Analysis

DOJ's New Corporate Enforcement Policy May Eclipse SDNY's

By Sarah Jarvis

The U.S. Department of Justice has put to use for the first time its new corporate enforcement policy of declining prosecutions when companies self-report potential criminal violations, but experts say the new, department-wide initiative has rendered a more business-friendly approach by the Southern District of New York moot.

1 document attached | Read full article » | Save to favorites »

Cycurion Says Bogus PR Cost $10M In 'Short-Selling' Scheme

By Abigail Harrison

Publicly traded cybersecurity firm Cycurion Inc. accused a public relations company of participating in an anonymous trader's short-selling scheme that created a market frenzy that damaged the company by at least $10 million, according to a lawsuit filed in North Carolina state court.

Complaint attached | Read full article » | Save to favorites »

AE Industrial Accused Of Insider Trading On AI Co. Stock

By Jessica Corso

Private equity firm AE Industrial Partners LP has been accused in Delaware Chancery Court of taking advantage of its insider status at artificial intelligence firm Bear.ai Holdings Inc., allegedly shedding $255 million in stock ahead of news that the company wasn't performing as well as projected.

Complaint attached | Read full article » | Save to favorites »

Brief

CFTC Appoints Deputy GCs For Regulation, Litigation

By Jessica Corso

The U.S. Commodity Futures Trading Commission announced Friday that it has hired a former U.S. Senate staffer and a lawyer with experience at the Virginia Attorney General's Office as deputy general counsel overseeing regulation and litigation at the agency.

Read full article » | Save to favorites »

Ameriprise To Pay $1.4M Over Annuity Supervision Claims

By Sarah Jarvis

Ameriprise Financial Services LLC has agreed to pay nearly $1 million in restitution and a $450,000 fine to end allegations from the Financial Industry Regulatory Authority that the Minneapolis-based firm failed to properly supervise recommendations of certain variable annuity exchanges.

Letter attached | Read full article » | Save to favorites »

Law360 Announces The Members Of Its 2026 Editorial Boards

Law360 is pleased to announce the formation of its 2026 Editorial Advisory Boards.

Read full article » | Save to favorites »

Brief

Crypto Coder Seeks To Revive DOJ Challenge At 5th Circ.

By Aislinn Keely

The cryptocurrency software developer who sued the government to protect his forthcoming project from any potential accusations of unlicensed money transmission is asking the Fifth Circuit to keep his lawsuit in play after a Texas federal judge tossed the challenge for failing to show a substantial threat of prosecution.

Notice attached | Read full article » | Save to favorites »

SEC Moves To Set Up $40M Investor Fund In Cassava Case

By Mark Payne

The U.S. Securities and Exchange Commission asked a Texas federal court on Friday to establish a $40 million fund to potentially compensate investors harmed by a Texas biopharmaceutical company and two former executives' alleged misstatements about an Alzheimer's drug, following the company's 2024 settlement with the regulator.

Motion attached | Read full article » | Save to favorites »

Judge Stands By Block Of DOJ Subpoenas In Powell Probe

By Jon Hill

A Washington, D.C., federal judge on Friday rejected a U.S. Department of Justice attempt to revive subpoenas from its investigation into Federal Reserve Chair Jerome Powell, saying the government hadn't "come close" to giving him a reason to rethink blocking them.

Opinion attached | Read full article » | Save to favorites »

Long Island Investment Adviser Cops To $160M Fraud

By Katryna Perera

A Long Island, New York, man admitted Friday to defrauding clients out of $160 million by hiding conflicts of interest and falsely claiming their investments in various private equity funds were safe and low-risk.

1 document attached | Read full article » | Save to favorites »

GPB Investors Get $67.7M, Eye 2 More Settlements

By Katryna Perera

A New York federal judge on Thursday allowed the receiver of GPB Capital Holdings to enter into a $67.7 million settlement with investors over the private equity firm's collapse, one day after investors sought approval for separate deals with a Deloitte unit and Morrison Brown Argiz & Farra LLC over those companies' alleged work providing valuation services for GPB.

2 documents attached | Read full article » | Save to favorites »

Cross River Bank Beats Suit Over Alleged Solar Loan Scheme

By Sydney Price

New Jersey-based Cross River Bank has, for now, escaped a proposed class action from an investor in solar technology company Sunlight Financial who accused the bank of overlending to risky borrowers in Sunlight's solar loan program as its financial partner.

Order attached | Read full article » | Save to favorites »

Crypto Co. Hit With Investor Class Action Over Merger

By Jade Martinez-Pogue

A Florida-based bitcoin mining company and its leaders netted over $2 million from selling stocks at inflated prices, bolstering a "rosy picture" of an upcoming merger that led to sinking stock prices, according to a proposed investor class action alleging executives engaged in a "pump-and-dump" scheme.

Complaint attached | Read full article » | Save to favorites »

Skadden Guides Franklin Templeton Crypto Co. Acquisition

By Aislinn Keely

Skadden Arps Slate Meagher & Flom LLP has steered Franklin Templeton's acquisition of a crypto investment management firm that will serve as the base of the finance giant's new crypto arm.

Read full article » | Save to favorites »

Sanctioned Ex-Broker Pushes To Keep IRS Records Suit Alive

By Anna Scott Farrell

The IRS should not be allowed to withhold records of its investigation into an ex-broker sanctioned by the Financial Industry Regulatory Authority for hiding $1.7 million in tax liens, he told a North Carolina federal court Friday, urging it to let his case against the tax agency proceed.

