Capital Markets

  • December 02, 2025

    Citadel Securities Can't Duck Microchip Patent Claims

    An Illinois federal judge has denied Citadel Securities' attempt to escape a software company's patent infringement claims related to computer microchips, saying she was not convinced that the patents at issue were too abstract to be valid.

  • December 02, 2025

    Three Arrows Boosts $1.5B FTX Claim Tied To Crypto Winter

    The liquidators of defunct crypto hedge fund Three Arrows Capital defended their $1.53 billion claim against FTX months after the failed exchange called it "baseless," telling a Delaware bankruptcy judge that its assets at FTX were sold just weeks before its collapse in what amounts to "classic preference."

  • December 02, 2025

    Precision Aerospace To Go Public Via $320M SPAC Merger

    Precision Aerospace & Defense Group Inc., an engineering and manufacturing supplier to the aerospace, defense and space industries, has agreed to go public through a merger with FACT II Acquisition Corp., a special purpose acquisition company.

  • December 02, 2025

    Twitter Investors Lose Bid To DQ Musk Counsel Spiro

    A California federal judge has denied an attempt by Twitter investors to have Quinn Emanuel Urquhart & Sullivan LLP partner Alex Spiro disqualified from serving as both lead counsel for Elon Musk and a witness in a trial over claims that Musk tried to tank Twitter's stock.

  • December 02, 2025

    MVP: Skadden's Michael Hong

    Michael Hong, a capital markets partner at Skadden Arps Slate Meagher & Flom LLP, helped guide underwriters in a $1.75 billion initial public offering of Venture Global Inc., and represented Acrisure in a $2.1 billion capital raise, earning him a spot as one of the 2025 Law360 Capital Markets MVPs.

  • December 02, 2025

    Crypto-Focused Forward Industries Taps Fintech Vet As GC

    Solana treasury company Forward Industries Inc. has tapped the former chief legal officer of digital broker-dealer Securitize Inc. and top lawyer at crypto-focused Anchorage Digital to serve as its general counsel.

  • December 02, 2025

    SEC's Atkins Pushes To Broaden Small Business Criteria

    U.S. Securities and Exchange Commission Chairman Paul Atkins said on Tuesday that the agency should push to change the definition of small business so that more publicly traded companies can forgo what he considers to be burdensome regulatory requirements.

  • December 02, 2025

    A&O Shearman Corporate Pro Joins Holland & Knight In Texas

    Holland & Knight LLP announced Monday that it has bolstered its corporate, mergers and acquisitions, and private equity practices with a partner in Austin, Texas, who came aboard from Allen Overy Shearman Sterling.

  • December 02, 2025

    'Robo-Adviser' Wealthfront Targets Estimated $450M IPO

    Digital wealth management firm Wealthfront on Tuesday launched plans to raise up to $450 million in its initial public offering, a move that comes after the "robo-adviser" and automated investment tool provider filed confidential plans to go public earlier this summer.

  • December 02, 2025

    FINRA Says Firm Broke Reg BI With Private Placement Sales

    A Manhattan brokerage faces Financial Industry Regulatory Authority claims that it recommended $24 million in investments without a reasonable basis to believe they were in the best interest of its clients, while the firm's CEO was accused of pocketing undisclosed markups and its chief compliance officer allegedly failed to conduct due diligence on the offerings.

  • December 02, 2025

    Santander Scores $472M For 3.5% Stake In Polish Unit

    Banco Santander SA announced Tuesday it sold 3.5% of equity in its Polish subsidiary, Santander Bank Polska, through an accelerated placement that raised roughly PLN 1.72 billion, or about $472 million.

  • December 01, 2025

    Fed Sees Shrinking Number Of Open Exam Findings At Banks

    The Federal Reserve on Monday reported broad declines in open supervisory issues at financial institutions under its oversight during the first half of the year, a shift that comes as the Trump administration is pursuing efforts to rein in examiner criticism of banks.

  • December 01, 2025

    DC Circ. Wonders If SEC Arbitration Decision Was Too Brief

    At least one judge on the D.C. Circuit wondered Monday whether the SEC presented too "bare bones" of an opinion when rejecting a petition to amend three long-running arbitration rules adopted by the Financial Industry Regulatory Authority.

  • December 01, 2025

    Terraform Founder Seeks Five Years At Most For Crypto Fraud

    Terraform founder Do Kwon has asked a Manhattan federal judge to impose no more than five years of imprisonment after he admitted to misleading users about the stability of the crypto project, noting he still has to face "certain future detention in Korea" over the stunning collapse that wiped out $40 billion in value.

