Securities

  • June 08, 2026

    OpenAI Joins Anthropic In Confidentially Filing IPO Plans

    OpenAI said Monday that it had confidentially submitted a proposed initial public offering to the U.S. Securities and Exchange Commission, an announcement that comes a week after artificial intelligence rival Anthropic said it had done the same.

  • June 08, 2026

    Feds Abandon $300M Fraud Case Against Prophecy CEO

    Federal prosecutors have dropped their fraud case against the former CEO of collapsed investment adviser Prophecy Asset Management LP over his alleged involvement in a nearly $300 million hedge fund wipeout.

  • June 08, 2026

    PNC Beats Suit Over Bank Customer's Investor Fraud

    The Sixth Circuit ruled Monday that investors who gave millions of dollars to a man who lost their money before taking his own life cannot sue PNC or a bank employee, and the court held the plaintiffs improperly added the employee to their case to have it heard in state court.

  • June 08, 2026

    StubHub Wants IPO Disclosures Suit Tossed

    StubHub and several of its initial public offering underwriters urged a New York federal court to dismiss a shareholder suit accusing them of securities fraud, saying StubHub made all necessary disclosures and acted transparently before the IPO despite investors' claims that it hid information about cash flow and its transition into direct ticket sales.

  • June 08, 2026

    Denver Developer Accused Of Lies To Dodge Loan Repayment

    A real estate investment firm has claimed in Colorado state court that a Denver developer lied numerous times to refinance on three occasions a promissory note governing the development of a residential lot on the north side of the city, alleging that the developer owes nearly $380,000 in damages.

  • June 08, 2026

    Catching Up With Delaware's Chancery Court

    At the Delaware Chancery Court, a trial over World Wrestling Entertainment Inc.'s $21.4 billion merger with Ultimate Fighting Championship's parent company has been canceled, and a Reddit investor has filed a suit claiming the company used artificial intelligence to challenge his grievance about a charter provision.

  • June 08, 2026

    Clearing House To Pay $40.7M Over 'Slush Fund' Claims

    Axos Clearing LLC owes more than $40.7 million to more than 100 claimants for allegedly turning a blind eye as the brokerage firm Worden Capital Management LLC used the claimants' accounts as personal slush funds, following Worden Capital's expulsion by the Financial Industry Regulatory Authority.

  • June 08, 2026

    Investors Say Roblox Misled With 'Bullish' Age-Check Claims

    Roblox Corp., its CEO and its CFO were hit Monday with a proposed class action alleging that the company's "bullish" statements about its growth following the rollout of age-checking systems misled investors, leading to a nearly 20% drop in stock value after the truth came out.

  • June 08, 2026

    Cineverse Investor Sues In Del. Over Post-Split Stock Grants

    A Cineverse Corp. shareholder has sued the entertainment company, its chief executive and three directors in Delaware Chancery Court, alleging they improperly enriched themselves with stock grants after a 2023 reverse stock split and then failed to fully disclose those actions when seeking shareholder approval for additional equity awards.

  • June 08, 2026

    Over 200 Crypto Orgs Urge Senate To Act On Clarity Bill

    More than 200 crypto firms and industry groups are urging Senate leaders to set a full vote for the crypto market structure bill the Clarity Act.

  • June 08, 2026

    Biogen To End Investors' Alzheimer's Drug Case For $18.9M

    Biogen Inc. has agreed to pay $18.9 million to exit a lawsuit accusing it of misleading investors about the commercial readiness of a new Alzheimer's treatment, according to a settlement filed in Massachusetts federal court.

  • June 08, 2026

    Adviser AI Use Under Scrutiny In NJ Securities Review

    New Jersey financial regulators said Monday that the state's annual examination of investment adviser business practices this year will take a hard look at how artificial intelligence is used in the construction of investment portfolios or recommendations to clients.

  • June 08, 2026

    1st Circ. Partially Revives IRobot, Amazon Merger Suit

    The First Circuit has partially revived a shareholder proposed class action accusing iRobot Corp. of misleading investors about expected regulatory opposition that ultimately led to the abandonment of a proposed $1.7 billion merger with Amazon, finding that a modified 2023 proxy statement "omitted important contrary information about European approval."

  • June 08, 2026

    Ad Watchdog Refers Kalshi For Refusing Influencer Ad Inquiry

    An advertising industry self-regulatory body said Monday that it's referring Kalshi Inc. to regulators "for review and possible enforcement action" after the prediction market platform allegedly declined to answer an inquiry into whether it took steps to ensure its online promoters disclosed their ties to the firm when boosting it on social media.

