Securities

  • July 14, 2026

    SEC Case Alleging Misvalued Funds Trimmed By Ill. Judge

    An Illinois federal judge has trimmed claims in a long-running U.S. Securities and Exchange Commission suit accusing a fund adviser of misleading investors about the performance of some of the funds it oversaw, finding that the agency didn't provide evidence that the adviser intentionally made misstatements about the funds' compliance with accounting standards.

  • July 14, 2026

    Conn. Judge Rejects Kalshi Bid To Cite CFTC's League Deals

    A Connecticut federal judge has rejected Kalshi's bid to consider the U.S. Commodity Futures Trading Commission's collaboration with Major League Baseball and other leagues within the company's suit against the state's efforts to crack down on prediction market platforms.

  • July 13, 2026

    Portofino Says Citadel Used Dismissal To Fuel Press Campaign

    Portofino Technologies has accused Citadel Securities of using its decision to drop its trade secrets lawsuit against the Swiss cryptocurrency trading firm as an opportunity to drum up bad press about Portofino, and papering over the fact that an $8 million judgment it won in the dispute is a "pyrrhic victory."

  • July 13, 2026

    Defense Gears Up To Fight Polymarket Insider Trading Case

    Counsel for a former Google software engineer accused of raking in over $1.2 million by leveraging the tech giant's confidential information to place bets on Polymarket told a Manhattan federal judge Monday about a number of defenses they are considering to fight the novel allegations of prediction market-based insider trading.

  • July 13, 2026

    BlackRock's Mutual Fund Accounting Inflated Fees, Suit Says

    Asset manager BlackRock Inc.'s accounting practices artificially inflated the values of more than 70 of its mutual funds, saddling investors with higher management fees and cutting into the dividends they might have collected, according to a proposed class action lodged Monday in New York state court.

  • July 13, 2026

    Wells Fargo's $50M Deal In Atty's Ponzi Scheme Gets 1st OK

    Wells Fargo will pay $50 million to settle a proposed class action alleging it knowingly helped a Las Vegas attorney run a multimillion-dollar Ponzi scheme deceiving investor victims into fronting money for borrowers awaiting personal injury settlement payouts, according to a preliminary approval order issued in Nevada federal court.

  • July 13, 2026

    Robinhood Fights Wisconsin's Bid To Block Sports Betting

    Robinhood has asked a Wisconsin federal judge to deny the state's bid to shut down sports betting offered through Robinhood's app and other online trading platforms, including Kalshi and Coinbase, arguing that the state's suit seeks to bypass the exclusivity of federal law governing such trading.

  • July 13, 2026

    Custodia Urges Justices To Take Up Fed Master Account Fight

    Crypto-focused Custodia Bank is asking the U.S. Supreme Court to take up its challenge of a Tenth Circuit ruling that backed Federal Reserve banks' discretion to deny master accounts to otherwise eligible banks, arguing the decision empowers unappointed regional bank presidents to deny "disfavored" banks access to critical payment services.

  • July 13, 2026

    SEC Asked To Reopen Reporting Proposal After Email 'Error'

    Better Markets is asking the U.S. Securities and Exchange Commission to reopen the comment period for its semiannual reporting proposal after the agency allegedly directed prospective commenters to an incorrect email address, but an agency spokesperson said Monday the email address listed on the proposal was working.

  • July 13, 2026

    SEC Says Crypto Service Agreement Is Investment Contract

    The U.S. Securities and Exchange Commission has asked a Texas federal judge to find that service agreements offered by two crypto mining fraudsters count as investment contracts, and thus securities, saying the court should grant judgment as a matter of law.

  • July 13, 2026

    Wahlberg-Backed Gym Co. Inks $10.5M Investor Settlement

    A fitness franchise associated with the actor Mark Wahlberg has agreed to pay $10.5 million to exit a class action accusing it of misleading investors about its growth potential ahead of its initial public offering, according to papers filed in a Texas federal court.

  • July 13, 2026

    Adani Must Swear No Deal Prompted DOJ Dismissal Bid

    Apparent concerns about a potential quid pro quo have prompted a New York federal judge to order Indian billionaire Gautam Adani to state in an affidavit whether he "promised" anything to the government in exchange for the U.S. Department of Justice moving to dismiss criminal charges against him.

  • July 13, 2026

    NC Co.'s $9.8M Indemnity Payment Not Covered, Insurers Say

    A building products manufacturer is not entitled to coverage after reimbursing its financial adviser $9.8 million for defense and settlement costs incurred in litigation over a take-private transaction, the company's excess directors and officers insurers told a North Carolina federal court.

