Capital Markets

  • March 24, 2017

    Coal Cos. Are Forging A Return To The IPO Pipeline

    Certain coal issuers are returning to the initial public offering landscape after a long absence, a trend experts say reflects more favorable economic prospects and expectations of a friendlier regulatory environment under the Trump administration.

  • March 24, 2017

    Tech Startup Alteryx Raises $126M In IPO

    Venture-backed analytics provider Alteryx Inc. announced that it has raised $126 million after pricing an initial public offering on Thursday at $14 per share, making it the latest technology startup to join an increasingly receptive IPO pipeline.

  • March 24, 2017

    PE-Backed Silver Run Raises $900M In IPO For Energy Buy

    An energy-focused blank check company backed by Riverstone Holdings LLC recently announced that it has raised $900 million in an initial public offering, just months after Riverstone used funds from a similar blank check IPO to take control of an oil and gas drilling business.

  • March 24, 2017

    Piwowar Applauds Market Study, Plans Exchange-Fees Pilot

    Acting U.S. Securities and Exchange Commission Chair Michael Piwowar on Thursday praised plans to launch an academic study of the U.S. securities markets as “long overdue” and revealed he has directed agency staff to propose their own plan to test the impact of altering the fees that exchanges charge for executing trades.

  • March 24, 2017

    Fed, FDIC Seek Improvements In Northern Trust’s Living Will

    Federal banking regulators on Friday said that plans submitted by 16 U.S. regional banks outlining how they could be taken apart through bankruptcy were largely credible, but said that Northern Trust Corp. did not sufficiently address questions about how its international units could be taken apart.

  • March 23, 2017

    5 Takeaways From Clayton's SEC Confirmation Hearing

    President Donald Trump's nominee to chair the U.S. Securities and Exchange Commission, Sullivan & Cromwell LLP partner Jay Clayton, scored points with Republican lawmakers at his confirmation hearing Thursday by lamenting a recent decline in IPOs, but did little to reassure Democrats about his conflicts of interest and financial industry connections. Here are five key takeaways from Thursday's hearing.

  • March 23, 2017

    Chancery Says Release From Co. In Receivership Binding

    A Delaware Chancery judge ruled Thursday that an indemnification agreement the former president of Southern China Livestock Inc., which was put into receivership after abandoning the U.S. markets, struck was binding and blocks him from breach of fiduciary duty claims from the company’s receiver.

  • March 23, 2017

    CORRECTED: Diabetes Company Valeritas Prices $54M Offering

    Private equity-backed insulin device maker Valeritas Inc. priced a $53.5 million initial public offering Thursday under guidance from Morgan Lewis & Bockius LLP, marking the company’s second attempt at an IPO after pulling earlier plans, but saw shares slump in their debut.

  • March 23, 2017

    Former CFTC General Counsel Joins Skadden In DC

    The former general counsel for the U.S. Commodity Futures Trading Commission has joined Skadden Arps Slate Meagher & Flom LLP’s derivatives group in Washington, D.C., the firm announced on Thursday.

  • March 23, 2017

    Deals Rumor Mill: Credit Suisse, Pret A Manger, Shell

    Credit Suisse may sell more than $3 billion worth of stock in its Swiss business, private equity-backed sandwich chain Pret A Manger is readying for a New York IPO, and Royal Dutch Shell is in discussions to sell its last remaining asset in California.

  • March 23, 2017

    FINRA, DTC Accused Of Sending $8M To Wrong Investors

    A former investor in bankrupt Bind Therapeutics Inc. asked a Delaware federal court on Thursday to halt distributions to the defunct company's shareholders, saying errors by securities clearinghouse the Depository Trust Co. and regulator the Financial Industry Regulatory Authority resulted in the first $8 million payment going to the wrong people.

  • March 23, 2017

    Medical Device Giant Medtronics Sells Bonds Totaling $2B

    Irish medical device giant Medtronic Inc. priced bond offerings totaling $2 billion, in deals involving four firms, according to regulatory filings on Thursday, marking the latest health care related company to tap robust debt markets.

  • March 23, 2017

    Brazilian Watchdog Approves $3.8B Exchange Merger

    São Paulo Stock Exchange operator BM&FBovespa SA said Wednesday its planned merger with Cetip SA Mercados Organizados, in a deal that values Cetip at around 12 billion Brazilian reais ($3.8 billion), was greenlighted by Brazil's antitrust regulator with no additional remedies.

  • March 22, 2017

    Judge Nixes Gov't's 'Rough Justice' In 1MDB Forfeiture Case

    A California federal judge rejected what he called the government's “rough justice” attempt to keep offshore trusts from contesting forfeiture of music rights, real estate and other assets tied to an alleged fraud on Malaysia's sovereign wealth fund, allowing the trustees to file late claims on Wednesday.

  • March 22, 2017

    4 Firms Lead Canadian Biotech Aurinia's $173M Follow-On

    Canadian biotech Aurinia Pharmaceuticals Inc. said Monday it closed a $173 million follow-on offering to help fund its top drug candidate treating lupus, a deal guided by four law firms.

  • March 22, 2017

    SEC Shrinks Settlement Cycle For Securities Trades To 2 Days

    The U.S. Securities and Exchange Commission agreed Wednesday to shorten the settlement cycle for most securities trades from three to two days, calling the expedited timetable an overdue revision that catches up with modern technology and that could potentially be further accelerated.

