The Second Circuit on Tuesday ordered former HSBC foreign currency exchange executive Mark Johnson released from prison on bail pending appeal of his conviction for defrauding Cairn Energy PLC in a $3.5 billion currency deal, hours after he argued that his post-conviction international travel and compliance with court orders shows he’s not a flight risk.
The Benetton family is reportedly eyeing options for its Autogrill restaurant chain, an Abu Dhabi Financial Group unit offered $50 million to buy the management interest of Abraaj’s limited partnerships, and smartphone maker Xiaomi decreased its possible valuation.
Nelson Mullins Riley & Scarborough LLP has nabbed a securities attorney from Baker Donelson Bearman Caldwell & Berkowitz PC with experience leading companies through public offerings and mergers to add to its Nashville, Tennessee, office.
Special purpose acquisition company Thunder Bridge Acquisition Ltd. on Tuesday priced a $225 million initial public offering, raising money to help fund a potential acquisition in the fintech sector, represented by Ellenoff Grossman & Schole LLP.
The owner of cannabis industry magazine High Times said Tuesday it will offer discounted shares to fans ahead of a miniature-style initial public offering that could raise up to $50 million, with the company using the Reg A+ program that imposes lighter regulations than a full-blown IPO.
Debevoise & Plimpton LLP has bolstered its banking group with a regulatory lawyer from Cadwalader Wickersham & Taft LLP who counseled the International Swaps and Derivatives Association when it rolled out compliance tools for companies to use in the wake of Dodd-Frank, the firm has announced.
The U.S. Securities and Exchange Commission accused a Bronxville businessman of manipulating microcap company Plandai Biotechnology Inc.’s stock price in a scheme that netted him more than $11.5 million in illicit stock sale proceeds, according to a lawsuit filed in New York federal court on Monday.
In this monthly series, legal recruiters at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Mia Stutzman, chief financial officer at Holland & Knight LLP.
The jury should take “huge care” when assessing the Serious Fraud Office’s case against five former traders for alleged Euribor rigging, one of the defendants’ lawyers said Tuesday during her closing, arguing the agency has given a “misleading” and unbalanced picture.
Following an American Bar Association pledge, in-house attorneys are taking a harder line in demanding diversity from their outside counsel, and they're seeking to play a larger role in the workings of the law firms they hire.
We asked BigLaw for data on female minority lawyers for the first time this year, and the results show an industry that is failing to attract and retain them. Here’s a look at the challenges facing these attorneys — and how a few firms are defying the norm.
The legal industry is making sluggish gains when it comes to attracting and retaining attorneys of color, but this select group of firms is taking broader strides to diversify at the top.
A California federal judge on Monday laid into the U.S. Department of Justice, suggesting it was wasting resources by requesting a jury trial for a former Barclays PLC trader charged with scheming to defraud Hewlett-Packard Co. in a £6 billion options transaction, after the defendant said he’d prefer a bench trial.
UBS AG units on Monday urged the First Circuit to revive its bid for $20 million in coverage for costs associated with claims that investors lost billions of dollars because UBS manipulated Puerto Rico's municipal debt bond market, arguing that the claims are not sufficiently similar to previously filed actions to trigger a policy exclusion.
The U.S. Supreme Court on Monday denied a last-ditch attempt by creditors of Momentive Performance Materials Inc. to collect on $200 million in fees tied to bonds repaid in bankruptcy, ignoring their argument that allowing the silicone manufacturer to keep the money contradicts “bedrock principles” of bankruptcy law.
Private equity-backed BJ's Wholesale Club Holdings Inc. launched an estimated $600 million initial public offering on Monday, leading a flurry of nine companies that set price ranges on IPOs projected to surpass $1.9 billion in proceeds across several industries.
Proskauer Rose LLP was “hopelessly conflicted” when it advised a holding company in a sale to The Diversified Group Inc. nearly two decades ago that left trustees with a $15 million tax bill, the company said in a recent suit filed in New Jersey.
Baker Botts LLP has added a former Kirkland & Ellis LLP attorney as a capital markets partner with a focus on debt and equity capital markets transactions, corporate governance and compliance in Houston, the firm announced Monday.
Despite decades of industrywide initiatives, movement up the ladder has stagnated for minority lawyers. Here, five industry success stories tell Law360 about the paths they took and what needs to change in BigLaw.
The Commodity Futures Trading Commission said Monday that banking giant JPMorgan Chase has agreed to pay a $65 million civil penalty for allegedly trying to manipulate a global benchmark tied to an array of interest-rate related derivative products such as swaps and options.
Remarks made last week by a U.S. Securities and Exchange Commission official ended long-standing speculation over whether the SEC would assert jurisdiction over ether and bitcoin. The remarks also leave no doubt that the SEC aims to remain active in the digital currency markets, focusing on initial coin offerings, say attorneys with Akin Gump Strauss Hauer & Feld LLP.
In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.
While the U.S. Supreme Court's decision in China Agritech v. Resh is clearly a win for class action defendants, one might fairly question how broad an application the decision itself may have. Its real significance likely lies in what it conveys when viewed together with the court’s other recent decisions restricting both equitable tolling and class actions, say Noelle Reed and Austin Winniford of Skadden Arps Slate Meagher & Flom LLP.
For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.
The legal industry has already begun to feel the impact of anti-bribery and anti-money laundering requirements. When involved with cryptocurrency trading and remittance, law firms face more than the risk of being perceived as organizations that support money laundering practices, says John Reed Stark of John Reed Stark Consulting LLC.
Law firms are increasingly accepting cryptocurrency as payment for services. While this might seem innovative and forward-thinking, ironically it is much more of a throwback, says John Reed Stark of John Reed Stark Consulting LLC.
Upon the occurrence of a cybersecurity incident, a U.S. public company needs to consider whether it has disclosure obligations under a number of overlapping, and potentially conflicting, regulations in multiple jurisdictions. This issue is now at the forefront with the EU General Data Protection Regulation taking effect, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
The criminal prosecution of Andre Flotron was ill-fated and suffered from a series of missteps and miscalculations by the government. However, it is now beyond any legitimate dispute that spoofing occurs, that it is illegal, that prosecutors are willing and able to charge spoofing as a criminal violation, and that it is possible to prove those charges in court, say attorneys with K&L Gates LLP.
The recent acquittal of former UBS trader Andre Flotron in the second spoofing case to go to trial has resulted in comparisons to the spoofing-related conviction of Michael Coscia in 2015. But there are significant differences between the two cases that make such comparisons difficult, say attorneys with K&L Gates LLP.
Do cryptocurrencies that function primarily as a medium of exchange qualify as securities? An answer may be coming sooner than expected — not from the U.S. Securities and Exchange Commission but from a California federal court in Coffey v. Ripple Labs, says Christian Everdell, counsel at Cohen & Gresser LLP and a former assistant U.S. attorney.