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Asset Management
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September 19, 2025
Texas AG Appeals Ruling That Blocked ESG Proxy Law
Texas Attorney General Ken Paxton is appealing to the Fifth Circuit a federal judge's order temporarily blocking a new state law requiring proxy advisory firms to disclose when their advice stems from factors such as diversity and inclusion.
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September 19, 2025
Dems Want Answers On Delayed FinCEN Adviser Rule
Sen. Elizabeth Warren and other congressional Democrats have pressed Treasury Secretary Scott Bessent on the department's decision to postpone a rule they said addresses a money laundering vulnerability of the U.S. investment adviser sector, saying the decision puts national security and the economy at risk.
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September 19, 2025
FTX Trust Says Bankruptcy Laws Apply To Binance Founder
The recovery trust created by the Chapter 11 plan of cryptocurrency exchange FTX told a Delaware judge late Thursday that the bankruptcy court has jurisdiction over Binance and its founder in a $1.76 billion clawback suit, and that bankruptcy laws apply to entities outside the United States.
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September 19, 2025
Co. Tied To Lehman Ex-Restructuring Chief Faces Loan Suit
A holding company linked to Lehman Brothers' post-2008 era restructuring professional defaulted on a commercial loan secured by a large office building and now owes a reinsurer about $19.5 million, according to a lawsuit brought in North Carolina's business court.
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September 19, 2025
Union's $3.5M OT Pension Suit Win Overturned At 3rd Circ.
The Third Circuit overturned Friday a pipe fitters and plumbers union local's $3.5 million win in a dispute with a commercial real estate company over pension contributions related to overtime hours, holding that the parties' collective bargaining agreements didn't obligate the employer to pay additional benefits.
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September 19, 2025
Sirva Sues Ex-General Counsel Over $2.6M Fund Transfers
Moving giant Sirva has sued the ex-general counsel of a predecessor company, seeking a declaration from a New Jersey federal court that it is the rightful owner of $2.6 million in funds it says the lawyer sent to a bank account he controls for an investment entity.
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September 19, 2025
Ellenoff-Led SPAC Among 3 IPOs Seeking Total $450M
Galata Acquisition Corp. II, a special purpose acquisition company formed by Callaway Capital Management, began trading Friday after raising $150 million by offering 15 million units at $10.
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September 18, 2025
Calif. Judge Pauses US Suit Over $380M PetroSaudi Award
A California federal judge has paused the U.S. government's lawsuit targeting a PetroSaudi unit's $380 million arbitral award over its purported connection to funds embezzled from Malaysia, saying uncertainty remains over related proceedings in the Cayman Islands and Barbados.
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September 18, 2025
SafeMoon Ch. 7 Trustee Pitches $12M Settlement
Cryptocurrency asset company SafeMoon US LLC's Chapter 7 trustee has asked a Utah bankruptcy judge to approve a settlement for a class action alleging the company defrauded investors, saying the deal to pay plaintiffs at least $12 million is fair and wise.
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September 18, 2025
Conn. Banking Chief Orders $4.9M Restitution In School Fraud
Connecticut's banking commissioner has ordered two companies connected to Putnam Science Academy, a private high school in northeastern Connecticut, and two of its leaders to repay investors more than $4.9 million for allegedly perpetrating an affinity fraud scheme.
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September 18, 2025
Tech Funds Sue Crypto Data Co. Over 'Pay-to-Play' Deal
Digital asset data firm Lukka Inc. has been sued in Delaware's Chancery Court by two London-based investment funds seeking to halt the firm's "pay-to-play" financing scheme they say would strip away their rights and senior equity position.
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September 18, 2025
Trading Adviser, Convicted Owner Hit With $2.8M CFTC Fine
A commodity trading adviser and pool operator who pled guilty in Florida federal court to orchestrating a novel cryptocurrency-related scheme to cheat investors has agreed to pay more than $2.8 million as part of a settlement with the Commodity Futures Trading Commission.
