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Securities

  • July 18, 2025

    Crypto Firms' OCC Charter Bids Draw Bank Industry Scrutiny

    Major banking industry groups are warning the Office of the Comptroller of the Currency that approving pending bank charter bids from crypto-linked firms like Ripple could "represent a fundamental departure" from long-standing policy, urging the agency to delay action until more information about their plans is made public.

  • July 18, 2025

    2 Firms Score $35.5M Atty Fees In $71M Rate-Swaps Deal

    Cohen Milstein Sellers & Toll PLLC and Quinn Emanuel Urquhart & Sullivan LLP have been awarded $35.5 million for their work on scoring $71 million in settlements of multidistrict litigation with top international investment banks, ending claims they allegedly schemed to limit market competition over interest rate swaps.

  • July 18, 2025

    9th Circ. Turns Away Wells Fargo's 'Sham' Hiring Appeal

    The Ninth Circuit has said it will not hear Wells Fargo's appeal of an investor lawsuit accusing the company of conducting "sham" job interviews to meet a diversity quota, allowing thousands of shareholders to move forward with their claims as a class.

  • July 18, 2025

    Gibson Dunn Ends SEC Suit Over 'Dealer' Theory

    Gibson Dunn & Crutcher LLP has dropped a suit accusing the U.S. Securities and Exchange Commission of violating the Freedom of Information Act by not producing requested records regarding enforcement actions against investors who provided convertible loans to public companies but were not registered as dealers.

  • July 18, 2025

    Retailer At Home Gets Final OK On $600M Bankruptcy Loan

    A Delaware bankruptcy judge signed off Friday on furniture retailer At Home's request to borrow up to $600 million in Chapter 11 financing, approving the loan after the debtor resolved an objection from unsecured creditors.

  • July 18, 2025

    Fashion-Tech Biz Founder Charged With $300M Investor Fraud

    The founder of bankrupt apparel technology company CaaStle Inc. defrauded investors out of $300 million, federal prosecutors in Manhattan said Friday, unsealing an indictment charging her with using sham documents to falsely promote a "rapidly growing business" supposedly worth $1.4 billion.

  • July 17, 2025

    Bitcoin Treasury Firm To Go Public Via $1.5B SPAC Deal

    Bitcoin investment company BSTR Holdings Inc. announced on Thursday that special purpose acquisition company Cantor Equity Partners I Inc. will provide it with up to $1.5 billion in financing in a go-public deal, guided by Ellenoff Grossman & Schole LLP and Skadden Arps Slate Meagher & Flom LLP.

  • July 17, 2025

    Thrivent Challenges SEC Over FINRA Arbitration Rules

    Financial services giant Thrivent has filed a petition in the D.C. Circuit Court of Appeals seeking to force the U.S. Securities and Exchange Commission to review three rules adopted by the Financial Industry Regulatory Authority that give the agency exclusive jurisdiction over arbitration disputes between brokers and their customers.

  • July 17, 2025

    Circle's Bank Plans Include Regulatory Vets At Helm

    Stablecoin giant Circle has tapped Heath Tarbert, its president and former top derivatives regulator, as well as a former Office of the Comptroller of the Currency chief counsel to help oversee its proposed national trust bank, according to application materials made public Thursday.

  • July 17, 2025

    SEC Fraud Suit Against Ex-Online Pharmacy Execs Advances

    A New York federal judge has declined to dismiss a majority of the U.S. Securities and Exchange Commission's claims against former executives of a now-defunct online pharmacy called Medly, finding the agency adequately pleaded that the executives made false statements or acted recklessly, among other misconduct.

  • July 17, 2025

    Accolade Faces $4.8M Suit Over Pre-Merger Profit Claims

    Personalized healthcare solutions company Accolade Inc. was hit with an investor suit Thursday accusing it and its CEO of making false statements about its profitability to prop up share prices before announcing its plan to go private via a merger with healthcare company Transcarent Inc.

  • July 17, 2025

    3 Crypto Bills Pass House, With Stablecoins Headed To Trump

    The House of Representatives on Thursday agreed to send a bill to regulate stable-value tokens to the president's desk, in addition to advancing proposals to regulate crypto markets and ban the government from exploring the issuance of a digital dollar onto the Senate.

  • July 17, 2025

    2 Firms To Lead Target Shareholder Suit Over DEI Initiatives

    Rigrodsky Law PA and Levi & Korsinsky LLP will lead a now-consolidated shareholder derivative action accusing Target Corp.'s executives and directors of harming investors by greenlighting the company's diversity, equity and inclusion initiatives and its offerings of LGBTQ-related merchandise.

  • July 17, 2025

    SEC Atty Exits After Hiding Revoked License, OIG Says

    A longstanding employee of the U.S. Securities and Exchange Commission resigned after it was discovered that they had falsely reported being in good standing with a state bar association, according to the regulator's inspector general.