  • June 08, 2026

    Baker Donelson Owes $2.8M After Ponzi Trial, Court Told

    A court-appointed receiver argued Friday that Baker Donelson Bearman Caldwell & Berkowitz PC is on the hook for at least $2.8 million following a jury's verdict finding the firm committed negligent supervision amid a Mississippi timber company's $164.5 million Ponzi scheme.

  • June 08, 2026

    CEO Was 'Central' To Sham Revenue Scheme, SEC Says

    The former CEO of Lottery.com should not escape U.S. Securities and Exchange Commission claims he was a "central actor" in a scheme to cook the company's books, the regulator argued, telling a Manhattan federal judge that its enforcement action "extensively" details its fraud allegations against the executive.

  • June 08, 2026

    King & Spalding May Be Sanctioned In $300M Fraud Lawsuit

    Two King & Spalding LLP partners face a sanctions hearing in a $300 million fraud lawsuit to determine whether they violated a rule requiring candor to the tribunal by falsely claiming attorneys for other parties were copied on letters to two Connecticut jurists, according to two state court orders.

  • June 08, 2026

    Bankman-Fried Seeks Trump Pardon On FTX Fraud Conviction

    FTX founder Sam Bankman-Fried, who is currently serving a 25-year prison sentence, has asked President Donald Trump to pardon him for defrauding customers who placed billions of dollars with the fallen cryptocurrency exchange, according to the U.S. Department of Justice's Office of the Pardon Attorney.

  • June 08, 2026

    WWE Merger Case In Chancery Settles On The Eve Of Trial

    The Delaware Chancery Court trial over World Wrestling Entertainment Inc.'s $21.4 billion merger with Ultimate Fighting Championship's parent company has been canceled after the parties reached an agreement in principle to settle the case, according to a minute order from Vice Chancellor J. Travis Laster.

  • June 05, 2026

    More Skechers Investors Sue Over $9.4B Take-Private Deal

    Additional investors have sued over Skechers' $9.4 billion take-private sale to private equity giant 3G Capital, with the latest complaint in Delaware Chancery Court alleging the company's founder and family used their majority voting power to push through an unfair deal.

  • June 05, 2026

    Ex-Trader Accused Of Profiting From Cousin's Insider Info

    A retired New York Mercantile Exchange trader is charged with insider trading by securities regulators who allege he bought shares of Sanofi's biopharmaceutical unit Kadmon Holdings Inc. based on confidential information the trader received about Kadmon's flagship chronic graft-versus-host disease treatment drug in July 2021, and that the trader tipped off a friend about the information.

  • June 05, 2026

    Investment Adviser Took Millions From Clients, SEC Says

    The U.S. Securities and Exchange Commission on Friday accused a purported Chicago investment adviser in federal court of stealing millions from family, friends and others by convincing them to put their money toward an investment pool he then "perpetually drained" through unsuccessful trading and personal spending.

  • June 05, 2026

    DC Circ. Backs CFTC Denial Of $147M Whistleblower Award

    The D.C. Circuit Friday affirmed the U.S. Commodity Futures Trading Commission's decision denying a former trader's bid for a $147 million whistleblower incentive award after he tipped off the agency about foreign exchange market manipulation, saying there's no evidence he was the original source on which the commission relied.

  • June 05, 2026

    Fla. Judge Tosses Nearly All Counts In PE Fund Dispute

    A Florida federal judge tossed most of the counts in a lawsuit brought by two men who alleged their former partner defrauded them in a private equity fund operation, saying the complaint contains repetitive claims and provides little information of wrongdoing. 

  • June 05, 2026

    DLA Piper Urges 2nd Circ. To End 'Vexatious' Malpractice Suit

    The Second Circuit should uphold the dismissal of a Chinese software company's legal malpractice suit and $635,000 in sanctions against it and its lawyers, DLA Piper has argued, citing previous favorable rulings in the matter by a federal magistrate judge, district court judge, state justice and five-judge panel of the New York state appeals court.

Expert Analysis

  • 3 Policy Lines To Revisit After Justices Nix Emergency Tariffs

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    The U.S. Supreme Court's invalidation of President Donald Trump's emergency-based tariffs could expose businesses to allegations of misrepresenting tariff effects and raise the prospect of consumer actions seeking refunds — underscoring the need for policyholders to potentially reposition their insurance portfolios, say attorneys at Reed Smith.

  • SEC Guidance Further Solidifies Status Of Tokenized Assets

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    The U.S. Securities and Exchange Commission recently released a statement that tokenized securities are securities governed by traditional securities laws, representing continued regulatory clarity and the development of expanded technical standards and risk management guidelines that can only improve the long-term viability of financial markets, say attorneys at Barnes & Thornburg.

