Analysis

Trump Cybercrime Order Creates New Compliance To-Do List

By Phillip Bantz

President Donald Trump's recent executive order calling for a coalition of government agencies to combat cybercrime is far more forceful than efforts under prior administrations, according to white collar lawyers, who tentatively applaud the proposal while warning it could raise new compliance risks.

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Feature

Exxon Cements Texas As Delaware's Emerging Rival

By Spencer Brewer

Last year, Vinson & Elkins partner Katherine Frank fielded about one call a week from companies thinking about redomiciling in Texas. Speaking to Law360 the day after ExxonMobil announced its plan to reincorporate in the Lone Star State due to its business-forward courts and policies, Frank said the callers fell into three categories.

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Judge Eyes Halkbank's No-Fine Deal To Nix Sanctions Case

By Stewart Bishop

A Manhattan federal judge Wednesday let prosecutors and Turkey's Halkbank move forward with a no-fine deal that will likely resolve criminal charges alleging the state-backed lender conspired to launder billions of dollars in sanctioned Iranian oil proceeds.

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Microsoft Backs Anthropic In DOD Security Risk Label Row

By Madeline Lyskawa

Microsoft has thrown its support behind Anthropic's bid to block the Trump administration from enforcing an order designating the artificial intelligence company a supply chain risk to national security, saying an injunction would avoid disrupting the military's use of advanced AI.

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17 States Fight 'Unprecedented' WH Admissions Data Demand

By Julie Manganis

A coalition of more than a dozen states led by Massachusetts asked a federal judge Wednesday to block enforcement of a new Trump administration requirement to retroactively report detailed data on sex and race in college admissions, saying the survey was hastily implemented and rife with issues that expose schools to potential liability.

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2nd Circ. Spurns DOT Bid To Re-Freeze Hudson Tunnel Funds

By Linda Chiem

The Second Circuit on Wednesday rejected the Trump administration's bid to again freeze federal payments to New York and New Jersey for the ongoing $16 billion rehabilitation of aging commuter train tunnels under the Hudson River.

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Fed's Bowman Eyes 'Fine-Tuning' Of Bank Merger Reviews

By Jon Hill

Federal Reserve Vice Chair for Supervision Michelle Bowman said Wednesday that federal regulators are taking a look at the competition metrics used to evaluate bank mergers, signaling potential changes to the thresholds that guide when deals raise antitrust concerns.

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Aetna Will Pay $117.7M To Resolve False Billing Suit

By P.J. D'Annunzio

Aetna Inc. has agreed to pay $117.7 million to settle claims that the company violated the False Claims Act by submitting, and failing to correct, false diagnosis codes for its Medicare Advantage plan customers in order to boost cash flow from the federal insurance program, the U.S. attorney's office in Philadelphia said Wednesday.

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Investor Says JPMorgan Enabled $328M Crypto Scam

By Carolina Bolado

A proposed class suit filed Tuesday in California federal court accuses JPMorgan Chase Bank NA of enabling a $328 million cryptocurrency scam at Florida-based Goliath Ventures Inc.

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Plaintiffs Seek Final OK Of $425M Capital One Rate Deal

By Sydney Price

Consumers claiming Capital One deceptively advertised its 360 Savings accounts have asked a Virginia federal judge to grant final approval to their settlement with the bank, a revised version of a previous deal that was rejected last year and expected to provide over $1 billion in benefits to the class.

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PNC Bank, Coin Dealer Sued Over $400K Elder Fraud Loss

By Sydney Price

PNC Bank and New Jersey-based precious metals dealer American Coin & Stamp Co. Inc. have been hit with a retiree's complaint accusing them of ignoring red flags in an elder financial exploitation scheme, which involved the plaintiff handing over nearly $400,000 in gold coins directly to scammers.

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FDIC Plans No Pass-Through Stablecoin Insurance, Hill Says

By Jon Hill

Federal Deposit Insurance Corp. Chairman Travis Hill said Wednesday that his agency will propose expressly excluding payment stablecoins from pass-through insurance coverage, outlining the move as part of a wide-ranging update on his to-do list of regulatory initiatives.

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Kalshi Sues Iowa Regulators To Shield Sports Event Contracts

By Katryna Perera

Kalshi sued Iowa state regulators Wednesday, seeking to stop the state from taking enforcement action against the prediction market's sports-event contracts, following a script that has played out across several states.

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Dems Float Bill To Ban Death-Tied Event Contracts

By Aislinn Keely

Two Democrats from California are proposing to outlaw event contracts that reference or relate to terrorism, war or an individual's death amid the rise of certain prediction markets involving political shake-ups.

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Calif. City Must Pay Dow, PPG $6.5M Over Hidden Reports

By Bonnie Eslinger

A San Francisco judge on Wednesday ordered a California city to pay more than $6.5 million in sanctions for destroying and concealing reports in litigation against Dow Chemical and PPG Industries over dry cleaning chemicals that allegedly contaminated city sites, calling the withheld discovery an "explosive development."

