Securities

  • September 22, 2026

    Estee Lauder Hit With Derivative Suit Over Gray Market Sales

    Estée Lauder Inc. was hit with a shareholder derivative suit in New York federal court Tuesday alleging the cosmetic giant's directors repeatedly touted expectations for sales growth in its Asia travel retail segment, while hiding its over-reliance on prohibited, duty-free "gray market" sales of products in China.

  • September 22, 2026

    CFTC Warns Prediction Platforms Of 'Mention Market' Risks

    The U.S. Commodity Futures Trading Commission on Tuesday warned prediction market operators that offering wagers on whether a person will say certain words, interact with someone or attend an event comes with heightened manipulation risks that platforms must address before listing.

  • September 22, 2026

    SEC E-Delivery Plan Draws Access Concerns, Enviro Praise

    State regulators, labor unions and at least one member of Congress are among those urging the U.S. Securities and Exchange Commission to rethink a proposal that would allow issuers and market intermediaries to default to electronic delivery of investor documents, while Wall Street groups and environmental advocates praised the measure.

  • September 22, 2026

    SEC Says Mobile Home Investment Scheme Was $10M Fraud

    The U.S. Securities and Exchange Commission announced that it has settled claims against a Texas-based limited liability company and its owner accused of fraudulently raising $9.6 million from nearly 100 investors with false promises of returns on investments in mobile home construction.

  • September 22, 2026

    NY Brokerage Must Pay $1.6M In FINRA Supervision Action

    American Portfolios Financial Services Inc., which is now part of Osaic Wealth Inc., will pay more than $1.6 million in combined restitution and fines to settle claims that its representatives' recommendations caused customers to overpay for fees on certain securities.

  • September 22, 2026

    SF Sues To Block Early Access To Trump's Truth Social Posts

    San Francisco's city attorney and others sued President Donald Trump's social media platform Truth Social in California state court Monday, asking a judge to block its "unprecedented" scheme that grants customers who pay $100,000 per month early access to the president's and other high-level officials' social media posts.

  • September 22, 2026

    Alphabet's Bid To Pare Ad Tech Suit Stalls Over Discovery

    A California federal judge rejected Alphabet's bid for partial summary judgment, saying the Google parent must first comply with a class of investors' discovery requests prompted by the company's motion in litigation claiming CEO Sundar Pichai made a false statement to Congress about whether the company's ad auctions favor Facebook.

  • September 22, 2026

    UiPath Execs, Investor Clash Over Bid To Ax Derivative Suit

    UiPath Inc.'s directors and executives urged the Delaware Chancery Court on Tuesday to throw out a shareholder derivative suit accusing them of misleading investors and trading on inside information, while shareholder Scott Rudolph argued the board was too conflicted to fairly decide whether the company should pursue the claims itself.

  • September 22, 2026

    Coinbase Halts Mich. Sports Offerings Amid Litigation

    Coinbase has agreed to pull its sports event contracts from Michigan while the Sixth Circuit untangles a web of litigation over the legality of prediction market platform sports offerings across two other states.

  • September 21, 2026

    Crypto Co. Investor's 'Puzzle Pleading' Dooms Revenue Suit

    A Georgia federal judge has dismissed with prejudice a proposed class action alleging cryptocurrency technology company Bakkt Holdings Inc. and its executives misrepresented the stability of the company's crypto services revenue after it acquired a crypto platform, finding the complaint contains "puzzle pleading."

  • September 21, 2026

    Starbucks Investors Allege $227.5M In Buyback Losses

    Two Starbucks shareholders have brought a derivative suit in Washington federal court accusing the company's leadership of hyping its performance in the U.S. and China even as sales declined, and of losing $227.5 million buying back its own stock at inflated prices. 

  • September 21, 2026

    TelexFree Investors' 2nd Bid For Cert. Called Futile

    A Massachusetts federal judge has once again rebuffed an attempt to certify a class of investors who say they lost money in the massive TelexFree Ponzi scheme, calling their second bite at the apple futile.

  • September 21, 2026

    Meta Trims But Can't End Cybersecurity Pro's Retaliation Suit

    The former head of cybersecurity at messaging platform WhatsApp can pursue some, but not all, of his whistleblower retaliation suit against Meta Platforms, a California federal judge has ruled, saying the complaint plausibly alleges protected activity regarding his reports that claim Meta violated U.S. Securities and Exchange Commission rules.

