3 Firms Guide $5B IPO For Ackman's Pershing Square Fund

By Jade Martinez-Pogue

Pershing Square Inc. founder and CEO Bill Ackman's investment company began trading publicly on Wednesday after raising $5 billion in a "combined" initial public offering that sold shares of a new closed-end investment fund alongside shares of his hedge fund company.

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Blue Owl Adviser Sued Over Alleged Fee Inflation

By Jessica Corso

A Blue Owl Capital Corp. investor is suing the lender's wholly owned investment adviser in New York federal court over allegations that the adviser inflated Blue Owl's assets in order to "extract windfall fees" from the firm.

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Uzbekistan Fund Shoots For $1.95B Valuation In London IPO

By Najiyya Budaly

Uzbekistan's sovereign wealth fund said Tuesday that it is aiming for a market capitalization of $1.95 billion in its London and Tashkent initial public offering.

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Powell Says He'll Stay On Fed Board After Time As Chair Ends

By Jon Hill

Federal Reserve Chair Jerome Powell said Wednesday that he won't immediately leave the central bank once his term ends next month and plans instead to remain on its board temporarily, pointing to the Trump administration's recent "legal attacks" on the institution.

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Warsh's Fed Bid Moves Ahead After Powell Probe Is Shelved

By Jon Hill

A U.S. Senate panel on Wednesday advanced President Donald Trump's pick of Kevin Warsh to lead the Federal Reserve, putting him on track for confirmation next month after a Republican holdout lifted his blockade tied to the now-dropped probe of current Fed Chair Jerome Powell.

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Del. High Court Affirms Dismissal Of FTX Claim Deal Suit

By Jarek Rutz

The Delaware Supreme Court has upheld a lower court's dismissal of a dispute over a failed attempt to purchase a multimillion-dollar claim tied to the collapse of onetime crypto giant FTX Trading Ltd., affirming that the case does not belong in Delaware courts.

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NY Says Crypto Co. To Pay $5M Over Fraud Promotion Claims

By Sydney Price

Cryptocurrency platform operator Uphold HQ Inc. will pay $5 million to settle claims from the New York attorney general's office that it promoted now-bankrupt Cred Inc.'s fraudulent, high-risk crypto scheme for which Cred's former executives were sentenced to prison last year.

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CEO Stole From His Company To Buy Mansion, SEC Says

By Jessica Corso

The former CEO of a California-based pharmaceutical company agreed Wednesday to pay the U.S. Securities and Exchange Commission $30,000 to end a lawsuit accusing him of misappropriating $3.2 million in company funds partly to buy a Beverly Hills mansion.

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Citgo Bidder Violating Confidentiality Agreement, Court Hears

By Caroline Simson

Counsel for the oil giant Citgo has accused an affiliate of hedge fund Elliott Investment Management LP of improperly revealing and distorting its confidential information as the parties inch closer toward ending a long-running saga aimed at satisfying billions of dollars' worth of Venezuelan debt.

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Shoals, Investors Strike $70M Deal To Settle Wire Defect Suit

By Rae Ann Varona

Shoals Technologies Group Inc. and investors who accused the solar energy equipment-maker of having downplayed defects in its wire harnesses used in aggregating electricity have reached a settlement that, if approved, would pay roughly $70 million to a settlement class, they have told a Tennessee federal judge.

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CFTC Taps Agency Veteran To Run Its Whistleblower Office

By Sarah Jarvis

The Commodity Futures Trading Commission announced Wednesday that it has named as the director of its whistleblower office an agency litigation attorney who also has experience as a trial attorney in its enforcement division.

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Robinhood Hires Morgan Lewis Atty For Senior Counsel Role

By Gina Kim

A former Morgan Lewis & Bockius LLP attorney has moved to Robinhood to join the financial trading platform's litigation and regulatory enforcement team. 

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Improving Well-Being In Law, 10 Years After Landmark Study

An important 2016 study revealed significant substance abuse and mental health issues among lawyers, and while the findings helped normalize the conversation around these topics, a decade later, structural change is still needed, says Denise Robinson at PLI.

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Analysis

Comey Indictment Built On Bad Legal Foundation, Experts Say

By Phillip Bantz

The criminal indictment of former FBI Director James B. Comey over an alleged threat against President Donald Trump by way of a social media post of seashells appears to be based on either an outdated or flawed understanding of the legal standard required to prove the charges in the case, which could sink the prosecution, according to experts.

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GrayRobinson Faces More Suits Over 2025 Data Breach

By Adrian Cruz

After being hit with a proposed class action accusing GrayRobinson PA of negligence following the revelation of a March 2025 data breach, the Florida-based firm is now facing two further suits regarding the same incident.

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Justices Limit Voting Rights Act Suits While Voiding La. Map

By Katie Buehler

The U.S. Supreme Court struck down Louisiana's congressional map containing two majority-Black voting districts Wednesday and further limited the Voting Rights Act's use in challenging racial discrimination in legislative redistricting — a decision the dissent claims completes the conservative majority's "demolition" of the seminal civil rights law.

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Fla. Judge Pick Denies Conflict In Trump Defamation Case

By Courtney Bublé

A judicial nominee for the Southern District of Florida on Wednesday denied there was any overlap between when he presided over a case involving President Donald Trump and when the White House let him know Trump was considering him for the federal judgeship.

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Judiciary Advisers Back Looser Limits On Defense Subpoenas

By Jeff Overley

A campaign by white collar defense lawyers against long-standing limits on subpoena powers cleared a key hurdle Wednesday when federal judiciary advisers endorsed earlier and easier access to potentially favorable evidence despite staunch resistance from crime victims' advocates.

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Former AG Bondi To Appear Before House Committee May 29

By Courtney Bublé

Former Attorney General Pam Bondi will appear before the House oversight committee on May 29, committee Republicans said Wednesday.

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Nadine Menendez Denied Bail During Bribery Conviction Appeal

By George Woolston

A New York federal judge on Wednesday denied a bid from Nadine Menendez for bail while she appeals her conviction on a bribery scheme carried out with her ex-senator husband, ruling that her motion doesn't raise a substantial question of law.

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