Medical device company Si-Bone Inc., advised by Cooley LLP, priced a $108 million initial public offering and saw shares rally upon debut on Wednesday amid volatile market conditions during which at least one other company has delayed its IPO and another lowered its price.
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TOP NEWS

Cooley-Led Med Device Co. Prices $108M IPO Amid Volatility

Medical device company Si-Bone Inc., advised by Cooley LLP, priced a $108 million initial public offering and saw shares rally upon debut on Wednesday amid volatile market conditions during which at least one other company has delayed its IPO and another lowered its price. Read full article »

French Renewable Energy Provider Neoen Prices €628M IPO

French renewable energy firm Neoen SA began trading on Paris' Euronext market in a €628 million ($722 million) initial public offering Wednesday, marking the largest offering in more than a year on the Paris exchange and the biggest in the European renewable energy space so far in 2018. Read full article »

2 Ex-Deutsche Traders Convicted Of Libor-Rigging

A Manhattan federal jury on Wednesday convicted two former Deutsche Bank AG traders of rigging the London Interbank Offered Rate to benefit their trading positions, setting the stage for a protracted legal fight over whether or not the trial was tainted by compelled testimony.   Read full article »

Treasury Declines To Name China A Currency Manipulator

The U.S. Department of the Treasury declined to name China as a currency manipulator in its semiannual report Wednesday amid growing trade tensions with Beijing, but nevertheless gave a stern warning about the overall weakness of the Chinese currency renminbi and the lack of transparency in its monetary system. Read full article »

IN-DEPTH

News Analysis

A High Court Milestone Stirs Hope Of Gender Parity

After an emotionally fraught confirmation process with sexual misconduct allegations front and center, a new justice joins the Supreme Court bench and brings four female clerks with him. The hires bring gender parity to the court's clerkship ranks for the first time, but will the shift be long-lasting? (This article is part of a series examining gender gaps at the high court.) Read full article »

POLICY & REGULATION

Sen. Warren Demands Toys R Us Pay Worker Severance

U.S. Sen. Elizabeth Warren is urging five hedge funds who hold Toys R Us debt to answer questions about their role in the liquidation of the toy retailer and contribute to a fund to provide severance pay for the chain's 30,000 former employees. Read full article »

FSOC Pulls SIFI Tag From Prudential, Last Nonbank To Have It

The Financial Stability Oversight Council said Wednesday that it has decided to rescind insurer Prudential Financial Inc.’s designation as a systemically important financial institution, freeing it from enhanced regulatory supervision and leaving no nonbank financial firms classified as “too big to fail.” Read full article »

EQUITY

2 Biotech Cos. Launch IPOs Despite Erratic Market Conditions

Two biotechnology companies on Wednesday set price ranges on initial public offerings that are expected to raise $125 million combined, opting to move forward on IPOs in a stock market that has swung sharply in the past week. Read full article »

Deals Rumor Mill: Uber, Caesars, Vestar

Uber is mulling taking on minority investors in its self-driving car business, Caesars Entertainment Corp. was approached by the owner of the Golden Nugget Casinos regarding a merger, and Vestar Capital Partners is in talks to buy Information Resources Inc. Read full article »

DEBT

Platinum Partners Liquidators Seek Docs From Funds' Ex-Firm

The Cayman Island-based liquidators of a pair of failed Platinum Partners hedge funds have asked a New York bankruptcy court to compel Schulte Roth & Zabel LLP, the funds’ former attorneys, to hand over documents stemming from before the funds went into bankruptcy. Read full article »

EXPERT ANALYSIS

Crypto As Commodity, And The Bankruptcy Implications

With the recent ruling in My Big Coin Pay that bitcoin and other cryptocurrencies are “commodities,” bankruptcy courts will likely have greater discretion regarding how to treat the valuation of cryptocurrencies in a variety of contexts, say Joanne Lee Molinaro and Susan Poll Klaessy of Foley & Lardner LLP. Read full article »

LEGAL INDUSTRY

Feature

The Four Firms That GCs Fear The Most

General counsel are pointing to four law firms they view as the most fearsomely competent litigators and the ones they least wish to see on the other side of the table, a survey released Wednesday revealed. Read full article »

Chief Justice Defends Court's Integrity After Kavanaugh Row

Alluding to the recent political firestorm surrounding Justice Brett Kavanaugh’s monthslong nomination process, Chief Justice John Roberts tried to assure the public that the U.S. Supreme Court would remain an independent and collegial institution. Read full article »

4th Circ., Fla. Court Picks Glide Through Sparse Hearing

President Donald Trump's choices for a Fourth Circuit seat and district court seats in Florida and Alabama cruised through a sparsely attended nominations hearing Wednesday, after Democrats objected to holding the hearing at all. Read full article »

Don McGahn Steps Down As White House Counsel

Don McGahn, who helped shepherd the nominations of two of President Donald Trump's U.S. Supreme Court nominees through Congress has stepped down as White House counsel following the announcement of his replacement, according to media reports Wednesday. Read full article »

ABA Says Attys Must Inform Clients After A Data Breach

The American Bar Association unveiled ethics rules Wednesday that require attorneys to notify current clients in the event of a data breach and to keep clients updated on the findings of any investigation into the breach. Read full article »

The Use Of Third-Party Litigation Financing Is Soaring

A recent survey of in-house and private firm lawyers shows a spike in the use of third-party litigation funding and plenty of organizations forgoing worthy claims in the face of big legal bills, according to a Wednesday report from funder Burford Capital. Read full article »

Baker McKenzie Chooses Florida For New Legal Services Hub

Baker McKenzie plans to launch a global service center in Tampa, Florida, to build on the success of its existing hubs in the Philippines and Northern Ireland, the global law firm said Wednesday. Read full article »

Lieff Cabraser, Others Want $90M In State Farm Judge Case

Lieff Cabraser Heimann & Bernstein LLP, Clifford Law Offices PC and several other firms have asked for $90 million in fees and expenses for their work representing a class of State Farm customers who settled claims the insurance giant rigged an Illinois judicial election for $250 million. Read full article »

Q&A

Law Firm Leaders: Loeb & Loeb's Kenneth Florin

Loeb & Loeb LLP's new chairman, Kenneth R. Florin, recently spoke with Law360 at the firm's Manhattan office to discuss the ways in which Loeb & Loeb and the legal profession at large have evolved and why he thinks some of the most significant changes are still to come. Read full article »

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