  • December 01, 2025

    Robinhood Looks To Block Nevada Sports Wager Order

    Robinhood Derivatives LLC asked a Nevada federal judge to pause state regulators from taking action over the trading platform's sports wagers while it pursues an appeal of a related court order, arguing the case presents important, novel and complex legal questions that warrant appellate review.

  • December 01, 2025

    White House Crypto Czar Hired Clare Locke Amid NYT Probe

    The tech founder-turned-White House crypto and artificial intelligence czar David Sacks has hired defamation specialists at Clare Locke LLP to combat a New York Times investigation into potential conflicts of interest arising from his personal tech investments and role as a White House policy adviser.

  • December 01, 2025

    Ex-NBA Vet Haslem Prepares To Exit Sprawling FTX Litigation

    Longtime Miami Heat forward turned NBA broadcaster Udonis Haslem has reached a settlement with investors over his alleged role in promoting the now-defunct FTX cryptocurrency exchange before its collapse in late 2022.

  • December 01, 2025

    Chancery OKs $9.4M Deal To End Sears Take-Private Suit

    Terming it a settlement that is "easy to approve," a Delaware vice chancellor on Monday OK'd a $9.37 million deal to end a suit contesting investor payouts after a take-private deal for Sears Hometown and Outlet stores in 2019.

  • December 01, 2025

    CFTC's Pham Expands 'Due Process' For Enforcement Targets

    The U.S. Commodity Futures Trading Commission announced changes to its investigation process Monday that the acting chair said are meant to protect the due process rights of those who are accused of wrongdoing by agency attorneys.

  • December 01, 2025

    11th Circ. Reverses Energy Co. Win In Investor Suit

    The Eleventh Circuit has revived a proposed class action against NextEra Energy Inc. seeking to hold the energy company liable for a drop in its share price after political interference allegations emerged against its subsidiary Florida Power and Light Co.

  • December 01, 2025

    Somnigroup Lobs All-Stock Takeover Offer For Leggett & Platt

    Bedding giant Somnigroup International Inc., advised by Cleary Gottlieb Steen & Hamilton LLP, on Monday revealed it had submitted an unsolicited all-stock takeover proposal for Latham & Watkins LLP-advised Leggett & Platt.

  • December 01, 2025

    Venezuela Will Challenge $5.9B Sale Of Citgo Parent

    Venezuela, the country's state-owned oil company and others have appealed a Delaware federal judge's order approving the $5.89 billion sale of Citgo Petroleum's parent company to an affiliate of hedge fund Elliott Investment Management LP, potentially delaying the long-awaited sale of Venezuela's most significant seizable asset.

  • December 01, 2025

    MVP: Simpson Thacher's Hui Lin

    Hui Lin of Simpson Thacher & Bartlett LLP's capital markets practice helped private equity firm Silver Lake complete its $13 billion deal to take sports and entertainment company Endeavor Group Holdings Inc. private, and represented Mars Inc. in its $26 billion senior notes offering, earning her a spot as one of 2025 Law360 Capital Markets MVPs.

  • December 01, 2025

    Catching Up With Delaware's Chancery Court

    The Delaware Chancery Court saw a slate of corporate law clashes this past week, from fast-moving injunction fights in consumer product and real estate markets to multibillion-dollar oversight claims against crypto executives and fresh battles over control for two sports teams.

  • December 01, 2025

    2 Firms Steer Construction Services Firm's $242M IPO

    Construction services firm Cardinal Infrastructure Group Inc., guided by Willkie Farr & Gallagher LLP, set a price range for an estimated $242 million initial public offering on Monday, and the IPO is being backed by lead underwriters Stifel Nicolaus & Co. Inc. and William Blair & Co. LLC, advised by Latham & Watkins LLP.

Expert Analysis

  • Assessing The SEC's Changing Approach To NFT Regulation

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    Early U.S. Securities and Exchange Commission actions on nonfungible tokens pushed for broad regulation, but subsequent court decisions — including a recent California federal court ruling in Adonis Real v. Yuga Labs — and SEC commissioners' statements have narrowed the regulatory focus toward a more fact-specific approach, say attorneys at Wilson Elser.

  • Where Crypto Mixing Enforcement Is Headed From Here

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    Recent developments involving crypto mixers, particularly the Tornado Cash verdict, demonstrate that the Justice Department's shift away from regulation by prosecution does not mean total immunity, rather reflecting an approach that prioritizes both innovation and accountability, says David Tarras at Tarras Defense.

