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Capital Markets

  • July 30, 2018

    Mesa Air Group Leads 2 IPOs Totaling $268M

    U.S. air carrier Mesa Air Group Inc. and New York-based Amalgamated Bank launched initial public offerings Monday worth a combined $268 million at midpoint.

  • July 30, 2018

    3 Firms Steer Grit Real Estate Income's $132M Raise

    Grit Real Estate Income Group Ltd. has raised just over $132 million in advance of its planned listing on the London Stock Exchange later this week, and three law firms are helping the company with the matter, according to an announcement from the Africa-focused real estate firm on Monday.

  • July 30, 2018

    15 Minutes With OTC Markets Group's General Counsel

    Besides general knowledge of the law, one of the main qualities Dan Zinn looks for in attorneys who want to join his legal department at OTC Markets Group, which operates over-the-counter trading venues for about 10,000 U.S. and global securities, is a candidate who has a sense of ownership. Here, the top lawyer shares why he moved in-house and what's included in his typical day.

  • July 30, 2018

    Feds Give Up On Litvak, Drop Charge In Lieu Of 3rd Trial

    Federal prosecutors moved to dismiss the sole remaining charge against former Jefferies Group bond trader Jesse Litvak on Monday, ending a five-year criminal case in which Litvak was convicted twice and saw convictions from both trials overturned.

  • July 30, 2018

    Deutsche Bank Steps Up Euro Clearing Move From London

    Deutsche Bank AG has moved nearly half its euro clearing activities from London to Frankfurt in preparation for the U.K.’s withdrawal from the European Union, a spokesperson for the firm confirmed on Monday.

  • July 27, 2018

    Law360 Names Top Attorneys Under 40

    The 168 attorneys selected as Law360's 2018 Rising Stars are lawyers whose accomplishments belie their age. From guiding eye-popping deals to handling bet-the-company litigation, these elite attorneys under 40 are leading the pack.

  • July 27, 2018

    Ex-Barclays Trader Says Lack Of Duty To HP Undoes FX Case

    A former Barclays PLC trader asked a federal judge to ax the criminal “front running” case against him on Friday, arguing that Barclays had no duty to act in the best interests of Hewlett Packard Co. in a £6 billion foreign currency options transaction.

  • July 27, 2018

    Deutsche Wants Privilege Log Order Paused In RMBS Suit

    Deutsche Bank National Trust Co. has asked a New York federal magistrate judge to put the brakes on a recent order that could force it to turn over tens of thousands of documents from its privilege log to investors it’s battling in litigation over residential mortgage-backed securities trusts it oversees.

  • July 27, 2018

    Convicted Ex-Stockbroker Charged Again In Microcap Scheme

    Federal authorities filed criminal and civil charges against a former stockbroker on Friday, alleging that within two years of his release from prison for previous convictions, he conspired to manipulate the market for at least three microcap companies in a scheme that netted him at least $3 million.

  • July 27, 2018

    Tibet Pharma Investors Escape Dismissal For Now In IPO Row

    A New Jersey federal judge on Friday rejected a bid to remove three lead plaintiffs from a class action alleging Tibet Pharmaceuticals Inc. lied about its financial health before its 2011 initial public offering, saying discovery was needed to determine whether they have standing to remain in the case.

  • July 27, 2018

    Deals Rumor Mill: Tyson, Saudi Aramco, Enel

    Tyson Foods is reportedly negotiating a deal to buy Keystone Foods, Saudi Aramco is considering funding its deal for SABIC through the international bond market, and Enel is prepared to talk about selling its share of EF Solare to F2i.

  • July 27, 2018

    Cooley-Led UK Technology Co. Tops 2 IPOs Totaling $242M

    London-based technology company Endava Ltd., led by Cooley LLP, raised $127 million on Friday in an upsized initial public offering that priced above its range and was joined by a Norwegian web browser provider that raised $115 million, closing out a week in which more than 10 companies began publicly trading.

  • July 27, 2018

    AbbVie Investors Sue Over 1-Day $100M Stock Drop

    A proposed class of AbbVie Inc. investors filed a stock drop suit against the pharmaceutical company in Illinois federal court Thursday, saying a corrective disclosure related to the company’s May stock buyback efforts led to a collective $100 million loss in value for the shareholders.

  • July 27, 2018

    Deutsche Wins Appeal To Keep Italian Swaps Dispute In UK

    A dispute between Deutsche Bank and an Italian municipality over the validity of two interest rate swaps can be fought in the English courts, a London appeals court ruled Friday.

  • July 26, 2018

    SEC Again Says No To Winklevoss Twins' Bitcoin ETF

    The U.S. Securities and Exchange Commission has again denied an application for the Winklevoss brothers to launch the first bitcoin-based exchange-traded fund, citing concerns about the lack of oversight in the underlying bitcoin market.

  • July 26, 2018

    Warren, Sanders Introduce Bill To Ax Puerto Rico Debts

    Sen. Bernie Sanders, I-Vt., Sen. Elizabeth Warren, D-Mass., and three of their Democratic colleagues on Wednesday introduced a bill that would allow disaster-torn Puerto Rico to significantly reduce the debilitating debt they say is blocking the U.S. territory’s recovery.

