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Capital Markets
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September 19, 2025
Off The Bench: Briefings On Trans Ban, New Kalshi Conflicts
In this week's Off The Bench, the U.S. Supreme Court receives initial briefs from West Virginia and Idaho regarding their bans on gender identity-based participation in school sports, Kalshi is taken to court by another state over its event contract offerings, and Washington, D.C.'s National Football League team takes a major step toward returning to its namesake city.
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September 19, 2025
Ellenoff-Led SPAC Among 3 IPOs Seeking Total $450M
Galata Acquisition Corp. II, a special purpose acquisition company formed by Callaway Capital Management, began trading Friday after raising $150 million by offering 15 million units at $10.
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September 19, 2025
SEC Wins 'Scalping' Trial Against Penny Stock Trader
A Manhattan federal jury held an Ohio man liable on Friday in a case brought by the U.S. Securities and Exchange Commission alleging he fraudulently earned over $2.5 million by buying up penny stocks, hyping them online and then selling for gains in a "scalping" scheme.
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September 18, 2025
Ex-FBI Informant Gentile Owes SEC Over $15.5M, Judge Rules
A onetime FBI informant and his shuttered, unregistered broker-dealer owe the U.S. Securities and Exchange Commission monetary obligations of over $15.5 million before interest, a Miami federal judge has determined, though the defendant's attorneys said Thursday he plans to appeal.
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September 18, 2025
BofA Unit To Pay $5.6M To End DOJ Market Manipulation Case
The U.S. Department of Justice said Thursday that an investment banking arm of Bank of America Corp. will pay roughly $5.6 million to resolve a criminal investigation into market manipulation allegations involving two now-former traders on its U.S. Treasurys desk.
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September 18, 2025
SEC Eases Path For Crypto ETPs With New Listing Rules
The U.S. Securities and Exchange Commission has eased a key part of the listing process for crypto exchange-traded products, and attorneys say the move may create a shorter path to market for years to come.
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September 18, 2025
Arbitration Clauses Won't Protect IPOs From Investor Suits
With the U.S. Securities and Exchange Commission greenlighting the use of mandatory arbitration clauses for newly public companies, securities litigation experts are waiting to see whether any company is willing to risk the almost inevitable legal blowback that will come with taking advantage of the policy.
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September 18, 2025
Dems Demand DOJ Explain Binance Plea Deal Compliance
U.S. Sen. Elizabeth Warren and two of her Democratic colleagues have asked U.S. Attorney General Pam Bondi for information on Binance's compliance with its 2023 plea agreement stemming from anti-money laundering lapses, pointing to President Donald Trump's ties to the crypto exchange.
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September 18, 2025
Crypto Promoter Gets Prison For $14M Forcount Fraud
A Manhattan federal judge Thursday sentenced a promoter of the fake cryptocurrency outfit Forcount Trader Systems Inc. to a year and a day in prison for his role in a $14 million Ponzi and pyramid scheme that defrauded thousands of primarily Spanish-speaking investors around the globe.
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September 18, 2025
SafeMoon Ch. 7 Trustee Pitches $12M Settlement
Cryptocurrency asset company SafeMoon US LLC's Chapter 7 trustee has asked a Utah bankruptcy judge to approve a settlement for a class action alleging the company defrauded investors, saying the deal to pay plaintiffs at least $12 million is fair and wise.
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September 18, 2025
Jury Mulls Claims Man Duped Penny Stock Traders On Twitter
A Manhattan federal jury on Thursday weighed fraud claims against an Ohio salesman from securities regulators who say he duped other traders as he took in over $2.5 million buying penny stocks, hyping shares on Twitter before selling in a "scalping" scheme.
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September 18, 2025
Firms Look To Drop Shareholder Client Sapien In Linqto Ch. 11
Lawyers for Sapien Group, a shareholder that has taken an active role in investment platform Linqto's Chapter 11 in Texas, have asked to withdraw from the case — saying their client has not paid outstanding legal bills.
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September 18, 2025
Trading Adviser, Convicted Owner Hit With $2.8M CFTC Fine
A commodity trading adviser and pool operator who pled guilty in Florida federal court to orchestrating a novel cryptocurrency-related scheme to cheat investors has agreed to pay more than $2.8 million as part of a settlement with the Commodity Futures Trading Commission.
