SEC, CFPB Rulemaking Agendas Show Deregulatory Push

By Aislinn Keely

Federal regulators overseeing the financial services sector on Thursday unveiled new rulemaking agendas that they say will return their agencies to their core missions with policies to define authority and limit compliance burdens.

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Goldman Investors Clinch Class Cert. In 1MDB Bribery Suit

By Katryna Perera

A New York federal judge on Thursday overruled objections raised by Goldman Sachs and fully adopted a magistrate judge's recommendation to certify a class of Goldman investors who claim losses from the 1MDB bond bribery scandal.

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Gov't Backs Funds Against Activist Investor Before High Court

By Katryna Perera

The federal government and the U.S. Chamber of Commerce have filed amicus briefs in support of a group of investment funds that are asking the U.S. Supreme Court to constrain the rights of private parties to file lawsuits under the Investment Company Act.

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Democrats Press Trump's Fed Pick On His Independence

By Jessica Corso

Stephen Miran, a close ally of President Donald Trump, was sharply questioned by Democratic senators on Thursday about his ability to independently carry out a leadership role at the Federal Reserve's Board of Governors after he said he would refuse to resign from the president's Council of Economic Advisers if confirmed.

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Trump Says 'Century-Old' Precedent Backs Fed Gov.'s Firing

By Rae Ann Varona

President Donald Trump on Thursday hit back at Federal Reserve Board Gov. Lisa Cook's motion seeking to block her termination from the central bank, telling a Washington, D.C., federal court that Cook was ignoring "century-old" U.S. Supreme Court precedent that he says forecloses review of her removal for cause.

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7th Circ. Doubts Investor's Priority To $2.5M In Fraud Funds

By Celeste Bott

Seventh Circuit judges seemed skeptical Thursday of a real estate banking firm's argument it should have been prioritized over other investors with respect to proceeds from the liquidation of assets related to an alleged $135 million Ponzi scheme, pointing to evidence the firm noticed red flags but dropped the ball in investigating.

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Which GCs Sold Stock In August? Carlyle Group And More

By Sue Reisinger

General counsel Jeffrey W. Ferguson, who has been with the Carlyle Group for 26 years, cashed in some $19 million worth of stock in August.

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Cathay Bank Denies Knowledge Of $20M NFT Scam Suit

By Sydney Price

California-based Cathay Bank asked a federal judge to throw out claims alleging it ignored red flags from scammers and enabled a $17 million romance scam, arguing the victim did not allege the bank even knew about the alleged fraud.

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Trader With Middle Name 'Danger' Owes $3.8M In SEC Claims

By Emilie Ruscoe

A securities trader with the middle name "Danger" who was sentenced to nearly four years in prison after copping to a federal wire fraud charge in connection with a $2.9 million Ponzi scheme, is also on the hook for $3.8 million in disgorgement and prejudgment interest in a parallel U.S. Securities and Exchange Commission suit, a California federal judge has ruled.

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Albertsons Says Kroger CEO Docs Fair Game In Del. Suit

By Jeff Montgomery

An attorney for Albertsons Companies Inc. told a Delaware vice chancellor Thursday the food and drugstore giant should get access to The Kroger Co.'s documents related to CEO Rodney McMullen's abrupt exit from the job months after the collapse of the two companies' planned $25 billion merger.

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Hedge Fund Shareholders Push To Dismiss $300M Asset Suit

By Abigail Harrison

A derivative lawsuit from shareholders who allege that leaders of an investment fund allowed an exchange of over $300 million in diversified assets for "worthless" illiquid equity considers a novel issue of Delaware law and should be dismissed without prejudice, counsel for the shareholders told the North Carolina Business Court on Thursday at a hearing.

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3rd Circ. Preview: Sept. Features Biosimilars, Gambling Cases

By P.J. D'Annunzio

The Third Circuit's September argument lineup is packed with cases centering on the biosimilars segment of the pharmaceutical industry and gambling companies embroiled in disputes originating from New Jersey.

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AARP Attys Back Suit Challenging TIAA's 401(k) Management

By Grace Elletson

AARP attorneys have offered their resources to a proposed class action claiming the Teachers Insurance and Annuity Association of America shirked federal benefits law by failing to cut costly and underperforming proprietary investment funds from its workers' retirement plans.

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Series

Teaching Trial Advocacy Makes Us Better Lawyers

Teaching trial advocacy skills to other lawyers makes us better litigators because it makes us question our default methods, connect to young attorneys with new perspectives and focus on the needs of the real people at the heart of every trial, say Reuben Guttman, Veronica Finkelstein and Joleen Youngers.

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Legal Sector Jobs Creep Back Down After 5 Months Of Gains

By Tracey Read

U.S. legal industry jobs inched down by 200 positions last month, reflecting a loss for the first time in six months, according to preliminary data released Friday by the U.S. Bureau of Labor Statistics.

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Judges Warn ICE Is Turning Courts Into Deportation Traps

By Marco Poggio

As Immigration and Customs Enforcement officers violently arrest unauthorized immigrants in court buildings' hallways, former and current judges warn that the Trump administration is using courts as a dragnet, arresting people indiscriminately and expelling them with little to no due process in a bid to fulfill President Donald Trump’s goal of mass deportations.

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Ex-Bankruptcy Clients Defend Deal Over Jackson Walker Affair

By Adrian Cruz

Former Jackson Walker LLP bankruptcy clients said Friday that a proposed settlement meant to resolve a dispute regarding the concealed romance between a judge and attorney should go through as planned because the U.S. Trustee lacks jurisdiction to challenge the deals.

