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Compliance
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April 22, 2025
SEC Won't Renew Case Against Hex Crypto Founder
The U.S. Securities and Exchange Commission won't take a second crack at its fraud case against the founder of the Hex, PulseChain and PulseX crypto projects after a Brooklyn federal judge tossed the suit last month due to a lack of stateside ties.
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April 22, 2025
District's $59M Building Contract Void Over Undisclosed Gifts
A state appeals court freed a West Texas school district from a suit over the termination of a $59 million construction contract, finding that the construction company didn't properly disclose multiple gifts to district employees.
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April 22, 2025
CFPB Waves White Flag In Prepaid Rule Fight With PayPal
The Consumer Financial Protection Bureau has abandoned its D.C. Circuit defense of a rule that subjected Venmo-style digital wallets to some of the same fee disclosure requirements as reloadable prepaid cards, walking away from an appeal of PayPal's legal challenge to the regulation.
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April 22, 2025
4th Circ. Rejects Full Court Review Of Credit Union's Liability
The Fourth Circuit has declined to take a second look at a panel decision finding a credit union cannot be held liable for a scammer's use of its services to swindle a metal fabricator out of $560,000.
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April 22, 2025
CFTC Wants Input On 24/7 Trading, Perpetual Contracts
The U.S. Commodity Futures Trading Commission is asking the public for feedback on how it should address the availability of 24-hour trading as well as so-called perpetual derivatives that are sometimes used to speculate on the price of cryptocurrencies.
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April 22, 2025
Kalshi, Crypto.com Fight Md. Regulator On Sports Contracts
Trading platform KalshiEx LLC and the derivatives platform owned by Crypto.com have each sued Maryland gaming regulators for allegedly preempting federal authority with directives to shut down sports event contracts the agency contends are unregistered wagers.
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April 22, 2025
DOJ Wants Time During 9th Circ. Vegas Room Rate Arguments
The U.S. Department of Justice has asked to participate in the Ninth Circuit argument for an appeal from Las Vegas casino-hotel guests accusing the operators of using software to inflate room rates, the first algorithmic price-fixing case to reach an appeals court.
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April 22, 2025
DOJ Says Google Ad Tech Win Supports Apple Antitrust Case
The U.S. Department of Justice told a New Jersey federal court its recent win against Google in the ad tech monopolization case supports allowing claims that Apple monopolizes smartphone markets to proceed.
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April 22, 2025
Phillips Steps Down As FERC Commissioner
Federal Energy Regulatory Commission Commissioner Willie Phillips stepped down from his role on Tuesday, paving the way for President Donald Trump to install a Republican majority at the five-member agency.
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April 22, 2025
Montana Farmers Union Asks To Join Tribe's Anti-Tariff Suit
The Montana Farmers Union wants to be included in a suit filed by members of the Blackfeet Nation challenging President Trump's tariffs on imports from Canada and abroad, arguing that the duties under scrutiny hurt the state's farmers the same way they hurt tribal members.
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April 22, 2025
Ark. Offers Credit For 50% Of New Payroll For HQ Relocations
Arkansas created an income tax credit for businesses that relocate their corporate headquarters to the state equal to up to 50% of their payroll for qualifying employees under a bill signed by Gov. Sarah Huckabee Sanders.
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April 22, 2025
J&J Ends Trade Secrets Suit Against Now Deceased Ex-Exec
Johnson & Johnson has reached a settlement with the estate of a former executive that it accused of stealing confidential files when he left the company to work for Pfizer, but who died in the middle of the litigation, the parties told a New Jersey federal court.
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April 22, 2025
FCC Clears Remaining Roadblocks For Smart Car Tech
There won't be any more need for waivers of technical rules to kickstart smart car technology in the 5.9 gigahertz spectrum band now that recent regulations have paved the way for the advancement, the Federal Communications Commission said.
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April 22, 2025
Court Appoints Monitor In SEC's $1B PE Fraud Case
A Florida federal judge has appointed a founding partner of a Florida law firm to serve as a monitor in the U.S. Securities and Exchange Commission's suit against a private equity firm it says defrauded investors in a $1 billion fund focused on real estate and small business funding.
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April 22, 2025
Cut Satellite Launch Costs, Loosen Limits, FCC Told
Internet satellite company Astranis wants the Federal Communications Commission to spur more space innovation by cutting the expense of satellite launches and eliminating restrictions that delay U.S. companies' ability to obtain orbital slots.
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April 22, 2025
Chase Bank Can't Ditch Claims It Aided $119M Ponzi Scam
A California federal judge trimmed on Monday SiliconSage Builders LLC receiver's lawsuit accusing JPMorgan Chase of allegedly helping the now-defunct real estate developer carry out a massive $119 million Ponzi scheme, tossing an unjust enrichment claim, but allowing the bulk of the aiding-and-abetting allegations to survive.
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April 22, 2025
JPMorgan Fined $650K Over Regulation M Reporting Failures
The Financial Industry Regulatory Authority and several stock exchanges, including Nasdaq and some New York Stock Exchange entities, teamed up to fine JPMorgan $650,000 for failing to file hundreds of required reports under Regulation M, which makes it unlawful for brokers to trade on certain securities during a restricted period.
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April 22, 2025
Nuclear Startup To Go Public Through $475M SPAC Deal
Nuclear startup Terra Innovatum said Tuesday it plans to go public at a valuation of $475 million by merging with special purpose acquisition company GSR III Acquisition Corp., joining several industry peers to go public through a SPAC deal.
