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Capital Markets
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September 29, 2025
Catching Up With Delaware's Chancery Court
A Delaware vice chancellor expressed disappointment and concern over what she says is a "breakdown" in "civility and respect" that has emerged in recent Delaware corporate litigation. A $30 million settlement was approved in the five-year running Match.com reverse spinoff suit, and the top brass of Estée Lauder were hit with a derivative suit for allegedly covering up the company's reliance on prohibited, duty-free "gray market" sales of its products in China.
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September 29, 2025
NY's Top Financial Services Regulator Is Stepping Down
The head of the New York State Department of Financial Services is stepping down next month and will be replaced on an interim basis by the chief of its fintech-focused innovation division, New York Gov. Kathy Hochul said Monday.
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September 29, 2025
4 Firms Advise On Genmab's $8B Merus Acquisition Plan
Genmab AS announced Monday it has agreed to purchase Dutch clinical-stage biotechnology firm Merus NV in an all-cash transaction valued at about $8 billion, with Allen Overy Shearman Sterling and Kromann Reumert advising Genmab and Latham & Watkins LLP and NautaDutilh representing Merus.
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September 29, 2025
Duane Morris, DLA Piper Steer $1.2B Hadron SPAC Deal
Duane Morris LLP-advised nuclear energy company Hadron Energy on Monday announced plans to go public through a merger with special purpose acquisition company GigCapital7 Corp., led by DLA Piper, in a deal that values the company at $1.2 billion.
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September 29, 2025
AstraZeneca Revamps NYSE Listing To Woo US Investors
Pharmaceutical heavyweight AstraZeneca PLC said on Monday that it is overhauling its New York listing in an effort to attract U.S. investors but will retain its primary listing and headquarters in the U.K.
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September 26, 2025
Trump Says Cook Can't Rely On 'Mantra' Of Fed Independence
The Trump administration Friday fired back at Federal Reserve Gov. Lisa Cook's argument that the Fed's independence is at stake if the president is allowed to fire her, arguing before the U.S. Supreme Court that Cook invokes "the mantra of Federal Reserve independence" to impose removal protections Congress never enacted.
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September 26, 2025
Atty Facing Crypto Fraud Charge Can't Block Evidence At Trial
A suspended Pennsylvania attorney's requests to exclude certain evidence from his upcoming October cryptocurrency fraud trial were largely shot down by a judge who found, among other things, that the requests should have taken the form of earlier motions to strike certain allegations from the government's indictment.
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September 26, 2025
Zillow Loses 9th Circ. Bid To Undo Investor Class Cert.
The Ninth Circuit on Friday affirmed a lower court's decision to grant class certification in an investor suit claiming Zillow Group Inc. oversold a now-shuttered home-buying program, rejecting the real estate listing site's arguments that the lower court did not correctly apply the U.S. Supreme Court's Goldman decision to the class certification bid.
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September 26, 2025
Wu-Tang Album May Be Trade Secret In Shkreli Suit, Judge Says
A New York federal judge has found that a one-of-a-kind Wu-Tang Clan album could be considered a trade secret in a novel decision that made significant trims to a cryptocurrency project's lawsuit against the album's former owner Martin Shkreli, but the judge kept in play claims that he misappropriated the project's trade secrets.
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September 26, 2025
SEC To Weigh Waivers Alongside Enforcement Settlements
U.S. Securities and Exchange Commission Chair Paul Atkins announced Friday the agency will return to a practice of allowing firms to request waivers from follow-on consequences of enforcement actions while they pursue settlement discussions to resolve their case.
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September 26, 2025
Swizz Beatz Can't Avoid $7.3M 1MDB Fraud Case
A New York federal judge on Friday denied hip-hop artist Swizz Beatz's bid to dismiss a lawsuit that alleges he received millions of dollars in the infamous 1Malaysia Development Berhad fraud scandal, saying liquidators for two alleged shell companies sufficiently alleged fraudulent transfers of funds among other claims.
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September 26, 2025
SEC Eyes Tweaking RMBS Rules To Revive Dormant Market
The U.S. Securities and Exchange Commission put out a call for public comments on improving its rules over residential mortgage-backed securities, noting that there have been no such public offerings in more than a decade and questioning whether the agency's requirements may be partially to blame.
