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Securities
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August 05, 2025
Trump-Tied SPAC Exec Rips SEC Suit After Deal Talks Fizzle
The former CEO of the special-purpose acquisition company that took President Donald Trump's social media platform public has renewed his bid to dismiss the U.S. Securities and Exchange Commission's suit alleging he failed to timely alert investors to the prospective deal after settlement talks broke down.
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August 05, 2025
Ex-Wells Fargo Adviser Fights $400K Award In 1-Day Arbitration
A former Wells Fargo financial adviser asked a North Carolina federal court Monday to vacate a nearly $400,000 arbitration award entered against him, alleging the one-day merits hearing was rushed and ignored key evidence.
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August 05, 2025
Chancery Sends Steel Co.'s Fraudulent Transfer Suit To Trial
A steel product company's claims that a bankrupt former customer, for which it was also serving as a creditor, fraudulently transferred away millions that could have covered its debts must go to trial, a Delaware vice chancellor ruled on Tuesday.
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August 05, 2025
Binance Founder Seeks Exit From FTX $1.76B Clawback Suit
Former Binance CEO Changpeng Zhao asked a Delaware bankruptcy judge to dismiss him from a clawback suit filed by the estate of bankrupt crypto exchange FTX seeking to recover $1.76 billion it says FTX illegally transferred before its collapse two years ago, saying the transaction was outside the court's jurisdiction.
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August 05, 2025
Lottery.com SPAC Exec Wants Info From California Fraud Case
A Manhattan federal judge said Tuesday that he will weigh a request by a special purpose acquisition company CEO accused of fraud in a merger involving Lottery.com Inc. to have New York prosecutors provide discovery from a California criminal case.
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August 05, 2025
Tesla Hit With Suit Over Autonomous Vehicle Issues
A Tesla Inc. investor has launched a proposed securities class action against the company in Texas federal court, claiming it overhyped its autonomous driving vehicles despite flaws that led to regulatory and legal blowback, including a recent $329 million verdict involving the Autopilot feature.
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August 04, 2025
5th Circ. Says Appeal Over Mexican Bank Discovery Looks Moot
The Fifth Circuit pushed a Mexican businessman to explain how his appeal was not moot after a special master was appointed to review documents relating to an alleged fraud against Mexican financial institutions, saying Monday the businessman has seemingly already gotten the relief he sought.
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August 04, 2025
Vestis Shareholder Drops Suit Over Growth Plan Statements
A Vestis Corp. shareholder on Monday dropped his latest attempt to hold current and former executives and board members liable for allegedly breaching their fiduciary duties by making false and misleading statements about the uniform and workplace supply provider's financial condition and growth prospects.
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August 04, 2025
4 Firms Build $558M Crypto Treasury With Telegram Token
Guided by Perkins Coie LLP and Brownstein Hyatt Farber Schreck, Verb Technology Co. Inc. announced Monday a $558 million private placement deal to stockpile the Telegram-afflilated TONcoin token.
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August 04, 2025
Kalshi Incurs 1st Loss In Quest To Avoid State Scrutiny
A Maryland federal judge won't bar the state's gaming regulators from taking action over Kalshi's sports event contracts for the time being, finding the trading platform hasn't shown that Congress specifically intended to preempt state gambling laws when it passed federal derivatives regulation.
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August 04, 2025
Rocket Cos. Investor Drops Mich. Derivative Suit
An investor in the parent company of online mortgage lender Rocket Mortgage has dropped derivative allegations that the company's brass concealed a loan demand downturn a week after a proposed shareholder class action making similar claims was voluntarily tossed.
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August 04, 2025
Chancery Bars 'D-Day' Data Block By Nielsen Holdings Spinoff
A Delaware vice chancellor on Monday permanently barred Nielsen Holdings Ltd. spinoff NIQ from carrying out a "fairly blatant" plan to cut off its parent and a competitor from accessing its data, a move the spinoff purportedly described as "D-Day."
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August 04, 2025
Chancery Spreading Workload, Automating Case Assignments
Citing in part efforts to balance jurist workloads, Delaware's ever-slammed Court of Chancery reported plans on Monday to field a new, automated case assignment regime in September that will pull more factors into the mix when distributing new cases.
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August 04, 2025
Coinbase Moves To End Oregon's Post-SEC Enforcement Suit
Coinbase Inc. is asking a federal judge to throw out a lawsuit accusing the company of putting Oregonians at financial risk through the operation of an unregistered securities platform, arguing that the state's attorney general is not the proper authority to bring such a lawsuit.
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August 04, 2025
NY Atty Found Guilty Of Duping Lender Who Backed Lien Biz
A Manhattan federal jury on Monday convicted a former compliance lawyer of pilfering from a $20 million line of credit extended to his tax-lien business by a subsidiary of Emigrant Bank.
