Capital Markets

  • November 14, 2025

    MVP: HSF Kramer's Gilbert K.S. Liu

    Gilbert K.S. Liu, who helped plan Kramer Levin's merger with Herbert Smith Freehills, led a $498.5 million securitization of Tesla solar retail installment contracts and a $228.2 million securitization of Puerto Rico solar and energy storage loans, earning him a spot as one of the 2025 Law360 Complex Financial Instruments MVPs.

  • November 14, 2025

    6 Firms Guide Warburg Pincus-Led $1.4B ECN Capital Buyout

    Toronto-based ECN Capital Corp. announced that it has agreed to be taken private by an investor group led by Warburg Pincus, in an all-cash transaction valuing the specialty finance company at roughly 1.9 billion Canadian dollars ($1.4 billion).

  • November 14, 2025

    SEC's Atkins Turns A Critical Lens On BlackRock, Vanguard

    U.S. Securities and Exchange Commission Chairman Paul Atkins said Friday morning that his agency is working to rein in large institutional asset managers like BlackRock and Vanguard that "get out of line" by trying to influence management decisions.

  • November 14, 2025

    Fintech Co. Synapse's Ch. 11 Tossed After Failed Sale Efforts

    Former banking middleware firm Synapse Financial Technologies Inc.'s Chapter 11 has been dismissed by a California bankruptcy judge after the debtor said it didn't have the funds to try to sell its assets again.

  • November 14, 2025

    Gibson Dunn, Cooley Guide Merck's $9.2B Cidara Buy

    Gibson Dunn & Crutcher LLP-advised Merck on Friday said it will broaden its respiratory portfolio with a $9.2 billion deal to buy Cooley LLP-led Cidara Therapeutics, betting that an investigational antiviral could help the company tackle the global health burden of seasonal influenza.

  • November 13, 2025

    As Backlogged SEC Reopens, Attys Jostle To 'Get In Line'

    Thousands of U.S. Securities and Exchange Commission employees who were sent home last month finally returned to their offices Thursday, and experts say it will likely take at least a month for them to catch up with a backlog of casework and submissions for initial public offerings.

  • November 13, 2025

    Coinbase Counsel's DExit Letter Triggers Class Atty Pushback

    A Grant & Eisenhofer PA principal has challenged Coinbase Global Inc.'s continued limiting of public disclosures in a Delaware Court of Chancery suit alleging insider trading ahead of a stock plunge, after the company told the U.S. Securities and Exchange Commission Wednesday it will recharter in Texas.

  • November 13, 2025

    Bank Regulators Preview Timelines For Planned Fintech Rules

    Federal banking regulators say they're focused on executing their fintech rulemaking agendas in the coming months, with the Federal Deposit Insurance Corp. planning to circulate a stablecoin licensing regime by year's end and the Federal Reserve intending to provide fintechs easier access to its payment rails by the close of next year.

  • November 13, 2025

    2nd Circ. Revives Bright Health Investors' Pandemic Suit

    The Second Circuit on Thursday revived a suit alleging healthcare management services company Bright Health Group Inc. misled investors in its 2021 initial public offering about its anticipated costs during the COVID-19 pandemic, finding that the complaint plausibly alleged the defendants hid preexisting operational issues and risks.

  • November 13, 2025

    OCC Must Deny Sony Bank's Crypto Charter Bid, Critics Say

    Banking and community interest groups are urging the Office of the Comptroller of the Currency to reject Sony Bank's bid to charter a cryptocurrency-focused offshoot, warning it could exceed the agency's authority and risk skirting longstanding banking system safeguards.

  • November 13, 2025

    Davis Polk, Skadden Guide Grayscale IPO Filing

    Digital currency investment platform Grayscale Investments Inc. indicated plans for an initial public offering in a November securities filing prepared by Davis Polk & Wardwell LLP and Skadden Arps Slate Meagher & Flom LLP.

  • November 13, 2025

    Fed Frees SocGen, ICBC From 2018 Enforcement Orders

    The Federal Reserve said Thursday it has lifted a pair of 2018 consent orders against Société Générale SA and Industrial and Commercial Bank of China, ending long-running enforcement actions tied to alleged sanctions violations at the former and alleged anti-money-laundering deficiencies at the latter.

  • November 13, 2025

    Fenwick, WilmerHale Steer $285M Mersana Take-Private Deal

    Pediatric cancer-focused biopharmaceutical company Day One Biopharmaceuticals, led by Fenwick & West LLP, announced plans Thursday to acquire clinical-stage biopharmaceutical company Mersana Therapeutics Inc., advised by WilmerHale, in a take-private deal worth up to $285 million.

