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Capital Markets

  • January 5, 2015

    Levi & Korsinsky Plan Class Action Over MOL Global's IPO

    Levi & Korsinsky LLP is investigating potential missteps made by MOL Global Inc. ahead of its recent disappointing initial public offering and plans to file a putative class action suit against the company, according to a press release from the firm.

  • January 5, 2015

    Canada IPOs Crank Out $3B In 2014 To Defy Dicey Markets

    Canadian initial public offerings raised over CA$3.5 billion (US$2.97 billion) in 2014, showing growth over the prior year despite volatile markets, according to a PricewaterhouseCoopers Canada survey released Monday.

  • January 5, 2015

    Kirby McInerney's $1.3M In Hi-Crush Settlement Gets Final OK

    A federal judge approved a $3.8 million class action settlement Monday, awarding one-third in legal fees to plaintiff attorneys Kirby McInerney LLP, in a suit alleging that fracking sand producer Hi-Crush Partners LP misled shareholders prior to its initial public offering.

  • January 5, 2015

    Fate Of $3B IPO Still Murky, Malaysia's 1MDB Replaces Prez

    State-owned investor 1Malaysia Development Berhad said Monday it was replacing its president of nearly two years with a Middle East-focused investment banker, while the fate of a planned $3 billion initial public offering of its power business remains unclear.

  • January 5, 2015

    JPMorgan Reaches Settlement In Forex Antitrust Class Suit

    JPMorgan Chase & Co. in a New York court on Monday said that it had reached a settlement in class action antitrust litigation over allegations that the bank was part of a conspiracy to rig the approximately $5 trillion-per-day foreign exchange market.

  • January 5, 2015

    Abu Dhabi Car Rental Co. Plans $157M IPO To Fuel Growth

    United Arab Emirates vehicle rental company Massar Solutions unveiled plans for a $157 million initial public offering Monday on the Abu Dhabi Securities Exchange, as it maps out expansion to serve the region’s growing logistics services market.

  • January 5, 2015

    Nasdaq Puts Up $225M For PE-Backed Indexer Dorsey Wright

    Nasdaq OMX Group Inc. bet on its diversification strategy and a beefier indexing business in a $225 million deal announced Monday that will fold Dorsey Wright & Associates LLC, the private equity-backed index and analytics provider, into its portfolio.

  • January 2, 2015

    Securities Regulation To Watch In 2015

    Wall Street’s watchdogs are entering 2015 with packed agendas that, among other things, aim to impose new rules on high-frequency traders, require public companies to say more about executive pay and force broker-dealers into a controversial data reporting regime. But what regulators can accomplish remains an open question as the new Republican-controlled Congress takes its seat with an agenda of its own.

  • January 2, 2015

    Pa. Justices Tighten Rules For Attys Investing Client Funds

    The Pennsylvania Supreme Court has announced stricter standards of accountability for attorneys investing funds for clients, which include a prohibition on brokering investments without a proper license.

  • January 2, 2015

    Merrill Lynch Fined $7.2M Over Options Reporting Flubs

    Two units of Bank of America Corp.’s Merrill Lynch business have agreed to pay just more than $7.2 million to settle claims brought by the Financial Industry Regulatory Authority and other regulators over extensive failures to report data that authorities use to scope for market manipulation and other schemes.

  • January 2, 2015

    German Cable Co. Tele Columbus Rekindles $360M IPO

    German hedge fund-backed cable company Tele Columbus on Friday revived its postponed initial public offering looking to raise about €300 million ($360 million) in its public debut in the first half of 2015.

  • January 2, 2015

    Capital Markets Set For Strong 2015 Despite Headwinds

    Slight headwinds in 2015 are not expected to slow the flood of companies tapping the public markets for capital, as generally favorable economics, a full pipeline, developing industry trends and a continued hunt for exits by financial sponsors are expected to fuel public offerings, experts say.

  • January 2, 2015

    ICE Exchange To Crack Down On Spoofing

    The ICE Futures U.S. Exchange has said it will implement rules on Jan. 14 to "prohibit disruptive trading" including illegal practices known as spoofing, where traders rapidly post and cancel orders to simulate genuine market activity.

  • January 2, 2015

    Health Care Analytics Co. To Offer Up To $500M In IPO

    Health care analytics company Inovalon Holdings Inc. has filed for an initial public offering of up to $500 million for Class A stock, seeing an opportunity for its business to grow during the shift to a more value-based model of health care use, according to a filing with the U.S. Securities and Exchange Commission.

  • January 2, 2015

    Burger Chain Shake Shack Files IPO To Beef Up Expansion

    Shake Shack, a private equity- and hedge fund-backed hamburger and hot dog chain, has filed for an initial public offering to beef up expansion plans, joining a hearty menu of restaurant companies that went public over the past year.

  • January 2, 2015

    Ambac Hits BofA With $600M Suit Over Countrywide MBS

    Bond insurer Ambac Assurance Corp. has sued Bank of America Corp. seeking to recover approximately $600 million it has either paid out or expects to pay out on faulty mortgage-backed securities issued by Countrywide Financial Corp.

  • December 23, 2014

    SEC Says $3M Facebook Pre-IPO Fraud Funded Day Trading

    The U.S. Securities and Exchange Commission in California federal court on Tuesday accused a Santa Barbara-based man of raising $3.4 million from investors to buy pre-initial public offering shares of Facebook Inc. and Twitter Inc. and instead using the proceeds to fund his own money-losing day trading activities.

  • December 23, 2014

    SEC Says Conflicts Of Interest Persist At Ratings Agencies

    The largest credit ratings agencies are still showing signs of conflicts of interest between the process of rating financial products and the financial success of their own businesses, according to a report issued by the U.S. Securities and Exchange Commission on Tuesday.

  • December 23, 2014

    Wall Street Assails Tick-Size Study's Dark Pool Treatment

    A U.S. Securities and Exchange Commission-sponsored experiment to draw more investors into trading smaller companies’ stock got a frosty Wall Street reception this week when Citigroup Global Markets Inc., Fidelity Investments, Charles Schwab & Co. Inc. and others criticized the pilot program, taking aim at its proposed treatment of dark pool trading.

  • December 23, 2014

    Argentina Must Give Creditors Asset Info, 2nd Circ. Rules

    The Second Circuit on Tuesday upheld a lower court’s order directing Argentina and several banks to hand over information to hedge fund bondholders about the country’s assets, including diplomatic and military property, rejecting Argentina’s claims of sovereign immunity.