  • September 21, 2026

    Ex-PetIQ CEO's Brother Admits To Illicit Trades Over Deal Info

    An Idaho man pled guilty Monday in federal court to trading on confidential information he received from his brother, the former CEO of PetIQ, about the company's acquisition by Bansk Group in August 2024.

  • September 21, 2026

    Endeavor, Silver Lake Sue To Block Appraisal Claims

    Endeavor Group Holdings Inc. and Silver Lake Technology Management LLC on Monday sued dozens of hedge funds and other investors in Delaware Chancery Court, seeking to block them from pursuing appraisal claims over Silver Lake's $27.50 per-share buyout of Endeavor and alleging that many bought shares only after the deal was announced to profit from litigation.

  • September 21, 2026

    Ex-Bank CEO Gets 9 Years For Fraud, Sanctions Evasion

    The former CEO of the Puerto Rico-based Nodus International Bank was sentenced to nine years in prison after pleading guilty to running a scheme that stole more than $13.6 million from the now-collapsed bank and evading sanctions on Venezuela.

  • September 21, 2026

    FTX Trust Says SkyBridge Can't Collect $53M In Ch. 11 Claims

    FTX's liquidating trust is asking a Delaware bankruptcy judge to reject $53 million in claims from firms affiliated with a former Trump administration official, saying the companies came out ahead of deals at issue in the case.

  • September 21, 2026

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court this past week dismissed a challenge to Alteryx Inc.'s $4.4 billion take-private sale, resolved a fight over the removal of a security technology company's director and declined to let Empery Digital Inc. immediately appeal a proxy contest ruling.

  • September 21, 2026

    Ready Capital Beats Investor Suit Over Real Estate Loan Woes

    A New York federal judge has tossed, with prejudice, a consolidated class action against real estate finance company Ready Capital Corp., finding that the suit "comes dangerously close to 'puzzle pleading'" and that there is no evidence the defendants committed fraud prior to revealing struggles in its commercial real estate loan portfolio.

  • September 21, 2026

    Regeneron Investors Can't Use FCA Action To Support Suit

    Regeneron Pharmaceuticals Inc. and its executives have beaten a proposed class action accusing them of misleading investors about the company's revenue prospects for its vision loss drug and inflating reimbursements, with a judge ruling that the suit does not use the U.S. Department of Justice's False Claims Act suit against the company to plead share losses.

  • September 21, 2026

    SEC Prepares To Relax Fund Cross-Trading Limits

    The U.S. Securities and Exchange Commission has informed the White House that it plans to propose a regulation that could loosen the rules around cross-trading prohibitions, potentially allowing more securities to be traded between funds overseen by the same adviser.

  • September 21, 2026

    V&E Adds Finance Duo In NY From Latham

    Vinson & Elkins LLP announced on Monday that the firm had added two New York-based structured finance partners from Latham & Watkins LLP, with one of the hires joining as head of the firm's structured finance and securitization practice.

  • September 21, 2026

    Crypto Firm, Ga. Investor Reach Deal To End Fraud Suit

    An investor has agreed to end her lawsuit accusing a Texas-based crypto investment company of letting her funds get caught up in a fraudulent scheme to funnel money to foreign countries, according to a filing in Georgia federal court.

  • September 18, 2026

    Ex-Vitol Oil Trader Gets 4 Years For Bribe Schemes

    A former Vitol oil trader was sentenced to four years in prison by a New York federal judge on Friday after being convicted of schemes to bribe Mexican and Ecuadorian officials in violation of the Foreign Corrupt Practices Act and anti-money laundering laws, the U.S. Department of Justice said.

  • September 18, 2026

    Fed 'Risk Aversion' Contributed To SVB's Failure, Report Says

    A "culture of risk aversion" and diffusion of decision-making among Federal Reserve supervisory staff, not deregulation or social media chatter, contributed to the 2023 collapse of Silicon Valley Bank, according to initial findings from a new post-mortem review.

Expert Analysis

  • CFTC Policy Substantially Expands Self-Reporting Incentives

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    A recent U.S. Commodity Futures Trading Commission policy moves from a mitigation-centered model to prioritizing declination for early self-reporting and full cooperation, reflecting a deliberate effort to harmonize voluntary self-disclosure incentives across the federal enforcement authorities, say attorneys at Sullivan & Cromwell.

  • Opinion

    Exxon Shareholders Were Right To Save New Voting Program

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    Following Exxon shareholders’ recent vote that rejected a bid to dismantle the company’s new retail voting program, other companies should replicate it as a way to lower the friction for shareholders who already vote with the board to keep doing so without wrestling a ballot every spring, says J.W. Verret at the Antonin Scalia Law School.

