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Securities
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October 22, 2025
Straight Path Class Attys Appeal $1.2B Damage Claim Toss
An attorney for Straight Path Communications shareholders told Delaware's justices Wednesday the state Supreme Court should revive a $1.2 billion claim tied to company controller Howard Jonas' allegedly self-interested role in shutting down a board special committee's pursuit of damages against him.
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October 22, 2025
Crypto Exchange FalconX Snags ETP Provider 21shares
Digital asset brokerage FalconX on Wednesday unveiled plans to buy cryptocurrency exchange-traded funds and products provider 21shares, a move that comes just over a month after the U.S. Securities and Exchange Commission eased listing standards for crypto ETPs.
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October 22, 2025
NC Biz Court Bulletin: COVID Coverage, A Suspect Signature
The North Carolina Business Court has rounded the corner into fall with insurance disputes over COVID-19 coverage at a chain of outlet malls and the theft of over $900,000 in legal THC reportedly stolen from a warehouse in the Southwest.
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October 22, 2025
NHL Embraces Prediction Market With Kalshi, Polymarket Deals
The National Hockey League on Wednesday announced it had entered "landmark" multiyear agreements with Polymarket and Kalshi following a recent surge in the popularity of prediction market platforms, which have also faced several recent legal challenges.
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October 22, 2025
16-Year CFTC Atty Joins Orrick's DC Finance Team As Partner
A veteran Commodity Futures Trading Commission lawyer who most recently served as an associate director has joined Orrick Herrington & Sutcliffe LLP in Washington, D.C., as former lawyers from the agency move to new roles months after a round of layoffs.
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October 21, 2025
Citadel Securities Asks 11th Circ. To Scope SEC's IEX Order
Citadel Securities has petitioned the Eleventh Circuit to review the U.S. Securities and Exchange Commission's recent approval of a new options exchange called IEX Options, following a comment letter the broker-dealer sent to the regulator stating that IEX "seeks approval for an unprecedented quote-canceling scheme in the U.S. options market."
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October 21, 2025
Crypto Trader Says He Thought MIT Bros.' $25M Win Was Legit
A former quantitative trader for two MIT-educated cryptocurrency entrepreneurs told a Manhattan federal jury Tuesday he didn't believe at the time that they were doing anything illegal when executing a strategy to obtain $25 million at the expense of other traders on the Ethereum blockchain.
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October 21, 2025
Chancery Mulls 'Sufficiency' Ruling In Squarespace Doc Suit
An attorney for a former stockholder of website hosting venture Squarespace Inc. told a Delaware vice chancellor Tuesday that the Chancery Court's senior magistrate erred in declining to order a release of emails for a books and records investigation focused on the company founder's role in a $7.2 billion take-private sale.
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October 21, 2025
2nd Circ. Weighs Reviving Signature Bank Investor Suit
The Second Circuit quizzed an FDIC attorney Tuesday over the agency's ability to stop Signature Bank's former shareholders from suing following the bank's collapse, with the judges considering whether to revive a lawsuit accusing Signature's brass and its outside auditor of failing to warn investors about its liquidity problems.
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October 21, 2025
Ex-Crypto Exec Claims Stablecoin Venture Betrayed Him
A former executive of a cryptocurrency company has launched a Delaware Chancery Court suit accusing its controlling members of fraudulently coercing him into signing away his rights and then usurping the company's planned stablecoin venture for themselves, breaching their fiduciary and contractual duties to both him and the firm.
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October 21, 2025
Ex-FBI Informant Gentile, Firm Now On Hook For $19M To SEC
A onetime FBI informant and his shuttered, unregistered broker-dealer owe over $19 million total in disgorgement, prejudgment interest and civil penalties after the U.S. Securities and Exchange Commission recalculated its interest requests, a Miami federal judge has determined.
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October 21, 2025
Investors Tell Chancery CytoDyn Board Ignored Drug Scheme
Stockholders of CytoDyn Inc. have filed a consolidated derivative complaint in the Delaware Chancery Court, accusing the company's leadership of wrongfully refusing to investigate and sue its former CEO and others over an aligned scheme to mislead investors about the company's flagship drug.
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October 21, 2025
CFTC's Pham Expects Spot Crypto Trading By End Of Year
Acting U.S. Commodity Futures Trading Commission Chair Caroline Pham said Tuesday the agency is moving quickly to implement the White House's recommendations for enabling digital asset trading and innovation, with listed spot crypto trading expected to go live this year.
