Capital Markets

  • December 5, 2017

    Dodd-Frank Rollback Bill Moves Out Of Committee Unchanged

    A Senate panel on Tuesday advanced a bipartisan package of changes to the Dodd-Frank Act, rejecting a slew of amendments from more liberal Democrats that could have altered the delicate framework that allowed lawmakers from both parties to produce the compromise bill.

  • December 5, 2017

    2nd Circ. Revives Alibaba Securities Class Action Over IPO

    The Second Circuit on Tuesday reinstated a putative securities class action against Alibaba Group Holding Ltd. and several executives after finding that a lower court judge improperly dismissed the suit tied to the company's $25 billion initial public offering.

  • December 5, 2017

    Valeant Prices Upsized $1.5B Bond To Refinance Debt

    Valeant Pharmaceuticals Inc. on Monday priced an upsized $1.5 billion private bond offering that will refinance previously issued debt, marking the Canadian drug giant’s third major bond sale this year as it revamps its balance sheet and seeks to regain investor confidence.

  • December 5, 2017

    SEC Approves NYSE Plan To Delay End-Of-Day Material News

    The U.S. Securities and Exchange Commission on Monday approved a New York Stock Exchange plan to bar companies from releasing end-of-day material news for up to five minutes after markets close, a move intended to prevent price discrepancies and market confusion.

  • December 5, 2017

    Growth Lending Co. Closes $275M Equity Offering

    Growth lending company Runway Growth Credit Fund Inc. announced Tuesday that it has closed its $275 million initial equity capital offering with help from an increased commitment from funds managed by Oaktree Capital Management LP.

  • December 5, 2017

    BNY Mellon Says Royal Park’s Proposed Class Still Lacking

    The Bank of New York Mellon Corp. has asked a New York federal judge to reject a new effort to allow a case over failed mortgage-backed securities it oversaw to advance as a class action, saying Royal Park Investments' class definition is still too “expansive and amorphous” to be certified.

  • December 5, 2017

    Summit REIT Unveils $92M Offering Meant To Fund Deals

    Summit Industrial Income REIT on Monday announced a unit offering that could hand the open-ended mutual fund real estate investment trust roughly $92 million, the same day it said it had inked a $66.1 million deal to buy a four-property portfolio in the greater Toronto area.

  • December 4, 2017

    Targeted Bill Could Bring First Broad Changes To Dodd-Frank

    A Senate panel on Tuesday is set to mark up bipartisan legislation that would ease certain Dodd-Frank rules for community banks and shrink the number of big banks subject to tougher supervision, marking the first legislative effort to roll back post-financial crisis rules that has a potential path to success.

  • December 4, 2017

    Justices Won't Hear Banks' Appeal In FDIC's $140M MBS Suit

    The U.S. Supreme Court on Monday said it won’t review a Second Circuit decision allowing the Federal Deposit Insurance Corp. to move forward with a $140 million mortgage securities suit against a group of five banks, leaving in place the appellate court’s interpretation of a so-called extender statute in the Financial Institutions Reform, Recovery and Enforcement Act.

  • December 4, 2017

    NYSE Seeks To Lower Required No. Of Investors For SPACs

    The U.S. Securities and Exchange Commission has requested public comment on a New York Stock Exchange proposal to ease rules on special-purpose acquisition companies, which include halving the minimum number of investors and adding a capital requirement to exempt SPACs from penny-stock rules.

  • December 4, 2017

    SEC Accuses Accounting Firm Of Fraud Over Microcap Audits

    The U.S. Securities and Exchange Commission on Monday accused a California-based public accounting firm and a number of its current and former partners of doing flawed audit work for an energy services holding company and two other penny-stock company clients that have themselves been accused of fraud by the agency.

  • December 4, 2017

    LPL Asks Calif. Judge To Nix Stock-Drop Suit For Good

    The largest U.S. independent broker-dealer urged a California federal judge on Friday to toss a proposed class action accusing it of covering up "severely disappointing" financial results while a major private equity backer cashed out to the tune of $187 million, saying the investors behind the suit haven't fixed the problems that got their last complaint thrown out.

  • December 4, 2017

    Real Estate Broker Leads 2 IPO Launches Totaling $749M

    Two companies eager to seal deals before the year-end holiday break launched initial public offerings on Monday, led by commercial real estate broker Newmark Group Inc.’s estimated $615 million IPO, followed by private equity-backed cable equipment maker Casa Systems Inc.’s approximate $134 million offering.

  • December 4, 2017

    Exchanges Set To Launch Bitcoin Futures Trading

    CBOE Global Markets Inc. said Monday it will begin trading bitcoin futures on its exchange Sunday, eight days before its rival CME Group Inc. does the same, following a recent green light for both venues by the U.S. Commodity Futures Trading Commission.

  • December 3, 2017

    Tax Bill’s Swift Passage May Create Legal Quandaries

    The accelerated course of the Republicans’ $1.4 trillion tax cut bill, heralding some of the most sweeping changes for corporations in decades, has created ambiguities that could take years to iron out while the process to reconcile differences between the House and Senate versions of the bill will leave nothing sacrosanct, including the cardinal 20 percent corporate tax rate.

