Fox Corp. v. Media Deportes Mexico  |  Smart Study Co. v. Shenzhenshixindajixieyouxiangongsi The key question in cross-border litigation is not how quickly a U.S. court can act, but whether the relief obtained will survive enforcement review years later in a foreign court. A recent decision from the Southern District of New York in Fox Corp. v. Media Deportes Mexico, read …

Herlihy v. DBMP LLC, No. 24-2109 (4th Cir. 2026) The Fourth Circuit confirmed that balance-sheet solvency does not disqualify a company from invoking § 524(g) and that early-stage dismissal requires proof of both subjective bad faith and objective futility. In Herlihy v. DBMP LLC, the court rejected an early-stage effort to lift the automatic stay and imposed a disciplined evidentiary standard …

A federal court has now made clear that using a public-facing large language model (“LLM”) to assess legal risk can create discoverable evidence. In a criminal securities and wire fraud prosecution in the Southern District of New York, Judge Jed S. Rakoff held that documents a defendant generated through Anthropic’s Claude Large Language Model were not protected by the attorney …

In a significant ruling, the SEC v. Sripetch upheld a $2.25 million disgorgement award plus interest, holding that the SEC need not prove that investors suffered actual financial losses before reclaiming a defendant’s profits. The Commission had charged Sripetch and others with manipulating penny stock schemes, and while the defendant argued that disgorgement requires evidence of investor “pecuniary harm,” the …

The SEC is executing a coordinated enforcement strategy designed to deter fraud at scale. Its latest cases reveal a clear pattern: fraudulent offerings promising outsized returns, Ponzi-like structures disguised as legitimate enterprises, and insider misuse of confidential information. The message for boards and executives is unmistakable — weak governance and opaque compliance controls are not lapses, they are enforcement triggers. …

In SEC v. Barry (9th Cir. 2025), the Ninth Circuit delivered a decisive ruling that reinforces the SEC’s expansive use of the Howey test to define securities. The case involved Pacific West Capital Group’s sale of fractional interests in life settlements—arrangements where investors purchased shares in life insurance policies and relied on the company to pay premiums and manage reserves …

The SEC, under the leadership of Chair Paul Atkins, has made good on its pledge to return to the agency’s core mission of market integrity. In recent weeks, the Commission—sometimes in coordination with the DOJ and FBI—has announced a series of insider trading cases that read like a throwback to classic enforcement playbooks. For companies, boards, and compliance officers, these …

On January 13, 2022, CFTC Commissioner Dawn D. Stump delivered remarks at the Chamber of Digital Commerce. Commissioner Stump acknowledged that: (1) market regulators must avoid stifling beneficial market innovations by rigidly clinging to past regulatory approaches that do not fit the current paradigm of products and services offered to the public; and (2) infrastructure providers must accept regulatory oversight to assure market integrity and consumer protection.

In December 2021, the White House released the “United States Strategy on Countering Corruption” (the “Strategy”). The Strategy is a follow-on document to the June 3, 2021, Memorandum on Establishing the Fight Against Corruption; (See our prior Alert regarding corruption as national security priority), which set Administration policies regarding the corrosive impact of corruption globally and directed key agencies and departments to develop strategies to attack corruption.

Next year the Federal Trade Commission (“FTC” or “Commission”) will adopt a new four-year strategic plan for fiscal years 2022-2026, as required by the GPRA Modernization Act of 2010. This Act requires federal agencies to update their strategic plans every four years.