Capital Markets

  • March 8, 2018

    'Wolf Of Wall Street' Film Co. To Pay $60M To End 1MDB Probe

    A California federal judge signed off on a $60 million settlement between the U.S. government and production company Red Granite Pictures Inc. on Thursday, closing out the first two cases in the government’s sprawling probe into billions stolen from Malaysian sovereign wealth fund 1Malaysia Development Bhd.

  • March 8, 2018

    SEC Committee Wants More Disclosure On Dual-Class Shares

    A Securities and Exchange Commission advisory committee on Thursday endorsed a policy recommendation that demands public companies with multiclass stock structures provide their shareholders with better disclosure about the ramifications of such setups, which reserve outsize voting power for company insiders.

  • March 8, 2018

    11th Circ. Urged To Rethink CFTC Award In Metals Fraud

    Two Florida-based precious metals trading companies and their CEO want rehearing of their appeal of a judgment for the U.S. Commodity Futures Trading Commission, saying an Eleventh Circuit panel upheld $1.5 million of the original $2.1 million damages award based on a mischaracterization of the transactions.

  • March 8, 2018

    Investors Fight BNY Mellon Bid To Trim ADR Investor Claims

    Investors accusing the Bank of New York Mellon of overcharging holders of American depositary receipts for converting their foreign-currency dividends into U.S. dollars pushed back Wednesday on the bank’s bid to pare down their suit on timeliness grounds, telling a New York federal court that it’s too soon to say some of the suit’s claims are too late.

  • March 8, 2018

    Investors Seek Cert. In RMBS Suit After Deutsche 'Smears'

    Two investors alleging Deutsche Bank AG didn’t disclose risks related to residential mortgage-backed securities are asking a New York federal judge to disregard the bank’s “latest smears” and appoint them as lead plaintiffs in their proposed securities class action.

  • March 7, 2018

    SEC Warns Of 'Potentially Unlawful' Online Trading Platforms

    The U.S. Securities and Exchange Commission on Wednesday warned investors that platforms trading digital assets, including red-hot initial coin offerings, may not be registered with the agency and thus do not provide the standard investor protections afforded by securities laws.

  • March 7, 2018

    Senate Banking Debate Lurches Toward Vote

    The Senate continued to debate a rollback of some Dodd-Frank Act banking rules Wednesday, with backers claiming reforms would take away pressure that had choked lending by smaller banks in the wake of financial institution reform.

  • March 7, 2018

    CVS Prices $40B Bond Sale To Help Fund Aetna Acquisition

    CVS Health Corp., which is in the process of acquiring health insurance company Aetna Inc. for $69 billion, priced a massive $40 billion bond offering to help fund the acquisition.

  • March 7, 2018

    AT&T's DirecTV Latin America Business Files US IPO

    AT&T Inc.'s DirecTV Latin America unit Vrio Corp. filed an initial public offering on Wednesday that is preliminarily listed to raise $100 million and could potentially lead to a spinoff from the U.S. telecommunications giant, adding to several notable IPOs filling the pipeline.

  • March 7, 2018

    CFTC's Cryptocurrency Authority Backed By Fraud Suit Judge

    A New York federal judge ruled Tuesday that cryptocurrencies can be regulated by the Commodity Futures Trading Commission as commodities, rejecting a fraud defendant's argument that he and his cryptocurrency trading advice company are outside the commodities watchdog’s jurisdiction.

  • March 7, 2018

    Funds Fight To Keep Odebrecht Bond Fraud Suit Alive

    Investment firm DoubleLine Capital LP and its funds have asked a Manhattan federal judge to reject an effort by scandal-wracked Brazilian builder Odebrecht to dismiss their fraud suit, saying they lost millions when Odebrecht’s bribery-centric business strategy came to light.

  • March 7, 2018

    Sirius Capital Partners Spins Off $952M Portfolio To Cibus

    A pair of Sirius Capital Partners funds has spun off a portfolio of 123 grocery-anchored properties in Finland, selling the assets to newly formed Cibus Nordic Real Estate AB for €767 million ($952 million) as the new company prepares to go public later this week, Cibus said Wednesday.

  • March 7, 2018

    Cryptocurrency Real Estate Biz Files $75M ICO With SEC

    Real estate-focused cryptocurrency startup The Praetorian Group filed an anticipated $75 million initial coin offering with the U.S. Securities and Exchange Commission on Tuesday, marking what is believed to be the first company to publicly register its ICO with the agency.

  • March 7, 2018

    Ex-Mercuria Worker Not Entitled To $33M Payout, Judge Says

    A New York federal judge has dismissed a suit by a former employee of global energy company Mercuria Energy Trading seeking a $32.6 million payment for shares he owned in a Mercuria affiliate, saying the employee’s payout was tied to a merger that never happened.

  • March 7, 2018

    NJ Cites Cryptocurrency Co. For Unregistered Securities

    New Jersey has ordered an electronic cash investment vehicle to stop offering allegedly unregistered securities in the state as part of its efforts to crack down on cryptocurrency fraud, the attorney general announced Wednesday.

