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Securities
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September 12, 2025
8th Circ. Pauses Challenges To Abandoned Climate Regs
The Eighth Circuit on Friday said it would wait to rule on challenges to Biden-era climate disclosure rules that the U.S. Securities and Exchange Commission has said it will no longer defend, giving the regulator time to decide what it wants to do with the rules.
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September 12, 2025
Ex-Investor Relations Exec Gets 15 Months For Inside Trades
A former managing director for LifeSci Advisors LLC was sentenced to 15 months in prison on Friday for passing confidential information about several of the investor relations firm's clients to two friends who used it to make over $500,000 in illicit profits.
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September 12, 2025
Albertsons Loses Bid For Docs On Kroger CEO's Exit
The Kroger Co. does not have to turn over documents to Albertsons Cos. Inc. concerning former Kroger CEO Rodney McMullen's abrupt exit, the Delaware Chancery Court ruled Friday, saying that personal conduct that prompted McMullen's resignation wasn't relevant to Albertsons' litigation claims over the grocery chains' failed $25 billion merger.
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September 12, 2025
UBS Can't Slip Blockchain Company's Spoofing Claims
UBS' investment banking division can't shed claims that it manipulated trading prices for a software company by means of spoofing, or placing trades it later canceled, though a Manhattan federal judge on Friday tossed the software company's allegations relating to the alleged scheme's long-term effect on its trading prices.
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September 12, 2025
SEC Seeks $160K From Ex-NFL Player For Insider Trading
The U.S. Securities and Exchange Commission said on Friday that former NFL player Jack Brewer should pay $160,000 in disgorgement, civil penalties and interest as a remedy for illegal insider trading.
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September 12, 2025
Bitcoin Miner Hut 8 Beats Some Merger Disclosure Suit Claims
A New York federal judge on Friday dismissed a majority of the claims in a suit alleging that bitcoin miner Hut 8 Corp. 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, finding that many of the challenged statements in the suit are inactionable.
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September 12, 2025
Trader Sentenced For $1M Fraud Targeting Pro Athletes
A Colorado investor accused of stealing more than $1 million from clients, including some professional athletes, was sentenced to 37 months in prison at a hearing Friday, after a Colorado federal judge appeared unmoved by the trader's mitigation attempts.
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September 12, 2025
Coinbase Suggests SEC Sanctions Over Lost Gensler Texts
Crypto exchange Coinbase is calling for possible sanctions against the U.S. Securities and Exchange Commission following recent revelations that the agency inadvertently deleted a year's worth of text messages sent and received by former Chair Gary Gensler.
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September 12, 2025
Mass. AG Says KalshiEX Running Betting Platform In Disguise
Online "prediction market" KalshiEX LLC was hit on Friday with a lawsuit by Massachusetts regulators alleging the New York-based company is running what amounts to an unlicensed sports betting platform.
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September 12, 2025
SEC Employee Traded Prohibited Crypto Stock, IG Says
The U.S. Securities and Exchange Commission's internal watchdog said on Friday that an agency employee earned more than $200,000 trading a cryptocurrency-related stock that he was prohibited from holding.
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September 12, 2025
McGinn Smith Cos. To Pay $44M To End Obama-Era SEC Suit
The U.S. Securities and Exchange Commission's long-running litigation over the McGinn Smith Ponzi scheme has wrapped up after a federal judge entered a $44.2 million judgment against entities accused of running a $125 million fraud that went bust in 2010.
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September 12, 2025
Family Of Businessman Must Face $80M Tax Scheme Claims
A theater businessman's descendants and extended family cannot avoid claims by the U.S. accusing them of knowingly engaging in an $80 million tax shelter scheme to sell their shares of the family holding company, a New York federal judge ruled, declining to toss the suit.
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September 12, 2025
Broker Wants DC Circ. View Of FINRA Constitutionality Claim
A broker-dealer representative has asked the D.C. Circuit to review a lower court's refusal to block an enforcement action against him from the Financial Industry Regulatory Authority despite his claims that the pending in-house hearing is unconstitutional under the U.S. Supreme Court's Jarkesy decision.
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September 12, 2025
Chinese Co. CEO, Adviser Charged In $100M Pump-And-Dump
An executive for a publicly traded Chinese technology company and a financial adviser were indicted Wednesday for allegedly running a complex pump-and-dump scheme that bilked more than $110 million from unwitting investors, the U.S. Department of Justice announced Friday.
