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Securities
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April 11, 2025
Investors Claim $43M Fraud By Miami Adviser's Firms
More than three dozen investors have sued the companies connected to a former financial adviser in Miami state court over claims of fraud, alleging he squandered nearly $43 million to enrich himself and fund a Ponzi-like scheme.
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April 11, 2025
NAPCO Directors Clear Offering Fault Claims In Investor Suit
Directors at building security systems company NAPCO Security Technologies on Friday escaped some claims from a shareholder class action over alleged COVID-19-era financial reporting errors, but the company and its underwriters are still on the hook for all the claims against them.
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April 11, 2025
SEC Taps 2 Agency Staffers For Senior Enforcement Roles
The former director of the U.S. Securities and Exchange Commission's Philadelphia office has been promoted to overseeing the agency's trial team while an adviser to acting SEC Chair Mark Uyeda has been given the role of associate director of enforcement, according to a pair of recent announcements.
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April 11, 2025
Chancery Tosses Exabeam Stockholder's Appraisal Suit
A former stockholder of cybersecurity venture Exabeam Inc. saw his suit for Court of Chancery share appraisal shot down on Friday, after a vice chancellor concluded that the suit was launched as an unsupported workaround to secure documents unavailable to him on the company's merger with LogRhythm Inc.
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April 11, 2025
Dentsply Brass Face Investor Suit Over Alleged Dental Injuries
Executives and directors of dental supply manufacturing company Dentsply Sirona Inc. have been hit with a derivative suit alleging they concealed that a company subsidiary was approving unsuitable patients for dental treatments to inflate sales figures.
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April 11, 2025
Tariff Reprieve Offers Little Comfort For Venture-Backed IPOs
President Donald Trump's move to pause most tariff threats is not reassuring venture-backed startups eyeing public listings, many of which will likely postpone initial public offerings for at least another quarter or until shaky market conditions stabilize, a new report concludes.
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April 11, 2025
SEC Takes 'Small Step' On Corporate Crypto Disclosures
A U.S. Securities and Exchange Commission division has released a statement aimed at clarifying how federal securities laws apply to some offerings and registrations in cryptocurrency asset markets, which one commissioner called "a small step in identifying relevant disclosures."
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April 11, 2025
Feds To Try Coal Exec For Bribery Despite FCPA Freeze
Federal prosecutors in Pennsylvania said Friday that they plan to proceed with a case charging a coal executive with bribing foreign officials for business, after reviewing President Donald Trump's order that paused enforcement of the Foreign Corrupt Practices Act.
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April 11, 2025
GM Execs Want Out Of Cruise Securities Fraud Suit
General Motors executives told a Michigan federal judge that they don't belong in a securities fraud class action targeting GM's self-driving vehicle unit Cruise LLC after the lawsuit's scope was narrowed to focus on Cruise leaders' statements.
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April 11, 2025
Software Co. Freshworks Scores Early Win In IPO Suit
Software company Freshworks Inc. has gotten an early win on proposed investor class action claims that it failed to disclose decelerating revenue and billings growth as it went public in 2021.
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April 11, 2025
Crypto Firm To Pay SEC Fine Over False Client Claims
Cryptocurrency firm Nova Labs Inc. has agreed to pay $200,000 to settle a U.S. Securities and Exchange Commission lawsuit claiming it falsely touted client relationships with Nestle and other large businesses in an effort to sell crypto mining devices tied to the so-called Helium network.
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April 11, 2025
Family Should Face Charges In $81M Tax Scheme, US Says
The U.S. government urged a New York federal court not to trim its complaint against the former shareholders of a family holding company accused of participating in an $81 million tax scheme, saying the family illegally avoided paying capital gains on its sale of the company.
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April 11, 2025
SEC, Ripple Put 2nd Circ. Case On Ice To Confirm Resolution
Blockchain firm Ripple Labs and the U.S. Securities and Exchange Commission told the Second Circuit to put their respective appeals on ice as they seek commission approval for an agreement to end the landmark enforcement action.
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April 11, 2025
NFT Owner Admits To Dodging Tax On Crypto Art Sales
A Pennsylvania man pled guilty to filing false tax returns and underreporting his income by $13.1 million after selling 97 nonfungible token artworks, federal prosecutors said Friday.
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April 11, 2025
Did DOJ Bless A Crypto Free-For-All? Think Again, Attys Say
The Justice Department's move to scale back cryptocurrency enforcement and dissolve its crypto fraud investigations unit isn't exactly a "get-out-of-jail-free card" for industry players who commit crimes using digital assets, experts say.
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April 11, 2025
Envestnet Sued For Docs On $4.5B Bain Capital Deal In Del.
A former trust investor in wealth and data management giant Envestnet Inc. sued in Delaware's Court of Chancery on Thursday for access to books and records on the company's $4.5 billion take-private deal with Bain Capital last year, citing concerns over both price and potential conflicts.
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April 10, 2025
2nd Circ. Says Investor Can't Join $250M Sri Lanka Bond Suit
The Second Circuit on Thursday held that a U.S.-based investor can't intervene in a lawsuit between the Sri Lankan government and Hamilton Reserve Bank over more than $250 million in foreign bonds, finding that the investor failed to show how his property interest in the bonds overlapped with the bank's claims.
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April 10, 2025
Senate Dems Press Fed's Bowman On Political Independence
President Donald Trump's pick for Federal Reserve supervision czar told senators on Thursday that the central bank should have independence to set monetary policy, but she declined to say whether its regulatory policy should be subject to White House review.
