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Securities

  • August 29, 2025

    Banks Ignored Pig Butchering Scheme's Red Flags, Suit Says

    A California couple who say they lost $600,000 in a so-called pig butchering investing scam have sued several financial institutions, including three banks and two fintech payment platforms, alleging the banks chose to "bury their heads in the sand" as the purported scammers took advantage of their targets.

  • August 29, 2025

    SEC, Musk File Competing Bids To End Twitter Buy-Up Suit

    The U.S. Securities and Exchange Commission and Elon Musk have both moved for early victories in a lawsuit accusing Musk of failing to timely disclose a beneficial ownership stake in Twitter, with the billionaire owner of the social media site calling the case one of "gross governmental overreach."

  • August 29, 2025

    Concrete Co. Challenges Stockholder's Second Books Suit

    Attorneys for a concrete company taken private in an $11.5 billion merger in February have called for dismissal of a stockholder's document suit, saying he lost standing to sue for deal-related books and records when he dropped an earlier books demand and challenged the merger outright.

  • August 29, 2025

    4 Firms Advise As PepsiCo Adds $585M Celsius Stake

    PepsiCo Inc. said on Friday it has acquired $585 million of newly issued 5% convertible preferred stock in Celsius Holdings Inc., part of a broader effort to fine-tune its presence in the U.S. and Canadian energy drink markets, in a deal guided by four law firms.

  • August 29, 2025

    Strathcona Upping MEG Stake, Against $5.7B Cenovus Deal

    North American oil producer Strathcona Resources Ltd. has unveiled plans to up its stake in Canadian oil sands producer MEG Energy by 5%, a move that marks an attempt to block Cenovus Energy's planned CA$7.9 billion ($5.7 billion) takeover of MEG.

  • August 29, 2025

    SEC Says Luxury Car Export Biz Was $30M Scam

    A Turkish national and his Massachusetts-based company conned investors out of $30 million through a fake business venture that claimed to export luxury cars from the U.S., the U.S. Securities and Exchange Commission said.

  • August 28, 2025

    2nd Circ. Affirms Hedge Fund Win In $87M Short-Swing Suit

    A unanimous Second Circuit panel on Thursday upheld a summary judgment win for hedge fund Armistice Capital LLC and its managing member in a derivative suit brought by a shareholder of biotechnology company Vaxart Inc., which sought disgorgement of $87 million in short-swing profits that allegedly were wrongfully obtained by the investment adviser.

  • August 28, 2025

    Ex-Fugees Rapper Ordered To Pay $6.5M In Loan Dispute

    A Georgia federal judge has ruled that former Fugees rapper Prakazrel Samuel "Pras" Michel must repay $6.5 million to a lender that accused him of fraudulently selling his music catalog while it was being held as collateral.

  • August 28, 2025

    CFTC Clears Registration Path For Offshore Crypto Cos.

    The U.S. Commodity Futures Trading Commission on Thursday made clear that certain offshore cryptocurrency entities can use its foreign board of trade registration framework to serve U.S. customers.

  • August 28, 2025

    Unicoin Says SEC's $100M Fraud Suit 'Twists' Its Disclosures

    Crypto firm Unicoin told a New York federal judge that the U.S. Securities and Exchange Commission's claim that it ran a $100 million fraud is based on "cherry-picked" statements taken out of context and "ignores" the firm's warnings to investors within its own disclosures with the agency.

  • August 28, 2025

    Justices Asked To Limit Private Investment Fund Suits

    A group of investment funds seeking to fend off a challenge from an activist investor are urging the U.S. Supreme Court to issue a ruling in the case that would end the ability of private parties to file contractual disputes under the Investment Company Act.

  • August 28, 2025

    ATM Network Investment Was $700M Ponzi Scheme, Suit Says

    Four individuals have been hit with a proposed class action from an investment advisory firm, accusing them of using purported investments in ATM networks to run a $700 million Ponzi scheme.

  • August 28, 2025

    Real Estate Mogul Wants $51.2M Conn. Asset Freeze Reduced

    The chairman, secretary and chief financial officer of bankrupt construction management firm Gateway Development Group Inc. on Thursday asked a Connecticut judge to reconsider a $51.2 million asset freeze demanded by a Chapter 7 trustee and a minority shareholder, claiming "mathematical errors" warrant a $17 million reduction.

  • August 28, 2025

    FedArb Hires Ex-RTX Legal Chief As Commercial Mediator

    California-based alternative dispute resolution service Federal Arbitration Inc., or FedArb, announced Wednesday the hiring of a former corporate vice president and chief litigation counsel at aerospace and defense conglomerate RTX Corp. as a Connecticut-based mediator and arbitrator focused on commercial matters.

