Capital Markets

  • February 12, 2025

    Trump Picks Crypto Policy Advocate Quintenz To Lead CFTC

    President Donald Trump has nominated Brian Quintenz, a former member of the U.S. Commodity Futures Trading Commission and current head of policy for venture capital firm a16z's crypto fund, to lead the derivatives market regulator.

  • February 11, 2025

    DOGE, Treasury Accused Of 'Largest' US Data Breach

    Elon Musk's Department of Government Efficiency, the U.S. Department of the Treasury and the U.S. Office of Personnel Management conducted the "largest" data and IT security breaches in U.S. history, illegally exposing millions of people's sensitive information, a data privacy watchdog and group of federal employees alleged this week.

  • February 11, 2025

    Quantum Computing Secures TRO In Battle With Investor

    New Jersey-headquartered Quantum Computing Inc. won continuation of a Delaware Court of Chancery temporary restraining order Tuesday against a former consultant and advisory firm, barring their alleged use of trade secrets and other confidential information pending a preliminary injunction hearing or trial.

  • February 11, 2025

    'Fraudster' Or 'Fool'? Jury Gets 2 Takes On Exec's Crypto Flop

    The criminal case against a cryptocurrency company CEO accused of defrauding investors of $5 million is about "greed," a prosecutor told a California federal jury during opening arguments Tuesday while a defense lawyer characterized his client as a "fool" who floundered while "swimming with sharks," including disgraced ex-lobbyist Jack Abramoff.

  • February 11, 2025

    Crypto Bills A 'Test Case' For AI Regs, GOP Senator Says

    A Republican U.S. senator who is leading the push for crypto industry regulation said Tuesday that Congress' actions in the digital asset space could determine whether there is a path forward for writing regulations governing the artificial intelligence industry.

  • February 11, 2025

    Brokerage Exec Can Be Sued Over Fraud Claims, Judge Says

    An Illinois magistrate judge told the former owner of Center Street Securities on Tuesday that he cannot escape claims he concealed regulatory issues before his company was acquired by financial services company Arete Wealth, ruling that the stock purchase agreement's broad definition of liabilities could include the allegedly undisclosed violations at issue in the suit.

  • February 11, 2025

    Labaton Keller Appointed Lead In Healthcare Co. IPO Suit

    A New York federal judge on Tuesday appointed Labaton Keller Sucharow LLP as lead counsel in a securities class action accusing nursing-care provider PACS Group Inc. of misleading investors about false Medicare claims and regulatory investigations tied to its initial public offering.

  • February 11, 2025

    SEC Stays Binance Case Amid Other Crypto Case Extensions

    The U.S. Securities and Exchange Commission and crypto exchange Binance have asked a Washington federal judge overseeing their enforcement suit to pause the case for two months as the agency pivots its approach to digital assets, adding to the list of extensions in the agency's cryptocurrency cases.

  • February 11, 2025

    Olaplex Can't Escape IPO Investors' Formula Change Suit

    Olaplex and some of its executives must face investor claims that the company's initial public offering documents did not disclose the European Union had banned a controversial ingredient known as lilial, which would impact Olaplex's main product offering, but the IPO underwriters and selling stockholders were allowed to escape the suit.

  • February 11, 2025

    Goldman Sachs Scraps Diversity Mandate For IPO Candidates

    The Goldman Sachs Group Inc. said Tuesday that it's ending a pledge to only take companies public that contain at least two diverse board members, marking the latest of many retreats by corporations amid mounting legal and political opposition to diversity initiatives.

  • February 11, 2025

    Activist Elliott Targets Phillips 66 Again Over Lack Of Progress

    Activist investor Elliott Investment Management LP on Tuesday sent a letter to the board of directors of energy conglomerate Phillips 66 calling for "urgent changes" to improve operating performance and regain shareholder trust, saying "another year of empty rhetoric and broken promises is unacceptable."

  • February 11, 2025

    Botkin Chiarello Adds Litigator From Cleveland Krist

    Botkin Chiarello Calaf PLLC — an Austin, Texas, firm opened by six former Wittliff Cutter PLLC attorneys in 2023 that is focused on commercial and intellectual property litigation and general business counseling — has welcomed a litigator from Cleveland Krist PLLC.

