Capital Markets

  • May 01, 2024

    JPMorgan Says It's Paying $100M More In Trade Penalties

    JPMorgan Chase & Co. said Wednesday that it expects to pay $100 million to yet another U.S. regulator to resolve alleged deficiencies with its program for monitoring employee and client trading activities, a fine that comes on the heels of an additional $350 million in penalties stemming from its trade surveillance.

  • May 01, 2024

    Split 2nd Circ. Backs Arbitration Denial In ERISA Suit

    A divided Second Circuit panel ruled Wednesday that a group of financial services companies can't compel individual arbitration of a proposed class action accusing them of overcharging an employee stock ownership plan, saying that doing so would prevent a plan participant from seeking planwide remedies authorized by federal benefits law.

  • May 01, 2024

    Del. Justices Reverse Toss Of $7.3B Inovalon Deal Challenge

    Delaware's top court on Wednesday reversed a Chancery Court dismissal of stockholder challenges to the $7.3 billion go-private sale of Inovalon Holdings Inc. to Nordic Capital, saying that the lower court wrongly concluded that minority investors were adequately informed about the deal and special committee conflicts of interest.

  • May 01, 2024

    Trump's Truth Social Stake Expands To Nearly 65%

    Former President Donald Trump's stake in his social media platform rose to 65%, according to a securities filing, valuing his stake at more than $5 billion based on current trading, though Trump is barred from selling shares for several months.

  • May 01, 2024

    AI Is Top Of Mind For Companies — And Securities Regulators

    As references to artificial intelligence in securities filings soar, attorneys say companies must ground their disclosures in fact and be upfront about risks posed by AI in order to avoid the wrath of regulators, who promise to crack down on misleading claims.

  • May 01, 2024

    PG&E, KKR In Exclusive Talks For Partial Sale Of Power Biz

    Pacific Gas & Electric Corp. is in exclusive talks with private equity giant KKR to sell a minority interest in its subsidiary, Pacific Generation LLC, to KKR's infrastructure strategy in a deal that would reduce customer rates by more than $100 million over the next two decades.

  • April 30, 2024

    2nd Circ. Revives Commerzbank RMBS Suit Against US Bank

    The Second Circuit on Tuesday revived part of a nearly decade-old Commerzbank AG lawsuit brought against U.S. Bank NA over its role as a trustee on a slew of pre-2008 crisis RMBS trusts, sending some of the German bank's previously dismissed claims back to district court for a "closer inspection."

  • April 30, 2024

    SEC Says Penny Stock Firm Failed To Register As A Dealer

    The U.S. Securities and Exchange Commission has sued a New Jersey company for allegedly dealing in penny stock without registering as a securities dealer, echoing claims the agency made against a different lender, which the Eleventh Circuit largely affirmed in February.

  • April 30, 2024

    'Bitcoin Jesus' Dodged Nearly $50M In Taxes, Feds Say

    The U.S. has charged an early bitcoin investor dubbed "Bitcoin Jesus" over allegations that he dodged approximately $48 million in taxes by filing false tax returns and concealing how much of the cryptocurrency he owned, according to an announcement from the U.S. Department of Justice on Tuesday.

  • April 30, 2024

    Skadden, Latham Lead Travel Firm Viking's Upsized $1.5B IPO

    Private equity-backed cruise operator Viking Holdings Ltd. on Tuesday priced an upsized $1.5 billion initial public offering within its price range, represented by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Latham & Watkins LLP, marking the largest IPO of 2024. 

  • April 30, 2024

    5th Circ. Questions Texas' Standing In SEC Proxy Rule Battle

    The Fifth Circuit appeared skeptical Tuesday of a Texas-led challenge to a U.S. Securities and Exchange Commission regulation that will require fund managers to make it easier for investors to identify ESG issues on corporate ballots, with the judges wondering whether the Lone Star State and others had standing to bring the lawsuit.

  • April 30, 2024

    Debt Box Wants Attorney Fees Paid If SEC Brings New Action

    Crypto project Debt Box has asked a Utah federal judge to impose multiple "guardrails" if the court allows the U.S. Securities and Exchange Commission to refile its troubled registration suit against the firm, including payment of all attorney fees arising from the original, compromised suit.

