SEC's Crypto Turn Could Undermine Staff, Dem Member Says

By Jessica Corso

The U.S. Securities and Exchange Commission's sole Democratic member has spoken out against its postelection retreat from prosecuting crypto cases, warning that recent actions like the voluntary dismissal of a lawsuit against Coinbase threaten to undermine the agency's enforcement staff.

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Interview

Time To Abolish IPO 'Bureaucracy,' Law Professor Says

By Tom Zanki

The U.S. Securities and Exchange Commission's long-established practice of vetting initial public offering filings through back-and-forth comment letters with companies — essentially a screening process intended to rectify faulty disclosures before public dissemination — is a bureaucratic relic that should be done away with, a law professor argues.

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SEC, Ex-Silvergate CFO Trade Shots Over Enforcement Case

By Hailey Konnath

The U.S. Securities and Exchange Commission on Friday urged a New York federal court not to throw out its claims that the former chief financial officer of defunct crypto-focused bank Silvergate Capital concealed the bank's rocky financial position, saying that the executive is mischaracterizing its claims.

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Del. Judge Orders Trial On AMC Stock Swap Coverage Fight

By Jeff Montgomery

A Delaware Superior Court judge ordered a jury trial Friday on an AMC Entertainment Holdings Inc. insurer's claim that it never consented to cover part of a $99.3 million settlement with theater chain stockholders who challenged a preferred share conversion and reverse stock split.

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Beyond Meat Fries Investors' Fast-Food Production Woes Suit

By Lauren Berg

A Los Angeles federal judge has tossed, for good, a reworked investor class action accusing Beyond Meat of concealing major problems with its efforts to scale production on plant-based meat substitutes for fast-food chains like McDonald's, KFC and Pizza Hut.

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Financial Adviser Denied Bond After Admitting $37M Tax Fraud

By Anna Scott Farrell

A Mississippi federal judge denied bond to a financial adviser who admitted promoting an illegal tax shelter involving royalty deductions that caused a $37 million tax loss, according to court documents.

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Brief

NY Man Found Guilty Of $7M Crypto Investment Scheme

By Elliot Weld

A New York man has been found guilty by a California federal jury of 14 counts related to allegations that he stole millions of dollars' worth of investment funds and moved them to sports betting sites located outside the U.S.

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Bioventus Hit With Del. Derivative Suit After NC Class Deal

By Jeff Montgomery

A Bioventus Inc. stockholder sued 15 current and former directors and officers of the medical device venture in Delaware's Court of Chancery to recover for the company tens of millions in losses tied to alleged mismanagement and corporate duty failures over a two year period.

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Aimmune Shareholders' $27.5M Deal Over Sale To Nestle OK'd

By Bonnie Eslinger

Aimmune Therapeutics Inc. stockholders won preliminary approval in California federal court on Friday for a $27.5 million settlement of their securities fraud class action alleging that Aimmune was falsely undervalued before its merger with Nestlé Health Science SA.

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Space Co. Lied About Rocket Launch Timeline, Investors Say

By Sydney Price

Aerospace company Rocket Lab USA Inc. has been hit with a proposed shareholder class action in California federal court alleging it intentionally concealed issues that would delay the test and commercial launches of a vehicle it developed.

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Carbon Project Investor C-Quest Hits Ch. 7

By Rick Archer

Carbon project developer C-Quest Capital has filed for Chapter 7 liquidation in a Delaware bankruptcy court as its ex-CEO faces charges he fraudulently obtained millions of dollars worth of carbon credits.

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Chancery Ruling Holds Authorized Share Takeaways For Cos.

The Delaware Chancery Court’s recent ruling in Salama v. Simon resolved statutory ambiguity in favor of boards seeking authorized share increases, and has important implications for litigators presenting extrinsic evidence in support of contract or statutory interpretation arguments, says Robin Wechkin at Sidley.