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Del. High Court Upholds Pioneer Win In $60B Exxon Deal Fight

By Jarek Rutz

The Delaware Supreme Court on Wednesday affirmed a lower court ruling denying a union pension fund's request for additional internal communications related to the roughly $60 billion merger between Pioneer Natural Resources Co. and ExxonMobil Corp., concluding that the Delaware Chancery Court correctly rejected the stockholder's bid to obtain more emails and text messages from the company's former chief executive.

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Dem Lawmakers Dispute Economics Of Arctic Oil Leasing

By Joyce Hanson

Democratic lawmakers in the U.S. Senate and House have condemned the Trump administration's plans to auction off lands within the Arctic National Wildlife Refuge to oil and gas companies, saying there is no economic interest to be gained from drilling.

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MV Realty Settles Mass. AG's Predatory Mortgage Claims

By Julie Manganis

Real estate lender MV Realty's Massachusetts subsidiary and owners have agreed to discharge and release what the state's attorney general has called predatory mortgages peddled to vulnerable homeowners, resolving a 2022 lawsuit against the company.

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Intel Caved To Feds' 'Extortionary' Stock Demand, Suit Says

By Lauren Berg

Intel Corp.'s board gave the federal government $11 billion worth of stock in response to the Trump administration's "extortionary threats," according to a newly unsealed lawsuit brought by a shareholder who says the board lacked authority to issue the U.S. Department of Commerce a 9.9% company stake.

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Advocacy Group Asks Ill. Judge To Block Trump DEI Orders

By Celeste Bott

Counsel for an advocacy group supporting human trafficking survivors urged an Illinois federal judge Wednesday to block two of President Donald Trump's executive orders restricting federal diversity, equity and inclusion initiatives, arguing that the coalition has been forced to censor its speech for fear of losing Department of Justice grants it needs to operate.

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Wash. Says ICE Contractor Cannot Defend Barring Inspection

By Elaine Briseño

The Washington State Department of Health said a contractor's attempts to escape an evidentiary hearing demonstrated that the company could not defend its jurisdictional claims in a lawsuit accusing it of illegally restricting access to an immigration facility.

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Mass. High Court Orders School To Comply With Records Law

By Julie Manganis

A publicly funded charter school is required to follow Massachusetts' public records laws, the state's highest court said Wednesday, affirming a series of orders to comply with requests for information about legal bills and other expenditures.

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La. Fights Dismissal Bid In Abortion Regulation Dispute

By Gianna Ferrarin

The state of Louisiana urged a federal court to deny motions by GenBioPro Inc. and Danco Laboratories seeking dismissal of its suit challenging federal regulation on mail-order abortion drugs, arguing it has established harms stemming from the regulations.

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Ex-Trump Media Exec Says Deposition Should Be Shortened

By Abigail Harrison

Counsel for a source in a 2023 Washington Post article that described securities fraud within Truth Social's parent company implored a North Carolina federal court to shave hours off the source's deposition Wednesday, less than two days before it's scheduled.

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Calif. Wants Truck Cos., Feds' Clean Truck Pact Claims Nixed

By Bryan Koenig

California officials again asked a federal judge to gut key claims from heavy-duty truck manufacturers and the federal government challenging the 2023 deal in which the manufacturers agreed to stringent state emissions standards and stiff penalties for noncompliance in the coming years.

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DOL Won't Oppose Vacating ERISA Fiduciary Rule In Texas

By Kellie Mejdrich

An insurance trade group challenging the U.S. Department of Labor's regulations expanding the definition of an investment advice fiduciary under the Employee Retirement Income Security Act asked a Texas judge Wednesday to vacate the policies and said the DOL didn't oppose the request.

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Uber Must Fork Over Internal Docs In FTC Subscription Fight

By Dorothy Atkins

A California magistrate judge ordered Uber to produce numerous internal documents to the Federal Trade Commission on Wednesday in litigation accusing the ride-share giant of enrolling consumers into its paid subscription service without consent, after the FTC accused the company of stonewalling discovery and producing only 72 documents totaling 179 pages.

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Brief

Wisconsin Bell, Feds Settle 17-Year-Old FCA Suit For $55M

By Nadia Dreid

Wisconsin Bell will pay $55 million to end long-running False Claims Act whistleblower claims accusing the company of overcharging public schools and libraries for internet services paid for by the government under the federal E-rate program, bringing almost 18 years of litigation to an end.

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Sens. To Examine US Plans For Global Spectrum Talks

By Christopher Cole

With global talks over managing the airwaves set for next year, senators overseeing U.S. radio spectrum policy will focus a hearing next week on how the U.S. can get a leg up on using the airwaves to fuel economic growth.

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Md. Gov't Agencies Oppose Talkie's FCC Preemption Bid

By Nadia Dreid

A Maryland-based internet service provider was not up front with the Federal Communications Commission about the details surrounding a permitting dispute when it came to the agency to ask it to preempt local regulations and allow it to move forward with a new utility pole and attachments without them, an Old Line State county says.

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NM Authorizes Property Tax To Pay Bonds, Interest, Costs

By Zak Kostro

New Mexico authorized the imposition of a property tax to repay principal, interest and costs for state-issued bonds, which are subject to voter approval, under a bill signed by the governor.

