Securities

  • July 08, 2026

    SEC's $1.5M Musk Deal OK'd Despite Court's 'Misgivings'

    Despite having "significant misgivings" about the U.S. Securities and Exchange Commission's $1.5 million settlement over Elon Musk's initial purchase of Twitter stock in 2022, a D.C. federal judge signed off on the parties' resolution Wednesday.

  • July 08, 2026

    AstraZeneca Employee Traded On Icosavax Deal, SEC Says

    The U.S. Securities and Exchange Commission on Wednesday accused a former AstraZeneca Pharmaceuticals LP employee of using nonpublic information to trade ahead of the company's $1.1 billion acquisition of vaccine design company Icosavax Inc., yielding approximately $10,000 in illicit gains.

  • July 08, 2026

    Seagate's $175M Investor Deal Over Illegal Sales Gets First OK

    A California federal judge has preliminarily approved a $175 million deal between data storage company Seagate Technologies and its investors to end claims that the company misrepresented that it could sell products to a blacklisted Chinese company.

  • July 08, 2026

    NY Kalshi Ruling Should Inform Conn. Cases, AG Says

    A New York federal judge's denial of Kalshi's push to block the state from regulating sports-related offerings on its prediction market platform should inform litigation the company and Coinbase have brought against Connecticut, the Connecticut Office of the Attorney General has said.

  • July 08, 2026

    Citadel Securities Drops Portofino Suit To Chase UK Judgment

    Citadel Securities has dropped its New York trade secrets lawsuit targeting a Swiss cryptocurrency trading firm launched by two ex-employees in order to focus on enforcing a roughly £6 million ($8 million) judgment it's already won in the dispute, according to documents filed Wednesday.

  • July 08, 2026

    Judge Sides With Under Armour In Repayment Interest Fight

    A Maryland federal court has ruled that Under Armour Inc. doesn't need to pay eight excess insurers prejudgment interest over its return of $90 million in advanced coverage for defense costs, following a Fourth Circuit reversal in their directors and officers coverage fight.

  • July 08, 2026

    AXT Beats Suit Over Subsidiary IPO Risk Disclosures For Now

    A California federal judge has tossed a suit alleging AXT Inc. and two of its executives misled investors about risks with a planned initial public offering of its Chinese subsidiary, finding the suit fails to plead adequately that the executives acted with knowledge of wrongdoing or that the alleged corrective disclosure caused AXT's stock price to drop.

  • July 08, 2026

    Del. Judge Recuses Herself From Apollo $570M Payout Suit

    The Delaware vice chancellor presiding over litigation regarding a $570 million payout to Apollo Global Management Inc. insiders has disqualified herself from the case after a possible conflict of interest arose due to her former role as an attorney with Skadden Arps Slate Meagher & Flom LLP, which was involved in a merger with ties to the payout.

  • July 08, 2026

    States Warn SEC Of Semiannual Reporting Fraud Concerns

    State securities regulators have joined investors and asset managers in urging the U.S. Securities and Exchange Commission not to adopt a semiannual reporting structure, arguing the move away from quarterly reporting by publicly traded companies could lead to more insider trading and accounting fraud.

  • July 08, 2026

    Lenders Left Out Of Serta Uptier Deal Win $400M In Ch. 11 Suit

    Creditors that were excluded from Serta Simmons' so-called uptier debt restructuring are entitled to $261 million in damages plus interest, a Texas bankruptcy court has found, ruling against lenders that participated in the 2020 transaction.

  • July 08, 2026

    Day Pitney Can't Be Cut Off From New Counsel, Client Says

    A former Connecticut chief justice's ethics gaffe cannot preclude fellow lawyers at Day Pitney LLP from communicating with new counsel for John B. Clinton, a private equity management firm owner locked in a 13-year-old, $1.3 million corporate windup lawsuit, Clinton has urged a Connecticut state court judge to conclude.

  • July 08, 2026

    K&L Gates Adds Ex-CFTC Chief Counsel From Willkie Farr

    K&L Gates LLP has brought on a Willkie Farr & Gallagher LLP attorney who is a former chief counsel to ex-Commodity Futures Trading Commissioner Kristin N. Johnson, the firm said Wednesday.

  • July 08, 2026

    Red Cat Says Investor Suit Confuses Predictions With Fraud

    Drone-maker Red Cat Holdings Inc. asked a New Jersey federal judge to toss a proposed class action accusing it of misleading investors, asserting that it is "doing very well" and that the suit's "fraud-by-hindsight" allegations cannot get off the ground.

