Securities

  • April 21, 2026

    FHFA Says High Court Ruling Dooms Shareholder Verdict

    An attorney for the Federal Housing Finance Agency told the D.C. Circuit on Tuesday that the agency had clear authority to act in its own interest as conservator for Fannie Mae and Freddie Mac in the wake of the 2008 housing market crash rather than prioritize the interest of the companies' shareholders.

  • April 21, 2026

    Kalshi, Tribes Must Weigh In On Pause For 9th Circ. Ruling

    A California federal judge on Tuesday ordered Golden State indigenous groups, KalshiEx Inc. and Robinhood to explain why their fight over allegedly illegal gambling shouldn't be paused pending the Ninth Circuit's decision in a case determining whether Nevada can enforce state gambling laws against prediction markets.

  • April 21, 2026

    NY AG Sues Coinbase, Gemini Over Event Contract 'Gambling'

    New York Attorney General Letitia James sued Coinbase and Gemini Tuesday, accusing them of "illegally running gambling operations" in the state through their prediction market offerings in twin actions that join a mounting pile of litigation between state gambling regulators and prediction market platforms.

  • April 21, 2026

    Warsh Rejects Claim He'd Be Trump's 'Sock Puppet' At Fed

    Federal Reserve chair nominee Kevin Warsh sought at his Tuesday confirmation hearing to rebut Democratic accusations that he would be a White House "sock puppet," distancing himself from President Donald Trump's calls for rate cuts and downplaying their significance.

  • April 21, 2026

    Attys Get $20M Cut Of $84M Wells Fargo ESOP Deal

    A Minnesota federal judge has greenlit a $20 million fee request from attorneys who secured an $84 million settlement in a suit claiming Wells Fargo violated federal benefits law by using dividends earned by its employee stock ownership fund to offset its 401(k) contributions.

  • April 20, 2026

    Armistice Head Testifies He Accidentally Deleted Texts

    Armistice Capital's founder, who is facing investor claims that the hedge fund dumped its artificially inflated shares in pharmaceutical company Vaxart for $250 million, told a California federal jury Monday that during a physical therapy session held over Skype, he accidentally deleted key text messages with another Armistice executive.

  • April 20, 2026

    UK Wine Fraudster Gets 10 Years For $97M Ponzi Scheme

    A Brooklyn federal judge on Monday sentenced a former executive of a U.K. wine company to 10 years in prison for his role in a $97 million Ponzi scheme that defrauded investors in loans that were falsely billed as being fully collateralized by high-value wine collections, calling it a "very brazen crime that led to mass amounts of theft."

  • April 20, 2026

    Providence Health's Sour Investment Cost $70M, Retirees Say

    Retirement plan participants have hit hospital system Providence Health & Services with a proposed class action accusing the Washington-based nonprofit of losing nearly $70 million in assets by sticking with an underperforming mutual fund that lagged behind similar investment options.

  • April 20, 2026

    ImmunityBio Stock Fell After FDA Letter, Derivative Suit Says

    Biotechnology company ImmunityBio Inc.'s stock slipped by 21% after misleading statements on a podcast by the company's founder about its lead cancer drug prompted the issuance of a warning letter from the U.S. Food and Drug Administration, according to a shareholder derivative suit in California federal court.

  • April 20, 2026

    SEC Says Adviser Traded On Firm Clients' Confidential Info

    The U.S. Securities and Exchange Commission sued an ex-investment advisory firm associate in Manhattan federal court on Monday, accusing him of using a close relative's brokerage account to trade ahead of market-moving announcements by three biopharmaceutical and biotechnology companies that his firm was researching.

  • April 20, 2026

    Two Harbors Shareholder Sues To Stop CrossCountry Deal

    A shareholder for Two Harbors Investment Corp. filed a lawsuit in Illinois federal court asking a judge to block the real estate investment trust's merger with mortgage lender CrossCountry.

  • April 20, 2026

    SEC, CFTC Propose Rules To Relax Private Fund Reporting

    The U.S. Securities and Exchange Commission on Monday proposed relaxing certain reporting requirements for hedge funds and other private fund advisers by allowing smaller firms to forego filing a disclosure used to monitor systemic risk and nixing some of its questions around volatility, event reporting and indirect exposure altogether.

  • April 20, 2026

    Swim Training Co.'s IPO Was Pump-And-Dump, Suit Says

    Singapore swim-school operator Fitness Champs Holdings Ltd. was hit with a proposed class action accusing it of concealing a social media-driven "pump-and-dump" scheme in which stock promoters posed as financial advisers to hype the stock through online forums, destroying the company's market capitalization after the shares were dumped.