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Fed Corruption Prosecutor Joins Jenner & Block In Chicago

By Joyce Hanson

An ex-prosecutor at the U.S. Attorney's Office in Chicago, who played a key role in successfully trying former Illinois House Speaker Michael Madigan, has departed her position as chief of its public corruption unit to join Jenner & Block LLP's investigations team.

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Spencer Fane Hires Transactions, Banking Partners In D.C.

By Jack Rodgers

Spencer Fane LLP has hired two attorneys in Washington, D.C., who focus their practices on consumer financial matters, financial services and compliance-related issues, the firm announced Tuesday.

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AG Watch: Ohio Targets DEI Policies

As Ohio Attorney General Dave Yost seeks to eliminate diversity, equity and inclusion programs in both public education institutions and private companies, Ohio entities must carefully navigate this constantly evolving, highly contentious topic to avoid litigation while also not forfeiting their core principles, say attorneys at BakerHostetler.

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Del. Coinbase Outcome May Have Been Different In Texas

The Delaware Court of Chancery's recent decision in Grabski v. Andreessen, finding that a member of the Coinbase special litigation committee was not independent, provides guidance for Delaware boards regarding the formation, composition and operation of SLCs, while offering a counterpoint to the procedures available to Texas-incorporated companies, says John Lawrence at Baker Botts.

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When Fraud Involvement Disqualifies FCA Whistleblowers

A Massachusetts federal court's recent dismissal of a False Claims Act relator in U.S. ex rel. Perry v. First Psychiatric Planners provides instructive insight into when whistleblowers may be denied their share of settlement proceeds, even if their involvement in the underlying fraud is a step removed, say attorneys at Holland & Knight.

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Why The NCUA's Stablecoin Moment Matters

The National Credit Union Administration, a historically conservative federal agency, recently proposed a detailed stablecoin licensing framework, confirming that the proposition of building a regulatory architecture within the banking industry has moved well past "whether" and firmly into "how," says Stephen Aschettino at Fox Rothschild.

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Structuring Water Agreements For Data Center Development

For developers of artificial intelligence data centers, water use is now a threshold feasibility and financing variable amid a regulatory landscape with a state-driven push for transparency and federal push to streamline pathways for AI-related infrastructure, say attorneys at Pillsbury.

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Takeaways From Calif. High Court's Public Records Decision

The California Supreme Court’s recent City of Gilroy v. Superior Court decision — clarifying the relief available under, and the duties imposed by, the California Public Records Act — expands the strategic significance of CPRA actions and demands greater foresight in public records practice, say attorneys at Hanson Bridgett.

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4th Circ. Scolds Atty Suspected Of Using AI In Race Bias Suit

By Patrick Hoff

The Fourth Circuit has reprimanded an attorney suspected of using generative artificial intelligence to draft briefs in a race discrimination lawsuit against Baltimore Gas and Electric Co., warning that courts need to grapple with the technology as it "may soon become the norm."

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Democrats Seek Review Of Bondi's Role In Brother's Cases

By Alison Knezevich

Two Democratic lawmakers have asked the U.S. Department of Justice's inspector general to review whether Attorney General Pam Bondi "adequately recused herself" from cases involving clients represented by her brother Brad Bondi, who is a partner at Paul Hastings LLP.

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Sinema Says Tryst With Ex-Guard Not In NC Court's Reach

By Abigail Harrison

Former U.S. Sen. Kyrsten Sinema, now a Hogan Lovells attorney, told a North Carolina federal court Thursday that a lawsuit alleging her cross-country affair with a former member of her security detail ended a 14-year marriage must be dismissed because the trysts occurred outside state borders.

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Ex-Judge Testifies About Alleged Forgeries In Amazon Case

By Kelcey Caulder

The former chief judge of the U.S. District Court for the Northern District of Georgia testified Thursday about the alleged forging of court documents, signatures and court stamps in a criminal case against a woman accused of defrauding Amazon out of $9.4 million through fraudulent invoices. 

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Judge Newman Takes Suspension Battle To Supreme Court

By Ryan Davis

Federal Circuit Judge Pauline Newman brought her fight against a suspension imposed on her by her colleagues to the U.S. Supreme Court on Thursday, arguing that a lower court wrongly held that her challenges to the order are not subject to judicial review.

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Calif. Bar Says Internal Docs Bolster Claims Against Exam Co.

By Emily Sawicki

The State Bar of California has bulked up its breach of contract and fraud suit against the administrator of its "disastrous" February 2025 bar exam, filing an amended complaint in light of information it says it learned from internal communications unearthed amid discovery.

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Holyoak's US Attorney Nomination Advances

By Courtney Bublé

The nomination of Melissa Holyoak, former commissioner of the Federal Trade Commission, to be U.S. attorney for the District of Utah was sent to the full Senate on Thursday.

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CFTC Takes 1st Steps Toward Prediction Market Regulations

By Jessica Corso

The U.S. Commodity Futures Trading Commission opened the door Thursday to promised prediction market regulation, calling for public feedback on what such rules might look like while laying out the staff's view on the current rules that the platforms should follow in order to offer betting on sports and other events.

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