Capital Markets

  • April 09, 2024

    Crypto Mining CEO's Asset Freeze Fight Axed At 11th Circ.

    An Eleventh Circuit panel has rejected a bid to lift an asset freeze by a man accused of running a crypto mining scheme, ruling U.S. financial industry regulators did not have to formally serve him before asking a court to block activity in his financial accounts.

  • April 09, 2024

    House GOP To Air Measure Rejecting SEC Climate Rule

    The U.S. House of Representatives' Financial Services Committee will hold a hearing Wednesday morning addressing the U.S. Securities and Exchange Commission's climate disclosure rules, where a leading Republican member of the committee is expected to put forth a resolution that would nullify the rules.

  • April 09, 2024

    TD Bank Wants 'Absurd' First Horizon Merger Suit Tossed

    TD Bank has urged a New Jersey federal judge to dismiss a proposed class action from investors over the bank's failed merger with First Horizon, saying the investors can't sue because the deal never closed and the suit's asserted scienter claim "defies commonsense."

  • April 09, 2024

    Life Sciences GCs On Tighter Regs, Outside Counsel Advice

    General counsel at life sciences venture capital firms are navigating increased regulation in healthcare and looking to outside counsel to act as true advisers and problem-solvers as the healthcare industry becomes more complex.

  • April 09, 2024

    Treasury Renews Call For Tools To Combat Crypto Crime

    Deputy Treasury Secretary Wally Adeyemo on Tuesday renewed his call to Congress for additional tools to combat cryptocurrency's use by bad actors as lawmakers floated their own priorities for a cryptocurrency regulatory regime.

  • April 09, 2024

    Fund Managers Want Ga. Attys' Tax Shelter Fraud Suit Tossed

    A fund manager accused of misleading investors into an illegal tax shelter want a Georgia federal court to throw out the proposed class action against them, claiming the facts alleged in an updated complaint still aren't specific enough for court.

  • April 09, 2024

    Insurer Owes $2M For Loan Scheme, Financing Co. Says

    An industrial financing company is seeking over $2 million in coverage after it alleged it was defrauded of over $4.5 million by an agricultural equipment company to which it provided millions in financing, telling an Arkansas federal court its insurer wrongfully denied coverage for the "dishonest acts."

  • April 09, 2024

    Venezuelan Oil Co. Gets $2B Bond Fraud Suit Nixed In NY

    A New York federal judge has nixed VR Capital's lawsuit accusing Venezuela's state-owned oil company of fraud in connection with its issuance of some $2 billion in since-defaulted bonds, ruling that the asset manager couldn't prove that PDVSA had never intended to repay the bonds.

  • April 08, 2024

    BitMEX Co-Founder Can't Escape Investors' Manipulation Suit

    A case against a co-founder of cryptocurrency trading platform BitMEX will move forward after a Manhattan federal judge found investors showed the executive was "central" to an alleged manipulation scheme that benefited the firm at the expense of its customers.

  • April 08, 2024

    W.Va. Blocks Citi, HSBC, Others Over Fossil Fuel 'Boycotts'

    West Virginia's state treasurer announced Monday that Citigroup Inc., HSBC Holdings PLC, TD Bank NA and The Northern Trust Co. are ineligible for state banking contracts, finding they boycott fossil fuel companies under a Mountain State law, while two other banks escaped such a designation.

  • April 08, 2024

    Canadian Atty Settles SEC's Penny Stock Claims For $335K

    The U.S. Securities and Exchange Commission has inked a $335,000 settlement with a Canadian lawyer to end claims that he enabled a penny stock fraud scheme by working with a California trader as an unregistered broker, court filings on Monday show.

  • April 08, 2024

    Mich. Regulators' Fraud Fears Are 'Nonsense,' Developer Says

    A real estate developer has told Michigan's high court that the state is raising unfounded concerns that Michigan will become a haven for fraudsters if the top court does not adopt a federal judicially created test to determine when an investment is a security, telling the justices Michigan's own securities law is controlling.