  • July 13, 2026

    Assertio Beats Investor Suit Over Drug, Merger Claims

    An Illinois federal judge Friday dismissed a proposed investor class action claiming Assertio misled shareholders about threats to sales of its arthritis drug Indocin, saying the company's public filings explicitly and repeatedly warned that the drug lacked patent protection and faced imminent generic competition at any time.

  • July 13, 2026

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court last week handled disputes involving corporate control, post-closing competition, executive departures, arbitration awards and shareholder litigation.

  • July 13, 2026

    Frontier Will Pay $14M To End 401(k) Telecom Stocks Fight

    Frontier Communications Corp. has agreed to fork over approximately $14 million to end a proposed class action claiming its employee 401(k) plan was improperly overinvested in Verizon Wireless and other telecommunications stocks, according to a filing in Connecticut federal court.

  • July 10, 2026

    Intuit Hid True Status Of TurboTax Business, Investor Alleges

    Intuit touted a "momentum" across its businesses while hiding that its TurboTax business was, in reality, poorly performing, an investor alleged in a proposed class action filed Friday in California federal court that also accuses the financial software company's CEO of fraudulently enriching himself by more than $36 million.

  • July 10, 2026

    Fugitive Trader's Wife Must Pay For Divorce Asset Fight

    The sanctioned wife of a fugitive Oak Management Corp. trader must pay more than $23,000 to offset expenses a receiver racked up while challenging a divorce agreement that could have siphoned money away from the victims of a $67 million fraud scheme, a Connecticut federal judge concluded on Friday.

  • July 10, 2026

    Crypto Firms Urge CFTC To Tailor Rules, CME Urges Caution

    Cryptocurrency industry groups and firms are urging the U.S. Commodity Futures Trading Commission to make regulatory tweaks to ensure blockchain-based financial products aren't burdened by unsuitable requirements of traditional registration categories, while some traditional finance players told the agency to tread carefully as it considers deregulation for fintech businesses.

  • July 10, 2026

    Del. Justices Nix $16M Fee Award In SpaceX Investment Fight

    The Delaware Supreme Court on Friday erased a $16 million fee award stemming from a dispute over a fund manager's handling of a failed $50 million SpaceX investment, concluding that although the fund manager committed a limited breach of a "duty of candor," shifting all litigation expenses to him was unwarranted.

  • July 10, 2026

    Hut 8's $2.3M Investor Deal Wins Initial Approval In NY

    A New York federal judge has granted the first green light to a $2.3 million settlement reached between Hut 8 Corp. and investors, which will resolve claims that the bitcoin miner overpaid for a company with severe operational issues and misled investors about energy and connectivity failures at a Texas facility that was part of the merger.

  • July 10, 2026

    Five Below Growth Strategy Sank Stock Price, Investors Say

    Five Below investors have filed a shareholder lawsuit against the company's leadership alleging their merchandising strategy caused the retailer's stock to plummet, squarely rejecting the notion that the chain's losses were due to an industrywide shoplifting problem.

  • July 10, 2026

    4 Benefits Policy Issues To Watch In 2026's 2nd Half

    The U.S. Department of Labor's work to finalize a 401(k) investment selection safe harbor and plans for a new mental health parity rule are among the top employee benefits policy issues that attorneys are watching for in the latter half of 2026. Here, Law360 looks at four that practitioners say they're keeping an eye on.

  • July 10, 2026

    Judge Says $57M Asset Freeze Skips 8 In Chapter 7 Clawback

    A Connecticut federal judge clarified that her recent ruling putting a hold on $57.4 million in clawback litigation from the Chapter 7 trustee of pump manufacturer The Nash Engineering Co. does not apply to eight defendants who were not initially served notice of a prejudgment remedy motion.

  • July 10, 2026

    Investors Call Boeing's 7th Circ. Class Cert. Appeal Premature

    Investors urged the Seventh Circuit on Friday to dismiss as improvidently granted Boeing's interlocutory challenge to an Illinois district court's class certification order in litigation alleging Boeing misrepresented the 737 Max 8 jets' safety after two deadly crashes in 2018 and 2019.

Expert Analysis

  • Del. Dispatch: The New 'Director Independence' Definition

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    The Delaware Court of Chancery's recent decision in Ayers v. Foley, its first interpretation and application of "director independence" as outlined in Section 144 of the Delaware General Corporation Law, suggests that the court will not limit the new section's reach, say attorneys at Fried Frank.

