Securities

  • July 14, 2026

    Fed 'Racing' To Hit Genius Act Rules Deadline, Warsh Says

    Federal Reserve Chair Kevin Warsh told lawmakers Tuesday that the central bank is "racing" to meet a looming deadline for drafting certain rules required by the Genius Act, the landmark stablecoin law that other federal regulators have already proposed regulations to implement.

  • July 14, 2026

    CFTC Tells Kalshi To Fulfill Mich. Trades Despite Court Order

    The U.S. Commodity Futures Trading Commission on Tuesday told KalshiEx LLC to fulfill open trades from Michigan residents despite a state judge's directive to unwind certain prediction market transactions, marking the agency's latest clash with states over event contract supervision.

  • July 14, 2026

    EV Maker, CEO Settle SEC Action Over Debt Offering Claims

    The U.S. Securities and Exchange Commission has reached a $709,000 settlement with an Ohio-based electric- and gas-powered vehicle manufacturer and its CEO to resolve claims that they made misleading statements portraying the company as being more successful than it actually was in connection with a $112 million convertible debt offering.

  • July 14, 2026

    Crypto Expert Gets $28M Bitcoin Arbitration Award Enforced

    A New York federal judge has enforced a $28 million arbitration award issued to a Malta-based cryptocurrency expert and his two companies following their dispute with a bitcoin mining server supplier they claim sent them faulty machinery.

  • July 14, 2026

    2 Firms Tapped To Lead Super Micro Investor Action

    A California federal judge has appointed Kessler Topaz Meltzer & Check LLP and Bernstein Litowitz Berger & Grossmann LLP to lead a now-consolidated investor class action alleging Super Micro Computer failed to disclose that a large portion of its server sales were made to Chinese companies in transactions that violated U.S. export controls and led to three arrests.

  • July 14, 2026

    Texas 3% Corporate Law Unfit For Federal Courts, 5th Circ. Told

    A Southwest Airlines Co. shareholder told the Fifth Circuit that Texas' new corporate reform law cannot bar federal lawsuits just because a shareholder owns less than a certain amount of stock, saying the appellate court should revive his lawsuit.

  • July 14, 2026

    SEC Case Alleging Misvalued Funds Trimmed By Ill. Judge

    An Illinois federal judge has trimmed claims in a long-running U.S. Securities and Exchange Commission suit accusing a fund adviser of misleading investors about the performance of some of the funds it oversaw, finding that the agency didn't provide evidence that the adviser intentionally made misstatements about the funds' compliance with accounting standards.

  • July 14, 2026

    Conn. Judge Rejects Kalshi Bid To Cite CFTC's League Deals

    A Connecticut federal judge has rejected Kalshi's bid to consider the U.S. Commodity Futures Trading Commission's collaboration with Major League Baseball and other leagues within the company's suit against the state's efforts to crack down on prediction market platforms.

  • July 13, 2026

    Portofino Says Citadel Used Dismissal To Fuel Press Campaign

    Portofino Technologies has accused Citadel Securities of using its decision to drop its trade secrets lawsuit against the Swiss cryptocurrency trading firm as an opportunity to drum up bad press about Portofino, and papering over the fact that an $8 million judgment it won in the dispute is a "pyrrhic victory."

  • July 13, 2026

    Defense Gears Up To Fight Polymarket Insider Trading Case

    Counsel for a former Google software engineer accused of raking in over $1.2 million by leveraging the tech giant's confidential information to place bets on Polymarket told a Manhattan federal judge Monday about a number of defenses they are considering to fight the novel allegations of prediction market-based insider trading.

  • July 13, 2026

    BlackRock's Mutual Fund Accounting Inflated Fees, Suit Says

    Asset manager BlackRock Inc.'s accounting practices artificially inflated the values of more than 70 of its mutual funds, saddling investors with higher management fees and cutting into the dividends they might have collected, according to a proposed class action lodged Monday in New York state court.

  • July 13, 2026

    Wells Fargo's $50M Deal In Atty's Ponzi Scheme Gets 1st OK

    Wells Fargo will pay $50 million to settle a proposed class action alleging it knowingly helped a Las Vegas attorney run a multimillion-dollar Ponzi scheme deceiving investor victims into fronting money for borrowers awaiting personal injury settlement payouts, according to a preliminary approval order issued in Nevada federal court.

  • July 13, 2026

    Robinhood Fights Wisconsin's Bid To Block Sports Betting

    Robinhood has asked a Wisconsin federal judge to deny the state's bid to shut down sports betting offered through Robinhood's app and other online trading platforms, including Kalshi and Coinbase, arguing that the state's suit seeks to bypass the exclusivity of federal law governing such trading.

