Data Center Power Provider Accelevation Eyes $660M IPO

By Jade Martinez-Pogue

Data center power provider Accelevation Holdings on Tuesday outlined a price range for an estimated $660 million initial public offering steered by Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP.

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SEC E-Delivery Plan Draws Access Concerns, Enviro Praise

By Jessica Corso

State regulators, labor unions and at least one member of Congress are among those urging the U.S. Securities and Exchange Commission to rethink a proposal that would allow issuers and market intermediaries to default to electronic delivery of investor documents, while Wall Street groups and environmental advocates praised the measure.

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OppFi SPAC Investors Get OK For $13M Post-IPO Flop Deal

By Katryna Perera

The Delaware Chancery Court on Tuesday approved a $13 million settlement to end litigation accusing special purpose acquisition company FG New America Acquisition Corp. and several of its executives and directors of overselling the value of merger target Opportunity Financial, whose stocks plummeted by some 80% after the take-public transaction.

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GOP Sen. Seeks Don Jr., Hunter Biden Biz Dealings Probes

By Rae Ann Varona

Sen. John Curtis urged Senate Judiciary Committee leaders to subpoena Donald Trump Jr. and Hunter Biden to testify about past business dealings with foreign individuals and entities, citing reports of a Russian oligarch and Vladimir Putin associate gifting the wedding after-party of President Donald Trump's oldest son in May.

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Analysis

4 Flashpoints In FDIC's Bid To Revamp Bank Merger Reviews

By Jon Hill

The Federal Deposit Insurance Corp.'s new plan to overhaul its bank merger review process is aimed at delivering faster, more predictable decisions on deals, but some of its key provisions could spark friction as banks and their critics weigh in over the coming weeks.

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CFTC Warns Prediction Platforms Of 'Mention Market' Risks

By Aislinn Keely

The U.S. Commodity Futures Trading Commission on Tuesday warned prediction market operators that offering wagers on whether a person will say certain words, interact with someone or attend an event comes with heightened manipulation risks that platforms must address before listing.

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Kalshi Seeks CFTC OK For Event Contract Margin Trading

By Aislinn Keely

Kalshi on Tuesday asked the U.S. Commodity Futures Trading Commission to sign off on a framework for allowing certain users to trade with borrowed funds, in a move aimed at drawing more institutional activity to the prediction market platform.

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Coinbase Halts Mich. Sports Offerings Amid Litigation

By Alex Lawson

Coinbase has agreed to pull its sports event contracts from Michigan while the Sixth Circuit untangles a web of litigation over the legality of prediction market platform sports offerings across two other states.

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Microsoft Investor Seeks Records Around AI, Copilot Claims

By Ben Adlin

Microsoft Corp. is facing a lawsuit from a Washington shareholder seeking internal company records in order to investigate what the complaint calls "apparent wrongdoing of Microsoft's directors and officers," including possible insider trading, stock buybacks at artificially inflated prices and the use of copyrighted works to train artificial intelligence models.

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UiPath Execs, Investor Clash Over Bid To Ax Derivative Suit

By Jarek Rutz

UiPath Inc.'s directors and executives urged the Delaware Chancery Court on Tuesday to throw out a shareholder derivative suit accusing them of misleading investors and trading on inside information, while shareholder Scott Rudolph argued the board was too conflicted to fairly decide whether the company should pursue the claims itself.

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SEC Fines Broker-Dealer Over System Security Failures

By Sarah Jarvis

The U.S. Securities and Exchange Commission on Tuesday ordered OTC Link LLC to pay $575,000 over allegations that the New York-based broker-dealer did not establish and enforce policies to ensure the security of the technology underpinning one of its alternative trading systems, despite several citations from examiners.

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SEC Says Mobile Home Investment Scheme Was $10M Fraud

By Sydney Price

The U.S. Securities and Exchange Commission announced that it has settled claims against a Texas-based limited liability company and its owner accused of fraudulently raising $9.6 million from nearly 100 investors with false promises of returns on investments in mobile home construction.

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Series

Fintech Regulator Outlook: 5 Lessons From Minnesota

Minnesota's recent cryptocurrency kiosk ban and virtual currency custody rules hold several broad compliance lessons: Digital asset companies must map regulated activities, strengthen third-party oversight and engage regulators early to innovate responsibly, says Deputy Commissioner of Financial Institutions Mike Crow at the Minnesota Department of Commerce.

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Seyfarth Says Data Breach Exposed Social Security Numbers

By Hailey Konnath

Seyfarth Shaw LLP has disclosed a recent data breach that exposed the names and Social Security numbers of at least 300 individuals, according to notices filed with the Texas and California attorneys general.

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Meta Flaunts 'Abuse' Of Atty-Client Privilege, Judge Told

By Dorothy Atkins

A California federal judge ordered Meta on Tuesday to rereview privilege designations on 300 documents in social media addiction litigation, after plaintiffs' lawyers cited a "culture of privilege abuse" epitomized by Instagram swag hats embroidered with "a/c priv" — the shorthand used to log withheld documents.

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Mich. Fed. Judge On 1-Year Leave Over Drunken Driving Case

By Jack Karp

U.S. District Judge Thomas L. Ludington is taking a one-year paid leave of absence from the bench following his misdemeanor conviction for drunken driving, the U.S. District Court for the Eastern District of Michigan announced Tuesday.

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Womble Bond Can't Quit Dutch Client With TM Trial Looming

By Hayley Fowler

Womble Bond Dickinson can't withdraw from a trademark feud that's dragged on for more than five years between U.S. and Dutch software companies, a North Carolina federal judge ruled, saying the firm's exit at this late stage "would be completely disruptive."

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