2nd Circ. Says COVID Policy Saves Argentine Creditors' Case

By Jessica Corso

The Second Circuit on Monday revived a $5.5 million contractual dispute against Argentina, ruling that a New York state COVID-19 policy saved some bondholder claims from being time-barred.

Opinion attached | Read full article » | Save to favorites »

Musk's Team Warned 'WWIII' Over Twitter Deal, Atty Testifies

By Bonnie Eslinger

After Twitter sued Elon Musk for terminating his $44 billion deal to buy the social media platform, Musk's legal team said their client would launch "World War III" against the company's board if forced to go through with the transaction, a Wilson Sonsini lawyer who led the deal for Twitter told a California federal jury Monday.

Read full article » | Save to favorites »

Brookfield Strikes $83.75M TerraForm Merger Deal

By Jarek Rutz

A proposed $83.75 million settlement has been filed in the Delaware Chancery Court to resolve long-running shareholder litigation accusing Brookfield Asset Management of exploiting minority investors during its 2020 take-private merger with renewable energy company TerraForm Power Inc.

2 documents attached | Read full article » | Save to favorites »

Anthropic Sues Over Trump Admin's 'Campaign Of Retaliation'

By Madeline Lyskawa

Anthropic sued the Trump administration on Monday, challenging the Pentagon's designation of the artificial intelligence company as a supply chain risk to national security after Anthropic refused to allow its technology to be used for mass domestic surveillance and fully autonomous weapons. 

Complaint attached | Read full article » | Save to favorites »

Trump Media Investor's Venue Bid Rejected By Fla. High Court

By David Minsky

Florida's Supreme Court on Monday rejected a petition for review brought by an investor in President Donald Trump's Truth Social platform who challenged an order denying his motion to toss or transfer the company's lawsuit against him after he claimed it was filed in the wrong jurisdiction. 

Order attached | Read full article » | Save to favorites »

NY Judge Tosses Terror Victims' Binance Suit, For Now

By Sydney Price

A lawsuit against Binance and Changpeng Zhao, its former CEO, brought by the victims of 64 terrorist attacks was dismissed on Friday when a New York federal judge determined that the plaintiffs have not directly linked any wrongdoing by the cryptocurrency exchange to their injuries.

Order attached | Read full article » | Save to favorites »

Ohio Judge Won't Shield Kalshi's Sports Contracts

By Aislinn Keely

An Ohio federal judge declined to block Kalshi's sports event contracts from state gambling regulators' scrutiny in a Monday order that found the wagers don't appear to be swaps under the exclusive jurisdiction of the U.S. Commodity Futures Trading Commission.

Order attached | Read full article » | Save to favorites »

Bitcoin Classes Should Be Modified, Judge Says In Opinion

By Katryna Perera

A New York federal judge narrowed the class definitions in a suit accusing Tether and Bitfinex of rigging the cryptocurrency market and costing investors hundreds of billions of dollars, after finding that there is no "clear-cut" injury for some investors. 

Opinion attached | Read full article » | Save to favorites »

Steve Aoki, DraftKings Founder Seek Exit From NFT Fraud Suit

By David Minsky

DraftKings co-founder Matthew Kalish and electronic music artist Steve Aoki told a Florida federal court Friday that a proposed class action accusing them of promoting "worthless" nonfungible tokens without disclosing they were getting paid for it does not allege any wrongdoing, and asked the court to toss the suit.

Motion attached | Read full article » | Save to favorites »

Pump.Fun Seeks Dismissal Of Meme Coin Buyers' Suit

By Katryna Perera

Meme coin launchpad Pump.fun, its officers and related blockchain projects asked a New York federal judge to dismiss users' latest complaint, which added racketeering allegations and accused the defendants of operating an illegal digital casino, arguing it fails to establish jurisdiction or demonstrate the tokens at issue are securities.

3 documents attached | Read full article » | Save to favorites »

Receiver Enters Conspiracy Plea For Par Funding's Parent Co.

By Matthew Santoni

The receiver for a Philadelphia company behind the $405 million Par Funding merchant cash advance Ponzi scheme reached a plea deal Monday, where the company pled guilty to conspiracy to commit wire fraud and securities fraud, prosecutors said.

1 document attached | Read full article » | Save to favorites »

Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court's docket last week featured disputes spanning alleged forged board approvals at a telecom startup, evidence-destruction claims tied to WWE's blockbuster merger with UFC and investor scrutiny of a multibillion-dollar deal between Intel and the U.S. government.

