Capital Markets

  • March 12, 2018

    Prism, Angelo Gordon Inject $120M Into NJ Apartment Plan

    New York-based real estate investment trust Angelo Gordon & Co. LP and developer Prism Capital Partners LLC unveiled a $120 million plan of investment and renovation for turning the Wonder Lofts building in Hoboken, New Jersey, into a luxury apartment building, the companies said Monday.

  • March 12, 2018

    AT&T, DOJ File Pretrial Briefs In Time Warner Merger Row

    AT&T and the U.S. Department of Justice have laid out final previews of their impending D.C. federal court trial arguments over the company's proposed $85 billion purchase of Time Warner, arguments that boil down wildly conflicting predictions of consumer price increases likely to result from the deal.

  • March 12, 2018

    SEC Gets Asset Freeze Extended In AriseBank ICO Suit

    A Texas federal judge on Friday extended an asset freeze and other emergency measures put in place earlier this year for AriseBank and its top executives after the U.S. Securities and Exchange Commission accused them of running an illegal and fraudulent initial coin offering.

  • March 12, 2018

    Chicago's 'Fear Index' Stained By Manipulation, Investors Say

    A group of investors led by a Chicago trading firm on Friday alleged that a slew of unknown traders have spent years manipulating the Chicago Board Options Exchange Volatility Index by exploiting alleged weaknesses in the way the exchange calculates settlement prices on VIX futures and options.

  • March 12, 2018

    VC-Backed File Storage Giant Dropbox Launches $612M IPO

    File storage giant Dropbox Inc. launched an initial public offering on Monday that is estimated to raise $612 million, kicking off a closely watched IPO by one of Silicon Valley's elite venture-backed companies.

  • March 12, 2018

    Medical Device Co. Says Atty's Consultant Scam Cost It $1.8M

    A medical device developer and manufacturer has brought a suit removed to Texas federal court on Friday alleging a California attorney misrepresented her ability to connect the company with potential clients in Asia and continuously tried to get more money from the company, ultimately costing it $1.76 million.

  • March 9, 2018

    Why The ‘Blue Slip’ Battles Are Becoming White Hot

    It’s more of a norm than a rule. Its use has shifted over time, often with political winds. But the once-obscure Senate tradition is now front and center in the boiling debate over the future of the judiciary.

  • March 9, 2018

    Senior Judges Fill The Void Left By Rampant Vacancies

    More federal judges are skipping the golf course to head back to the courtroom upon taking senior status, and they're playing an increasingly vital role in a strained system.

  • March 9, 2018

    How Far Right Can The President Pull The Courts?

    Although President Donald Trump set a record with the number of circuit judges he named during his first year, experts say that's not the whole story. Here’s our data-driven look at what the White House faces in its quest to reshape the appeals courts.

  • March 9, 2018

    Man Gets 2 Years for $100M Fitbit Stock Manipulation Fraud

    A 25-year-old Virginia man was sentenced Friday in New York federal court to two years in prison for orchestrating a $100 million market manipulation scheme that quickly drove up the price of Fitbit Inc. stock, netting him about $4,000.

  • March 9, 2018

    Judge Urged To Examine Trump CNN Bias Over AT&T Merger

    Several former U.S. Department of Justice officials sought entry Thursday into the DOJ’s D.C. federal court challenge of AT&T’s Time Warner purchase, arguing there remains “a reasonable basis” to believe President Donald Trump’s enmity against Time Warner-owned CNN pushed the challenge, even after the judge blocked efforts to allege political bias.

  • March 9, 2018

    Wells Fargo Says Denial Of Cert. Right Call In RMBS Suit

    Wells Fargo Bank NA has urged a New York federal judge to adopt a magistrate judge’s report recommending that class action status be denied for Royal Park Investments’ suit accusing the bank of bungling its duties as trustee to two residential mortgage-backed securitization trusts.

  • March 9, 2018

    Mars Unit Launches $100M Fund For Pet Care Startup Org.

    Mars Inc.’s pet food and pet products arm said Friday it will launch a $100 million venture capital fund as part of a recently announced program to help accelerate growth and provide guidance to pet care industry startup companies.

  • March 9, 2018

    Health Hires: Aronberg, Bracewell, Miles, Polsinelli, Sidley

    Aronberg Goldgehn Davis & Garmisa, Bracewell LLP, Miles & Stockbridge PC, Polsinelli PC and Sidley Austin LLP are among the firms that have seen their life sciences and health teams grow in the last few weeks.

  • March 9, 2018

    Stock Trader Cops To $3M Insider Trading Scheme

    The ringleader of a stock-trading operation on Friday copped to his role in a $3 million scheme that involved violating confidentiality agreements with investment banks and short-selling securities before offerings were publicly disclosed, New Jersey’s federal prosecutor announced.

  • March 9, 2018

    US Bank, BNY Mellon Escape $280M RMBS Trustee Suit

    A New York federal judge ruled Thursday that three Triaxx collateralized debt obligation issuers have run out of chances on their $280 million suit alleging U.S. Bank NA and the Bank of New York Mellon dropped the ball as trustees to several dozen residential mortgage-backed securitization trusts.

