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Securities
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July 29, 2025
SEC Tosses Broker's NSCC Margin Rule Challenge
The U.S. Securities and Exchange Commission has dismissed a bid by Alpine Securities Corp. to challenge heightened margin requirements from the National Securities Clearing Corp., with the commission finding the rules are too broadly applicable to warrant review as a denial of access.
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July 29, 2025
SEC Greenlights 'In-Kind' Redemptions For Crypto ETPs
The U.S. Securities and Exchange Commission voted Tuesday to approve orders to allow cryptocurrency-based exchange-traded products to use in-kind creations and redemptions, aligning with more traditional ETPs.
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July 29, 2025
Pa. Bank Slams Ponzi Investors' 'Search For Scapegoats'
A Pennsylvania-based community bank has urged a federal judge to dismiss a proposed class action accusing it of enabling a $155 million Ponzi scheme carried out by a Pennsylvania dentist and a Texas attorney, arguing that the case attempts to unconstitutionally import Texas securities law into the Keystone State.
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July 29, 2025
Ocugen Beats Investor Suit Over Financial Controls
Biopharmaceutical company Ocugen Inc. on Tuesday won permanent dismissal from an investor's class action accusing it of concealing weak financial controls that led to it refiling accounting statements for several periods, with a Pennsylvania federal judge determining that Ocugen's stock price recovered from the announcement it had erred in its reports.
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July 29, 2025
Hawk Tuah Meme Coin Buyers Seek To Combine Their Suits
Two groups of buyers of the viral "Hawk Tuah" meme-themed cryptocurrency on Monday asked a Brooklyn federal judge to combine their respective securities suits against the project's promoters and developers.
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July 29, 2025
Chancellor Partly Reverses Toss Of Pioneer Merger Doc Suit
A Pioneer Natural Resources stockholder has won a battle but lost the war in a Delaware Court of Chancery review of a senior magistrate's denial of expanded access to books and records on Pioneer's $59.5 billion May 2024 merger with Exxon-Mobil.
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July 29, 2025
Prime Core Ch. 11 Trust Seeks Return Of $2.1M In Transfers
The litigation trust for Prime Core Technologies has sued to claw back $2.1 million in cash and cryptocurrency paid out to customers in the weeks before its bankruptcy filing, saying other creditors are facing a serious recovery shortfall worsened by the payments.
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July 29, 2025
Crypto Mixer Execs To Change Plea In Samourai Wallet Case
The two co-founders of crypto mixer Samourai Wallet told a New York federal judge on Tuesday that they intend to change their not guilty pleas after initially fighting charges that they facilitated over $2 billion in unlawful transactions.
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July 29, 2025
REIT Shareholders File 'Improper Lending' Suit Against Execs
Two Arbor Realty Trust Inc. shareholders hit several of the real estate investment trust's executives, including its president and CEO Ivan Kaufman, with a derivative suit on Tuesday alleging they made the REIT use "improper lending practices" that saddled the company "with a severely distressed loan portfolio."
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July 29, 2025
Flywire Hid Impact Of Student Visa Restrictions, Investor Says
Payment technology company Flywire Inc. has been hit with a proposed shareholder class action in New York federal court accusing the company of attempting to minimize the impact of international student visa restrictions, particularly in Australia and Canada, on its revenues.
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July 29, 2025
BofA Accuses FDIC Of $250M Rate Flip-Flop In Premiums Suit
Bank of America has accused the Federal Deposit Insurance Corp. of making a "startling" about-face in their long-running deposit insurance dispute in Washington, D.C., federal court, claiming the agency is pushing to extract hundreds of millions in extra interest after the bank paid what it says was the full $657 million judgment owed.
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July 29, 2025
Del. Justices Undo Amazon's Chancery Win In Docs Row
A Delaware Supreme Court panel has reversed a Court of Chancery decision tossing a suit from Amazon stockholders seeking company documents to probe alleged anticompetitive behavior, wrongdoing and mismanagement, finding the lower court declared the claims "overbroad" without considering their credibility.
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July 29, 2025
Oft-Penalized Deutsche Bank Finds New GC From Freshfields
Deutsche Bank AG on Tuesday said a senior partner at Freshfields LLP who specializes in corporate criminal defense will become its new general counsel on Sept. 15.
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July 29, 2025
SEC, Crypto Bank Veteran Joins DeFi Platform As GC
A former senior attorney with the U.S. Securities and Exchange Commission, who most recently served as cryptocurrency bank Anchorage Digital's general counsel, is taking her experience navigating federal regulations and institutional demands to decentralized finance infrastructure platform Veda, the firm announced Tuesday.
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July 29, 2025
Rising Star: Akin's Kate Shapiro
Kaitlin D. Shapiro of Akin Gump Strauss Hauer & Feld LLP successfully defended Armistice Capital Master Fund Ltd. from a suit demanding it return $11 million in short-swing profits, and helped another client beat a Delaware Chancery Court action over Genomic Health Inc.'s $2.8 billion sale to Exact Sciences Corp., earning her a spot among securities law practitioners under age 40 honored by Law360 as Rising Stars.
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July 29, 2025
NC Engineer Says Green Energy Co. Withheld Stock Options
A former engineer at a North Carolina climate technology company sued his ex-employer, claiming the company and its board refused to let him exercise his stock options after he left for another green energy business.
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July 29, 2025
Court Didn't Justify Seals In OneCoin Fraud, 2nd Circ. Says
A New York district court inadequately justified its decision to seal exhibits attached to a sentencing memorandum filed by an accomplice in the global OneCoin cryptocurrency scheme, the Second Circuit ruled in a published opinion, ordering the court to reconsider.
