Fintech

WEDNESDAY, MAY 22, 2024

LAW360 400

The Law360 400: Tracking The Largest US Law Firms

By Sam Bell and Pamela Wilkinson

The legal market expanded more tentatively in 2023 than in previous years amid a slowdown in demand for legal services, especially in transactions, an area that has been sluggish but is expected to quicken in the near future.

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Strategic Hiring Was The New Normal For BigLaw In 2023

By Emma Cueto

The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

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TOP NEWS

Uniswap Warns SEC There's 'More To Lose' In Potential Suit

By Aislinn Keely

The company behind decentralized finance platform Uniswap on Tuesday warned the U.S. Securities and Exchange Commission that the regulator "has more to lose than gain" from bringing an enforcement action against it since its proposed case implicates pending rulemaking and its authority to regulate transactions on crypto platforms.

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SEC Slams Ripple's Bid To 'Hide' Financial Info From Public

By Jessica Corso

The U.S. Securities and Exchange Commission is protesting Ripple Labs' bid to conceal certain financial information from the public as it fights the agency's attempt to impose a $2 billion penalty for unregistered cryptocurrency sales, arguing that the company's call for transparency in the case should extend to itself.

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Apple Tees Up Bid To Toss DOJ IPhone Monopoly Suit

By Bryan Koenig

Apple argued that it has the right to choose how it does business in a preview Tuesday of its upcoming explanations for why a New Jersey federal judge should dismiss the Justice Department lawsuit accusing the iPhone maker of restricting third-party app access to monopolize the smartphone market.

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LITIGATION

Ex-Crypto Co. President Was Deceived And Ousted, Suit Says

By Sydney Price

A cryptocurrency entrepreneur has filed a suit in Delaware's Court of Chancery accusing a CEO of making fraudulent misrepresentations to recruit him to serve as president of his blockchain company, then unjustifiably firing him.

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Binance User Must Arbitrate Facial Scan BIPA Fight

By Dorothy Atkins

An Illinois federal judge has sent to arbitration a proposed class action alleging Binance.US' trading platform violated Illinois' Biometric Information Privacy Act by scanning and storing users' unique facial geometry as part of its identity-verification process, finding the lead plaintiff hasn't shown she never agreed to arbitration.

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EXPERT ANALYSIS

Colo. Lending Law Could Empower State-Chartered Banks

Lending programs that rely on rate exportation by state banks should pay close attention to legislative activity and ongoing litigation surrounding Colorado's decision to opt out of rate exportation, which could set a precedent that state-chartered banks have power on par with national banks, says Tom Witherspoon at Stinson.

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LEGAL INDUSTRY

Attys With AI Skills Command Pay Bumps In The US, UK

By Steven Lerner

Lawyer job listings that require artificial intelligence skills carry a wage premium of up to 49% higher in some markets, according to a report released Tuesday.

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ABA Faces Racial Bias Complaint Over Diversity Programs

By Ryan Boysen

A conservative nonprofit on Tuesday hit the American Bar Association with a Title VI complaint, claiming a handful of "nefarious" ABA-led programs meant to connect minority law school students with judges are "racially discriminatory."

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Trump Rests In NY Hush Money Trial, Declining To Testify

By Frank Runyeon and Stewart Bishop

Donald Trump rested his defense Tuesday in the Manhattan district attorney's criminal hush money case, closing out the testimony and setting the stage for deliberations next week after the former president opted not to take the witness stand.

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Coverage Recap: Day 16 Of Trump's NY Hush Money Trial

By Stewart Bishop

Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from Tuesday, day 16 of the trial.

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More Classified Docs Were Found After Mar-A-Lago Raid

By Carolina Bolado

Additional classified documents were found at former President Donald Trump's Mar-a-Lago estate, including in Trump's bedroom, after the FBI's August 2022 search of the Florida property, according to a filing unsealed Tuesday in the criminal case accusing him of mishandling classified documents.

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Willis And Judge In Ga. Election Case Win Their Elections

By Kelcey Caulder

Fulton County District Attorney Fani T. Willis and Fulton County Superior Court Judge Scott McAfee, two key figures in the Georgia election interference case against former President Donald Trump, won their elections Tuesday night.

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Senate Backs Federal Prosecutor For Ariz. District Judgeship

By Courtney Bublé

The Senate voted 66-26 on Tuesday to confirm Assistant U.S. Attorney Krissa M. Lanham to the District of Arizona.

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High Court Ethics Bill In 'High Consideration,' Schumer Says

By Courtney Bublé

Senate Majority Leader Chuck Schumer, D-N.Y., said on Tuesday that a bill to institute an ethics code for the U.S. Supreme Court was in "high consideration" to come before the full Senate for a vote, following the report last week that an upside-down flag, which has become a symbol for former President Donald Trump's claims that the 2020 election was stolen, was flown outside Justice Samuel Alito's house after the attack on the U.S. Capitol a month later.

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$93M Lipitor Antitrust Deal Sparks Dispute Over Fee Division

By Carla Baranauckas

Attorneys representing a class of buyers in antitrust litigation against Pfizer over the cholesterol medication Lipitor are squabbling over how to divide up to $31 million in attorney fees before a New Jersey federal judge even approves the total, according to court documents.

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Ex-LA DA Sues State Farm Over Gun Incident Legal Fees

By Elizabeth Daley

Former Los Angeles County District Attorney Jackie Lacey sued her insurer in California state court Tuesday, alleging State Farm cost her more than $2.1 million by failing to cover legal fees when she and her late husband were sued because he brandished a gun against protesters at their home.

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Barrier-Breaking Conn. Chief Justice To Retire In September

By Aaron Keller

Saying it's "time for a change" after a career in government service, Connecticut Supreme Court Chief Justice Richard A. Robinson, the first Black chief justice in state history, announced he will retire from the bench effective Sept. 6, according to statements from the Connecticut Judicial Branch and Gov. Ned Lamont.