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Capital Markets

  • August 14, 2018

    Tesla's Latham-Guided Panel To Study Take-Private Scenarios

    Tesla Inc. said Tuesday that its board of directors has formed a special committee, advised by Latham & Watkins LLP, that will evaluate any going-private proposals for the electric carmaker in the wake of a recent tweet by CEO Elon Musk that signaled his desire to take the company private.

  • August 13, 2018

    David Boies On How Dyslexia Shaped His Practice

    One of the country’s highest-profile litigators, the Boies Schiller Flexner LLP chairman was diagnosed with dyslexia when he was in his 30s. In an interview with Law360, he talks about practicing law with the learning disability.

  • August 13, 2018

    BigLaw’s Mental Health Stigma Shows Signs Of Fading

    Sometimes viewed as an “invisible” disability, mental illness has long been forced under wraps because of the risk attorneys could face bias and stigma. Here’s how lawyers, law firms and other groups are starting to take on the status quo.

  • August 13, 2018

    SEC Hits 2 Aegis Oil Agents Over $42M In Unregistered Sales

    The U.S. Securities and Exchange Commission sued two individuals Monday for allegedly selling $42 million in unregistered securities in the form of “joint venture units” in oil and gas development projects by Texas-based oil companies Aegis Oil LLC and 7S Oil & Gas LLC.

  • August 13, 2018

    Microcap Co. Exec Settles SEC's Claims Of $11M Fraud

    The chief executive of microcap company eCareer Holdings Inc. has agreed to pay more than $700,000 to settle the U.S. Securities and Exchange Commission's claims that his business defrauded more than 400 investors out of $11 million by selling unregistered shares and misrepresenting the company, according to a judgment entered Monday in Florida federal court.

  • August 13, 2018

    Rakoff Hits Ailing Cocoa Trader With 3 Years In $350M Fraud

    Peter G. Johnson, whose cocoa trading business Transmar went under after it deceived lenders out of more than $350 million, was sentenced to three years behind bars by U.S. District Judge Jed Rakoff on Monday, with the judge weighing the loss against Johnson’s life of good works.

  • August 13, 2018

    Deutsche Bank Gets Stay Of RMBS Indemnification Suit

    A New York federal judge has paused a proposed class action that accuses a Deutsche Bank unit of improperly funding its defense in a residential mortgage-backed securities trustee suit using money from the same trusts it is alleged to have mismanaged, finding that it would be more efficient to resolve the trustee suit first.

  • August 13, 2018

    SEC Gets Judgment Against Convicted Fitbit Stock Fraudster

    A New York federal judge on Friday signed off on the U.S. Securities and Exchange Commission’s consent judgment with Robert W. Murray, a Virginia man serving a two-year sentence for orchestrating a $100 million market manipulation scheme that quickly drove up the price of Fitbit Inc. stock, enjoining him from future securities violations.

  • August 13, 2018

    Thales Extends $5B Data Encryption Offer Amid Probes

    The Thales Group said that it has extended the acceptance period for its planned $5 billion purchase of Gemalto NV, as competition authorities in several jurisdictions give the tie-up a close look over concerns about hardware components used for data encryption.

  • August 13, 2018

    Elon Musk Says Saudis Expected To Fund Tesla Buyout

    Tesla CEO Elon Musk elaborated on Monday regarding his intention to take the electric-car maker private, revealing in a blog that he has discussed the matter with representatives of Saudi Arabia’s sovereign wealth fund, who he says are eager to provide funding for such a deal.

  • August 13, 2018

    Davis Polk Guides Sands China In $5.5B Note Offering

    Davis Polk & Wardwell LLP has advised the joint underwriters of a $5.5 billion note offering for Sands China Ltd. as the Las Vegas Sands Corp. subsidiary looks to repay its existing debt and invest in capital expenditures, the law firm said.

  • August 13, 2018

    Ex-State Street Exec's Post-Verdict Acquittal Bid Denied

    A post-verdict bid for acquittal by a former State Street Corp. vice president convicted of conspiracy and fraud for overbilling clients by millions was denied Monday by the Massachusetts federal judge who oversaw the case, saying he had heard the executive’s arguments before.

  • August 13, 2018

    FXCM Nixes Investor Class Action Over Swiss Franc Losses

    A federal judge in New York has dismissed a class action alleging foreign exchange trading company FXCM Inc. defrauded investors, saying the court found no evidence that the company made any deliberate misrepresentations to stockholders in failing to foresee the euro’s value falling sharply against the Swiss franc.

  • August 13, 2018

    Crypto Investor's Suit Must Stay In Federal Court

    A California federal judge on Friday refused to remand a putative securities class action brought by an investor in the cryptocurrency Ripple to state court, finding that the investor’s request to remand the suit under the Securities Act of 1933 goes too far.

  • August 10, 2018

    How The Legal Industry Lets Down Lawyers With Disabilities

    The dissolution of a five-year-old bar group marks the latest setback for disabled attorneys, who often find little support while navigating an inhospitable industry.

  • August 10, 2018

    Gaining Access: Disabled Lawyers Share Their Stories

    In a series of interviews, lawyers tell Law360 how even well-intentioned professors can create barriers, how inclusivity can help a firm’s litigation prowess, and how “inspirational” can be a dirty word.