  • July 08, 2026

    ASP Isotopes Investors Reach $9.4M Deal Over Tech Claims

    Uranium enrichment company ASP Isotopes Inc. and its shareholders have reached a $9.4 million deal to end claims that the company and its executives artificially inflated share prices with misrepresentations regarding the capabilities of the company's so-called quantum enrichment technology.

  • July 08, 2026

    Kalshi Sends NY Prediction Market Ruling To 2nd Circ.

    Kalshi is challenging a New York federal court's decision to deny it an enforcement shield from the state's gaming laws, adding the Second Circuit to the list of appellate courts set to weigh in on the question of prediction market regulation.

  • July 07, 2026

    Kalshi Loses Bid To Block NY Gambling Law Enforcement

    Kalshi cannot block New York from enforcing its gambling laws against the prediction market platform's sports-related offerings while the company pursues litigation accusing the state of intruding on the federal government's regulatory authority over derivatives trading, a federal judge ruled Tuesday.

  • July 07, 2026

    SEC's 2026 Agenda Eyes Exec Comp, Recordkeeping Reforms

    The U.S. Securities and Exchange Commission has issued a new rulemaking agenda that highlights its plans to reduce executive compensation disclosure requirements at publicly traded companies and possible changes to broker-dealer recordkeeping requirements, while both it and the U.S. Commodity Futures Trading Commission are exploring new cryptocurrency rulemaking.

  • July 07, 2026

    Trump Depo Needed In Fla. Merger Suit, Ex-SPAC CEO Says

    The former CEO of a special purpose acquisition company that helped take Truth Social public urged a Florida judge Tuesday to allow President Donald Trump's deposition, arguing it's necessary to defend against a claim that he was targeted in a conspiracy to sign a merger agreement without his knowledge. 

  • July 07, 2026

    Ex-SEC Filing Co. Staffer Gets 2 Years For Insider Trading

    A former staffer for a firm that helps companies with U.S. Securities and Exchange Commission filings on Tuesday was sentenced to over two years in prison for using confidential information pilfered from his employer to fuel an insider trading scheme with a colleague that netted nearly $2.4 million in illicit profits.

  • July 07, 2026

    White & Case Taps Two Disputes Partners From Broadfield

    White & Case LLP said Tuesday it has hired two Broadfield lawyers to join its Hong Kong office as partners in the firm's global litigation practice and global private capital industry group, saying they have broad experience in multi-jurisdictional matters and international arbitration disputes.

  • July 07, 2026

    SEC Names Agency Vets To Lead New Retail Fraud Group

    The U.S. Securities and Exchange Commission said Tuesday that it has launched a new working group that will expand the agency's efforts to identify fraud targeting retail investors, tapping two longtime agency officials to lead the effort.

  • July 07, 2026

    CEO Cops To Conspiracy In BigLaw Insider Trading Case

    A Dubai-based CEO and trader has pled guilty in Massachusetts federal court to charges that he worked with a former BigLaw associate and others to carry out a far-reaching insider trading scheme.

  • July 07, 2026

    Sony Bank's Crypto Charter Bid Clears 1st OCC Hurdle

    Sony's online banking unit is a step closer to setting up a crypto-focused U.S. trust company with a preliminary conditional charter from the Office of the Comptroller of the Currency.

  • July 07, 2026

    Wrigley Heir, Cannabis Co. Beat $25M Securities Fraud Suit

    A Florida federal judge on Monday tossed a $25 million securities fraud case against William "Beau" Wrigley Jr., heir to the chewing gum fortune, and the cannabis company he used to run, finding that the allegations brought by investors fell outside the ambit of federal securities law.

  • July 07, 2026

    Fee Award Halved In Douglas Elliman Shareholder Settlement

    Attorneys representing investors in a derivative litigation over a sexual misconduct scandal involving former top real estate brokers at luxury residential firm Douglas Elliman were awarded $1.87 million in the Delaware Chancery Court on Tuesday for fees and expenses, about half their original request.

Expert Analysis

  • Parsing Rule 12(c) Motion Overuse In Securities Class Actions

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    Defendants in securities class actions have more frequently been filing motions for judgment on the pleadings following the denial of motions to dismiss, but courts have recently demonstrated an increasing willingness to reject these previously rare motions, finding them transparent attempts to relitigate already-decided issues, say attorneys at Labaton Keller.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q1

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    As usual, California remained a hub for financial services activity in the first quarter of 2026, with key developments including the California Department of Financial Protection and Innovation's eye on consumer issues, a bill targeting "pig butchering" schemes, and jam-packed courts, say attorneys at Joseph Cohen.