  • December 2, 2017

    Senate Passes $1.4 Trillion Tax Cut Legislation

    The U.S. Senate passed an expansive tax cut bill early Saturday that is projected to add more than $1 trillion to the deficit, after garnering enough support from faltering and fiscally conservative Republicans.

  • December 1, 2017

    Citibank Reaches Deal To Exit Lehman's $1B Clawback Fight

    Following an undisclosed agreement, a New York federal judge Friday dismissed Citibank from a suit in which a Lehman Brothers unit seeks to claw back $1 billion in swaps transactions from various large banks including Bank of America and JPMorgan Chase.

  • December 1, 2017

    Quebecois Duo Hit With SEC Fraud Suit Over $15M ICO

    A Quebecois man whom Canadian financial regulators have repeatedly accused of fraud is now in the sights of the U.S. Securities and Exchange Commission, which filed a suit in New York federal court on Friday alleging that he and his supposed girlfriend have been ripping off investors in a fraudulent initial coin offering that purportedly raised $15 million.

  • December 1, 2017

    VC Group Gets Win In Foreign Entrepreneur Rule Row

    A D.C. federal judge on Friday granted a venture capital group's bid to vacate a Trump administration rule that delayed an Obama-era regulation for international entrepreneurs, finding it unlawful because the government failed to give time for public notice or comment.

  • December 1, 2017

    Biotech Cos. Among 5 IPOs That Could Surpass $580M

    Five firms are slated to lead five issuers set to raise nearly $581 million in initial public offerings during the week of Dec. 4, anchored by three venture-backed life science companies joined by a bank that specializes in real estate lending and a payday lender.

Expert Analysis

  • Jury Persuasion In An 'Alt-Fact' World

    Shelley Spiecker

    Today's climate of “alternative facts” has jurors making decisions based on beliefs, emotions and social affiliations that often go unacknowledged or underappreciated. To present their case in the most persuasive manner possible, litigators should consider adapting to their audience when it comes to four psychological factors, say consultants with Persuasion Strategies, a service of Holland & Hart LLP.

  • The New Breed Of Regulated Funds

    Video thumbnail

    Funds have become more creative with structures to deal with stock market volatility. In this short video, Eversheds Sutherland attorneys discuss private business development companies, nontraded BDCs and nontraded interval funds.

  • Applying The Investors' Playbook To Legal Career Planning

    Howard Cohl

    Nothing has been more instrumental in my role as a legal recruiter than what I learned from a variety of hedge fund managers, venture capitalists and investment bankers — how to analyze a deal and make a decision quickly. It boils down to the traditional SWOT analysis, says Howard Cohl, director in Major Lindsey & Africa’s emerging markets group.

  • Financial Crisis Anniversary

    Putting Our Nation’s Economy At Risk Again

    Phil Angelides

    Just a decade after financial disaster struck, the Trump administration, congressional Republicans and Wall Street are wantonly ignoring the lessons of history. The unknown is not if but when financial disaster will strike again, says Phil Angelides, who was chairman of the Financial Crisis Inquiry Commission.

  • How IT And Procurement Pros Can Inform Law Firm Budgeting

    Steve Falkin

    As law firms begin preparing for their annual budget review, Steve Falkin and Lee Garbowitz of HBR Consulting discuss why firm leaders should give their internal information technology and procurement teams a seat at the table.

  • The Republican Tax Plan Is Out, But Can They Pass It?

    Jeffrey Paravano

    While Republicans’ false starts this year on health care reform illustrate that advancing legislation is challenging, there seems to be growing consensus on the urgency for tax reform. But there are many surprises in the draft legislation, and the details are almost certain to cause controversy, say attorneys with BakerHostetler.

  • Getting Real About Artificial Intelligence At Law Firms

    Mark Williamson

    Artificial intelligence needs to be legally defensible in order to be useful to law firms. There are requirements for making this happen, says Mark Williamson, co-founder and chief technology officer of Hanzo Archives Ltd.

  • Proportionality, Not Perfection, Is What Matters

    John Rosenthal

    A few jurists and commentators have recently caused a stir in the e-discovery community by arguing that litigants should avoid using keyword searches to filter or cull a document population before using predictive coding. This “no-cull” rationale undermines the principle of proportionality at the heart of the recent changes to Federal Rule 26, say John Rosenthal and Jason Moore of Winston & Strawn LLP.

  • 2nd Circ. Significantly Weakens Cramdown Threat

    Michael Rosenthal

    By increasing the likelihood that a Chapter 11 debtor will be required to pay a market interest rate to cram down a plan on secured lenders, the Second Circuit's opinion in MPM Silicones clearly reduces a debtor's leverage in negotiations with secured creditors, say attorneys with Gibson Dunn & Crutcher LLP.

  • Make Way For The 'Unicorns'

    Lucy Endel Bassli

    By "unicorn" I don’t mean the next great tech startup with a valuation of $1 billion. I mean the new breed of lawyers realizing that there are better ways to get their day jobs done, says Lucy Endel Bassli, assistant general counsel leading the legal operations and contracting functions at Microsoft Corp.