  • 5 Tips For Navigating Your Firm's All-Attorney Summit

    Excerpt from Practical Guidance
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    Law firm retreats should be approached strategically, as they present valuable opportunities to advance both the firm's objectives and attorneys' professional development through meaningful participation, building and strengthening internal relationships, and proactive follow-up, says James Argionis at Cozen O’Connor.

  • CFTC's No-Action Relief Fuels Energy Market Competition

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    The U.S. Commodity Futures Trading Commission recently launched a pilot program aimed at expanding access to energy markets, reflecting a shift toward supporting robust derivatives markets that balance regulatory safeguards with the needs of commodity end users, say attorneys at Moore & Van Allen.

  • Opinion

    Clarity Act Would Clear Welcome Pathways For Blockchain

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    The framework proposed under the Senate Banking Committee's version of the Clarity Act creates reasonable compliance obligations and meaningful token-distribution opportunities that would open the door for more U.S.-based blockchain projects, without the heightened risk of securities litigation and regulatory enforcement, says Karen Ubell at Goodwin.

  • 6 Noteworthy Changes From SEC Enforcement Manual Update

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    Recent updates to the U.S. Securities and Exchange Commission’s enforcement manual represent a commitment to transparency and fair process, with the signature change being a requirement that staff make certain probative evidence available during the Wells process, say attorneys at Debevoise.

  • Series

    Coaching Soccer Makes Me A Better Lawyer

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    Coaching youth soccer for my 7-year-old son's team has sharpened how I communicate with clients, prepare witnesses, work within teams and think about leadership, making me a more thoughtful and effective lawyer in many ways, says Joshua Holt at Smith Currie.

  • What Texas Anti-Boycott Ruling Means For ESG Landscape

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    A Texas federal court's recent ruling in American Sustainable Business Council v. Hegar that Texas' anti-ESG law is unconstitutional on First Amendment grounds will likely embolden legal challenges to similar laws in other states that have adopted fossil fuel boycott statutes, say attorneys at ArentFox Schiff.

  • How To Wield The Clarity Act As A Litigation Defense Tool

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    The Clarity Act is being discussed as a future compliance statute, but for litigators it can be used as a present-day defense tool to strengthen fair‑notice framing, argue for forward‑looking remedies rather than punitive ones and reprice settlement leverage as statutory clarity approaches, say attorneys at Baker McKenzie.

  • Series

    Law School's Missed Lessons: The Human Element

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    Law school teaches you to quickly apply intellect and logic when handling a legal issue, but every fact pattern also involves a person, making the ability to balance expertise with empathy critical to the growth of relationships with clients, colleagues and adversaries, says Rachel Adcox at Adcox Strategies.

  • How DExit, Mandatory Arbitration Could Alter IPO Outlook

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    As companies continue to leave Delaware and the U.S. Securities and Exchange Commission begins allowing companies to implement mandatory arbitration provisions, these developments could have a major impact on the initial public offering, securities class action, and directors and officers insurance landscapes, says Walker Newell at Arthur J. Gallagher & Co.

  • Why Prediction Market Regulation Is At Major Inflection Point

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    As prediction markets experience tremendous growth and rapid mainstream adoption, regulators have begun to exercise enforcement authority to ensure market integrity and protect participants, though forthcoming guidance will shed light on how aggressively the agencies will police the fast-changing landscape, say attorneys at Latham.

  • The Benefits Of Choosing A Niche Practice In The AI Age

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    As artificial intelligence becomes increasingly accessible, lawyers with a niche practice may stand out as clients seek specialized judgment that automation cannot replicate, but it is important to choose a niche that is durable, engaging and a good personal fit, says Daniel Borneman at Lowenstein Sandler.

  • Risk Disclosure Lessons For AI Cos. From Dot-Com Era

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    Regulatory responses following the dot-com collapse reflected a consistent emphasis on whether public disclosures enabled investors to understand the economic reality underlying reported performance, a focus that is likely to shape how artificial intelligence infrastructure disclosures are evaluated if market expectations similarly deteriorate, say Diana Connor, Adrienna Huffman and Bin Zhou at the Brattle Group.

  • The Practical Implications Of New FDIC Stablecoin Measures

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    The Federal Deposit Insurance Corp.'s recent proposal to create a formal process for issuing payment stablecoins arrives with several practical implications for FDIC‑supervised banks pursuing digital asset strategies, including a safe harbor for early applicants and a focus on ownership and governance, say attorneys at Troutman.

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