An Aurelius Capital Management unit has asked that it be allowed to continue trading claims in the Nine West bankruptcy case, despite the fact that the hedge fund is serving on the Committee of Unsecured Creditors.
AARP and the attorneys general of California, New York and Oregon urged the full Fifth Circuit on Thursday to overturn a panel decision that invalidated the U.S. Department of Labor’s 2016 fiduciary rule, saying the rule is necessary to protect the retirement savings of millions of workers.
Former HSBC foreign currency exchange executive Mark Johnson was sentenced to two years in prison on Thursday and immediately taken into custody following his conviction for defrauding Cairn Energy PLC by front-running a $3.5 billion currency swap in order to make millions of dollars for the bank at the expense of the Scottish oil and gas developer.
Barclays PLC asked the Second Circuit on Wednesday to uphold a lower court’s dismissal of a long-running securities class action alleging the bank misled investors before a $2.5 billion notes offering in 2008, saying the decision correctly found the banking giant did not knowingly hide material information from investors.
Seeking to reverse a decline in initial public offerings, Wall Street trade group the Securities Industry and Financial Markets Association and several partners published a slew of reform recommendations Thursday aimed at making public markets more attractive to companies.
A handful of nonprofits and labor unions have hit Puerto Rico’s embattled federal oversight board with a lawsuit that seeks to disband it, calling the board a “reckless, dictatorial and racist” entity that’s unconstitutional and riddled with conflicts of interest.
French insurance and financial giant AXA SA unveiled plans Thursday to raise roughly $3.5 billion with the initial public offering of U.S. unit AXA Equitable Holdings Inc., setting the stage for the largest American IPO in years.
For the second time in eight days, a Florida state court has ruled that Halifax Health lacks authority to build a hospital outside of a special taxing district's geographical bounds, granting a judgment Wednesday to a district resident who challenged a partially completed project in the city of Deltona.
To help spur initial public offerings, the U.S. Securities and Exchange Commission is considering giving all companies access to “testing the waters” benefits, which give certain issuers more leeway to discuss potential IPOs with investors, an agency official told lawmakers Thursday.
A New York magistrate judge Wednesday dropped investment firm Roth Capital Partners LLC from a Lichtenstein-based institutional investor’s suit against a Colorado renewable energy company, trimming claims that the company and Roth breached an investment agreement.
The U.K.’s state-backed terrorism reinsurer is exploring the possibility of issuing insurance-linked securities, a multibillion-dollar industry that could help shift the risk of attacks onto global capital markets.
U.S. Securities and Exchange Commissioner Robert Jackson decried Wednesday initial public offering fees as effectively a “middle-market tax” that dissuades more small to midsize companies from going public, and called for more robust disclosures explaining the cost of IPOs.
Goodwin Procter LLP and Cooley LLP advised on a private $850 million senior notes offering for Australian software company Atlassian Corp. Plc that is expected to generate nearly $841.3 million in proceeds for working capital and potential acquisitions, the company said Wednesday.
Three-wheeled carmaker Elio Motors Inc. on Wednesday scrapped its plans for a $100 million initial public offering, one day after the company said it would ride the cryptocurrency route and pursue a coin offering to fund production of its yet-to-be-made vehicle.
More than two dozen current HSBC employees have urged a Brooklyn federal judge to go easy in sentencing their former colleague who was convicted of a foreign currency exchange fraud, a somewhat unusual situation since HSBC itself settled criminal claims over the scheme with the U.S. Department of Justice.
A federal jury in Delaware took up criminal charges Wednesday against four Wilmington Trust Corp. executives accused of conspiring to hide hundreds of millions of dollars in bad loans, after a prosecutor said in closing that the case focused on false statements and disclosures.
Venture-backed electronic signature company DocuSign Inc. on Wednesday increased the target range of its initial public offering to raise up to $592 million, marking the second technology startup this week to beef up its IPO forecast just before pricing.
A New Haven federal jury on Wednesday acquitted a former UBS trader accused of scheming to manipulate the precious metals futures market with “spoofing,” a trading tactic that involves the use of allegedly deceptive bids or offers to feign the appearance of supply or demand.
The trial of a former UBS AG trader accused of scheming to manipulate the precious metals futures market with a trading tactic known as “spoofing” headed to a New Haven federal jury Tuesday after prosecutors wrapped up their case by emphasizing the testimony, trading data and other evidence they’ve presented over the past week.
An investigator for the U.K. Financial Conduct Authority testified in a marathon hearing in Manhattan federal court Tuesday that his boss at the financial regulator seems to have made a misrepresentation in the case of two former Deutsche Bank traders accused of rigging the London Interbank Offered Rate.
A number of class actions have been filed against initial coin offering founders for securities fraud, which means courts will soon begin to grapple with applying the federal securities laws to a new and potentially groundbreaking fundraising mechanism, say Michael Canty and Ross Kamhi of Labaton Sucharow LLP.
When the solicitor general agreed with Raymond Lucia's argument that the U.S. Securities and Exchange Commission itself must appoint administrative law judges to conform with the appointments clause, the result in Lucia v. SEC seemed foreseeable. But oral arguments this week suggest that the U.S. Supreme Court justices may be more divided than expected, says professor Harold Krent of IIT Chicago-Kent College of Law.
There is speculation that smart contracts may enable technology to replace the practice of law. However, disputes will almost certainly arise as a result of the innate characteristics of smart contracts, requiring seasoned legal representation, say Collin Starkweather, a principal at Charles River Associates, and Izzy Nelken, a member of the Chicago Board Options Exchange's product development committee.
The widespread adoption and increasing regulation of virtual currencies and related technologies will give rise to the need for individuals with expertise in traditional fields, such as financial services and tax, say Collin Starkweather, a principal at Charles River Associates, and Izzy Nelken, a member of the Chicago Board Options Exchange's product development committee.
The U.S. Supreme Court is set to consider in Raymond J. Lucia v. SEC whether the U.S. Securities and Exchange Commission’s previous hiring of administrative law judges violated the Constitution. Let's look at two issues on the horizon if the answer is yes, says Daniel Walfish of Walfish & Fissell LLP.
Under certain facts, some foreign investors can invest in a real estate investment trust on a completely tax-free basis, both with respect to distributions received from the REIT and with respect to the disposition of the REIT stock, say Galia Antebi and Neha Rastogi of Ruchelman PLLC.
Despite the powerful incentives to engage in external whistleblowing after Digital Realty, companies should know that their compliance programs can contribute in meaningful ways to whether employees decide to report possible misconduct internally or to the U.S. Securities and Exchange Commission, say attorneys with Paul Hastings LLP.
How can we improve meetings in the legal industry, which tends to evolve with the speed of a tranquilized water buffalo mired in quicksand? Breaking it down to three phases can yield significant benefits, says Nicholas Cheolas of Zelle LLP.
One way law firms differentiate themselves from the competition to attract and retain top talent is through their real estate and workplace strategies. Taking a lead from the hospitality industry can help create a more inviting, welcoming and collaborative workspace environment, says Bella Schiro of Jones Lang LaSalle Inc.
In his first year on the U.S. Supreme Court, Justice Neil Gorsuch has proven to be a narrow-minded elitist who consistently votes in favor of corporations and the powerful, acting to roll back protections for workers, consumers, LGBTQ individuals and other marginalized communities, says Elliot Mincberg of People for the American Way.