  • Series

    Ultramarathons Make Me A Better Lawyer

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    Completing a 100-mile ultramarathon was tougher, more humbling and more rewarding than I ever imagined, and the experience highlighted how long-distance running has sharpened my ability to adapt to the evolving nature of antitrust law and strengthened my resolve to handle demanding, unforeseen challenges, says Dan Oakes at Axinn.

  • When AI Puffery Becomes Actionable Securities Fraud

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    Though courts usually hold that vague but optimistic corporate statements don’t constitute securities fraud, signs suggest that investors may give enough economic weight to references to artificial intelligence in public company disclosures that broad feel-good statements could cross into actionable misrepresentation, says Christine Polek at Keystone Strategy.

  • Series

    Pa. Banking Brief: All The Notable Legal Updates In Q1

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    The first quarter of 2026 brought several consequential developments for Pennsylvania financial institutions, including the state banking department's first assessment overhaul in 10 years, a bill prohibiting interchange fees on card transaction sales taxes and a federal appeals court's upholding of a $52 million enforcement action, say attorneys at Gross McGinley.

  • Madison Capital Action Displays SEC's Emphasis On Process

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    The U.S. Securities and Exchange Commission's recent enforcement action against Madison Capital reflects the SEC's view that when market conditions materially change, valuation methodologies must be reassessed in real time, highlighting the importance of internal processes, say attorneys at Lankler Siffert & Wohl.

  • Navigating The Perks Of Qualified Opportunity Zones 2.0

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    The second iteration of the qualified opportunity zone program, effective Jan. 1, 2027, will introduce new tax incentives for rural real estate development, but these benefits can only be realized if proper governance is a priority, including clear documentation and securities law compliance, says Coni Rathbone at VF Law.

  • Getting The Most Out Of Learning And Development Programs

    Excerpt from Practical Guidance
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    Junior associates can better develop the legal, business and interpersonal skills they need for long-term success by approaching their firms’ learning and development programs armed with five tips for getting the most out of these resources, says Lauren Hakala at Reed Smith.

  • OCC Rule Tests Nonfiduciary Powers Of Trust Banks

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    The Office of the Comptroller of the Currency's updates to its final rule on national bank chartering, effective April 1, may augur a showdown between the OCC, states and traditional banking institutions over both the authority of national trust banks to engage in nonfiduciary activities under the National Bank Act, and the scope of federal preemption, says Audrey Carroll at Stinson.

  • AI And Threats To Privilege In Financial Sector Probes

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    The recent spotlight on the potential for artificial intelligence platforms to serve as a source for discoverable information is especially important for financial institutions to understand, as the industry navigates increasingly complex regulatory expectations and AI tools become embedded in investigative efforts, say attorneys at Jackson Lewis.

  • 'A-C-T' Agenda Signals New Regulatory Era At SEC Speaks

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    At this year's SEC Speaks, U.S. Securities and Exchange Commission Chairman Paul Atkins unveiled his ambitious A-C-T agenda — advance, clarify and transform — to align the federal securities regulatory regime with modern markets, illustrating that the conference was not merely a status update but an action plan, say attorneys at Perkins Coie.

  • Opinion

    AI Presents A Make-Or-Break Moment For Outside Counsel

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    The rapid adoption of artificial intelligence by corporate legal departments is forcing a long-overdue reset of the relationship between inside and outside counsel, and introducing a significant opportunity to shed frustrating inefficiencies and strengthen collaboration for firms willing to embrace the shift, says Intel Chief Legal Officer April Miller Boise.

  • 8 Tariff Refund Questions For Restructuring Professionals

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    For restructuring and turnaround professionals, seeking refunds following the U.S. Supreme Court's recent decision invalidating tariffs imposed under the International Emergency Economic Powers Act raises several questions about how to capture legitimate recoveries while protecting an enterprise from the consequences of its own history, says Jonny Frank and Laura Greenman at StoneTurn, and Andrew Popescu at Province.

  • When Class Certification Issues And Crypto Nuance Collide

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    A New York federal court's recent ruling in In re: Tether and Bitfinex highlights that crypto companies should expect courts to apply conventional class action principles to novel digital asset markets, albeit with careful attention paid to the unique features of crypto trading, say attorneys at Duane Morris.

  • Series

    Watching Hallmark Movies Makes Me A Better Lawyer

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    I realize you may be judging me for watching, and actually enjoying, Hallmark Channel movies, but the escapism and storylines actually demonstrate qualities and actions that lead to an efficient, productive and positive legal practice, says Karen Ross at Tucker Ellis.

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