Brief attached | Read full article » | Save to favorites »

Judge Sets Interest Rules In $540M BofA Payment Fight

By Sydney Price

A D.C. federal judge said Bank of America NA must pay interest on a $540 million debt it owes the Federal Deposit Insurance Corp. based on a government-set rate for the time before the ruling and a standard federal rate for the time after, marking a step toward settling the parties' dispute on the proper formulas for calculating the payments.

Opinion attached | Read full article » | Save to favorites »

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

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.

Read full article » | Save to favorites »

ABA, Ex-Judges And Many More Back BigLaw In EO Appeal

By Dorothy Atkins

Numerous bar associations, 239 former judges, 21 states, lawmakers and dozens of other amici curiae have thrown their weight behind BigLaw firms in the Trump administration's consolidated D.C. Circuit appeal seeking to revive executive orders targeting the firms, broadly arguing that the orders are an affront to foundational constitutional rights.

8 documents attached | Read full article » | Save to favorites »

Legal Sector Lost 700 Jobs In March, Ending Hiring Streak

By Tracey Read

The legal sector began to slow down in March after a year and a half straight of gains, with 700 fewer people employed in lawyer, paralegal and other law-related professional roles last month than in February, according to seasonally adjusted data released Friday by the U.S. Bureau of Labor Statistics.

Read full article » | Save to favorites »

Progressive Org. Rolls Out $3M Anti-Trump High Court Push

By Courtney Bublé

President Donald Trump does not have any vacancies on the U.S. Supreme Court, but a progressive court advocacy organization is not waiting for a justice's departure to launch a multimillion-dollar campaign opposing a possible Trump pick.

Read full article » | Save to favorites »

Brief

Justice Alito Treated For Dehydration After Federalist Event

By Courtney Buble

U.S. Supreme Court Justice Samuel Alito felt ill during a Federalist Society event last month and was seen by a doctor "out of an abundance of caution," the high court announced on Friday.

Read full article » | Save to favorites »

6th Circ. Axes Atty For 'Inexcusable' AI 'Transgressions'

By Rae Ann Varona

An attorney committed "inexcusable transgressions" by relying on Westlaw's internal CoCounsel artificial intelligence platform for appellate filings and by failing to catch erroneous AI-generated content, the Sixth Circuit said Friday and removed the lawyer from further representing a man who pled guilty to drug trafficking charges.

Opinion attached | Read full article » | Save to favorites »

Analysis

'Political' Deals Pit DOJ Against State AGs, And Not Just Dems

By Bryan Koenig

Controversial U.S. Department of Justice settlements with Hewlett Packard Enterprise and Live Nation, along with the approval of Nexstar's purchase of Tegna, are increasingly inspiring state attorneys general to strike out on their own as antitrust enforcers, often in direct challenge to a federal government that Democrats have cast as "corrupt."

Read full article » | Save to favorites »

Florida Gov., AG Face Criticism For Judge Impeachment Push

By Rose Krebs

Florida Gov. Ron DeSantis and Attorney General James Uthmeier faced pushback this week from some in the state's legal community for calling for the impeachment of a judge for releasing a man who went on to allegedly kill his five-year-old stepdaughter, with critics blasting those calls as being politically motivated and "unethical."

Read full article » | Save to favorites »

Ex-DOJ Official Wants Epstein-Talk Suit Kept In District Court

By Emily Sawicki

A former U.S. Department of Justice acting deputy chief who was fired last year after a hidden-camera video of him discussing the Epstein files was posted online has told a D.C. federal judge his due process case must survive in district court because the Trump administration now controls federal oversight agencies.

Memorandum attached | Read full article » | Save to favorites »

Trump Seeks 13% Boost In DOJ Funding

By Courtney Bublé

The White House budget request for fiscal 2027, released on Friday, seeks $40.8 billion in discretionary funds for the U.S. Department of Justice, a 13% increase from the current year level.

1 document attached | Read full article » | Save to favorites »

Schneider Wallace Loses Bid For Bigger Piece Of $75M Fee

By Lauren Berg

A California federal magistrate judge on Friday rejected Schneider Wallace Cottrell Kim LLP's bid to increase its cut of a $75.4 million fee award for representing plaintiffs in a $228.5 million Sutter Health antitrust deal, saying lead counsel Constantine Cannon LLP's allocation of $1.4 million to Schneider Wallace was fair.

Order attached | Read full article » | Save to favorites »

Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

PayPal was hit with a proposed investor class action that claims the payments giant hid slowing growth for its critical branded checkout business. In the meantime, a Shopify lawyer encouraged his peers during a webinar to make sure their outside counsel have "met the moment" by leveraging artificial intelligence in smart ways. These are some of the stories in corporate legal news you may have missed in the past week.

Read full article » | Save to favorites »

Law360's Legal Lions Of The Week

By Kevin Penton

Alliance Defending Freedom, Pearman Law Firm PC and attorney Barry Arrington lead this week's edition of Law360 Legal Lions, after the U.S. Supreme Court ruled that a Colorado ban on therapy intended to change a minor's sexual orientation or gender identity amounts to viewpoint discrimination against a Christian therapist.

Read full article » | Save to favorites »

In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

Read full article » | Save to favorites »