Selig Says CFTC Will Propose Crypto Rules If Clarity Act Stalls

By Aislinn Keely

U.S. Commodity Futures Trading Commission Chairman Michael Selig said Thursday that he's directed agency staff to begin crafting crypto rules in the event that crypto market structure legislation fails to move forward in September.

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SEC Scraps Broker's Fine But Backs Trade-Clearing Ban

By Jessica Corso

The U.S. Securities and Exchange Commission said the nation's largest clearing agency was within its rights to block a now-defunct brokerage firm from using its services, but the commission said the broker would no longer have to pay a fine nor be on the hook for attorney fees for appealing the decision.

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Ex-Trade Desk Finance Director Accused Of Insider Trading

By Gina Kim

A former Trade Desk finance director traded on insider information ahead of public earnings announcements by his former employer, netting over $338,000 in profits, according to an indictment unsealed Thursday and a U.S. Securities and Exchange Commission complaint, both in New York federal court.

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HEICO Exec Arrested, Accused Of $1.8M Insider Trading Ploy

By Stewart Bishop

A senior HEICO Corp. executive was arrested Thursday and charged with securities fraud for what Manhattan federal prosecutors say were multiple instances of insider trading in the stock of the publicly traded aerospace and technology company.

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Sens. Call On FINRA To Update Rules To Curb Transfer Fraud

By Sarah Jarvis

U.S. Sens. Ron Wyden, D-Ore., and Elizabeth Warren, D-Mass., urged the Financial Industry Regulatory Authority to boost consumer protections to prevent brokerage fraud through the Automated Customer Account Transfer Service, pointing to "structural weaknesses" in the system they say bad actors are exploiting to drain customers' brokerage accounts.

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SEC Won't Lift Trading Suspension On Chinese Biotech Firm

By Sarah Jarvis

The U.S. Securities and Exchange Commission has upheld Nasdaq's decision to delist the stock of Shineco Inc. after the Chinese biotech firm repeatedly violated the exchange's listing requirements, rejecting the company's arguments that a Nasdaq hearing panel reached its decision too quickly and did not properly consider plans for new operations at Shineco.

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Binance Can't Arbitrate Crypto-Laundering Claims After All

By David Minsky

A Florida federal judge on Thursday vacated a ruling that compelled arbitration for proposed class claims alleging that Binance laundered stolen cryptocurrency, after a decision came down from the Eleventh Circuit finding that the individuals who filed their actions didn't have contractual relationships with the exchange.

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Adviser, Startup To Pay SEC $266K For Taking Client Data

By Kia Fatahi

The U.S. Securities and Exchange Commission has secured a nearly $266,000 judgment against a California-based investment adviser and his firm, and banned him from practicing for three years after he allegedly emailed himself confidential client information from his former employer and used it to launch his own investment firm.

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Brief

Deutsche Bank Freed From Fed's 2017 Forex-Rigging Order

By Katryna Perera

The Federal Reserve has terminated a 2017 enforcement action that required Deutsche Bank to pay nearly $137 million over its alleged role in Wall Street's foreign exchange rate-rigging scandals.

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Brief

Defunct Tax Startup CEO Barred From Deceiving Investors

By Zak Kostro

A California federal judge prohibited the CEO of a defunct tax compliance startup who was accused by the U.S. Securities and Exchange Commission of swindling $13 million from investors from deceiving anyone or disseminating false information regarding investments in violation of securities laws.

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Fashion Biz Founder Gets 5 Years For Large-Scale Fraud

By Pete Brush

A federal judge in New York sentenced the founder of bankrupt apparel company CaaStle to five years in prison on Thursday after she admitted to deceiving investors about the prospects of her supposed $1.4 billion business to fraudulently raise nearly $300 million.

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Firm Investor Sues In Chancery Over Alleged 'Corporate Coup'

By Jarek Rutz

An investment executive has sued in the Delaware Chancery Court to undo what he calls a "corporate coup d'etat" that allegedly stripped him of his power over an investment company by changing its bylaws without the supermajority vote he says was required.

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Eagle Pharma $9.5M Investor Deal Gets Final OK

By Katryna Perera

A $9.5 million settlement resolving claims that Eagle Pharmaceuticals Inc. and its former executives carried out a fraudulent "channel stuffing" scheme to inflate the revenue of one of the company's brand-name medications has received the final stamp of approval from a New Jersey federal magistrate judge.

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Judge Reopens Lead Counsel Fight In Vestis Derivative Suit

By Katryna Perera

A Georgia federal judge has temporarily vacated an earlier order appointing lead counsel and plaintiff in a shareholder derivative action against the top brass of Vestis Corp., reopening the leadership contest after additional plaintiffs joined the case.

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Vestis, Aramark Opposition To Cert. Bid 'Absurd,' Judge Told

By Sydney Price

A group of institutional investors urged a Georgia federal court to certify claims accusing uniform supplier Vestis Corp. and food and facilities services giant Aramark of making misleading statements about Vestis' operations prior to its 2023 spinoff from Aramark, saying several of the defendants' arguments opposing certification have been addressed.

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Brief

Canadian Bioscience Cos. Settle 'Fake' Fuel Trading Suit

By Rachel Konieczny

A Colorado state judge agreed to issue a stay and administratively close a case brought by two Canadian bioscience companies alleging that a Denver resident defrauded them out of nearly $1 million through "fake" fuel trading deals, amid an undisclosed agreement reached between the parties.