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September 12, 2025
Robotics Co. Defends Accounting Errors As 'Growing Pains'
Supply chain automation company Symbotic asked a Massachusetts federal court to end a suit from an investor accusing it and its executives of hiding faulty accounting processes, saying the suit wrongly attempts to "convert a freshly public company's growing pains" into securities fraud.
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September 12, 2025
Boehringer Misused Forfeited Retirement Funds, Suit Says
Pharmaceutical giant Boehringer Ingelheim cost workers millions of dollars by using forfeited retirement plan funds to cover company contributions rather than administrative fees charged to participants, according to a proposed class action filed in Connecticut federal court.
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September 12, 2025
Quinn Emanuel's $30M Fee Bid Flouts Ch. 11, Co. Says
Israeli printed circuit maker Nano Dimension has told a Massachusetts federal judge that Quinn Emanuel Urquhart & Sullivan LLP can't claim a $30 million attorney's lien to make an "end run" around the bankruptcy of 3D printing company Desktop Metal, a former client that Nano acquired.
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September 12, 2025
Title Group Says FinCEN Erred In Rule On All-Cash Resi Deals
The American Land Title Association told a Florida federal judge that the U.S. Department of the Treasury's Financial Crimes Enforcement Network underestimated the costs and overestimated the benefits of a rule imposing new reporting requirements on all-cash residential real estate transactions.
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September 12, 2025
Calif. Court Refuses To Block Climate Reporting Rules, Again
A California federal court judge would not bar two new state climate disclosure regulations while a coalition of business groups takes its bid for an injunction up to the Ninth Circuit, saying his perspective hasn't shifted since the groups' last injunction request.
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September 11, 2025
Ex-Two Sigma Quant Rigged Models For $23M Profit, Feds Say
A former Two Sigma Investments quantitative analyst was hit Thursday with criminal charges and a civil enforcement action for allegedly manipulating the hedge fund's algorithmic models used to forecast securities performance in order to snag a $23 million payday while causing $165 million in harm to clients.
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September 11, 2025
Trump's CFTC Nominee Publicly Feuds With Winklevoss Twins
Brian Quintenz is accusing crypto exchange founders Tyler and Cameron Winklevoss of pressuring President Donald Trump to delay his nomination to lead the U.S. Commodity Futures Trading Commission, saying in a social media post that the identical 44-year-old twins were apparently unhappy that he refused to make promises about a complaint they've lodged against agency attorneys.
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September 11, 2025
Trump Wants Fed Gov. Cook Out Before Next Rate Meeting
The Trump administration asked the D.C. Circuit Thursday to halt a preliminary injunction barring the removal of Federal Reserve Gov. Lisa Cook, urging the appellate court to fast-track its decision in an effort to block Cook from participating in a meeting regarding interest rates next week.
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September 11, 2025
Capital One Sues FDIC Over $149M SVB Bailout Charge
Capital One has sued the Federal Deposit Insurance Corp. in Virginia federal court challenging a $149 million charge in a special assessment levied by the agency as part of an effort to recoup losses from the 2023 regional banking crisis, saying the FDIC improperly included certain data in its calculation of the special assessment.
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September 11, 2025
Ex-Nikola CEO Seeks To Undo Investor Class In Fraud Case
Former Nikola CEO Trevor Milton on Thursday asked an Arizona federal judge to decertify at least part of a class of investors accusing him and the company of exaggerating the viability of Nikola's technology and its business prospects, arguing the lead investors didn't identify and contact class members during discovery.
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September 11, 2025
SEC Sues Podcast Host, Others Over $82M In Securities Sales
A trio of allegedly unregistered securities brokers, including a podcaster, are facing a suit from the U.S. Securities and Exchange Commission, alleging they sold unregistered oil and gas securities at the behest of sponsors of the associated unregistered offerings, raising a combined $82 million in exchange for transaction-based compensation.
Expert Analysis
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2 Approaches To Atty Ethics Liability For Agentic AI Errors
As lawyers increasingly use autonomous artificial intelligence agents, disciplinary authorities must decide whether attorney responsibility for an AI-caused legal ethics violation is personal or supervisory, and firms must enact strong policies regarding agentic AI use and supervision, says Grace Wynn at HWG.
