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Securities
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September 25, 2025
Big Banks Beat Yearslong Libor-Rigging Claims In NY
A New York federal judge Thursday disposed of the remaining claims in long-running multidistrict litigation accusing Bank of America, Merrill Lynch and more than a dozen other large banks of Libor manipulation.
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September 25, 2025
'Blessings Thru Crypto' Couple Must Pay $6.8M In CFTC Case
The U.S. Commodity Futures Trading Commission on Thursday announced that two Tennessee residents have been ordered to pay over $6.8 million to end the commission's claims they defrauded more than 100 people with a multimillion-dollar commodity pool.
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September 25, 2025
Judge Affirms Fla. Studio Didn't Register Movie Securities
A Florida federal judge affirmed a ruling that a movie studio company sold $1.2 million in unregistered securities purportedly using blockchain technology to license motion picture rights, saying he wasn't convinced the company qualified for an exemption.
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September 25, 2025
Atkins Hints At Flexible Reporting Deadlines For Public Cos.
With the U.S. Securities and Exchange Commission preparing to seek public feedback on President Donald Trump's proposal that public companies be allowed to report their financial results only twice a year, agency Chair Paul Atkins suggested Thursday that the SEC may not take a "one-size-fits-all" approach.
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September 25, 2025
Manhattan Associates Brass Face Suit Over Biz Strategy Shift
Directors and officers of enterprise software firm Manhattan Associates were hit with a shareholder derivative suit in Georgia federal court from an investor who claimed that the company's shift from onsite technology services to cloud-based offerings was a business disaster, wiping out billions in market value in late 2024 and early 2025.
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September 25, 2025
Imprisoned Pearl Token Founder Hit With Default In SEC Suit
The incarcerated founder of an unregistered crypto offering known as Pearl tokens has been barred from issuing, offering or selling securities after failing to respond to parallel U.S. Securities and Exchange Commission claims.
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September 25, 2025
Ex-FTE CEO Gets 12 Years For $13.6M Accounting Fraud
The former chairman and CEO of FTE Networks Inc. on Thursday was sentenced to 12 years in prison for a multifaceted $13.6 million ploy to conceal the telecommunications and real estate company's shaky financial condition and embezzle company funds.
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September 25, 2025
Disney Shareholders Demand Docs Over Kimmel Suspension
A group of Disney shareholders is demanding to inspect various company books and records related to the decision to suspend "Jimmy Kimmel Live!," saying the company may have put "improper political or affiliate considerations" over stockholder interests.
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September 25, 2025
SEC's $1.2M Deal In EB-5 Fraud Case Gets Judge's OK
The U.S. Securities and Exchange Commission announced that a Nevada federal court has ordered a real estate developer and one of her companies to pay over $1.2 million to settle the agency's claims that they used $10 million raised from overseas investors hoping to immigrate to the U.S. to instead pay down an unrelated project loan.
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September 25, 2025
Boeing Asks Chancery To Ground 737 Max Derivative Suit
Boeing Co. wants the Delaware Chancery Court to throw out a derivative lawsuit that accuses the company's leadership of ignoring safety risks in the wake of a January 2024 incident in which a door plug flew off one of its 737 Max planes.
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September 25, 2025
AmTrust Investor Suits Fall Outside Excess Policy, Court Says
A Liberty Mutual unit that provided excess directors and officers coverage to AmTrust Financial Services Inc. owed no coverage for shareholder actions over the company's valuation of life settlement contracts and other accounting matters, a Delaware federal court ruled, finding the claims fell within an earlier coverage tower.
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September 25, 2025
Bitcoin Miner Investors Win Class Cert. In Suit Over Acquisition
Investors in energy company-turned-bitcoin miner CleanSpark Inc. have gotten certification for a class of those allegedly harmed by the company's concealment of unfavorable details about a mining company it acquired and misrepresentations about the timeline for expanding the acquisition's power capacity.