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October 21, 2025
Wilson Sonsini Adds Cooley Capital Markets Pro In Calif.
Wilson Sonsini Goodrich & Rosati PC continues adding Cooley LLP attorneys to its corporate team, announcing Tuesday it is bringing in a capital markets expert as a partner in its San Francisco office.
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October 21, 2025
Coinbase Pays $375M For Echo Amid 'Full-Stack' Crypto Push
Coinbase said Tuesday it has acquired blockchain fundraising platform Echo for approximately $375 million, as the cryptocurrency giant makes its latest push to create a "full-stack" solution for crypto investors.
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October 21, 2025
NY Atty Blames Another Lawyer For AI-Faked Case Citations
A New York attorney on Tuesday denied ever having used artificial intelligence in his law practice and said the fake, AI-hallucinated cases cited in a motion to dismiss a case against his client were prepared by another attorney.
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October 21, 2025
Cleary Adds Proskauer Funds Atty Amid Changing Market
Cleary Gottlieb Steen & Hamilton LLP has hired a new global funds group attorney in Washington, D.C., who is joining the team from Proskauer Rose LLP as retail and private investment markets continue evolving, the firm announced Monday.
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October 20, 2025
Penny Stock Trader Wants New 'Scalping' Trial After SEC Loss
A man found liable on U.S. Securities and Exchange Commission claims he earned at least $2.5 million by buying, hyping, and then selling penny stocks in a "scalping" scheme has asked a New York federal judge for a new trial, saying the verdict form unfairly lumped his civil charges together.
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October 20, 2025
OCC Chief Says Stablecoin Drain Wouldn't 'Happen Overnight'
A top U.S. banking regulator on Monday downplayed concerns that future growth in interest-earning payment stablecoins could bleed banks of deposits, saying any such shift would be gradual and closely watched by regulators, not a sudden shock to the system.
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October 20, 2025
States Urge Del. High Court To Reject Jarkesy Challenge
State regulators are asking the Delaware Supreme Court to reject an oil-and-gas company's call to apply a recent U.S. Supreme Court decision to state-level securities fraud actions, arguing that a ruling in the company's favor could have "ripple effects" on other states' abilities to pursue alleged fraudsters via administrative courts.
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October 20, 2025
Green Dot Investors Seek First OK For $40M Settlement
Shareholders of financial technology company Green Dot are seeking an initial nod for their $40 million deal ending proposed class action claims accusing the company of concealing declining prepaid card sales amid competition from digital banking alternatives.
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October 20, 2025
5th Circ. Affirms Fraud Conviction Of Failed Bank's Ex-CEO
A Fifth Circuit panel upheld the conviction of former First NBC Bank CEO Ashton J. Ryan Jr., who was sentenced to 14 years in prison and ordered to pay $215 million in restitution after a jury found him guilty of bank fraud and conspiracy related to the collapse of the Louisiana bank.
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October 20, 2025
Chemical Co. To Tap Compliance Chief In Investor Suit Deal
Shareholders who sued Origin Materials leaders for allegedly concealing a three-year construction delay affecting a planned production facility have urged a California federal court to greenlight a nonmonetary settlement that would see the sustainable chemical manufacturer appoint a chief compliance officer, among other things.
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October 20, 2025
Biotech Co. Asks SEC For Emergency Delisting Pause
Chinese biotechnology company Shineco Inc. has asked the U.S. Securities and Exchange Commission for an emergency stay of Nasdaq's suspension and delisting of its securities, arguing it will likely succeed in its pending appeal to the stock exchange.
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October 20, 2025
Tax Startup CEO Swindled $13M From Investors, SEC Says
The CEO of a defunct tax-compliance startup lied to investors as she raised $13 million for her company, overstating its revenues by almost 900 times and falsely claiming she was a certified public accountant, the U.S. Securities and Exchange Commission said Monday in California federal court.
Expert Analysis
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Series
Adapting To Private Practice: From Va. AUSA To Mid-Law
Returning to the firm where I began my career after seven years as an assistant U.S. attorney in Virginia has been complex, nuanced and rewarding, and I’ve learned that the pursuit of justice remains the constant, even as the mindset and client change, says Kristin Johnson at Woods Rogers.
