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Securities
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October 24, 2025
Crypto.com Joins Wave Of Crypto Trust Charter Bids
Digital asset platform Crypto.com said Friday that it has applied for a national trust charter with the Office of the Comptroller of the Currency to boost its custody services, becoming the latest crypto-focused firm to approach the OCC.
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October 24, 2025
Texas Drilling Co. Sued In Chancery Over Record Access
A stockholder-director of a Texas-based drilling company has sued in the Delaware Chancery Court to seek documents, alleging its president unilaterally and unlawfully shut down operations and refused to provide paperwork about the winding-up process.
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October 24, 2025
Avalara Investors Fight Stay In $8.4B Buyout Dispute
Shareholders of tax software company Avalara are fighting a motion by the company in Washington federal court to stay litigation accusing it of misleading investors ahead of an $8.4 billion deal to take the company private.
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October 24, 2025
Investors Push To Find Crypto Firm Liable In Fraud Case
Investors alleging their cousin fraudulently talked them into investing in a cryptocurrency firm have asked a Michigan federal judge to grant them a partial early win and find the firm liable for selling unregistered securities to the public.
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October 24, 2025
Tricida Investors Win OK Of $14.2M Deal Over Kidney Drug
A California federal judge on Thursday granted final approval to a $14.2 million settlement that ends a class action against Tricida Inc. founder Gerrit Klaerner claiming he and the company misled investors on the approval chances for their new kidney disease drug, including nearly $4 million for plaintiffs' counsel.
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October 24, 2025
TeamSpeak Directors Urge Delay For Chancery Fines
Two former U.K. directors of voided online gaming chat venture TeamSpeak urged a Delaware senior magistrate Friday to keep on hold a $1,000 per day penalty and other sanctions imposed in a stockholder dispute over the company's disclosures and compliance with record demands.
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October 24, 2025
Co. Tied To Alleged Long Con Can't Skirt Ex-NFL Player's Suit
A professional networking organization cannot sidestep a lawsuit by retired NFL player Mike Rucker and his wife claiming they were swindled by their longtime financial adviser, a state court judge ruled, finding the complaint fairly traces the couple's financial harm to the company.
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October 24, 2025
Shutdown Delays Virtu's Bid To End SEC Suit
The U.S. Securities and Exchange Commission on Friday told a New York federal judge a settlement with Virtu Financial Inc. that was on the cusp of approval would be delayed because of the government shutdown.
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October 24, 2025
Robinhood Calls Mass. Enforcers' Kalshi Suit A 'Threat'
Investment platform Robinhood told a federal judge it is entitled to pursue a declaratory judgment to avert actual and potential harm caused by a Massachusetts regulator's separate lawsuit against predictions market KalshiEX.
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October 23, 2025
EV-Maker Rivian Will Pay $250M To End Investors' Fraud Suit
Rivian Automotive Inc. investors asked a California federal judge Thursday to greenlight a $250 million settlement resolving their claims that the company underpriced its electric vehicles and misrepresented its profitability ahead of a blockbuster 2021 initial public offering, just one day before a summary judgment hearing.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
Expert Analysis
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Series
Coaching Cheerleading Makes Me A Better Lawyer
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.
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How New Texas Law Targets ESG Proxy Advice
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.
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Series
Law School's Missed Lessons: How To Make A Deal
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.
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11th Circ. Ruling Shows Federal Question Jurisdiction Limits
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.
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From Clerkship To Law Firm: 5 Transition Tips For Associates
Excerpt from Practical Guidance
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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Associates Can Earn Credibility By Investing In Relationships
As the class of 2025 prepares to join law firms this fall, new associates must adapt to office dynamics and establish credible reputations — which require quiet, consistent relationship-building skills as much as legal acumen, says Kyle Forges at Bast Amron.
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How The Genius Act May Aid In Fight Against 'Pig Butchering'
The recently enacted Genius Act represents a watershed moment in the fight against crypto fraud, providing new tools to freeze and recover funds that are lost to scams such as "pig butchering" schemes executed from scam factories abroad, but there are implementation challenges to watch, say attorneys at Treanor Devlin.
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Traditional Venue Theories May Not Encompass Crypto Fraud
A New York federal court's recent decision in U.S. v. Eisenberg, overturning a jury verdict against a crypto trader on venue deficiencies and insufficient evidence, highlights the challenges of prosecutions in the decentralized finance space, and will no doubt curtail law enforcement's often overly expansive view of jurisdiction and venue, say attorneys at Venable.
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A Shifting Trend In FDA Form 483 Disclosure Obligations
A New York federal court's Checkpoint Therapeutics decision extends a recent streak of dismissals of securities class actions alleging that pharmaceutical companies failed to disclose U.S. Food and Drug Administration Form 483 inspection reports, providing critical guidance for companies during the FDA approval process, say attorneys at Alston & Bird.
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Filing Clarifies FTC, DOJ's Passive Investment Stance
The antitrust agencies' statement of interest filed in Texas v. Blackrock clarifies that certain forms of corporate governance engagement are permissible under the "solely for investment" exemption, a move that offers guidance for passive investors but also signals new scrutiny of coordinated engagement, say attorneys at Stinson.
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Lessons From 7th Circ.'s Deleted Chat Sanctions Ruling
The Seventh Circuit’s recent decision in Pable v. Chicago Transit Authority, affirming the dismissal of an ex-employee’s retaliation claims, highlights the importance of properly handling the preservation of ephemeral messages and clarifies key sanctions issues, says Philip Favro at Favro Law.
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Genius Act Sets Stablecoin Standards — Without Regulation E
While the Genius Act expressly requires payment stablecoin issuers to be treated as financial institutions for purposes of the Bank Secrecy Act, it is notably silent as to whether they are to be treated as such under the Electronic Fund Transfer Act, as implemented by Regulation E, says Tom Witherspoon at Stinson.
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Assessing Federal Securities Class Action Stats In '25 So Far
The settlement amount as a percentage of damages in securities class actions has continued to decline in the first half of 2025, a trend that may be important for assessing exposure and risk in future securities litigation, say analysts at Analysis Group.
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NY Tax Talk: ALJ Vacancy, Online Sales, Budget
Among the most notable developments in New York tax law last quarter, an administrative law judge vacancy continued affecting taxpayers, a state court decision tested the scope of the Interstate Income Act, and Gov. Kathy Hochul signed the 2025-2026 fiscal budget containing key tax-related provisions, say attorneys at Eversheds Sutherland.
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Series
Quilting Makes Me A Better Lawyer
Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham.