SEC's Atkins Promises Changes To Adviser Pay-To-Play Rule

By Jessica Corso

U.S. Securities and Exchange Commission Chairman Paul Atkins indicated Monday that his agency plans to loosen the rules around political contributions made by investment advisers, saying that current regulations present a "trap for the unwary."

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J&J Amici Seek Clarity On Goldman Precedent For Class Cert.

By Jarek Rutz

Four groups of amici have urged the U.S. Supreme Court to take up Johnson & Johnson's challenge to a Third Circuit decision allowing a securities class action over its talc products to proceed, warning the ruling could reshape how shareholder suits are litigated nationwide.

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SEC Must Give Video Of Elon Musk Interview To Oscar Winner

By Rae Ann Varona

The U.S. Securities and Exchange Commission must release a video interview of Elon Musk from its civil fraud investigation of the billionaire to a film company led by Oscar-winner Alex Gibney, a D.C. federal judge ruled Monday, saying the SEC already has publicized the interview's contents through a transcript.

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Polymarket Bars Insider Trading In Latest Rule Book Update

By Aislinn Keely

Polymarket announced Monday that it's updating its rule book to address insider trading in event contracts, explicitly barring trades on stolen confidential information, illegal tips or by those who can "influence the outcome" of a prediction market.

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Senators Push Bill To Ban Sports Bets On Prediction Markets

By Elaine Briseño

A bipartisan pair of senators are looking to shutter sports contracts on prediction market platforms such as Kalshi and Polymarket, introducing a bill Monday to clarify that these types of offerings are under the jurisdiction of state gambling laws, not the Commodity Futures Trading Commission.

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Brief

Bipartisan Bill Eyes Boosting Cannabis Business Investment

By Sam Reisman

Members of Congress have reintroduced bipartisan legislation that would create a safe harbor for state-regulated marijuana businesses to access traditional business services without threat of federal enforcement and potentially be listed on securities exchanges.

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Flagstar Seeks To Shut Down Ex-CCO's Retaliation Suit

By Katryna Perera

Flagstar asked a New York federal judge to toss a suit from one of its former compliance chiefs that claims he was wrongfully terminated for blowing the whistle on the bank's former CEO over alleged compliance violations, saying the suit attempts to "cobble together" unrelated incidents into a retaliation claim.

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BJ's Says Pension Fund Oversteps With Climate Study Ask

By Julie Manganis

BJ's Wholesale Club told a Massachusetts federal judge that it cannot be forced to poll shareholders on whether the retailer should study the effects of deforestation on its supply chains, calling it an improper attempt at "micromanagement."

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EV Co. Faraday Future Says SEC Probe Ended Without Action

By Katryna Perera

The U.S. Securities and Exchange Commission is not recommending an enforcement action against electric vehicle startup Faraday Future Intelligent Electric Inc. after years of investigation, the company has told investors.

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Day Pitney Fights DQ Over Ex-Justice's Time On Case He Heard

By Aaron Keller

Day Pitney LLP has apologized after former Connecticut Supreme Court Chief Justice Richard A. Robinson, now a firm partner, billed 15.7 hours for reviewing a since-remanded case he heard years ago as a justice, but the firm said the "error" should not disqualify its other lawyers from advancing the litigation. 

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Bankman-Fried Must Reveal Any Legal Help In Pro Se Motion

By Lauren Berg

A federal judge in Manhattan on Monday ordered incarcerated FTX founder Sam Bankman-Fried to reveal how much, if any, attorney help he had in drafting his motion for a new trial, saying criminal defendants don't have the right to both represent themselves and be represented by counsel.

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Tenn. Regulators To Challenge Kalshi Win At 6th Circ.

By Aislinn Keely

Tennessee regulators are asking the Sixth Circuit to review an order barring them from taking action against Kalshi's sports contracts, marking the latest event contract dispute to reach an appeals court.

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FINRA Fines Stash Capital For AML, Identity Theft Controls

By Sydney Price

The Financial Industry Regulatory Authority fined digital investing platform operator Stash Capital $450,000 for allegedly failing to properly review applications and detect suspicious account activity during a period of sharp customer growth.

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Federal Prosecutors Fight Bail Bid For Convicted Biotech CEO

By Jared Foretek

Federal prosecutors are fighting former CytoDyn CEO Nader Pourhassan's bid to stay free on bail while he appeals his securities fraud and insider trading convictions, arguing in Maryland federal court that the executive's arguments on appeal are little more than recycled versions of the failed claims he made in seeking a new trial.

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Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court's docket this past week featured high-stakes disputes involving major consumer brands, a reinstated video game executive, revived noncompete and compensation claims and fresh allegations of corporate misconduct in the healthcare sector.

