Securities

  • October 02, 2026

    4 Argument Sessions Benefits Attys Should Watch In October

    Former Intel workers' bid to convince the U.S. Supreme Court to revive their suit alleging shoddy retirement plan investments tops the list of oral arguments slated for October that benefits attorneys may want to keep an eye on. Here's a look at that case and three others teed up for argument this month.

  • October 01, 2026

    Kraft Wheat Traders Lose Class Status, Keep Antitrust Claim

    Kraft Foods has convinced a Chicago federal judge to decertify two classes of investors and toss most of their decade-old claims accusing the food conglomerate and its snack food spinoff of manipulating wheat market commodities, but a jury will have to decide if it ran afoul of antitrust law.

  • October 01, 2026

    Novartis Can't Dodge Hedge Fund Trade Secrets Suit

    A New York federal judge has denied Novartis' bid to toss an investment management firm's lawsuit accusing the pharmaceutical company and others of helping the firm's former chief investment officer steal confidential investment strategies to launch a rival hedge fund, saying the firm's trade secret claims had enough detail to withstand dismissal.

  • October 01, 2026

    Uranium Finance Jury Sees 'I Did A Crypto Heist' Chat

    A federal jury in Manhattan was shown chat threads Thursday that purport to show a cybersecurity consultant saying "I did a crypto heist," in a computer fraud and money laundering trial over what prosecutors say was a short-lived hacking campaign that drained $53 million from crypto exchange Uranium Finance.

  • October 01, 2026

    SEC Fines Ex-NFL Player, Influencers Over 'White-Label' Firms

    The U.S. Securities and Exchange Commission has levied industry bars and a total of nearly $600,000 in fines on seven people, including a former professional football player, for allegedly acting as unregistered brokers by operating and marketing white-label platforms purchased from a third party for trading in so-called contracts for differences.

  • October 01, 2026

    SEC Floats Crypto Custody Rule Updates For Funds, Advisers

    The U.S. Securities and Exchange Commission on Thursday proposed updates to custody rules that would allow investment advisers and funds to hold clients' crypto with state trust companies or safeguard the assets themselves if they can't find a suitable custodian.

  • October 01, 2026

    $16B Ruling Faces High Court Sovereign Immunity Challenge

    The U.S. Supreme Court is being asked to review an "egregiously wrong" Second Circuit decision that overturned a New York judge's $16 billion judgment against Argentina that arose from its nationalization of YPF SA, the country's largest oil and gas exploration company.

  • October 01, 2026

    Timeshare Co. To Pay SEC Nearly $1M Over Loan Disclosures

    The U.S. Securities and Exchange Commission has announced that timeshare company Travel + Leisure Co. will pay $975,000 to settle the agency's claims in Florida federal court alleging its financial disclosures omitted information regarding nearly 3,000 delinquent or defaulted loans that it rescinded, which may have misled investors about the health of the business.

  • October 01, 2026

    SEC Changes Quorum Requirements As Peirce Exits

    The U.S. Securities and Exchange Commission has changed its quorum requirements for the first time in 30 years, clarifying that only one member of the agency needs to vote on enforcement and regulatory matters as Commissioner Hester Peirce prepares to leave Friday. 

  • October 01, 2026

    Super Micro Fraud Suit Dismissed Over Vague Allegations

    Super Micro Computer has beaten, for now, a shareholder suit accusing it of violating a previous settlement with the U.S. Securities and Exchange Commission over accounting improprieties, with a California federal judge finding the allegations vague and lacking specificity.

  • October 01, 2026

    Ex-SewerAI Shareholder Seeks Del. Appraisal Of $342M Deal

    A former SewerAI Corp. stockholder has asked the Delaware Court of Chancery to determine the fair value of more than 245,000 shares that were cashed out when the sewer technology company was acquired in a deal valuing it at $342 million.

  • October 01, 2026

    NY, Wyo. To Collaborate For Faster Crypto Reviews, Exams

    Financial regulators in New York and Wyoming on Thursday said they have agreed to collaborate on crypto oversight in ways that could cut down on duplicative review processes and exams for fintechs operating in both states.

  • October 01, 2026

    Merrill Lynch To Pay $39M Over Retirement Cash Sweep Rates

    Bank of America's Merrill Lynch unit has reached a $39 million settlement with account holders in a suit alleging the wealth management division swept idle funds in customers' retirement accounts into low-interest accounts instead of paying the proper market interest rates.