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August 04, 2025
Hair Care Brand Olaplex Settles IPO Investors' Suit For $47.5M
Olaplex Holdings Inc. has reached a $47.5 million settlement with investors to resolve a proposed class action alleging that the hair care brand's initial public offering documents did not disclose that the European Union had banned a controversial ingredient called lilial, which would affect Olaplex's main product offering.
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August 04, 2025
Crypto Exchange Bullish Launches Plans For $599M IPO
Venture-backed crypto exchange Bullish plans to raise roughly $599 million in an upcoming initial public offering, according to a Monday statement indicating that it intends to offer 20.3 million shares priced between $28 and $31 per share.
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August 04, 2025
Plaintiff Bar Urges FINRA To Reject Industry's Arbitration Recs
The Public Investors Advocate Bar Association on Monday urged the Financial Industry Regulatory Authority to reject industry recommendations to loosen its arbitration rules, calling on the brokerage industry regulator to "resist pressure from industry groups seeking to dilute hard-won safeguards."
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August 04, 2025
Ex-CNBC Pundit Gets 5 Years For $2.7M Investor Fraud
A California federal judge sentenced former frequent CNBC guest James Arthur McDonald Jr. to five years in prison Monday for defrauding investors out of at least $2.7 million after he admitted he "betrayed" some of his close friends as part of his scam.
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August 04, 2025
Investors Say Novo Nordisk Misled Them Over Drug Demand
Novo Nordisk was hit with a proposed securities class action in New Jersey federal court alleging the company misled investors over its revenue outlook for 2025 by allegedly overstating the likelihood patients would switch to its branded diabetes and weight loss drugs.
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August 04, 2025
Catching Up With Delaware's Chancery Court
Last week at the Delaware Court of Chancery, insurance brokerage and risk management giant Marsh & McLennan Cos. sought injunctive relief in a new suit accusing U.S. affiliates of London-based Howden Holdings Ltd. of a poaching scheme that involved over 100 M&M employees resigning on July 21.Â
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August 04, 2025
FinCEN Urges Industry To Stay 'Vigilant' On Crypto ATM Fraud
The U.S. Department of the Treasury's Financial Crimes Enforcement Network on Monday cautioned about rising fraud involving crypto ATMs, saying criminals are increasingly using the kiosks to launder money and scam vulnerable consumers, especially seniors.
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August 04, 2025
Rising Star: Gibson Dunn's Michael J. Kahn
Michael Kahn of Gibson Dunn & Crutcher LLP planted the seed of a question that made its way up to the U.S. Supreme Court and won his client Slack Technologies Inc. reprieve from a shareholder class action, earning him a spot among the securities attorneys under age 40 honored by Law360 as Rising Stars.
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August 04, 2025
Cold Storage Co. Duped Investors Before 2024 IPO, Suit Says
A pension fund has sued Lineage Inc., a cold-storage real estate investment trust, and several of its executives in Michigan federal court over the company's initial public offering, the largest of 2024, alleging the REIT and its top brass misled investors about softening demand and unsustainable pricing.
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August 04, 2025
UBS To Pay DOJ $300M To Settle Inherited Credit Suisse Case
Swiss bank UBS said Monday it has agreed to pay the U.S. Department of Justice $300 million to settle outstanding obligations inherited from the mortgage-backed securities business of Credit Suisse, the lender it acquired in 2023.
Expert Analysis
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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.
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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.
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Traversing The Shifting Sands Of ESG Reporting Compliance
Multinational corporations have increasingly found themselves between a rock and a hard place attempting to comply with EU and California ESG requirements while not running afoul of expanding U.S. anti-ESG regimes, but focusing on what is material to shareholder value and establishing strong governance can help, say attorneys at MoFo.
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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.
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Ban On Reputation Risk May Help Bank Enforcement Defense
The Comptroller of the Currency and Federal Deposit Insurance Corp.’s 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.
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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.
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Assessing Market Manipulation Claims In Energy Markets
Today's energy markets are conducive to sudden price changes, breakdowns in pricing linkages and substantial shifts in trading patterns, so it's necessary to take a holistic view when evaluating allegations of market manipulation, say Maximilian Bredendiek, Greg Leonard and Manuel Vasconcelos at Cornerstone Research.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.
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Limit On SEC Enforcement Authority May Mean Fewer Actions
Following a recent U.S. Securities and Exchange Commission final rule revoking the Enforcement Division director's long-standing authority to issue formal investigation orders, it's clear the division is headed for a new era of limited autonomy, marked by a significantly slower pace of SEC investigations, say attorneys at Ballard Spahr.
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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.