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Compliance
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April 03, 2025
Crypto Co. Sentenced In Fed Market Manipulation Suit
United Arab Emirates-based CLS Global FZC LLC has been sentenced in Massachusetts federal court on criminal charges over running a fraudulent "wash trading" scheme after it pled guilty to the charges in January and agreed to stop working in the U.S. cryptocurrency industry.
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April 03, 2025
CFTC Taps New Acting Head Of Market Oversight Division
The Commodity Futures Trading Commission announced Wednesday that its Division of Market Oversight will be headed on an acting basis by a longtime employee of the derivatives market regulator who helped start the division's Market Intelligence Branch.
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April 03, 2025
DC Circ. Steps In To Pause CFPB Order As Judge Denies Stay
A D.C. Circuit panel on Thursday put a temporary, limited hold on a federal judge's preliminary injunction barring further cuts at the Consumer Financial Protection Bureau, even as the judge herself largely denied a Trump administration bid to stay it for appeal.
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April 03, 2025
House Moves Stablecoin Bill Despite Dems' Conflict Concerns
The House Financial Services Committee advanced its federal framework for stablecoins just before midnight Wednesday following hours of markup during which Democrats raised concerns that the Trump family and administration officials' involvement with crypto ventures will create conflicts of interest.
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April 03, 2025
UFC Asks Court To Deny Class Cert. In Fighters' Antitrust Suit
UFC has urged a Nevada federal court not to certify a class of fighters in the second antitrust lawsuit it is facing over allegedly suppressed wages, saying the class is legally defective because the plaintiffs who filed the lawsuit cannot represent the group of fighters.
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April 03, 2025
Justices' Ruling Empowers FDA To Rein In Vapes, Experts Say
A unanimous U.S. Supreme Court decision affirming federal regulators' authority to deny marketing applications for flavored vapes was noted as a victory for federal agency autonomy, but vaping industry interests said it could remove a crucial harm reduction tool.
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April 03, 2025
Google, Apple Staff Must Testify In Meta Antitrust Case
A D.C. federal judge said current and former employees of Google, Apple, TikTok, X Corp., Snap and other tech companies must testify at the Federal Trade Commission's upcoming antitrust trial against Meta Platforms Inc.
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April 03, 2025
$10M Heritage Pharma Price-Fixing Deal Gets Final OK
A Connecticut federal judge granted final approval to a $10 million deal between Heritage Pharmaceuticals Inc., its parent company Emcure Pharmaceuticals Ltd. and Emcure's founder Satish Mehta to resolve claims from a coalition of states accusing them of conspiring with other companies to inflate generic drug prices.
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April 03, 2025
Tribes Seek Priority Window For Upcoming Spectrum Auction
Native American tribes pressed the Federal Communications Commission to let them apply during a priority window for an upcoming auction of commercial spectrum, as the FCC has done previously to boost tribal connectivity.
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April 03, 2025
Echoing EEOC, Red State AGs Target Law Firms Over DEI
A dozen Republican state attorneys general on Thursday urged 20 law firms to fork over information the U.S. Equal Employment Opportunity Commission requested last month about their workplace diversity practices, doubling down on the acting EEOC chair's claim that those practices may be unlawful.
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April 03, 2025
6th Circ. Backs $10M Gas Royalty Judgment Against Antero
A Sixth Circuit panel affirmed an Ohio district court ruling holding that Antero Resources Corp. underpaid a class of Buckeye State landowners $10 million by improperly deducting costs from their natural gas royalties.
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April 03, 2025
SEC's Gemini Crypto Trading Suit Paused For More Deal Talks
A New York federal judge paused the U.S. Securities and Exchange Commission's unregistered securities trading claims against cryptocurrency exchange Gemini Trust Co. after the agency and the company informed the court they were approaching a resolution, which would be the second deal reached in the case.
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April 03, 2025
'No Serious Question' Federal Firings Broke Law, Justices Told
Federal employee unions and advocacy groups urged the U.S. Supreme Court on Thursday to reject the Trump administration's bid to pause a California court order reinstating tens of thousands of probationary workers fired from six agencies, arguing the government can't escape self-inflicted harms brought on by its allegedly unlawful actions.
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April 03, 2025
Senate Advances Noms Of Trump's SEC, OCC Picks
The U.S. Senate Banking Committee voted along party lines Thursday to advance the nominations of President Donald Trump's chosen leaders for the U.S. Securities and Exchange Commission and the Office of the Comptroller of the Currency, sending both to the full Senate for a final confirmation vote.
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April 03, 2025
Carnegie Mellon Student Sues Over August 2023 Data Hack
A Carnegie Mellon University student launched a proposed class action in Pennsylvania federal court on Thursday alleging that despite charging students a $470 technology fee presumably meant for maintaining network data security, the school negligently failed to stop an August 2023 hacking event that compromised students' personally identifiable information.
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April 03, 2025
EU Authorities Arrest 3 In €50M VAT Fraud Investigation
Authorities have arrested three people for their alleged ties to a €50 million ($55 million) value-added tax fraud scheme involving the trade of electronic goods, the European Public Prosecutor's Office said Thursday, tying this fraud to a larger €195 million scheme that is still under investigation.
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April 03, 2025
Judge OKs Toss Of FCPA Case Against Ex-Cognizant Execs
A New Jersey federal judge on Thursday granted the federal government's bid to end the Foreign Corrupt Practices Act case against two former executives of Cognizant Technology Solutions Corp., ending a legal battle that was beset by delays throughout its six-year run.
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April 03, 2025
SunSetter To Pay $9M Over Defective Awning Covers
A Massachusetts awning manufacturer will pay $9.25 million and implement a new compliance program to settle civil claims that it failed to report defective awning covers to the Consumer Product Safety Commission, allegedly leading to multiple injuries and at least one death.
