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Securities
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March 30, 2026
SEC Workers Cite Concern Job Cuts Left Knowledge Gaps
The U.S. Securities and Exchange Commission's headcount hit a decade low in fiscal year 2025, and some who remain are concerned that key institutional knowledge may have been lost, according to a new report by the U.S. Government Accountability Office.
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March 30, 2026
TD Bank Moves Funds' Suits Over Failed First Horizon Deal
Toronto-based TD Bank has moved to New Jersey federal court two suits from hedge funds that invested in First Horizon Corp. alleging TD Bank is liable for their losses due to statements it made about the likelihood of regulatory approval of the banks' merger, arguing the suits both raise federal questions that belong in federal court.
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March 30, 2026
Full 11th Circ. Asked To Review SEC's $1M Penny Stock Award
Spartan Securities and other defendants sued by the U.S. Securities and Exchange Commission over an alleged penny stock fraud petitioned the Eleventh Circuit Monday for a full court rehearing of a panel decision affirming a $1 million judgment in favor of the SEC.
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March 30, 2026
Catching Up With Delaware's Chancery Court
The Delaware Chancery Court's docket this past week featured disputes involving globally recognized companies, high-dollar contract fights, revived claims from the state's high court and the resolution of a closely watched de-SPAC case.
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March 30, 2026
$2.5B Stock Deal Shorting Claims Receive Class Treatment
An Illinois federal judge has decided to give class treatment to a West Monroe Partners employee's claim that the consulting firm shortchanged workers by at least $50 million when it bought up their stock.
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March 30, 2026
AIG Unit Owes Law Firm For Defending CEO, Fla. Jury Told
A lawyer told Florida jurors in a federal trial Monday that an AIG unit owes him more than $1 million in costs for defending a sports memorabilia company's former CEO against securities violations, saying the insurer broke a contract to pay his firm for legal services.
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March 30, 2026
Investment Firm Fined For Ads Pitching Copycat Portfolios
An online investment advisory firm that offered clients the chance to copy the trading activity of well-known business and political figures will pay a $500,000 administrative fine and restitution to resolve a complaint that Massachusetts securities regulators brought alleging misleading social media ads.
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March 30, 2026
Chancellor Rejects Musk Recusal Bid But Transfers Tesla Suits
The top judge of the Delaware Chancery Court on Monday rejected Elon Musk's bid to force her off three high-profile cases involving stockholders and Tesla, but reassigned the litigation anyway, citing concerns that intense public attention could undermine confidence in the proceedings.
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March 30, 2026
Exchanges Are First Line In CFTC Prediction Market Policing
As the U.S. Commodity Futures Trading Commission insists it will be the primary cop for the growing expanse of prediction markets, experts said the agency is signaling that its first line of defense will be the internal enforcement programs of registrants like Kalshi.
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March 30, 2026
Eagle Pharma To Pay $9.5M To End Channel Stuffing Claims
Eagle Pharmaceuticals Inc. and its former executives have agreed to pay $9.5 million to settle investor claims that they carried out a fraudulent "channel stuffing" scheme to inflate the revenue of one of the company's brand-name medications.
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March 30, 2026
Deloitte Must Face Suit Over Philanthropists' Tax Bill
Deloitte lost its bid to avoid a June trial in a dispute over the accounting firm's handling of a $77 million share repurchase and planned charitable transfer that allegedly led to an unexpected tax bill for Boston-area developers and philanthropists William and Joyce Cummings.
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March 30, 2026
Justices Turn Away Case Over SEC Receivership Powers
The U.S. Supreme Court on Monday rejected a plea by a Dallas real estate developer to hear a challenge to the U.S. Securities and Exchange Commission's ability to seize the assets of alleged fraudsters before a trial can take place.
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March 30, 2026
DOL Rule Would Expand Alternatives In Retirement Plans
The U.S. Department of Labor unveiled a proposal Monday to expand access to alternative investments, like private equity and digital assets, in retirement plans by establishing a safe harbor process for fiduciaries to follow when deciding where retirees' savings go.
