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Securities
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August 15, 2025
LA Judge Upholds $2M Award In Cannabis Investment Battle
A Los Angeles state court judge upheld a $2.25 million judgment against the manager of a medical marijuana collective accused of defrauding an investor, chastising him for "never even" attempting to bring in key evidence that would allegedly help his case.
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August 14, 2025
Cadwalader Corporate Head Exits To McDermott After 40 Years
Ira Schacter, a senior partner at Cadwalader Wickersham & Taft LLP, is leaving the firm after 40 years to lead a new section of newly merged McDermott Will & Schulte's transactions practice that will counsel clients where private equity, insurance and financial services matters meet, McDermott confirmed Thursday.
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August 14, 2025
Genesis Parent Says It Met $1.1B Duty, Seeks 'Overpayments'
Crypto conglomerate Digital Currency Group Inc. on Thursday urged a New York bankruptcy judge to declare it has no further obligations under a $1.1 billion promissory note meant to "backstop" its bankrupt subsidiary, crypto lender Genesis, after rising crypto prices allegedly offset the loss the note intended to cover.
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August 14, 2025
Healthcare Co. Exec, GC Revealed Trade Secrets, Court Told
A preponderance of emails shows that former CEOs involved with a trio of healthcare and real estate companies shared financial documents and other intellectual property that were undoubtedly trade secrets, the companies' attorney told the North Carolina Business Court on Thursday.
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August 14, 2025
2 Face Charges Over $200M Water Vending Machine Fraud
A Washington business executive and a former investment adviser were hit with civil and criminal charges in New York federal court Thursday stemming from an alleged yearslong $200 million Ponzi scheme that hawked investments in nonexistent water vending machines.
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August 14, 2025
Zillow Brings Goldman Fight To Skeptical 9th Circ.
The Ninth Circuit on Thursday cast doubt on Zillow Group Inc.'s efforts to decertify an investor class claiming that the real estate listing site oversold a now-shuttered home-buying program, appearing skeptical of arguments that a recent U.S. Supreme Court decision worked in the company's favor.
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August 14, 2025
Energy Co. Can't Avoid 401(k) Forfeiture, Fee Fight
A Florida federal judge refused Thursday to toss a proposed class action against NextEra Energy from an employee 401(k) participant who alleged plan forfeitures were misspent and that a recordkeeper illegally profited off retirement plan earnings, opening discovery on allegations that the conduct violated federal benefits law.
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August 14, 2025
Armistice Capital Beats Derivative Suit In Chancery
An Aytu Biopharma Inc. stockholder's derivative lawsuit in Delaware against Armistice Capital LLC crumbled on Thursday after a vice chancellor rejected breach of fiduciary duty, unjust enrichment, and aiding and abetting claims against the New York hedge fund.
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August 14, 2025
Del. Challenge To Squarespace Doc Suit Toss Moves Forward
A Delaware vice chancellor on Thursday ordered an October hearing over stockholder exceptions to a posttrial dismissal of a lawsuit for records on Squarespace Inc.'s $7.2 billion take-private deal, following objections that the ruling "would require the court to possess impossible prescience."
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August 14, 2025
Ponzi Scheme Trial Not Tainted By Video Depo, 7th Circ. Says
A Seventh Circuit panel upheld the conviction and 17-year sentence of an alleged Ponzi schemer, rejecting a "host of challenges," including that he was denied his Sixth Amendment confrontation rights when the government presented a key witness's testimony through a videotaped foreign deposition neither he nor his counsel attended.
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August 14, 2025
Ex-Payday Lender CEO Gets 7 Years For $66M Ponzi Scheme
The former CEO of a Miami payday loan company was sentenced Thursday to more than seven years in prison for operating a Ponzi scheme that prosecutors say fraudulently raised $66 million from more than 600 investors.
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August 14, 2025
Crypto Co. Slams Canadian Consultant's Unpaid Wages Claims
Cryptocurrency startup Unicoin Inc. and its CEO have asked a New York federal judge to dismiss a former consultant's lawsuit alleging he's owed wages and coin commissions for his work facilitating the firm's Canadian presence, arguing the consultant quit last summer and has no enforceable contract.