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April 22, 2025
MoFo Adds Perkins Coie FDA Regulatory Leader In DC
Morrison Foerster LLP has hired a former Perkins Coie LLP leader who focuses his practice on a range of regulatory matters involving the U.S. Food and Drug Administration as its new head of food and regulatory, the firm announced Tuesday.
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April 22, 2025
In Trump Standoff, Harvard Has Law And Money On Its Side
With strong free-speech arguments and plenty of cash at its disposal, Harvard University appears better positioned than most Trump administration foes to win a high-stakes and closely watched showdown over threats to cut off funding, experts told Law360.
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April 22, 2025
Anticipating NIL Deal, NCAA Changes Athlete Pay Rules
The NCAA has officially adopted policy changes that will allow college athletes to be paid, to go into effect when the $2.78 billion antitrust settlement between schools and athletes receives final court approval.
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April 22, 2025
Wells Fargo 'Sham' Hiring Suit Delayed For Mediation
A California federal judge agreed to move deadlines in a proposed investor class action accusing Wells Fargo of conducting "sham" job interviews to meet diversity targets that later triggered a stock drop when the practice was revealed, citing plans to attempt mediation in May.
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April 22, 2025
Greenberg Traurig Gains Gaming Shareholders In Chicago, DC
Greenberg Traurig LLP has hired two gaming attorneys who focus their practices on regulatory and business-side matters, who bring their practices to the group's Washington, D.C., and Chicago offices, the firm announced Tuesday.
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April 22, 2025
Nossaman Health Atty Talks Staffing, Evolving Calif. Law
A former Procopio Health attorney has made the jump to Nossaman LLP at a time when California law around peer and judicial review processes for medical staff is evolving.
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April 22, 2025
Morgan Lewis Hires Ex-CFTC General Counsel
Robert A. Schwartz, the former general counsel of the U.S. Commodity Futures Trading Commission, has joined Morgan Lewis & Bockius LLP as a partner in its investment management practice, the firm announced Tuesday.
Expert Analysis
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Navigating The Uncertain Future Of The Superfund PFAS Rule
The D.C. Circuit's recent grant of a pause in litigation while the U.S. Environmental Protection Agency reviews the Biden-era designation of two per- and polyfluoroalkyl substances as "hazardous" under the Superfund law creates new uncertainty for companies — but more lawsuits are likely as long as the rule remains in effect, say attorneys at Alston & Bird.
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Opinion
SEC Defense Bar Should Pursue Sanctions Flexibility Now
The U.S. Securities and Exchange Commission defense bar has an opening under the new administration to propose flexible, tailored sanctions that can substantially remediate misconduct and prevent future wrongdoing instead of onerous penalties, which could set sanctions precedent for years to come, says Josh Hess at BCLP.
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What To Know About Insurance Coverage For Greenwashing
As the number of public and private lawsuits relating to greenwashing dramatically grows, risk managers of companies making environmental claims should look to several types of insurance for coverage in the event of a suit, say attorneys at Hunton.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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Series
Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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Considering The Future Of AI Regulation On Health Sector
As Texas looks to become the next state to pass a comprehensive law regulating artificial intelligence, the healthcare industry should consider how AI regulation will continue to evolve in the U.S. and how industry members can keep up with compliance considerations, say attorneys at Kirkland & Ellis.
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30 Years Later: How PSLRA Has Improved Securities Litigation
In the 30 years since the Private Securities Litigation Reform Act's passage, the statute has achieved its purpose of shifting securities class actions to investors most capable of monitoring the litigation, selecting competent counsel at competitive rates and maximizing recoveries for the investor classes they represent, say attorneys at Bernstein Litowitz.
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How Banks Can Prepare For NYDFS Overdraft Overhaul
The New York State Department of Financial Services' recent proposal to amend overdraft rules for financial institutions underscores states' potential to create consumer protection mechanisms in the absence of meaningful federal action, say attorneys at Steptoe.
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Terraform Case May Be Bellwether For Crypto Enforcement
The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
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Contractor Liability When Directing Subcontractor Workforce
A recent Virginia Court of Appeals decision that rejected a subcontractor employee’s tortious interference claim should prompt prime contractors to consider how to mitigate liability risk associated with directing a subcontractor to remove its employee from a federal project, say attorneys at Venable.
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What's Next For Russia Sanctions After Task Force Disbanded
Attorney General Pam Bondi’s recent disbanding of Task Force KleptoCapture, which was initially aimed at seizing Russian oligarchs’ funds and assets, is unlikely to mean the end of Russia sanctions enforcement and other economic countermeasures, as the architecture for criminal enforcement remains in place, say attorneys at BakerHostetler.
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Texas Banking Dept. Memo Demystifies Crypto Classifications
A recent memorandum from the Texas Department of Banking provides clarity with respect to the classification of both stablecoins and nonstablecoin virtual currencies under the state's Money Services Modernization Act, flagging for firms that stablecoins may be scrutinized more closely as money transmission, say attorneys at Lowenstein Sandler.
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How Law Firms Can Counteract The Loneliness Epidemic
The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.
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What Remedies Under New Admin's SEC Could Look Like
The U.S. Securities and Exchange Commission is likely to substantially narrow the remedies it pursues over the next few years, driven by the mounting challenges it faces in court, as well as the views of its incoming chair and fellow Republican commissioners on injunctions, penalties and disgorgement, say attorneys at Milbank.
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Handbook Hot Topics: Back To Basics After Admin Change
Having an up-to-date employee handbook is more critical now than ever, given the recent change in administration, and employers should understand their benefits and risks, including how they can limit employers’ liability and help retain employers’ rights, say Kasey Cappellano and Meaghan Gandy at Kutak Rock.