  • April 08, 2024

    SEC 'Shadow Trading' Victory Could Bring DOJ Knocking

    Now that the U.S. Securities and Exchange Commission has convinced a jury that a pharmaceutical executive committed insider trading by purchasing a competitor's stock in a practice often referred to as "shadow trading," attorneys say federal prosecutors might be tempted to dip their toe into the waters of the previously untested legal theory.

  • April 08, 2024

    Southwest Gas Unit Centuri Eyes Spinoff Through $242M IPO

    Southwest Gas Holdings Inc.'s infrastructure services unit Centuri Holdings Inc. on Monday unveiled terms for an estimated $242 million initial public offering that would lead to Centuri becoming a standalone public company, represented by Morrison Foerster LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

  • April 08, 2024

    Czech Firm Says Its Vista Deal Offers Benefits Over Rival Bid

    Czechoslovak Group A.S. on Monday reaffirmed its commitment to its planned $1.9 billion acquisition of Vista Outdoor's sporting products business, which is also being pursued by rival bidder MNC Capital, noting that it has fully committed financing and has already received antitrust clearance from the Federal Trade Commission.

  • April 08, 2024

    Walmart-Backed Digital Marketer Ibotta Primes $450M IPO

    Walmart-backed digital marketing platform Ibotta Inc. on Monday launched plans for an initial public offering led by Wilson Sonsini Goodrich & Rosati PC that could raise $450 million, hoping to tap a thawing IPO market for technology issuers.

  • April 08, 2024

    Catching Up With Delaware's Chancery Court

    Last week, a much-watched Chancery Court Match.com decision got reversed, a Philip Morris motion got stubbed out, and a long-frozen Blue Bell Creameries suit started churning again. Delaware's Court of Chancery also saw new suits filed for legal fees, arguments over multibillion-dollar pay packages, and a judge flummoxed over Truth Social.

  • April 08, 2024

    Ex-IRS Criminal Investigations Head Joins Crypto Data Firm

    A newly retired chief of the Internal Revenue Service's law enforcement arm is taking his skills to blockchain analytics firm Chainalysis, where he'll help federal agencies and crypto firms leverage Chainalysis' data and solutions to combat financial crime.

  • April 08, 2024

    Tradeweb Pays $785M For Investment Tech Firm ICD

    Tradeweb Markets Inc., advised by Fried Frank Harris Shriver & Jacobson LLP, on Monday announced that it has agreed to buy institutional investment technology provider Institutional Cash Distributors LLC, advised by Kirkland & Ellis LLP, for $785 million.

  • April 08, 2024

    Glancy Prongay To Lead EB-5 Grocery Co. Fraud Stock Suit

    Glancy Prongay & Murray LLP will lead a proposed class action alleging Asian specialty grocery chain Maison Solutions' stock price was severely damaged after a third-party research report accused it and its executives of participating in illegal activities, including using supermarkets as a front for immigration fraud.

  • April 08, 2024

    3 Firms Build $2.3B Hospitality Biz SPAC Merger

    Singapore-headquartered Hotel101 Global Pte Ltd., a hotel prop-tech operator pioneering a standardized "condotel" business model, announced Monday that it plans to go public through a merger with blank-check company JVSPAC Acquisition Corp. in a deal built by three firms that will give it an equity value of $2.3 billion post-closing.

  • April 08, 2024

    Linklaters Guides Cosmetics Biz On €1.25B Raise In EU IPO

    Cosmetics group Puig, which owns the beauty brand Charlotte Tilbury, said on Monday that it plans to raise more than €1.25 billion ($1.35 billion) through a flotation in Spain, in a sign of revival for European equity capital markets.

  • April 05, 2024

    Perrigo Inks $97M Deal With Investors In Securities Fraud Suit

    A class of investors suing Perrigo Co. PLC asked a New Jersey federal judge Friday to approve a $97 million settlement after the court trimmed several claims in the suit alleging the pharmaceutical company's executives made misleading statements to defeat a potential $29 billion takeover attempt.

  • April 05, 2024

    Starbucks Tells Judge Union Dealings Aren't 'Mission Critical'

    Starbucks denied Friday that complying with federal labor law was "mission critical" to its business as it urged a Washington state judge to dismiss a shareholder suit accusing company leaders of union busting, which they say tanked Starbucks' reputation.