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March 27, 2026
Lockheed's 'DIY' 401(k) Funds Lagged Rivals, Court Told
An attorney for Lockheed Martin employees blasted the aerospace giant's in-house retirement investment funds in Maryland federal court Friday, arguing that it failed in its fiduciary duty to change course when its investment arm kept fees high and consistently underperformed a market full of comparable options.
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March 27, 2026
BofA Will Pay $72.5M In Deal Ending Epstein Ties Allegations
Bank of America agreed to pay $72.5 million to put to rest a proposed class action alleging the bank helped facilitate Jeffrey Epstein's sex crimes, according to a motion for preliminary approval of the deal filed in New York federal court Friday.
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March 27, 2026
Elizabeth Holmes Gets 11-Year Prison Sentence Cut By A Year
A California federal judge has shaved off a year from convicted ex-Theranos CEO Elizabeth Holmes' 11-year-and-three-month prison sentence for securities fraud due to recent sentencing guideline amendments, reducing her time behind bars by one year, instead of the two years she requested, amid objections by prosecutors.
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March 27, 2026
Jailed Energy Trader Won't Fight $7.7M Judgment
An energy trader who reported to prison this year told a Texas federal court Friday he does not oppose entry of a more than $7.7 million civil judgment in favor of his former employer, as long as it's credited against the restitution he was ordered to pay by the federal government in separate proceedings.
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March 27, 2026
Student Fleeced Pals' Families With $7.8M Fraud, SEC Says
A Tulsa, Oklahoma, man has agreed to settle U.S. Securities and Exchange Commission claims that he defrauded investors out of $7.8 million in connection with two investment funds he launched as a college student.
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March 27, 2026
LuxUrban Investors Seek 1st Green Light For $3M Settlement
Investors in LuxUrban Hotels Inc. seek an initial nod for their $3 million deal to end claims the bankrupt hotel-leasing business mischaracterized its portfolio growth and its financial results, leading to a trading price crash after it was revealed it lied about inking a certain Manhattan lease.
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March 27, 2026
Kansas City Fed Pressed For Kraken Account Approval Terms
The ranking member of the House Financial Services Committee asked the Federal Reserve Bank of Kansas City to share more information about its decision to grant crypto firm Kraken Financial access to Fed payment rails, including what limits it imposed on the new type of tailored master account.
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March 27, 2026
Split Fed Gives Morgan Stanley OK For European Arm Reorg
The Federal Reserve has narrowly granted its permission for Morgan Stanley to turn its European Union banking arm into a unit of its insured U.S. bank, a move that sharply divided the central bank's board amid concerns about straining the federal bank safety net.
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March 27, 2026
2nd Circ. Tosses $16B YPF Judgment Against Argentina
A panel of the Second Circuit Court of Appeals reversed a New York judge's $16 billion judgment against Argentina arising from its nationalization of the country's largest oil and gas exploration company, saying Friday Argentine law doesn't obligate the country to comply with YPF SA's corporate bylaws.
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March 27, 2026
Vital Farms' New Software Cracked Its Revenue, Suit Says
Pasture-raised eggs producer Vital Farms was hit with a proposed shareholder class action Friday in Texas federal court alleging the company misled investors about a software system rollout that disrupted shipments to retailers and triggered a stock drop when its impact was revealed.
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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.
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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.
Expert Analysis
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4 Ways GCs Can Manage Growing Service Of Process Volume
As automation and arbitration increase the volume of legal filings, in-house counsel must build scalable service of process systems that strengthen corporate governance and manage risk in real time, says Paul Mathews at Corporation Service Co.
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Series
NY Banking Brief: All The Notable Legal Updates In Q4
In the fourth quarter of last year, New York state enacted several developments that affect financial services regulation and business, cementing upcoming compliance obligations including cybersecurity best practices and retail stores' cash management, says Chris Bonner at Barclay Damon.
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SDNY Atty Signals Return To Private Fund Valuation Scrutiny
Recent remarks by the U.S. Attorney for the Southern District of New York — hinting that regulators are renewing their focus on private fund advisers who overvalue portfolio assets to drive up investor fees — should prompt firms to review their valuation methodologies and address potential conflicts of interest now, say attorneys at Debevoise.