  • August 28, 2025

    Barnes & Thornburg Adds Corporate Attys In Dallas, Nashville

    Barnes & Thornburg LLP has deepened its corporate bench with a partner in Nashville who joined from Polsinelli PC and a counsel in Dallas who came aboard from Morgan Lewis & Bockius LLP.

  • August 28, 2025

    Judge Asks If Pension Swap Without Pay Loss Triggers ERISA

    A Pennsylvania federal magistrate judge questioned Thursday whether retirees from ATI Inc. had standing to sue over an allegedly risky switch from a defined-benefit pension plan to an insurance-backed annuity, when all of their monthly payments remained the same.

  • August 28, 2025

    Telehealth Co. Faces Investor Suit Over Revenue Reversal

    Telemedicine company LifeMD Inc. and two of its executives face a proposed investor class action alleging they "recklessly" raised revenue expectations for the 2025 fiscal year in May, only to lower their forecast three months later after seeing increased costs affecting the company's men's health and weight management offerings.

  • August 28, 2025

    Compliance Atty Who Duped Lender Wants New Trial

    A compliance lawyer convicted of pilfering from a $20 million line of credit that a subsidiary of Emigrant Bank extended to his tax-lien business has asked a Manhattan federal judge to order a new trial, arguing that prosecutors' evidence is insufficient and that the charges were "multiplicitous," in violation of the Fifth Amendment.

  • August 28, 2025

    Federal Reserve Gov. Lisa Cook Sues Trump To Block Firing

    Federal Reserve Gov. Lisa Cook filed suit in federal court in Washington, D.C., on Thursday challenging President Donald Trump's "unprecedented and illegal attempt" to remove her from her position.

  • August 28, 2025

    Arnold & Porter Adds Fund Formation Expert In New York

    A Lowenstein Sandler LLP fund formation and structuring co-chair has moved to Arnold & Porter Kaye Scholer LLP to co-lead its investment management practice group in New York, the firm said Thursday.

  • August 27, 2025

    Crypto Firm Can't Block Gov't Contract For Seized Assets

    A U.S. Court of Federal Claims judge won't halt a government contract for the management of seized crypto after finding Wave Digital Assets isn't likely to succeed in pressing its claims that the U.S. Marshals Service acted unfairly when it awarded the job to another provider.

  • August 27, 2025

    Judge Unsure AI Drugmaker Investors Backed Retooled Suit

    A Connecticut federal judge seemed open to dismissing a securities suit alleging an artificial intelligence-driven drugmaker's executives misled investors about compliance issues plaguing a dementia drug, suggesting during a hearing Wednesday that the amended complaint may not have enough factual support.

  • August 27, 2025

    Citizens Say FinCEN's Real Estate Transfer Rule Unlawful

    Two citizens asked a Texas federal judge to throw out FinCEN's rule requiring disclosure of residential real estate transfers to corporate entities and trusts even when no money changes hands, saying the rule runs afoul of the Constitution.

  • August 27, 2025

    $75K In Atty Fees Awarded After $1M Ask In Trump Media Case

    After much wrangling, a Delaware vice chancellor has granted a $75,000 attorney fee for ARC Global Investments II LLC, the investment sponsor behind the deal that took Trump Media & Technology Group public in 2024 — far from ARC's most recent ask of $1 million.

  • August 27, 2025

    Ameritas Urges Ga. Justices To Void 'Life Wager' Policy

    Ameritas Life Insurance Corp. urged the Supreme Court of Georgia Wednesday to hold that a trust that purchased a woman's investor-backed life insurance policy years after it was written can't collect after her death, warning the court that allowing the trust to do so would provoke "a run" of third-party policies in the state.

Expert Analysis

  • GAO Report Reveals How Banks And Regulators Are Using AI

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    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.

  • Series

    Running Marathons Makes Me A Better Lawyer

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    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.

  • Parsing The SEC's No-Action Letter On Rule 192 Compliance

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    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.

  • High Court Order On Board Firings Is Cold Comfort For Fed

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    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.

  • Series

    Law School's Missed Lessons: Supporting A Trial Team

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    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.

  • SEC Staff Input Eases Path For Broker-Dealer Crypto Activities

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    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.

  • Compliance Essentials To Mitigate AI Crime Enforcement Risk

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    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.

  • Series

    Adapting To Private Practice: From US Attorney To BigLaw

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    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.

  • How The DOJ Is Redesigning Its Approach To Digital Assets

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    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.

  • At 'SEC Speaks,' Leaders Frame New Views

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    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.

  • The Ins And Outs Of Consensual Judicial References

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    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.

  • Calif. Digital Assets Proposal Provides Only Partial Clarity

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    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.

  • Staying The Course Amid Seismic DOJ White Collar Changes

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    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.

  • Opinion

    The BigLaw Settlements Are About Risk, Not Profit

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    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.

  • Del. Dispatch: A Look At Indemnification Notice Provisions

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    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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