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April 03, 2025
Ky. Allows Special Property Tax In Development Project Areas
Kentucky authorized taxing districts organized as part of regional economic development projects to impose a special tax on property located within their boundaries under a bill signed by Gov. Andy Beshear.
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April 03, 2025
Adams Case Threatens NY Southern District's 'Supremacy'
The controversial end to New York City Mayor Eric Adams' historic criminal corruption prosecution could threaten the Southern District of New York's privileged status within the Justice Department and its leverage over other districts when it comes to vying for the lead on high-profile cases, experts say.
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April 03, 2025
Trump FCC Nominee Set For Senate Hearing Next Week
The Senate Commerce Committee will hold an April 9 confirmation hearing on Olivia Trusty, the White House nominee for a third Republican seat on the Federal Communications Commission.
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April 02, 2025
Perkins Coie Urges Court To End Trump's 'Assault' On Firm
Perkins Coie LLP on Wednesday asked a D.C. federal judge to permanently block enforcement of President Donald Trump's "unconstitutional assault" on the firm and the rule of law, filing a summary judgment bid the same day the federal government pushed for the firm's suit to be tossed.
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April 02, 2025
Narrowed Challenge To RI Offshore Wind Project Proceeds
A D.C. federal judge narrowed a suit seeking to halt work on Revolution Wind, a wind farm project off the coast of Rhode Island, tossing claims brought under three separate federal laws and dismissing claims brought by numerous plaintiffs under other environmental and wildlife protection, and historic preservation laws.
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April 02, 2025
5th Circ. Presses Jackson, Miss., About Lead Levels In Water
A Fifth Circuit panel pressed the city of Jackson, Mississippi, about its allegedly slipshod handling of lead contamination in city drinking water during oral arguments Wednesday, with one judge saying city officials seemingly "very artfully avoided" questions about poisoned drinking water to skirt culpability.
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April 02, 2025
NIH Sued By Researchers Over 'Ideological Purge' On Grants
The American Public Health Association and others sued the federal government in Massachusetts federal court on Wednesday over the cancellations of billions of dollars worth of National Institutes of Health research grants on such issues as gender identity, diversity, vaccine hesitancy and climate change, claiming the "ideological purge" is illegal.
Expert Analysis
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How The AI Antitrust Landscape Might Evolve Under Trump
The Trump administration's early actions around artificial intelligence and antitrust policy, along with statements from competition regulators, suggest that the AI competition landscape may see reduced scrutiny around acquisitions, but not an entirely hands-off enforcement approach, say attorneys at Hogan Lovells.
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McMahon SEC Settlement Warns Of Nondisclosure's Price
The U.S. Securities and Exchange Commission's recent financial nondisclosure settlement with former WWE CEO Vince McMahon illustrates the breadth of executives' reimbursement obligations under the Sarbanes-Oxley Act and highlights the importance of building robust internal corporate reporting processes, say attorneys at BCLP.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Questions Remain After Justices' Narrow E-Rate FCA Ruling
The U.S. Supreme Court’s recent decision in Wisconsin Bell, holding that requests for reimbursement from the Federal Communications Commission's E-Rate program are subject to False Claims Act liability, resolves one important question but leaves several others open, says Jason Neal at HWG.
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How DOGE's Severance Plan May Affect Federal Employees
President Donald Trump's administration, working through the Department of Government Efficiency, recently offered a severance package to nearly all of the roughly 2 million federal employees, but unanswered questions about the offer, coupled with several added protections for government workers, led to fewer accepted offers than expected, says Aaron Peskin at Kang Haggerty.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Short-Term Predictions For The CFPB's Fate Under Trump
Though the Trump administration is unlikely to succeed in abolishing the Consumer Financial Protection Bureau, new leadership will likely moderate enforcement, possibly prompting state attorneys general to step up supervision, say attorneys at Husch Blackwell.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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A Closer Look At FDX's New Role As Banking Standard-Setter
Should the new Consumer Financial Protection Bureau let stand the decision empowering Financial Data Exchange as an industry standard-setter, it will be a significant step toward broader financial data-sharing, but its success will depend on industry adoption, regulatory oversight and consumer confidence, say attorneys at Clark Hill.
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What To Expect In Crypto Banking After SEC Nixed Guidance
With the U.S. Securities and Exchange Commission recently rescinding its controversial cryptocurrency accounting guidance, the industry's focus will turn to the potentially significant hurdle to crypto banking posed by the federal banking regulators, say attorneys at Duane Morris.
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Partially Faulting Airline For 401(k) ESG Focus Belies ERISA
A Texas federal court's recent finding that American Airlines breached its fiduciary duty of loyalty, but not of prudence, by letting its 401(k) pursue environmental, social and governance investments, misinterprets the Employee Retirement Income Security Act's standard of care, says Jeff Mamorsky, a Cohen & Buckmann partner and ERISA drafter.
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Fund Names Rule FAQs Leave Some Interpretative Uncertainty
Although recently released FAQs clarify many specific points of the 2023 expansion to the Investment Company Act's fund names rule, important questions remain about how U.S. Securities and Exchange Commission staff will interpret other key terms when the end-of-year compliance date arrives, say attorneys at Dechert.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Opinion
US Steel-Nippon Merger Should Not Have Been Blocked
The Biden administration's block of the U.S. Steel and Nippon Steel merger on national security grounds was unconstitutional overreach and needs to be overturned, with the harms remedied in federal court, says attorney Chuck Meyer.
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Biden-Era M&A Data Shows Continuity, Not Revolution
While the federal antitrust agencies under former President Joe Biden made broad claims about increasing merger enforcement activity, the data tells a different story, with key claims under Biden coming in at the lowest levels in decades, say attorneys at Covington.