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What’s going on today?
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REUTERS/Bonnie Cash/File Photo
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Rudy Giuliani should be stripped of his law license for his work on a failed lawsuit challenging former President Donald Trump‘s 2020 U.S. election loss in Pennsylvania, a disciplinary board recommended on Friday, David Thomas reports. Read more.
Giuliani, formerly Trump’s personal lawyer and before that, a top Manhattan federal prosecutor and mayor of New York City, tried “to disenfranchise hundreds of thousands of Pennsylvania voters without the slightest factual basis for doing so,” the D.C. Board on Professional Responsibility said in its 63-page report. Read the report.
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REUTERS/Seth Wenig/File Photo
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Trumps found guilty …
Donald Trump became the first U.S. president to be convicted of a crime when a New York jury found him guilty on all 34 counts of falsifying documents to cover up a hush payment to silence a porn star. So what’s next? Judge Juan Merchan must first approve the verdict and enter a final judgment. Merchan set the former U.S. president’s sentencing for July 11, but prison time is rare for people convicted in New York of falsifying business records. Trump says he will appeal his historic conviction, likely to focusing on porn star Stormy Daniels’ salacious testimony, and the judge could lift the gag order barring Trump from speaking publicly about witnesses, jurors and others involved in the case. Looking ahead, despite the conviction, Trump can still pursue his campaign to retake the White House, but he still faces a number of other charges. Here’s what’s next for Trump’s other criminal cases.
Musk’s legal woes …
Elon Musk agreed to testify in the SEC’s probe into his 2022 acquisition of Twitter, now X … A new lawsuit claims Musk ignored repeated warnings about the SEC’s disclosure obligations potentially triggered by his growing stake in Twitter … Meanwhile, Chancellor Kathaleen McCormick in Delaware, who voided Musk’s record $56 billion Tesla pay package, told the plaintiffs that she felt assured Tesla would not use an upcoming shareholder vote to attack her ruling, but what impact will the shareholder vote have? … And proxy advisory firm Glass Lewis urged Tesla shareholders to reject the pay package.
Legal industry …
Former Locke Lord partner Mark Scott said prosecutors failed to prove his involvement in a $400 million fraudulent cryptocurrency scheme … Disbarred attorney David Kagel faces up to five years in prison for his role in a $9.5 million cryptocurrency Ponzi scheme … Elon Musk’s lawyer Alex Spiro avoided sanctions as a defamation lawsuit against the billionaire proceeds … Milberg Coleman Bryson Phillips Grossman said it unknowingly filed fraudulent claims in a $5.6 billion antitrust settlement with Visa and Mastercard … DLA Piper must turn over internal records detailing past pregnancy discrimination complaints in pregnancy bias lawsuit … And, columnist Alison Frankel reports that an FTX examiner’s report reveals lingering exposure for law firm Fenwick & West.
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For the second time this year, the 11th Circuit has accepted the SEC’s expansive view of who must register as securities dealers, handing a setback to industry groups that had urged the appeals court to clarify the distinction between dealers and investment funds that trade securities on their own behalf. Alison Frankel has the story has the story.
Check out other recent pieces from our columnists: Alison Frankel and Jenna Greene
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Additional writing by Kuheli Biswas.
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