  • October 01, 2026

    SEC Can Pursue $21M Pot Co. Stock Fraud Suit, Judge Rules

    A New York federal judge ruled that the U.S. Securities and Exchange Commission credibly tied an Arizona man to a cannabis company accused of running an illegal pump-and-dump scheme, rejecting his bid to toss a suit claiming he unlawfully pocketed $10 million through the operation.

  • October 01, 2026

    SEC Says Adviser Took $1.2M From Pre-IPO Investment Funds

    The U.S. Securities and Exchange Commission accused a New York-based private fund adviser and its CEO of misappropriating over $1.2 million of client funds intended for investments in shares of businesses that had not yet undertaken initial public offerings, including technology companies like OpenAI and now-public SpaceX.

  • October 01, 2026

    Kalshi Looks To Shield Sports Offerings At 2nd Circ.

    Prediction market giant Kalshi has asked the Second Circuit to shield its sports offerings from Connecticut gaming enforcers, drilling down on its position that those offerings ought to be immune from state scrutiny.

  • October 01, 2026

    Exit Interview: SEC's Hester Peirce On Crypto, Clarity And AI

    Outgoing U.S. Securities and Exchange Commissioner Hester Peirce doesn't mind being referred to as "Crypto Mom" for her work championing the industry, but she thinks investors should know: "The government is never your mom."

  • October 01, 2026

    Tech Co. AdHawk's Investors Sue Over $15M Merger Earnout

    Two shareholders of adHawk Inc. have sued the flooring software company's former directors and officers in Delaware Chancery Court, accusing the insiders of diverting $15 million from a roughly $159 million sale to Cyncly and giving themselves access to equity in the buyer that other stockholders were denied.

  • October 01, 2026

    Trump Announces Judicial Noms For 5th Circ., NC

    President Donald Trump announced Thursday that he's nominating Todd Butler, a managing partner at Phelps Dunbar LLP, to serve as a judge on the Fifth Circuit. 

  • October 01, 2026

    DOJ Outlines New Corporate Fraud Enforcement Priorities

    Federal prosecutors "must place great weight" on a new list of factors when considering potential charges in corporate fraud cases, including whether the matters involve government programs, threats to national security or immigration offenses, according to a memo released Thursday by the U.S. Department of Justice.

  • September 30, 2026

    Fed HQ Review Finds Cost-Control Failures, No Crimes

    A Federal Reserve watchdog said Wednesday that it has found no potential criminal violations tied to overbudget renovations of the central bank's headquarters, a more than $2 billion overhaul that became a focus of White House attacks on former Fed Chair Jerome Powell.

  • September 30, 2026

    Parler Ex-CEO Makes Final Trial Pitch For $100M Damages

    The former CEO of social media site Parler made his final argument Wednesday that he was wrongly stripped of a stake worth up to $100 million, with his lawyer telling a Nevada jury a valuation finding the entire company worth $10.81 was "bunk."

  • September 30, 2026

    Ex-Verint Directors Sued Over Allegedly Undervalued Sale

    A former shareholder of customer service software company Verint Systems Inc. has accused several of the company's former directors of allowing shareholders to approve an undervalued sale of the company to private equity firm Thoma Bravo last year.

  • September 30, 2026

    Crypto Project Argentina Pres. Promoted Ducks RICO Claims

    A New York federal judge has permanently dismissed a proposed class action against the operators and promoters of a cryptocurrency project touted by Argentinian President Javier Milei, finding the investors failed to plausibly plead that the defendants conspired to defraud them.

  • September 30, 2026

    3rd Circ. Topples Materiality Rule For Securities Suits

    The Third Circuit on Wednesday revived a securities fraud class action against pharmaceutical company Ocugen Inc., scrapping a decades-old circuit rule that treated a stock price's failure to move after a corrective disclosure as conclusive proof that an alleged misstatement was immaterial.

Expert Analysis

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    Law School's Missed Lessons: Cultivating Good Judgment

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    Law schools generally overlook the role that solid judgment skills play in real-world practice, but attorneys can bridge the gap by strengthening their abilities to assess a case’s strengths and weaknesses, develop and execute effective strategies, and provide clear recommendations to clients, says Manny Caixeiro at Venable.

  • DOJ Letter Rescission Portends Proxy Firm Antitrust Risk

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    The U.S. Justice Department's recent withdrawal of its 1987 business review letter issued to Institutional Shareholder Services, which shielded certain proxy advisory activities from anticompetitive enforcement, likely foreshadows renewed antitrust scrutiny of proxy advisory firms, say attorneys at Paul Weiss.