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August 14, 2025
US Targets Russia-Linked Crypto Exchanges Over Illicit Flows
The Trump administration on Thursday renewed sanctions on Russian cryptocurrency exchange Garantex and moved against its successor, Grinex, accusing the platforms of helping launder illicit transactions and shifting business to dodge earlier penalties.
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August 14, 2025
Purported Cartier Family Scion Denies Laundering Charges
An Argentinian entrepreneur and professional singer with ties to the family that created jewelry giant Cartier on Thursday denied charges that he helped operate a Colombia cryptocurrency money-laundering network that assisted traffickers in their effort to repatriate $14 million of narcotics proceeds.
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August 14, 2025
Troutman Adds 3 More CMBS Attys From K&L Gates
Troutman Pepper Locke LLP has announced three more additions to its commercial mortgage-backed securities team from K&L Gates LLP, saying their hires will "further fortify the firm's competitive edge in the special servicing and litigation sectors."
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August 14, 2025
DiDi Investors Get Partial Cert. In Ride-Hailing App IPO Suit
A New York federal judge adopted a magistrate judge's recommendation to partially grant class certification in an investor suit alleging DiDi Global Inc., a ride-hailing business based in China, hid enterprise-threatening regulatory risks during its initial public offering in 2021.
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August 13, 2025
6th Circ. Clarifies Class Cert. Standard In FirstEnergy Suit
A class of FirstEnergy investors suing in the wake of a $1 billion bribery scandal should not have been certified, the Sixth Circuit ruled Wednesday, saying the district court applied the wrong standard, but indicated the class could be recertified on remand.
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August 13, 2025
Dick's Sporting Goods Suit Should Be Trimmed, Judge Says
A Pennsylvania federal judge has recommended trimming a shareholder class action that claims Dick's Sporting Goods misled investors about inventory levels and losses because of theft after the COVID-19 pandemic, finding that some of the suit's challenged statements are forward-looking and inactionable, among other things.
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August 13, 2025
Andreessen Horowitz Urges SEC To Craft DeFi Safe Harbor
Venture capital firm Andreessen Horowitz and crypto lobby the DeFi Education Fund penned a joint letter Wednesday, urging the U.S. Securities and Exchange Commission to shield certain decentralized crypto projects from broker-dealer requirements.
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August 13, 2025
FINRA Fines Wells Fargo Over Muni Securities Biz Compliance
Wells Fargo will pay $275,000 to end Financial Industry Regulatory Authority claims that the bank for years lacked a supervisory system designed to ensure that its investment services for municipal entity customers did not require it to register as a municipal adviser.Â
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August 13, 2025
Semtech Investor Sues Brass Over Copper Goods Sales Drop
The top brass of high-performance semiconductor company Semtech Corp. has been hit with a shareholder derivative suit in California federal court claiming that they misled investors about the performance and sales of the company's products and failed to disclose certain issues that led to the end of the company's partnership with Nvidia.
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August 13, 2025
Paramount Investor Gabelli Sues Redstone, Skydance In Del.
A fund of Paramount Global investor Mario Gabelli sued National Amusements Inc. successor Harbor Lights Entertainment, Shari Redstone and others in Delaware's Court of Chancery on Wednesday, seeking damages tied to the recently closed $8.4 billion Paramount-Skydance Media merger.
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August 13, 2025
Business Groups Fail To Halt Calif. Climate Reporting Rules
The U.S. Chamber of Commerce and other business groups lost a bid to block new California state regulation requiring large companies to publicly disclose their greenhouse gas emissions and climate-related financial risks that they said violated their First Amendment rights, when a federal judge Wednesday denied them preliminary injunction.
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August 13, 2025
Chancery OKs $7.5M Atty Fee In $50M Lutnick Bonus Battle
Class attorneys who secured a $50 million derivative suit settlement fully offsetting a disputed bonus paid in 2021 to former Newmark Group Inc. controller and current Commerce Secretary Howard Lutnick saw their proposed 25% attorney fee cut to 15% by a Delaware vice chancellor on Wednesday.
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August 13, 2025
Cassava Investors Get Class Certified In Alzheimer's Drug Suit
Investors accusing Cassava Sciences Inc. of inflating its stock price with manipulated research data of its Alzheimer's drug can proceed with their claims as a class, with the court finding the suit's named plaintiffs are adequate representatives despite Cassava's claims they were only "out to make a quick buck."
