Capital Markets

  • June 08, 2026

    PNC Beats Suit Over Bank Customer's Investor Fraud

    The Sixth Circuit ruled Monday that investors who gave millions of dollars to a man who lost their money before taking his own life cannot sue PNC or a bank employee, and the court held the plaintiffs improperly added the employee to their case to have it heard in state court.

  • June 08, 2026

    StubHub Wants IPO Disclosures Suit Tossed

    StubHub and several of its initial public offering underwriters urged a New York federal court to dismiss a shareholder suit accusing them of securities fraud, saying StubHub made all necessary disclosures and acted transparently before the IPO despite investors' claims that it hid information about cash flow and its transition into direct ticket sales.

  • June 08, 2026

    Catching Up With Delaware's Chancery Court

    At the Delaware Chancery Court, a trial over World Wrestling Entertainment Inc.'s $21.4 billion merger with Ultimate Fighting Championship's parent company has been canceled, and a Reddit investor has filed a suit claiming the company used artificial intelligence to challenge his grievance about a charter provision.

  • June 08, 2026

    Clearing House To Pay $40.7M Over 'Slush Fund' Claims

    Axos Clearing LLC owes more than $40.7 million to more than 100 claimants for allegedly turning a blind eye as the brokerage firm Worden Capital Management LLC used the claimants' accounts as personal slush funds, following Worden Capital's expulsion by the Financial Industry Regulatory Authority.

  • June 08, 2026

    Over 200 Crypto Orgs Urge Senate To Act On Clarity Bill

    More than 200 crypto firms and industry groups are urging Senate leaders to set a full vote for the crypto market structure bill the Clarity Act.

  • June 08, 2026

    White & Case, Reed Smith Lead $1.2B Space SPAC Deal

    Spacecraft developer Quantum Space LLC said Monday it plans to go public through a merger with Inflection Point Acquisition Corp. VI, a special purpose acquisition company, in a deal that values the combined company at about $1.2 billion and would give the business new funding to build out its national security-focused spacecraft platform.

  • June 08, 2026

    1st Circ. Partially Revives IRobot, Amazon Merger Suit

    The First Circuit has partially revived a shareholder proposed class action accusing iRobot Corp. of misleading investors about expected regulatory opposition that ultimately led to the abandonment of a proposed $1.7 billion merger with Amazon, finding that a modified 2023 proxy statement "omitted important contrary information about European approval."

  • June 08, 2026

    Skadden-Led First Carolina Bank Unveils Plan For $82.5M IPO

    First Carolina Financial Services Inc., a community bank with branches in four southeastern states, said Monday that it plans to offer 5.5 million shares at a price range of $14 to $16 in an initial public offering steered by Skadden Arps Slate Meagher & Flom LLP and Troutman Pepper Locke LLP.

  • June 08, 2026

    CEO Was 'Central' To Sham Revenue Scheme, SEC Says

    The former CEO of Lottery.com should not escape U.S. Securities and Exchange Commission claims he was a "central actor" in a scheme to cook the company's books, the regulator argued, telling a Manhattan federal judge that its enforcement action "extensively" details its fraud allegations against the executive.

  • June 08, 2026

    King & Spalding May Be Sanctioned In $300M Fraud Lawsuit

    Two King & Spalding LLP partners face a sanctions hearing in a $300 million fraud lawsuit to determine whether they violated a rule requiring candor to the tribunal by falsely claiming attorneys for other parties were copied on letters to two Connecticut jurists, according to two state court orders.

  • June 08, 2026

    Bankman-Fried Seeks Trump Pardon On FTX Fraud Conviction

    FTX founder Sam Bankman-Fried, who is currently serving a 25-year prison sentence, has asked President Donald Trump to pardon him for defrauding customers who placed billions of dollars with the fallen cryptocurrency exchange, according to the U.S. Department of Justice's Office of the Pardon Attorney.

  • June 05, 2026

    Ex-Trader Accused Of Profiting From Cousin's Insider Info

    A retired New York Mercantile Exchange trader is charged with insider trading by securities regulators who allege he bought shares of Sanofi's biopharmaceutical unit Kadmon Holdings Inc. based on confidential information the trader received about Kadmon's flagship chronic graft-versus-host disease treatment drug in July 2021, and that the trader tipped off a friend about the information.

  • June 05, 2026

    DC Circ. Backs CFTC Denial Of $147M Whistleblower Award

    The D.C. Circuit Friday affirmed the U.S. Commodity Futures Trading Commission's decision denying a former trader's bid for a $147 million whistleblower incentive award after he tipped off the agency about foreign exchange market manipulation, saying there's no evidence he was the original source on which the commission relied.