  • July 17, 2025

    Musk, SEC Seek More Time For Response In Twitter Case

    Elon Musk and the U.S. Securities and Exchange Commission on Thursday jointly asked a D.C. federal court to allow the billionaire more time to respond to the agency's complaint that he failed to timely report his Twitter purchases before buying the platform and renaming it X.

  • July 17, 2025

    Former Club Rugby Champ Jailed For Crypto Ponzi Scheme

    A Seattle federal judge on Wednesday sentenced a former national champion club rugby player to 30 months in prison for wire fraud after he defrauded investors with promises of building a new cryptocurrency mining operation.

  • July 17, 2025

    Robotics Co. Investors Settle De-SPAC Suit For $7.5M In Del.

    Investors in a special purpose acquisition company that took artificial intelligence company Berkshire Grey Inc. public for $2.25 billion in mid-2021 have reported a $7.5 million proposed settlement intended to end a breach of fiduciary duty suit in Delaware's Court of Chancery.

  • July 17, 2025

    DMC Global Brass Sued Over Arcadia Acquisition

    Executives and directors of industrial company DMC Global Inc. have been hit with a shareholder derivative suit in Colorado federal court accusing them of allowing the company to exaggerate the prospects and financial health of a manufacturing segment it acquired in 2021.

  • July 17, 2025

    CFTC Restructures Enforcement Division Amid Layoffs

    The Commodity Futures Trading Commission plans to lay off around two dozen staff members and has restructured its enforcement division by eliminating some management positions, a person familiar with the matter told Law360 Thursday.

  • July 17, 2025

    Firm Named Lead Counsel For REIT Securities Fraud Class

    The Rosen Law Firm PA will serve as lead counsel for a proposed class of Sun Communities investors who claim the real estate investment trust failed to disclose that its CEO received a loan from a board member's relatives.

  • July 17, 2025

    Equinix OKs $41.5M Settlement Of Capital Spending Claims

    Data center developer Equinix has agreed to pay $41.5 million to settle class claims from a pension fund saying the company mislabeled spending on maintenance expenses over a five-year period to earn executives bonuses of $150 million.

  • July 17, 2025

    Watchdog Raises Concerns On 9th Circ. Nominee's Crypto Work

    President Donald Trump's nominee for the Ninth Circuit has a long record of representing cryptocurrency companies, which a watchdog group fears could aid what it calls the president's "self-enrichment" with digital currency.

  • July 17, 2025

    Meta, Stockholders Settle $8B Privacy Breach Suit

    Attorneys for Meta stockholders reported a midtrial agreement Thursday to settle an $8 billion-plus Delaware Court of Chancery suit accusing the company's directors and officers of breaching privacy regulations and corporate fiduciary duties tied to allegations dating to the Cambridge Analytica scandal more than a decade ago.

  • July 16, 2025

    CME Trading Center Access Didn't Need Approval, Jury Hears

    A data center that CME Group Inc. built to accommodate electronic trading is not a trading floor, and the exchange didn't ask permission to let both members and nonmembers do their work there because it didn't need to, an Illinois jury heard Wednesday in the traders' class action.

  • July 16, 2025

    NFT Fraudster Says He Used Tornado To Hide $1.1M Rug Pull

    An admitted cryptocurrency fraudster who copped to a million-dollar nonfungible tokens scam Wednesday told the jury in the $1 billion money laundering and sanctions trial of Tornado Cash co-founder Roman Storm that when it came time to hide the proceeds of the NFT fraud, he turned to the crypto mixer to cover his tracks.

Expert Analysis

  • 10 Soft Skills Every GC Should Master

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    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.

  • How Proxy Advisory Firms Are Approaching AI And DEI

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    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.

  • Traversing The Shifting Sands Of ESG Reporting Compliance

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    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.

  • An Unrestrained, Bright-Eyed View Of Legal AI's Future

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    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.

  • Ban On Reputation Risk May Help Bank Enforcement Defense

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    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.

  • Tracking The Evolution In Litigation Finance

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    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.

  • Assessing Market Manipulation Claims In Energy Markets

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    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.

  • Series

    Volunteer Firefighting Makes Me A Better Lawyer

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    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.

  • Limit On SEC Enforcement Authority May Mean Fewer Actions

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    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.

  • As SEC, CFTC Retreat, Who Will Police The Crypto Markets?

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    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.

  • Calif. May Pick Up The Slack On Foreign Bribery Enforcement

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    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.

  • E-Discovery Quarterly: The Perils Of Digital Data Protocols

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    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.

  • A Look At M&A Trends In An Uncertain Deal Environment

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    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.

  • Opinion

    Ripple Settlement Offers Hope For Better Regulatory Future

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    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.

  • Series

    Law School's Missed Lessons: Preparing For Corporate Work

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    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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