Less than 1: AM Edition, June 26

This morning on Less than 1: a federal judge declares a mistrial in the Palisades Fire arson case — prosecutors say they will retry. Also: a Santa Barbara attorney unseats one of California's longest-serving trial judges in a rare contested judicial election. And: Governor Newsom signs the rideshare compromise bill, keeping dueling Uber and CAOC ballot measures off the November ballot. Plus: OpenAI pumps the brakes on its IPO, John Bolton pleads guilty to mishandling classified documents, and the FDIC proposes to ease resolution planning requirements for large banks. Stories mentioned in this episode: (NYT) OpenAI Leans Toward Waiting Until Next Year for I.P.O. https://www.nytimes.com/2026/06/25/technology/openai-ipo-artificial-intelligence.html (ABA Banking Journal) FDIC seeks to ease large bank resolution planning requirements https://bankingjournal.aba.com/2026/06/fdic-seeks-to-ease-large-bank-resolution-planning-requirements/ (Reuters) Trump adviser-turned-critic John Bolton pleads guilty to mishandling classified documents https://www.reuters.com/legal/government/trump-adviser-turned-critic-john-bolton-plead-guilty-classified-info-case-2026-06-26/