  • March 22, 2017

    Deals Rumor Mill: Deutsche Boerse, Souq, Generali

    The European Commission will block the proposed $30 billion merger of Deutsche Boerse and the London Stock Exchange, has agreed to buy United Arab Emirates-based online retailer and marketplace, and Italian insurance giant Generali intends to sell its businesses in Colombia, Ecuador and Panama.

  • March 22, 2017

    Bank Deregulation Faces Long Odds, Hensarling Says

    A leading House Republican on Wednesday expressed doubts that his proposed large-scale rewrite of U.S. financial regulations would pass through the Senate, even after it makes it through the lower chamber.

  • March 22, 2017

    Don't Stall CEO-Worker Pay Ratio Rule, Investors Tell SEC

    A group of 100-plus institutional investors sent a letter Wednesday to the U.S. Securities and Exchange Commission urging Acting Chairman Michael Piwowar to not delay implementation of a Dodd-Frank CEO-to-employee pay ratio disclosure mandate, saying any wait imposes “significant costs” on investors.

  • March 22, 2017

    SEC Says Couple Blew Chance To Settle EB-5 Fraud Suit

    The U.S. Securities and Exchange Commission has urged the Central District of California to rule against a husband and wife facing allegations that they misappropriated the bulk of $26.9 million raised in an EB-5 immigrant investor program, as the couple purportedly have not followed through on their promises as part of a possible settlement.

Expert Analysis

  • Google, NASA, Planes And A Stronger Legal Team

    Nicholas Cheolas

    Why did minor mechanical issues bring down two airplanes, while a catastrophic engine explosion did not bring down a third? The answers lie, in part, in research conducted by NASA in the wake of those crashes and, more recently, by Google. And those answers can help organizations build better teams to meet today’s legal industry challenges, says Nicholas Cheolas of Zelle LLP.

  • 10 Tips For Better Legal Negotiations

    Marc J. Siegel

    Like everything else, the art of negotiation starts by having a conversation. It’s about being respectful, finding common ground, knowing what you want and, most importantly, listening. A conversation between two lawyers can be complicated at best, but by employing a few techniques and tactics, it doesn’t have to be that way, says Marc Siegel of Siegel & Dolan Ltd.

  • Basel III And The Move Toward Uncommitted Lines Of Credit

    Mark C. Dempsey

    The Basel III regulations have impacted the types of subscription credit facilities lenders are putting in place, and there are a few key components of the U.S. Basel III framework that can be linked to the recent increase in the use of uncommitted lines of credit, say attorneys with Mayer Brown LLP.

  • Monthly Column

    Gray Matters: Decision Error

    Gray Matters

    Lawyers make hundreds of decisions during the course of advising a client, consummating a transaction or litigating a case. In this new column, dispute resolution experts Bob Creo and Selina Shultz explore the theory, science and practical aspects of how decisions are made in the legal community.

  • Law Schools And Law Firms: Seeking Common Ground

    Randy Gordon

    What we don’t know is whether the teaching and practice of law are undergoing massive structural changes or we’re still digging out from the worst economic collapse since the Depression. But what we do know is that the missions of the most forward-looking law schools and law firms are converging in ways that were unimaginable 10 years ago, says Randy Gordon, a partner at Gardere Wynne Sewell LLP and executive professor of law at Te... (continued)

  • A Look At Market Trends In Reverse Mergers

    Excerpt from Lexis Practice Advisor
    Paul Rodel

    Early indicators point to a rebound year for the initial public offering market in 2017, which could also mean a rebound in the reverse merger market. In addition, the new administration and Congress are likely to take an active role in shaping the regulatory environment in areas potentially relevant to surviving reverse merger companies, say attorneys with Debevoise & Plimpton LLP.

  • Not From Around Here? Trying A Case As An Out-Of-Towner

    William Oxley

    The importance of authenticity is magnified when trying a case outside your home jurisdiction. While using references to local landmarks or history can help make arguments relatable, adopting local expressions or style in an attempt to ingratiate oneself with the judge and jury almost always backfires, say William Oxley and Meghan Rohling Kelly of Dechert LLP.

  • What Should Puerto Rico Offer Its Creditors?

    Richard J. Cooper

    Attorneys with Cleary Gottlieb Steen & Hamilton LLP offer four recommendations to keep in mind when designing the type of instrument that creditors will receive in a restructuring of Puerto Rico’s debt.

  • Considerations For Exhibit Hyperlinks In SEC Filings

    Laura D. Richman

    Companies should begin to prepare for the mechanics of the new hyperlink requirements for U.S. Securities and Exchange Commission filings and to design disclosure controls and procedures so that they will be ready to comply on a timely basis. Some companies may even choose to comply early in order to get corporate governance “credit,” say Laura Richman and Michael Hermsen of Mayer Brown LLP.

  • A Comparison Of Reg CF And Reg A-Plus

    Excerpt from Lexis Practice Advisor
    Amy Wan Headshot.jpg

    Regulation A-Plus is often termed a “mini initial public offering” for good reason. In contrast with Regulation Crowdfunding, which is largely geared toward newer businesses trying to prove a concept or gain early traction, Reg A-Plus is better suited for more established companies that have already proven a concept, says Amy Wan of Trowbridge Sidoti LLP.