Big Banks Say Investors' Beefed-Up Tricolor Claims Still Fail

By Sydney Price

JPMorgan, Barclays and Fifth Third doubled down on their bid to dismiss an investor suit accusing them of facilitating an alleged auto loan fraud by Tricolor Holdings, saying they were also blindsided by Tricolor's actions.

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Rakoff Tosses Securities Fraud Claims Against Coinbase

By Emilie Ruscoe

U.S. District Judge Jed Rakoff has tossed securities fraud claims against cryptocurrency exchange Coinbase brought by investors in a digital asset that tracked the native token of the now-failed Terraform blockchain ecosystem.

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Spirit Execs Say Investor Suit Can't Lean On 'Hindsight'

By Rae Ann Varona

Spirit Aviation's current and former top executives have urged a Florida federal court to toss a proposed shareholder class action that accuses them of misleading investors about the company's prospects amid two bankruptcy filings, saying an investor failed to allege any misleading statements and instead relied on impermissible "fraud-by-hindsight" allegations.

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Jane Street Slams Terraform's Insider Trading Claims

By Jessica Corso

Jane Street is looking to escape a lawsuit accusing it of trading on insider information ahead of the collapse of cryptocurrency company Terraform Labs, telling a New York federal judge that it shouldn't have to "foot the bill" for a fraud that Terraform itself committed.

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9th Circ. Won't Renew Wash. Developer's Suit Against County

By Rachel Riley

A Ninth Circuit panel declined Friday to resurrect a Washington developer's lawsuit accusing Whatcom County officials of violating its constitutional rights by scaling back a housing development plan, concluding that the firm hasn't shown a protected stake in the property that it offloaded during Chapter 11 bankruptcy proceedings.

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Roundup

Real Estate Recap: Insurance Allure, People Pinch, Blackstone

By Real Estate Authority Staff

Catch up on this past week's key developments by state from Law360 Real Estate Authority — including an alluring source of capital for real estate investment trusts, how competition for skilled workers may hamper data center development, and Blackstone Inc.'s take on the first quarter of the year.

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Fox Rothschild Lands Restructuring Ace From Riker Danzig

By Jake Maher

Fox Rothschild LLP gained a former longtime Riker Danzig LLP partner in its financial restructuring and bankruptcy department with experience in complex restructurings, corporate trust matters and more, the firm announced this week.

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Brief

Top Restructuring Atty Joins Kirkland From Wachtell Lipton

By Andrea Keckley

Kirkland & Ellis LLP announced this week that it has hired the head of Wachtell Lipton Rosen & Katz's finance and restructuring practices, calling him a "leader in the field of liability management."

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ABA Settles Scholarship Suit After Disavowing Racial Criteria

By Grace Elletson

The American Bar Association struck a deal to end a suit claiming a scholarship program for racial and ethnic minorities discriminated against white applicants, in line with a vow it made last year that its programs would be race-neutral, according to a filing Monday in Illinois federal court.

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2nd Trump Judicial Nominee Questioned Over Fla. State Case

By Courtney Bublé

For the second time in a year, a judicial nominee for a Florida federal court is under scrutiny for allegedly presiding over a state level case involving President Donald Trump while being considered for a federal judgeship.

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Reed Smith Targeted In Eletson Gas Ownership Fracas

By Caroline Simson

Reed Smith LLP and two of its partners are facing a $262 million lawsuit in a long-running and bitter dispute over ownership of an international gas shipping company, as well as other issues that remain unresolved following the vacatur of an underlying $102 million arbitral award for fraud.

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Alabama Justices Toss Case Over Atty's AI-Hallucinated Briefs

By Lauren Berg

The Alabama Supreme Court tossed an appeal and sanctioned a Mobile, Alabama, attorney for filing "grossly deficient" briefs that contained multiple inaccurate legal citations that the justices attributed to artificial intelligence "hallucinations."

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Justices Deny Ramey Appeal Of Sanctions In Google IP Case

By Ryan Davis

The U.S. Supreme Court on Monday refused to review $255,000 in sanctions on embattled attorney William Ramey and a client for bringing what a California judge said was a frivolous patent suit against Google, turning down his appeal arguing the decision used the wrong legal standard.

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Analysis

How A Rush To Trial Paid Off With A Rare FCPA Acquittal

By Phillip Bantz

A defense strategy to fast-track the trial in a yearslong criminal foreign bribery case against a Mexican businessman in Texas appeared to backfire when he was convicted and sent to prison last year, but the gamble ultimately paid off when a judge permanently tossed the case earlier this month.

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Toss Of Atty's LVMH Claim 'Problematic,' 2nd Circ. Judge Says

By Pete Brush

A Second Circuit judge said Monday that he is having a "hard time" understanding how the firing of a LVMH lawyer wasn't connected to her earlier harassment allegations, indicating a willingness to revive retaliation claims against the luxury goods giant.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week tackled a fresh mix of deal litigation, procedural disputes and fiduciary duty claims, with several rulings and filings underscoring the court's continued focus on contractual precision, forum enforcement and the limits of stockholder challenges.

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