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Securities
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									September 23, 2025
									Laser Co. Mynaric Investors Get Final OK For $300K DealInvestors in laser communication company Mynaric AG have gotten a final nod for their $300,000 deal ending proposed class action claims the company covered up production delays despite allegedly knowing its revenue growth would later take a hit as a result. 
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									September 23, 2025
									SEC Accuses Russian Man Of Hacking Pump & Dump SchemeThe U.S. Securities and Exchange Commission hit a Russian national with a civil suit Monday, accusing him of hijacking hundreds of individual consumer brokerage accounts to run a $31 million pump-and-dump scheme with low-volume stocks and options. 
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									September 23, 2025
									Hedge Funds Call For CFTC To End Dual RegistrationA group representing the hedge fund industry is calling on the U.S. Commodity Futures Trading Commission to drop the need for industry participants to submit to agency oversight in cases where fund managers are already registered with the U.S. Securities and Exchange Commission, calling the dual registration requirement "costly" and "inefficient." 
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									September 23, 2025
									Stem Cell Co. Beats Investor Suit Over Failed Janssen CollabBiopharmaceutical company Fate Therapeutics Inc. has shed a proposed investor class action alleging it concealed manufacturing challenges, precipitating the blowup of a potentially lucrative partnership, after a San Diego federal judge found its investors failed to show how their losses were caused by the company's alleged misstatements. 
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									September 23, 2025
									Tether Objects To 'Unsound' Class Bid In Crypto Rigging SuitTether, Bitfinex and others have urged a New York federal judge not to grant certification to a class of investors accusing the digital asset companies of rigging the cryptocurrency market, arguing that the investors' expert presented an "unsound and unreliable" methodology for determining common impact, among other things. 
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									September 23, 2025
									Jenzabar Investor Faces Multiple Suit Challenges In Del.A Delaware vice chancellor pressed an attorney for a trust stockholder of educational software company Jenzabar Inc. Tuesday to explain how another state's court empowered it with standing to bring derivative claims against a Delaware chartered company. 
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									September 23, 2025
									Cybersecurity Co.'s Projections Were Inflated, Investor SaysCybersecurity company Fortinet was hit with a proposed securities class action accusing it of overstating an expected revenue boost related to customer software upgrades, saying its executives knew the projections were unrealistic. 
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									September 23, 2025
									Axsome Settles Investors' Drug Approval Suit For $7.8MBiopharmaceutical company Axsome Therapeutics Inc. and its shareholders have asked a New York federal court to approve a $7.75 million settlement to resolve investors' claims that Axsome hid issues related to gaining regulatory approval for its migraine drug. 
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									September 23, 2025
									Chair Of Puerto Rican Bank Pleads Guilty To $13.6M FraudThe chairman of the board of Puerto Rico-based Nodus International Bank has pled guilty to leading a scheme through which he and the bank's former CEO stole more than $13.6 million from Nodus and used it for their own benefit. 
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									September 23, 2025
									Insurer Needn't Cover $3.3M Securities Scam SettlementsAn insurer for a securities broker-dealer does not owe coverage for $3.3 million the company paid to settle claims that an employee defrauded clients, a New York federal court ruled Tuesday, finding that the settlements are not a direct loss covered under the company's policy. 
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									September 23, 2025
									FTX Trust Seeks $1B From Crypto Miner Genesis DigitalThe recovery trust created under FTX's Chapter 11 plan has filed a lawsuit in Delaware bankruptcy court that aims to claw back more than $1 billion that FTX's founder invested in Genesis Digital Assets Ltd., accusing the bitcoin mining firm of overinflating its value and projections to secure the funds. 
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									September 23, 2025
									DOL Greenlights Guaranteed Income Investments In 401(k)sThe U.S. Department of Labor's employee benefits arm issued guidance Tuesday making clear that employers can offer lifetime income insurance products as a default investment in 401(k) plans, responding to an executive order by President Donald Trump calling for expanded access to nontraditional retirement plan assets. 
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									September 23, 2025
									Privy Council Backs Undoing Fund's $230M Madoff Claim SaleThe top appeals court for U.K. overseas territories has endorsed a successful U.S. appeal brought by the liquidator of an overseas Bernard L. Madoff feeder fund to undo its allegedly imprudent sale of its $230 million claim against the Ponzi schemer's defunct firm to a hedge fund. 
