Good morning. The tension between the SEC and crypto businesses is the subject of a closely-watched case before the D.C. Circuit today that could result in the appellate court picking sides. Plus, BakerHostetler is asking the 9th Circuit to sanction Robbins Geller, and the fight over “MetaBirkin” NFTs isn’t over. Let’s go! Were you forwarded this email? Subscribe here. |
Appellate veteran Donald Verrilli Jr of Munger Tolles will argue in the D.C. Circuit for crypto asset manager Grayscale Investments in its closely watched case against the SEC over its denial of the firm's application for a spot bitcoin exchange-traded fund (ETF). Grayscale wants to convert its Grayscale Bitcoin Trust, the world's largest bitcoin fund, into an ETF, which would allow investors to invest in bitcoin through an ETF instead of directly buying bitcoin from cryptocurrency exchanges and brokers. The SEC says no, arguing the proposal does not meet standards meant to protect investors.
Our colleague Hannah Lang reports that Grayscale’s case comes to the D.C. Circuit as the crypto industry has increasingly been at odds with the SEC over its crackdown on digital asset products, including those that offer investors returns on certain tokens. The outcome of the Grayscale case could either offer vindication for the SEC's position or pave the way for other companies to offer spot bitcoin ETFs if the appellate court rules in favor of Grayscale.
Emily Parise will argue for the SEC before D.C. Circuit Chief Judge Sri Srinivasan, sitting with Circuit Judge Neomi Rao and Senior Circuit Judge Harry Edwards. Grayscale CEO Michael Sonnenshein in January said he was prepared to continue pressing an appeal if the D.C. Circuit backed the SEC's decision to reject the bitcoin ETF proposal.
|
|
|
Baker Hostetler wants the 9th Circuit to revive the firm’s effort to sanction civil price-fixing plaintiffs in a California gasoline market antitrust case. The firm alleged Robbins Geller and another firm pursued “false” allegations. The plaintiffs’ lawyers have called the firm’s tactics in its pursuit of fees and sanctions “unmeritorious as they are unceremonious." (Reuters)
Quinn Emanuel opened an office in Beijing, expanding its presence in the Chinese mainland amid heightened U.S.-China tensions. The firm already has offices in Shanghai and Hong Kong. (Reuters)
|
Number of the day: $615,633 |
That’s how much an archive of documents and other items from Roe v. Wade sold for at an auction. The items belonged to Linda Coffee, one of the attorneys who represented “Jane Roe” in the case. Among the materials sold: the letter Coffee wrote to attorney Sarah Weddington proposing the two work together on the case; the receipt for filing the original case in Texas; and an affidavit from Norma McCorvey – better known as Jane Roe. Asked by Texas Monthly about why she put her belongings up for auction, Coffee said: “I’m 80 now, and I just want to make sure my collection is around for people long after I am gone.”
|
Last month, now-retired U.S. District Judge George Hazel, 47, became the latest in a recent string of judges to hang up their robes at a relatively young age to enter or return to private practice. Hazel, who joined Gibson Dunn, spoke with Jenna Greene about why he made the move (spoiler, not just money), why job hunting as a sitting judge is a delicate undertaking and what retired judges can add to a firm’s strengths. Read more about why Hazel made the move.
|
"I have serious doubts about the legitimacy of the ‘offended observer’ theory of standing." |
—Justice Clarence Thomas, writing alone in dissent that the U.S. Supreme Court should have voted to hear a Florida city's bid to fend off a lawsuit by atheists over a prayer vigil following gun violence that wounded three children. The justices turned away an appeal by Ocala of a lower court's ruling endorsing the right of the plaintiffs, backed by the American Humanist Association, to sue over legal harms they said they sustained attending the 2014 vigil in which uniformed police chaplains preached a Judeo-Christian message. Thomas has taken a broad view of religious rights during more than three decades as a justice.
|
Lawyers for Dominion Voting Systems and Fox Corp will meet before Judge Eric Davis in Delaware Superior Court for a status conference, as Dominion's $1.6 billion defamation lawsuit heads closer to its April 17 trial date. Davis last year rejected a motion by the parent of Fox News Network to dismiss Dominion’s defamation lawsuit over the network's 2020 presidential election coverage. In a recently unsealed filing, Fox Corp Chairman Rupert Murdoch acknowledged under oath that some Fox hosts "endorsed" the notion that the 2020 U.S. presidential election was stolen. Fox has argued its coverage of claims by Donald Trump's lawyers were inherently newsworthy and protected by the First Amendment.
Republican-led West Virginia will ask a 4th Circuit panel to overturn an August ruling from U.S. District Judge Robert Chambers that said the state can no longer exclude coverage for gender-conforming surgical care as treatment for gender dysphoria from its Medicaid health insurance plans. In the ruling, Chambers said the state program “invidiously discriminates on the basis of sex and transgender status.” Tara Borelli of Lambda Legal will argue for the plaintiffs and will face Caleb David of Shuman McCuskey Slicer for the state.