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September 18, 2025
Senate Confirms Trump's Pick To Lead DOL Benefits Arm
The Senate confirmed fiduciary liability insurance expert Daniel Aronowitz on Thursday to lead the U.S. Department of Labor's employee benefits division, which oversees regulation and enforcement of employer-provided health and retirement plans.
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September 18, 2025
Sports Group Brera Raises $300M To Launch Solana Treasury
Irish sports ownership holding company Brera Holdings, led by Lowenstein Sandler LLP, on Thursday announced that it plans to rebrand as a digital asset treasury company called Solmate following a $300 million private fundraise.
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September 18, 2025
11th Circ. Appears Poised To Back MetLife Benefits Denial
The Eleventh Circuit seemed unpersuaded Thursday by a push to overturn MetLife's denial of death benefits to a worker who died days after she broke her leg and ankle exiting a vehicle, with judges zeroing in on plan language that barred coverage when contributing illnesses were involved.
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September 18, 2025
Mich. Justices Won't Delay Arguments Amid Shutdown Worry
The Michigan Supreme Court on Wednesday said it would not push back oral arguments for two cases up to be heard next month, despite the state Attorney General's Office's concerns that their counsel wouldn't be able to participate because of a potential government shutdown.
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September 18, 2025
Group Of US Investors To Buy TikTok, Plus More Rumors
A consortium of big-name buyers including Oracle, Silver Lake and Andreessen Horowitz are rumored to be taking a majority stake in TikTok after a long search to find the app a U.S. owner; Paramount Skydance is reportedly ready to make an offer for Warner Bros. Discovery; and private equity shop CVC is close to inking a $1.5 billion deal to acquire web-hosting provider Namecheap. Here, Law360 breaks down these and other deal rumors from the past week.
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September 18, 2025
Trump Asks High Court To Let Him Remove Fed's Cook
President Donald Trump asked the U.S. Supreme Court on Thursday to allow him to move forward with firing Federal Reserve Gov. Lisa Cook, escalating a fight over presidential removal power that will test the boundaries of the central bank's traditional independence.
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September 17, 2025
NCR Pushes For Full 11th Circ. Review In Pension Payout Spat
Software company NCR Corp. asked the full Eleventh Circuit on Tuesday to examine a pension payout fight with former executives in the wake of a three-judge panel's ruling last month that the company can't issue lump-sum payments to plan participants as alternatives to promised life annuities.
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September 17, 2025
Credit Investment Firm Sues UBS Over Naked Juice Loan Deal
A Connecticut branch of UBS faces a credit-investment firm's claims that UBS breached the terms of a loan participation agreement funding bottled juice company Naked Juice LLC after a restructuring of the agreement resulted in less favorable terms for the limited partnership.
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September 17, 2025
VC-Backed Cybersecurity Biz Netskope Prices $908M IPO
Netskope, a cybersecurity firm with venture capital backing, is set to begin trading on the Nasdaq Thursday after pricing a $908 million initial public offering, at the top of its upwardly revised range.
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September 17, 2025
Hospital Agrees To End Retirement Plan Fee, Investment Suit
A New York hospital system told a federal court Wednesday it will end a proposed class action alleging it failed to remove underperforming investment options from its retirement plan and keep an eye on administrative costs, losing millions of dollars of employees' savings.
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September 17, 2025
Noteholders Say $219M Mexico Claim Can Proceed
Noteholders owed hundreds of millions of dollars by Mexican television producer TV Azteca are defending their $219 million investor-state claim against Mexico after its courts allegedly stymied collection efforts, saying any procedural deficiency in their claim arose as a result of the Mexican court's actions.
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September 17, 2025
Chancery Approves $30M Match.com Spinoff Suit Settlement
A Delaware vice chancellor approved a $30 million mediated settlement Wednesday to resolve a five-year dispute over the fairness of Match.com's 2019 reverse spinoff from Barry Diller-controlled IAC/Interactive, with stockholder attorneys taking home $6.9 million.
