SEC's Peirce Calls For Crypto-Updated Liquidity Rule

By Jessica Corso

U.S. Securities and Exchange Commission member Hester Peirce, the leader of the agency's crypto task force, called Thursday for public feedback on how the agency might apply a rule on broker liquidity to firms that choose to keep stablecoins on hand.

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Nev. Wants Latest Kalshi Betting Case Waged In State Court

By Alex Lawson

Nevada's efforts to shutter Kalshi's sports event contracts are mired in an early procedural snag as the prediction market angles to litigate in federal court, while the Silver State pushes to keep the dispute within its own judicial system.

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Warren Seeks Treasury, Fed Pledge Of No Bitcoin Bailout

By Rick Archer

Sen. Elizabeth Warren, D-Mass., is asking the U.S. Treasury and Federal Reserve to provide a written pledge not to bail out cryptocurrency markets in the face of sliding bitcoin prices, saying such a move would disproportionately benefit billionaires.

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JPMorgan Pans Trump's 'Woefully Inadequate' Debanking Suit

By Jon Hill

JPMorgan Chase on Thursday removed President Donald Trump's $5 billion "debanking" lawsuit to Florida federal court, saying it plans to fight for dismissal of the case as it rolled out a Jones Day legal team that includes Trump's former Solicitor General Noel Francisco.

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SEC Rejects Call To Halt Consolidated Audit Trail Spending

By Jessica Corso

The U.S. Securities and Exchange Commission has told Citadel Securities LLC that it will not act immediately to stop the operators of a market surveillance database from spending money collected under an old funding plan nixed by the Eleventh Circuit.

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Energy Startup Targets Binance, Banks In Loan Fraud Claims 

By Aaron Keller

Connecticut-based clean energy startup Palm Energy Systems LLC has filed a racketeering lawsuit against cryptocurrency exchange Binance Holdings Ltd., its once-imprisoned former CEO Changpeng Zhao and two banks, alleging they either enabled or failed to stop a cash and Bitcoin financing fraud scheme that drained $400,000 from its accounts.

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Shkreli Again Tries To Add Wu-Tang Members To Album Fight

By Sydney Price

"Pharma Bro" Martin Shkreli filed a third-party complaint against two members of hip-hop group Wu-Tang Clan, seeking once again to bring them into litigation brought by a cryptocurrency community that claims Shkreli improperly retained copies of a Wu-Tang album the community had bought the rights to.

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Fidelity National Investors Get Initial OK For $210M Deal

By Emilie Ruscoe

Investors in fintech Fidelity National Information Services have gotten an initial green light for their $210 million deal to settle allegations the company mischaracterized the business prospects of its multibillion-dollar acquisition of payment processor Worldpay.

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Deals Rumor Mill

Activists Elliott, Jana Make Latest Moves, And Other Rumors

By Al Barbarino

The past week may have been light on mega-merger rumors, but a slate of activist investor moves showed that the ingredients for future dealmaking may be quietly coming together.

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McDermott Adds Transmitter Licensing Atty To Crypto Team

By Andrea Keckley

McDermott Will & Schulte announced Wednesday that it has added a money transmitter licensing lawyer from Ketsal PLLC to its cryptocurrency team, which the firm calls "the industry's only crypto-exclusive team whose lawyers devote 100% of their practice to digital asset matters."

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Should Prediction Markets Allow Trading On Nonpublic Info?

Recent trading activity, such as the Polymarket wager on the U.S. capture of Venezuelan President Nicolás Maduro, has raised questions about whether some participants may be engaging in trading that is based on material nonpublic information, and highlights ongoing uncertainty about how existing derivatives and anti-fraud rules apply to event-based contracts, say economic consultants at the Brattle Group.

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Tips For Consumer Finance GCs Navigating AI In Pro Se Suits

There are several avenues for consumer finance in-house counsel to make artificial intelligence use disclosure requirements a standardized tool when facing pro se litigants, including preservation demands and discovery requests to ease friction and root out inaccurate legal representations, says Lee Barrett at Planet Home Lending.

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Series

Trivia Competition Makes Me A Better Lawyer

Playing trivia taught me to quickly absorb information and recognize when I've learned what I'm expected to know, training me in the crucial skills needed to be a good attorney, and reminding me to be gracious in defeat, says Jonah Knobler at Patterson Belknap.

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McGlinchey Stafford Files Ch. 7 With Over $10M In Liabilities

By Lauren Berg

New Orleans-based firm McGlinchey Stafford PLLC, which announced last month that it's winding down operations after more than half a century, filed for Chapter 7 bankruptcy with more than $10 million in liabilities owed to former staff and attorneys, workplace vendors, financial institutions and other creditors.

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Judge Nixes DOJ Fine In ICE Case, But Blasts 'Radio Silence'

By Hailey Konnath

A Minnesota federal judge said Friday that a U.S. Department of Justice attorney won't be fined after an immigrant's identification documents were finally returned to him, yet she tore into the DOJ's excuses and said she will "not tolerate what happened here: disobedience and radio silence from the government."

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Analysis

Deportation Policy Pushes Texas Federal Bench To The Brink

By Courtney Bublé

Texas has suffered through a shortage of judges for its federal courts for a while now, but the recent influx of immigration cases is pushing the system to the brink.

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Michigan Federal Judge Faces State's 'Super Drunk' Charge

By Bonnie Eslinger

A Michigan federal judge facing trial on drunken driving charges crashed his car on the night he was arrested, registered a 0.27% blood alcohol level and told a state trooper who asked him to recite the alphabet, "A, B, C, D, F, U," according to a police report recently made public.

