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Tech-Focused SPACs Raise $408M Combined In New Listings

By Tom Zanki

A pair of technology-focused special-purpose acquisition companies debuted on Wednesday after pricing two initial public offerings that raised $408 million combined, joining a wave of new SPAC listings, under guidance from five law firms.

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Anti-Aging Biotech Startup Minovia Inks $180M SPAC Merger

By Tom Zanki

Minovia Therapeutics Ltd., an Israeli startup developing treatments for age-related decline, plans to go public in the U.S. at a $180 million valuation by merging with special purpose acquisition company Launch One Acquisition Corp., both parties announced Wednesday.

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Fed Rolls Out Plan To Relax Leverage Rule For Biggest Banks

By Jon Hill

The Federal Reserve on Wednesday kicked off an effort to ease a key leverage requirement for the biggest U.S. banks, advancing a highly anticipated proposal that officials said could free up bank balance-sheet capacity to bolster the U.S. Treasury market. 

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Class Certified In Suit Over Oil Market's Historic Price Crash

By Katryna Perera

A Chicago federal judge has certified a class of futures traders who claim Vega Capital London Ltd. and 12 of its traders caused a historic oil crash with an aggressive price manipulation scheme that resulted in oil futures going negative for the first time, saying the plaintiffs have met all the requirements for certification.

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O'Melveny Forms Special Credit And Liability Mgmt. Group

By Andrea Keckley

O'Melveny & Myers LLP has launched a special credit and liability management group, announcing the move Tuesday as a reflection of "growing client demand for integrated, end-to-end support across the credit cycle, particularly as capital solutions become increasingly complex and bespoke."

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Analysis

The 5 Big Enforcement Trends White Collar Attys Must Know

By Phillip Bantz

The Trump administration has made clear its intent to prioritize U.S. interests, eliminate transnational cartels and cut government fraud, waste and abuse — but questions remain about the administration’s approach to foreign bribery, crypto, public corruption, self-disclosure and clemency as we head into the second half of the year.

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Brief

SEC Grants Brokers More Time On Customer-Protection Rule

By Tom Zanki

The U.S. Securities and Exchange Commission agreed Wednesday to extend until late June 2026 the time broker-dealers have to comply with recent amendments to a regulation protecting customers, saying that firms need more time to upgrade their operations.

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Adviser's $300M Ponzi Dismissal Bid 'Specious,' Investor Says

By Chart Riggall

An investor who was roped into what the federal government has called a $300 million Ponzi scheme asked a Georgia federal judge Wednesday to keep their suit alive, arguing they shouldn't be subject to heightened pleading standards for a fraud claim they never made against a Peach State financial adviser.

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Do Kwon Trial Judge Has Eye On Federal Crypto Legislation

By Pete Brush

Federal legislation that could codify stablecoins as payment-related assets — not securities — has the potential to impact the Manhattan U.S. attorney's $40 billion criminal case against Terraform founder Do Kwon, a federal judge said Wednesday.

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Coinme Fined $300K In Landmark Calif. Enforcement Action

By Rae Ann Varona

Crypto kiosk operator Coinme Inc. has agreed to pay a $300,000 fine to resolve findings that it violated California's kiosk transaction limits and failed to include certain disclosures on receipts, the California Department of Financial Protection and Innovation announced Wednesday.

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SEC Says Banned Investment Adviser Ran Crypto Fund Fraud

By Emilie Ruscoe

A San Diego man and his dissolved company face U.S. Securities and Exchange Commission allegations that they improperly raised $413,000 from at least 11 investors on the strength of promises they'd put the money into a pooled investment vehicle for crypto assets.

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How Dfinity Timeliness Ruling Can Aid Crypto Issuers

A California federal court's recent dismissal of a class action against Dfinity, holding that the claims were time-barred by the Securities Act's three-year statute of repose, provides a useful defense for cryptocurrency issuers, which often solicit investments years before minting and distributing the associated tokens, say attorneys at Paul Weiss.

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A Guide To Permanent Capital Vehicles As Access Widens

Recent regulatory and legislative actions are making it easier for retail investors to access permanent capital vehicles like closed-end, interval, tender offer and open-end funds, which each offer distinct advantages that are important to review, say attorneys at Mayer Brown.

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The CFTC Is Shaking Up Sports Betting's Legal Future

The sports betting industry faces a potential sea change amid recent state and federal actions across the regulatory landscape that have expanded access to sporting event contracts against the backdrop of waning Commodity Futures Trading Commission opposition, says Nick Covek at Foley & Lardner.

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Series

Law School's Missed Lessons: Rejecting Biz Dev Myths

Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.

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DOJ Sues Md. Federal Judges Over 'Lawless' Habeas Orders

By Ali Sullivan

The Trump administration is suing the Maryland federal district court and all of its judges over a standing order that temporarily staves off the deportation of detained noncitizens who file habeas petitions.

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3rd Circ. Pick Emil Bove Says He's 'Not Anybody's Henchman'

By Courtney Bubl茅

Emil Bove, nominee for the Third Circuit, who previously served as President Donald Trump's criminal attorney and was a top acting official at the U.S. Department of Justice earlier this year, where he took various controversial actions, made his case on Wednesday for judicial confirmation.

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Watchdog Targets US Atty Over Arrests, Probes Of NJ Officials

By Jake Maher

The legal ethics watchdog Campaign for Accountability on Wednesday accused interim U.S. Attorney for New Jersey Alina Habba of an "abuse of power" over her office's recent investigations and arrests of New Jersey officials and called for an ethics investigation.

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2nd Circ. Blocks Reed Smith Doc Turnover Order In Eletson Row

By Emily Sawicki

The Second Circuit on Wednesday granted Reed Smith LLP's emergency motion to stay a Manhattan federal judge's order to turn over client files amid a conflict over the legitimate ownership of international shipping company Eletson, which is in a dispute with competitor Levona.

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Analysis

TCPA Litigants Brace For 'Seismic Shift' After Deference Blow

By Allison Grande

The U.S. Supreme Court's backing of broad judicial review for the crush of regulatory orders interpreting the Telephone Consumer Protection Act is poised to turn the litigation landscape on its head, as key statutory determinations that have long been viewed as settled matters are suddenly ripe for scrutiny. 

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Paxton Deputy Accused Of Pressuring Impeachment Witnesses

By Catherine Marfin

Texas Attorney General Ken Paxton's second-in-command tampered with witnesses during Paxton's impeachment, fabricated sexual harassment allegations and misused state funds, according to a state bar complaint and federal lawsuit filed by two of Paxton's former top deputies.

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Court Halts Trump Order Curbing Federal Union Bargaining

By Beverly Banks

Several federal agencies must stop enforcing a part of President Donald Trump's executive order that would ax labor contracts covering agencies that have "national security" aims, a California federal judge ruled, finding unions showed they would suffer irreparable harm by losing collective bargaining rights.

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Brief

NJ Rep. McIver Pleads Not Guilty In ICE Facility Incident

By Carla Baranauckas

U.S. Rep. LaMonica McIver pled not guilty Wednesday in New Jersey federal court to assault and interference charges stemming from an incident at an immigration detention center in Newark on May 9.

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