  • April 20, 2026

    SEC Says Trader Ran $5M Market Manipulation Scheme

    The U.S. Securities and Exchange Commission on Monday filed suit against a trader based in Puerto Rico who allegedly manipulated the prices of hundreds of securities and deceived investors into buying them at artificially inflated prices, netting him more than $5 million in illicit profits.

  • April 20, 2026

    NFT Buyer Says Ex-Software Biz Orchestrated Token Rug Pull

    A purported blockchain technology platform faces proposed class action allegations it made millions off a so-called rug pull, introducing a series of nonfungible tokens and teasing a cryptocurrency offering that never materialized, then selling those tokens into the artificial market it created and abandoning the platform.

  • April 20, 2026

    WWE Execs Urge Court To Reject 'Speculative' Evidence Bid

    The Delaware Chancery Court should not grant WWE shareholders' latest discovery motion, company leaders and related parties have said, arguing that investors' demand for more information about what they called deleted messages were unnecessary, unsupported and already satisfied.

  • April 20, 2026

    High Court SEC Case Threatens FERC Fraud Clawbacks

    Federal Energy Regulatory Commission efforts to claw back unjust profits from market frauds, a linchpin of the agency's enforcement work, face an uncertain future as the U.S. Supreme Court considers a challenge to the U.S. Securities and Exchange Commission's disgorgement powers.

  • April 20, 2026

    Credit Agricole's Hedging Strategy Cost Investors, Suit Says

    Credit Agricole Group has been hit with a suit in New York federal court alleging that the French bank engaged in a yearslong scheme to fraudulently induce two clients into a trading strategy it deemed the "perfect hedge" against certain market risks, when in reality, the strategy created hidden liabilities, forced liquidations and tens of millions of dollars in damages. 

  • April 20, 2026

    REIT Investors Get Initial OK For $2.3M Settlement

    Investors in real estate investment trust Sun Communities Inc. have received an initial nod for their proposed $2.3 million deal to end claims the company concealed that a former CEO received a loan from a board member's relatives, precipitating share price declines when the loan was disclosed by a short seller.

  • April 20, 2026

    Feds Get SEC Suit Paused Against Corporate Raider Bilzerian

    Prosecutors can pause U.S. Securities and Exchange Commission fraud claims in New York federal court against convicted corporate raider Paul Bilzerian and his associates as the government's own charges against him, his accountant and a vape company head for an October trial.

  • April 20, 2026

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court this past week delivered another mix of procedural rulings, fiduciary duty disputes and deal litigation, highlighting both the court's gatekeeping role and its continued focus on stockholder rights and transactional fairness.

  • April 20, 2026

    Justices Cast Doubt On Effort To Limit SEC Disgorgement

    The U.S. Supreme Court on Monday questioned an attempt to limit the U.S. Securities and Exchange Commission's disgorgement powers, with conservative and liberal justices alike seemingly skeptical of the argument that the agency has to identify victims before it can demand the return of ill-gotten gains.

  • April 20, 2026

    High Court Won't Hear 3rd Circ. J&J Class Cert. Appeal

    The U.S. Supreme Court on Monday said it won't review a class certification challenge in a securities class action over Johnson & Johnson's cancer-related talc products in the latest development in a closely watched dispute over how courts evaluate class certification in shareholder suits.

  • April 20, 2026

    Justices Won't Review Class Cert. In $12B VRDO Suit

    The U.S. Supreme Court on Monday declined to review a Second Circuit decision upholding class certification in a $12 billion municipal-bond antitrust lawsuit after a group of major banks argued the district court erred in not resolving an expert witness evidence dispute before granting certification.

  • April 17, 2026

    Judge Resets Investors' Lead Counsel In Globe Life Suit

    A Texas federal judge has reset the leadership structure in consolidated shareholder derivative litigation involving Globe Life Insurance Inc., granting the Plymouth County Retirement Association's bid to serve as sole lead plaintiff and appointing Scott + Scott Attorneys at Law LLP and Bleichmar Fonti & Auld LLP as sole co-lead counsel.

Expert Analysis

  • Del. Dispatch: Workplace Sexual Misconduct Liability In Flux

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    Following the Delaware Court of Chancery's recent contradictory rulings in sexual misconduct cases involving eXp World, Credit Glory and McDonald's, it's now unclear when directors' or officers' fiduciary duties may be implicated in cases of their own or others' sexual misconduct against employees, say attorneys at Fried Frank.

  • 4th Circ. D&O Ruling Shows Why Textual Policy Args Are Best

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    The Fourth Circuit's recent decision in favor of the insurer in Navigators Insurance v. Under Armour highlights how plain-text policy interpretation protects party autonomy and improves predictability to the benefit of both insurers and insureds, say attorneys at Zelle.