  • February 11, 2025

    TD Bank To Sell Schwab Stake In Roughly $13.1B Offering

    TD Bank Group on Tuesday announced the terms of the sale of its entire equity investment in the financial services giant Charles Schwab Corp., detailing its plan to sell its 10.1% ownership stake in a $13.1 billion deal.

  • February 11, 2025

    Republican-Led SEC Pauses Climate Regulation Litigation

    The U.S. Securities and Exchange Commission signaled Tuesday that it may not move forward with a Biden-era regulation requiring public companies to disclose their greenhouse gas emissions, asking the court overseeing litigation against the climate reporting rules not to schedule the case for oral argument.

  • February 10, 2025

    FTX Having Trouble Serving Binance With Ch. 11 Lawsuit

    The estate of fallen cryptocurrency exchange FTX told a Delaware bankruptcy judge late Friday that its attorneys haven't yet been able to serve Binance and its former CEO Changpeng Zhao a lawsuit seeking to recover nearly $1.8 billion that FTX is accused of illegally transferring prior to its collapse two years ago.

  • February 10, 2025

    AI Copyright Plaintiffs Say Google Is Raising 'Marginal issues'

    Artists and authors suing over how Google trains its artificial intelligence software say that the tech giant is disputing "marginal issues" that other tech giants facing similar copyright lawsuits over similar technology haven't brought up.

  • February 10, 2025

    Merrill Lynch Objects To New Discovery Bid In Stock Loan Suit

    Merrill Lynch told a New York federal court it should deny investors' request for supplemental transaction data in their suit alleging major banks colluded to avoid modernizing the stock loan market, arguing that the discovery period has closed, and there are no legitimate reasons to grant the "burdensome" request.

  • February 10, 2025

    Feds Nab Plea In Bitcoin-Boosting Hack Of SEC X Account

    An Alabama man on Monday pled guilty to being involved with the hack of the U.S. Securities and Exchange Commission's X account last year, admitting to a single conspiracy charge and agreeing to forfeit $50,000 he made from the scheme that briefly bumped the price of bitcoin.

  • February 10, 2025

    FDIC's McKernan Exits Board As Republicans Max Out Seats

    Republican Jonathan McKernan announced Monday that he'll vacate his seat on the Federal Deposit Insurance Corp.'s board, given the expiry of his term and the addition of a Trump appointee that brings the board to its maximum number of GOP-held seats.

  • February 10, 2025

    Grayscale Beats Bitcoin Rival's $2M Unfair Practices Suit

    A Connecticut state court judge has handed digital asset management firm Grayscale Investments LLC a summary judgment win on a smaller rival's $2 million unfair trade practices suit over a bitcoin feud, finding that the relevant state law does not apply to the dispute.

  • February 10, 2025

    SEC Grants Short-Selling Disclosure Reprieve, CAT Relief

    The U.S. Securities and Exchange Commission is providing a temporary exemption in order to allow investment managers more time to comply with new rules requiring increased disclosure on short selling, and separately said it will no longer require certain personally identifiable information to be reported to the market database known as the Consolidated Audit Trail.

  • February 10, 2025

    Simpson Thacher Brings On Registered Funds Partner In NY

    Simpson Thacher & Bartlett LLP has hired a New York-based partner in its registered funds practice to focus on real estate and capital markets, the firm said Monday.

  • February 10, 2025

    9th Circ. Tosses Slack Investor Suit After High Court Battle

    The Ninth Circuit on Monday released Slack Technologies Inc. from an investor dispute that was previously ruled on by the U.S. Supreme Court, with the circuit court going a step further than the high court in ruling that none of the suing investors' claims were salvageable due to the unique way that Slack went public. 

  • February 07, 2025

    Chancery Tosses $3.4B Hertz Stock Warrant Redemption Suit

    Delaware's Court of Chancery dismissed a suit Friday filed by two Hertz institutional investors accusing the company of relying on an impermissible reinterpretation of a warrant agreement to reject a redemption demand purportedly triggered by the company's post-Chapter 11 recapitalization, finding the plaintiffs' interpretation of the agreement leads to "absurd results."

