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Expert Analysis

• A Look At Probabilistic Tracing After High Court's Slack Ruling

  

  Recent decisions following the U.S. Supreme Court's 2023 ruling in Slack v. Pirani have increased the difficulty of pleading Securities Act claims for securities issued in direct listings by rejecting the use of statistical probabilities to establish that share purchases were traceable to a challenged registration statement, says Jonathan Richman at Brown Rudnick.

• FDIC Rules Rollback Foretells More Pro-Industry Changes

  

  The Federal Deposit Insurance Corp.鈥檚 March withdrawal of Biden-era proposals to tighten brokered deposit rules and impose new corporate governance standards shows that acting chair Travis Hill鈥檚 commitment to reviewing regulations that may restrict growth and innovation for financial institution and fintech companies is unlikely to flag soon, say attorneys at Cooley.

• SEC Update May Ease Accredited Investor Status Verification

  

  The U.S. Securities and Exchange Commission recently opened a new avenue to verifying accredited investor status, which could encourage more private fund sponsors and other issuers to engage in a general solicitation with less fear that they will lose the offering's exemption from registration under the Securities Act, say attorneys at Simpson Thacher.

• Legal Ethics Considerations For Law Firm Pro Bono Deals

  

  If a law firm enters into a pro bono deal with the Trump administration in exchange for avoiding or removing an executive order, it has an ethical obligation to create a written settlement agreement with specific terms, which would mitigate some potential conflict of interest problems, says Andrew Altschul at Buchanan Angeli.

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  Playing Football Made Me A Better Lawyer

  

  While my football career ended over 15 years ago, the lessons the sport taught me about grit, accountability and resilience have stayed with me and will continue to help me succeed as an attorney, says Bert McBride at Trenam.

• What Del. Supreme Court LKQ Decision Means For M&A Deals

  

  The Delaware Supreme Court's recent decision in LKQ v. Rutledge greatly increases the enforceability of forfeiture-for-competition provisions, representing an important affirmation of earlier precedent and making it likely that such agreements will become more common in M&A transactions, say attorneys at Mayer Brown.

• 10 Arbitrations And A 5th Circ. Ruling Flag Arb. Clause Risks

  

  The ongoing arbitral saga of Sullivan v. Feldman, which has engendered proceedings before 10 different arbitrators in Texas and Louisiana along with last month's Fifth Circuit opinion, showcases both the risks and limitations of arbitration clauses in retainer agreements for resolving attorney-client disputes, says Christopher Blazejewski at Sherin and Lodgen.

• How High Court's Cornell Decision Will Affect ERISA Suits

  

  The U.S. Supreme Court's recent decision in Cunningham v. Cornell, characterizing prohibited transaction exemptions as affirmative defenses, sets the bar very low for initiating Employee Retirement Income Security Act litigation, and will likely affect many plan sponsors with similar service agreements, says Carol Buckmann at Cohen & Buckmann.

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  Power To The Paralegals: The Value Of Unified State Licensing

  

  Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.

• 1st Circ. Ruling May Slow SEC Retail Investment Advice Cases

  

  The First Circuit's recent ruling, finding the U.S. Securities and Exchange Commission did not substantiate its $93.3 million fine against a retail investment adviser, may raise the threshold on materiality findings in these cases and add a speed bump resulting in fewer such actions, say attorneys at Weil.

• 10 Soft Skills Every GC Should Master

  

  As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.

• How Proxy Advisory Firms Are Approaching AI And DEI

  

  Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.

• An Unrestrained, Bright-Eyed View Of Legal AI's Future

  

  Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.

• Ban On Reputation Risk May Help Bank Enforcement Defense

  

  The Comptroller of the Currency and Federal Deposit Insurance Corp.鈥檚 recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.

• Tracking The Evolution In Litigation Finance

  

  Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.