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April 10, 2025
Grayscale Settles Bitcoin Rival's Conn. Biz Interference Suit
Cryptocurrency firm Osprey Funds LLC and its larger digital asset management rival Grayscale Investments LLC have agreed to settle a lawsuit over the transition of a Grayscale bitcoin investment trust into an exchange-traded fund, or ETF.
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April 10, 2025
SEC Urged To Look At FINRA's 'Unprecedented' Review Delay
Shareholders of Entrex Carbon Market Inc. have urged the U.S. Securities and Exchange Commission to review what they say is the Financial Industry Regulatory Authority's harmful failure to act on the carbon offset trading platform's requests for a name change and approval of stock splits.
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April 10, 2025
YouTuber Defends Calling Logan Paul Crypto Project A 'Scam'
A YouTuber who called social media personality Logan Paul's failed crypto project a "scam" objected to a magistrate judge's recommendation to keep Paul's defamation claims in play, arguing the word has no objective definition.
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April 10, 2025
Nevada Can't Sue Kalshi Over Sports, Elections Betting
A Nevada federal judge has ruled that the state cannot prohibit online trading platform KalshiEx LLC from allowing users to place bets on the outcome of sports events and elections because both are currently permitted under federal law, preventing the state from pursuing legal action against the company.
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April 10, 2025
NY AG Calls For 'Common-Sense' Rules In Crypto Legislation
New York Attorney General Letitia James sent a letter to leaders of both chambers of Congress on Thursday urging them to ensure that any crypto legislation includes strong guardrails to protect consumers, national security and market stability.
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April 10, 2025
Fla. Judge Won't Revisit 'Let's Go Brandon' Coin Class Cert.
A Florida federal judge won't reconsider his partial certification of a class of purchasers of meme-inspired cryptocurrency LGBCoin in a suit alleging the price of the tokens cratered after its much-hyped plan to sponsor the coin's eponymous NASCAR driver fell apart.
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April 10, 2025
Holmes Seeks Full 9th Circ. Review Of Theranos Fraud Appeal
Convicted Theranos Inc. founder Elizabeth Holmes has asked the Ninth Circuit for en banc review of a panel's decision to affirm her criminal fraud conviction and 11-year prison sentence, saying problems with the opinion included a "time-warping relevance theory."
Expert Analysis
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What 2024's Noncompete Turmoil Means For Banks In 2025
A look back at the most significant legal challenges to the enforceability of various restrictive covenants like noncompete and nonsolicitation agreements in 2024 can help financial institutions address the use of these critical tools this year, say attorneys at Maynard Nexsen.
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Opinion
3 New Year's Resolutions For Antitrust Agencies To Consider
James Fredricks at Skadden rings in 2025 with his wish list for the federal antitrust agencies, starting with a provision for a presumptive safe harbor for information sharing.
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New Year, New Risks: 8 Top Cyber Issues For Finance In 2025
As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.
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FTC Focus: A Changing Of The Guard
While rigorous antitrust enforcement is unlikely to slow down at the Federal Trade Commission, the focus will undoubtedly change, including when it comes to Big Tech, as Andrew Ferguson prepares to take the reins from Chair Lina Khan, say attorneys at Proskauer.
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5th Circ.'s Nasdaq Ruling Another Piece In DEI Policy Puzzle
The Fifth Circuit's recent en banc opinion vacating Nasdaq's board diversity listing rule wades into the hotly debated topic of diversity, equity and inclusion initiatives at a time when many public companies are navigating the attention that DEI commitments are drawing from activists and shareholders, say attorneys at Debevoise.
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8 Trends And Predictions Following PE's Late 2024 Surge
Private equity will remain at the forefront of value creation in 2025, and anticipated market trends include sponsors' desire to return capital to investors and a more business-friendly tack by the Antitrust Division of the U.S. Department of Justice, say attorneys at Weil.
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Series
Playing Esports Makes Me A Better Lawyer
Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
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Lessons From The SEC's 2024 Crackdown On AI Washing
AI washing was the subject of increased scrutiny from the U.S. Securities and Exchange Commission in 2024 following a surge in the commercial adoption of generative artificial intelligence technologies in 2023, highlighting the importance of transparency, accuracy and accountability when communicating about AI, say attorneys at Perkins Coie.
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The 6 Most Significant FCRA Litigation Developments Of 2024
From a key sovereign immunity decision at the U.S. Supreme Court to a ruling on creditworthiness out of the Seventh Circuit, several important Fair Credit Reporting Act cases wound their way through the courts in 2024, each offering takeaways for both plaintiffs and defendants, say attorneys at Shipkevich.
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The Securities Litigation Trends That Will Matter Most In 2025
2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.
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An Associate's Guide To Career Development In 2025
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
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Predicting The Lasting Changes CFPB May Face In 2025
President-elect Donald Trump and the incoming Republican-controlled Congress' likely attempts to reshape the Consumer Financial Protection Bureau could significantly alter its rulemaking, supervisory and enforcement abilities for years to come, says Jim Sandy at McGlinchey Stafford.
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What To Watch For In The 2025 Benefits Landscape
While planning for 2025, retirement plan sponsors and service providers should set their focus on phased implementation deadlines under both Secure 1.0 and 2.0, an upcoming U.S. Supreme Court ruling, and the fate of several U.S. Department of Labor regulations, says Allie Itami at Lathrop GPM.
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How White Collar Enforcement May Shift In Trump's 2nd Term
After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.
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COP29 Offers Pathway To A Global Carbon Market
COP29, the recently concluded United Nations climate conference, represented a breakthrough in the establishment of standards for a global carbon market — and voluntary carbon market participants in the U.S. and elsewhere can enhance the value of their projects by aligning them with these standards, say attorneys at Morgan Lewis.