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July 28, 2025
Labaton Tapped To Lead Venture Global Investor Suit
Labaton Keller Sucharow LLP will lead a proposed class of investors in energy company Venture Global Inc. in a suit alleging the company hid production issues and cost overruns at its Louisiana natural gas liquefaction and export projects ahead of its $1.75 billion initial public offering in January.
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July 28, 2025
EXp Holdings Accused Of 'Bad Faith Inaction' In Del. Suit
An attorney for stockholders of real estate brokerage eXp World Holdings Inc. told Delaware's chancellor Monday the company's response to long-running sexual assault allegations was an example of "bad faith inaction" rather than good faith responses.
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July 28, 2025
Rocket Cos. Investor Ends Fraud Suit After Class Cert. Denial
A pension fund that had previously attempted to lead a suit in Michigan federal court against Rocket Companies Inc. has agreed to drop all its claims in the shareholder litigation accusing the mortgage business of concealing a downturn in loan volume.
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July 28, 2025
SEC Pushes $630K Penalty Against Atty In Stock Fraud Suit
The U.S. Securities and Exchange Commission renewed its motion Monday for a more than $630,000 civil penalty and final judgment against securities attorney Henry Sargent, after years of litigation in Massachusetts federal court alleging he orchestrated a sham merger, saying Sargent "has never recognized the wrongfulness of his conduct."
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July 28, 2025
LuxUrban Investor Suit Over Post-IPO Business Trimmed
A New York federal judge trimmed a shareholder class action accusing LuxUrban Hotels Inc. and two of its executives of misleading investors about the company's financial reporting and partnerships with other property owners, saying investors have not adequately alleged that the executives knew about the misstated financials.
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July 28, 2025
Fed Committee Meetings Will Remain Closed, Judge Rules
A D.C. federal judge shot down a President Donald Trump ally's bid to open up the Federal Reserve's Federal Open Market Committee meetings to the public Monday, questioning whether the suit was a stunt to gin up interest in his new "anti-DEI" investment fund.
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July 28, 2025
SEC Gets Early Win In Fraud Case Against Ex-Citi, Cetera Rep
A New York federal court has granted the U.S. Securities and Exchange Commission a summary judgment win in the regulator's securities fraud case against a former Citigroup and Cetera registered representative, in a case accusing her of stealing $2.4 million from an elderly client.
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July 28, 2025
Fiserv Misled Investors On Platform Growth, Suit Says
Fiserv has been hit with a proposed shareholder class action in New York federal court accusing the payment processing technology company of artificially inflating its growth numbers through the forced migration of customers from its older platform to a newer, more expensive system.
Expert Analysis
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As SEC, CFTC Retreat, Who Will Police The Crypto Markets?
As the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission pull back from policing the crypto markets, the Federal Trade Commission and Consumer Financial Protection Bureau have the authority to pick up the slack — although recent events raise doubts that they will do so, say attorneys at Skadden.
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Calif. May Pick Up The Slack On Foreign Bribery Enforcement
The California attorney general recently expressed an interest in targeting foreign bribery amid a federal pause in Foreign Corrupt Practices Act enforcement, so companies should calibrate their compliance programs to mitigate against changing risks, especially as other states could follow California’s lead, say attorneys at Gibson Dunn.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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A Look At M&A Trends In An Uncertain Deal Environment
Dealmakers are adopting more cautious and deliberate merger and acquisition practices, such as earnout agreements, joint ventures and strategic partnerships that mitigate risk and bridge valuation gaps, amid the slower pace so far in 2025, says Louis Lehot at Foley & Lardner.
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Opinion
Ripple Settlement Offers Hope For Better Regulatory Future
The recent settlement between the U.S. Securities and Exchange Commission and Ripple — in which the agency agreed to return $75 million of a $125 million fine — vindicates criticisms of the SEC and highlights the urgent need for a complete overhaul of its crypto regulation, says J.W. Verret at George Mason University.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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FDIC Shift On ALJs May Show Agencies Meeting New Norms
The Federal Deposit Insurance Corp.’s recent reversal, deciding to not fight a Kansas bank’s claim that the FDIC's administrative law judge removal process is unconstitutional, shows that independent agencies may be preemptively reconsidering their enforcement and adjudication authority amid executive and judicial actions curtailing their operations, say attorneys at Snell & Wilmer.
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Opinion
The SEC Must Protect Its Best Tool For Discovering Fraud
By eliminating the consolidated audit trail's collection of most retail customer information, the U.S. Securities and Exchange Commission may squander a once-in-a-generation opportunity to deter securities market fraud and abuse, something new Chair Paul Atkins must ensure doesn't happen, says former SEC data strategist Hugh Beck.
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Meta Case Brings Customer-Facing Statements Issue To Fore
Now that Facebook v. Amalgamated Bank has returned to California federal court after the U.S. Supreme Court in November found it improvidently granted certiorari, it will be worth watching whether customer-facing communications, such as Facebook's privacy policies, are found to be made in connection with the sale of a security, says Samuel Groner at Fried Frank.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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How Latin American Finance Markets May Shift Under Trump
Changes in the federal government are bringing profound implications for Latin American financial institutions and cross-border financing, including increased competition from U.S. banks, volatility in equity markets and stable green investor demand despite deregulation in the U.S., says David Contreiras Tyler at Womble Bond.
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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2 Del. Rulings Reinforce Proof Needed For Records Demands
Two recent Delaware Court of Chancery decisions involving Amazon and Paramount Global illustrate the significance of the credible basis standard on books and records requests, underscoring that stockholders seeking to investigate wrongdoing must come forward with actual evidence of misconduct — not mere allegations, say attorneys at Cleary.