Capital Markets

  • November 14, 2024

    Boeing Could Sell Navigation Unit For $6B, And More Rumors

    Boeing is mulling a sale of its Jeppesen navigation unit at potential $6 billion price tag, Pfizer may be seeking billions for its hospital drug unit, and a U.S. gas station and convenience store business could be sold at a $1.5 billion value. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • November 14, 2024

    'We'll Leave It To Others': SEC's Gensler Hints At Exit

    U.S. Securities and Exchange Commission Chair Gary Gensler gave a lengthy speech Thursday about his legacy and what remains to be done on regulations related to investors' climate, artificial intelligence and crypto concerns.

  • November 14, 2024

    DLA Piper Int'l Arbitration Co-Chair Swaps Paris For NY

    DLA Piper said Wednesday that its Paris-based international arbitration practice co-chair is crossing the Atlantic to lead the team from New York, a move he says "will help us build on the very strong base we already have in place there."

  • November 14, 2024

    Greenberg Traurig Adds Procopio Corporate Ace In San Diego

    Greenberg Traurig LLP has added a San Diego corporate partner who previously led the corporate and transactional practice at Procopio Cory Hargreaves & Savitch LLP.

  • November 13, 2024

    Republic Bank's 'Dysfunction' Enabled Its Failure, FDIC Says

    The former Republic First Bank failed because of its inability to hold certain debt securities, its insufficient liquidity and an ineffective board and management team, according to a post-mortem review issued Wednesday by the Federal Deposit Insurance Corp.'s watchdog.

  • November 13, 2024

    Feds Seek FTX Assets Used For Alleged China Bribes

    U.S. prosecutors have asked a New York federal judge to help secure millions of dollars worth of digital assets held at cryptocurrency exchange Binance, alleging the tokens are tied to what they described as bribes that former FTX CEO Sam Bankman-Fried paid to Chinese law enforcement officials.

  • November 13, 2024

    Swedish Fintech Klarna Confidentially Files US IPO Plans

    Klarna Group PLC, a Stockholm-based financial technology startup, announced Wednesday it has confidentially submitted its plans for an initial public offering to the U.S. Securities and Exchange Commission, paving the way for a long-awaited listing.

  • November 13, 2024

    FTX Prosecutors Tout Tech Chief's 'Outstanding Cooperation'

    Manhattan federal prosecutors urged a lenient sentence for former FTX technology chief Zixiao "Gary" Wang, telling the court on Wednesday that his "outstanding cooperation" was instrumental in securing the lightning-fast indictment and ultimate conviction of founder Sam Bankman-Fried for an $11 billion fraud that sank the crypto exchange.

  • November 13, 2024

    Caitlyn Jenner's Crypto Venture Hit With Investor Suit

    Buyers of Olympic gold-medalist Caitlyn Jenner's cryptocurrency token slapped the celebrity with a proposed securities class action in California federal court Wednesday, alleging she failed to register the offering of her $JENNER token and "fraudulently solicited financially unsophisticated investors" to purchase the asset.

  • November 13, 2024

    Judge To Confirm Ambri Ch. 11 Wind-Down Plan

    A Delaware bankruptcy judge Wednesday agreed to approve the Chapter 11 plan of battery company Ambri Inc., which will sell its assets to its lenders and wind down.

  • November 13, 2024

    Justices Puzzled By Nvidia's Position In Investor Case

    Some U.S. Supreme Court justices on Wednesday seemed to regret the decision to hear a dispute between chipmaker Nvidia Corp. and its investors, wondering whether a disagreement over what the company knew about its sales to crypto miners has any bearing on other securities class action lawsuits.

  • November 13, 2024

    SEC's Uyeda Says Limits On Private Funds Need Review

    Smaller private and venture capital funds could benefit from less-stringent registration requirements, a Republican member of the U.S. Securities and Exchange Commission told an advisory panel Wednesday, saying the time is ripe to review whether existing thresholds still make sense.

  • November 13, 2024

    Cadwalader Brings New Partner To Corp. Team From Kirkland

    Cadwalader Wickersham & Taft LLP announced Tuesday that it had hired an adviser to companies and private equity funds from Kirkland & Ellis LLP, touting her experience in complex business transactions.

  • November 12, 2024

    Ex-FDIC Head Urges Banks To 'Push Back' Against Examiners

    A former top Trump banking regulator on Tuesday called for bank executives to show "backbone" and push back when they are challenged with bad exam findings from their regulators, urging resistance as an antidote to perceived excesses in bank oversight.

  • November 12, 2024

    FTX Targets Scaramucci, PACs, Law Firm In Wave Of Suits

    Bankrupt cryptocurrency exchange FTX filed roughly 30 suits in a bid to recoup millions of dollars donated to political and charitable causes, losses caused by alleged market manipulation, and funds spent on business partnerships, including with Skybridge Capital's Anthony Scaramucci and a boutique Florida law firm.

  • November 12, 2024

    Celsius' Mashinsky Must Face Full Indictment, Judge Says

    Ex-Celsius Network CEO Alex Mashinsky must face claims that he committed commodities and securities fraud and manipulated his now-bankrupt business's proprietary token after a New York federal judge declined to trim the indictment against him.

  • November 12, 2024

    'I Had A Dream': NJ Ponzi Schemer Gets 12 Years

    A New Jersey federal judge on Tuesday sentenced the operator of a defunct real estate investment fund to 12 years in prison, the maximum term under his plea deal for a $658 million Ponzi scheme, after considering his emotional plea for leniency that drew upon his admiration for the Rev. Dr. Martin Luther King Jr.

