Securities

  • September 25, 2026

    Kalshi Sports Contracts Aren't Financial Swaps, 6th Circ. Says

    In a closely watched decision that exacerbates an existing circuit split, a Sixth Circuit panel on Friday rejected Kalshi's assertion that the sports-related transactions made on its platform should be considered federally regulated swaps and not conventional betting subject to state gambling laws.

  • September 25, 2026

    F9 Sues Bed Bath & Beyond's Owner Over Canceled Deal

    The owner of Bed Bath & Beyond was sued Friday in Delaware Chancery Court by the owners of Cabinets To Go and Lumber Liquidators, who say the company publicly mischaracterized the collapse of a proposed acquisition and then used confidential due diligence materials to compete against them in the flooring and kitchen markets.

  • September 25, 2026

    SEC Says Mich. Atty Tipped Family About Pharma Co. Merger

    The U.S. Securities and Exchange Commission on Friday accused a Michigan tax lawyer of insider trading, alleging he told his brother and cousin about a planned but not-yet-announced merger between Y-mAbs Therapeutics Inc. and SERB Pharmaceuticals.

  • September 25, 2026

    CFTC Says Firm Ran $950M Global Forex Ponzi Scheme

    Investment firm Cash FX Group SA told investors their money would be used to trade retail foreign currency contracts in a commodity pool but in reality operated a $950 million multilevel marketing Ponzi scheme, the Commodity Futures Trading Commission said.

  • September 25, 2026

    Texas Judge Says Perot's VC Firm Can't Be Held To Handshake

    The Texas Business Court threw out a lawsuit brought by a Dallas businessman accusing billionaire Ross Perot Jr. of stiffing him out of his rightful equity interest in a healthcare company that sold for $2 billion, saying the businessman signed an agreement waiving his interest in the company.

  • September 25, 2026

    Ind. Panel Rejects NCAA Call To Ban Pregame Player Bets

    The Indiana Gaming Commission has unanimously rejected a request from the NCAA to ban pregame proposition bets on college players, saying the state Legislature is better suited to address the issue.

  • September 25, 2026

    SEC Says Md. Woman Illegally Traded On FDA Approval Info

    The SEC accused a Maryland resident of trading on nonpublic information she received from an insider ahead of the FDA's 2023 denial of a new drug application for a depression treatment submitted by Sage Therapeutics Inc. that caused the company's shares to lose over half of their value.

  • September 25, 2026

    Feds' Stablecoin Review Committee Rules On The Horizon

    The White House has completed its review of regulators' planned forms and procedures for reviewing and approving state-level stablecoin licensing frameworks, indicating the U.S. Treasury Department could soon circulate the rules.

  • September 25, 2026

    FDIC Orders 'Pro-America' Online Bank To Shore Up Finances

    The Federal Deposit Insurance Corp. has found Old Glory Bank, an online bank that bills itself as "pro-America" and liberty-focused, "significantly undercapitalized" and is directing it to take immediate corrective action.

  • September 25, 2026

    Southwest Investors Ask 5th Circ. To Revive 'Meltdown' Suit

    Southwest Airlines investors have asked the Fifth Circuit to revive their securities fraud suit, alleging the airline's 2022 holiday travel "meltdown" stemmed from outdated technology and a flawed flight route structure, and that they have provided enough evidence showing the company made false statements to the public.

  • September 25, 2026

    Tariffs, Not Fraud, Hurt Apparel Co.'s Finances, Court Told

    Protective apparel company Lakeland Industries Inc. asked a New York federal court to dismiss a proposed investor class action accusing it of ignoring a former finance employee's concerns about its global sales data and concealing information about its true financial condition, saying missing earnings estimates is "unfortunate" but not fraud.

  • September 25, 2026

    CFTC, Ex-HSBC Exec Set For Trial In Swap Manipulation Suit

    A New York federal judge has denied dual motions for summary judgment from the U.S. Commodity Futures Trading Commission and a former HSBC executive accused of manipulating the price of an interest rate swap ahead of a client's $2 billion bond offering, finding there are several material factual disputes about the executive's alleged conduct.

  • September 25, 2026

    Brightline Florida To Continue Operating While In Ch. 11

    Florida's Brightline rail service will continue operating during the Chapter 11 cases of its parent entities, as they pursue a restructuring of more than $1 billion of bond debt with the support of its creditors.

  • September 24, 2026

    Ex-Tricolor CEO Says Feds Botched Warrants In Fraud Case

    The former CEO of Tricolor Holdings on Thursday urged a Manhattan federal judge to bar any evidence seized from searches of his communications from being used to support accusations that he deceived lenders and investors about the subprime auto lender's assets before it crashed into bankruptcy with $1 billion in debt, saying federal agents ran roughshod over the Fourth Amendment.

