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May 05, 2026
A Phoenix federal judge on Tuesday barred Arizona officials from enforcing state gambling laws against federally regulated prediction market platforms in an order finding that the federal government is likely to succeed on claims that the event contracts at issue are swaps beyond the reach of state regulators.
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May 05, 2026
Attorney Marcus J. Williams joined Kilpatrick Townsend & Stockton LLP's Seattle office as a partner in its financial institutions team, the firm announced Tuesday, saying the hire from Buchalter PC would help bolster Kilpatrick's growth in the Pacific Northwest and Intermountain Region.
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May 05, 2026
A California financier Tuesday denied allegations in a $100 million fraud lawsuit over a "sham" loan transaction aimed at funding an investment into an artificial intelligence company, adding that the dispute belongs in arbitration in the Bahamas.
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May 05, 2026
Bankrupt cryptocurrency exchange Bittrex urged a Seattle federal judge to toss a $24 million judgment entered as part of a 2023 settlement with the U.S. Securities and Exchange Commission, arguing that the agency has since done an "about-face" on crypto and abandoned its position that digital tokens are securities.
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May 05, 2026
The D.C. Circuit has dinged the U.S. Securities and Exchange Commission for failing to adequately explain why it denied a whistleblower award to an anonymous individual who brought forth information leading to a successful enforcement action, ordering the commission to reconsider whether it was in the public interest to deny the man's claim.
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May 05, 2026
Santander Bank and its investment adviser unit have sued a former employee, alleging that he improperly wooed away the vast majority of his clients when he decamped for a competitor.
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May 05, 2026
BlackRock and State Street have further urged a Texas federal judge to trim down antitrust claims from Republican state attorneys general accusing the asset managers of driving up coal prices, arguing that the chain from their investment activity to retail electricity prices "stretches through multiple intervening markets and countless nonparties."
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May 05, 2026
Amylyx Pharmaceuticals and a class of shareholders are seeking judicial approval for a $6.5 million settlement to resolve allegations that the drugmaker overstated the commercial potential of a treatment for amyotrophic lateral sclerosis, or ALS, that was ultimately shelved.
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May 05, 2026
Five banking groups say proposed language governing interest and rewards payments on stablecoins, intended to advance a bill to regulate crypto markets, "falls short," while the lawmakers behind the proposal say they've worked directly with banks for months to "encourage compromise."
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May 05, 2026
Bullish said Tuesday it has agreed to acquire Equiniti in a $4.2 billion transaction steered by three law firms, as the institutional digital asset platform aims to create a global transfer agent for tokenized securities.
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May 05, 2026
The U.S. Securities and Exchange Commission on Tuesday lifted a lifetime ban preventing a New York attorney from practicing before the agency, following an attempt to leverage a client's testimony before the SEC.
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May 05, 2026
The U.S. Department of Justice has asked a Washington, D.C., federal judge to vacate his decisions that blocked subpoenas from its now-closed criminal investigation into Federal Reserve Chair Jerome Powell, arguing that the slate should be wiped clean on mootness grounds.
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May 05, 2026
The U.S. Securities and Exchange Commission on Tuesday proposed a regulation that will allow publicly traded companies to report their earnings every six months instead of every three, a policy championed by President Donald Trump for years and one that SEC leadership hopes will encourage more initial public offerings.
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May 05, 2026
Transocean Ltd. disclosed Tuesday that the U.S. Department of Justice Antitrust Division was scrutinizing its plan to acquire rival Valaris Ltd. in an all-stock deal valued at about $5.8 billion, pausing the combination of two of the largest offshore drilling fleets into a $17 billion operator.
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May 04, 2026
The U.S. Securities and Exchange Commission told a New York federal judge Monday it has agreed to dismiss its parallel civil enforcement action against Iconix Brand Group's founder who was accused of falsely inflating revenue by $11 million to meet earnings targets and had his conviction overturned by the Second Circuit.
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May 04, 2026
Former Exxon Chief Executive Rex Tillerson testified Monday that the company's top brass never pressured employees to make the company's holdings seem more profitable than they were, telling a jury in Texas federal court that he stood by the reports the company issued to investors.
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May 04, 2026
A hedge fund that is suing units of Bank of America and Canadian Imperial Bank of Commerce for alleged spoofing by their clients has told a New York federal court that a recent decision to exclude the hedge fund's damages expert doesn't doom its case, pushing back on a bid from the banks for an end to the litigation.
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May 04, 2026
Artificial intelligence computing company Cerebras Systems Inc. on Monday filed plans to raise around $3.4 billion in its blockbuster initial public offering, a long-awaited move that comes after the company withdrew previous plans for a public debut in October.
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May 04, 2026
Three California tribes have asked a federal judge to stay their litigation seeking to stop prediction market platforms from conducting what they say is illegal gambling on their lands, saying they can wait until the Ninth Circuit rules on their appeal challenging a denied preliminary injunction.
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May 04, 2026
The Office of the Comptroller of the Currency has told the Ninth Circuit a former Rabobank compliance officer is not entitled to $4 million in attorney fees and expenses over costs purportedly incurred during an abandoned enforcement proceeding, arguing the record "raises serious questions as to whether the request is excessive."
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May 04, 2026
A Maryland federal judge has permanently tossed a lawsuit brought by Alliance Global Capital Fund and a cheese shop that sought $900 billion in damages alleging Wells Fargo refused to redirect funds it knew were credited to the wrong account, finding a majority of the case's claims were brought too late.
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May 04, 2026
The sponsor of a blank check company linked to energy giant Nabors Industries Ltd. pushed back against an investor suit alleging its top brass unfairly claimed a $29 million settlement despite missing a deadline to merge with another company, arguing the investor bought shares knowing the acquisition already failed.
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May 04, 2026
Fintech platforms have told the U.S. Commodity Futures Trading Commission that few events should be off-limits for trading as the agency crafts rules for prediction markets, while tribes, consumer groups and states are calling on the agency to ban sports markets altogether as off-label gambling.
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May 04, 2026
Trump family-tied crypto firm World Liberty Financial LLC hit back at crypto billionaire Justin Sun with a defamation suit Monday, claiming he bet against a token he publicly hyped as part of an alleged short-and-distort scheme.
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May 04, 2026
Wells Fargo, a California law group and an Arizona investment advisory firm have been hit with a suit in a Texas federal court alleging they aided a purported Ponzi scheme over a purported oil-and-gas industry technology company.