Securities

  • June 23, 2026

    Chancery OKs $29.5M Settlement In Chewy Shareholder Suit

    Delaware's Chancery Court on Tuesday approved a $29.5 million settlement ending a derivative suit that accused a private equity firm of structuring a transaction that benefited it at Chewy Inc.'s expense, noting an independent special litigation committee had uncovered potentially valuable claims and determined a settlement was the better path forward.

  • June 23, 2026

    Stock Bought Too Late For Breakup Fee Suit, Judge Says

    A New York federal judge has dismissed an investor suit claiming that the top brass of the sponsor of a blank check company unfairly claimed a $29 million settlement despite missing a deadline to merge with another company, finding that the investor purchased shares after the breakup fee of the failed merger was disclosed.

  • June 23, 2026

    Circle Says It's Not Liable To Crypto Users For Drift Hack

    Circle Internet Group urged a Massachusetts federal court to toss a suit from crypto users accusing the stablecoin issuer of failing to act when $280 million in digital assets was drained from crypto project Drift Protocol in an April Fools' Day exploit, arguing that accusations of inaction are insufficient to support the claims.

  • June 23, 2026

    Voyager Investors Appeal Toss Of Mark Cuban Crypto Case

    Investors of collapsed cryptocurrency brokerage Voyager Digital on Tuesday told a Florida federal judge they are challenging his order dismissing their claims against Mark Cuban and the Dallas Mavericks and his ruling denying the transfer of the case to Texas.

  • June 23, 2026

    SEC Sends E-Delivery Proposal To White House

    The U.S. Securities and Exchange Commission could soon put forth a proposal amending the rules for providing electronic statements to investors, following recent comments from SEC Chair Paul Atkins that changes to the opt-in model are "long overdue."

  • June 23, 2026

    Investors Say Franklin's Putnam Unit Overvalued Funds

    Franklin Templeton's Putnam Funds failed to disclose accounting practices that led to inflated net asset value calculations and saddled investors with higher costs, according to a proposed $100 million class action filed in Massachusetts state court.

  • June 23, 2026

    SEC Won't Revoke Cannabis Co. Share Trading

    Oregon-based cannabis cultivator Grown Rogue International Inc. will continue to be a publicly traded company after the U.S. Securities and Exchange Commission dismissed a revocation case against it, finding the company had caught up on years of late filings and stayed current.

  • June 23, 2026

    Clifford Chance Adds Ex-V&E Debt Finance Atty In Houston

    Clifford Chance LLP announced on Monday the hiring of a former Vinson & Elkins LLP attorney as a finance and derivatives partner in its Houston office.

  • June 23, 2026

    Burgerville Investor Sues In Del. Over Board Control Dispute

    A dispute over control of the board governing the Pacific Northwest restaurant chain Burgerville has landed in the Delaware Chancery Court, where an investor claims the company refused to honor its contractual right to remove two managers from the board and then allowed an improperly constituted board to continue exercising authority.

  • June 22, 2026

    Traders Plead Guilty In NY To $1M Insider Trading Scheme

    Two traders involved in a multi-year insider trading scheme with a former Joseph Gunnar & Co. broker who used confidential information about upcoming secondary stock offerings to make over $1 million in illicit profits pled guilty Monday to securities fraud, according to the federal government.

  • June 22, 2026

    Penny Stock Trader Loses Bid For New 'Scalping' Trial

    A New York federal judge has rejected a penny stock trader's request for a new trial after he was found liable for a $2.5 million fraud scheme known as scalping, ruling that the U.S. Securities and Exchange Commission had plenty of evidence backing its allegations.

  • June 22, 2026

    Cuomo To Lead OKX-NYSE Parent Crypto Joint Venture

    Former New York Gov. Andrew Cuomo will co-chair a joint venture between cryptocurrency exchange OKX and New York Stock Exchange parent Intercontinental Exchange, a partnership aimed at developing infrastructure for "tokenized and digitally native financial products," according to an announcement made Monday.

  • June 22, 2026

    Cassava Investors Ink $31M Drug Suit Deal Alongside Appeal

    Cassava Sciences investors have asked a Texas federal judge to preliminarily approve a $31 million settlement that ends their claims the pharmaceutical company inflated its stock prices with misleading information about its Alzheimer's drug research, a deal that could be upended if the court's class certification order is reversed on appeal.

