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Securities
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November 12, 2025
Feds Eye New Trial For MIT Brothers' $25M Crypto Theft Case
Federal prosecutors want to retry two MIT-educated brothers accused of a $25 million cryptocurrency heist next year, after a New York court declared a mistrial last week following the jury's failure to reach a unanimous verdict.
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November 12, 2025
Fintech StoneCo Investors Get First OK For $27M Settlement
Payment processing company StoneCo Ltd. and its investors have received preliminary approval from a New York federal judge of their $26.8 million settlement ending claims the company misled investors about its role in the failure of a merchant lending program it once offered in Brazil.
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November 12, 2025
SEC Atty Broke Shutdown Protocol With Subpoena, Suit Says
The U.S. Securities and Exchange Commission is facing a lawsuit in Texas federal court claiming it violated its own shutdown protocols when its Fort Worth office sought the financial records of a woman whose husband is currently under SEC investigation.
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November 12, 2025
SEC's Atkins Previews Crypto 'Taxonomy' Plans, Exemptions
U.S. Securities and Exchange Commission Chairman Paul Atkins on Wednesday pledged to "draw clear lines" about which crypto transactions the SEC doesn't regulate, but said that coming rules and exemptions for digital assets are "not a promise of lax enforcement at the SEC."
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November 12, 2025
4th Circ. Sides With Father-Son Duo In Equity Fight
A company that makes elevated stairs on Wednesday lost its appeal at the Fourth Circuit following various rulings against it in a suit it lodged against its co-founder and his son over a soured business venture involving the design of the business's sole product.
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November 12, 2025
BNP Trial Judge Rejects 'Frivolous' Witness-Coaching Claim
A Manhattan federal judge on Wednesday forcefully rejected claims that supposed witness coaching tainted a recent trial during which Sudanese refugees won a $20 million bellwether verdict against BNP Paribas for allegedly contributing to former dictator Omar al-Bashir's atrocities.
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November 12, 2025
Nasdaq Could Open Texas' 2nd Stock Exchange Next Year
Nasdaq on Wednesday announced plans to launch a Texas-based exchange in the hopes of joining a startup group that has already received permission to allow companies to publicly list in the Lone Star State next year.
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November 12, 2025
Insurer Tells Justices AMC's Share Battle Yielded No Liability
An indemnity insurer for AMC Entertainment Holdings Inc. told Delaware's justices on Wednesday that the entertainment company failed to show a covered loss when it issued shares to settle a $99.3 million claim for losses arising from a stock conversion and reverse stock split.
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November 12, 2025
Conn. Judge Won't Stop Deutsche Bank's Vik Suit In Norway
A Connecticut federal judge declined Wednesday to put an end to litigation that Deutsche Bank AG brought against billionaire Alexander Vik and his daughter in Norway, deferring instead to a state court judge who is considering the same request.
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November 12, 2025
MVP: Bernstein Litowitz's Salvatore J. Graziano
Salvatore J. Graziano of Bernstein Litowitz Berger & Grossmann LLP took the lead in defending Meta and Nvidia investors in a pair of cases that were quietly set aside by the U.S. Supreme Court last year, leaving the lawsuits intact and earning Graziano a spot as one of the 2025 Law360 Securities MVPs.
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November 12, 2025
Broker Cops To Trading On Stolen Morgan Stanley Merger Info
A stockbroker from New Jersey told a Manhattan federal judge Wednesday that he traded on secret merger information stolen by a friend from a Morgan Stanley executive assistant, pleading guilty to insider trading, obstruction and fraud charges.
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November 10, 2025
Law360 MVP Awards Go To Top Attorneys From 76 Firms
The attorneys chosen as Law360's 2025 MVPs have distinguished themselves from their peers by securing significant achievements in high-stakes litigation, complex global matters and record-breaking deals.
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November 10, 2025
SEC Accuses Ex-Fintech CEO Of $60M Fraud In SPAC Merger
Securities regulators sued the founder of Triterras Fintech in New York federal court, accusing him of misleading investors about Triterras' trade finance platform to secure a business combination with a special purpose acquisition company in November 2020, netting himself $60 million while investors suffered significant losses.