Read full article » | Save to favorites »

Edison Dodges Investors' Wildfire Mitigation Suit, For Now

By Lauren Berg

A California federal judge tossed a proposed class action alleging the parent company of Southern California Edison misled investors about the effectiveness of the public utility company's wildfire-mitigation measures in the lead-up to last January's devastating fires north of Los Angeles, but allowed investors to rework part of the suit.

2 documents attached | Read full article » | Save to favorites »

Biopharma Brass Hid Drug Trial Risks, Derivative Suit Says

By Emilie Ruscoe

Brass of Ultragenyx Pharmaceutical Inc. are facing shareholder derivative claims they caused the company to overstate prospects for a drug to treat a bone disease, hurting investors and opening the company up to liability when its share prices fell following disappointing clinical trial news.

Complaint attached | Read full article » | Save to favorites »

Paul Hastings Adds A&O Shearman Securities Litigator Duo

By Tracey Read

Paul Hastings LLP announced Monday that it has hired two San Francisco-based securities litigation attorneys from Allen Overy Shearman Sterling as partners, including A&O Shearman's former managing partner of the California offices.

Read full article » | Save to favorites »

Assessing Ruling On SEC Industry Bars In Post-Jarkesy World

According to a D.C. federal court in Sztrom v. U.S. Securities and Exchange Commission, the U.S. Supreme Court's 2024 decision in SEC v. Jarkesy did not eliminate the commission's ability to pursue industry bars through administrative follow-on proceedings, a major blow for future Article 3 challenges — so long as it stands, say attorneys at Venable.

Memorandum attached | Read full article » | Save to favorites »

How The New Tariff Landscape May Unfold

To replace tariffs formerly imposed under the International Emergency Economic Powers Act, the administration will rely on a patchwork of statutes, potentially leading to procedural challenges and a complex tariff landscape with varying levels, durations and applicability, says Joseph Grossman-Trawick at King & Spalding.

Read full article » | Save to favorites »

Kavanaugh, Jackson Debate High Court Emergency Orders

By Katie Buehler

U.S. Supreme Court Justice Brett Kavanaugh pushed back Monday against critiques that the high court is ruling in favor of President Donald Trump in emergency appeals more often than it did for prior presidents, saying people who believe those allegations have "short" memories. 

Read full article » | Save to favorites »

Ex-DLA Piper Atty Alleging Rape Can't Remain Anonymous

By Lauren Berg

A former Boston-based DLA Piper associate cannot use a pseudonym to pursue a lawsuit alleging she was raped by one of the firm's former partners, a Massachusetts judge ruled, noting that she already publicly revealed her identity in a related suit against the accused attorney.

Order attached | Read full article » | Save to favorites »

Employment Law Cases Have Rebounded Except For FLSA

By Max Kutner

Employment law cases overall have bounced back from pandemic-era lows, especially discrimination and disability accommodation suits, though a slump has continued for Fair Labor Standards Act claims, according to a report by legal analytics provider Lex Machina.

Read full article » | Save to favorites »

NJ US Atty Trio Booted In 2nd Leadership Ouster

By George Woolston

A federal judge on Monday disqualified the three assistant attorneys overseeing the U.S. Attorney's Office for the District of New Jersey, finding the "byzantine" leadership structure is unconstitutional.

Opinion attached | Read full article » | Save to favorites »

Brief

SCOTUSblog Founder Goldstein To Be Sentenced In June

By Emily Sawicki

SCOTUSblog founder Thomas Goldstein, currently under home confinement in Washington, D.C., after a Maryland jury convicted him on tax evasion and mortgage fraud charges, will face sentencing in June.

Order attached | Read full article » | Save to favorites »

McGuireWoods Beats Sun Pharma's DQ Bid In NJ Suit

By George Woolston

A New Jersey federal court has denied Sun Pharmaceutical's bid to disqualify McGuireWoods LLP from representing pharmaceutical company Biofrontera in litigation over the alleged breach of a settlement agreement, ruling the firm's continued representation won't harm Sun Pharmaceutical and will avoid significant harm to Biofrontera.

Opinion attached | Read full article » | Save to favorites »

Lewis Brisbois Renews Bid To Force Paralegal To Arbitrate

By Adrian Cruz

Lewis Brisbois Bisgaard & Smith LLP asked a Florida state judge on Friday to have a former paralegal arbitrate her defamation claims that its actions tarnished her reputation and cost her a job at another firm.

Motion attached | Read full article » | Save to favorites »

K&L Gates IP Atty Tapped For Wash. Supreme Court Seat

By Rachel Riley

A K&L Gates intellectual property litigator will become the Washington State Supreme Court's first justice of Middle Eastern descent, Washington Gov. Bob Ferguson said Monday, announcing his pick to replace veteran retiring Justice Barbara Madsen.

Read full article » | Save to favorites »