  • November 13, 2025

    Silvergate Bank Parent Gets OK For Ch. 11 Plan

    A Delaware bankruptcy judge on Thursday approved the Chapter 11 plan of the parent company of failed cryptocurrency-focused Silvergate Bank after hearing the company had resolved all objections to the proposal.

  • November 13, 2025

    MVP: Dechert's John Timperio

    Dechert LLP's John Timperio set a new record for the biggest collateralized loan obligation transaction ever with Golub Capital Partners' $2.3 billion CLO, and he guided Paris-based Rivage as it established its first U.S. operation, earning him a spot as one of the 2025 Law360 Complex Financial Instruments MVPs.

  • November 13, 2025

    C3 AI Considers Sale After CEO Departs, Plus More Rumors

    Artificial intelligence software provider C3 AI is exploring a sale after its founder and CEO stepped down earlier this year, British telecommunications provider SCG weighs a potential sale at a $1.07 billion valuation, and U.K.-based fintech company Iwoca is in talks about a sale that could value it at $1.34 billion.

  • November 13, 2025

    French Biopharma Details Increased $150M Share Sale

    Inventiva said Thursday that it has increased a share sale to approximately $150 million, as the French biopharmaceutical company revealed more information about the offering it wants to use to fund clinical trials and as working capital.

  • November 13, 2025

    Mining Co. Digs At Friend Turned Foe In $7.38B Citgo Battle

    A Bermuda mining company has sued a Canadian counterpart in the Delaware Chancery Court for allegedly using insider information from a confidential bidding alliance to switch sides in a court-run auction of Citgo Petroleum's parent company.

  • November 13, 2025

    Efforts To DQ Judge In Venezuelan Debt Case Come Up Short

    A federal judge on Thursday denied efforts to unseat him and the court-appointed special master overseeing the sale of Citgo's parent company to satisfy billions of dollars in Venezuelan debt, ruling that the motions are both procedurally defective and unmeritorious.

  • November 12, 2025

    Aerospace Co. Faces Investor Suit Over Rocket Failures

    Space and defense technology company Firefly Aerospace Inc. has been hit with a proposed shareholder class action accusing it of filing false and misleading documents ahead of its recent initial public offering that overhyped the potential of a rocket launch, which the company later revealed had failed testing.

  • November 12, 2025

    Feds Eye New Trial For MIT Brothers' $25M Crypto Theft Case

    Federal prosecutors want to retry two MIT-educated brothers accused of a $25 million cryptocurrency heist next year, after a New York court declared a mistrial last week following the jury's failure to reach a unanimous verdict.

  • November 12, 2025

    SEC Atty Broke Shutdown Protocol With Subpoena, Suit Says

    The U.S. Securities and Exchange Commission is facing a lawsuit in Texas federal court claiming it violated its own shutdown protocols when its Fort Worth office sought the financial records of a woman whose husband is currently under SEC investigation.

  • November 12, 2025

    SEC's Atkins Previews Crypto 'Taxonomy' Plans, Exemptions

    U.S. Securities and Exchange Commission Chairman Paul Atkins on Wednesday pledged to "draw clear lines" about which crypto transactions the SEC doesn't regulate, but said that coming rules and exemptions for digital assets are "not a promise of lax enforcement at the SEC."

  • November 12, 2025

    Marathon Prevails In Texas Business Court Gas Contract Trial

    A Texas Business Court judge found in favor of Marathon Oil Co. on Tuesday after a bench trial earlier this month, ruling that Winter Storm Uri absolved Marathon from having to buy natural gas to make up for delivery shortfalls to a commodity trading company.

  • November 12, 2025

    Nasdaq Could Open Texas' 2nd Stock Exchange Next Year

    Nasdaq on Wednesday announced plans to launch a Texas-based exchange in the hopes of joining a startup group that has already received permission to allow companies to publicly list in the Lone Star State next year. 

Expert Analysis

  • Why Appellees Should Write Their Answering Brief First

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    Though counterintuitive, appellees should consider writing their answering briefs before they’ve ever seen their opponent’s opening brief, as this practice confers numerous benefits related to argument structure, time pressures and workflow, says Joshua Sohn at the U.S. Department of Justice.