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November 10, 2025
Sen. Ag Committee Gives CFTC Crypto Oversight In Draft Bill
The U.S. Commodity Futures Trading Commission would have "exclusive jurisdiction" over so-called digital commodities under a discussion draft of legislation to regulate crypto markets released Monday by Senate Agriculture Committee Chairman John Boozman, R.-Ark., and Sen. Cory Booker, D.-N.J.
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November 10, 2025
PwC Not Liable For Bloom Energy Statements, 9th Circ. Rules
The Ninth Circuit on Monday affirmed the dismissal of claims that investors in Bloom Energy Corp. filed against PriceWaterhouseCoopers, saying that as the renewable energy company's outside accountant, PwC couldn't be held strictly liable for financial statements simply because it certified them.
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November 10, 2025
Blockchain Co. Brings Defamation Suit Against Short Seller
Blockchain-focused firm Datavault AI Inc. is suing an activist short seller for publishing a report the company said is "riddled with outright falsehoods, inflammatory accusations and cherry-picked half-truths" about an executive's past run-in with the U.S. Securities and Exchange Commission and the extent to which its blockchain is used.
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November 10, 2025
Accolade Wants 'Slip Of The Tongue' Investor Fraud Suit Axed
Accolade Inc. and its CEO have asked a New York federal judge to toss a suit alleging they made false statements about the healthcare company's profitability to prop up share prices before announcing plans to go private, saying the amended complaint is investors' "second attempt to plead a 'fraud' case based on an obvious slip of the tongue."
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November 10, 2025
Kalshi, Robinhood Beat Tribes' Bid To Block Events Contracts
A California federal judge declined to issue a preliminary injunction on Monday blocking prediction platform Kalshi and Robinhood from offering their sports event contracts that some Native American tribes allege constitute illegal gambling, saying they have not shown how the platforms are subject to a statute protecting tribal gaming.
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November 10, 2025
IRS Sets Safe Harbor For Trusts Staking Digital Assets
Investment and grantor trusts can stake their digital assets — which can generate passive income — without losing their tax benefits if they meet certain requirements, including obtaining approval from the U.S. Securities and Exchange Commission to authorize such activities, the Internal Revenue Service said in a revenue procedure Monday.
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November 10, 2025
IRhythm Denied Early Win On Investor Scienter & Loss Claims
Heart monitor maker iRhythm Technologies cannot get an early win in a proposed investor class action alleging it made misleading disclosures about one of its devices, a San Francisco federal judge has determined.
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November 10, 2025
FTC Dem Tells Justices Case Law Supports Her Reinstatement
Fired Federal Trade Commissioner Rebecca Slaughter has argued that in taking up her appeal over President Donald Trump's decision to remove her before her term was up, the U.S. Supreme Court is really mulling whether it has "gotten it wrong for the last 90 years."
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November 10, 2025
Acadia Healthcare Inks Investor Settlement Days Before Trial
Acadia Healthcare Co. Inc. and plaintiffs in a securities class action accusing the company of misleading investors about the strength of its United Kingdom operations have reached a settlement in principle, avoiding a trial that was set for later this month.
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November 10, 2025
Medtech Co-Founder Tells Chancery Father-Son Cut Him Out
A co-founder of a medtech company has sued in the Delaware Chancery Court alleging the two other co-founders, who are father and son, of engineering a covert squeeze-out aimed at stripping him of his 30% ownership stake just as the company approached a potentially lucrative fundraiser.
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November 10, 2025
ProphetX Seeks CFTC Approval For Sports Event Contracts
Sports prediction company ProphetX said Monday it has applied to the U.S. Commodity Futures Trading Commission to become a federally regulated prediction market exchange specifically targeting sports-based event contracts.
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November 10, 2025
Adobe Investors Can't Revive Suit Over $20B Figma Buy
Investors in design software giant Adobe Inc. can't revive claims that the company downplayed the threat it faced from competitor Figma Inc. before announcing a $20 billion deal to buy the rival, a Manhattan federal judge has determined, finding that the investors' new allegations regarding the company's market-size hypotheticals wouldn't have misled reasonable investors.
Expert Analysis
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Opinion
High Court, Not A Single Justice, Should Decide On Recusal
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial independence and due process for litigants, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.
