Securities

February 06, 2025
Nixon Peabody Adds Greenberg Glusker Cannabis Co-Chair

Nixon Peabody LLP is boosting its West Coast litigation team, bringing in a former federal prosecutor, who was most recently the founder and co-chair of the cannabis practice at Greenberg Glusker LLP, as a partner in its Los Angeles office.
February 06, 2025
Bondi Says FCPA Probes Will Focus On Cartels

The scope of foreign bribery enforcement will be narrowed significantly under the direction of U.S. Attorney General Pam Bondi, who has said since taking office Wednesday that the Justice Department will concentrate on the "total elimination of cartels and transnational organizations."
February 06, 2025
Appellate Group Of The Year: Gibson Dunn

Gibson Dunn & Crutcher LLP notched critical wins as the U.S. Supreme Court rejected an Eighth Amendment challenge to a city's public camping law and gave insurers a voice in mass tort bankruptcies, making it one of the 2024 Law360 Appellate Groups of the Year.
February 06, 2025
Family Says Tax Shelter Creator To Blame In $81M IRS Case

Counsel for members of a wealthy extended family accused of shorting the IRS nearly $81 million by knowingly participating in an unlawful tax shelter told a Manhattan federal judge Thursday that the creator of the so-called Son-of-Boss scheme is to blame.
February 06, 2025
Trump's Federal Worker Buyout Plan Put On Hold

A Massachusetts federal judge on Thursday put on hold the Trump administration's "deferred resignation" program for federal employees, delaying the deadline for workers to accept the offer until Monday while the court weighs the legality of the move.
February 06, 2025
CFTC Signals Openness To Regulate Sports Event Contracts

The U.S. Commodity Futures Trading Commission announced a public roundtable to discuss its regulation of contracts tied to high-profile sporting events Wednesday, with the acting chair bemoaning the commission's current policy as a "sinkhole of legal uncertainty."
February 05, 2025
FDIC Letters Show It Met Crypto With 'Resistance,' Hill Says

The Federal Deposit Insurance Corp.'s acting Chairman Travis Hill said Wednesday that he has jump-started a "comprehensive review" of the regulator's past crypto-focused communications with supervised banks, releasing a trove of documents he said shows that many banks abandoned their cryptocurrency plans after the FDIC met them with "resistance."
February 05, 2025
Blue Ridge Bankshares, Investors Reach $2.5M Deal

Blue Ridge Bankshares Inc. and a proposed class of investors have reached a $2.5 million settlement to resolve claims that the multi-state bank holding company engaged in improper loan accounting practices.
February 05, 2025
Paramount-Skydance Merger Block Sought Pending Del. Suit

Five Paramount Global pension fund stockholders sought a preliminary injunction in Delaware late Wednesday seeking to block closing on the estimated $8 billion Paramount-Skydance Media merger pending a decision on a still-sealed Court of Chancery breach of fiduciary duty suit filed Tueday night.
February 05, 2025
Catholic Investors Bring Smith & Wesson Suit To Fed. Court

A group of Catholic sisters has refiled in federal court their suit accusing Smith & Wesson's directors and senior executives of placing their own "greed" and "political concerns" above the interests of the company and its stockholders by ignoring the liabilities of marketing AR-15 rifles that are used to perpetrate mass shootings.
February 05, 2025
Schwab To Add Oversight To End TD Ameritrade Buy Suit

The Charles Schwab Corp. has agreed to implement an antitrust compliance program designed by an independent consultant in order to settle claims from a proposed class of retail investors who alleged they were forced to pay increased transaction costs for trades following the Schwab-TD Ameritrade merger in 2020.
February 05, 2025
EmpiresX Crypto Platform Operators Ordered To Pay $129M

A Florida federal court has entered a default judgment against two Brazilian co-founders and the head trader of the EmpiresX trading platform, ordering them to pay more than $129 million for allegedly taking investor funds in a fraudulent commodity pool scheme and lying that their money wasn't used to trade cryptocurrencies.
February 05, 2025
Wachtell, Skadden Guide Becton's Bid To Sell Diagnostics Biz

Becton Dickinson and Co. has agreed to divest its biosciences and diagnostics unit in order to focus more resources on medical technology and maximize shareholder value, the company said on Wednesday.
February 05, 2025
Judge Won't Pause Crowdfunding Case After Fraud Indictment

A target of the U.S. Securities and Exchange Commission's first crowdfunding enforcement action can't pause that three-year-old case to defend himself against unrelated charges that he ran a pump-and-dump scheme with a hallucinogenic mushroom company, a Michigan judge ruled Wednesday.
February 05, 2025
Monolithic's Investors Say Co. Botched Nvidia Orders

Power management component manufacturer Monolithic Power Systems Inc. has been hit with a proposed shareholder class action alleging it hid critical defects in power modules used by its largest customer, Nvidia Corp., that led the artificial intelligence chipmaker to cancel orders, harming Monolithic's revenue.
February 05, 2025
Crypto Expert Witness Ruling Flouts Precedent, Justices Told

The founder of cryptocurrency service Tornado Cash has asked the U.S. Supreme Court to undo what he called an "unprecedented" order from a Manhattan federal judge to disclose whom he might call as an expert witness at his upcoming money laundering and sanctions-dodging trial.
February 05, 2025
Judge Found 'Vertical' Mattress Deal Won't Hurt Competition

U.S. District Judge Charles Eskridge rejected the Federal Trade Commission's bid to pause Tempur Sealy's planned $5 billion purchase of Mattress Firm after finding a merger of the mattress supplier and retail chain would likely increase competition, if it has any impact at all.
February 05, 2025
NJ Fraud Defendant Loses Bid To Toss 'Vindictive' Charges

