Justices' Slack Ruling 'Forecloses' Palantir Shareholder Suit

By Jessica Corso

Palantir Technologies Inc. has escaped a proposed class action accusing it of deceiving investors about its growth potential, with a Colorado federal judge ruling that his hands were tied by a recent U.S. Supreme Court ruling that "likely foreclosures" certain shareholder lawsuits against companies that go public via a direct listing.

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Vice Chancellor Warns Plaintiff Over AI-Generated Filings

By Katryna Perera

A Delaware vice chancellor has threatened a plaintiff with sanctions in an appraisal action for allegedly using a "hallucinating" generative artificial intelligence program to prepare his motions and has ordered the plaintiff to disclose his use of AI in court filings moving forward.  

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Chancellor Asks About High Court Case In $2.1B SPAC Row

By Jeff Montgomery

A Delaware vice chancellor wondered Monday why neither side of a derivative suit over the $3 billion take-public merger of battery maker Microvast Holdings Inc. spoke about a recent state supreme court case relevant to the dispute.

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SolarEdge Gets Securities Suit Trimmed Further

By Katryna Perera

A New York federal judge further trimmed a securities class action accusing SolarEdge Technologies Inc. of misrepresenting the demand for its solar energy products in Europe, tossing claims tied to so-called sell-through forecasts and claims of knowledge of wrongdoing by SolarEdge's top brass, but gave investors the chance to file a third amended complaint.

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Brief

SEC Drops Suit Against Silver Point Over Atty Info Access

By Brian Steele

The U.S. Securities and Exchange Commission has dropped a Connecticut federal lawsuit alleging Silver Point Capital LP failed to establish policies to safeguard material nonpublic information, particularly from a former BigLaw attorney who acted as outside counsel, according to federal court records.

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SEC Orders Crypto Guidance Review As Deregulation Looms

By Aislinn Keely

Acting Chair of the U.S. Securities and Exchange Commission Mark Uyeda ordered a review of a number of staff statements on digital assets, to potentially change or withdraw them in light of the White House's policy directive on deregulation and recommendations from the Department of Government Efficiency.

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OMB Issues Guidance On Agency Use, Purchasing Of AI

By Madeline Lyskawa

The Office of Management and Budget issued a pair of memorandums last week that replaced the Biden administration's safeguards on the federal acquisition of artificial intelligence with a policy aimed at accelerating federal agencies' use and procurement of artificial intelligence.

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Coinbase Accused Of Scam Prevention Shortfalls

By Corey Rothauser

A California man has filed a proposed class action seeking to hold cryptocurrency exchange Coinbase liable for failing to implement safeguards against fraudsters who run "pig-butchering" scams.

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Chemours Co. Hit With Insider Derivative Suit In Del.

By Jeff Montgomery

Attorneys for a Chemours Co. stockholder have docketed a sealed derivative suit in Delaware's Court of Chancery, seeking damages on the company's behalf from 13 current or former directors and officers, alleging breaches of fiduciary duty and unjust enrichment in connection with alleged manipulation of financial disclosures.

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Starbucks Asks To Dump Investors' 'Triple Shot' Strategy Suit

By Lauren Berg

Starbucks has urged a Seattle federal judge to toss a consolidated proposed class action alleging that the coffee chain made overly positive projections for its "Triple Shot Reinvention" strategy that hurt investors when the financial results didn't bear out the company's optimism, saying the plaintiffs haven't shown that Starbucks made any false statements.

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Pot Co. Lied About Prerolled Joint Costs, Investor Claims

By Mike Curley

An investor in cannabis company Canopy Growth Corp. is suing in New York federal court, alleging that the company misled him and other investors about the costs of a prerolled joint product and vape devices, leading to a 27% stock drop when the truth came out.

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Split Fraud Verdict For Calif. Man Behind Celeb Brand App

By Elliot Weld

A Los Angeles federal jury has returned a mixed verdict against a Malibu man charged with defrauding investors in an app intended to help public figures monetize their brand endorsements.

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Nelson Mullins Team Joins Duane Morris In DC, Atlanta, Miami

By James Mills

Duane Morris LLP announced Monday that it is expanding its corporate practice by bringing in a team of five Nelson Mullins Riley & Scarborough LLP transactional attorneys — including two partners — in its Washington, D.C., Atlanta and Miami locations.

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Opinion

GENIUS Act Can Bring Harmony To Crypto-Banking Discord

​​​​​​​By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.

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A Closer Look At New NYSE, Nasdaq Listing Rule Changes

The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.

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Series

Law School's Missed Lessons: Be An Indispensable Associate

While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.

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Litigation Firms Back Perkins Coie In Suit Over Trump Order

By Jake Maher

A slew of midsize and small litigation firms took up Perkins Coie LLP's cause in its legal battle against an executive order from President Donald Trump targeting the BigLaw firm, arguing Monday in an amicus brief that the order is "anathema" to the justice system.

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Congressional Dems Probe Trump's Actions Against BigLaw

By Courtney Bublé

A pair of top congressional Democrats wrote to the White House and six major law firms over the weekend seeking more information about deals that multiple BigLaw firms have reached with the Trump administration and the possible fallout.

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Brown Rudnick Inks $8M Deal With Guo Ch. 11 Trustee

By Alex Wittenberg

Brown Rudnick LLP has agreed to pay nearly $8 million in a deal with the trustee overseeing Chinese exile Miles Guo's Chapter 11 case in Connecticut to settle potential claims tied to the law firm's onetime work for the convicted fraudster.

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Holland & Knight Lands 8-Atty Seward & Kissel Maritime Team

By Rose Krebs

Holland & Knight LLP announced Monday that it has added an eight-person team from Seward & Kissel LLP to bolster its asset finance group and enhance its efforts to steer clients through key shipping financing and maritime issues.

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Justices Remove Bar On Venezuelan Removals

By Katie Buehler

The U.S. Supreme Court on Monday ruled the Trump administration can move forward with its removal of alleged Venezuelan gang members from the United States under the Alien Enemies Act, vacating a D.C. federal judge's order that had temporarily blocked President Donald Trump's invocation of the 1798 wartime law.

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Full DC Circ. Lifts Pause On NLRB, MSPB Reinstatements

By Tim Ryan

The full D.C. Circuit on Monday lifted a March panel decision pausing the reinstatement of National Labor Relations Board and Merit Systems Protection Board members that President Donald Trump fired, saying U.S. Supreme Court precedent blessing limitations on the president's ability to fire agency officials still stands.

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Justice Roberts Pauses Return Order In Deportation Case

By Katie Buehler

Chief Justice John Roberts hit pause Monday on a federal judge's order requiring the Trump administration to quickly bring back a Maryland man who was mistakingly deported to El Salvador and imprisoned there, freeing the administration from a late night compliance deadline.

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Judge Who Shot Wife Warned Against Retrial 'Press Tour'

By Gina Kim

The California judge presiding over the murder trial of an Orange County jurist who fatally shot his wife admonished him Monday for embarking on a recent "press tour," warning that he could be violating the state judicial ethics code by commenting on a pending case. 

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Littler Wants Out Of Fired Tech Exec's Bias Suit

By Grace Elletson

Littler Mendelson has asked to be cut loose from a former tech company executive's suit claiming the firm and the business worked together to retaliate against her for complaining that her boss made bigoted comments, arguing to a New York federal court that it can't be held liable for the legal advice it provided.

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