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Capital Markets

  • June 18, 2018

    Proskauer Called ‘Conflicted’ In Sale Leaving $15M Tax Bill

    Proskauer Rose LLP was “hopelessly conflicted” when it advised a holding company in a sale to The Diversified Group Inc. nearly two decades ago that left trustees with a $15 million tax bill, the company said in a recent suit filed in New Jersey.

  • June 18, 2018

    Baker Botts Attracts Capital Markets Partner In Houston

    Baker Botts LLP has added a former Kirkland & Ellis LLP attorney as a capital markets partner with a focus on debt and equity capital markets transactions, corporate governance and compliance in Houston, the firm announced Monday.

  • June 18, 2018

    In Their Own Words: Minority Partners On Reaching The Top

    Despite decades of industrywide initiatives, movement up the ladder has stagnated for minority lawyers. Here, five industry success stories tell Law360 about the paths they took and what needs to change in BigLaw.

  • June 18, 2018

    JPMorgan To Pay CFTC $65M Over ISDAfix Rigging

    The Commodity Futures Trading Commission said Monday that banking giant JPMorgan Chase has agreed to pay a $65 million civil penalty for allegedly trying to manipulate a global benchmark tied to an array of interest-rate related derivative products such as swaps and options.

  • June 18, 2018

    $340M Ch. 11 Sale Of Nine West, Bandolino Brands Approved

    Nine West Holdings Inc. received bankruptcy court approval on Monday to sell its namesake women’s fashion business as well as its Bandolino brand to Authentic Brands Group for $340 million in cash, a sum nearly 75 percent higher than the purchaser’s stalking horse bid.

  • June 18, 2018

    SEC Delays Action On NYSE Venue Plan To List Bitcoin ETFs

    The U.S. Securities and Exchange Commission delayed deciding on a rule change submitted by a New York Stock Exchange venue seeking to list its first two exchange-traded funds based on the value of bitcoin, saying it needs more time to review the proposal.

  • June 18, 2018

    Former State Street Exec Mulls Testifying In His Fraud Trial

    A former head of global asset transitions at State Street's Boston headquarters will decide, potentially with less than 24 hours' notice, whether to take the stand this week to rebut charges that he hid millions of dollars in fees from some of the bank's biggest clients, his attorney said in federal court Monday.

  • June 18, 2018

    High Court Agrees To Review Banker's Copy-Paste Fraud

    The U.S. Supreme Court agreed on Monday to review a D.C. Circuit decision finding that an investment banker who copied and pasted his boss' allegedly fraudulent email about an energy investment into a message to clients is himself liable for fraud.

  • June 15, 2018

    Minority Lawyers On Why They Left BigLaw

    Despite the proliferation of diversity committees and inclusion initiatives, corporate law firms remain overwhelmingly white and male, especially at leadership levels. Here, minority attorneys discuss their reasons for leaving a large firm.

  • June 15, 2018

    Taking On The ‘Petri Dish’ Of BigLaw Bias

    The often-informal processes for deciding matters like compensation at law firms can create, as one expert put it, a “petri dish” for the effects of unconscious bias. Here’s how some firms are looking to shake up the system.

  • June 15, 2018

    The Best Firms For Minority Attorneys

    While U.S. law firms have long vowed to make their ranks more diverse and inclusive, the industry has long failed to deliver on those promises. Here are the firms making some headway, according to this year’s Diversity Snapshot.

  • June 15, 2018

    Law360’s Diversity Snapshot: By The Numbers

    Efforts to increase diversity have again yielded few meaningful changes in law firm demographics, according to Law360’s annual headcount survey, even as law schools continue to enroll students of color in increasing numbers.

  • June 15, 2018

    Law360’s Pro Say: What BigLaw Should Do About Diversity

    For years law firms have had programs aimed at increasing attorney diversity, but nothing is working. On this week’s Pro Say podcast we take a look at our latest survey of diversity at law firms, and unpack what experts say are the things that could actually move the needle on this issue.

  • June 15, 2018

    JPML Bundles CBOE Index Manipulation Suits In Chicago

    The Judicial Panel on Multidistrict Litigation on Thursday sent several suits alleging an unlawful manipulation of the Chicago Board Options Exchange's volatility index to Chicago federal court, saying the move will ensure efficiency and consistency while litigating the case’s complex issues.

  • June 15, 2018

    NJ Advisory Firm Loses Registration Over Phony Securities

    New Jersey’s securities enforcement unit revoked a Morris County investment firm’s registration on Friday after its owner sold $6.1 million in unregistered securities to elderly and retired residents and took money from the sales for personal use.

  • June 15, 2018

    Deals Rumor Mill: DWF, LyondellBasell, Qualcomm

    Manchester-based law firm DWF is gearing up for a potential £1 billion IPO, LyondellBasell Industries is in exclusive talks to buy a controlling stake in Brazil-based petrochemicals business Braskem, and reports of Chinese approval for Qualcomm's $44 billion proposed takeover of NXP Semiconductors were premature.