A New Jersey federal judge has rejected a bid by convicted fraudster Eliyahu Weinstein — who was later pardoned, and then charged again — to toss seven counts of a 17-count indictment on money laundering and other charges, reasoning that he and a co-defendant didn't show the new counts amounted to vindictive prosecution.
February 05, 2025
Del. Justices Undo Insurance Cap Ruling In Alexion Suit

Delaware's top court has reversed a Superior Court ruling that upheld Alexion Pharmaceuticals' claim to coverage under a $105 million "tower" of insurance for potential stockholder claims in a suit accusing the company of propping up share prices with misleading information.
February 05, 2025
CVS Beats 2nd Investor Suit Over Omnicare Deal

A Rhode Island federal judge on Wednesday dismissed a second investor suit against CVS over its Omnicare acquisition in light of a 2022 First Circuit decision in a similar suit, saying the current action should be tossed because it suffers the same pleading fatalities as the case that went before the appeals court.
February 05, 2025
Chancery Tosses Challenge To $1.1B Smart & Final Sale

Writing that nothing in a "grab bag" of stockholder claims amounted to disclosure failures, Delaware's chancellor dismissed a suit challenging the $1.1 billion April 2019 sale of Smart & Final Stores Inc. — formerly controlled by funds of Ares Management Corp. — to interests of Apollo Global Management.
February 05, 2025
SEC Moves Under Trump Risk 'Chilling' Staff, Grewal Says

The reported scaling-back of the U.S. Securities and Exchange Commission's crypto enforcement unit by the new Republican SEC majority could make staff at the agency more fearful of doing their jobs and put investors in jeopardy, former SEC enforcement director Gurbir Grewal said Wednesday.
February 05, 2025
Latham Adds Ex-SEC Pro, GC To NY Roster

The former acting director of the U.S. Securities and Exchange Commission's enforcement arm and a private capital specialist with in-house and private practice experience have come aboard Latham & Watkins LLP, the firm announced Wednesday, marking the latest in a flurry of lateral hires entering Latham's New York office since fall 2024.
February 05, 2025
Paxos' Top Atty Takes CLO Spot At Crypto Co. Kraken

Cryptocurrency exchange Kraken has tapped the general counsel at crypto trust company Paxos to serve as its new chief legal officer.
February 04, 2025
Wheeling & Appealing: The Latest Must-Know Appellate Action

February is off to a rip-roaring start in several circuits, and there's plenty more action ahead, including a moment of truth for judiciary policymaking that has managed to anger both the defense and plaintiffs bars. We'll explore all that in this edition of Wheeling & Appealing, which also includes an appellate quiz pegged to recent presidential news.

Expert Analysis

Exploring Venue Strategy For Trump-Era Regulatory Litigation

Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
What 2024's Noncompete Turmoil Means For Banks In 2025

A look back at the most significant legal challenges to the enforceability of various restrictive covenants like noncompete and nonsolicitation agreements in 2024 can help financial institutions address the use of these critical tools this year, say attorneys at Maynard Nexsen.
Opinion

3 New Year's Resolutions For Antitrust Agencies To Consider

James Fredricks at Skadden rings in 2025 with his wish list for the federal antitrust agencies, starting with a provision for a presumptive safe harbor for information sharing.
New Year, New Risks: 8 Top Cyber Issues For Finance In 2025

As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.
FTC Focus: A Changing Of The Guard

While rigorous antitrust enforcement is unlikely to slow down at the Federal Trade Commission, the focus will undoubtedly change, including when it comes to Big Tech, as Andrew Ferguson prepares to take the reins from Chair Lina Khan, say attorneys at Proskauer.
5th Circ.'s Nasdaq Ruling Another Piece In DEI Policy Puzzle

The Fifth Circuit's recent en banc opinion vacating Nasdaq's board diversity listing rule wades into the hotly debated topic of diversity, equity and inclusion initiatives at a time when many public companies are navigating the attention that DEI commitments are drawing from activists and shareholders, say attorneys at Debevoise.
8 Trends And Predictions Following PE's Late 2024 Surge

Private equity will remain at the forefront of value creation in 2025, and anticipated market trends include sponsors' desire to return capital to investors and a more business-friendly tack by the Antitrust Division of the U.S. Department of Justice, say attorneys at Weil.
Series

Playing Esports Makes Me A Better Lawyer

Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
Lessons From The SEC's 2024 Crackdown On AI Washing

AI washing was the subject of increased scrutiny from the U.S. Securities and Exchange Commission in 2024 following a surge in the commercial adoption of generative artificial intelligence technologies in 2023, highlighting the importance of transparency, accuracy and accountability when communicating about AI, say attorneys at Perkins Coie.
The 6 Most Significant FCRA Litigation Developments Of 2024

From a key sovereign immunity decision at the U.S. Supreme Court to a ruling on creditworthiness out of the Seventh Circuit, several important Fair Credit Reporting Act cases wound their way through the courts in 2024, each offering takeaways for both plaintiffs and defendants, say attorneys at Shipkevich.
An Associate's Guide To Career Development In 2025

As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
The Securities Litigation Trends That Will Matter Most In 2025

2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.
Predicting The Lasting Changes CFPB May Face In 2025

President-elect Donald Trump and the incoming Republican-controlled Congress' likely attempts to reshape the Consumer Financial Protection Bureau could significantly alter its rulemaking, supervisory and enforcement abilities for years to come, says Jim Sandy at McGlinchey Stafford.
What To Watch For In The 2025 Benefits Landscape

While planning for 2025, retirement plan sponsors and service providers should set their focus on phased implementation deadlines under both Secure 1.0 and 2.0, an upcoming U.S. Supreme Court ruling, and the fate of several U.S. Department of Labor regulations, says Allie Itami at Lathrop GPM.
How White Collar Enforcement May Shift In Trump's 2nd Term

After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.