  • April 05, 2024

    Genesis Used GBTC Share Proceeds To Buy 32,041 Bitcoin

    Cryptocurrency lender Genesis Global Holdco said it had fully monetized its Grayscale Bitcoin Trust shares and used the proceeds to purchase 32,041 bitcoin that will be distributed to its customers.

Expert Analysis

  • The Most-Read Legal Industry Law360 Guest Articles Of 2023

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    A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.

  • What The 2023 Bank Failures Taught Us, And What's To Come

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    As 2023 draws to a close, it's apparent that the bank failures this past spring sparked a seismic shift in the regulatory and supervisory landscape for banking organizations, and the consequences are still continuing to be felt throughout the financial sector as we head into 2024, say attorneys at Morgan Lewis.

  • How SEC And NY Cyber Reporting Rules Affect Key Industries

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    The new U.S. Securities and Exchange Commission and New York State Department of Financial Services cybersecurity disclosure requirements, and their competing obligations, reveal the increasing complexity for organizations evaluating and reacting to cybersecurity incidents — particularly those in the healthcare and financial services industries, say attorneys at Manatt.

  • Attorneys' Busiest Times Can Be Business Opportunities

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    Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.

  • A Difficult Year For CRE, But Future May Be Brighter

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    2023 was a challenging year for the commercial real estate industry, marked by significant uncertainty, but market pressure and signs of rising interest rates provide some reasons to be cautiously optimistic for the year ahead as pandemic headwinds and gridlock fade away, say attorneys at Ropes & Gray.

  • In The World Of Legal Ethics, 10 Trends To Note From 2023

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    Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.

  • Volume-Based Transaction Pricing Proposal Raises Questions

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    A rule recently proposed by the U.S. Securities and Exchange Commission, which would prohibit securities exchanges from offering volume-based transaction pricing for agency or riskless principal orders in certain stocks, is meant to address competitive concerns — but there are reasons to question the logic behind this proposal, say attorneys at Sidley.

  • What WeWork's Ch. 11 Filing Means For Landlords

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    WeWork’s recent Chapter 11 filing in New Jersey has the potential to be one of the most consequential cases in the real estate industry in many years, and presents a number of issues for landlords, including unexpired leases, assumption, assignment and more, say attorneys at Mayer Brown.

  • SEC, NY Cybersecurity Rules Create Complexity For Insurers

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    Two separate cybersecurity rules recently adopted by the New York Department of Financial Services and the U.S. Securities and Exchange Commission pose distinct challenges for insurance industry participants, with important interactions, and potential tensions, for those required to comply with both frameworks, say attorneys at Debevoise.

  • How Attorneys Can Be More Efficient This Holiday Season

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    Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.

  • Top 10 Whistleblowing And Retaliation Events Of 2023

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    The U.S. Securities and Exchange Commission and federal and state courts made 2023 another groundbreaking year for whistleblower litigation and retaliation developments, including the SEC’s massive whistleblower awards, which are likely to continue into 2024 and further incentivize individuals to submit tips, say attorneys at Proskauer.

  • Understanding Advance Notice Bylaws Is Key For All Parties

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    Recent developments in Delaware case law show that advance notice bylaws will be strictly construed and that Delaware courts will generally uphold clear, unambiguous bylaws adopted and applied reasonably, a lesson for both companies and stockholders alike as the number of companies rejecting director nominations by dissident stockholders has increased, say attorneys at MoFo.

  • Series

    Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • A Review Of 2023's Most Notable Securities Litigation

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    There is much to be learned from the most prominent private securities cases of 2023, specifically the Tesla trial, the U.S. Supreme Court's Slack decision and the resolution of Goldman Sachs litigation, but one lesson running through all of them is that there can be rewards at the end of the line for defendants willing to go the distance, say attorneys at Fried Frank.

  • ESG Investing Caught In Culture War Crosshairs In 2023

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    As 2023 draws to a close, ESG investing remains a raging battleground in the U.S. culture wars, as illustrated by the array of legislative efforts across the country aimed variously at restricting or promoting the use of ESG investing — but it remains to be seen what practical impact, if any, these laws will have, say Amy Roy and Robert Skinner at Ropes & Gray.

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