OpenAI, the research organization renowned for its contributions to artificial intelligence, is signaling its readiness to go public. The company has reportedly enlisted the services of two prestigious law firms, Cooley LLP and Wachtell, Lipton, Rosen & Katz, to aid in its initial public offering (IPO) preparations. The decision underscores OpenAI’s commitment to aligning with…
In an unexpected turn of events, shareholders have found themselves pleasantly surprised by an increase in corporate engagement on environmental, social, and governance (ESG) issues, despite a recent retreat by the U.S. Securities and Exchange Commission (SEC). This comes as many companies continue to prioritize ESG dialogues amid shifting regulatory signals. More information on this…
The rapid proliferation of stablecoins, a subset of cryptocurrency pegged to fiat currencies such as the U.S. dollar, highlights the growing complexity of digital currency regulation. As these assets become more mainstream, they pose distinct challenges for financial oversight. Their unique position—straddling the lines between currencies and investments—places regulators in a difficult spot as they…
The U.S. Securities and Exchange Commission (SEC) has filed a proposed settlement with Justin Sun, a well-known figure in the cryptocurrency world and founder of TRON. According to the filing, Sun has agreed to a settlement that involves one of his companies paying a $10 million penalty. This development marks a significant step in the…
Dorsey & Whitney LLP has announced a significant strengthening of its Southern California mergers and acquisitions (M&A) practice with the addition of three experienced partners. This strategic move underscores the firm’s commitment to enhancing its market presence and supporting its clients in the region. The firm has welcomed partners William S. Anderson, Gavin E. Mercado,…
Leib Orlanski, a seasoned attorney renowned for his expertise in corporate law, has joined the Los Angeles office of Greenspoon Marder LLP, further enhancing the firm’s capabilities in its corporate practice. Orlanski brings with him an extensive background in mergers and acquisitions, securities, and finance, which aligns with Greenspoon Marder’s strategic objectives to expand its…
In a strategic maneuver aimed at strengthening its business litigation capabilities, King & Spalding has rehired veteran litigator Eric M. Creizman. Creizman, a former Securities and Exchange Commission (SEC) enforcement attorney, joins the firm’s New York office to bolster its litigation practice with his extensive experience in securities litigation and white-collar defense. His return to…
In a significant development unfolding in Texas, a new law targeting proxy advisers mandates increased transparency with the aim of safeguarding investors. This legislation, which came into effect recently, requires proxy advisory firms to disclose potential conflicts of interest, thereby ensuring that their voting recommendations are made with the utmost integrity. This change is poised…
In 2025, enforcement actions related to accounting and auditing by regulatory bodies saw a significant decline. The U.S. Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) both reported notable decreases in their enforcement activities over the past year. A substantial reduction in SEC settlements and PCAOB fines highlighted this downward…
In a striking shift, the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) initiated only two cases related to the Foreign Corrupt Practices Act (FCPA) last year, a significant decline from the 40 cases recorded a year earlier. This downturn in American enforcement activity may suggest to some a retreat in…
O’Melveny & Myers LLP has further bolstered its capital markets capabilities with the addition of Jeremy Kennedy, a partner from Holland & Knight LLP, to its Houston office. This strategic move underscores O’Melveny’s focus on strengthening its presence in the vibrant Texas market. Jeremy Kennedy brings extensive experience in capital markets transactions, representing both issuers…
Simpson Thacher & Bartlett LLP has made a significant addition to its finance practice by recruiting structured finance expert Timothy S. Hia from Dechert LLP. This move underscores Simpson Thacher’s strategic commitment to bolstering its capabilities in structured finance, a field characterized by complex legal frameworks and multi-faceted transactions. Timothy S. Hia is well-regarded within…
In 2025, enforcement actions by the U.S. Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) against accounting and auditing firms declined significantly, reaching multi-year lows. This downturn coincided with leadership transitions at both agencies, suggesting a potential shift in regulatory priorities. According to Cornerstone Research, the SEC initiated only 10…
The U.S. Department of Justice’s Antitrust Division has introduced a new whistleblower rewards initiative in collaboration with the U.S. Postal Service, promising a fresh approach to uncovering antitrust violations. This program, announced last week, is designed to work alongside the existing leniency program, a staple in the DOJ’s enforcement toolkit for years. The leniency program…
In a recent ruling, U.S. District Judge Katherine Polk Failla of the Southern District of New York dismissed allegations against crypto platform developers, finding that they are not liable for the actions of unknown third-party issuers. The ruling highlights the ongoing complexities surrounding legal accountability in the burgeoning cryptocurrency sector. The case centered on alleged…
White & Case has significantly bolstered its securities litigation capabilities with the recent hiring of esteemed litigator Daniel Steinfeld in Los Angeles. Steinfeld’s move from his previous firm underscores the robust demand for skilled litigators in the evolving landscape of securities law. His expertise is expected to further enhance White & Case’s offerings, particularly in…
Winston & Strawn LLP has made a significant addition to its New York office by recruiting a new structured finance partner. This strategic move is aimed at bolstering the firm’s capabilities in the complex and highly competitive field of structured finance. The newly appointed partner is expected to bring extensive experience and knowledge to the…
The U.S. Securities and Exchange Commission (SEC) has finalized rules implementing the Holding Foreign Insiders Accountable Act (HFIAA), significantly altering disclosure obligations for directors and officers of foreign private issuers (FPIs). Effective March 18, 2026, these individuals must publicly report their holdings and transactions in company equity securities, aligning their requirements with those of their…
In a strategic move that underscores its commitment to bolstering its securities enforcement capabilities, Eversheds Sutherland has announced the addition of a seasoned securities counsel from WilmerHale to its Washington, D.C., office. This addition marks a significant enhancement to the firm’s litigation team, particularly in handling intricate securities enforcement matters and regulatory investigations. The arrival…
Counsel for corporations are closely monitoring the current proxy season focusing on shareholder proposals within the Russell 3000 companies. The latest reports indicate that more than 70% of these proposals are being tabled for votes during annual corporate meetings. This heightened level of activity underscores a dynamic shift in shareholder engagement, reflecting broader trends in…
As corporate legal departments navigate a complex environment, several key developments have captured attention this week. Highlighting changes in leadership, GSK named Terence M. Hahn as its new general counsel, a move that underscores the company’s focus on growth and strategic realignment. Hahn, previously at investment firm Calgarth Holdings, is poised to leverage his experience…
The Chief Legal Officer of Carnival Corporation, Arnaldo Perez, experienced a significant reduction in compensation, totaling nearly $2.5 million for the fiscal year 2025. This dip in pay has been attributed largely to a decrease in stock awards. Details on this adjustment in compensation can be found here. According to Carnival’s recent filings with the…
In a significant decision impacting the burgeoning world of cryptocurrency exchanges, a New York federal judge has refused Binance’s attempt to compel arbitration in a long-standing securities class action. This ruling underscores the complexities companies face when updating terms of service and poses substantial ramifications for the digital asset marketplace. The class action in question…
The securities lawsuit challenging Elon Musk’s statements regarding his acquisition of Twitter is set to proceed to trial at the Phillip Burton Federal Building in San Francisco. The proceedings are expected to last two to three weeks, with a scheduled break on March 11. The case centers on allegations that Musk failed to disclose his…
In a strategic move to expand its presence and capabilities, Frost LLP has launched a new office in Silicon Valley, bringing with it a dedicated white-collar crime team. The firm’s move into this tech-centric region underscores its commitment to providing specialized legal services in a rapidly evolving landscape. Silicon Valley, known for its concentration of…