  • March 9, 2018

    SEC Says 'Mini-Berkshire Hathaway' Pump-And-Dump Halted

    The U.S. Securities and Exchange Commission said Friday it shut down a classic pump-and-dump scheme by the president of a penny stock company who touted the business as a "mini-Berkshire Hathaway" and allegedly tried to lure in investors by lying about himself and the company.

  • March 9, 2018

    Penny Stock 'Mailman' Hit With Securities Fraud Charges

    A Florida-based penny stock promoter known as "Mailman" has been charged with criminal securities fraud in Alabama federal court in a so-called scalping scheme in which he allegedly bought shares of publicly traded companies, then touted the companies through mass mailings to boost their stock prices without disclosing his ownership.

  • March 9, 2018

    3 Firms To Guide IPOs Totaling $286M, Led By 'Unicorn'

    Three firms will steer initial public offerings projected to raise about $286 million during the week of March 12, representing life sciences, banking and technology companies, including the year’s first “unicorn” IPO, potentially igniting a busier season for deals.

  • March 9, 2018

    Wilmington Trust Execs' Fraud Trial Set To Begin In Del.

    Federal prosecutors were poised for a second time Friday to take four Wilmington Trust Corp. executives to trial in Delaware on securities fraud and related charges for allegedly hiding more than $1 billion in past due loans, in a case that will likely hinge on disputed loan status reporting mandates.

Expert Analysis

  • Put The Brakes On Acceleration Bay Litigation Funder Ruling

    David Gallagher

    Last week, the District of Delaware raised eyebrows by ruling that documents provided to a litigation funder and its counsel in connection with their due diligence are categorically not attorney work product. Acceleration Bay v. Activision Blizzard seems to be a case of bad facts making bad law, says David Gallagher, investment manager and legal counsel for Bentham IMF.

  • 3 Securities Enforcement Developments You May Have Missed

    Kurt Wolfe

    Over the past year, the U.S. Securities and Exchange Commission investigations and enforcement space has seen a number of developments that are likely to have transformative effects, some of which have garnered a great deal of commentary. Kurt Wolfe of Allen & Overy LLP highlights three issues that have received less attention.

  • Recent Trends In Structuring Risk Retention Vehicles

    Jason Schwartz

    In the wake of the financial crisis, the U.S. and Europe enacted “risk retention” rules that require sponsors of securitization vehicles to maintain a financial interest in those vehicles. Here, attorneys with Cadwalader Wickersham & Taft LLP look at the “capitalized management vehicle” structure that many collateral managers are using to comply with the rules, and the likely impact of a recent D.C. Circuit ruling.

  • The Impact Of Kokesh So Far, And What's Next: Part 2

    Carmen Lawrence

    Kokesh changed the paradigm for remedies in U.S. Securities and Exchange Commission enforcement actions, but the potential ramifications go well beyond what initially meets the eye. As we are starting to see, Kokesh's full impact will not be limited to disgorgement or the SEC, say attorneys with King & Spalding LLP.

  • Considerations For Attorneys Using Artificial Intelligence

    Ben Allgrove

    Artificial intelligence tools can empower attorneys to work more efficiently, deepen and broaden their areas of expertise, and provide increased value to clients, which in turn can improve legal transparency, dispute resolution and access to justice. But there are some common pitfalls already apparent in the legal industry, say Ben Allgrove and Yoon Chae of Baker McKenzie.

  • The Impact Of Kokesh So Far, And What's Next: Part 1

    Dixie Johnson

    The U.S. Supreme Court's decision last year in Kokesh had immediate effects on the U.S. Securities and Exchange Commission’s ability to seek disgorgement in enforcement actions. On the other hand, defendants have had little success when seeking to amend previously awarded disgorgement amounts, say attorneys with King & Spalding LLP.

  • Series

    Judging A Book: Duncan Reviews 'Justice And Empathy'

    Judge Allyson Duncan

    In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed​. But the question of how the judiciary might conform to Burt’s expectations raises practical problems​, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit. ​

  • 2nd Circ. Ruling May Broaden Common D&O Policy Exclusion

    Kevin LaCroix

    A recurring directors and officers insurance issue is the question of whether or not coverage for a claim is precluded under the relevant policy’s professional services exclusion. The Second Circuit’s recent opinion in a coverage dispute arising out of the Facebook initial public offering could extend the exclusion’s preclusive effect far beyond the intended purpose, says Kevin LaCroix of RT ProExec.

  • The Art Of The Litigation Funding Deal

    Julia Gewolb

    As litigation funding becomes more widespread, greater complexity and variability in funding deals are to be expected. All claimants should consider certain key questions on the economics of single-case funding when considering or comparing funding terms, says Julia Gewolb of Bentham IMF.

  • Smart Contracts Need Smart Corporate Lawyers

    Matthew O’Toole

    Given the operational and security risks involved, and the substantial digital asset values transacted, the rise of distributed ledger technology and smart contracts will create new opportunities and responsibilities for transactional lawyers, say attorneys with Potter Anderson Corroon LLP.