  • February 07, 2025

    NJ Statehouse Catch-Up: Offshore Wind, AI, Neurodiversity

    The retraction of New Jersey's fourth offshore wind solicitation came alongside a wave of legislative and regulatory activity that also proposed workplace rules to bolster inclusivity and a new compensation path for assault victims

Expert Analysis

  • Applying High Court's Domestic Corruption Rulings To FCPA

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    After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q3

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    In the third quarter of the year, California continued to be at the forefront of banking regulation as it enacted legislation on unfair banking practices and junk fees, and the state Department of Financial Protection and Innovation notably initiated enforcement actions focused on crypto-assets and student loan debt relief, say Stuart Richter and Eric Hail at Katten.

  • 2 High Court Securities Cases Could Clarify Pleading Rules

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    In granting certiorari in a pair of securities fraud cases against Facebook and Nvidia, respectively, the U.S. Supreme Court has signaled its intention to align interpretations of the heightened pleading standard under the Private Securities Litigation Reform Act amid its uneven application among the circuit courts, say attorneys at V&E.

  • Series

    Collecting Art Makes Me A Better Lawyer

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    The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.

  • Series

    A Day In The In-House Life: Best Egg CLO Talks Power Of Prep

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    On a typical Monday in her life, Best Egg Chief Legal Officer Amy Thoreson Long chronicles a remote workday in which she makes time for everything from getting ahead on regulatory issues and researching recent Supreme Court decisions to dog walks and podcast breaks.

  • Takeaways From TOTSA Settlement And Critical CFTC Dissent

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    The U.S. Commodity Futures Trading Commission's recent settlement with TOTSA highlights the agency's commitment to enforcing market integrity and deterring manipulative practices, while Commissioner Caroline Pham's dissent to the settlement spotlights the need for transparency and consistency in enforcement actions, say attorneys at Davis Wright.

  • Litigation Inspiration: Honoring Your Learned Profession

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    About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.

  • Payward And The Secondary Crypto Transaction Confusion

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    Following orders in cases against Coinbase and Binance, the recent California federal court ruling in U.S. Securities and Exchange Commission v. Payward raises even more questions about regulation of secondary transactions involving crypto-assets, as it tries to sidestep fundamental flaws in the SEC's legal theories, say attorneys at Cahill Gordon.

  • Opinion

    AI May Limit Key Learning Opportunities For Young Attorneys

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    The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.

  • What's In The Cards For CFTC's Election Betting Case

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    A D.C. federal judge's Sept. 12 ruling, allowing KalshiEx to offer derivative contracts trading on the outcome of the U.S. congressional elections over objections from the U.S. Commodity Futures Trading Commission, could mark a watershed moment in the permissibility of election betting if upheld on appeal, say attorneys at BakerHostetler.

  • Kubient Case Shows SEC's Willingness To Charge Directors

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    The U.S. Securities and Exchange Commission's recent fraud charges against Kubient's former CEO, chief financial officer and audit committee chair signal a willingness to be more aggressive against officers and directors, underscoring the need for companies to ensure that they have appropriate channels to gather, investigate and document employee concerns, say attorneys at Jenner & Block.

  • Basel Endgame Rules: A Change Is Coming

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    The Federal Reserve Board's recently announced recalibration of the Basel endgame proposal begins a critical chapter in the evolution of not only the safety and soundness of U.S. banks, but also of banks' abilities to lend and support American businesses and consumers, say attorneys at Davis Wright.

  • What PCOAB's Broadened Liability Rule Means For Auditors

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    The U.S. Securities and Exchange Commission’s recent vote agreeing to lower the Public Company Accounting Oversight Board's liability standard, allowing the board to charge individual auditors whose mere negligence leads firms into PCOAB violations, may erode inspection cooperation, shrink the talent pool and have anticompetitive outcomes, say attorneys at BakerHostetler.

  • Series

    Round-Canopy Parachuting Makes Me A Better Lawyer

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    Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.

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