Expert Analysis

• 2nd Circ. Ruling Reinforces Securities Act Limits Post-Slack

  

  The Second Circuit's recent decision to limit treatment of mandatory reverse splits as actionable sales in Knapp v. Barclays is narrow but important, offering issuers a stronger basis to challenge expansive Securities Act theories and reinforcing the post-Slack v. Pirani discipline of tracing, says Elisha Kobre at Sheppard.

• 2 Discovery Rulings Break With Heppner On AI Privilege Issue

  

  While a New York federal court’s recent ruling in U.S. v. Heppner suggests that some litigants’ communications with AI tools are discoverable, two other recent federal court decisions demonstrate that such interactions generally qualify for work-product protection under the Federal Rules of Civil Procedure, says Joshua Dunn at Brown Rudnick.

• Opinion

  BNP Paribas Case Could Upend Global Banking Norms

  

  If upheld on appeal, a New York federal jury's multimillion-dollar verdict against BNP Paribas would create an unpredictable liability landscape for global financial institutions in which fully lawful services in foreign countries can give rise to civil liability in U.S. courts, in a manner contrary to federal law, say attorneys at White & Case.

• Series

  Isshin-Ryu Karate Makes Me A Better Lawyer

  

  My involvement in martial arts, specifically Isshin-ryu, which has principles rooted in the eight codes of karate, has been one of the most foundational in the development of my personality, and particularly my approach to challenges — including in my practice of law, says Kaitlyn Stone at Barnes & Thornburg.

• Opinion

  CBP's $166B Tariff Refund Portal Needs 4 Safeguards

  

  Before launching its automated web portal to process tariff-refund disbursements on April 20, U.S. Customs and Border Protection should apply the expensive lessons learned from the pandemic-era employee retention credit, says Peter Gariepy at RubinBrown.

• Decoding Arbitral Disputes: Tracing Paths To Award Recovery

  

  Recent subpoenas to Adidas and Hilton deployed in Blasket Renewables v. Spain, pending in D.C. federal court, show arbitration award recovery to be a disciplined exercise in constructing visibility, applying pressure and sequencing procedural advantage, says Josep Galvez at 4-5 Gray's Inn Square.

• 5 Key Questions Attys Should Ask About Statistical Analyses

  

  Even attorneys without a background in statistics can effectively vet the general concepts of a statistical analysis by asking targeted questions and can thereby reinforce the credibility and relevance of expert testimony — or expose its weaknesses, say Katrina Schydlower and Christopher Cunio at Hunton and Kevin Cahill at FTI Consulting.

• Class Actions At The Circuit Courts: April Lessons

  

  In this month's review of class action appeals, Mitchell Engel at Shook Hardy identifies practice tips from three recent rulings involving allegations of racial discrimination in mortgage applications, health insurance networks and actual cash value losses.

• 'Made In America' EO May Not Survive Section 230

  

  President Donald Trump's recent executive order to combat fraudulent "Made in America" claims in advertising directs the Federal Trade Commission to deem online marketplaces' failure to verify third-party origin claims as unlawful, but such a rule would likely run into Section 230's publisher immunity doctrine, say attorneys at Blank Rome.

• Assessing EcoFactor's Impact On Damages Experts' Opinions

  

  Though the Federal Circuit's ruling in EcoFactor v. Google gave rise to concerns that damages experts would be forced to rely on undisputed facts, recent case law suggests that those concerns are unwarranted, says Christopher Loh at Venable.

• High Court Cert Case Would Test Sovereign Award Immunity

  

  The D.C. Circuit's July 2025 Amaplat Mauritius v. Zimbabwe Mining Development decision appears to create a circuit split while elevating form over substance in a manner that, if left unreviewed by the U.S. Supreme Court, could bar the courthouse doors for creditors holding arbitration awards against recalcitrant foreign sovereigns, says Jeff Newton at Omni Bridgeway.

• CFTC Actions Show Prediction Market Insider Trading Risks

  

  It is a myth that insider trading law does not apply in prediction markets, as the U.S. Commodity Futures Trading Commission's recent enforcement actions illustrate that it has full authority to pursue such cases federally — and intends to, says attorney Gregg Goldfarb.

• 2nd Circ. Clarifies When Prior Good Acts May Be Admissible

  

  The Second Circuit's recent ruling in U.S. v. Cardenas, vacating a drug conspiracy conviction over improperly excluded evidence, indicates that evidence of prior good acts may be admissible to corroborate a defendant's testimony about their understanding of events and intent, say attorneys at Lowenstein Sandler.

• Opinion

  Apple Discovery Fight Could Revive DOJ's Antitrust Appetite

  

  Winning discovery disputes in the ongoing federal antitrust litigation over Apple’s app store practices is a huge opportunity for the Justice Department to return to its once-vigorous pursuit of product tying by tech monopolies, catch up with foreign competition regulators and establish clear standards for digital markets, says Ediberto Roman at Florida International University.

• Lockdown To Ledger: COVID Rulings Inform Crypto Coverage

  

  As cryptocurrencies move deeper into mainstream financial markets, courts tasked with determining whether traditional insurance policies respond to digital asset losses have been evaluating coverage through the analytical framework of COVID-19 business interruption litigation, with one key recurring theme, say attorneys at Kennedys.