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Frontier's $14M Deal In 401(k) Verizon Stock Suit Gets 1st OK

By Aneeta Mathur-Ashton

A Connecticut federal judge has given his initial OK to a $14 million settlement Frontier Communications Corp. has reached to end a proposed class action over claims its employee 401(k) plan was overinvested in Verizon Wireless and other telecommunications stocks.

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SEC Rulemaking Radar: The Rubber Meets The Road

The U.S. Securities and Exchange Commission's new rulemaking agenda shows its regulatory reset taking shape, with sweeping crypto proposals that could bring the biggest changes it has made to broker-dealer, exchange and trading compliance in decades, says Christopher Grobbel at Goodwin.

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Series

Being In A Band Made Me A Better Lawyer

Playing shows in storied New York City venues and rehearsing with my bandmates in poorly ventilated rooms helped develop the professional qualities I rely on as a litigator, including an ability to collaborate with strong-minded equals and the determination to treat each client with singular focus, says Eliad Shapiro at Herrick Feinstein.

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How Does In-House Pay Compare? Take The Law360 Survey

How do in-house salaries vary across industries, roles, and organizational revenue? What compensation tools are companies using to lure top talent? Help Law360 Pulse answer these questions and more in this year's In-House Compensation Survey.

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Analysis

The Race Is On To Confirm Trump's Judges By Year-End

By Courtney Bublé

President Donald Trump nominated 11 judges this past week, meaning 19 nominees are now in the pipeline. But how many can the Senate confirm before the end of the year, given that it will mostly be absent and consumed by the midterm election? 

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Trump Admin Moves Toward Nixing ABA's Accreditor Status

By Emma Cueto

The Department of Education has made a preliminary finding that the American Bar Association is not in compliance with the department's regulations and standards as an accreditor of law schools, a move that comes as the ABA seeks to modify or repeal standards related to diversity, equity and inclusion in an attempt to preserve its accreditor status.

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Law Schools Flooded With Applicants For 3rd Straight Year

By Tracey Read

This year's U.S. law school applicant pool is up nearly 8% over 2025, with significant growth in Asian and Black prospective attorneys, according to new data from the Law School Admission Council.

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Divided 2nd Circ. Backs DQ Of Acting NDNY US Attorney

By Stewart Bishop

The Second Circuit on Friday upheld a lower court's decision that found the acting U.S. attorney for the Northern District of New York, John Sarcone III, was unlawfully serving in his position when he obtained grand jury subpoenas of the New York attorney general's office.

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Fla. Attorney Fined, Referred To Bar For Unapologetic AI Use

By Madison Arnold

A Florida attorney is the latest to be sanctioned for his use of artificial intelligence, after a Florida state appeals court found Friday that his filings contained at least 46 hallucinations.

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Wiley Data Breach Class Action Dropped As 2 Sides Confer

By Emily Sawicki

A Florida resident pursuing negligence and unjust-enrichment claims against Wiley Rein LLP over a data breach voluntarily dismissed his proposed class action on Friday while leaving the door open to refile, one day after the firm told the D.C. federal court that the two sides were "conferring" on next steps.

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Gov't To Take 9th Circ.'s Bar Of Nev. US Atty To High Court

By Madison Arnold

The U.S. government asked the Ninth Circuit to stay its ruling disqualifying Nevada's top prosecutor from assuming that role without Senate confirmation, saying it plans to take the issue to the U.S. Supreme Court.

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Trump Says Pardon Atty Ed Martin Leaving For Midterms

By Courtney Bublé

U.S. pardon attorney Ed Martin will be leaving the administration to work on the midterm elections, President Donald Trump announced on Friday.

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Judge's Job Bid Sinks Conn. Atty's Homicide Conviction

By Brian Steele

Former Cramer & Anderson LLP partner Robert L. Fisher Jr. is entitled to a new manslaughter trial because the presiding judge at his original trial "created an appearance of a lack of impartiality" when he did not disclose to the parties that he had applied for an oversight job with the state prosecutor's office, an appeals court ruled Friday.

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Roundup

Balancing The Scales: Diminished Capacity, Sentencing Rules

By Orlando Lorenzo

The Michigan Supreme Court has overturned 25 years of state precedent by reviving the diminished capacity defense, and the justices in Pennsylvania said the Legislature is out of time to craft new sentencing guidelines for second-degree murder. Here, Law360 highlights access to justice stories arising from litigation, verdicts and judgments you may have missed.

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Roundup

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

By Megan Norcott

The past week in London has seen former Liberal Democrat MP Mark Oaten sue a fur auction house, private equity and pensions magnate Edmund Truell hit by a commercial fraud claim and Charles Russell Speechlys file a contract claim against two of its previous clients in the Middle East.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

A California federal judge told Meta that its in-house attorney was absolutely wrong about what constitutes attorney-client privilege and should take an ethics course. And a bipartisan group of 128 ex-judges have asked the Florida Bar to investigate Homeland Security's general counsel for his attacks on sitting judges. 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

Eversheds Sutherland, Pillsbury Winthrop Shaw Pittman LLP and McDermott Will & Schulte lead this week's edition of Law360 Legal Lions, after Maryland's tax court held that the state's first-in-the-nation digital advertising tax violates the federal Internet Tax Freedom 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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