  • June 22, 2026

    Zymergen Investors Get First OK For $125M Settlement

    Former executives, underwriters and large investors of now-defunct biotechnology company Zymergen received initial approval on Monday of a $125 million deal to end claims that they misled shareholders ahead of the company's initial public offering by approving misstatements about Zymergen's commercial product pipeline.

  • June 22, 2026

    CFTC Seeks Input On Energy Perpetual Contracts, 24/7 Trading

    The U.S. Commodity Futures Trading Commission is asking for public input on how it should address around-the-clock trading and perpetual contracts in the energy industry, asking how the industry developments could impact the price of commodities like crude oil.

  • June 22, 2026

    Mich. Appeals Court Affirms $3M Award In Equity Dispute

    The Michigan Court of Appeals upheld a $3 million award to a former employee of a wealth management company, saying Monday that enough evidence supported a jury's finding that CIG Capital Advisors deliberately misled the plaintiff about his ownership status and diverted revenue to hide profits.

  • June 22, 2026

    OCC Pitches Anti-Illicit Finance Rules For Stablecoin Issuers

    The Office of the Comptroller of the Currency issued a plan Monday to implement Bank Secrecy Act and sanctions compliance standards for stablecoin issuers, folding in a past plan from Treasury Department regulators and marking the latest regulatory proposal under the federal stablecoin framework known as the Genius Act.

  • June 22, 2026

    Uber Board Spawned 'Serial Compliance Offender,' Suit Says

    Uber Technologies Inc. executives and board directors have fostered a culture of noncompliance and lax safety that has exposed the ride-hailing giant to thousands of sexual harassment and disability discrimination lawsuits, according to a new shareholder derivative suit in California federal court Monday.

  • June 22, 2026

    Bitcoin Miner Hut 8, Investors Ink $2.3M Merger Settlement

    A proposed class of investors in Hut 8 Corp. has reached a $2.3 million settlement with the bitcoin miner to resolve claims that it overpaid for a company with severe operational issues and misled investors about energy and connectivity failures at a Texas facility that was part of the merger.

  • June 22, 2026

    SEC Signals Interest In Novel ETF Rulemaking

    The U.S. Securities and Exchange Commission could soon ask the public what it thinks about new types of exchange-traded funds that some companies have proposed, potentially moving a step closer to writing rules for the fund industry as prediction market ETFs await the agency's approval.

  • June 22, 2026

    Sorrento RICO Case Naming Jackson Walker Gets Axed

    A Texas bankruptcy judge blocked a lawsuit in California federal court alleging Jackson Walker LLP and executives at Sorrento Therapeutics and M3 Partners conspired to forum shop in Texas so the drug developer could seek Chapter 11 protection in an "ethically compromised" bankruptcy court, ruling the suit's claims are barred by Sorrento's bankruptcy plan.

  • June 22, 2026

    Coffee Chain's New Openings Guzzled Revenue, Investor Says

    Arizona-based coffee chain Black Rock Coffee, its executives and initial public offering underwriters were hit with a proposed shareholder class action alleging they failed to disclose ahead of the offering that the company's rapid expansion was negatively impacting sales at existing stores.

  • June 22, 2026

    TerraForm Attys Get $23M Fee In Brookfield Settlement

    The Delaware Chancery Court awarded plaintiffs' attorneys more than $23 million in fees and expenses for securing an $83.8 million settlement that resolved long-running shareholder litigation over Brookfield Asset Management's 2020 take-private merger with renewable energy company TerraForm Power Inc.

  • June 22, 2026

    Holland & Knight Adds Jones Day Atty To Atlanta, DC Teams

    Holland & Knight LLP has bolstered its ranks in Atlanta and Washington, D.C., by adding an attorney from Jones Day with experience helping clients navigate investigations brought by enforcers including the U.S. Department of Justice and the U.S. Securities and Exchange Commission. 

  • June 22, 2026

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court this past week handled disputes involving executive compensation, take-private transactions, books and records demands, tender offers and alleged insider misconduct.

Expert Analysis

  • Becoming The Biz-Savvy GC That Portfolio Companies Need

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    Candidates for general counsel roles at private equity-backed portfolio companies should prioritize proving their sector-specific experience, commercial judgment and ease with uncertainty — and attorneys hoping to be candidates in five to 10 years should start working on those skills now, says Dimitri Mastrocola at Major Lindsey.

  • Operational AI Washing: The Section 220 Information Strategy

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    Plaintiffs filing AI washing claims will likely use Section 220 of the Delaware General Corporation Law to obtain internal board records, but 2025 amendments have fundamentally changed the landscape of presuit shareholder document demands in ways that create both risk and opportunity for companies, say attorneys at Akerman.