  • Should Prediction Markets Allow Trading On Nonpublic Info?

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    Recent trading activity, such as the Polymarket wager on the U.S. capture of Venezuelan President Nicolás Maduro, has raised questions about whether some participants may be engaging in trading that is based on material nonpublic information, and highlights ongoing uncertainty about how existing derivatives and anti-fraud rules apply to event-based contracts, say economic consultants at the Brattle Group.

  • Series

    Trivia Competition Makes Me A Better Lawyer

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    Playing trivia taught me to quickly absorb information and recognize when I've learned what I'm expected to know, training me in the crucial skills needed to be a good attorney, and reminding me to be gracious in defeat, says Jonah Knobler at Patterson Belknap.

  • Coinbase Ruling Outlines Litigation Committee Conflict Risks

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    The Delaware Court of Chancery's recent rejection in Grabski v. Andreessen of a special litigation committee's motion to terminate or settle — its first such decision in over a decade — over conflict concerns highlights why the independence of SLC counsel matters just as much as that of committee members, says Joel Fleming at Equity Litigation Group.

  • Series

    Law School's Missed Lessons: What Cross-Selling Truly Takes

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    Early-career attorneys may struggle to introduce clients to practitioners in other specialties, but cross-selling becomes easier once they know why it’s vital to their first years of practice, which mistakes to avoid and how to anticipate clients' needs, say attorneys at Moses & Singer.

  • OCC Mortgage Escrow Rules Add Fuel To Preemption Debate

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    Two rules proposed in December by the Office of the Comptroller of the Currency, which would preempt state laws requiring national banks to pay interest on mortgage escrow accounts, are a bold new federal gambit in the debate over how much authority Congress intended to hand state regulators under the Dodd-Frank Act, says Christian Hancock at Bradley Arant.

  • When Tokenized Real-World Assets Collide With Real World

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    The city of Detroit's ongoing case against Real Token, alleging building code and safety violations across over 400 Detroit residential properties, highlights the brave new world we face when real estate assets are tokenized via blockchain technology — and what happens to the human tenants caught in the middle, say Biying Cheng and Cornell law professor David Reiss.

  • Series

    Judges On AI: Practical Use Cases In Chambers

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    U.S. Magistrate Judge Allison Goddard in the Southern District of California discusses how she uses generative artificial intelligence tools in chambers to make work more efficient and effective — from editing jury instructions for clarity to summarizing key documents.

  • Opinion

    Corporations Should Think Twice About Mandatory Arbitration

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    The U.S. Securities and Exchange Commission's recent acceptance of mandatory arbitration provisions in corporate charters and bylaws does not make them wise, as the current system of class actions still offers critical advantages for corporations, says Mohsen Manesh at the University of Oregon School of Law.

  • A Closer Look At California Financial Regulator's 2026 Agenda

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    California Department of Financial Protection and Innovation Commissioner KC Mohseni in recent remarks demonstrated the regulator's growing importance amid the Consumer Financial Protection Bureau's retreat by debuting expansive goals for 2026, including finalizing rulemaking for the state's digital asset law and expanding enforcement authority around consumer complaints, says John Kimble at Hinshaw.

  • Series

    Trail Running Makes Me A Better Lawyer

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    Navigating the muddy, root-filled path of trail marathons and ultramarathons provides fertile training ground for my high-stakes fractional general counsel work, teaching me to slow down my mind when the terrain shifts, sharpen my focus and trust my training, says Eric Proos at Next Era Legal.

  • Navigating New Risks Amid Altered Foreign Issuer Landscape

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    The U.S. Securities and Exchange Commission's potential rulemaking to redefine who qualifies as a foreign private issuer will shape securities regulation and enforcement for decades, affecting not only FPIs and U.S. investors but also the U.S.' position in global capital markets, says Elisha Kobre at Sheppard.

  • Open Questions After Defense Contractor Executive Order

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    The scope and long-term effects of President Donald Trump’s executive order on the U.S. defense industrial base are uncertain, but the immediate impact is significant as it appears to direct the U.S. Department of Defense to take a more active role in contractor affairs, say attorneys at Morgan Lewis.

  • Tips From Del. Decision Nixing Major Earnout Damages Award

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    The Delaware Supreme Court recently vacated in part the largest earnout-related damages award in Delaware history, making clear that the implied covenant of good faith and fair dealing cannot be used to rescue parties from drafting choices where the relevant regulatory risk was foreseeable at signing, say attorneys at Sullivan & Cromwell.

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