News & Insights

The SEC’s recent enforcement action against Madison Capital Funding LLC highlights a clear and evolving priority: valuation is not merely an outcome, but a process subject to ongoing scrutiny – especially during periods of market disruption. In a recent Law360 article, Michael Longyear and Caleb Ellis detail how the Commission imposed significant penalties without alleging...

When a client uses a generative AI platform to prepare materials for discussions with counsel in a litigation preparation context, are those materials protected by the attorney-client privilege or the work product doctrine? In United States v. Heppner, Judge Jed S. Rakoff of the Southern District of New York answered with a categorical no. The ruling...

On March 10, 2026, the Department of Justice (DOJ) issued a revised Corporate Enforcement and Voluntary Self-Disclosure Policy (CEP). The policy governs how the DOJ resolves criminal investigations of corporations. It thereby creates a framework that directly shapes the legal exposure of the executives and employees inside those companies. Understanding how the CEP works, and...

A dormant federal law just became relevant again — and the penalties are severe.  In their newest Law360 article, Michael Longyear, Jillian Berman and Cindy Kuang analyze recent developments concerning the Continuing Financial Crimes Enterprise statute.  Take note, private credit lenders, C-suite executives, and white-collar defense attorneys. The U.S. Attorney’s Office for the Southern District...

AI-generated evidence is coming to the federal courts– and machines cannot be cross-examined. The Judicial Conference’s Advisory Committee on Evidence Rules has released a proposed Federal Rule of Evidence 707 to regulate the admissibility of machine-generated evidence in federal courts. That includes AI-outputs. Algorithmic tools are becoming more common in criminal investigations and civil litigation. ...