The gusher of energy-related issuances continued Friday as Texas-based oil field services firm Select Energy Services Inc. tapped public markets for $122 million in an offering guided by Vinson & Elkins LLP and Baker Botts LLP.
Plaintiffs’ law firms were hard at work representing institutional investors and individual shareholders in 2016, with the top 50 firms raking in a combined $7.23 billion in class action settlements over the course of the year, according to a new report released Thursday.
Nine firms will guide eight initial public offerings scheduled to price during the week of April 24, estimated to raise nearly $1.3 billion for a diverse range of companies and potentially ending the year’s busiest month to date with a bang.
Jones Day has hired a former Bracewell LLP partner and capital markets attorney for its Houston office, an addition that the global law firm said will bolster its practice.
With the guidance of law firm Baker McKenzie, Global Ports Holding, reported to be the world's largest independent cruise port operator by number of ports and passenger volume, will launch a $250 million initial public offering of stock on the London Stock Exchange.
The CEO of two metals dealers that were ordered to pay $2.4 million for illegal, off-market trades asked a Florida federal court Thursday to sanction the U.S. Commodity Futures Trading Commission, saying the agency filed a “Hail Mary” contempt motion in an “ongoing campaign to harass” him.
A California federal judge ruled on Thursday that a husband and wife netted in an EB-5 investor scheme must pay back nearly $27 million that they owe investors for planning a cancer treatment center that they never built.
The number of enforcement actions brought by the U.S. Securities and Exchange Commission over issuer reporting and disclosure jumped by a third, to 59, in the first half of the agency’s 2017 fiscal year, according to a report released on Thursday by economic and financial consulting firm Cornerstone Research.
President Donald Trump on Friday signed executive orders calling for reviews of powers the Dodd-Frank Act gave regulators to unwind a giant bank and a panel of regulators the 2010 law set up to oversee the financial system.
The European Commission closed an investigation into alleged price-fixing by several ethanol companies due to a lack of "community interest," a spokesperson confirmed Thursday, but said a probe into possible industry benchmark manipulation by a trio of ethanol producers is still in progress.
The U.S. Securities and Exchange Commission is issuing fewer but more focused comments on initial public offering submissions, according to new data from Proskauer Rose LLP, continuing a multiyear downward trend that capital markets lawyers say is producing a more streamlined IPO process.
BlackRock and other investors in a proposed class action against Wells Fargo over its alleged bungling of $1.2 billion in mortgage-backed securities asked a New York federal judge Wednesday to rein in the bank’s discovery requests, claiming it is demanding documents that are either irrelevant or too burdensome to produce.
Deutsche Bank AG and affiliates will pay $156.6 million to settle two Federal Reserve probes that found the bank fell short of Volcker Rule oversight requirements and let its traders rig foreign exchange rates, the regulator said Thursday.
A 26-year-old who conned investors out of $1.6 million with claims he had developed his own trading algorithms and was reaping huge returns admitted it was all a lie Thursday when he pled guilty to running a small Ponzi scheme with the investors' cash.
The Federal Reserve’s new lead governor for regulations on Thursday said that although there are areas of the bank regulatory rule book that should be revised, he wants to see the enhanced capital and other core post-financial crisis reforms remain in place.
High-frequency trading firm Virtu Financial said it would buy smaller rival KCG Holdings Inc. for $1.4 billion in cash on Thursday, giving the firm access to its counterpart’s institutional client base and expanding the reach of the two New York-based firms.
The estate of the CEO of the company known for its employment website monster.com escaped a $41 million tax deficiency notice on Wednesday when the U.S. Tax Court ruled that contract extensions for exchanging stocks with two investment banks did not result in capital gains.
The Commodity Futures Trading Commission asked a California federal judge Wednesday to freeze the assets of a foreign exchange company and its husband-and-wife owners after they allegedly took $1.7 million from investors and then tried to cover up bad trades and transfers to themselves with phony account statements.
Ingredient company Bunge North America Inc. agreed to turn over information Kraft Foods Group Inc. sought as part of the U.S. Commodity Futures Trading Commission's case over Kraft's alleged manipulation of the wheat market, Kraft said in a filing in Illinois federal court Wednesday.
Commerzbank AG urged a New York judge on Tuesday not to rethink his allowing its claims over the Bank of New York Mellon’s oversight of residential mortgage-backed securities to proceed, saying BNY Mellon cannot point to anything the judge overlooked.
A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.
The U.S. Supreme Court's questioning on Tuesday appeared to favor Kokesh’s position that the five-year statute of limitations applies to U.S. Securities and Exchange Commission disgorgement claims. The decision could meaningfully limit the uncertainty, expense and evidentiary disadvantages faced by entities and individuals responding to SEC investigations into conduct dating back more than five years, say attorneys with Ropes & Gray LLP.
Theoretically, both better data and its better use should be able to improve results in litigation, and thus help litigation financiers allocate more capital to meritorious matters. However, while big data and artificial intelligence are intriguing additions to the litigation toolkit, they are far from turning litigation finance on its head, says Christopher Bogart, CEO of Burford Capital LLC.
It's no longer enough for law firms simply to provide expert legal advice — we are expected to mirror clients' legal, ethics and social commitments and promises. For law firm GCs, the resulting job demands seem to grow exponentially, says Peter Engstrom, general counsel of Baker McKenzie.
Arguments before the U.S. Supreme Court this week in California Public Employee Retirement System v. ANZ Securities were notable for CalPERS’ focus on appealing to the court’s textualists. The case was argued on Justice Gorsuch’s first day on the bench by two of the court’s most well-credentialed advocates, say attorneys with Mintz Levin.
Puerto Rico faces difficult choices regarding how to address the substantial cost and massive underfunding of its public pension systems. Title III is likely the best option available to the commonwealth to adjust its public pension obligations as part of the larger effort to address its current fiscal crisis, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
Increasingly, we see companies in all industries seeking to perform various levels of due diligence on our information security defenses. We received three times as many diligence requests from clients and prospective clients in 2016 as we did in 2015. Some clients even conduct their own penetration tests, says Thomas White, general counsel of WilmerHale.
What happens when attorneys come to their general counsel’s office with knowledge of a potential positional conflict? While the inquiry will depend on the rules governing the particular jurisdiction, there are a few general questions to consider from both business and legal ethics perspectives, say general counsel Nicholas A. Gravante Jr. and deputy general counsel Ilana R. Miller of Boies Schiller Flexner LLP.
Regardless of where we live and practice, regardless of whether trade deals succeed or fail, and regardless of whether the movement of people or capital is easy or difficult, our clients will still have needs or problems far away from home, says John Koski, global chief legal officer at Dentons.
If Time Magazine is correct in that being a lawyer is one of the five worst high-paying jobs, it may be time for the legal profession to pull one from the playbook of musicians and professional athletes and seek to enter a state of “flow,” says Jennifer Gibbs of Zelle LLP.