  • August 10, 2018

    Schwab Pushes Back On Banks' Latest Bid To Ax Libor Claims

    Charles Schwab Corp. on Thursday defended its revived and amended claims against a slew of the world’s largest banks over their alleged manipulation of the London Interbank Offered Rate, telling a New York federal judge that it’s tightened up its complaint enough for the case to proceed.

  • August 10, 2018

    Insurers Ask 1st Circ. To Affirm UBS' $20M Coverage Loss

    A trio of insurers urged the First Circuit on Friday to uphold a judgment that UBS AG units can’t tap $20 million in coverage for costs associated with claims that investors lost billions of dollars because UBS manipulated Puerto Rico's municipal debt bond market, saying the bank has impermissibly raised new arguments on appeal.

  • August 10, 2018

    Deals Rumor Mill: Frontier-Suzhou, VF Corp., SIG Combibloc

    A pair of Chinese drug developers are looking to join in on a growing trend of biotech public offerings in Hong Kong, the company behind jeans brands Lee and Wrangler is sussing out options for its denim division, and private equity-backed packaging maker SIG Combibloc is on target to unveil plans to publicly list.

  • August 10, 2018

    Calif. Bank Prices $47.7M IPO On Low End Of Range

    The Los Angeles-based holding company for Pacific City Bank announced Thursday night that it would be pricing its initial public offering of nearly 2.4 million shares at $20 per share, the low end of a previously announced $20 to $22 range, for a total offering size of $47.7 million.

Expert Analysis

  • How New SEC Rule Will Affect ETF Ecosystem

    Stacy Fuller

    The U.S. Securities and Exchange Commission has proposed a rule that would allow exchange-traded funds to operate without obtaining an exemptive order from the commission. While this is a welcome development, further guidance may be necessary to truly level the competitive playing field, say attorneys with K&L Gates LLP.

  • Series

    Clerking For Ginsburg: 4 Things I Learned

    Judge John Owens

    A lot has changed since I clerked for Justice Ruth Bader Ginsburg 20 years ago. At that time, I had hair and no wife. I also thought I knew everything — but working for the justice made me realize very quickly that I actually knew very little, says Ninth Circuit Judge John Owens.

  • Series

    Clerking For Ginsburg: The Equality Lessons

    Margo Schlanger

    In 1993, Ruth Bader Ginsburg was confirmed to the U.S. Supreme Court, and I began my two-year clerkship with her. In her first opinion as a justice, and in dozens since, Justice Ginsburg reminded us how the law needs to operate if equality is to be a reality, says Margo Schlanger, a professor at the University of Michigan Law School.

  • Considerations When Purchasing Tax Receivable Agreements

    Adam Greenwood

    One consequence of last year’s tax reform has been a substantial increase in investor interest in acquiring tax receivable agreement payment rights, particularly by hedge funds, family offices and special purpose private investment funds. Though terms and companies will vary, there are certain features that an investor should always analyze prior to acquiring rights under a TRA, say attorneys at Ropes & Gray LLP.

  • SAP Ruling's Curious Approach To Subject Matter Eligibility

    Jeffrey Mann

    While the Federal Circuit's conclusion in SAP v. InvestPic meshes nicely with years of Section 101 jurisprudence, the decision awkwardly invoked an antiquated rationale, say Jeffrey Mann and J. Colby Van Horn of Stroock & Stroock & Lavan LLP.

  • The Future Of Authenticating Audio And Video Evidence

    Jonathan Mraunac

    The recent emergence of artificial intelligence-based technology has prompted serious concerns about the future integrity of recordings. Attorneys must think critically about standards for authenticating audio and video evidence as well as legislative and regulatory safeguards to discourage pervasive manipulation and forgery, says Jonathan Mraunac of Ogletree Deakins Nash Smoak & Stewart PC.

  • New SEC Rules Encourage Companies To Go Public

    David Wolpa

    The U.S. Securities and Exchange Commission last month voted to expand its definition of “smaller reporting company” to increase the number of public companies that qualify for less extensive reporting rules. Private companies with relatively high valuations are especially likely to take advantage of these amendments, say attorneys with McGuireWoods LLP.

  • Are Blockchain Utility Tokens Securities?

    Douglas Pepe

    Many of the most important and promising blockchain projects involve crypto assets and tokens that are designed for — and have — a real use, separate and apart from their prospects as speculative investments. These cases do not fit neatly into a Howey analysis. They are the square pegs facing a regulatory round hole, says Douglas Pepe of Joseph Hage Aaronson LLC. 

  • Opinion

    Law360's Global 20 Doesn't Acknowledge Global Networks

    Glenn Cunningham

    While I read with interest Law360's report analyzing the top 20 global law firms of 2018, I also noticed it doesn't tell the whole story. Global networks of independent law firms compare favorably with multinational firms in terms of geographic coverage, legal expertise, and awareness of local cultures and customs, says Glenn Cunningham of Interlaw Ltd.

  • Dodd-Frank Reform Brings Flexibility For Stock Compensation

    Stuart Gelfond

    In addition to reforming certain aspects of the Dodd-Frank Act, the recently signed Economic Growth, Regulatory Relief, and Consumer Protection Act also provides relief for issuers of stock-based compensation from certain disclosure burdens of the federal securities laws. Attorneys with Fried Frank Harris Shriver & Jacobson LLP look at how this new flexibility can benefit private companies.