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September 25, 2025
Accounting Firm Drops Case Over PCAOB's In-House Courts
A lawsuit challenging the constitutionality of the Public Company Accounting Oversight Board's in-house disciplinary process appears to have come to an end on Thursday after the auditing firm that filed it agreed to settle with the board earlier this week.
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September 25, 2025
Flagstar Seeks Instant Win In Ex-Live Well VP Fraud Case
Flagstar Bank has urged a Michigan federal judge to grant it an early win against a former executive of the now-bankrupt Live Well for his role in a scheme to defraud lenders by inflating the value of bonds, saying because the executive already pled guilty to securities fraud, he cannot now deny liability in the bank's civil case.
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September 25, 2025
Trump SPAC Ex-CEO Wins $1.5M Legal Fee Advance In Del.
Saying the court was wary of second-guessing attorney judgment in legal fee advancement billings, a Delaware magistrate in chancery has rejected most challenges to $1.5 million in fee claims by a former CEO of Donald Trump-tied blank check company Digital World Acquisition Corp.
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September 24, 2025
How CME Used History To Beat A $2B Trading Rights Claim
As CME Group faced a $2 billion accusation that its data center trampled on some members' long-held trading floor rights, it knew convincing jurors otherwise meant trusting they'd broaden their perspective beyond a simple comparison to see the traders' dispute was not with the exchange but instead an evolving economy.
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September 24, 2025
AML Software Sues Athena Bitcoin Over Source Code Theft
AML Software has filed a copyright infringement suit against ATM operator Athena Bitcoin for allegedly misappropriating its proprietary bitcoin ATM source code without authorization.
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September 24, 2025
SEC Gets $7M Default Insider Trading Win Against UK Trader
A Manhattan federal judge on Wednesday ordered a British-Lebanese trader to pay over $7.7 million, stemming from the U.S. Securities and Exchange Commission's insider trading allegations, months after the defendant avoided extradition from the U.K. on parallel criminal charges.
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September 24, 2025
Texas Banker Says Co.'s $30M Fraud Suit Must Be Arbitrated
A South African company's lawsuit accusing a Texas family, a wealth manager and Frost Bank of orchestrating a $30 million embezzlement and money laundering scheme belongs in arbitration, the defendants have told a Fort Worth federal judge.
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September 24, 2025
UnitedHealth Fights Investor Suit Over DOJ's Merger Probe
UnitedHealth and its executives have asked a Minnesota federal judge to toss a proposed securities class action accusing it of, among many things, not disclosing that the U.S. Department of Justice had reopened an antitrust investigation into the health insurer, saying the complaint consists of unsupported "scattershot allegations."
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September 24, 2025
Binance Founder Not Properly Served In Terror Case: Judge
Victims of the October 2023 attack in Israel suing Binance for allegedly abetting the attack have been denied permission to serve the cryptocurrency exchange's founder by alternative means, after a D.C. federal judge ruled that their "relatively minimal effort" to serve him via conventional means wasn't enough.
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September 24, 2025
Equity Trader Gets 2 Months For Insider Trading
A Connecticut-based former head of equities trading for an investment firm who copped to insider trading in June has been sentenced to two months in prison and ordered to pay more than $331,000.
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September 24, 2025
Skechers Investor Seeks Chancery Appraisal Of $9.4B Deal
A Skechers shareholder is asking the Delaware Chancery Court for an appraisal to determine the fairness of the $63-per-share buyout price of nearly 700,000 shares in the footwear company after its $9.4 billion take-private deal with 3G Capital.
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September 24, 2025
FINRA To Nix Minimum Equity Requirement For Day Traders
The Financial Industry Regulatory Authority announced Wednesday that its board approved changes to its rules for so-called pattern day trading that would remove a minimum equity requirement for such traders.
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September 24, 2025
Judge Denies Tron Founder's Bid To Block Bloomberg Report
A Delaware federal judge declined to direct Bloomberg LP to remove reporting about Justin Sun's crypto holdings for now in an opinion that said he remains unconvinced the media outlet made any promise of confidentiality to the Tron founder.
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.