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Capital Markets
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July 30, 2025
Truist Triggered Employee Exodus, Not Ex-Execs, Court Told
Three former executives who helmed the real estate finance arm of Truist Financial Corp. and their new employer are seeking a pretrial win in the bank's poaching case, telling a North Carolina state court judge they aren't to blame for Truist's alleged bad business decisions.
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July 30, 2025
Celsius Administrator Gets OK To Continue Clawbacks
A New York bankruptcy judge shot down challenges to attempts by the Chapter 11 plan administrator for Celsius Networks to claw back transfers, saying a settlement provision didn't prevent the administrator from pursuing the clawbacks and the transactions fall under U.S. jurisdiction.
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July 30, 2025
Dechert Adds Tax Pro From PwC In DC
Dechert LLP has continued to grow its financial services platform in Washington, D.C., with the hire of a partner from PwC.
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July 30, 2025
Rising Star: Latham's Salvatore Vanchieri
Latham & Watkins LLP partner Salvatore Vanchieri has steered a gamut of groundbreaking deals, from electric-truck startup Rivian's blockbuster $11.9 billion initial public offering to private equity giant Sixth Street's investment in baseball's San Francisco Giants, landing him a spot among capital markets attorneys under age 40 honored by Law360 as Rising Stars.
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July 30, 2025
OCC Hires Top Skadden Banking Atty As New Chief Counsel
The Office of the Comptroller of the Currency said Wednesday that it is bringing on one of the leaders of Skadden Arps Slate Meagher & Flom LLP's bank regulatory practice to serve as the agency's new top lawyer.
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July 30, 2025
BVI Co. Seeks OK Of $5.8M Cost Award In Telecoms Fight
A British Virgin Islands company is asking a California federal court to enforce a $5.8 million cost award stemming from an arbitration dispute over a failed project to bring satellite broadband internet to sub-Saharan Africa.
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July 30, 2025
4 Firms Steer Palo Alto Networks' $25B CyberArk Buy
Cybersecurity giant Palo Alto Networks revealed plans Wednesday to acquire identity security company CyberArk in a cash-and-stock megadeal valued at $25 billion and built by four law firms.
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July 30, 2025
Samourai Wallet Execs Cop To Money-Transmitting Charges
Two Samourai Wallet executives told a Manhattan federal judge Wednesday that they facilitated bitcoin transfers derived from criminal activity, pleading guilty to scheming to use their crypto-mixer as an unlicensed money transmitter but avoiding a more serious money-laundering conspiracy count.
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July 30, 2025
AI, Crypto Securities Class Actions On The Rise, Report Says
The filing of new securities class actions has remained steady during the first half of 2025, but investor suits related to artificial intelligence and cryptocurrency are on pace to increase, according to a Cornerstone Research report released Wednesday, signaling the recent rapid growth of both industries.
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July 29, 2025
CFPB Plans 'Accelerated' Push To Revamp Open Banking Rule
The Consumer Financial Protection Bureau on Tuesday persuaded a Kentucky federal judge to stay a banking industry legal challenge to its Biden-era open banking rule, saying it now plans to rewrite the rule on an "accelerated" basis and expects to start next month.
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July 29, 2025
Tornado Founder Rests Case In $1B Crypto Laundering Trial
Tornado Cash co-founder Roman Storm on Tuesday rested his defense case, without taking the stand, in a trial over allegations that he and others facilitated the laundering of more than $1 billion via the cryptocurrency tumbler and ran afoul of U.S. sanctions on North Korea.
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July 29, 2025
Hedge Fund Nets $54M In S. Korea Samsung Merger Fight
South Korea has paid nearly $54 million owed under an arbitral award issued to a U.S. hedge fund in a dispute over a government bribery scandal that allegedly underpinned the $8 billion merger of two Samsung affiliates in 2015, Seoul said on Tuesday.
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July 29, 2025
Oil Co. Misled Investors Prior To $295M Offering, Suit Says
Oil and gas company Sable Offshore Corp. is facing a proposed investor class action alleging the company hurt investors by overpricing a secondary public offering after misrepresenting it had restarted oil production at a field off the coast of California.