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September 17, 2025
SEC Policy Shift Could Foreclose Some Investor Class Actions
The U.S. Securities and Exchange Commission issued a policy statement Wednesday that allows the use of mandatory arbitration by new publicly traded companies as its chief seeks to "make IPOs great again," but Democrats warned the move could shut the door to shareholder class actions.
Expert Analysis
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Series
Law School's Missed Lessons: Navigating Client Trauma
Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.
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Yacht Broker Case Highlights Industry Groups' Antitrust Risk
The Eleventh Circuit recently revived class claims against the International Yacht Brokers Association, signaling that commission-driven industries beyond real estate are vulnerable to antitrust challenges after the National Association of Realtors settled similar allegations last year, says Miles Santiago at the Southern University Law Center and Alex Hebert at Southern Compass.
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Opinion
4 Former Justices Would Likely Frown On Litigation Funding
As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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Quantifying Trading-Based Damages Using Price Impact
The U.S. Securities and Exchange Commission will likely increasingly rely on price impact analyses to demonstrate pecuniary harm from trading-related misconduct, meaning measuring price impact will be helpful in challenging SEC disgorgement, determining appropriate remedies, and assessing loss causation and damages in private litigation, says Vyacheslav Fos at Boston College and Erin Smith at Compass Lexecon.
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Congress Crypto Movement Could Bring CFTC 'Clarity' At Last
The Clarity Act's arrival at the House floor during "Crypto Week" in Congress demonstrates enduring bipartisan support for legislation addressing digital assets and the Commodity Futures Trading Commission's important role in a future regulatory structure, say attorneys at DLA Piper.
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Stablecoin Bills Present Opportunities, Challenges For Banks
Stablecoin legislation that Congress is expected to adopt in the coming weeks — the GENIUS and STABLE Acts — would create openings for banks to engage in digital asset activities, but it also creates a platform for certain tech-savvy nonbanks to directly compete, say attorneys at Arnold & Porter.
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How Attys Can Use AI To Surface Narratives In E-Discovery
E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.
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A Look At Florida's New Protected Series LLC Legislation
A new law in Florida enhances the flexibility of using limited liability companies as the entities of choice for most privately held businesses, moving Florida into a small group of states with reliable uniform protected series legislation for series LLCs, says Louis Conti at Holland & Knight.
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Gauging The Risky Business Of Business Risk Disclosures
With the recent rise of securities fraud actions based on external events — like a data breach or environmental disaster — that drive down stock prices, risk disclosures have become more of a sword for the plaintiffs bar than a shield for public companies, now the subject of a growing circuit split, say attorneys at A&O Shearman.
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Series
Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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Series
NY Banking Brief: All The Notable Legal Updates In Q2
In the second quarter of the year, New York utilized every available tool to fill gaps left by federal retrenchment from consumer finance issues, including sweeping updates to its consumer protection framework and notable amendments to cybersecurity rules, say attorneys at Steptoe.
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SEC Proposal Could Hurt Foreign Issuers' US Market Access
The U.S. Securities and Exchange Commission’s June call for feedback on potentially narrowing how it designates foreign private issuers of securities could ultimately result in significant new barriers for traders that rely on FPI accommodations to participate in U.S. markets, say attorneys at Gibson Dunn.
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DOJ's 1st M&A Declination Shows Value Of Self-Disclosures
The U.S. Department of Justice's recent decision not to charge private equity firm White Deer Management — the first such declination under an M&A safe harbor policy announced last year — signals that even in high-priority national security matters, the DOJ looks highly upon voluntary self-disclosures, say attorneys at Perkins Coie.
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Series
Law School's Missed Lessons: Practicing Self-Care
Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard​​​​​​​ at MG+M.
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Nev. Steps Up Efforts To Attract Incorporations With New Law
Recent amendments to Nevada corporate law, which will narrow controlling stockholders’ liability, streamline mergers and allow companies to opt out of jury trials, show the interstate competition to attract new and reincorporating companies is still heating up, say attorneys at Simpson Thacher.