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									September 22, 2025
									Ex-Joseph Gunnar Broker Cops To $1M Insider Trading SchemeA former Joseph Gunnar & Co. broker Monday admitted to his role in what prosecutors say was a scheme to use confidential information about upcoming secondary stock offerings to make over $1 million in illicit profits. 
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									September 22, 2025
									SEC Sues NC Man For 'Free-Riding' Securities SchemeA North Carolina man faces U.S. Securities and Exchange Commission allegations that he systematically gamed certain broker-dealers to engage in a so-called free-riding scheme that enabled him to trade nearly $900,000 worth of securities despite not actually possessing the funds to do so. 
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									September 22, 2025
									Judge Blocks New Claims In BNY Mellon Self-Dealing SuitA pair of investors with the Bank of New York Mellon can't use an amended complaint to raise a relatively new theory of liability against the bank nearly five years after filing their original suit, a Pennsylvania federal judge ruled Monday. 
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									September 22, 2025
									UK, US To Collaborate On Capital Markets, Crypto PolicyThe U.S. Department of the Treasury and the United Kingdom's financial ministry on Monday announced the formation of a joint taskforce to explore ways to collaborate on digital asset policy and "improve links" between the two countries' capital markets. 
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									September 22, 2025
									Robbins Geller To Steer Ford Investors' Warranty Costs SuitRobbins Geller Rudman & Dowd LLP was selected on Monday to lead a consolidated putative class action accusing Ford Motor Co. and its executives of concealing rising warranty costs that later caused an 18% stock price decline. 
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									September 22, 2025
									Adult Club Owner, Charged With Fraud, Facing Securities SuitAn RCI Hospitality Holdings investor hit the adult entertainment club operator and two executives with a proposed securities class action in Texas federal court on Sunday, alleging that they hid a multiyear tax fraud and bribery scheme that was recently unveiled in sprawling New York indictments and purportedly caused RCI's stock to plummet. 
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									September 22, 2025
									Fifth Third Can Keep $30M In Escrow Fight, Judge RulesA New York federal judge has sided with Fifth Third Bank in a $30 million escrow fight, finding its claim notice over alleged "platform fee" violations was timely and valid, in a ruling that will require the suing private equity seller to return $10 million that was already released. 
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									September 22, 2025
									National Instruments Investors Granted Class Cert.A New York federal judge has certified a class of investors who sold National Instruments Corp. stock during two windows in 2022 while the company was repurchasing shares and considering an acquisition offer, finding that reliance can be presumed and damages can be measured on a class-wide basis, among other things. 
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									September 22, 2025
									Chancery Orders New Doc Handover In Crypto Co. Merger SuitA busted crypto-venture merger battle resurrected by Delaware's Supreme Court last year took another turn Monday with a ruling by Delaware's chancellor compelling Galaxy Digital Holdings LLC's handover of records that crypto-wallet business Bitgo Holdings Inc. said ties Galaxy to an alleged crypto pump-and-dump scheme. 
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									September 22, 2025
									J&J Ruling Misapplied Goldman Precedent, 3rd Circ. ToldThe U.S. Chamber of Commerce and other business organizations are supporting Johnson & Johnson's call for the full Third Circuit to reconsider a ruling that the groups argue could "saddle" companies with investor class-action suits through the misapplication of a recent U.S. Supreme Court ruling. 
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									September 22, 2025
									NJ Judge Nixes Investment Fund's Bid For Emails In Bias SuitA Black-owned investment fund accusing New Jersey officials of bias cannot access emails from Gov. Phil Murphy and two of his Cabinet members because the information falls "squarely" within executive privilege, a magistrate judge said Monday, overruling the firm's objections to a special discovery master's report. 
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									September 22, 2025
									Catching Up With Delaware's Chancery CourtLast week, Match.com secured approval for a $30M settlement over its 2019 reverse spinoff from IAC, and Vice Chancellor Morgan T. Zurn urged decorum among Delaware lawyers, comparing recent legal turmoil to dark times in British monarchy history. Here's the latest from the Chancery Court. 
Expert Analysis
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								In 2nd Place, Va. 'Rocket Docket' Remains Old Reliable  The U.S. District Court for the Eastern District of Virginia was again one of the fastest civil trial courts in the nation last year, and an interview with the court’s newest judge provides insights into why it continues to soar, says Robert Tata at Hunton. 
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								SEC Signals Opening For Private Fund Investment Reform  At SEC Speaks in late May, the U.S. Securities and Exchange Commission made clear that it's considering allowing registered funds of private funds to be offered broadly to true retail investors, meaning existing funds should review their disclosures focusing on conflicts of interest, liquidity and fees, say attorneys at Stradley Ronon. 