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September 26, 2025
Illumina And Grail Nix Investor Suit Over Failed Deal, For Now
Illumina and Grail on Friday defeated a proposed class action alleging they lied to investors who bought artificially inflated Illumina stock whose prices plunged following several purported disclosures, after a California federal judge said the investors hadn't adequately pled which disclosures corrected any alleged misstatements that caused their losses.
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September 26, 2025
Kalshi, Robinhood Fight Tribes' Bid To Block Sports Contracts
Trading platforms Kalshi and Robinhood urged a California federal judge to reject an injunction bid lodged by Native American tribes in California that would prevent the companies from offering sports betting contracts on tribal lands, arguing their federally authorized event contract businesses would suffer "substantial and irreparable harm."
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September 26, 2025
Trump Media Seeks End To Merger Fee Fight After Arbitration
In the wake of a favorable arbitration award, counsel for Donald Trump's social media company told a New York state judge Friday that it would seek to bar further litigation in a fee dispute with a company that helped launch Truth Social in an $875 million merger.
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September 26, 2025
Freshfields, Simpson Thacher Guide Oracle's $18B Bond Offer
Software giant Oracle Corp. has priced an $18 billion investment-grade bond offering, a move that comes as the company has ramped up spending to manage increasing demand for artificial intelligence.
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September 26, 2025
'American Exceptionalism' SPAC Leads 2 IPOs Totaling $550M
Two special purpose acquisition companies made their public debuts Friday after pricing initial public offerings at a combined $550 million, with plans to merge with companies in the artificial intelligence, digital assets, fintech, defense and decentralized finance sectors, among others.
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September 26, 2025
Operator Of NBA's Suns Says Doc Suit Is For Buyout Leverage
Phoenix Suns franchise operator Suns Legacy Holdings LLC has pushed back in Delaware Chancery Court against two minority owners seeking access to company records, responding that the demands are aimed at pressuring a higher-priced buyout from the NBA team's majority owner, Mat Ishbia.
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September 26, 2025
Calif. Fights Biz Groups' Bid To Halt Climate Disclosure Rules
California asked the Ninth Circuit to reject business groups' effort to halt two new state climate regulations requiring large companies to publicly disclose their greenhouse gas emissions and climate-related financial risks.
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September 26, 2025
4th Circ. Says NC Man's Abuse Of Trust Justifies Sentence
The Fourth Circuit on Friday affirmed a North Carolina man's 33-month sentence for engineering an investment fraud scheme in which he pretended to be a successful day trader, finding he had abused his position of trust sufficient to support a sentencing enhancement.
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September 26, 2025
Taxation With Representation: De Brauw, Hengeler Mueller
In this week's Taxation With Representation, power grid operator TenneT Holding sells a stake in its German transmission business to institutional investors, Pfizer Inc. acquires biotechnology company Metsera Inc., and Dutch brewer Heineken NV buys most of Costa Rica's FIFCO beverage and retail operations.
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September 25, 2025
Fed's Cook Warns Justices Of Fed Independence 'Death Knell'
Federal Reserve Gov. Lisa Cook urged the U.S. Supreme Court on Thursday to reject President Donald Trump's bid to immediately oust her, warning that allowing her dismissal at this juncture would "sound the death knell" for an independent Fed.
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September 25, 2025
Big Banks Beat Yearslong Libor-Rigging Claims In NY
A New York federal judge Thursday disposed of the remaining claims in long-running multidistrict litigation accusing Bank of America, Merrill Lynch and more than a dozen other large banks of Libor manipulation.
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September 25, 2025
'Blessings Thru Crypto' Couple Must Pay $6.8M In CFTC Case
The U.S. Commodity Futures Trading Commission on Thursday announced that two Tennessee residents have been ordered to pay over $6.8 million to end the commission's claims they defrauded more than 100 people with a multimillion-dollar commodity pool.
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September 25, 2025
Judge Affirms Fla. Studio Didn't Register Movie Securities
A Florida federal judge affirmed a ruling that a movie studio company sold $1.2 million in unregistered securities purportedly using blockchain technology to license motion picture rights, saying he wasn't convinced the company qualified for an exemption.
Expert Analysis
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Series
Brazilian Jiujitsu Makes Me A Better Lawyer
Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.