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What Cross-Border Task Force Says About SEC's Priorities
The formation of the U.S. Securities and Exchange Commission's cross-border task force, focused on investigating U.S. federal securities law violations overseas, underscores Chairman Paul Atkins' prioritization of classic fraud schemes, particularly involving foreign entities, say attorneys at Cleary.
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Series
Traveling Solo Makes Me A Better Lawyer
Traveling by myself has taught me to assess risk, understand tone and stay calm in high-pressure situations, which are not only useful life skills, but the foundation of how I support my clients, says Lacey Gutierrez at Group Five Legal.
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6th Circ. FirstEnergy Ruling Protects Key Legal Privileges
The Sixth Circuit’s recent grant of mandamus relief in In re: First Energy Corp. confirms that the attorney-client privilege and work-product protections apply to internal investigation materials, ultimately advancing the public interest, say attorneys at Cooley.
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Del. Ruling Reaffirms High Bar To Plead Minority Control
The Delaware Court of Chancery's recent decision in Witmer v. Armistice maintains Delaware's strict approach to control and provides increased predictability for minority investors in their investment and corporate governance decisions, says Elena Davis at Ropes & Gray.
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Series
Law School's Missed Lessons: Client Service
Law school teaches you how to interpret the law, but it doesn't teach you some of the key ways to keeping clients satisfied, lessons that I've learned in the most unexpected of places: a book on how to be a butler, says Gregory Ramos at Armstrong Teasdale.
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How Occasional Activists Have Reshaped Proxy Fights
The sophistication and breadth of first-time activist engagement continue to shape corporate governance and strategic outcomes, as evidenced across corporate annual meetings this summer, meaning advisers should anticipate continued innovation in tactics, increased regulatory complexity, and a persistent focus on board accountability, say attorneys at MoFo.
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US-German M&A Hits Its Stride Despite Economic Headwinds
Against expectations, dealmakers in both the U.S. and Germany are actively seeking investment opportunities in each other's markets, with 2025 shaping up to be the strongest year in recent memory, say attorneys at White & Case.
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Enter The Wu-Tang Ruling That May Change Trade Secret Law
A New York federal court's recent holding that a Wu-Tang Clan album qualifies as a trade secret provides the first federal framework for analyzing trade secret claims involving assets valued primarily for exclusivity, potentially reshaping Defend Trade Secrets Act jurisprudence for the digital economy, says Jason Bradford at Jenner & Block.
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How Financial Cos. Can Prep As NYDFS Cyber Changes Loom
Financial institutions supervised by the New York State Department of Financial Services can prepare for two critical cybersecurity requirements relating to multifactor authentication and asset inventories, effective Nov. 1, by conducting gap analyses and allocating resources to high-risk assets, among other steps, say attorneys at Pillsbury.
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Opinion
Ending Quarterly Reporting Would Erode Investor Protection
President Donald Trump recently called for an end to the long-standing practice of corporate quarterly reporting, but doing so would reduce transparency, create information asymmetries, provide more opportunities for corporate fraud and risk increased stock price volatility, while not meaningfully increasing long-term investments, say attorneys at Bleichmar Fonti.
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Series
Adapting To Private Practice: 3 Tips On Finding The Right Job
After 23 years as a state and federal prosecutor, when I contemplated moving to a law firm, practicing solo or going in-house, I found there's a critical first step — deep self-reflection on what you truly want to do and where your strengths lie, says Rachael Jones at McKool Smith.
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A Look At Project Crypto's Plans For Digital Asset Regulation
U.S. Securities and Exchange Commission Chairman Paul Atkins' recent announcement of Project Crypto, an agencywide initiative to modernize federal securities regulations, signals a significant shift toward a more flexible regulatory framework that would shape the future of the U.S. digital asset market, say attorneys at WilmerHale.
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Series
Painting Makes Me A Better Lawyer
Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've brought to my legal work has been the value of originality, says Jana Gouchev at Gouchev Law.
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3 Trends From AI-Related Securities Class Action Dismissals
A review of recently dismissed securities class actions centering on artificial intelligence highlights courts' scrutiny of statements about AI's capabilities and independence, and sustained focus on issues that aren't AI-specific, say attorneys at Alston & Bird.