAC Behind EV Maker Nikola, Shareholders Strike Settlement
Stockholders and board members for the blank-check company that took electric-vehicle maker Nikola public said they reached a $6.3 million deal to end a Delaware Chancery Court lawsuit that accused the SPAC of misleading investors about Nikola's prospects.
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August 13, 2025
KinderCare Faces Investor Suit Over Pre-IPO Abuse Claims
Early education company KinderCare Learning Companies Inc. is facing a proposed shareholder class action accusing it of misleading investors when the company went public in October 2024.
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August 13, 2025
BakerHostetler Hires Cooley Securities Litigation Atty
BakerHostetler has added an experienced litigator to its white collar, investigations and securities enforcement litigation and securities and governance litigation teams in New York, bringing with him more than 25 years of BigLaw experience, including most recently with Cooley LLP.
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August 13, 2025
NC Businessman Nabs Early Exit From Investment Fraud Suit
A businessman accused of helping launder money for a lab owner in an investment fraud scheme had no duty to disclose his dealings with the allegedly sham operation, a North Carolina Business Court judge has ruled in dismissing investors' claims against him.
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August 13, 2025
Calif. Firm Says Pot Co. Co-Owners Stiffed On Buyout Deal
A California firm is suing its former business partners in state court, alleging that they failed to pay up on a partnership withdrawal agreement and still owe more than $280,000 for the firm's 15% share of a cannabis business.
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August 13, 2025
Pa. Attorney Sues To Thaw $1.5M In Frozen Crypto Assets
A Pittsburgh-area attorney says his cryptocurrency assets worth more than $1.5 million across three platforms were improperly frozen, and he asked a Pennsylvania state court to order his accounts unfrozen.
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August 13, 2025
Crypto Casino CEO Charged With $4M Fraud Amid Plea Talks
The founder of a cryptocurrency casino previously arrested on suspicion of defrauding investors out of $4 million and transferring large sums to an online gambling site was formally charged on Wednesday amid ongoing plea talks.
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August 13, 2025
Crypto Co. Bullish Makes Public Debut After Upsized $1B IPO
Venture-backed crypto exchange Bullish made its public debut Wednesday after raising $1.1 billion in its upsized initial public offering, marking the latest in a string of crypto-related companies to dabble in the public markets.
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August 13, 2025
Mass. Loan Biz Morphed Into $7.6M Ponzi Scheme, State Says
A Massachusetts woman turned her family's small auto financing business into a $7.6 million Ponzi scheme, the state's Securities Division alleged in a complaint.
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August 12, 2025
Accountant, Firm Settle SEC's Fintech Fraud Suit For $200K
The U.S. Securities and Exchange Commission has settled claims in New York federal court against a Nigerian accountant and his firm accused of helping the operator of the Tingo fintech businesses conceal fake audit reports that inflated the value of the firms to further the "massive" fintech fraud.
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August 12, 2025
SelectQuote Investor Sues Over Feds' Kickback Probe
Insurance broker SelectQuote Inc. and three of its current and former executives face a proposed investor class action alleging the company kept investors in the dark as it accepted illegal kickbacks for steering Medicare beneficiaries to certain insurers, precipitating False Claims Act allegations from a whistleblower and subsequently the government.
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August 12, 2025
Goldman Sachs Objector's $517K Fee Bid Slashed To $50K
A Delaware vice chancellor has slashed an objector's counsel fee and expense request from $517,000 to $50,000 as part of a settlement in a derivative suit against Goldman Sachs directors, and awarded the plaintiffs their sought-after $612,500 in fees.
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August 12, 2025
Solar Aircraft Co.'s Top Brass Hit With Investor Fraud Suit
A majority shareholder of solar aircraft company Skydweller Aero Inc. has filed suit against the top brass of the U.S.-Spanish aerospace venture, claiming the CEO and others misled the shareholder about the company's "dire" financial condition and denied it access to critical financial information, obstructing its ability to evaluate its investment or exit its equity position.