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								What FCA Liability Looks Like In The Cybersecurity Realm  ​Two recent settlements highlight how whistleblowers and the U.S. Department of Justice have been utilizing the False Claims Act to allege fraud predicated on violations of cybersecurity standards — timely lessons given new bipartisan legislation introducing potential FCA liability for artificial intelligence use, say​ attorneys Rachel Rose and Julie Bracker. 
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								Operating Via Bank Charter Offers Perks Amid Industry Shift  As bank regulators become more receptive to streamlining barriers that have historically stood in the way of de novo bank formation, and as fintechs show more interest in chartering, attorneys at Goodwin outline the types of charters available and their benefits. 
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								How Attorneys Can Become Change Agents For Racial Equity  As the administration targets diversity, equity and inclusion efforts and law firms consider pulling back from their programs, lawyers who care about racial equity and justice can employ four strategies to create microspaces of justice, which can then be parlayed into drivers of transformational change, says Susan Sturm at Columbia Law School. 
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								Unicoin Case Reveals SEC's Evolving Enforcement Posture  The U.S. Securities and Exchange Commission's recent fraud allegations against cryptocurrency company Unicoin send a clear message that while the Trump administration supports digital asset development, it will act decisively against deception, inflated valuations and false assurances, says David Zaslowsky at Baker McKenzie. 
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								Public Cos. Must Heed Disclosure Risks Amid Trade Chaos  Ongoing uncertainties caused by President Donald Trump's shifting stances on tariffs and trade restrictions have exponentially escalated financial reporting pressures on public companies, so businesses must ensure that their operations and accounting practices align with the U.S. Securities and Exchange Commission's standards, say Jennifer Lee at Jenner & Block and Edward Westerman at Secretariat Advisors. 
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								GAO Report Reveals How Banks And Regulators Are Using AI  A U.S. Government Accountability Office report published last month makes clear that while both federal regulators and regulated entities like banks and credit unions are employing artificial intelligence to improve efficiency, they're maintaining some skepticism, say attorneys at Orrick. 
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								Series Running Marathons Makes Me A Better Lawyer  After almost five years of running marathons, I’ve learned that both the race itself and the training process sharpen skills that directly translate to the practice of law, including discipline, dedication, endurance, problem-solving and mental toughness, says Lauren Meadows at Swift Currie. 
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								Parsing The SEC's No-Action Letter On Rule 192 Compliance  Brandon Figg at Morgan Lewis discusses the U.S. Securities and Exchange Commission's recent no-action letter, which greenlights information barriers as an alternative approach to Rule 192 compliance and includes likely relief for existing policies and procedures. 
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								High Court Order On Board Firings Is Cold Comfort For Fed  The U.S. Supreme Court’s recent Trump v. Wilcox order, upholding the firings of two independent agency board members during appeal, raises concerns about the future of removal protections for Federal Reserve System members, and thus the broader politicization of U.S. monetary policy, say attorneys at Squire Patton. 
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								Series Law School's Missed Lessons: Supporting A Trial Team  While students often practice as lead trial attorneys in law school, such an opportunity likely won’t arise until a few years into practice, so junior associates should focus on honing skills that are essential to supporting a trial team, including organization, adaptability and humility, says Lucy Zelina at Tucker Ellis. 
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								SEC Staff Input Eases Path For Broker-Dealer Crypto Activities  Recent guidance from U.S. Securities and Exchange Commission staff on broker-dealer and transfer agent crypto-asset activities suggests a more constructive regulatory posture on permissibility and application of financial responsibility rules, bringing welcome clarity for blockchain market participants and traditional financial institutions alike, say attorneys at Sidley. 
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								Compliance Essentials To Mitigate AI Crime Enforcement Risk  As artificial intelligence systems move closer to accurately mimicking human decision-making, companies must understand how the U.S. Department of Justice might prosecute them for crimes committed by AI tools — and how to mitigate enforcement risks, say attorneys at Paul Hastings. 
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								Series Adapting To Private Practice: From US Attorney To BigLaw  When I transitioned to private practice after government service — most recently as the U.S. attorney for the Eastern District of Virginia — I learned there are more similarities between the two jobs than many realize, with both disciplines requiring resourcefulness, zealous advocacy and foresight, says Zach Terwilliger at V&E. 