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July 29, 2025
SEC Tosses Broker's NSCC Margin Rule Challenge
The U.S. Securities and Exchange Commission has dismissed a bid by Alpine Securities Corp. to challenge heightened margin requirements from the National Securities Clearing Corp., with the commission finding the rules are too broadly applicable to warrant review as a denial of access.
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July 29, 2025
SEC Greenlights 'In-Kind' Redemptions For Crypto ETPs
The U.S. Securities and Exchange Commission voted Tuesday to approve orders to allow cryptocurrency-based exchange-traded products to use in-kind creations and redemptions, aligning with more traditional ETPs.
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July 29, 2025
Hawk Tuah Meme Coin Buyers Seek To Combine Their Suits
Two groups of buyers of the viral "Hawk Tuah" meme-themed cryptocurrency on Monday asked a Brooklyn federal judge to combine their respective securities suits against the project's promoters and developers.
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July 29, 2025
Prime Core Ch. 11 Trust Seeks Return Of $2.1M In Transfers
The litigation trust for Prime Core Technologies has sued to claw back $2.1 million in cash and cryptocurrency paid out to customers in the weeks before its bankruptcy filing, saying other creditors are facing a serious recovery shortfall worsened by the payments.
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July 29, 2025
Crypto Mixer Execs To Change Plea In Samourai Wallet Case
The two co-founders of crypto mixer Samourai Wallet told a New York federal judge on Tuesday that they intend to change their not guilty pleas after initially fighting charges that they facilitated over $2 billion in unlawful transactions.
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July 29, 2025
REIT Shareholders File 'Improper Lending' Suit Against Execs
Two Arbor Realty Trust Inc. shareholders hit several of the real estate investment trust's executives, including its president and CEO Ivan Kaufman, with a derivative suit on Tuesday alleging they made the REIT use "improper lending practices" that saddled the company "with a severely distressed loan portfolio."
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July 29, 2025
Bit Digital's AI Infrastructure Subsidiary Eyes $125M IPO
Artificial intelligence infrastructure company WhiteFiber Inc. on Tuesday unveiled plans to spin off from its parent company Bit Digital by way of an initial public offering, with plans to raise an estimated $125 million in an offering built by four law firms.
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July 29, 2025
Convicted Crypto CEO Tied To Abramoff Gets 7-Year Sentence
A California federal judge Tuesday sentenced a cryptocurrency company founder who committed a multimillion-dollar fraud in a scheme also involving disgraced ex-lobbyist Jack Abramoff to seven years imprisonment — less than the 17 years prosecutors sought — in light of the man's childhood trauma, mental health and lack of criminal history.
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July 29, 2025
SEC, Crypto Bank Veteran Joins DeFi Platform As GC
A former senior attorney with the U.S. Securities and Exchange Commission, who most recently served as cryptocurrency bank Anchorage Digital's general counsel, is taking her experience navigating federal regulations and institutional demands to decentralized finance infrastructure platform Veda, the firm announced Tuesday.
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July 29, 2025
Rising Star: Covington's Alicia Zhang
Covington & Burling LLP's Alicia Zhang has helped steer a slew of high-profile capital-raising efforts, including advising J.P. Morgan on Kyverna Therapeutics' $367 million initial public offering and guiding BioNTech's $200 million investment in Autolus Therapeutics, earning her a spot among the capital markets law practitioners under age 40 honored by Law360 as Rising Stars.
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July 29, 2025
NC Engineer Says Green Energy Co. Withheld Stock Options
A former engineer at a North Carolina climate technology company sued his ex-employer, claiming the company and its board refused to let him exercise his stock options after he left for another green energy business.
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July 29, 2025
Only Franchisees Can Sue Franchisors, NJ Justices Say
The New Jersey Supreme Court on Tuesday held that a coalition of car dealerships can't sue Ford Motor Co. under the state's franchising law, ruling the plain language of the law only allows for franchisees to bring a cause of action against franchisors.
Expert Analysis
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Series
Playing Baseball Makes Me A Better Lawyer
Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success as a trial attorney, says Kevan Dorsey at Swift Currie.