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Analysis

Presidents v. Courts: Lincoln, Trump & Judicial Power Limits

By Jeff Overley

Amid fears of President Donald Trump disobeying judges with impunity, debate has focused on famous instances of officials defying the U.S. Supreme Court. But some of the clearest insights into America's handling of White House disregard for courts exist in relatively obscure cases from the Civil War era, when unprecedented presidential actions provoked extraordinary responses from the judiciary — and underscored the limits of its powers.

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NYC Bar Slams Trump's Order On Covington Attys

By Emily Sawicki

The New York City Bar Association has joined the chorus of legal groups decrying President Donald Trump's order suspending security clearances held by Covington & Burling LLP attorneys representing former special counsel Jack Smith, calling it an "improper use of government power."

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Ex-Commerce Official To Chair Gibson Dunn Sanctions Group

By James Mills

Gibson Dunn & Crutcher LLP is creating a new sanctions and export enforcement practice group and bringing in a former U.S. Commerce Department official as a partner in its Washington, D.C. office to lead it.

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Ex-White House Cyber Pro Joins Sidley As DC Privacy Partner

By Tracey Read

The former chief of staff at the White House Office of the National Cyber Director has returned to the private sector as a Sidley Austin LLP privacy and cybersecurity practice partner in Washington, the firm said Thursday.

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WH Appeals After Watchdog Chief Is Permanently Reinstalled

By Ali Sullivan

A D.C. federal judge ruled Saturday that President Donald Trump's firing of the head of the Office of Special Counsel was illegal, finding that the federal employment watchdog can only be ousted for cause.

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Dems Claim DOJ Atty's 'Quid Pro Quo' Violated Ethics Rules

By Dorothy Atkins

Democratic Senate Judiciary Committee senior members lodged ethics complaints against acting Deputy Attorney General Emil Bove, accusing the recently appointed Bove of violating ethics rules by allegedly pushing prosecutors to drop criminal bribery charges against New York City Mayor Eric Adams in a "quid pro quo" deal with President Donald Trump.

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Group Blasts Judge's Call For Women In Contraception MDL

By Carolina Bolado

A judicial organization dedicated to fighting "leftist lawfare" filed a complaint Thursday against the Florida federal judge overseeing multidistrict litigation over the hormonal contraceptive drug Depo-Provera, claiming that her comments about women needing to be represented in the MDL leadership show an impermissible bias.

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Roc Nation Aims To Get Out Of Buzbee Conspiracy Suit

By Ryan Boysen

Shawn "Jay-Z" Carter's company Roc Nation has asked a Texas federal court to let it exit a lawsuit that claims Roc Nation conspired to "finance" malpractice suits against attorney Tony Buzbee in retaliation for an abortive lawsuit Buzbee filed accusing the rap star of rape.

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GOP Rep. Reintroduces The JUDGES Act

By Courtney Bublé

The chair of the House Judiciary Committee's courts panel has reintroduced a bill to create 66 new and temporary federal judgeships, which former President Joe Biden vetoed at the end of last year.

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Up Next At High Court: Gun Violence Liability & Nuclear Waste

By Katie Buehler

The U.S. Supreme Court will return to the bench Monday to consider Mexico's attempt to hold gun manufacturers and distributors liable for cartel-related gun violence and a nuclear waste site dispute that could determine who can challenge future agency actions.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

While many companies are removing diversity language from their public websites, a new survey shows that about half of its respondents do not plan on changing their DEI programs. And the general counsel for the new Tiger Woods/Rory McIlroy golf league talked about his love of the sport and the legal work involved in the new venture.

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

By Max Austin

This past week in London has seen the billionaire Zakay brothers, founders of Topland Group, become embroiled in a legal dispute with each other, Unilever sue three major perfume companies over alleged illegal price-fixing, and the publisher of Vogue magazine file an intellectual property suit against Cornucopia Events. Here, Law360 looks at these and other new claims in the U.K.

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Law360's Legal Lions Of The Week

By Kevin Penton

Holwell Shuster & Goldberg LLP and Kontnik Cohen LLC lead this week's edition of Law360 Legal Lions, after the U.S. Supreme Court held that cases dismissed voluntarily can later be eligible for special judicial relief and reopening, even if a statute of limitations would typically block the lawsuit.

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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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