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Opportunities And Challenges For The Texas Stock Exchange
While the new Texas Stock Exchange could be an interesting alternative to the NYSE and the Nasdaq due to the state’s robust economy and the TXSE’s high-profile leadership and publicity opportunities for listings, its success as a national securities exchange may hinge on resolving questions about its regulatory and cost advantages, say attorneys at Norton Rose.
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Review Risk Is Increasing For Foreign Real Estate Developers
Federal and state government efforts have been expanding oversight of foreign investment in U.S. real estate, necessitating careful assessment of risk and of the benefits of notifying the Committee on Foreign Investment in the United States, say attorneys at Troutman.
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Series
Power To The Paralegals: An Untapped Source For Biz Roles
Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.
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The Legal Risks Of US Restrictions On Investments In China
The second Trump administration has continued to embrace a more restrictive economic policy toward China, including an ongoing review of further restrictions on the flow of U.S. capital to China, so early planning and enhanced diligence can reduce exposure to the challenges resulting from further restrictions, say attorneys at Cleary.
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Using Federal Forum Provisions To Nix State Securities Cases
A California appeals court's recent decision in Bullock v. Rivian clarifies that underwriters may enforce federal forum provisions to escape state court Securities Act claims, marking progress in restoring such lawsuits to federal court and reducing the litigation costs arising from duplicative state court litigation, say attorneys at Paul Weiss.
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Series
Playing Poker Makes Me A Better Lawyer
Poker is a master class in psychology, risk management and strategic thinking, and I’m a better attorney because it has taught me to read my opponents, adapt when I’m dealt the unexpected and stay patient until I'm ready to reveal my hand, says Casey Kingsley at McCreadyLaw.
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Does R-Squared Have A Role In Event Study Analysis?
With 2024 marking the second consecutive year to experience an increase in securities class action filings, determining the reliability of event study models is of utmost importance, but it's time to reconsider the traditional method of doing so, say analysts at StoneTurn Group.
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Opinion
Why It's Time To Retire The Efficient Market Hypothesis
As agentic artificial intelligence systems increasingly affect financial markets, the efficient market hypothesis no longer offers a viable foundation for legal and regulatory engagement, and a new theoretical foundation is needed, say Zachary Brenner, a student at California Western School of Law, and attorney Gary Brenner.
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Key Aspects Of FDIC's Resolution Planning FAQ
The Federal Deposit Insurance Corp.'s recent FAQ on changes to its resolution plan rule ease burdensome requirements for some large institutions and exempt others from discussion of franchise components, making it easier for banks to finalize submissions before the July 1 deadline, say attorneys at Moore & Van Allen.
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Series
Law School's Missed Lessons: Becoming A Firmwide MVP
Though lawyers don't have a neat metric like baseball players for measuring the value they contribute to their organizations, the sooner new attorneys learn skills frequently skipped in law school — like networking, marketing, client development and case evaluation — the more valuable, and less replaceable, they will be, says Alex Barnett at DiCello Levitt.
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What We Lost After SEC Eliminated Regional Director Role
Former U.S. Securities and Exchange Commission Regional Director Marc Fagel discusses the recent wholesale elimination of the regional director position, the responsibilities of the job itself and why discarding this role highlights how the appearance of creating a more efficient agency may limit the SEC's effectiveness.
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4th Circ. Latest To Curb Short-Seller Usage In Securities Suits
The Fourth Circuit's recent decision in Defeo v. IonQ will serve as a powerful and persuasive new precedent for corporate defendants as courts continue curtailing securities class action plaintiffs' use of short-seller reports to plead federal securities law claims, say attorneys at Alston & Bird.
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$38M Law Firm Settlement Highlights 'Unworthy Client' Perils
A recent settlement of claims against law firm Eckert Seamans for allegedly abetting a Ponzi scheme underscores the continuing threat of clients who seek to exploit their lawyers in perpetrating fraud, and the critical importance of preemptive measures to avoid these clients, say attorneys at Lockton Companies.
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Series
Teaching Business Law Makes Me A Better Lawyer
Teaching business law to college students has rekindled my sense of purpose as a lawyer — I am more mindful of the importance of the rule of law and the benefits of our common law system, which helps me maintain a clearer perspective on work, says David Feldman at Feldman Legal Advisors.