The U.S. Sentencing Commission will start a two-day public meeting to hear testimony on proposed amendments to the federal sentencing guidelines related to areas including firearms, conflicts among the U.S. appeals courts, career offenders and criminal history. Arizona U.S. Attorney Gary Restaino will represent the DOJ at the hearing, and law professor Leslie Scott will represent the federal defender perspective.
Court calendars are subject to last-minute docket changes.
|
-
A South Carolina jury ordered former talc supplier Whittaker, Clark & Daniels to pay $29.1 million to a woman who said she developed mesothelioma from being exposed to asbestos-tainted talc in cosmetic products. The jury in Columbia also found that talc manufacturer IMI Fabi was not responsible for plaintiff Sarah Plant's illness, clearing it of liability, according to Jessica Dean of Dean Omar Branham Shirley, a lawyer for the plaintiff. Cosmetics company Mary Kay and makeup pigment maker Color Techniques were also defendants but were dropped mid-trial after reaching confidential agreements with Plant. (Reuters)
The DOJ said a Virginia federal judge should reject Google’s effort to transfer the government’s digital advertising antitrust case from Alexandria to Manhattan. The government warned of the possibility of prolonged litigation. Google’s lawyers at Freshfields contend the case should be sent to a New York judge who is hearing related cases. (Reuters)
The U.S. Supreme Court asked the Biden administration to wade into a dispute between Florida-based energy company NextEra Energy and Texas over a state law that experts say could block the construction of vital interstate electric transmission lines. The Supreme Court is deciding whether to take up the state's appeal of a ruling that the 2019 law, which gives electric utilities already operating in the state the right of first refusal to build proposed transmission projects, is discriminatory and presents an undue burden on interstate trade. (Reuters)
A social media influencer pleaded guilty to fraudulently obtaining more than $1 million in federal pandemic-related loans from the U.S. government that she used to fund a lavish lifestyle she flaunted on Instagram. Danielle Miller agreed to forfeit $1.3 million and serve six years in prison. A recent U.S. report said more than 1,000 people have been convicted of defrauding COVID-19 relief programs. (Reuters)
-
Hermès International has asked a Manhattan federal court to block artist Mason Rothschild from promoting or owning his "MetaBirkin" NFTs after a jury found they violate Hermès’' trademark rights in its famous Birkin bags. Hermes asked the court to force him to stop using "Birkin" trademarks and to transfer the MetaBirkins website, the NFTs that he still owns and his income from sales of the tokens since the trial to Hermes, a push Rothschild's attorney Rhett Millsaps called a "gross overreach by Hermès and an attempt to punish Mr. Rothschild because they don’t like his art." (Reuters)
|
Willkie Farr hired Debra Bogo-Ernst, who previously was Mayer Brown’s Chicago head, to lead the firm’s class action litigation practice. Bogo-Ernst at Mayer Brown was co-leader of the consumer and class action group. (Reuters)
Paul Hastings hired international arbitration partner Garreth Wong in London from Shearman & Sterling. Wong leaves after nearly three years at New York-founded Shearman, which last week called off merger talks with Hogan Lovells. (Reuters)
Latham added partners Ian Nussbaum, Abigail Smith and Gabe Fleet. Nussbaum, who is joining the M&A practice in New York, comes from Cooley; Smith, who is joining the capital markets and public company representation practices in D.C.,was with Hogan Lovells; and Fleet, a partner in the connectivity, privacy and information practice, was previously an executive vice president at iHeartMedia. (Reuters)
Linklaters added New York-based partner Marius Griskonis to serve as co-head of the firm’s energy and infrastructure group in the Americas. Griskonis was previously at White & Case. In addition, former Troutman partner Judy Kowk joined Linklaters in New York as an energy and infrastructure partner. (Linklaters)
DLA Piper hired D.C.-based litigation and appellate partner Samantha Chaifetz from the DOJ. (DLA Piper)
Arnold & Porter brought on corporate and finance partner Marina Richter in the firm’s New York office from O’Melveny. (Arnold & Porter)
-
O’Melveny added Robert Wann Jr as a New York-based corporate finance partner from Baker Botts. (O’Melveny)
-
Cozen O’Connor hired data privacy litigators Melissa Siebert and Erin Bolan Hines for its commercial litigation practice group, based out of Chicago. They were previously at Shook Hardy & Bacon. (Cozen)
|
|
|
Sponsors are not involved in the creation of newsletter or other Reuters news content.
Get Reuters News App
Want to stop receiving this newsletter? Unsubscribe here.
To manage which newsletters you're subscribed to, click here.
|
|
|
|