Expert Analysis
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How The DOJ Is Redesigning Its Approach To Digital Assets
Two key digital asset enforcement policy pronouncements narrow the Justice Department's focus on threats like fraud, terrorism, trafficking and sanctions evasion and dial back so-called regulation by prosecution, but institutions prioritizing compliance must remember that the underlying statutory framework hasn't changed, say attorneys at Blank Rome.
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At 'SEC Speaks,' Leaders Frame New Views
At the Practising Law Institute's recent SEC Speaks conference, U.S. Securities and Exchange Commission leadership highlighted the agency's significant priority changes, including in enforcement, crypto and artificial intelligence, say attorneys at Perkins Coie.
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The Ins And Outs Of Consensual Judicial References
As parties consider the possibility of judicial reference to resolve complex disputes, it is critical to understand how the process works, why it's gaining traction, and why carefully crafted agreements make all the difference, say attorneys at Pillsbury.
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Calif. Digital Assets Proposal Provides Only Partial Clarity
Recently proposed regulations under California's Digital Financial Assets Law answer some important questions about the new regime, particularly regarding its interaction with the state's money transmission law, but many key compliance questions remain, say attorneys at Stinson.
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Staying The Course Amid Seismic DOJ White Collar Changes
While some of the big changes at the U.S. Department of Justice during the second Trump administration — like an embrace of cryptocurrency and more politicized prosecutions — were expected, there have also been surprises, so practitioners should advise clients to stay focused on white collar compliance in this unpredictable environment, say attorneys at Keker.
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Opinion
The BigLaw Settlements Are About Risk, Not Profit
The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.
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Del. Dispatch: A Look At Indemnification Notice Provisions
The Delaware Supreme Court's recent decision in Thompson Street Capital Partners v. Sonova U.S. Hearing Instruments serves as a reminder that noncompliance with contractual requirements for an indemnification claim notice may result in forfeiture of the indemnification right, depending on both the agreement language and the circumstances, say attorneys at Fried Frank.
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Buyer Beware Of Restrictive Covenants In Delaware
Based on recent Delaware Chancery Court opinions rejecting restricted covenants contained in agreements in the sale-of-business context, businesses need to craft narrowly tailored restrictions that have legitimate interests, say attorneys at Saul Ewing.
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Series
Brazilian Jiujitsu Makes Me A Better Lawyer
Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.
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Challenges For Fiduciaries Adding Crypto To 401(k) Plans
As cryptocurrencies gain popularity and their restrictions loosen, investors may become interested in adding crypto options to their retirement plans, but fiduciaries should consider how to balance the increased demand and their obligations under the Employee Retirement Income Security Act, say attorneys at Jenner & Block.
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Opportunities And Challenges For The Texas Stock Exchange
While the new Texas Stock Exchange could be an interesting alternative to the NYSE and the Nasdaq due to the state’s robust economy and the TXSE’s high-profile leadership and publicity opportunities for listings, its success as a national securities exchange may hinge on resolving questions about its regulatory and cost advantages, say attorneys at Norton Rose.
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Energy Order Brings Risks For Lenders And Borrowers Alike
A recent executive order directing the attorney general to submit a report next month with recommendations for halting enforcement of state laws the administration says are hampering energy resources presents risks for lenders and borrowers using state-generated carbon credits, but proactive steps now can help insulate against adverse consequences, say attorneys at Faegre Drinker.
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What's At Stake As Trump Admin Targets Carbon Markets
Trading in greenhouse gas emissions and reductions has long been touted as a way to leverage market forces to tackle climate change cost-effectively, and that theory may be put to the test amid momentous progress and fresh challenges, particularly as the Trump administration takes aim at climate initiatives, say attorneys at DLA Piper.
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Series
Power To The Paralegals: An Untapped Source For Biz Roles
Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.
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The Legal Risks Of US Restrictions On Investments In China
The second Trump administration has continued to embrace a more restrictive economic policy toward China, including an ongoing review of further restrictions on the flow of U.S. capital to China, so early planning and enhanced diligence can reduce exposure to the challenges resulting from further restrictions, say attorneys at Cleary.