  • July 13, 2026

    Custodia Urges Justices To Take Up Fed Master Account Fight

    Crypto-focused Custodia Bank is asking the U.S. Supreme Court to take up its challenge of a Tenth Circuit ruling that backed Federal Reserve banks' discretion to deny master accounts to otherwise eligible banks, arguing the decision empowers unappointed regional bank presidents to deny "disfavored" banks access to critical payment services.

  • July 13, 2026

    SEC Asked To Reopen Reporting Proposal After Email 'Error'

    Better Markets is asking the U.S. Securities and Exchange Commission to reopen the comment period for its semiannual reporting proposal after the agency allegedly directed prospective commenters to an incorrect email address, but an agency spokesperson said Monday the email address listed on the proposal was working.

  • July 13, 2026

    SEC Says Crypto Service Agreement Is Investment Contract

    The U.S. Securities and Exchange Commission has asked a Texas federal judge to find that service agreements offered by two crypto mining fraudsters count as investment contracts, and thus securities, saying the court should grant judgment as a matter of law.

  • July 13, 2026

    Wahlberg-Backed Gym Co. Inks $10.5M Investor Settlement

    A fitness franchise associated with the actor Mark Wahlberg has agreed to pay $10.5 million to exit a class action accusing it of misleading investors about its growth potential ahead of its initial public offering, according to papers filed in a Texas federal court.

  • July 13, 2026

    Adani Must Swear No Deal Prompted DOJ Dismissal Bid

    Apparent concerns about a potential quid pro quo have prompted a New York federal judge to order Indian billionaire Gautam Adani to state in an affidavit whether he "promised" anything to the government in exchange for the U.S. Department of Justice moving to dismiss criminal charges against him.

  • July 13, 2026

    NC Co.'s $9.8M Indemnity Payment Not Covered, Insurers Say

    A building products manufacturer is not entitled to coverage after reimbursing its financial adviser $9.8 million for defense and settlement costs incurred in litigation over a take-private transaction, the company's excess directors and officers insurers told a North Carolina federal court.

  • July 13, 2026

    Assertio Beats Investor Suit Over Drug, Merger Claims

    An Illinois federal judge Friday dismissed a proposed investor class action claiming Assertio misled shareholders about threats to sales of its arthritis drug Indocin, saying the company's public filings explicitly and repeatedly warned that the drug lacked patent protection and faced imminent generic competition at any time.

  • July 13, 2026

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court last week handled disputes involving corporate control, post-closing competition, executive departures, arbitration awards and shareholder litigation.

  • July 13, 2026

    Frontier Will Pay $14M To End 401(k) Telecom Stocks Fight

    Frontier Communications Corp. has agreed to fork over approximately $14 million to end a proposed class action claiming its employee 401(k) plan was improperly overinvested in Verizon Wireless and other telecommunications stocks, according to a filing in Connecticut federal court.

  • July 10, 2026

    Intuit Hid True Status Of TurboTax Business, Investor Alleges

    Intuit touted a "momentum" across its businesses while hiding that its TurboTax business was, in reality, poorly performing, an investor alleged in a proposed class action filed Friday in California federal court that also accuses the financial software company's CEO of fraudulently enriching himself by more than $36 million.

  • July 10, 2026

    Fugitive Trader's Wife Must Pay For Divorce Asset Fight

    The sanctioned wife of a fugitive Oak Management Corp. trader must pay more than $23,000 to offset expenses a receiver racked up while challenging a divorce agreement that could have siphoned money away from the victims of a $67 million fraud scheme, a Connecticut federal judge concluded on Friday.

  • July 10, 2026

    Crypto Firms Urge CFTC To Tailor Rules, CME Urges Caution

    Cryptocurrency industry groups and firms are urging the U.S. Commodity Futures Trading Commission to make regulatory tweaks to ensure blockchain-based financial products aren't burdened by unsuitable requirements of traditional registration categories, while some traditional finance players told the agency to tread carefully as it considers deregulation for fintech businesses.

Expert Analysis

  • Takeaways From 1st Del. Ruling Applying Moelis Amendments

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    Delaware corporations should carefully review contractual arrangements and governance documents following the Court of Chancery's recent enforcement of a non-Delaware forum selection clause in a CEO's employment agreement under 2024 amendments to the state's General Corporation Law, say attorneys at Morgan Lewis.