  • April 30, 2024

    Genius Sports Investors Urge Chancery To Save Merger Suit

    The special-purpose acquisition company that took Genius Sports Ltd. public in 2021 didn't fully disclose how a newly inked agreement with the National Football League would affect the sports data company, investors told Delaware's Court of Chancery on Tuesday, urging a judge to preserve their case against the SPAC and its directors.

  • April 30, 2024

    Chancery Partially Vacates Trump Media Suit Fast-Track Order

    A Delaware vice chancellor pulled the plug Tuesday on a bid to fast-track part of a suit brought by two co-founders of Trump Media & Technology Group against former President Donald Trump's Truth Social media company before it went public.

  • April 30, 2024

    Crypto Exec Denies $2B Laundering Charges, Is Out On Bail

    The CEO of crypto mixer Samourai Wallet has pled not guilty to charges he helped facilitate over $2 billion in illegal transactions and was released on $1 million bail after surrendering to federal authorities voluntarily.

  • April 30, 2024

    Truth Social Investor Had No Criminal Intent, NY Jury Told

    Counsel for a Florida investment pro accused of insider trading on advance knowledge of a deal to take public former President Donald Trump's media concern Truth Social argued to a Manhattan federal jury Tuesday that he acted in good faith.

  • April 30, 2024

    NY Bank Investors Spar Over Bid To Merge, Pause Suits

    New York Community Bancorp Inc. shareholders traded barbs in filings this week over whether a New York federal judge should allow an individual shareholder to intervene in the larger group's attempt to consolidate and stay their derivative shareholder suits against the bank.

  • April 30, 2024

    Dechert Adds Wilson Sonsini, Ex-SEC Crypto Expert In DC

    A cryptocurrency and financial technology attorney who spent nearly six years with the U.S. Securities and Exchange Commission has left his most-recent role as a partner with Wilson Sonsini Goodrich & Rosati PC to join Dechert LLP in Washington, D.C., the firm announced Tuesday.

  • April 30, 2024

    Software Firm Silvaco Launches Plans For $108M IPO

    Designer of automation software and semiconductor intellectual property solutions Silvaco Group on Tuesday unveiled plans to raise $108 million in its initial public offering, which at midpoint would give the Santa Clara, California-headquartered company a fully diluted market value of $550 million.

  • April 30, 2024

    Binance Founder Gets 4 Mos. For Lax Money Laundering Policy

    Binance founder Changpeng Zhao was sentenced Tuesday to four months in prison for his failure to implement an effective anti-money laundering program at the global crypto exchange, as a federal judge rejected a more severe punishment sought by the government citing concerns about sentencing disparity.

  • April 29, 2024

    Robinhood's Top Lawyer Saw Pay Slashed By 29% In 2023

    Dan Gallagher, the chief legal officer for online securities trading company Robinhood, earned $10.7 million in 2023, a nearly 30% decrease from the $15.1 million he came away with in 2022, according to a filing with the U.S. Securities and Exchange Commission.

  • April 29, 2024

    Pomerantz, Glancy Prongay Spar To Lead LexUrban Fraud Suit

    Glancy Prongay & Murray LLP and Pomerantz LLP are vying to represent a proposed class of investors in a New York federal suit against real estate company LuxUrban Hotels, with Glancy Prongay accusing Pomerantz of "cobbl[ing] together" a would-be co-counsel group and Pomerantz defending its proposed lead plaintiffs as a proper "cohesive duo."

  • April 29, 2024

    Terraform Says SEC's $5.4B Sanction Bid Fails Under Morrison

    Crypto firm Terraform Labs and its founder Do Kwon struck back at the U.S. Securities and Exchange Commission's $5.4 billion sanctions request following its trial win, filing dual briefs Monday that argued the regulator has only shown that "a small number" of allegedly illegal token sales took place in the U.S. and under its jurisdiction as outlined in the U.S. Supreme Court's Morrison decision.

  • April 29, 2024

    TD Ameritrade Fined $600K Over Flawed Automated Approvals

    TD Ameritrade Inc. has agreed to pay a $600,000 fine to the Financial Industry Regulatory Authority, which alleged the online stock trading platform relied on an inadequate automated approval system for options trading that allowed risk-prone customers to be approved for certain trades despite red flags.

  • April 29, 2024

    Maker Of 'Let's Go Brandon' Coin Seeks Lawsuit Transfer

    An attorney behind the digital asset inspired by the "Let's Go Brandon" meme urged a Florida federal judge to hand off to another court a securities fraud lawsuit against him, arguing Monday that the remaining parties in the suit have no connection to the district where the action was filed.