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Not That Zuckerberg: Atty Sues Meta Over FB Page Takedown

By Rachel Rippetoe

Indianapolis bankruptcy attorney Mark S. Zuckerberg is suing Meta Platforms Inc. after his firm's commercial Facebook account was repeatedly suspended because of his shared name with the tech company's CEO and founder.

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Analysis

How A 'Risky' Move Fueled Kobre & Kim's Win Over Phillips 66

By Cara Salvatore

In the trial over Propel Fuels' claims that Phillips 66 stole trade secrets during due diligence for an acquisition, Kobre & Kim switched up standard witness order and convinced a jury to award $605 million.

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OnlyFans Users May Face Sanctions Over AI 'Misuse'

By Craig Clough

OnlyFans users who have alleged the site employs professional "chatters" to impersonate content creators are facing possible sanctions in their case, as a California federal judge ordered their attorneys to appear in court for filing briefs with nonexistent citations and quotations generated by an AI chatbot.

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How Attys Freed Woman Snatched By ICE In Less Than 48 Hours

By Marco Poggio

The breakneck speed with which a Colombian asylum seeker was detained, transferred and nearly deported underscores the time crunch facing attorneys who fight removals, say the Keker Van Nest & Peters LLP lawyers whose pro bono work freed the woman from custody.

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Motley Rice Fights OptumRx DQ Bid In Utah Opioid Suit

By Jack Karp

Pharmacy benefit manager OptumRx cannot disqualify Motley Rice LLC from representing Utah in a lawsuit over the opioid crisis, since any information the firm obtained during its involvement in earlier government investigations is available to all other parties in the multidistrict litigation and so isn't confidential, the state has told a federal court.

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Judge Awards Over $6M In Atty Fees In Bluetooth Co.'s IP Suit

By Zach Dupont

A Colorado federal judge has awarded the attorneys representing a Bluetooth technology company more than $6 million after the company won on the bulk of its claims at trial last year in its trade secrets and breach of confidentiality case against a Massachusetts display technology company.

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Fla. Bar Moves To Suspend Atty Accused Of Widespread Scam

By Phillip Bantz

The Florida Bar filed a petition Friday seeking the emergency suspension of a lawyer accused of scamming dozens of clients, failing to pay associates and paralegals who worked at his firm and repeatedly violating court orders.

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Analysis

SEC, CFTC Set Sights On Crypto In Regulatory Collab

By Jessica Corso

The U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission said Friday they are moving forward with a broad regulatory harmonization effort that they hope will encourage innovation in growing markets, and lawyers tell Law360 they expect the focus to be writing rules governing the crypto sector.

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Judicial Nominee Expands On Testimony About Ky. Pardons

By Courtney Bublé

A judicial nominee for the Eastern District of Kentucky continues to distance himself from the controversial pardons issued by former Kentucky Gov. Matt Bevin, for whom he was counsel.

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SEC Lost Year's Worth Of Gary Gensler Texts, Watchdog Says

By Hailey Konnath

The U.S. Securities and Exchange Commission made "avoidable errors" that caused the agency to lose all text messages sent and received by former chair Gary Gensler for nearly a year of his tenure, some of which haven't been recovered, according to a report from the SEC's Office of Inspector General.

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Analysis

Trump Plan For Nat'l Guard In Chicago Sparks Legal Concerns

By Celeste Bott

President Donald Trump's plan to send the National Guard to Chicago over the objections of Illinois' governor could face similar legal hurdles as his use of the military in Los Angeles to quell protests over immigration raids, with some experts and local officials suggesting he may try to use an impending immigration crackdown in the city to justify a similar deployment.

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FTC Drops Appeal For Rule Banning Noncompetes

By Matthew Perlman

The Federal Trade Commission officially abandoned its appeal Friday in a case that set aside a Biden administration rule banning the use of most employee noncompete clauses, but the agency said it plans to bring enforcement actions on a case-by-case basis instead.

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DC Circ. Won't Halt Order Releasing Billions In Foreign Aid

By Rae Ann Varona

Both a divided D.C. Circuit panel and a district court judge Friday refused to hit pause on the judge's recent order requiring the Trump administration to release billions of dollars in frozen foreign aid.

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Trump Nominates 3 To Be DC Superior Court Judges

By Courtney Bublé

President Donald Trump has nominated three people to serve on the District of Columbia's local courts, bringing the district one step closer to easing its vacancy crisis.

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Democrat Slaughter Asks Justices To Let Her Stay On FTC

By Bryan Koenig

Democratic Federal Trade Commissioner Rebecca Slaughter urged the U.S. Supreme Court on Friday not to pause her reinstatement while the Trump administration challenges lower court decisions holding that her firing was illegal, saying those decisions were plainly correct and she's in no danger of sowing "chaos."

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UK Litigation Roundup: Here's What You Missed In London

By Max Austin

This past week in London has seen professional boxing promoter Boxxer take action against the former head of boxing at Matchroom Sport, Aegis Motor Insurance and Chubb European Group clash over a reinsurance claim, and a transgender pool player sue the English Blackball Pool Federation over its decision to ban her competing in women's teams and tournaments. 

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

In arguing that the proposed class action against the business should be denied, online platform OnlyFans' parent company said that the decision to use AI to create mistake-riddled documents is severe misconduct. Meanwhile, the U.S. Department of Labor's employee benefits arm unveiled a new fee disclosure rule involving pharmacy benefit managers and plans to revisit retirement plan fiduciary investment advice regulations. These are some of the stories in corporate legal news you may have missed in the past week.

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Law360's Legal Lions Of The Week

By Kevin Penton

Milbank LLP, Wilson Sonsini Goodrich & Rosati PC and the Liberty Justice Center lead this week's edition of Law360 Legal Lions, after the Federal Circuit held that President Donald Trump's emergency tariffs were improperly imposed under the International Emergency Economic Powers Act.

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In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

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