  • June 05, 2026

    Wamco Inks $100M SEC Deal Over 'Cherry-Picking' Scheme

    Western Asset Management Co. LLC on Friday agreed to pay $100 million to settle allegations from the U.S. Securities and Exchange Commission that the investment management firm "failed to take reasonable steps to detect and prevent" its former executive's purported cherry-picking practices.

  • June 05, 2026

    Justices Signal Openness To Future SEC Disgorgement Cases

    The U.S. Securities and Exchange Commission's victory before the U.S. Supreme Court Thursday is likely to give the agency a leg up in settlement negotiations, but attorneys say that some defendants will continue to press judges to review the agency's disgorgement requests based on questions that the high court still hasn't answered.

  • June 05, 2026

    Ex-CFO Faces $35M Restitution With No Crypto Offset

    A Washington federal judge has ordered Fabric Inc.'s former chief financial officer to pay $35 million in restitution after he embezzled the sum from the software firm to invest in crypto tokens that later collapsed, rejecting his arguments that he shouldn't be on the hook for losses that occurred after he gave the tokens to the firm.

  • June 05, 2026

    Activist Warns SpaceX Investors Over Valuation, Governance

    SOC Investment Group is cautioning potential investors in SpaceX's upcoming initial public offering about perceived financial risks, saying it has an inflated valuation and issues over transparency and governance.

  • June 05, 2026

    In Industry First, Cannabis Co. Trulieve Will List On NYSE

    Multistate marijuana company Trulieve Cannabis Corp. announced Friday that in response to a Trump administration rule loosening federal restrictions on medical cannabis, it would be listed on the New York Stock Exchange beginning next week, a first for the marijuana industry.

  • June 05, 2026

    Don't Miss It: Hogan Lovells, Cooley Steer Hot Deals

    A lot can happen in the world of mergers and acquisitions and equity fundraising over the course of a couple of weeks, and it's difficult to keep up with all the deals.

  • June 05, 2026

    Polsinelli Hires Career Gunderson Dettmer Lawyer In SF

    Polsinelli PC has hired a career Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP lawyer who focuses on representing technology companies and venture capital investors in a range of corporate matters, the firm announced Thursday.

  • June 05, 2026

    FinCEN, CFPB Flag Immigration-Linked Risks In Banking Push

    Federal regulators on Friday pressed banks to apply greater immigration-related customer scrutiny, issuing guidance that urges closer monitoring to flag employment of unauthorized workers and cautions immigration status may need to factor into some lending decisions.

  • June 04, 2026

    States Concerned By Treasury's 'OCC-Centric' Stablecoin Plan

    State regulators are urging the U.S. Department of the Treasury to look beyond the coming stablecoin standards promulgated by the Office of the Comptroller of the Currency when assessing the adequacy of state regimes overseeing issuers of the stable-value tokens.

  • June 04, 2026

    OCC's Gould Defends Trump EO On Immigrant Bank Scrutiny

    Republican tensions over President Donald Trump's recent order for greater immigration-related customer scrutiny at banks were on view Thursday in the U.S. House of Representatives as one top regulator told a GOP lawmaker that her concerns about its industry impact were "overblown."

  • June 04, 2026

    Rusoro Says Gold Reserve Can't Blame It For Failed Citgo Bid

    Rusoro Mining Ltd. urged the Delaware Chancery Court on Thursday to dismiss Gold Reserve Ltd.'s lawsuit over a failed bid for Citgo Petroleum Corp.'s parent company, arguing the case is an improper attempt to interfere with a federal court auction that already ended with the approval of a competing bid.

  • June 04, 2026

    DOJ Says Meta And Others Froze $3.8M Tied To Crypto Fraud

    The U.S. Department of Justice announced that private sector corporations, including Meta Platforms Inc. and Google LLC, voluntarily froze over $3.8 million in stolen cryptocurrency during an event known as "Disruption Week."

Expert Analysis

  • Opinion

    The SEC Should Institute A New Enforcement Scorecard

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    Amid controversy over the recent release of the U.S. Securities and Exchange Commission's annual enforcement statistics, the SEC should use a new scorecard that measures how well the Division of Enforcement detects and stops intentional fraud in order to refocus on its core mission of investor protection, says Peter Chan at Baker McKenzie.

  • Series

    Speed Jigsaw Puzzling Makes Me A Better Lawyer

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    My passion for speed puzzling — I can complete a 500-piece jigsaw puzzle in under 50 minutes — has sharpened my legal skills in more ways than one, with both disciplines requiring patience, precision and the ability to keep the bigger picture in mind while working through the details, says Tazia Statucki at Proskauer.

