Capital Markets

  • November 29, 2017

    New Jersey REIT Reverse Mortgage Pulls $100M IPO

    Reverse Mortgage Investment Trust Inc., a New Jersey-based real estate investment trust that originates and services reverse mortgage loans, on Wednesday withdrew an estimated $100 million initial public offering that it filed in 2014, making it the latest issuer to delay or cancel an IPO. 

  • November 28, 2017

    Justices Push Back Against Wider Whistleblower Definition

    Several U.S. Supreme Court justices seemed inclined Tuesday to hew to a narrow definition of the term "whistleblower," an interpretation that could significantly limit the reach of anti-retaliation measures meant to protect whistleblowers under the Dodd-Frank Act.

  • November 28, 2017

    Justices Grapple With ‘Gibberish’ In State Securities Case

    The U.S. Supreme Court on Tuesday appeared to struggle with a question about whether Congress had intended to bar state courts from hearing certain types of securities class actions brought under federal law, leading two of the court’s conservative justices to bemoan the “gibberish” of the statutory language they were being asked to interpret.

  • November 28, 2017

    SEC Chair Says He Is Bracing For MiFID II Impact

    U.S. Securities and Exchange Commission Chairman Jay Clayton on Tuesday said dealing with the looming overhaul of European securities regulations — the new Markets in Financial Instruments Directive — has come to dominate his work lately, and that managing the stateside impact of the changes could prove more important than other items on his regulatory agenda for next year.

  • November 28, 2017

    PE-Backed Consumer Lender Curo Launches $100M IPO

    Curo Group Holdings Corp., a private equity-backed lender targeting consumers who lack access to traditional credit, launched an estimated $100 million initial public offering on Tuesday, marking the fifth company to move forward on IPO plans this week.

  • November 28, 2017

    Ga. Exec Barred From Helming Public Cos. In Fraud Suit Deal

    A Georgia executive accused of defrauding investors in what was supposed to be a project to build a massive movie studio near Savannah has been barred from serving as an officer or director of a public company for five years as part of deals resolving the U.S. Securities and Exchange Commission’s claims against him and his company.

  • November 28, 2017

    PE-Backed Medpace Unveils 4M-Share Secondary Offering

    Private equity-backed contract research organization Medpace Holdings Inc. has proposed a secondary offering that would enable majority shareholder Cinven Capital Management to unload 4 million shares, potentially raising about $138.1 million based on the recent stock price.

  • November 28, 2017

    Deals Rumor Mill: Siemens Healthineers, Uber, Albea

    Siemens is leaning toward Frankfurt, Germany, for the initial public offering of its multibillion-dollar medical equipment business, SoftBank is leading a group of investors that will try to buy a sizable stake in Uber, and Sun Capital has received multiple offers for French packaging company Albea.

  • November 28, 2017

    Sinclair To Borrow $3.7B To Fund Tribune Acquisition

    Sinclair Broadcast Group Inc. said Monday it intends to borrow more than $3.7 billion to help fund its acquisition of Tribune Media Co., a contested deal that would create a media giant and is currently under review by the Federal Communications Commission.

  • November 27, 2017

    Top EU Court To Review ECB's Quantitative Easing Program

    The European Union's highest court will get another chance to review the legality of the European Central Bank's bond purchasing programs after Germany's top court again sought guidance on a challenge to the bloc's quantitative easing decisions.

  • November 27, 2017

    Justices To Weigh Curbing State Securities Class Actions

    The U.S. Supreme Court on Tuesday will consider whether federal law bars state courts from hearing certain securities class actions, but the business community’s hopes of restricting such access may hinge on convincing the most conservative justices to look past their preferred way of interpreting the law, lawyers said.

  • November 27, 2017

    RYB Faces Stock-Drop Suit Over Child Abuse Scandal

    Beijing-based educational services provider RYB Education Inc. was hit with a proposed investor class action in New York federal court on Monday, days after China's state-run news agency, Xinhua, reported that Beijing police are looking into allegations of child abuse at a kindergarten run by the company.

  • November 27, 2017

    Platform Specialty Closes $550M Senior Notes Offering

    Platform Specialty Products Corp. said Monday it has closed a $550 million senior note offering, with the proceeds to be used to redeem a November 2015 note offer following the specialty chemicals company’s announcement earlier this year that it will separate into two public companies.

  • November 27, 2017

    Globalworth Real Estate Plans To Raise $357M

    Globalworth Real Estate Investments Ltd. is planning to raise roughly €300 million ($357 million) through the sale of new ordinary shares, according to an announcement from the company on Monday.

  • November 27, 2017

    3 Life Sciences Cos., 1 Bank Launch IPOs Totaling $481M

    Three venture-backed life sciences companies and a California bank launched initial public offerings on Monday that could raise a combined $481 million, setting the stage for an upturn in deals following a Thanksgiving pause.

  • November 27, 2017

    Whistleblower Case Could Widen Into A Chevron Challenge

    Oral arguments set for Tuesday at the U.S. Supreme Court in a case focusing on the reach of whistleblower protections under the Dodd-Frank Act could also veer into the broader question of how much leeway regulatory agencies have in interpreting federal statutes.