  • Why Foreign Cos. Should Prep For Increased SEC Oversight

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    With the recent trading suspensions of 10 foreign-based issuers listed on the Nasdaq, an enforcement action against a U.K. security-based swap dealer and the announcement of a cross-border task force, it's clear that the U.S. Securities and Exchange Commission will expand oversight on foreign companies participating in the U.S. capital markets, says Tejal Shah at Cooley.

  • How Nasdaq, SEC Proposals May Transform Listing Standards

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    Both Nasdaq and the U.S. Securities and Exchange Commission have increasingly focused their recent regulatory efforts on small and foreign issuers, particularly those from China, reflecting an intention to strengthen the overall quality of companies accessing U.S. markets, but also potentially introducing a chilling effect on certain issuers, say attorneys at Norton Rose.

  • Series

    Building With Lego Makes Me A Better Lawyer

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    Building with Lego has taught me to follow directions and adapt to unexpected challenges, and in pairing discipline with imagination, allows me to stay grounded while finding new ways to make complex deals come together, says Paul Levin at Venable.

  • How Banks Can Safely Handle Payments For Gambling Biz

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    As the betting market continues to expand, it's crucial for banks and fintechs to track historical developments in wagering and ongoing prediction markets litigation that can factor into a risk analysis for payment processing with respect to gambling operators, says Laura D'Angelo at Jones Walker.

  • SEC Focused On Fraud As Actions Markedly Declined In 2025

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    The U.S. Securities and Exchange Commission's enforcement activity in its fiscal year 2025 was its lowest in 10 years, reflecting not only a significant decline in the commission's workforce, but also Chairman Paul Atkins' stated focus on fraud and individual wrongdoing and a new approach to crypto regulation, say attorneys at Covington.

  • Series

    Law School's Missed Lessons: Networking 101

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    Cultivating a network isn't part of the law school curriculum, but learning the soft skills needed to do so may be the key to establishing a solid professional reputation, nurturing client relationships and building business, says Sharon Crane at Practising Law Institute.

  • Defeating Estoppel-Based Claims In Legal Malpractice Actions

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    State supreme court cases from recent years have addressed whether positions taken by attorneys in an underlying lawsuit can be used against them in a subsequent legal malpractice action, providing a foundation to defeat ex-clients’ estoppel claims, says Christopher Blazejewski at Sherin and Lodgen.

  • A Look At State AGs' Focus On Earned Wage Products

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    Earned wage products have emerged as a rapidly growing segment of the consumer finance market, but recent state enforcement actions against MoneyLion, DailyPay and EarnIn will likely have an effect on whether such products can continue operating under current business models, say attorneys at Quinn Emanuel.

  • Digital Asset Treasury Trend Signals Wider Crypto Embrace

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    While digital asset treasuries are not new for U.S. public companies, the recent velocity of capital deployment in such investments has been notable, signaling a transformation in corporate treasury management that blurs the lines between traditional finance and the broader crypto ecosystem, say attorneys at DLA Piper.

  • Series

    The Biz Court Digest: How It Works In Massachusetts

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    Since its founding in 2000, the Massachusetts Business Litigation Session's expertise, procedural flexibility and litigant-friendly case management practices have contributed to the development of a robust body of commercial jurisprudence, say James Donnelly at Mirick O’Connell, Felicia Ellsworth at WilmerHale and Lisa Wood at Foley Hoag.

  • How The SEC May Overhaul Its Order Protection Rule

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    Attorneys at Skadden trace the evolution of the controversial Rule 611 of Regulation National Market System, examine the current debate surrounding its effectiveness, and consider how the U.S. Securities and Exchange Commission's emerging Project Crypto initiative could reshape Regulation NMS for a tokenized, on-chain market environment.

  • Why Appellees Should Write Their Answering Brief First

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    Though counterintuitive, appellees should consider writing their answering briefs before they’ve ever seen their opponent’s opening brief, as this practice confers numerous benefits related to argument structure, time pressures and workflow, says Joshua Sohn at the U.S. Department of Justice.

  • Questions To Ask Your Client When Fraud Taints Financing

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    As elevated risk levels yield fertile conditions for fraud in financing transactions, asking corporate clients the right investigative questions can help create an action plan, bring parties together and help clients successfully survive any scam, says Mark Kirsons at Morgan Lewis.

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