  • How To Reconcile AI Opacity And Advisers' Fiduciary Duties

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    Firms that treat fiduciary compliance as a foundation for responsible artificial intelligence adoption will be best positioned when the U.S. Securities and Exchange Commission moves from implicit expectations to explicit rules regarding advisers' core duties, as those are unlikely to change, says Ivor Wolk at Manatt.

  • Bet On Prediction Market Regulation To Accelerate

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    Watershed developments concerning prediction markets — such as the first insider trading charges, major speeches from U.S. Commodity Futures Trading Commission leadership, and the introduction of rulemaking and legislation — dominated the first quarter of 2026, a trend that will likely continue throughout the rest of the year, say attorneys at K&L Gates.

  • Opinion

    Financial Meltdown Fears Don't Warrant Private Credit Regs

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    Recent withdrawals from business development companies have resurfaced theories that private credit growth poses a crisis-level risk to the financial system, but arguments that more regulation is needed should be viewed with beady and careful eyes, says James Deeken at Akin.

  • 2 AI Snafus Show Why Attys Can't Outsource Judgment

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    The recent incident involving Sullivan & Cromwell where citations in a filed motion were fabricated by artificial intelligence, as well as a punitive ruling from the Sixth Circuit in U.S. v. Farris, demonstrate that the obligation to supervise AI has belonged and always will belong to lawyers, says John Powell at the Kentucky School Boards Association.

  • How Data Center Accounting May Draw Enforcement Scrutiny

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    As public and media scrutiny of the data center industry intensifies, regulators, enforcement authorities and Congress will likely focus on accounting judgments that rely on aggressive assumptions, opaque financing structures or rapidly evolving collateral classes, heightening the risk of investigations and inquiries, say attorneys at King & Spalding.

  • How 'Spillover' Effects Can Skew AI Securities Class Actions

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    Event study evidence is often central in securities litigation at class certification and beyond, but in an environment where earnings forecasts and statements can have spillover market implications, particularly when concerning artificial intelligence, the task of parsing out the price impact of news requires careful consideration, say Erik Johannesson, Olivia Wurgaft and Nguyet Nguyen at Brattle Group.

  • Opinion

    Tribal Gaming Law Is Paramount In Prediction Market Cases

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    Whatever the outcome of the preemption question in prediction market litigation involving states and the federal government, the Indian Gaming Regulatory Act deals very specifically with gaming on Indian lands and almost certainly trumps the general federal laws at issue, says Kevin Washburn at the University of California, Berkeley.

  • Series

    Playing Magic: The Gathering Makes Me A Better Lawyer

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    The competitive card game Magic: The Gathering offers me a training ground for the strategic thinking skills crucial to litigation, challenging me to adapt to oft-updated rules, analyze text as complicated as any statute and anticipate my opponent’s next moves, says Christopher Smith at Lash Goldberg.

  • Why The Wells Process Is No Longer A One-Sided Exercise

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    The U.S. Securities and Exchange Commission's recently revamped Enforcement Manual rewrites the informational asymmetry that has defined SEC defense for decades, providing counsel with several new strategies to produce better submissions, give better advice and achieve better outcomes, says Ashwin Ram at Buchalter.

  • Improving Well-Being In Law, 10 Years After Landmark Study

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    An important 2016 study revealed significant substance abuse and mental health issues among lawyers, and while the findings helped normalize the conversation around these topics, a decade later, structural change is still needed, says Denise Robinson at PLI.

  • 8 Reasons To Consider Maryland As A 'DExit' Option

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    While Nevada and Texas have garnered the most attention as alternative states of incorporation for companies considering leaving Delaware, Maryland offers considerable benefits too, including a predictable statutory framework, robust anti-takeover protections, sophisticated business courts with decades of experience, and more, say attorneys at Miles & Stockbridge.

  • What DOL Proposal Signals For 401(k)s, Alternative Assets

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    The U.S. Department of Labor recently published a highly anticipated proposed rule that could establish more defined pathways for 401(k) plan fiduciaries to consider investment options with greater alternative asset exposure, and help fund sponsors and investment managers develop such options, say attorneys at Cleary.

  • SEC's Enforcement Slowdown May Raise Oversight Questions

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    After six months of enforcement activity, it's clear that fiscal year 2026 will see an unprecedented decline in U.S. Securities and Exchange Commission enforcement activity relative to past years, but whether the SEC will be viewed as sufficiently policing the securities markets at the end of the fiscal year is more uncertain, say attorneys at Covington.

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