  • Series

    Choral Singing Makes Me A Better Lawyer

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    Singing in the New York City Bar Chorus — a hobby partly inspired by the late U.S. District Judge Richard Owen, who infused my clerkship year with opera music — has improved my legal career by refining my abilities to listen, exude confidence and develop emotional intelligence, says Bonnie Baker at Friedman Kaplan.

  • What Ratings Overhaul May Mean For Banking Industry

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    Proposed revisions to the bank rating system commonly known as CAMELS could constrain examiner discretion and tie supervisory outcomes more closely to measurable financial risk, potentially saving compliance costs, reducing the frequency of ratings downgrades and spurring a more growth-oriented banking system, say attorneys at Debevoise.

  • Attorney Mental Health Is An Ethical Obligation In The AI Era

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    As attorneys cope with the increasing unpredictability that artificial intelligence and constant policy changes have created, particularly in practice areas where they carry the emotional weight of clients’ most consequential life events, otherwise soft discussions about self-care are a matter of professional competence, says attorney Jack Jrada.

  • Tariff Refunds May Reshape Loan Covenant Calculations

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    Tariff refunds issued after the U.S. Supreme Court's Learning Resources decision may complicate borrowers' covenant calculations depending on accounting treatment, the timing of recognition, customer reimbursement obligations and credit agreement language, say attorneys at Mayer Brown.

  • Agentic AI And Securities Law: Evolving Risk Disclosures

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    The U.S. disclosure regime is built on the premise that management can describe the material facts and risks facing its business, but, with the advent of agentic artificial intelligence, the question is whether the regime can accommodate decision-making systems whose behavior is not fully predictable, says Joseph A. Hall at Davis Polk.

  • More Cos. Will Copy SpaceX's Shareholder Proposal Opt-Out

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    For more than 80 years, the shareholder proposal looked like a federal right guaranteed to all public company investors, but after SpaceX opted out before its recent initial public offering, other companies are likely to follow, says Mohsen Manesh at the University of Oregon School of Law.

  • Prediction Market Case Will Test US Insider Trading Reach

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    The insider trading case recently brought against Google employee Michele Spagnuolo may help clarify the extraterritorial reach of the Commodity Exchange Act and U.S. agencies' ability to police foreign trading in prediction markets, say attorneys at Akin.

  • The Hidden Settlement Problem In Complex Securities Cases

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    The Second Circuit's recent decision in Knapp v. Barclays is a reminder that in securities cases with complex corporate records, the tracing picture is rarely as settled as the complaint suggests, and that conversations in the early stages require everyone to work from the same underlying facts, says Peter Kamminga at JAMS.

  • Series

    Power To The Paralegals: Burnout As A Structural Problem

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    Law firm leadership can best retain their paralegals not by encouraging self-care, but by seeking top-down structural solutions for the quiet proliferation of responsibilities and the vicarious exposure to client trauma that particularly drive burnout in this vital role, says Erika Sneeringer at Brockstedt Mandalas.

  • 2 Prediction Market Cases Will Test Insider Trading Theory

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    Prosecutors in two recent Southern District of New York cases have filed separate charges against two defendants who used confidential information gathered from each employer to place prediction market bets, but each prosecution must overcome different legal hurdles established by the U.S. Supreme Court and the Second Circuit, says John Siffert at Lankler Siffert.

  • Takeaways From 1st Del. Ruling Applying Moelis Amendments

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    Delaware corporations should carefully review contractual arrangements and governance documents following the Court of Chancery's recent enforcement of a non-Delaware forum selection clause in a CEO's employment agreement under 2024 amendments to the state's General Corporation Law, say attorneys at Morgan Lewis.

  • Ill. Law Firm MSO Bill Clashes With Court Power, Ethics Rules

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    An Illinois bill prohibiting law firms from certain business arrangements with management service organizations, sent to the governor for signature last week, encroaches upon the courts' constitutional powers and goes beyond the Illinois Rules of Professional Conduct in regulating investment in law-related services, says Matthew O’Hara at Smith Gambrell.

  • 3rd Circ. Decision Sheds Light On BIPA Bank Exemption

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    The Third Circuit's recent decision in McGoveran v. Amazon illuminates how courts are extending the Illinois Biometric Information Privacy Act's financial institution carveout beyond banks and insurers to technology vendors and other businesses handling biometric data, a defendant-friendly shift that still casts uncertainty around BIPA's enforcement, say attorneys at Dorsey & Whitney.

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