Capital Markets

  • March 12, 2018

    SEC Commissioner Blasts 'Fiction' About In-House Judge Bias

    One of the newest members of the U.S. Securities and Exchange Commission on Friday defended the integrity of the agency’s in-house court, blasting what he called “fiction masquerading as data” right as the U.S. Supreme Court is set to consider the constitutionality of the forum.

  • March 12, 2018

    DOJ Claims 'Lies' In Ex-Wilmington Trust Execs' Fraud Trial

    Four former Wilmington Trust Corp. executives "lied repeatedly" about the bank's commercial loan portfolio to regulators, investors and the public in 2009 and 2010, a federal prosecutor said Monday at the opening of the officials' fraud and securities trial in Delaware.

  • March 12, 2018

    Big Banks Can't Escape Currency Buyers' Forex Antitrust Suit

    A New York federal judge on Monday denied a bid by several major banks to dismiss a proposed class action accusing them of a conspiracy to rig benchmark foreign exchange rates, finding that the retail foreign currency buyers behind the suit had succeeded in pleading antitrust injury in their third crack at amending their complaint.

  • March 12, 2018

    SEC Bars Immigration Atty, Firm For EB-5 Fraud Scheme

    The U.S. Securities and Exchange Commission on Monday imposed a full associational and penny stock bar against attorney Hui Feng and his law firm months after a California federal judge found them liable for defrauding Chinese nationals looking to obtain visas.

  • March 12, 2018

    Judge Rejects Breitburn Ch. 11 Plan But Gives Path Forward

    Breitburn Energy Partners LP moved closer to exiting bankruptcy on Monday following a recent stumble, after the debtor pledged to quickly correct a hard-fought Chapter 11 plan that was narrowly shot down by a New York bankruptcy court just days before.

  • March 12, 2018

    SEC Focused On Cyber Disclosure After New Guidance: Chair

    The U.S. Securities and Exchange Commission will closely monitor how corporations respond to recently released guidance on disclosure of cybersecurity breaches, SEC Chairman Jay Clayton said Monday in Washington, D.C.

  • March 12, 2018

    Pastor, Partner Must Pay $9M To Settle Fraud Allegations

    A Florida federal judge on Monday ordered a fund run entirely by a North Carolina man and a convicted pastor-turned-fraudster to pay $9 million to settle claims it duped Florida churchgoers and their associates out of $2 million.

  • 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.

Expert Analysis

  • 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.

  • How To Fix Your Broken Client Teams

    Mike O'Horo

    Law firms claim they create client teams to improve service. Clients aren’t fooled, describing these initiatives as “thinly veiled sales campaigns.” Until firms and client teams begin to apply a number of principles consistently, they will continue to fail and further erode clients’ trust, says legal industry coach Mike O’Horo.

  • 10 Highlights From FINRA’s 2018 Priorities Letter

    Emily Gordy

    The Financial Industry Regulatory Authority's annual regulatory and examination priorities letter is a road map to areas on which FINRA will focus in the coming year. Firms must use this information to assess strengths, identify gaps and shore up weaknesses, says Emily Gordy, a partner at McGuireWoods LLP and a former senior vice president at FINRA.

  • How To Serve Your Blind Client Effectively

    Julia Satti Cosentino

    While a client’s visual impairment can create challenges for an attorney, it also can open up an opportunity for both attorney and client to learn from each other. By taking steps to better assist clients who are blind or visually impaired, attorneys can become more perceptive and effective advisers overall, say Julia Satti Cosentino and Nicholas Stabile of Nutter McClennen & Fish LLP.

  • A Big Step Toward Harmonizing Swap Trading Markets

    Stephen Humenik

    With a recent order from the U.S. Commodity Futures Trading Commission, swap trading market participants are now able to satisfy trading mandates in both the U.S. and the EU. Without this combined effort of regulators, swap dealers and traders would have faced a fragmented market this year, say Stephen Humenik and Uttara Dukkipati of Covington & Burling LLP.

  • Opinion

    Evolving Due Process In The Digital Age

    Stephen Kane

    Because courts have not modernized as quickly as companies like Amazon, Tesla and Apple, Americans are becoming increasingly dissatisfied, but technological innovations may be able to help Americans access their due process, says Stephen Kane of FairClaims.