Expert Analysis

  • ESG Concerns Can No Longer Be Ignored In 2024

    Author Photo

    While the long wait for the U.S. Securities and Exchange Commission's ESG rule continues, government attention to regulations, increased litigation efforts and shareholder resolutions seeking transparency highlight the importance of placing an emphasis on ESG considerations, say attorneys at Wollmuth Maher.

  • Opinion

    Conflicts Abound When Activist Short-Sellers Publish Reports

    Author Photo

    The self-serving relationship between activist short-sellers and plaintiff-side litigators is conflict-ridden and hinders the fact finder's impartiality when a short report forms the basis for lead plaintiffs' allegations, say Nessim Mezrahi and Stephen Sigrist at SAR.

  • 5 Litigation Funding Trends To Note In 2024

    Author Photo

    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • 5 Securities Litigation Issues To Watch In 2024

    Author Photo

    There is yet another exciting year ahead for securities litigation, starting with the U.S. Supreme Court hearing argument next week in a case presenting a key securities class action question that has eluded review for the last eight years, say attorneys at Willkie.

  • A Look At Consumer Reporting In 2023, And What's To Come

    Author Photo

    The legal landscape of consumer reporting is evolving as courts, federal regulators and state legislatures continue to weigh in — and while last year may have seen a slight downtick in the overall volume of Fair Credit Reporting Act litigation, 2024 is set to be a watershed year for this area of the law, say attorneys at Troutman Pepper.

  • Securing Financial Transparency In Chapter 11 Reporting

    Author Photo

    As we enter the new year, restructuring professionals would be wise to review Chapter 11 public reporting requirements to navigate what debtors may do to try to minimize public reporting, and what creditors can do to get the public reporting they deserve by striking a balance between financial transparency requirements and tactical moves, say Thomas Moers Mayer and Nancy Bello at Kramer Levin.

  • 4 Legal Ethics Considerations For The New Year

    Author Photo

    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

  • SEC Case May Expand Scope Of Insider Trading Liability

    Author Photo

    The U.S. Securities and Exchange Commission's first-of-its-kind enforcement action against an individual in a case involving "shadow trading" demarcates an expansion of insider trading liability to circumstances in which there is a market connection between the source of information and the issuer of the securities traded, say attorneys at Steptoe.

  • Securities Question Stands After Contradicting Crypto Rulings

    Author Photo

    The debate about the regulation of crypto-assets came to a head in 2023 when two New York federal judges came to opposite conclusions about whether crypto-assets were securities by using the Howey test, highlighting the uncertainty facing the crypto industry as it seeks to resolve definitional questions, say attorneys at Ballard Spahr.

  • What The Law Firm Of The Future Will Look Like

    Author Photo

    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • The Year Ahead In Foreign Investment And National Security

    Author Photo

    In 2024, expect the Committee on Foreign Investment in the United States, already at the forefront of addressing national security threats, to increase monitoring and enforcement related to outbound investment, focus on supply chain resilience in nondefense sectors, and heighten oversight of agricultural transactions, say attorneys at Holland & Knight.

  • 4 PR Pointers When Your Case Is In The News

    Author Photo

    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • Compliance Risk After SEC Warning Against 'AI Washing'

    Author Photo

    The U.S. Securities and Exchange Commission has begun looking into the way public companies disclose how they use artificial intelligence to investors and it is likely to become an enforcement priority, meaning companies and their compliance programs should take steps now to avoid regulatory sanctions and shareholder lawsuits, say attorneys at Bracewell.

  • Sale-Leasebacks May Provide A Safe Financing Alternative

    Author Photo

    Amid rising interest rates and unpredictable market conditions, sale-leasebacks can be a useful investment option for both buyers and sellers, though their potential drawbacks demand careful consideration, says Chanel Di Blasi at Crosbie Gliner.

  • 5 Recent Developments Family Offices Are Watching In 2024

    Author Photo

    Although family offices have long been exempt from many of the more onerous regulations and reporting requirements governing U.S. investment advisers and asset managers, recent amendments to federal rules will have an impact on how family offices invest and operate in 2024, say attorneys at Morgan Lewis.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Capital Markets archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!