  • Ill. Law Firm MSO Bill Clashes With Court Power, Ethics Rules

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    An Illinois bill prohibiting law firms from certain business arrangements with management service organizations, sent to the governor for signature last week, encroaches upon the courts' constitutional powers and goes beyond the Illinois Rules of Professional Conduct in regulating investment in law-related services, says Matthew O’Hara at Smith Gambrell.

  • 3rd Circ. Decision Sheds Light On BIPA Bank Exemption

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    The Third Circuit's recent decision in McGoveran v. Amazon illuminates how courts are extending the Illinois Biometric Information Privacy Act's financial institution carveout beyond banks and insurers to technology vendors and other businesses handling biometric data, a defendant-friendly shift that still casts uncertainty around BIPA's enforcement, say attorneys at Dorsey & Whitney.

  • Assessing Issues The CFTC's Sports Betting Rules May Face

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    The U.S. Commodity Futures Trading Commission recently proposed a rule to consolidate its control of sports bets made on prediction market trading platforms, but problems may arise from possible conflicts between the proposed changes and state laws — and maybe even the Commodity Exchange Act itself, says David Slovick at Kopecky Schumacher.

  • Opinion

    State Courts Must Be Gatekeepers Of Expert Testimony

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    Based on my experience in the state judiciary, emulating federal courts' role as gatekeepers of expert witness testimony would help state court judges maintain the appearance of impartiality and assist juries, thus enhancing the overall confidence people have in their justice system, says Lorie Gildea at Greenberg Traurig.

  • Capitalizing On Increased Retail Access To Alternative Assets

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    The recent extension of co-investment relief to open-end funds represents the latest regulatory action aimed at providing retail investors with meaningful private market opportunities — a trend that means alternative asset managers should develop and deploy a retail strategy to capture this emerging capital source, say attorneys at Willkie.

  • Series

    Moshing Makes Me A Better Lawyer

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    Entering a mosh pit is much like entering the practice of law — it is difficult, you have to know both the written and unwritten rules, and conduct yourself according to the expectations of each community, says Christopher Deubert at Constangy Brooks.

  • Is The SEC Entering Fight Over Prediction Market Oversight?

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    The U.S. Securities and Exchange Commission had remained largely silent on prediction market regulation until last week, but that trend may be changing, as many event contracts could qualify as security-based swaps, which are subject to the SEC's oversight under current definitions, say attorneys at Bradley Arant.

  • Data Reveals Pivot In Feds' Financial Fraud Priorities

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    Recent Justice Department data shows fraud prosecutions fell to their lowest rate in a decade in 2025, illustrating a move away from traditional financial cases and toward a targeted mix of healthcare, government program, consumer and sanctions matters, say Paul Hinton and Adrienna Huffman at The Brattle Group.

  • Why Highly Specialized Experts May Risk Exclusion At Trial

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    Expert witnesses with highly specific areas of focus may be vulnerable to exclusion in court, making it important for attorneys to check how potential witnesses' qualifications can be bolstered by their publications and other professional activities, say Evan Weisberg and Christopher Cunio at Hunton, and Kevin Cahill at FTI Consulting.

  • Agentic AI And Securities Law: The Machine As A Manipulator

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    The market manipulation doctrine that emerges following the rise of agentic artificial intelligence may be more focused on market effects than on individual states of mind, and more attentive to system design than to discrete acts of deception, says Joseph A. Hall at Davis Polk.

  • FDIC Proposal Takes Bank-Like AML Approach To Stablecoins

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    Rather than craft a bespoke regime for stablecoin issuers, a recently proposed Federal Deposit Insurance Corp. rule builds a technology-neutral Bank Secrecy Act compliance framework under the Genius Act, firmly anchoring stablecoins within the U.S. financial regulatory perimeter, says David Zaslowsky at Baker McKenzie.

  • Justices' ICA Ruling Provides Certainty For Regulated Funds

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    The U.S. Supreme Court's recent ruling in FS Credit v. Saba that a contract-rescission provision of the Investment Company Act does not provide investors with a private right of action is a victory for the regulated fund industry, emphasizing that where Congress intended to create private remedies, it did so expressly, say attorneys at Simpson Thacher.

  • AI Heightens Old Compliance Risks For Investment Advisers

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    Though artificial intelligence offers genuine promise for investment advisers, it also magnifies long-standing risks — including those involving fiduciary duties, books and records, client confidentiality, and marketing — with most foundational compliance requirements likely to remain, says Theodore Edwards at Troutman.

  • Drawing A Line Between Settlement Pressure And Extortion

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    U.S. v. Luo, pending in the U.S. District Court for the Southern District of New York, may force courts to address anew when settlement negotiations become criminal extortion, particularly in the age of easily fabricated digital evidence, says attorney Denis Kiely.

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