  • New Del. Corp. Law's Technical Tweaks Bring Broad Changes

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    While the new amendments to the Delaware General Corporation Law, which took effect on Aug. 1, appear technical, they have broad implications for wound-down corporations and carry personal exposure for whoever signed the certificate of dissolution, hinting at where entity law is heading next, says Ashwin Ram at Buchalter.

  • A Lender's Guide To Fraud: Safeguarding Collateral

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    Recent bankruptcies illustrate that lenders should strengthen credit covenants, collateral field exams and third-party verification in order to detect double-pledging, fabricated assets and documentation fraud enabled by artificial intelligence before losses become unrecoverable, say attorneys at Moore & Van Allen.

  • Money Transmission Issue Looms For Prediction Markets

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    The circuit split recently created by the Ninth Circuit's ruling in Kalshi v. Assad has implications reaching beyond gaming regulation as, depending on the ultimate characterization of prediction market event contracts, platforms may face differing obligations under federal and state money transmission laws, say attorneys at Manatt.

  • AI And AML: Governance Plays Critical Role In Innovation

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    Financial institutions adopting artificial intelligence for anti-money laundering compliance should implement governance specific to individual use cases, testing, documentation and human oversight to manage regulatory and enforcement risks as agentic tools expand, say attorneys at Paul Hastings.

  • Del. Ruling Emphasizes High Bar To Pleading A Control Group

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    The Delaware Court of Chancery's recent decision in Le Clair v. KnowBe4 illustrates the high burden to which courts hold plaintiffs trying to establish a control group, as well as the continued power of an informed stockholder vote, say attorneys at Sidley.

  • Attorneys Using AI May Have Ethical Duty To Redact Docs

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    The trajectory of legal ethics guidance in recent years strongly suggests that as redaction technology becomes more accessible, the failure to use it when uploading highly confidential materials into artificial intelligence tools will become increasingly difficult to defend as reasonable, say attorneys at Lewis Brisbois.

  • Compliance Lessons From Agriculture Co. Mexican Bribe DPA

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    Agricultural company Scoular’s recently announced deferred prosecution agreement over alleged Foreign Corrupt Practices Act violations at the U.S.-Mexico border reinforces the U.S. Department of Justice’s focus on cartels, and companies must accordingly ensure they address risks associated with the use of customs brokers, says Adam Safwat at Foley Hoag.

  • Assessing The Early Days Of Woodcock's SEC Tenure

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    Since David Woodcock took over the U.S. Securities and Exchange Commission's Division of Enforcement four months ago, the division has pursued a scaled-back caseload centered on fraud and manipulative conduct, largely following the enforcement outlook that emerged under SEC Chairman Paul Atkins, say attorneys at Akerman.

  • Voyager Ruling Maps Out Ch. 11 Exculpation Lessons

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    Chapter 11 plan proponents drafting exculpation provisions may benefit from contrasting the exculpatory language recently invalidated by a New York federal court in the Voyager Digital Holdings case with successful recent use of these provisions in confirmed bankruptcy plans, say attorneys at Debevoise.

  • Series

    Juggling And Unicycling Make Me A Better Lawyer

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    Because I juggle (sometimes with fire) and ride the unicycle, friends and family used to joke that I should join the circus, but I pursued the practice of law instead and learned that my hobbies benefit my profession in several important ways, says Morgan Eddy at Smith Currie.

  • 2nd Circ. Ruling Lays Out Administrative Right-Of-Access Blueprint

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    In Civil Rights Corps v. LaSalle, the Second Circuit recently held that the First Amendment dictates a presumptive right of access to sealed attorney grievance proceedings, providing a framework for challenging other administrative regimes that operate behind closed doors, says Jonathan Ginsberg at Carlton Fields.

  • How 'Swap' Fight Underpins Prediction Market Enforcement

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    As courts around the country grapple with whether, and under what circumstances, event contracts qualify as swaps, federal enforcement authority hangs in the balance, with implications for companies that need to manage compliance risks during this period of legal uncertainty, say attorneys at Debevoise.

  • SEC's Adit Case Maps 5 Fault Lines In Pre-IPO Funds

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    The U.S. Securities and Exchange Commission's recent case brought against Adit Ventures Management offers fund counsel, limited partners and private market intermediaries a useful example of where a pre-initial public offering vehicle can fail, and how familiar fiduciary and anti-fraud principles apply, says Ben Dubin at VC Expert Services.

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