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Capital Markets

  • October 25, 2018

    Deutsche Bank, HSBC Seal $340M Deal To Exit Libor MDL

    Deutsche Bank AG and HSBC Inc. won final approval Wednesday of two settlements totaling $340 million that allow them to exit multidistrict litigation accusing numerous banks of manipulating one of the world’s leading benchmarks for interest on short-term loans, the London Interbank Offered Rate.

  • October 25, 2018

    BoE Weighs Charging Foreign Clearinghouses For Status

    The Bank of England on Thursday proposed charging central counterparties based outside the U.K. a fee of £35,000 ($44,800) when they apply to be recognized in Britain, both before and after Brexit.

  • October 24, 2018

    Investors Urge Exchanges To Phase Out Dual-Class Voting

    An investor group on Wednesday petitioned both major stock exchanges to require issuers that use so-called dual-class share structures, which grant outsize voting power to company founders, to phase out such arrangements within seven years after the initial public offering, arguing that unequal voting systems deprive shareholders of a say in corporate affairs.

  • October 24, 2018

    Deals Rumor Mill: CommScope, Endeavor, Innovent

    CommScope is reportedly discussing a deal to buy Arris International PLC, Endeavor Energy Resources is mulling a sale after industry powerhouses expressed interest in taking over the company, and Innovent Biologics raised $421 million after pricing its Hong Kong public offering close to the top of its projected range.

  • October 24, 2018

    Tesla Says Method Of Merging Tweet Suits 'Makes No Sense'

    Tesla Inc. and its CEO Elon Musk told a California federal court Tuesday that bids to consolidate nine proposed class actions over Musk’s going-private tweets were brought on behalf of groups of unrelated people and seek to represent both buyers and sellers of Tesla shares in a way that “makes no sense.”

  • October 24, 2018

    Boston Blockchain Payments Co. Nabs $62M In Equity

    Boston-based blockchain payments platform Algorand on Wednesday said it reaped a $62 million equity investment from investors in the cryptocurrency, venture capital and financial services industries and additionally named both a new CEO and chief operating officer.

  • October 24, 2018

    Robbins Arroyo Seeks Lead In Fatburger Parent IPO Suit

    A Fat Brands Inc. shareholder has urged a California federal court to approve him as lead plaintiff in a proposed securities class action and to appoint Robbins Arroyo LLP as his counsel, arguing he has the greatest financial interest in the suit claiming the restaurant company made false statements when launching an initial public offering.

  • October 24, 2018

    Ex-Deutsche Trader Charged Over Euribor Scandal Gets Bail

    Former Deutsche Bank AG trader Andreas Hauschild was ordered to pay £700,000 ($904,000) bail security at a criminal court hearing in London on Wednesday after being charged with conspiracy to defraud in connection with the Euribor rate-rigging scandal.

  • October 23, 2018

    Coinbase Escapes Suit Over Bitcoin Cash Release, For Now

    A California federal judge on Tuesday dismissed a proposed investor class action against Coinbase Inc. claiming the cryptocurrency exchange artificially inflated bitcoin cash prices by abruptly opening the market to trades and then closing minutes later, saying the claims lacked support but a revised suit could be filed.

  • October 23, 2018

    UK Top Court Dashes US Hopes To Extradite Ex-HSBC Trader

    A British former foreign currency trader at HSBC charged in the U.S. with defrauding a client through a so-called front-running scheme will remain free from prosecution for now, as the U.K.'s highest court has denied an appeal seeking his extradition.

  • October 23, 2018

    Ex-Citi Trader Rips Colleague's Forex Collusion Trial

    A former Citigroup Inc. foreign exchange trader on Tuesday told jurors in the forex-rigging trial of traders for Barclays PLC, Citi and JPMorgan Chase & Co. that the case was “ludicrous," casting the allegedly collusive "cartel" chatroom evidence as benign.

  • October 23, 2018

    Netflix Continues Its Borrowing Streak, Seeks $2B In Bonds

    Netflix Inc. said Tuesday it priced bonds totaling more than $2 billion in U.S. dollars and euros, continuing its streak of borrowing in recent years that could help the company beef up content or make acquisitions.

  • October 23, 2018

    Puerto Rican Board Fights Creditors' Collateral Bid At 1st Circ.

    The government agency representing Puerto Rico's largest public pension fund has asked the First Circuit to uphold a ruling denying bondholders' claims to the fund's collateral under the island’s bankruptcy process.

  • October 23, 2018

    UK Biotech Orchard Primes $200M IPO Led By Goodwin

    London-based biotechnology firm Orchard Rx Ltd., represented by Goodwin Procter LLP, set a price range on an estimated $200 million initial public offering on Tuesday, joining an IPO pipeline that heavily consists of health care-related issuers.

  • October 23, 2018

    HBUS Nabs First Female African-American GC In Crypto

    HBUS Inc., the U.S. strategic partner of cryptocurrency exchange Huobi, has hired an attorney with in-house experience at Intuit, Google and Yahoo as its general counsel, making her the first African-American woman to serve in that role for a digital currency marketplace, the company announced Tuesday.

