Keep your finger on the legal world's pulse

The Supreme Court has ruled in favor of Ali Hemani, a Texas marijuana user who argued that the law barring individuals who use drugs illegally from possessing guns violated the U.S. constitution’s Second Amendment. Hemani wasn't charged with any other crimes or accused of using the weapon under the influence. Justice Neil M. Gorsuch, speaking for the court, said the law was far too broad and overly harsh. “The law automatically bans an individual from possessing a gun from the moment he becomes an unlawful user of any controlled substance until he ceases being one,” he wrote. “It doesn't matter what controlled substance an individual uses, in what amounts he does so, or whether his drug use has ever made him a danger to himself or others.” Cecillia Wang, legal director at the American Civil Liberties Union, welcomed the ruling. “Today's unanimous 9-0 decision makes it clear that the government cannot make it crime for people to own a gun, which the Supreme Court has held is a fundamental constitutional right, simply because they use marijuana,” she said. “With nearly half of Americans reporting marijuana use at some point in their lives, this ruling protects the rights of millions and curbs the government's ability to impose arbitrary and discriminatory penalties.”

 

CNBC

Los Angeles Times

NPR / National Public Radio

U.S. News

Rhode Island’s Supreme Court has amended its professional conduct rules and issued guidance on the use of generative AI as the technology spreads in the legal industry. The ​new guidelines, which are advisory, say lawyers must independently review and verify AI-generated ⁠work, and caution that such tools can “hallucinate” legal citations or mischaracterize legal precedent. Lawyers licensed in the state are required to stay up to date on changes in the ​law “including the benefits and risks associated with existing and developing technology."

 

Reuters

Outgoing CME Group chief executive Terry Duffy has told CNBC that the exchange operator will sue the Commodity Futures Trading Commission over ‌its approval for perpetual futures. Duffy, who announced his plans to step down from his role next year, has been critical of so-called "perps," which are listed derivatives without an expiration date that allow traders to maintain positions indefinitely without the need to roll ​over contracts. "I'm always up for a good battle. I've never shied away from ​one," Duffy said.

 

CNBC

President Donald Trump has reached a settlement with his niece, Mary Trump, in a $100m lawsuit alleging she participated in a scheme with The New York Times to disclose confidential tax and financial records used in the newspaper’s Pulitzer Prize-winning 2018 investigation into his finances. The parties informed the court that they have agreed to settle the case and expect to dismiss it with prejudice after completing certain conditions, preventing any future claims on the matter. Financial terms of the settlement were not disclosed. Trump originally sued Mary Trump, The New York Times, and three reporters in 2021, claiming they conspired to obtain and publish confidential records in violation of a 2001 confidentiality agreement. Claims against the newspaper and its journalists were dismissed in 2023, with Trump ordered to pay nearly $400,000 in legal costs.

 

The Hill

US News and World Report

The National Treasury Employees Union (NTEU) has launched a lawsuit against the IRS, alleging the agency has unlawfully removed union materials from common areas and employee workstations. The action follows the IRS's termination of a contract with NTEU, prompted by an executive order from President Trump that curtailed collective bargaining rights at over 20 federal agencies. NTEU President Doreen Greenwald said: "NTEU will not stand for the Administration's effort to retaliate against us for our advocacy." The lawsuit highlights instances of IRS officials removing NTEU flyers, particularly at a Kansas City facility, where aggressive actions against union materials were reported. The IRS has faced staffing challenges, having reduced its workforce by about 28% due to cutbacks and buyouts.

 

Accounting Today

Amazon may face a ​U.S. Federal Trade Commission (FTC) lawsuit that could result ‌in civil penalties, following allegations that the e-commerce giant misled advertisers, The FTC has a possible ​complaint against Amazon as part of an ongoing ​investigation, Bloomberg has reported, citing people familiar with the ⁠matter. Several state attorneys general are also participating. The probe is focused in part on whether Amazon properly disclosed the terms and pricing related to its ads, including "sponsored listings" or "sponsored ads" that users see on Amazon's marketplace.

 

Bloomberg

The Securities and Exchange Commission (SEC) is preparing a new policy that would allow crypto companies to offer blockchain-based ​stocks. Crypto sector advocates say blockchain-based instruments that track traditional equities have the potential to revolutionize stock markets by enabling shares to ‌be traded round the clock and settled instantly, boosting liquidity and reducing transaction costs. SEC chair, Paul Atkins, could announce an "innovation exemption" soon, Reuters reports. He has said this would allow companies to experiment with new digital asset business models without needing to comply with all of the SEC's disclosure and investor-protection rules.

 

Reuters

The Trump administration is to pay Chicago-based power producer Invenergy $765m to withdraw from four U.S. wind leases and invest instead in geothermal and fossil fuel projects. Under the agreement, Invenergy will “voluntarily terminate” its leases off the coast of Morro Bay, in the New York Bight, and two off the Gulf of Maine, and instead redirect the millions toward natural gas-fired power plants in Indiana, Wisconsin, Iowa, Kansas and Missouri and geothermal power generation projects in the western U.S., according to the U.S. Department of Energy.

 

Financial Times

Los Angeles Times

Bill Nelson has joined Latham & Watkins as a partner in its capital markets and public company representation practices in Houston. Previously with A&O Shearman for nearly eight years, Nelson specializes in representing public and private issuers, investment banks, and private equity sponsors in complex capital markets transactions and corporate governance matters. 

 

Bloomberg Law

China has vowed to embed anti-sanctions provisions into its financial laws to block and counter what Vice Premier He Lifeng described as unreasonable foreign suppression. He said authorities would push to add similar provisions into other financial legislation, expanding what he called China’s “financial legal toolbox.” Bloomberg says the comments by the vice premier underscore how China is bolstering its legal defenses against foreign economic pressure, following a first-ever blocking order last month and new rules to counter "improper extraterritorial jurisdiction by foreign countries."

 

Bloomberg

A former Nigerian oil minister has been cleared of taking bribes from wealthy oil ​and gas industry figures seeking lucrative contracts in Nigeria. Diezani Alison-Madueke was found not guilty after a trial at London's Southwark Crown Court of five counts of accepting bribes and a charge of conspiracy to commit bribery. Alison-Madueke was Nigeria's oil minister between 2010 and 2015 and the one-time president of oil cartel Opec. Her acquittal is a blow for the U.K.'s National Crime Agency (NCA), which had been investigating her for 13 years. "This case has exposed just how tough it is to investigate and prosecute alleged corruption involving political elites," said Zainab Saleem from campaign group Spotlight on Corruption. Alison-Madueke's lawyers argued the spending cited by the prosecution was reimbursed, by the Nigerian state for official business or by herself for personal ​expenses.

 

Barron's

Financial Times

Reuters

BBC News

Starbucks Korea will close all of its stores nationwide at 3 p.m. on June 22nd to allow employees to participate in mandatory history and social sensitivity training after a marketing campaign sparked accusations that it mocked victims of South Korea’s 1980 Gwangju pro-democracy uprising. The controversy centered on a promotion for “SS Tank” tumblers that branded May 18 as “Tank Day,” a date that coincides with the anniversary of the military crackdown in Gwangju, in which troops, tanks, and helicopters were deployed against protesters. The campaign also used a slogan that critics linked to the cover-up of the 1987 torture death of student activist Park Jong-chol. Starbucks Korea’s parent company, Shinsegae Group, canceled the promotion within hours, dismissed the chain’s chief executive, issued a public apology, and announced company-wide training aimed at preventing similar incidents in the future.

 

The Seattle Times

The Guardian