  • Del. Dispatch: The Hurdles To Early Fraud Claim Dismissal

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    Particularly where the alleged facts may suggest potentially blatant or egregious misconduct, the pleading-stage standards highlighted in the Delaware Court of Chancery's recent decision in Diem v. Maisonette provide a ready route for the nondismissal of claims before a trial, say attorneys at Fried Frank.

  • Series

    Judges On AI: How Courts Can Survive The Tech Revolution

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    Colorado Supreme Court Justice Maria Berkenkotter and Colorado Court of Appeals Judge Lino Lipinsky de Orlov discuss how artificial intelligence has already fundamentally altered the legal system and offer tips for courts navigating deepfakes, hallucinations and a gap in access to AI tools.

  • AI Investment Advice May Fail Investor Protection Rules

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    Based on an ongoing study of artificial intelligence platforms' investment advice given to retail investors, direct access to AI may not yield recommendations for typical households that are suitable under relevant securities rules, raising new and important issues in the regulation of financial markets, says Bruce Carlin at Rice University.

  • Startup Founder Disputes Increasingly Turn On Governance

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    Recent Delaware developments suggest that as courts place increasing emphasis on board process, independence and oversight in founder-led startups, the growing intersection of governance, technology risk and investor oversight is accelerating both the emergence and escalation of founder disputes, says mediator Frank Burke.

  • 3 AI Adoption Mistakes GCs Should Avoid

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    The pressure in-house legal teams face to quickly adopt artificial intelligence tools, combined with budget constraints and the need to evaluate a crowded market of options, sets the stage for implementation mistakes that are often difficult to undo, says former 23andMe general counsel Guy Chayoun.

  • Series

    Playing Basketball Makes Me A Better Lawyer

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    My grandfather used to say "I wear your jersey" as shorthand for wholly committing to support someone with loyalty and integrity — ideals that have shaped my life on the basketball court and in legal practice, says Tracy Schimelfenig at Schimelfenig Legal.

  • How Del. Courts Will Likely Evaluate AI Oversight Claims

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    While no Delaware court has thus far adjudicated a claim based on alleged board failures to oversee artificial intelligence risk, recent Court of Chancery decisions suggest that familiar Caremark principles will be applied in predictable but consequential ways, particularly when AI touches mission‑critical operations, say attorneys at WilmerHale.

  • SEC Clarifies 'Baby Shelf' Restrictions For Small Cos.

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    For smaller public companies looking to access the capital markets, the so-called baby shelf requirements can be a significant limitation, but recent guidance from the U.S. Securities and Exchange Commission helps to alleviate the effect of subsequent baby shelf restrictions on an at-the-market facility, say attorneys at Faegre Drinker.

  • Series

    The Biz Court Digest: Georgia Court Has Business On Its Mind

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    Thanks to recent legislation, the Georgia State-wide Business Court will soon offer business litigants greater access to the court than ever before, further enhancing the court's emphasis on efficiency, predictability and accessibility for sophisticated commercial disputes, says former GSBC judge Walt Davis at Jones Day.

  • Key Tronic Case Shows SEC Isn't Ignoring Controls Violations

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    The U.S. Securities and Exchange Commission's first nonfraud enforcement action against a public company during Chairman Paul Atkins' tenure reflects the commission’s willingness to bring enforcement actions that charge books and records and internal controls violations, despite deviating from policing technical violations, say attorneys at Cooley.

  • How Treasury's Stablecoin Test Will Shape State Oversight

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    The Treasury Department's recently proposed principles for judging whether state stablecoin regimes are "substantially similar" to the federal framework signal that issuers should expect stricter benchmarking against the bank agencies' standards, limited state flexibility and heightened pressure to reassess compliance as rules take shape, say attorneys at Baker McKenzie.

  • Operational AI Washing: A New Securities Class Action

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    In rising claims of operational AI washing — plaintiffs alleging that artificial intelligence was invoked to explain corporate business decisions in ways that may obscure underlying financial distress — earnings calls, restructuring disclosures and board-level communications will serve as key defense evidence, say attorneys at Akerman.

  • Where The Preemption Fight Over Prediction Markets Stands

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    While the Third Circuit's recent ruling in Kalshi v. Flaherty remains a significant win for the federal government in its quest to regulate prediction markets, the Fourth, Sixth and Ninth Circuits appear more skeptical, indicating that this fight is likely headed for the Supreme Court, says Johnny ElHachem at Holland & Knight.

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