  • July 26, 2018

    E-Commerce Co. Pinduoduo Leads 7 IPOs Totaling $2.7B

    Advised by Skadden Arps Slate Meagher & Flom LLP, Chinese e-commerce company Pinduoduo raised $1.6 billion in its initial public offering, exceeding previous estimates and outpacing six other companies that raised a combined $1.14 billion when they also went public Thursday morning.

  • July 26, 2018

    Quinn Emanuel, Kessler Topaz Top List To Lead VIX MDL

    Despite several lead counsel applications flooding the docket in multidistrict litigation over alleged Chicago Board Options Exchange's volatility index manipulation, the proposed teams at Quinn Emanuel Urquhart & Sullivan LLP and Robbins Geller Rudman & Dowd LLP as well as Kessler Topaz Meltzer & Check LLP and Scott & Scott LLP emerged Wednesday as the favorites to lead the MDL’s litigation with extra support on the docket.

  • July 26, 2018

    Feds Notch 1st Plea Deal In Beaufort Fraud Investigation

    A Mauritius man with a law degree who made shell companies for an undercover agent in the Beaufort Securities fraud case admitted to money laundering in Brooklyn federal court Thursday and will face a potential sentence of four to six years behind bars.

  • July 26, 2018

    BofA, Barclays, 3 Others Duck Silver Price-Fixing Claims

    A New York federal judge dismissed Bank of America Corp., Barclays Bank PLC and three other major banks Wednesday from multidistrict litigation over an alleged conspiracy to fix the price of silver, saying the investors haven't demonstrated that the banks' manipulation of the silver market would necessarily cause them to pay different prices.

Expert Analysis

  • Breaking Down The 2nd Criminal Spoofing Trial: Part 2

    Clifford Histed

    The criminal prosecution of Andre Flotron was ill-fated and suffered from a series of missteps and miscalculations by the government. However, it is now beyond any legitimate dispute that spoofing occurs, that it is illegal, that prosecutors are willing and able to charge spoofing as a criminal violation, and that it is possible to prove those charges in court, say attorneys with K&L Gates LLP.

  • Breaking Down The 2nd Criminal Spoofing Trial: Part 1

    Clifford Histed

    The recent acquittal of former UBS trader Andre Flotron in the second spoofing case to go to trial has resulted in comparisons to the spoofing-related conviction of Michael Coscia in 2015. But there are significant differences between the two cases that make such comparisons difficult, say attorneys with K&L Gates LLP.

  • Ripple Labs Case Will Address Key Cryptocurrency Question

    Christian Everdell

    Do cryptocurrencies that function primarily as a medium of exchange qualify as securities? An answer may be coming sooner than expected — not from the U.S. Securities and Exchange Commission but from a California federal court in Coffey v. Ripple Labs, says Christian Everdell, counsel at Cohen & Gresser LLP and a former assistant U.S. attorney.

  • Impediments To Legal Industry's 'Inevitable' Future: Part 2

    Craig Levinson

    I agree with the legal pundits speculating that NewLaw’s present and future disruptors will radically change the legal services industry, but that change may not come quite as rapidly as predicted. Regardless, now is the time for both the incumbents and the challengers to best position themselves for the eventual shakeup, says Craig Levinson, founder of Levity Partners.

  • Dr Pepper Shines Spotlight On Delaware Appraisal Rights

    Gail Weinstein

    The Delaware Chancery Court recently held that appraisal rights are not available to the stockholders of Dr Pepper in connection with the company's proposed merger with Keurig Green Mountain, raising the question of whether the reverse triangular merger structure in this case will be utilized in other transactions to eliminate appraisal rights, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Impediments To Legal Industry's 'Inevitable' Future: Part 1

    Craig Levinson

    Legal pundits continue to make predictions that newer entrants into the industry — NewLaw firms, the Big Four and alternative legal service providers — will progressively seize greater amounts of market share from traditional law firms. But the BigLaw response has been underwhelming at best, and a glimpse at the market forces puts its lack of urgency into perspective, says Craig Levinson, founder of Levity Partners.

  • Credit Default Swaps And The Hovnanian Exchange Offer

    Anthony Nolan

    The recently completed exchange offer for K. Hovnanian Enterprises’ senior notes has roiled the world of credit default swaps — at least one lawsuit has been filed and regulators have expressed concerns about market manipulation. Anthony Nolan and Hilda Li of K&L Gates LLP explain why the Hovnanian debt restructuring has stoked concern about the integrity of the CDS market.

  • Kokesh And Its Impact On SEC Enforcement, A Year Later

    Matthew Solomon

    One year ago, the U.S. Supreme Court ruled in Kokesh that the U.S. Securities and Exchange Commission’s disgorgement remedy is subject to a five-year statute of limitations. This has had a quantifiable effect on the agency’s enforcement program, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Opinion

    Why Widespread Use Of Live Video Testimony Is Not Justified

    Geoffrey Wyatt

    Despite the partiality some courts have shown to live video testimony, it provides no advantages — and several disadvantages — over the tried-and-true method of videotaped depositions, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Series

    Judging A Book: Wallach Reviews 'Uncivil Warriors'

    Judge Evan Wallach

    "Uncivil Warriors: The Lawyers' Civil War," by Peter Hoffer, is a new book about the involvement of lawyers on both sides in the American Civil War. The discussion is enlightening and often fascinating, but falls short in several key areas, says Federal Circuit Judge Evan Wallach.