Business & Practice

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

For the first time in the state’s history, the New Jersey Supreme Court has issued ethics rules commanding members of the bar to not have sexual relationships with clients.

US Supreme Court Justice Elena Kagan said criticisms of the court being a “rubber stamp” for the Trump administration are overblown, citing last term’s decisions striking down tariffs and upholding birthright citizenship.

An IRS program meant to coax tax evaders into coming forward is getting a revamp with digital asset transactions in mind.

Digital-asset finance is moving beyond the industry’s experimental phase as Wall Street’s largest trading firms deepen their ties with crypto companies.

Matt Levine discusses a sports index, people being worried about the basis trade, the Truth API, and 10b5-1 plans.

Kroll Restructuring Administration LLC should be able to arbitrate or toss would-be class claims over a 2023 data breach affecting customers in three large cryptocurrency business bankruptcies, a magistrate judge recommended.

A fight is already brewing in Congress over an effort to curb President Donald Trump’s ability to personally oversee his digital asset ventures.

BitMEX, the exchange that was first to offer the highly leveraged Bitcoin derivatives that have become a mainstay of crypto trading, is shuttering as a prolonged downturn roils the industry.

Spiking energy prices, more US tariffs and mushrooming spending on artificial intelligence are reawakening investors’ inflation fears.

The European Union escalated a probe against TikTok under its content moderation rulebook, accusing the social network of failing to protect the safety and privacy of teen users.

Universities and companies are scaling back or eliminating women’s scholarships as a way to avoid scrutiny from the Trump Administration, even though officials haven’t explicitly barred single-sex scholarships.

California’s restrictions on mandatory anti-union meetings at work are proving more vulnerable to legal challenges than other states’ laws, which are escaping court scrutiny thanks to fuzzy or limited enforcement schemes.

From sovereign bonds to modern banking, debt is one of humanity’s most elegant and misunderstood creations.

AI’s economic impacts may include more inequity and job dislocations and losses. A higher corporate rate would raise substantial revenue from the wealthy without stifling innovation or growth, writes Center on Budget and Policy Priorities’ Chuck Marr.

The European Union escalated a probe against TikTok under its content moderation rulebook, accusing the social network of failing to protect the safety and privacy of teen users.

Chinese officials are seeking clarity from Washington on what the US expects from upcoming artificial intelligence talks, according to people familiar with the matter, as the Trump administration escalates pressure on China’s fast-rising AI sector.

A teenage boy’s last-minute decision to withdraw his social media addiction lawsuit against Meta Platforms Inc. before trial is a setback for the sprawling litigation playing out in the Los Angeles court that saw early success with a jury awarding $6 million to a 20-year-old girl.

While the US Supreme Court’s decision in Chatrie v. United States answers the geofence threshold question (a warrant is required), disputes over geofence warrants aren’t over, write Jenner & Block’s Laurel Raymond and Adam Unikowsky.

The Justice Department on Thursday lost its 17th consecutive lawsuit at the trial court level in its bid to obtain states’ unredacted voter rolls, with a federal judge ruling for Kentucky officials who refused to turn theirs over.

The Trump administration on Thursday was denied its bid to toss a court order requiring that a Georgetown University scholar be released from immigration detention.

Appellate lawyer Daniel Geyser, who led the Supreme Court practice for Haynes Boone, has joined HSF Kramer to helm a similar group, the firm said Friday.

California’s restrictions on mandatory anti-union meetings at work are proving more vulnerable to legal challenges than other states’ laws, which are escaping court scrutiny thanks to fuzzy or limited enforcement schemes.

A teenage boy’s last-minute decision to withdraw his social media addiction lawsuit against Meta Platforms Inc. before trial is a setback for the sprawling litigation playing out in the Los Angeles court that saw early success with a jury awarding $6 million to a 20-year-old girl.

While the US Supreme Court’s decision in Chatrie v. United States answers the geofence threshold question (a warrant is required), disputes over geofence warrants aren’t over, write Jenner & Block’s Laurel Raymond and Adam Unikowsky.

AI’s economic impacts may include more inequity and job dislocations and losses. A higher corporate rate would raise substantial revenue from the wealthy without stifling innovation or growth, writes Center on Budget and Policy Priorities’ Chuck Marr.

The government may have trouble proving defendants’ knowledge in cases alleging False Claims Act liability based on supposed DEI or other civil rights related violations, Covington attorneys say.