  • November 27, 2017

    Deals Rumor Mill: Springer Nature, Ping An, Bezeq

    An educational publishing company could be valued at €5 billion ($5.95 billion) in its IPO, the flotation of a Chinese online health care and medical platform could raise as much as $1 billion, and at least four suitors are vying for a controlling stake in Bezeq Israel Telecom.

  • November 27, 2017

    Forex Broker Denied 2nd Chance At Tossing Chancery Suit

    A Delaware Chancery Court judge denied an attempt by the directors of foreign exchange broker FXCM Inc. to have their motion to dismiss a derivative suit reargued, saying Monday his earlier decision keeping some shareholder claims alive due to a perceived lack of independence of the board was not a misapplication of the law.

  • November 27, 2017

    Platinum Execs Charged In $1B Fraud Get 2018 Trial Date

    A Brooklyn federal judge on Monday set an October 2018 start date for the estimated two-month trial of Mark Nordlicht, the co-founder of hedge fund Platinum Partners, and six others accused of a $1 billion fraud.

  • November 27, 2017

    UK Real Estate Group Shelves IPO For Private Funding

    Real estate investor M7 Multi-Let REIT PLC said Friday it canceled plans for an estimated $400 million initial public offering on the London Stock Exchange and has opted instead to raise money privately, marking the latest of several pulled listings in the United Kingdom.

Expert Analysis

  • How Choice Act Would Change Agency Rule-Making Authority

    Gregory Hesse

    The Financial Choice Act proposes changes to the Congressional Review Act’s process for disapproving regulations issued by certain financial agencies. By replacing a passive disapproval process with an active approval process, a significant amount of power to impose regulations will be retained by Congress, say Gregory Hesse and Abigail Storm of Hunton & Williams LLP.

  • Series

    What I Learned In My 1st Year: Be A Sponge

    Patrick Mendes

    As a new attorney, it was astonishing to realize how little I knew. I soon began to appreciate that everyone I met had a unique take or way of doing something. Many things I learned during that first year from my colleagues are still incorporated into my practice today, says Patrick Mendes of Tyson & Mendes LLP.

  • Series

    Making Pro Bono Work: Beyond The Hurdles

    Ann Warren

    There are various barriers to corporate pro bono work, including lack of malpractice insurance coverage, limited resources, and the transactional nature of the majority of in-house legal work. But at the end of the day, we’ve overcome many of these barriers, says Ann Warren, associate general counsel of Duke Energy Corp.

  • Series

    Judging A Book: Pryor Reviews 'Scalia Speaks'

    Judge William Pryor

    Christopher Scalia and Edward Whelan have published an indispensable collection of the late Justice Antonin Scalia's best speeches. "Scalia Speaks: Reflections on Law, Faith, and Life Well Lived" puts on full display Justice Scalia’s skilled writing, quick wit and uncommon wisdom on a wide range of topics — from law to turkey hunting, says Judge William Pryor of the Eleventh Circuit.

  • Financial Crisis Anniversary

    The Inside Counsel Revolution

    Ben Heineman

    The role of the general counsel has significantly grown in importance, with the GC now often replacing the senior partner in the outside law firm as the primary counselor for the CEO and the board. This inside counsel revolution was given great impetus by the financial crisis that started 10 years ago, says Ben Heineman Jr., former general counsel of General Electric Co.

  • How Arbitrators Maintain Proportionality In Discovery

    Richard Seymour

    There has been much discussion of discovery proportionality in federal litigation since the December 2015 changes to Civil Rule 26. But arbitrators have long used procedures to simplify the discovery process that courts have only recently begun to adopt, says attorney and arbitrator Richard Seymour.

  • Revisiting The $50B Threshold For Stricter Bank Regs

    Satish Kini

    If the Dodd-Frank Act’s $50 billion asset threshold that triggers enhanced prudential standards for banks is revised, the federal banking agencies separately may feel compelled to revisit a range of other regulations and guidance that have used the $50 billion asset line, say attorneys with Debevoise & Plimpton LLP.

  • The Law Firm CFO’s Role In The Strategic Planning Process

    Tyler Quinn

    Today's law firm chief financial officer should be involved in many areas beyond traditional financial management, including operations, risk management and information technology. He or she can support strategic planning throughout the process, from development of the plan to its implementation, measurement and eventual evolution, say Tyler Quinn and Marc Feigelson of Kaufman Rossin PA.

  • SEC's Disclosure Proposal Is A Step In The Right Direction

    Nicolas Grabar

    Recently proposed changes to the U.S. Securities and Exchange Commission’s disclosure requirements could signal a trend to emphasize quality over quantity and principles-based rather than prescriptive rules, which would benefit U.S. public companies and investors alike, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Law Firms Must Transition To An Industry Sector Approach

    Heidi Gardner

    Clients are beginning to expect and demand that their external lawyers provide advice tailored to the client's industry. Aside from this, law firms should want to move toward a sector approach because industry-focused groups are a natural place for cross-practice collaboration to flourish, say Heidi Gardner and Anusia Gillespie of Harvard Law School.