  • September 24, 2026

    Fed Pitches Stablecoin Issuer Rules In Latest Genius Act Push

    The Federal Reserve Board on Thursday proposed rules to set key prudential standards and other guardrails for stablecoin issuers under its oversight, rounding out an initial phase of rulemaking at the federal banking agencies to implement the U.S. stablecoin law known as the Genius Act.

  • September 24, 2026

    Hain Investors Seek Final OK For $35M 'Channel-Stuffing' Deal

    Food and personal care company Hain Celestial and a class of investors have reached a $35 million deal to resolve channel-stuffing claims roughly a year after the Second Circuit revived the suit. 

  • September 24, 2026

    SEC Says Truck Leasing Co. Owner Ran $127M Ponzi Scheme

    The U.S. Securities and Exchange Commission on Thursday accused two trucking companies and their owner of fraudulently raising $127 million from hundreds of investors, many of which received Ponzi-like payments, with false claims about returns and the companies' fleet.

  • September 24, 2026

    CFTC Allows Tokenized Investments, Blockchain Records

    The U.S. Commodity Futures Trading Commission updated crypto guidance on Thursday to note that registrants can invest customer funds in tokenized versions of otherwise permitted investments and use blockchain tech to meet recordkeeping requirements.

  • September 24, 2026

    SEC May Preview Accredited Investor Changes Next Week

    The U.S. Securities and Exchange Commission next week plans to take a step closer to expanding the number of individuals eligible to invest in startups and other private companies, and also revisit rules around investment adviser compensation.

  • September 24, 2026

    FINRA Fines Vanguard $950K For Account Reporting Issues

    The Financial Industry Regulatory Authority has fined a Vanguard Group broker-dealer $950,000 for sending inaccurate account statements to customers who rely on those statements when filing their taxes.

  • September 24, 2026

    Maryland Judge Sends CarMax Investor's Tariff Suit to Virginia

    An investor suit accusing CarMax Inc. of mischaracterizing a sales bump prior to the Trump administration's tariffs as a sign of sustainable growth has been transferred to Virginia by a Maryland federal judge.

  • September 24, 2026

    Match Group Hit With Del. Suit Over Dating App Safety

    A Match Group Inc. stockholder has sued the dating app company in the Delaware Chancery Court for access to board records, saying it wants to investigate whether directors adequately monitored reports of sexual assault and other violence involving users of Tinder, Hinge and other Match-owned platforms.

  • September 24, 2026

    Lugano Diamonds Gets Official OK For Ch. 11 Liquidation Plan

    A Delaware bankruptcy judge Thursday confirmed Lugano Diamonds' Chapter 11 liquidation plan, after the jewelry house finalized a deal with its former CEO.

  • September 24, 2026

    $16M Coinbase Crypto Thief 'Lolimfeelingevil' Gets 12 Yrs.

    A 23-year-old Brooklyn man who drained some 100 Coinbase accounts of $16 million by posing as a representative for the cryptocurrency exchange and bragged online about his heists was sentenced in state court Wednesday to 12 years behind bars, according to prosecutors.

  • September 24, 2026

    Texas Utility Commission Looks To Quash Coal Subpoena

    The Public Utility Commission of Texas is pushing back against a subpoena issued by BlackRock in a suit from Republican state attorneys general accusing asset managers of driving up coal prices by pressuring producers to lower their output to meet emission reduction goals.

Expert Analysis

  • How Prediction Markets Could Be Used In Securities Litigation

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    Assuming there is enough liquidity, and insider trading concerns are properly addressed, prediction market prices could provide a valuable assessment of market consensus that adjusts faster than existing analysts' forecasts, which could be useful evidence to support securities class action claims, say analysts at Compass Lexecon.

  • How AI Fraud Alerts May Raise Banks' Elder Exploitation Risk

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    As banks deploy artificial intelligence fraud detection, documented alerts and review decisions may shape elder exploitation claims, discovery disputes and defenses over what institutions knew before releasing suspect payments, say Michael Gilfix and Benjamin Gicqueau at Gilfix & La Poll.

  • 9th Circ. Ruling Marks New Chapter In Risk Factor Tug-Of-War

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    The Ninth Circuit's recent dismissal of a securities fraud class action against SunPower is the latest in a growing line of cases addressing whether, if ever, a company's risk factor disclosures can give rise to potential liability, an area where the law remains unsettled, say attorneys at Alston & Bird.

  • Series

    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.

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