  • How Nixing Trade-Through Rule Would Alter Equity Markets

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    The U.S. Securities and Exchange Commission's recent proposal to rescind the trade-through rule and the locked-and-crossed-markets prohibition represents one of the most significant potential changes to U.S. equity market structure in two decades, affecting exchanges, broker-dealers, and institutional and retail investors alike, say attorneys at WilmerHale.

  • 2 AI Washing Rulings Apply Familiar Securities Fraud Rules

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    Two recent federal court decisions to allow AI washing complaints to proceed begin to clarify the line between nonactionable optimism and actionable misstatements by framing the core issue as not overstating the promise of artificial intelligence, but misrepresenting the current state of a company's products, say attorneys at WilmerHale.

  • The Nuance Between The Atkins, Gensler SEC Strategic Plans

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    U.S. Securities and Exchange Commission Chairman Paul Atkins' recent draft strategic plan is a marked departure from that of former Chair Gary Gensler, portraying an intention to leave decisions to the market rather than steering corporate behavior through expansive disclosure mandates and regulatory enforcement, say attorneys at Cleary.

  • Future Of Fed Independence Shaky After Justices' Ruling

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    The U.S. Supreme Court's recent ruling in Trump v. Cook preserved the Federal Reserve's formal independence but could invite the president to remove board members with just modest protections, leaving the central bank's autonomy uncertain and potentially setting up fresh clashes over other agencies, says Steven Schwinn at the University of Chicago.

  • Series

    Mich. Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter brought several notable financial services law developments to Michigan, including a U.S. Supreme Court ruling on state tax foreclosures, progress on a money transmission modernization bill package, and continued legislative momentum on cryptocurrency and mortgage lending, say attorneys at Dykema.

  • AI Governance Tips For Avoiding Securities Suits

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    A recent securities class action in California federal court against lending platform Upstart highlights how statements about artificial intelligence are increasingly being scrutinized not only by regulators, but also by shareholders, meaning companies should ensure oversight frameworks keep pace with the technology, say attorneys at Akerman.

  • Series

    Bass Fishing Makes Me A Better Lawyer

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    Landing a trophy striped bass and closing a big deal both require cultivating the patience to finesse — not force — your way to desired outcomes, changing course when your old approach isn’t working and learning from the ones that got away, says Jon Ruiss at Alston & Bird.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q2

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    The year's second quarter brought several notable banking law developments to New York, including a proposal to align state stablecoin rules with the federal Genius Act, fresh fair lending and cybersecurity guidance from state regulators, and a significant Second Circuit holding on preemption, say attorneys at Ashurst Perkins Coie.

  • How Rated Note Feeders Help Insurers Tap Private Credit

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    With insurer investments comprising nearly a third of the private credit market, rated note feeders offer insurers a compelling way to access private credit yields through debt instruments by balancing key features of debt investment with the structural and economic profiles of private credit funds, say attorneys at Akin.

  • How Reincorporating In Texas May Alter Earnout Disputes

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    While the DExit debate has focused on shareholder suits, far less attention has been paid to what reincorporating in Texas means for M&A disputes, making it particularly important to understand the nuances between Delaware and Texas earnout jurisprudence, say attorneys at Selendy Gay.

  • Roundup

    The Most Talked-About Supreme Court Decisions Of 2026

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    This term, 11 U.S. Supreme Court decisions quickly became hot topics among Law360's guest writers.

  • Texas Business Court Rulings Show Deal Terms Paramount

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    As the courts within the Texas Business Court system have begun reaching the substantive merits of the cases before them, they are persuasively demonstrating they will not only enforce the terms of transactions as written, but will also embrace a holistic approach to complex transaction documentation interpretation, says Christopher Pace at Winston Taylor.

  • Agentic AI And Securities Law: Who Is The Adviser?

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    Securities regulation has always been actor-based, but as agentic artificial intelligence becomes more common, it will push the law toward a partially system-based framework in which systems themselves, and the relationships between them and their deployers, are the focus of regulatory attention, says Joseph A. Hall at Davis Polk.

  • Why SEC Climate Rule Rescission Wouldn't End Disclosure

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    If the U.S. Securities and Exchange Commission's recent proposal to rescind its 2024 climate-related disclosure rules is adopted, companies would no longer need to prepare for the rules' specific governance, emissions, attestation, financial statement and tagging requirements, but several important constraints would remain, say attorneys at Venable.

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