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September 18, 2025
Sports Group Brera Raises $300M To Launch Solana Treasury
Irish sports ownership holding company Brera Holdings, led by Lowenstein Sandler LLP, on Thursday announced that it plans to rebrand as a digital asset treasury company called Solmate following a $300 million private fundraise.
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September 18, 2025
Group Of US Investors To Buy TikTok, Plus More Rumors
A consortium of big-name buyers including Oracle, Silver Lake and Andreessen Horowitz are rumored to be taking a majority stake in TikTok after a long search to find the app a U.S. owner; Paramount Skydance is reportedly ready to make an offer for Warner Bros. Discovery; and private equity shop CVC is close to inking a $1.5 billion deal to acquire web-hosting provider Namecheap. Here, Law360 breaks down these and other deal rumors from the past week.
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September 18, 2025
Trump Asks High Court To Let Him Remove Fed's Cook
President Donald Trump asked the U.S. Supreme Court on Thursday to allow him to move forward with firing Federal Reserve Gov. Lisa Cook, escalating a fight over presidential removal power that will test the boundaries of the central bank's traditional independence.
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September 18, 2025
Bonds Valid Under Venezuelan Law, Judge Rules In $2B Case
A New York federal judge on Thursday denied a bid by Venezuela's state-owned oil company to refuse enforcement of some $2 billion in defaulted bonds, finding after an "exhaustive review of Venezuelan law" that the bonds were validly issued.
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September 17, 2025
Trump Could Swing Fed With This 1 Weird Trick: Ex-Fed Gov.
A former top Federal Reserve official told Democratic lawmakers on Wednesday that if President Donald Trump succeeds in quickly ousting Fed Gov. Lisa Cook, it could unlock an obscure mechanism for his allies at the Fed to sway future interest-rate decisions.
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September 17, 2025
Crypto Exec Cops To $200M Bitcoin Ponzi Scheme
The chief executive officer of a cryptocurrency trading company pled guilty on Tuesday in Virginia federal court to a $200 million Ponzi scheme that federal prosecutors said defrauded more than 90,000 investors worldwide and allowed the executive to buy luxury vehicles, clothing and homes worth several million dollars.
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September 17, 2025
Credit Investment Firm Sues UBS Over Naked Juice Loan Deal
A Connecticut branch of UBS faces a credit-investment firm's claims that UBS breached the terms of a loan participation agreement funding bottled juice company Naked Juice LLC after a restructuring of the agreement resulted in less favorable terms for the limited partnership.
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September 17, 2025
Crypto Exchange Bullish Gets BitLicense From NY Regulator
Venture-backed crypto exchange Bullish announced Wednesday that it has obtained a so-called BitLicense from the New York State Department of Financial Services, allowing it to offer crypto spot trading and custody to institutions and sophisticated investors in the state.
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September 17, 2025
VC-Backed Cybersecurity Biz Netskope Prices $908M IPO
Netskope, a cybersecurity firm with venture capital backing, is set to begin trading on the Nasdaq Thursday after pricing a $908 million initial public offering, at the top of its upwardly revised range.
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September 17, 2025
FINRA Fines Okla. Investment Firm For Mishandling Funds
The Financial Industry Regulatory Authority has fined Oklahoma-based Oak Hills Securities Inc. $125,000 to settle claims that it failed to return money owed to investors, did not deposit invested funds into authorized accounts and did not properly file certain offering documents.
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September 17, 2025
Chancery Mulls Limited Discovery In $8.7B Cerevel Sale Suit
A Delaware vice chancellor said Wednesday he is considering denial of a motion to dismiss as well as limited plaintiff discovery in a suit accusing Cerevel Therapeutics Holdings Inc. insiders of lining up a secondary stock sale ahead of the biopharma's disclosure of a proposed $8.7 billion sale to AbbVie.
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September 17, 2025
Noteholders Say $219M Mexico Claim Can Proceed
Noteholders owed hundreds of millions of dollars by Mexican television producer TV Azteca are defending their $219 million investor-state claim against Mexico after its courts allegedly stymied collection efforts, saying any procedural deficiency in their claim arose as a result of the Mexican court's actions.
