🧩 Duane Morris agrees in principle to settle partner-pay suit
PLUS: Anthropic buys cloud capacity and a shot at equity
September 25, 2026
Lookzy: all your daily legal news in 0.1 billable hours. Plain English coverage of deals, litigation and legal trends trusted by lawyers at Cravath, Latham, Skadden, Gunderson and elsewhere.
Welcome to Lookzy. In today's Lookzy:
Duane Morris agrees in principle to settle its non-equity partner suit
A religious charter school gets another opening in Oklahoma
Anthropic's $11.6 billion cloud deal comes with an equity warrant
One wrong attachment exposes roughly 140 deals and pitches
THE VERDICT
Arguing today's litigation news
Stablecoins need backing. On the back of reporting that the Treasury may want to promote the use of dollar-denominated stablecoins globally, the Federal Reserve put out for comment its rules implementing the GENIUS Act. The proposed GENIUS Act rules also cover capital, custody and applications by Fed-supervised banks to issue stablecoins. Comments are due 60 days after publication in the Federal Register.
Religious charters get another chance. A Jewish school foundation can pursue Oklahoma charter status under a preliminary injunction barring its exclusion solely because it is religious. U.S. District Judge David Russell's order lets National Ben Gamla Jewish Charter School Foundation seek approval despite a state law requiring charter schools to be nonsectarian. It reopens a path to the country's first taxpayer-funded religious charter school after the Supreme Court split 4-4 in a similar case last year.
Roblox's design problem. Roblox failed to get Los Angeles County's lawsuit over alleged child-exploitation risks and deceptive safety marketing dismissed under Section 230. The claims target the company's own age-verification choices, rather than users' posts. Los Angeles Superior Court Judge Dean Kitchens also found those choices weren't protected expression under California's anti-SLAPP law. Roblox separately faces more than 180 individual suits and is trying to send individual cases to arbitration.
THE DEAL
Wheelin' and dealin' today's corporate news
Cloud customer, potential shareholder. Anthropic committed about $11.6 billion over seven years for Akamai cloud capacity and support, with an equity warrant included in the deal. The warrant covers nonvoting preferred shares convertible into up to about 5% of Akamai's common stock. A portion equivalent to roughly 2% is expected to vest with the announced commitment. Another 3% could vest if Anthropic adds $9 billion in business, which it hasn't committed to yet. Freshfields advised Akamai; Davis Polk advised Anthropic.
Capricorn switches back. Oil-and-gas company Capricorn's board is back behind Genel in its bidding war with fellow energy company DNO, the board's second change of recommendation. Genel's revised cash offer still needs shareholder approval. At about $436 million, including a special dividend, it tops DNO's $396 million bid by roughly 10%.
BOILERPLATE
Partner or employee? Duane Morris agreed in principle to settle former partner Meagan Garland's proposed class action claiming the firm treated non-equity partners as owners when it came to payroll taxes and benefits, without giving them a share of profits. Garland alleged these partners could be fired at will and had to pay both sides of payroll taxes and their own benefits. The firm denied wrongdoing and said she was a genuine partner. Settlement terms are still being finalized and haven't been disclosed.
The wrong attachment. A senior Morgan Stanley banker accidentally attached the bank's Asia financial-sponsors deal pipeline to a weekly client email, exposing the existence or status of roughly 140 live, pitched or paused transactions. The banker recalled the email and asked recipients to delete it, but clients sought explanations and at least two regulators began assessing the fallout, Bloomberg reported.
Alright, back to billing. That's all, folks!