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IP Appellate Decisions Show 4 Shifts In 2025
In 2025, intellectual property decisions issued by the Ninth, D.C., and Federal Circuits trended toward tightening doctrinal boundaries, whether to account for technological developments in existing legal regimes, or to refine areas with some ambiguity, says Nate Sabri at Perkins Coie.
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Series
The Law Firm Merger Diaries: Forming Measurable Ties
Relationship-building should begin as early as possible in a law firm merger, as intentional pathways to bringing people together drive collaboration, positive client response, engagements and growth, says Amie Colby at Troutman.
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Del. Dispatch: What Tesla Decision Means For Exec Comp
The recent Delaware Supreme Court decision granting Tesla CEO Elon Musk his full pay, now valued at $139 billion, following a yearslong battle appears to reject the view that supersized compensation may be inherently unfair to a corporation and its shareholders, say attorneys at Fried Frank.
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Wis. Sanctions Order May Shake Up Securities Class Actions
A Wisconsin federal court’s recent decision to impose sanctions on a plaintiffs law firm for filing a frivolous Private Securities Litigation Reform Act complaint in Toft v. Harbor Diversified may cause both plaintiffs and defendants law firms to reconsider certain customary practices in securities class actions, says Jonathan Richman at Brown Rudnick.
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5 E-Discovery Predictions For 2026 And Beyond
2026 will likely be shaped by issues ranging from artificial intelligence regulatory turbulence to potential evidence rule changes, and e-discovery professionals will need to understand how to effectively guide the responsible and defensible adoption of emerging tools, while also ensuring effective safeguards, say attorneys at Littler.
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Where States Jumped In When SEC Stepped Back In 2025
The state regulators that picked up the slack when the U.S. Securities and Exchange Commission scaled back enforcement last year should not be underestimated as they continue to aggressively police areas where the SEC has lost interest and probe industries where SEC leadership has actively declined to intervene, say attorneys at Morgan Lewis.
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What's On Deck In Tribal Nations' Prediction Markets Litigation
Native American tribes' response to the expansion of sports-based prediction markets enters a decisive phase this year, with appellate courts positioned to address whether federal commodities law permits nationwide offering of sports-based event contracts free from state and tribal gaming regulation, say attorneys at Holland & Knight.
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Reviewing Historical And Recent NYDFS Blockchain Guidance
Excerpt from Practical Guidance
An industry letter released in the fall by the New York State Department of Financial Services, together with guidance issued over the past decade, signals a heightened regulatory expectation for covered institutions regarding the use of blockchain analytics and requires review, says Nicole De Santis at Nomadis Consulting.
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SEC Virtu Deal Previews Risks Of Nonpublic Info In AI Models
The U.S. Securities and Exchange Commission’s recent settlement with Virtu Financial Inc. over alleged failures to safeguard customer data raises broader questions about how traditional enforcement frameworks may apply when material nonpublic information is embedded into artificial intelligence trading systems, says Braeden Anderson at Gesmer Updegrove.
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Series
Judges On AI: How Courts Can Boost Access To Justice
Arizona Court of Appeals Judge Samuel A. Thumma writes that generative artificial intelligence tools offer a profound opportunity to enhance access to justice and engender public confidence in courts’ use of technology, and judges can seize this opportunity in five key ways.
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Examining Privilege In Dual-Purpose Workplace Investigations
The Sixth Circuit's recent holding in FirstEnergy's bribery probe ruling that attorney-client privilege applied to a dual-purpose workplace investigation because its primary purpose was obtaining legal advice highlights the uncertainty companies face as federal circuit courts remain split on the appropriate test, say attorneys at Proskauer.
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Hot Topics For Family Offices In 2026
For family offices, the throughline of 2026 is disciplined readiness, as navigating impact from the One Big Beautiful Bill Act and platform maturation will be necessary to preserve flexibility and enhance client outcomes, say attorneys at Morgan Lewis.