Skadden, Morgan Lewis Shape Private Stock Trading JV

Law360 (July 20, 2021, 7:42 PM EDT) -- The Nasdaq and a group of major banks said Tuesday they're creating a platform to trade the stock of private companies in a joint venture guided by Skadden Arps Slate Meagher & Flom LLP and Morgan Lewis & Bockius LLP.

Working with SVB Financial Group, Citi, Goldman Sachs and Morgan Stanley, the Nasdaq Private Market is being spun out to be part of a new, independent company that will be a trading place facilitating private stock transactions for issuers, brokers and shareholders, according to a joint statement.

"The private markets are anything but standard and have become more diverse than ever,"...

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