  • October 23, 2018

    EBA To Focus On Basel III, Fintech, Brexit In 2019

    The European Banking Authority said in a report published Tuesday that enforcing Basel III's new capital rules, refining guidance on fintech and relocating its headquarters from London to Paris are its main priorities for 2019.

  • October 23, 2018

    UK Proposes Tweaks To Derivatives Market Laws For Brexit

    The U.K. government has set out its latest contingency plans for financial services legislation as the Brexit date nears, as it focuses on ensuring that the legal framework for the derivatives market remains effective in the event of a "no deal" divorce from the European Union.

  • October 22, 2018

    Expert In Forex 'Cartel' Trial Says Trades Seem Legit

    Counsel for a former Citigroup Inc. foreign exchange trader accused of colluding with rival banks to suppress competition in the forex market sought to poke holes in the government’s theory of the case on Monday, with a defense expert describing the purportedly suspect trades as aboveboard.

  • October 22, 2018

    Suit Alleging Retaliation Over 'Spoofing' Scheme Gets Tossed

    An Illinois federal judge on Monday dismissed a suit brought by a businessman whose former partner allegedly fired him and then threatened him into staying silent about a "spoofing" scheme, saying the business dispute doesn’t seem to have violated federal law.

  • October 22, 2018

    Utah Dentist Intended To Defraud US, 10th Circ. Affirms

    A Utah federal court had sufficient evidence to find that a dentist intended to defraud the U.S. by participating in a tax avoidance scheme, negating any statute of limitations on the action, a Tenth Circuit panel ruled Monday.

Expert Analysis

  • How Reckless Judicial Impeachments Threaten Rule Of Law

    Jan van Zyl Smit

    Judicial impeachment fever seems to be spreading through the states, with West Virginia legislators recently voting to remove their state's entire Supreme Court, and lawmakers in Pennsylvania and North Carolina threatening the same. These actions are a serious threat to judicial independence, says Jan van Zyl Smit of the Bingham Centre for the Rule of Law.

  • Series

    Judging A Book: Fogel Reviews 'Good Judgment'

    Judge Jeremy Fogel

    In this time of partisan conflict over judicial selection, a new book by Canadian jurist Robert J. Sharpe —​ "Good Judgment" — represents a refreshing, deeply thoughtful departure from binary arguments about how and why judges make decisions, says U.S. District Judge Jeremy Fogel, director of the Federal Judicial Center.

  • 10 Ways To Prevent E-Discovery Woes

    Debbie Reynolds

    E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.

  • 4 Key Components To New Firm Partnership Agreements

    Russell Shinsky

    A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Russell Shinsky of Anchin Block & Anchin LLP.

  • Opinion

    Open The Federal Courthouses

    David Oscar Markus

    Forget about cameras, reporters in the Manafort trial were not even permitted in the courtroom with their phones, tablets or computers. That meant no live reporting on Twitter and no emails to the newsrooms with updates. In a world focused on information and news as it happens, this is unacceptable, says trial attorney David Oscar Markus.

  • The Year Of The Crypto Investigation

    Daniel Payne

    There has been a flurry of subpoenas and investigations into cryptocurrency trading and initial coin offerings in the first eight months of this year. These investigations, on the rise, are coming from both state and federal regulators, says Daniel Payne of Murphy & McGonigle PC.

  • Series

    Winner's Playbook: Behind The Scenes Of China Ag V. Resh

    Seth Aronson

    Earlier this year, the U.S. Supreme Court ruled unanimously in China Agritech v. Resh that statutes of limitations cannot be tolled for subsequent class actions. Here, members of the O'Melveny & Myers LLP team that defended China Agritech describe how an otherwise routine securities case turned into a far-reaching check on serial class actions.

  • 'High Availability' — A Key Term In Law Firm IT Strategy

    Jeff Norris

    While most law firm executives and partners may instinctively want to tune out terms like "high availability" and "disaster recovery" — concepts that IT managers usually worry about — there are five reasons you should lean in and wrestle with the vocabulary, say Jeff Norris of Managed Technology Services LLC and Greg Inge of information security consulting firm CQR.

  • The 'Post-Fact' Jury In The 'Fake News' Era

    Ross Laguzza

    The "fake news" phenomenon is ever more prominent in the political arena — but not in the jury box. At a trial, jurors don’t have to rely on the media or any other source to tell them the facts and issues, since they have a front-row seat to the action, says Ross Laguzza, a consultant at R&D Strategic Solutions LLC.

  • Stock Exchange Immunity Erodes As Biz Models Evolve

    Stephen Bedell

    The national securities exchanges are now profit-seeking commercial enterprises, but they continue to argue that they are absolutely immune from suits arising from a wide range of competitive activity. Courts, however, are rejecting these arguments, and it is likely that the U.S. Securities and Exchange Commission will address the matter soon, say attorneys with Foley & Lardner LLP.