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August 12, 2025
Bank Groups Call For Closing Stablecoin Law's 'Loopholes'
The American Bankers Association and more than 50 state counterparts on Tuesday urged Senate lawmakers to close several "loopholes" in a recently enacted federal law to regulate stablecoins with recommended additions to a separate proposal to regulate crypto markets.
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August 12, 2025
Terraform Founder Cops To $40B Crypto Fraud Scheme
The founder and former CEO of Terraform Labs on Tuesday admitted to perpetrating a multibillion-dollar fraud by deceiving investors about its decentralized finance-based ecosystem of crypto products, a scheme that wiped out $40 billion in market value when it collapsed.
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August 12, 2025
Airbnb Wants Conservative Shareholder Proposal Suit Tossed
Airbnb has asked a Delaware federal court to toss a suit alleging the vacation rental company wrongfully excluded conservative shareholders' proposals from its 2025 proxy materials, arguing they haven't alleged anyone at the company knew about the proposals at all.
Expert Analysis
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.
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Texas Targets Del. Primacy With Trio Of New Corporate Laws
Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
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How AI May Reshape The Future Of Adjudication
As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
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When Legal Advocacy Crosses The Line Into Incivility
As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.
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Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet
Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.
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2 NY Rulings May Stem Foreign Co. Derivative Suits
In recent decades, shareholders have challenged the internal affairs doctrine by bringing a series of derivative actions in New York state court on behalf of foreign corporations, but the New York Court of Appeals' recent rulings in Ezrasons v. Rudd and Haussmann v. Baumann should slow that trend, say attorneys at Cleary.
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FCPA Enforcement Is Here To Stay, But It May Look Different
After a monthslong enforcement pause, the U.S. Department of Justice’s new Foreign Corrupt Practices Act guidelines fundamentally shift prosecutorial discretion and potentially reduce investigatory burdens for organizations, but open questions remain, so companies should continue to exercise caution, say attorneys at Simpson Thacher.
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Ore. Coinbase Case Charts New Path For State Crypto Suits
Oregon's recent lawsuit against Coinbase serves as a reminder for the crypto industry that not all states will simply defer to the U.S. Securities and Exchange Commission's evolving stance on crypto-assets, highlighting why stakeholders should proactively assess the risks posed by state-level litigation and develop strategies to address distinct challenges, say attorneys at Steptoe.
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Series
Volunteering At Schools Makes Me A Better Lawyer
Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.
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Fed's Crypto Guidance Yank Could Drive Innovation
The Federal Reserve Board's recent withdrawal of guidance letters brings regulatory consistency and broadens banks' ability to innovate in the crypto-asset space, but key distinctions remain between the Fed's policy on crypto liquidity and that of the other banking regulators, says Dan Hartman at Nutter.
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GM Case Highlights New Trends In AI-Related Securities Suits
Bold company statements about artificial intelligence have resulted in a rise in AI-related securities litigation, and a recent Michigan federal court decision in In Re: General Motors Co. Securities Litigation illustrates how courts are analyzing these AI-based claims and applying traditional securities concepts to new technologies, say attorneys at Cooley.
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Attacks On Judicial Independence Tend To Manifest In 3 Ways
Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.
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A Look At Texas Corp. Law Changes Aimed At Dethroning Del.
Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.
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OCC's Digital Embrace Delivers Risk, Opportunity For Banks
As the Office of the Comptroller of the Currency continues to release and seek more information on banks' participation in the crypto-asset arena, institutions may see greater opportunity to pursue digital asset and custody services, but must simultaneously educate themselves on transformations occurring throughout the industry, says Kirstin Kanski at Spencer Fane.
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Remediation Still Reigns Despite DOJ's White Collar Shake-Up
Though the U.S. Department of Justice’s recently announced corporate enforcement policy changes adopt a softer tone acknowledging the risks of overregulation, the DOJ has not shifted its compliance and remediation expectations, which remain key to more favorable resolutions, say Jonny Frank, Michele Edwards and Chris Hoyle at StoneTurn.