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As the "Great Wealth Transfer" unfolds, family business owners face critical legal decisions in connection with a sale transaction that can determine whether a deal closes smoothly or is derailed as a result of preventable issues. This piece outlines three critical legal considerations for family business owners preparing for a sale, from understanding purchase price mechanics and the closing process to navigating due diligence. Grasping these concepts, processes and risks will streamline a transaction, maximize the enterprise value of the business and minimize closing risk.

The explosive growth of artificial intelligence (AI), cloud computing and digital infrastructure has created unprecedented demand for data center development. Developers and investors are increasingly focused on assembling land parcels in strategic locations to accommodate large-scale data center projects.

A new working paper from the Board of Governors of the Federal Reserve’s (Federal Reserve) Finance and Economics Discussion Series (FEDS) provides the most rigorous empirical validation to date of prediction markets as a tool for measuring macroeconomic expectations. The February 12 paper systematically compares prediction market-implied forecasts against established benchmarks, including the Bloomberg consensus estimates and data, the Federal Reserve Bank of New York’s Survey of Market Expectations, and federal funds futures. The central finding: prediction markets perform as well as, and in some cases better than, the traditional forecasting instruments that central banks and market participants have relied on for decades.

About two years ago, the Supreme Court held that Section 10(b) and Rule 10b-5(b) did not prohibit "pure omissions." Rather, it prohibits making an "untrue statement of material fact  or [] omit[ting] to state a material fact necessary in order to make statements made . . . not misleading."  Macquarie Infrastructure Corp. v. Moab Partners, L.P, 144 S. Ct. 885, 888 (2024) (quoting Rule 10b-5(b) (emphasis added)). The Supreme Court accurately described the second portion of Rule 10b-5(b)—the portion italicized—as prohibiting "half-truths."  Id. at 890.  The Court described half-truths as
"representations that state the truth only so far as it goes, while omitting critical qualifying information."  Id. at 891.

On January 13, 2026, United States Securities and Exchange Commission (SEC) Chairman Paul Atkins issued a statement in which he broadly noted that the disclosure requirements of Regulation S-K do not always yield "information that a reasonable investor would consider important in making an investment or voting decision." In light of that, Chairman Atkins instructed the Division of Corporation Finance to pursue a comprehensive review of Regulation S-K, which is well under way, and includes an open request for public comment on ways to amend Regulation S-K.