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Boies Schiller Partner Faces Possible Sanctions For AI Errors

By Emily Sawicki

A Boies Schiller Flexner LLP partner must explain why he should not face monetary sanctions for filing a brief containing artificial intelligence-generated citation errors amid his representation of women who allege the Church of Scientology harassed them for reporting convicted actor Danny Masterson's sexual assaults.

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Epstein's Advisers Ink $35M Deal With Sex Trafficking Victims

By Katryna Perera

A class of victims of Jeffrey Epstein's sex trafficking scheme has asked a New York federal judge to grant the first OK in a settlement reached with Epstein's lawyer and accountant, who allegedly aided him in the scheme.

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Va. Judges Name New US Atty, But Blanche Says 'You're Fired'

By Lauren Berg

The federal judges in the Eastern District of Virginia on Friday unanimously appointed veteran litigator James W. Hundley to serve as interim U.S. attorney, a decision immediately met with derision from Deputy Attorney General Todd Blanche, who purported to fire Hundley in a social media post.

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Class Attys Allege Lead Counsel Is Hoarding $75M Sutter Fees

By Dorothy Atkins

Schneider Wallace Cottrell Kim LLP has urged a California federal magistrate judge to enforce the $75.4 million fee award in Sutter Health's $228.5 million deal resolving a decade-long antitrust fight, arguing lead counsel Constantine Cannon LLP "unilaterally" and "arbitrarily" cut SWCK's fees by nearly $800,000 while boosting its own.

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Beasley Allen Can't Pause NJ Talc DQ Order, Judge Rules

By George Woolston

The Beasley Allen Law Firm can't delay an order disqualifying it from representing hundreds of women who claim their ovarian cancer was caused by Johnson & Johnson's talcum powder while it seeks review from the New Jersey Supreme Court, a state judge ruled on Friday.

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Fake Attys, Judges, Hearings: DOJ Alleges Immigration Scam

By Hailey Konnath

A group of Colombian immigrants scammed clients out of $100,000 by pretending to be immigration lawyers at a fake firm and orchestrating phony hearings in which they pretended to be judges and federal agents, complete with fake judicial robes and uniforms, federal prosecutors in New York said Friday.

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6th Circ. Chief Judge To Take Senior Status

By Courtney Bublé

Chief Sixth Circuit Judge Jeffrey Sutton announced on Friday that he will take senior status on Oct. 1 after more than 20 years on the bench.

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Judiciary Preps Training On National Injunction Limits

By Courtney Bublé

Seven months after the budget reconciliation bill was enacted, the federal judiciary is making progress on the provisions to rein in what Republicans deem abuse of nationwide injunctions targeting the Trump administration's initiatives.

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Analysis

Valve's Anti-Troll Law Win Could Open New Doors

By Dani Kass

The first jury verdict in the U.S. finding a patent owner violated state law meant to curb bad faith patent suits had unique circumstances that will be hard to repeat, but attorneys say Tuesday's decision still has them considering the little-used laws more closely.

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Florida AG Defends $100K Teaching Side Gig Amid Scrutiny

By Jake Maher

Florida Attorney General James Uthmeier has been on defense amid scrutiny over a reported $100,000-per-year teaching gig at the University of Florida law school, just as he sought to roll out a new anti-corruption unit.

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Attys Regret Unnoticed ChatGPT Errors In Conn. Court Filings

By Tracey Read

Attorneys ordered to explain errors in two January Connecticut Supreme Court briefs said ChatGPT altered legal arguments that counsel did not notice when they asked the artificial intelligence software to help limit duplicate passages, meet word count rules and format the filings.

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Brief

2nd NJ Defendant Joins Bid To Disqualify US Atty Leadership

By Carla Baranauckas

A second defendant in a New Jersey federal criminal case on Friday joined a pending bid to disqualify the three assistant U.S. attorneys overseeing the U.S. Attorney's Office for the District of New Jersey, escalating a constitutional challenge to the office's leadership structure.

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Beltway Moves: Baker McKenzie, Armstrong & Bradylyons

By Alison Knezevich

The deputy assistant attorney general of the U.S. Department of Justice's Antitrust Division returned to Baker McKenzie, while two former DOJ fraud prosecutors launched a new white collar boutique, in some of the latest legal industry happenings in Washington, D.C.

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Roundup

UK Litigation Roundup: Here's What You Missed In London

By Max Austin

The last week in London saw the founders of Getir sue investment fund Mubadala for more than $700 million tied to alleged breaches during the company's restructuring, the Welsh Rugby Union face a claim by Swansea Council over a proposed takeover of Cardiff Rugby, and Euro Car Parks target the Competition and Markets Authority after it was fined by the watchdog. Here, Law360 looks at these and other new claims in the U.K.

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Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

Several pension funds in New York City sued AT&T, alleging the illegal exclusion of their shareholder proposal requesting a corporate diversity report from the telecom giant's corporate ballot. In the meantime, the DOJ said the Trump administration is investigating federal contractors and grant recipients for potentially engaging in discrimination, rather than for their DEI programs. These are among the stories in corporate legal news you may have missed in the past week.

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Law360's Legal Lions Of The Week

By Kevin Penton

Wigdor LLP and Elefterakis Elefterakis & Panek lead this week's edition of Law360 Legal Lions, after a New York federal judge denied the NFL's bid to force a class of National Football League coaches into arbitration.

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In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

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