  • Questions To Ask Your Client When Fraud Taints Financing

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    As elevated risk levels yield fertile conditions for fraud in financing transactions, asking corporate clients the right investigative questions can help create an action plan, bring parties together and help clients successfully survive any scam, says Mark Kirsons at Morgan Lewis.

  • Series

    Mindfulness Meditation Makes Me A Better Lawyer

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    Mindful meditation enables me to drop the ego, and in helping me to keep sight of what’s important, permits me to learn from the other side and become a reliable counselor, says Roy Wyman at Bass Berry.

  • AI Litigation Tools Can Enhance Case Assessment, Strategy

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    Civil litigators can use artificial intelligence tools to strengthen case assessment and aid in early strategy development, as long as they address the risks and ethical considerations that accompany these uses, say attorneys at Barnes & Thornburg.

  • Post-Genius Landscape Reveals Technical Stablecoin Hurdles

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    The Genius Act's implementation has revealed challenges for mass stablecoin adoption, but there are several factors that stablecoin issuers can use to differentiate themselves and secure market share, including interest rate, liquidity, and safety and security, say attorneys at Olshan Frome.

  • Attys Beware: Generative AI Can Also Hallucinate Metadata

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    In addition to the well-known problem of AI-generated hallucinations in legal documents, AI tools can also hallucinate metadata — threatening the integrity of discovery, the reliability of evidence and the ability to definitively identify the provenance of electronic documents, say attorneys at Law & Forensics.

  • How 9th Circ. Ruling Deepens SEC Disgorgement Circuit Split

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    The Ninth Circuit's recent decision in U.S. Securities and Exchange Commission v. Sripetch creates opposing disgorgement rules in the two circuits where the SEC brings a large proportion of enforcement actions — the Second and Ninth — and increases the likelihood that the U.S. Supreme Court will step in, say attorneys at Cahill Gordon.

  • SEC Crypto Custody Relief Offers Clarity For Funds

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    A recent U.S. Securities and Exchange Commission staff letter supplies a workable path for registered investment advisers and funds seeking to offer crypto custody services by using state trust companies, and may portend additional useful guidance regarding crypto custody, say attorneys at Morgan Lewis.

  • When Atty Ethics Violations Give Rise To Causes Of Action

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    Though the Model Rules of Professional Conduct make clear that a violation of the rules does not automatically create a cause of action, attorneys should beware of a few scenarios in which they could face lawsuits for ethical lapses, says Brian Faughnan at Faughnan Law.

  • A Shift To Semiannual Reporting May Reshape Litigation Risk

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    While the U.S. Securities and Exchange Commission's proposed change from quarterly to semiannual reporting may reduce the volume of formal filings, it wouldn't reduce litigation risk, instead shifting it into less predictable terrain — where informal disclosures, timing ambiguities and broader materiality debates will dominate, says Pavithra Kumar at Advanced Analytical Consulting Group.

  • CFIUS Trends May Shift Under 'America First' Policy

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    The arrival of the Committee on Foreign Investment in the United States' latest annual report suggests that the Trump administration's "America First" policy will have a measurable effect on foreign investment, including improved trendlines for investments from allied sources and increasingly negative trendlines for those from foreign adversary sources, say attorneys at Debevoise.

  • How Novel Del. Ruling Tackled Crypto Jurisdiction

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    As courts grapple with cryptocurrency's borderless nature, the Delaware Court of Chancery's recent decision in Timoria v. Anis highlights the delicate balance between territorial jurisdiction and due process, and reinforces the need for practitioners to develop sophisticated, multijurisdictional approaches to digital asset disputes, say attorneys at Holland & Knight.

  • What CFTC Push For Tokenized Collateral Means For Crypto

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    The Commodity Futures Trading Commission's recent request for comment on the use of tokenized products as collateral in derivatives markets signals that it is expanding the scope and form of eligible collateral, and could broaden the potential use cases for crypto-assets held in tokenized form, say attorneys at Dechert.

  • Series

    Practicing Stoicism Makes Me A Better Lawyer

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    Practicing Stoicism, by applying reason to ignore my emotions and govern my decisions, has enabled me to approach challenging situations in a structured way, ultimately providing advice singularly devoted to a client's interest, says John Baranello at Moses & Singer.

  • Series

    The Biz Court Digest: Texas, One Year In

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    A year after the Texas Business Court's first decision, it's clear that Texas didn't just copy Delaware and instead built something uniquely its own, combining specialization with constitutional accountability and creating a model that looks forward without losing touch with the state's democratic and statutory roots, says Chris Bankler at Jackson Walker.

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