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Managing Risks As State AGs Seek To Fill Enforcement Gap
Given an unprecedented surge in state attorney general activity resulting from significant shifts in federal enforcement priorities, companies must consider tailored strategies for navigating the ever-evolving risk landscape, say attorneys at Cozen O'Connor.
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A Deep Dive Into 14 Nixed Gensler-Era SEC Rule Proposals
The U.S. Securities and Exchange Commission last month formally withdrew 14 notices of proposed rulemaking, including several significant and widely criticized proposals that had been issued under former Chair Gary Gensler's leadership, signaling a clear and definitive shift away from the previous administration, say attorneys at Dechert.
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Series
Law School's Missed Lessons: Skillful Persuasion
In many ways, law school teaches us how to argue, but when the ultimate goal is to get your client what they want, being persuasive through preparation and humility is the more likely key to success, says Michael Friedland at Friedland Cianfrani.
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How Real Estate Funds Can Leverage Del. Statutory Trusts
Over the last two years, traditional real estate fund sponsors have begun to more frequently adopt Delaware Statutory Trust programs, which can help diversify capital-raising strategies and access to new sources of capital, among other benefits, say attorneys at Polsinelli.
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Litigation Inspiration: How To Respond After A Loss
Every litigator loses a case now and then, and the sting of that loss can become a medicine that strengthens or a poison that corrodes, depending on how the attorney responds, says Bennett Rawicki at Hilgers Graben.
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DOJ Crypto Enforcement Is Shifting To Target Willfulness
Three pending criminal prosecutions could be an indication of how the U.S. Department of Justice's recent digital assets memo is shaping enforcement of the area, and show a growing focus on executives who knowingly allow their platforms to be used for criminal conduct involving sanctions offenses, say attorneys at Gibson Dunn.
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Why SEC Abandoned Microcap Convertible Debt Crackdown
The U.S. Securities and Exchange Commission has recently dismissed several cases targeting microcap convertible debt lenders, a significant disavowal of what was a controversial enforcement initiative under the Biden administration and a message that the new administration will focus on clear fraud, say attorneys at O'Melveny.
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The Metamorphosis Of The Major Questions Doctrine
The so-called major questions doctrine arose as a counterweight to Chevron deference over the past few decades, but invocations of the doctrine have persisted in the year since Chevron was overturned, suggesting it still has a role to play in reining in agency overreach, say attorneys at Crowell & Moring.
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What 9th Circ. Ruling Shows About Rebutting SEC Comments
The Ninth Circuit's June opinion in Pino v. Cardone Capital suggests that a company's lack of pushback to a U.S. Securities and Exchange Commission comment may be evidence of its state of mind for evaluating potential liability, meaning companies should consider including additional disclosure in SEC response letters, say attorneys at Barnes & Thornburg.
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GENIUS Act Creates 'Commodity' Uncertainty For Stablecoins
Half a century ago, Congress made trading in onion futures on commodity exchanges unlawful, and payment stablecoins could soon face a similarly unstable fate in the markets as the GENIUS Act heads to the president's desk for signature, says Peter Malyshev at Cadwalader.
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Feds' Shift On Reputational Risk Raises Questions For Banks
While banking regulators' recent retreat from reputational risk narrows the scope of federal oversight in some respects, it also raises practical questions about consistency, reputational management and the evolving political landscape surrounding financial services, say attorneys at Smith Anderson.
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Defense Lessons From Freshworks' Win In Post-IPO Case
A California federal court’s recent decision to grant Freshworks’ summary judgment bid in a proposed investor class action helpfully clarifies two important points for defendants facing postoffering securities claims under Section 11 of the Securities Act, say attorneys at Paul Weiss.
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'Loss' Policy Definition Is Key For Noncash Settlements
A recent Delaware decision in AMC Entertainment v. XL Specialty Insurance, holding that the definition of loss includes noncash settlement payments, is important to note for policyholders considering other settlement options — like two other class actions that recently settled for vouchers, say attorneys at Reed Smith.
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Series
Playing Mah-Jongg Makes Me A Better Mediator
Mah-jongg rewards patience, pattern recognition, adaptability and keen observation, all skills that are invaluable to my role as a mediator, and to all mediating parties, says Marina Corodemus.