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Revance Investors Ink $17M Deal In Take-Private Offer Suit

By Sydney Price

Dermal fillers company Revance Therapeutics Inc. and two of its executives have agreed to a $17 million settlement to end claims the company hurt investors after the value of a take-private tender offer was negotiated down following allegations that Revance had breached a distribution deal with another company.

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Semiconductor Co. Can't End Suit Over Key Witness's Reversal

By Katryna Perera

An investor's securities fraud suit accusing STMicroelectronics of failing to acknowledge pandemic-related declines in demand will proceed after a New York federal judge rejected the semiconductor manufacturer's bids for dismissal and reconsideration.

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Cosmetics Giant Coty Faces Investor Suit Over Fragrance Biz

By Emilie Ruscoe

Beauty giant Coty Inc. faces a proposed investor class action alleging the company misled investors when it said it was poised for growth only to reverse course last month and say its earlier forecast was premature.

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Oil Execs Face Fraud Claims Over Investment Tactics

By Elaine Briseño

Two oil and gas executives enticed investors to finance their venture by promising priority access to thousands of mineral acres, only to steer the deals through affiliated companies to profit themselves instead, a pair of investors have alleged.

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SEC Guidance Further Solidifies Status Of Tokenized Assets

The U.S. Securities and Exchange Commission recently released a statement that tokenized securities are securities governed by traditional securities laws, representing continued regulatory clarity and the development of expanded technical standards and risk management guidelines that can only improve the long-term viability of financial markets, say attorneys at Barnes & Thornburg.

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Agentic AI Use May Trigger Existing Consumer Finance Laws

As artificial intelligence agents interact more and more with payment systems, financial institutions should be cognizant of how existing consumer protection laws like the Equal Credit Opportunity Act apply when transactions are executed by automated systems rather than individuals, noting authorization and liability gaps, say attorneys at Sheppard.

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3 Policy Lines To Revisit After Justices Nix Emergency Tariffs

The U.S. Supreme Court's invalidation of President Donald Trump's emergency-based tariffs could expose businesses to allegations of misrepresenting tariff effects and raise the prospect of consumer actions seeking refunds — underscoring the need for policyholders to potentially reposition their insurance portfolios, say attorneys at Reed Smith.

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Labor & Employment Head Named Next Morgan Lewis Chair

By Tracey Read

Morgan Lewis & Bockius LLP announced Monday that the global leader of its labor and employment practice was unanimously elected as the firm's next chair to take over for Jami McKeon, who will retire at the end of the year.

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Social Media Atty Sanctioned For 'Most Shameful Moment'

By Craig Clough

A California judge on Monday sanctioned an attorney for the plaintiff in a bellwether trial alleging Meta Platforms and Google's social media platforms harm children's mental health, fining him $1,100 and keeping him off the plaintiffs' steering committee for violating court rules by twice filming inside the courthouse.

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NJ Judges Name US Atty In Apparent End To Leadership Fight

By Jake Maher

The New Jersey federal court on Monday appointed a career federal prosecutor to serve as U.S. attorney for the Garden State in what appears to end a lengthy standoff between district judges and the U.S. Department of Justice over leadership of the office.

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Immigration Judges To Challenge Their Firing At Fed. Circ.

By Britain Eakin

Attorneys for a pair of fired immigration judges said Monday they will ask the Federal Circuit to review a federal panel ruling that stripped them of civil service protections, warning of a dramatic expansion of presidential authority over the civil workforce.

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Reed Smith Pushes To Continue Atty Depo In NJ Bias Suit

By Jake Maher

Reed Smith LLP is urging a New Jersey state trial court to allow it to resume its deposition of a former attorney suing it for gender discrimination years after the last deposition date in the wake of an appeals court decision widely expanding the scope of discovery.

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Ramey IP Attys, Client Must Pay $107K Fees In Bad-Faith Suit

By Emily Sawicki

A San Francisco federal judge has ordered three sanctioned attorneys, including Texas intellectual property lawyer William Ramey III, together with their client, to cover $107,389 in attorney fees stemming from three identical patent suits the lawyers launched and withdrew in 2024, also ordering Ramey to show cause why he should not face further sanctions.

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Roundup

Injury Law Roundup: Meta Atty Uses Jane Doe Plaintiff's Name

By Y. Peter Kang

A Meta attorney's gaffe and Mark Zuckerberg's testimony in the closely watched social media addiction bellwether trial, and an announced $7.25 billion settlement by Bayer over Roundup weedkiller claims, lead Law360's Injury Law Roundup.

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