Expert Analysis
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How The DOJ Is Redesigning Its Approach To Digital Assets
Two key digital asset enforcement policy pronouncements narrow the Justice Department's focus on threats like fraud, terrorism, trafficking and sanctions evasion and dial back so-called regulation by prosecution, but institutions prioritizing compliance must remember that the underlying statutory framework hasn't changed, say attorneys at Blank Rome.
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At 'SEC Speaks,' Leaders Frame New Views
At the Practising Law Institute's recent SEC Speaks conference, U.S. Securities and Exchange Commission leadership highlighted the agency's significant priority changes, including in enforcement, crypto and artificial intelligence, say attorneys at Perkins Coie.
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The Ins And Outs Of Consensual Judicial References
As parties consider the possibility of judicial reference to resolve complex disputes, it is critical to understand how the process works, why it's gaining traction, and why carefully crafted agreements make all the difference, say attorneys at Pillsbury.
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Opinion
The BigLaw Settlements Are About Risk, Not Profit
The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.
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Series
Brazilian Jiujitsu Makes Me A Better Lawyer
Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.
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Opportunities And Challenges For The Texas Stock Exchange
While the new Texas Stock Exchange could be an interesting alternative to the NYSE and the Nasdaq due to the state’s robust economy and the TXSE’s high-profile leadership and publicity opportunities for listings, its success as a national securities exchange may hinge on resolving questions about its regulatory and cost advantages, say attorneys at Norton Rose.
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Review Risk Is Increasing For Foreign Real Estate Developers
Federal and state government efforts have been expanding oversight of foreign investment in U.S. real estate, necessitating careful assessment of risk and of the benefits of notifying the Committee on Foreign Investment in the United States, say attorneys at Troutman.
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Series
Power To The Paralegals: An Untapped Source For Biz Roles
Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.
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The Legal Risks Of US Restrictions On Investments In China
The second Trump administration has continued to embrace a more restrictive economic policy toward China, including an ongoing review of further restrictions on the flow of U.S. capital to China, so early planning and enhanced diligence can reduce exposure to the challenges resulting from further restrictions, say attorneys at Cleary.
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Using Federal Forum Provisions To Nix State Securities Cases
A California appeals court's recent decision in Bullock v. Rivian clarifies that underwriters may enforce federal forum provisions to escape state court Securities Act claims, marking progress in restoring such lawsuits to federal court and reducing the litigation costs arising from duplicative state court litigation, say attorneys at Paul Weiss.
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Series
Playing Poker Makes Me A Better Lawyer
Poker is a master class in psychology, risk management and strategic thinking, and I’m a better attorney because it has taught me to read my opponents, adapt when I’m dealt the unexpected and stay patient until I'm ready to reveal my hand, says Casey Kingsley at McCreadyLaw.
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Does R-Squared Have A Role In Event Study Analysis?
With 2024 marking the second consecutive year to experience an increase in securities class action filings, determining the reliability of event study models is of utmost importance, but it's time to reconsider the traditional method of doing so, say analysts at StoneTurn Group.
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Opinion
Why It's Time To Retire The Efficient Market Hypothesis
As agentic artificial intelligence systems increasingly affect financial markets, the efficient market hypothesis no longer offers a viable foundation for legal and regulatory engagement, and a new theoretical foundation is needed, say Zachary Brenner, a student at California Western School of Law, and attorney Gary Brenner.
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Key Aspects Of FDIC's Resolution Planning FAQ
The Federal Deposit Insurance Corp.'s recent FAQ on changes to its resolution plan rule ease burdensome requirements for some large institutions and exempt others from discussion of franchise components, making it easier for banks to finalize submissions before the July 1 deadline, say attorneys at Moore & Van Allen.
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Series
Law School's Missed Lessons: Becoming A Firmwide MVP
Though lawyers don't have a neat metric like baseball players for measuring the value they contribute to their organizations, the sooner new attorneys learn skills frequently skipped in law school — like networking, marketing, client development and case evaluation — the more valuable, and less replaceable, they will be, says Alex Barnett at DiCello Levitt.