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Resilience Planning Is New Key To Corporate Sustainability
While the current wave of deregulation may reduce government enforcement related to climate issues, businesses still need to evaluate how climate volatility may affect their operations and create new legal risks — making the apolitical concept of resilience increasingly important for companies, says J. Michael Showalter at ArentFox Schiff.
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Parsing Trump Admin's First 6 Months Of SEC Enforcement
The U.S. Securities and Exchange Commission's enforcement results for the first six months of the Trump administration show substantially fewer new enforcement actions compared to the same period under the previous administration, but indicate a clear focus on traditional fraud schemes affecting retail investors, say attorneys at King & Spalding.
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FDA Transparency Plans Raise Investor Disclosure Red Flags
The U.S. Food and Drug Administration’s recently announced intent to publish complete response letters for unapproved drugs and devices implicates certain investor disclosure requirements under securities laws, making it necessary for life sciences and biotech companies to adopt robust controls going forward, say attorneys at Arnold & Porter.
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Series
Being A Professional Wrestler Makes Me A Better Lawyer
Pursuing my childhood dream of being a professional wrestler has taught me important legal career lessons about communication, adaptability, oral advocacy and professionalism, says Christopher Freiberg at Midwest Disability.
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SEC Rulemaking Radar: The Debut Of Atkins' 'New Day'
The U.S. Securities and Exchange Commission's regulatory flex agenda, published last week, demonstrates a clear return to appropriately tailored and mission-focused rulemaking, with potential new rules applicable to brokers, exchanges and trading, among others, say attorneys at Goodwin.
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Series
Law School's Missed Lessons: Adapting To The Age Of AI
Though law school may not have specifically taught us how to use generative artificial intelligence to help with our daily legal tasks, it did provide us the mental building blocks necessary for adapting to this new technology — and the judgment to discern what shouldn’t be automated, says Pamela Dorian at Cozen O'Connor.
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Ch. 11 Ruling Voiding $2M Litigation Funding Sends A Warning
A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a completely drawn down $2 million litigation funding agreement serves as a warning for estate administrators and funders to properly disclose the intended financing, say attorneys at Kleinberg Kaplan.
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A Changing Playbook For Fighting Records Requests In Del.
The Delaware Supreme Court's recent decision in Wong v. Amazon, reversing the denial of an inspection demand brought by a stockholder, serves as a stark warning to corporations challenging books and records requests, making clear that companies cannot defeat such demands solely by attacking the scope of their stated purpose, say attorneys at Duane Morris.
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What To Expect As Trump's 401(k) Order Materializes
Following the Trump administration’s recent executive order on 401(k) plan investments in alternative assets like cryptocurrencies and real estate, the U.S. Department of Labor and the U.S. Securities and Exchange Commission will need to answer several outstanding questions before any regulatory changes are implemented, say attorneys at Cleary.
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Demystifying The Civil Procedure Rules Amendment Process
Every year, an advisory committee receives dozens of proposals to amend the Federal Rules of Civil Procedure, most of which are never adopted — but a few pointers can help maximize the likelihood that an amendment will be adopted, says Josh Gardner at DLA Piper.
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'Solicit' Ruling Offers Proxy Advisers Compliance Relief
The D.C. Circuit recently found that proxy voting advice does not fall under the legal definition of "solicitation," significantly narrowing the U.S. Securities and Exchange Commission's regulatory power over such advisers, offering stability to the proxy advisory industry and providing temporary relief from new compliance burdens, say attorneys at Sheppard Mullin.
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Evaluating The SEC's Rising Whistleblower Denial Rate
The rising trend of U.S. Securities and Exchange Commission whistleblower award claim denials represents a departure from the SEC's previous track record and may reflect a more conservative approach to whistleblower award determinations under the current administration, say attorneys at Troutman Pepper.
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State Crypto Regs Diverge As Federal Framework Dawns
Following the Genius Act's passage, states like California, New York and Wyoming are racing to set new standards for crypto governance, creating both opportunity and risk for digital asset firms as innovation flourishes in some jurisdictions while costly friction emerges in others, say attorneys at Sheppard Mullin.
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Parenting Skills That Can Help Lawyers Thrive Professionally
As kids head back to school, the time is ripe for lawyers who are parents to consider how they can incorporate their parenting skills to build a deep, meaningful and sustainable legal practice, say attorneys at Alston & Bird.