  • March 7, 2018

    Alston & Bird Adds 3 Finance Partners From Andrews Kurth

    Alston & Bird announced Wednesday that it has expanded its finance capabilities in its New York office, adding three partners and two associates from Andrews Kurth Kenyon LLP with experience helping clients buy and sell loans and securities of distressed or bankrupt companies.

  • March 7, 2018

    SEC Says Couple Can’t Escape Claims Of $22.5M EB-5 Fraud

    The U.S. Securities and Exchange Commission urged a California federal court Tuesday not to dismiss its suit against a husband and wife team it claims fraudulently raised $22.5 million from Chinese investors looking to obtain green cards through the federal EB-5 visa program.

  • March 7, 2018

    Mayer Brown Atty Out After 10 Days Amid Allegations At MoFo

    Mayer Brown LLP confirmed on Wednesday that it has parted ways with a New York-based capital markets partner — 10 days after announcing it had hired him — following allegations that the partner engaged in “inappropriate conduct” at his previous firm.

  • March 7, 2018

    App-Based Atom Bank Nabs £149M More In Funding

    App-based banking startup Atom Bank PLC said Wednesday it has raised £149 million ($206.8 million) to further invest in its technology and business capabilities, with most funding coming from cornerstone investors Toscafund Asset Management LLP and Banco Bilbao Vizcaya Argentaria SA.

  • March 7, 2018

    Wells Fargo Sues Fund For $16M Over Missed Margin Calls

    Wells Fargo Securities LLC leveled a lawsuit at LJM Investment Fund LP in New York federal court on Tuesday, seeking to recover more than $16 million the financial giant says it doled out to cover the commodity pool’s losses in February’s stock market fall.

Expert Analysis

  • The Challenges Of Bitcoin Financing

    Matthew Frankle

    As the price of bitcoin continues to rise, so does the demand for financing secured by bitcoin. Lenders need to ensure they are complying with existing law — law that did not develop with bitcoin in mind, including the Commodity Exchange Act, say Matthew Frankle and Nora Wong of Greenberg Traurig LLP.

  • America's Shifting Views On Marijuana Post-Cole Memo

    Jonathan Robbins

    Although Attorney General Jeff Sessions' rescission of the Cole memo does not change federal law, negative response to the rescission across the cannabis sector and political landscape was strong, swift and bipartisan, which may lead to congressional action in the future, say Jonathan Robbins and Joshua Mandell of Akerman LLP.

  • NJ’s Evolving Health Care Arena: Trends To Watch In 2018

    John Fanburg

    New Jersey is one of the most competitive and heavily regulated states in terms of health care, making it a good barometer for how the industry is evolving nationally. As physicians and medical groups deal with issues like flat reimbursement from insurance providers and the rapidly rising costs of operating a medical practice, the ways in which doctors deliver health care will continue to change in 2018, says John Fanburg of Brach Eichler LLC.

  • 6 E-Discovery Predictions For 2018

    Erich Potter

    Erich Potter, discovery counsel with Oles Morrison Rinker & Baker LLP, discusses six ways e-discovery will continue to excite and confound in 2018.

  • Reg A-Plus Is Perfect For Initial Coin Offerings

    Aaron Kaplan

    As initial coin offerings are a means to effectuate crowdfunded capital formation, issuers will likely try to meet one of the three securities registration exemptions in the Jobs Act. Aaron Kaplan of Gusrae Kaplan Nusbaum PLLC explains why the exemption under Regulation A-Plus is the most suitable.

  • 6 Roles To Embrace In An Evolving Legal Industry

    Rob MacAdam

    Smart law firms are increasingly positioning professionals to proactively guide them as the legal landscape reshapes itself, harnessing six emerging roles within their organizational charts to embrace new approaches, tools and systems, says Rob MacAdam of HighQ.

  • A Big Year For US IPOs By Chinese Companies

    Fang Liu

    The U.S. capital markets produced 24 initial public offerings by China-based companies in 2017, making it the most active IPO year for Chinese companies in about seven years. Here, members of Mei & Mark LLP and Weitian Group LLC discuss two distinctive trends that emerged last year.

  • Opinion

    This Year, Let’s Invest In Lawyer Resiliency

    Highly profitable companies have comprehensive corporate wellness programs that realize plateauing health care costs, greater employee engagement, and a demonstrable competitive advantage. The legal field needs a similar awakening, says Rudhir Krishtel, a former partner of Fish & Richardson and senior patent counsel at Apple.

  • 5 Legal Technology Predictions For 2018

    Jeff Ton

    While each new year is expected to bring fresh challenges to the legal industry, 2018 will be particularly disruptive to the status quo. Both law firms and organizations that cater to the legal community should prepare for developments like increasing pressure from international clients and data security risks caused by multigenerational gaps, says Jeff Ton of Bluelock LLC.

  • 5 Pressing Issues Facing The SEC In 2018

    Britt Biles

    The U.S. Securities and Exchange Commission will grapple with a great deal of unfinished business this year. In fact, these issues will dwarf the natural changes that the SEC will undergo as it continues to transition to new leadership, says Britt Biles of Stein Mitchell Cipollone Beato & Missner LLP.