  • June 15, 2018

    10 Firms To Steer Biotech-Heavy IPO Lineup Exceeding $1B

    Ten firms are slated to guide 10 initial public offerings projected to raise about $1.3 billion during the week of June 18, representing a lineup dominated by biotechnology issuers plus a real estate investment trust as IPO season hits a busy stretch before the July 4 holiday.

  • June 15, 2018

    Fed Board OKs Credit Exposure Limits For Big Banks

    The Federal Reserve Board signed off Thursday on a rule that puts caps on how much credit big banks can extend to one another, finalizing a proposal that has been years in the making and is aimed at reducing the risk of one firm's distress spreading throughout the financial system.

  • June 15, 2018

    PE-Backed Avalara Leads 3 IPOs Raising $377M Total

    Private equity-backed tax automation company Avalara Inc. saw shares soar in first-day trading on Friday after raising $180 million in an initial public offering that priced better than expected, leading three issuers whose shares debuted following IPOs that raised $377 million combined.

  • June 15, 2018

    US Trustee Slams IHeartMedia Executive Bonuses

    The U.S. Trustee on Thursday asked a Texas bankruptcy court to reject iHeartMedia Inc.’s plan to pay its top executives up to $25 million in bonuses, saying the company has failed to show the plan’s performance goals are a challenge or how the executives would help reach them.

Expert Analysis

  • Ripple Labs Case Will Address Key Cryptocurrency Question

    Christian Everdell

    Do cryptocurrencies that function primarily as a medium of exchange qualify as securities? An answer may be coming sooner than expected — not from the U.S. Securities and Exchange Commission but from a California federal court in Coffey v. Ripple Labs, says Christian Everdell, counsel at Cohen & Gresser LLP and a former assistant U.S. attorney.

  • Impediments To Legal Industry's 'Inevitable' Future: Part 2

    Craig Levinson

    I agree with the legal pundits speculating that NewLaw’s present and future disruptors will radically change the legal services industry, but that change may not come quite as rapidly as predicted. Regardless, now is the time for both the incumbents and the challengers to best position themselves for the eventual shakeup, says Craig Levinson, founder of Levity Partners.

  • Dr Pepper Shines Spotlight On Delaware Appraisal Rights

    Gail Weinstein

    The Delaware Chancery Court recently held that appraisal rights are not available to the stockholders of Dr Pepper in connection with the company's proposed merger with Keurig Green Mountain, raising the question of whether the reverse triangular merger structure in this case will be utilized in other transactions to eliminate appraisal rights, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Impediments To Legal Industry's 'Inevitable' Future: Part 1

    Craig Levinson

    Legal pundits continue to make predictions that newer entrants into the industry — NewLaw firms, the Big Four and alternative legal service providers — will progressively seize greater amounts of market share from traditional law firms. But the BigLaw response has been underwhelming at best, and a glimpse at the market forces puts its lack of urgency into perspective, says Craig Levinson, founder of Levity Partners.

  • Credit Default Swaps And The Hovnanian Exchange Offer

    Anthony Nolan

    The recently completed exchange offer for K. Hovnanian Enterprises’ senior notes has roiled the world of credit default swaps — at least one lawsuit has been filed and regulators have expressed concerns about market manipulation. Anthony Nolan and Hilda Li of K&L Gates LLP explain why the Hovnanian debt restructuring has stoked concern about the integrity of the CDS market.

  • Kokesh And Its Impact On SEC Enforcement, A Year Later

    Matthew Solomon

    One year ago, the U.S. Supreme Court ruled in Kokesh that the U.S. Securities and Exchange Commission’s disgorgement remedy is subject to a five-year statute of limitations. This has had a quantifiable effect on the agency’s enforcement program, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Opinion

    Why Widespread Use Of Live Video Testimony Is Not Justified

    Geoffrey Wyatt

    Despite the partiality some courts have shown to live video testimony, it provides no advantages — and several disadvantages — over the tried-and-true method of videotaped depositions, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Series

    Judging A Book: Wallach Reviews 'Uncivil Warriors'

    Judge Evan Wallach

    "Uncivil Warriors: The Lawyers' Civil War," by Peter Hoffer, is a new book about the involvement of lawyers on both sides in the American Civil War. The discussion is enlightening and often fascinating, but falls short in several key areas, says Federal Circuit Judge Evan Wallach.

  • States' Crypto Enforcement Onslaught Has Only Just Begun

    John Reed Stark

    It should come as no surprise that state securities administrators have boosted their cryptocurrency enforcement efforts. Because while cryptocurrency promoters can find easy prey in today’s excitable retail investor marketplace, initial coin offerings and digital trading platforms are also easy to surveil and easy to charge, says John Reed Stark of John Reed Stark Consulting LLC.

  • BigLaw Blogs In A Post-GDPR Marketing Universe

    Stephan Roussan

    Connecting with potential prospects is now more challenging due to the EU General Data Protection Regulation, meaning that law firm microsites, blogs and social media will become more valuable than ever. The firms that deploy them strategically will increase their relative visibility and accelerate the rebuilding of their opt-in distribution lists, says Stephan Roussan of ICVM Group.