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Rebutting Price Impact In Securities Class Actions
Defendants litigating securities cases historically faced long odds in defeating class certification, but that paradigm has recently begun to shift, with recent cases ushering in a more searching analysis of price impact and changing the evidence courts can consider at the class certification stage, say attorneys at Katten.
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7 Document Review Concepts New Attorneys Need To Know
For new associates joining firms this fall, stepping into the world of e-discovery can feel like learning a new language, but understanding a handful of fundamentals — from coding layouts to metadata — can help attorneys become fluent in document review, says Ann Motl at Bowman and Brooke.
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Senate Bill Could Overhaul Digital Asset Market Structure
The Senate Banking Committee's draft Responsible Financial Innovation Act would not only clarify the roles and responsibilities of financial institutions engaging in digital asset activities but also impose new compliance regimes, reporting requirements and risk management protocols, say attorneys at Troutman.
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Opinion
Congress Must Resolve PSLRA Issue For Section 11 Litigants
By establishing a uniform judgment reduction credit for all defendants in cases involving Section 11 of the Securities Act, Congress could remove unnecessary statutory ambiguity from the Private Securities Litigation Reform Act and enable litigants to price potential settlements with greater certainty, say attorneys at Sidley.
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Stablecoin Committee Promotes Uniformity But May Fall Short
While the Genius Act's establishment of the Stablecoin Certification Review Committee will provide private stablecoin issuers with more consistent standards, fragmentation remains due to the disparate regulatory approaches taken by different states, say attorneys at Morgan Lewis.
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Agentic AI Puts A New Twist On Attorney Ethics Obligations
As lawyers increasingly use autonomous artificial intelligence agents, disciplinary authorities must decide whether attorney responsibility for an AI-caused legal ethics violation is personal or supervisory, and firms must enact strong policies regarding agentic AI use and supervision, says Grace Wynn at HWG.
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Resilience Planning Is New Key To Corporate Sustainability
While the current wave of deregulation may reduce government enforcement related to climate issues, businesses still need to evaluate how climate volatility may affect their operations and create new legal risks — making the apolitical concept of resilience increasingly important for companies, says J. Michael Showalter at ArentFox Schiff.
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Parsing Trump Admin's First 6 Months Of SEC Enforcement
The U.S. Securities and Exchange Commission's enforcement results for the first six months of the Trump administration show substantially fewer new enforcement actions compared to the same period under the previous administration, but indicate a clear focus on traditional fraud schemes affecting retail investors, say attorneys at King & Spalding.
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FDA Transparency Plans Raise Investor Disclosure Red Flags
The U.S. Food and Drug Administration’s recently announced intent to publish complete response letters for unapproved drugs and devices implicates certain investor disclosure requirements under securities laws, making it necessary for life sciences and biotech companies to adopt robust controls going forward, say attorneys at Arnold & Porter.
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Series
Being A Professional Wrestler Makes Me A Better Lawyer
Pursuing my childhood dream of being a professional wrestler has taught me important legal career lessons about communication, adaptability, oral advocacy and professionalism, says Christopher Freiberg at Midwest Disability.
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SEC Rulemaking Radar: The Debut Of Atkins' 'New Day'
The U.S. Securities and Exchange Commission's regulatory flex agenda, published last week, demonstrates a clear return to appropriately tailored and mission-focused rulemaking, with potential new rules applicable to brokers, exchanges and trading, among others, say attorneys at Goodwin.
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Series
Law School's Missed Lessons: Adapting To The Age Of AI
Though law school may not have specifically taught us how to use generative artificial intelligence to help with our daily legal tasks, it did provide us the mental building blocks necessary for adapting to this new technology — and the judgment to discern what shouldn’t be automated, says Pamela Dorian at Cozen O'Connor.
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Ch. 11 Ruling Voiding $2M Litigation Funding Sends A Warning
A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a completely drawn down $2 million litigation funding agreement serves as a warning for estate administrators and funders to properly disclose the intended financing, say attorneys at Kleinberg Kaplan.
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A Changing Playbook For Fighting Records Requests In Del.
The Delaware Supreme Court's recent decision in Wong v. Amazon, reversing the denial of an inspection demand brought by a stockholder, serves as a stark warning to corporations challenging books and records requests, making clear that companies cannot defeat such demands solely by attacking the scope of their stated purpose, say attorneys at Duane Morris.