  • November 12, 2024

    Businessman Blames Dentons For Failed $54M Currency Swap

    A Venezuelan businessman involved in a $54 million bolivar-to-dollars currency swap told a Miami jury on Tuesday that a former Dentons US LLP attorney told him several times that he needed to deposit more bolivars to meet a threshold minimum in order to receive U.S. dollars, but those promises never materialized.

  • November 12, 2024

    Fed Bans Ex-Bank Leaders Over Alleged COVID Relief Fraud

    The Federal Reserve Board of Governors announced Tuesday that it has prohibited two former top brass with Nano Banc from future participation in the banking industry, alleging they fraudulently obtained loans and grants through the federal CARES Act.

  • November 12, 2024

    3 Firms Guide Rare Canadian IPO Eyed By Groupe Dynamite

    Canadian women's clothing retailer Groupe Dynamite Inc. has launched plans for an estimated C$300 million ($215 million) initial public offering, marking a rare Canadian listing under guidance from three law firms.

  • November 12, 2024

    Huawei Urges Judge To Toss US IP Theft, Fraud Charges

    China's Huawei Technologies and its affiliates have asked a Brooklyn federal judge to dismiss the majority of a criminal indictment, slamming allegations that it tried to steal intellectual property from U.S. rivals and deceived banks and the U.S. government about its business dealings with sanctioned countries.

  • November 12, 2024

    Elanco Pays $15M SEC Fine To Settle Sales Incentive Claims

    Elanco Animal Health Inc. has agreed to pay a $15 million fine to resolve U.S. Securities and Exchange Commission allegations that it deceptively juiced revenues with distributor sales incentives between 2019 and 2020, the regulator announced Tuesday.

  • November 12, 2024

    Weedmaps Execs Named In Derivative Action Over SEC Fine

    Current and former executives and directors of Weedmaps' parent company face shareholder derivative claims following an investor class action and a regulator's fine over the digital cannabis marketplace's alleged use of "willfully inflated" user metrics.

  • November 12, 2024

    Tempur Sealy Merger 'Surprisingly Bold,' Competitor Testifies

    The CEO of a Utah-based mattress company told a Houston federal judge Tuesday that Tempur Sealy's proposed remedies under its $4 billion planned Mattress Firm purchase were "surprisingly bold" as the Federal Trade Commission began its case in opposition of the merger.

  • November 12, 2024

    Peru Agrees To Pay Hedge Fund $40M To Settle Bond Dispute

    A D.C. federal judge held Tuesday that the Republic of Peru must pay Gramercy Funds Management LLC $40 million, following the parties' joint motion last week saying they have settled their dispute over enforcement of a $100 million arbitral award.

Expert Analysis

  • CFTC Anti-Fraud Blitz Is A Warning To Carbon Credit Sellers

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    With its recent enforcement actions against a carbon offset project developer and its senior executives for reporting false information about the energy savings of the company's projects, the Commodity Futures Trading Commission is staking out its position as a primary regulator in the voluntary carbon credit market, say attorneys at Morgan Lewis.

  • Unpacking State AG Approaches To Digital Asset Enforcement

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    Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

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    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • Peeling Back The Layers Of SEC's Equity Trading Reforms

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    The U.S. Securities and Exchange Commission's recently adopted amendments lowering the tick sizes for stock trading and reducing access fee caps will benefit investors and necessitate broad systems changes — if they can first survive judicial challenges, say attorneys at Sidley.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Series

    Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • Opinion

    FDIC's Foray Into Index Fund Rules Risks Regulatory Chaos

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    A proposed Federal Deposit Insurance Corp. rule concerning control over passive index fund investments in banks is outside the agency's remit, clashes with an existing Federal Reserve process and would inhibit competition in the index fund sector, says J.W. Verret at George Mason University.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

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    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

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    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • Perspectives

    The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

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    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • With Esmark Case, SEC Returns Focus To Tender Offer Rules

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    The U.S. Securities and Exchange Commission's recent enforcement action against Esmark in connection with its failed bid to acquire U.S. Steel indicates the SEC's renewed attention under Rule 14e‑8 of the Exchange Act on offerors' financial resources as a measure of the veracity of their tender offer communications, say attorneys at MoFo.

  • What FDIC Expansion Of Change In Bank Control Could Mean

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    A recent Federal Deposit Insurance Corp. proposal pertaining to the Change in Bank Control Act has the potential to create uncertainty around investments by mutual fund complexes in banking organizations, which represent a stable source of capital for the banking industry, say attorneys at Sullivan & Cromwell.

  • Can SEC's Consolidated Audit Trail Survive Post-Chevron?

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    The U.S. Securities and Exchange Commission is currently in a showdown at the Eleventh Circuit over its authority to maintain a national market system and require that the industry spend billions to maintain its consolidated audit trail, a case that is further complicated by the Loper Bright decision, says Daniel Hawke at Arnold & Porter.

  • What's Inside Feds' Latest Bank Merger Review Proposals

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    Recent bank merger proposals from a trio of federal agencies highlight the need for banks looking to grow through acquisition to consider several key issues much earlier in the planning process than has historically been necessary, say attorneys at Simpson Thacher.

  • State Of The States' AI Legal Ethics Landscape

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    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

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