Try our Advanced Search for more refined results
Capital Markets
-
July 16, 2024
Drugmaker BioLineRx Beats Investor Suit Over Cash Shortfall
Israeli biotech company BioLineRx has, for now, beaten a proposed class action over claims that it misled investors on its capital shortfall, which caused a major decline in its share price, with a New Jersey federal judge saying the plaintiffs have failed to plead any actionable misleading or false statements.
-
July 16, 2024
Platinum Co-Founder Dodges Prison For Bond Fraud Rap
Platinum Partners co-founder Mark Nordlicht on Tuesday was spared prison time for his five-year-old conviction over a purported scheme to defraud bondholders of a Texas oil and gas company, as a New York federal judge doubted that "such a weird case" would serve any deterrent value.
-
July 16, 2024
Coinbase Scales Back Its SEC Request For Gensler Docs
Crypto exchange Coinbase said it will narrow its request for the communications of U.S. Securities and Exchange Commission Chair Gary Gensler after the New York federal judge overseeing its enforcement suit warned that seeking private emails would be a "tough road to hoe."
-
July 16, 2024
The 2024 Diversity Snapshot: What You Need To Know
Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.
-
July 16, 2024
These Firms Have The Most Diverse Equity Partnerships
Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.
-
July 16, 2024
Latham-Led Warehouse Giant Launches Potential $3.6B IPO
Cold-storage warehouse giant Lineage Inc. on Tuesday set a price range on an estimated $3.6 billion initial public offering, represented by Latham & Watkins LLP and underwriters counsel Goodwin Procter LLP, bolstering the near-term IPO pipeline.
-
July 15, 2024
Gemini Says CFTC Can't Have It Both Ways On Materiality
Crypto exchange Gemini Trust Co. told a New York federal judge late Monday that the U.S. Commodity Futures Trading Commission's arguments that Gemini misled it on aspects of a proposed bitcoin futures contract "directly contradict" the agency's defense of sanctions for its own alleged misstatements in another enforcement action.
-
July 15, 2024
Walgreens Investor Sues Over Challenged Pharmacy Division
Walgreens Boots Alliance Inc. was hit with a proposed shareholder class action alleging it inflated share prices by concealing the lack of viability of its pharmacy division, which it eventually disclosed needed a major overhaul to become sustainable.
-
July 15, 2024
Crypto Promoter Says SEC's Ripple Appeal Helps His Request
A crypto influencer fighting a U.S. Securities and Exchange Commission lawsuit has told a Texas federal judge that his bid for an immediate appeal of a ruling against him is supported by the SEC's own attempt to appeal an adverse ruling in its case against blockchain firm Ripple Labs.
-
July 15, 2024
CD&R Tells Del. Court Covetrus Sale 'Fully Informed'
An attorney for private equity firm Clayton Dubilier & Rice LLC told a Delaware vice chancellor Monday that stockholders of animal health company Covetrus Inc. were fully informed when they approved a $21-per-share takeover by CD&R and TPG Capital in 2022, disputing allegations of knowing standstill agreement violations and disclosure failures.
-
July 15, 2024
SEC Pans Database Privacy Challenge As Too Little, Too Late
The U.S. Securities and Exchange Commission is looking to rid itself of a proposed class action targeting a market surveillance tool known as the consolidated audit trail, telling a Texas federal judge that shutting down a critical market stability tool 12 years after its creation would harm the public without providing any benefit to suing investors.
-
July 15, 2024
Logan Paul 'Willfully Ignored' Partners' Fraud, Investor Says
A Texas buyer of influencer Logan Paul's never-launched CryptoZoo project told a Texas federal judge the YouTuber shouldn't win default judgments against the business partners he says duped him as he continues to face a proposed class's claims that he defrauded investors alongside them.
-
July 15, 2024
Binance 'Knowingly' Assisted Hamas, Oct. 7 Survivors Say
Survivors of Hamas' Oct. 7 attack in Israel have told a New York federal judge that Binance should be held accountable for allegedly funding terrorist activity since they say the cryptocurrency exchange was created as an "illicit financial tool" that operated without adequate compliance controls to knowingly provide criminal customers with access to funds.
-
July 15, 2024
Fed's Powell Says He's Not Going Anywhere As Chairman
Federal Reserve Chair Jerome Powell said Monday that he will serve out the remaining two years of his appointment leading the central bank, signaling his intent to stick around despite questions about his future in a second potential Trump administration.
-
July 15, 2024
CVS Hit With Investor Suit Over Benefits Unit's Losses
CVS has been hit with a proposed class action in New York federal court over a series of stock price declines it suffered following announcements about losses the healthcare retailer was experiencing in its Health Care Benefits segment.
-
July 15, 2024
Chancery Finds Truth Social SPAC Should Get Docs
The sponsor of the special purpose acquisition company that took former President Donald Trump's Truth Social public must turn over most of the documents the SPAC sought as part of the parties' Delaware litigation, a Chancery Court judge ruled Monday, teeing the case up for trial on July 29.
-
July 15, 2024
Towers Watson Asks 4th Circ. To Find Merger Dispute Covered
Towers Watson's insurers must pay out $54 million in remaining directors and officers coverage to help fund a $75 million settlement in a shareholder suit over the company's merger with Willis, Towers Watson told the Fourth Circuit, saying a so-called bump-up exclusion does not apply.
-
July 15, 2024
Insurance Groups Want DOL Investment Advice Regs Blocked
Several insurance groups urged a Texas federal court to halt the U.S. Department of Labor's new regulations that broaden who qualifies as a fiduciary under federal benefits law, saying the agency's new rule is no different from one the Fifth Circuit invalidated in 2018.
-
July 15, 2024
FTX Proposes $4B Settlement Of CFTC's Massive $52B Claim
FTX Trading Ltd. asked a Delaware bankruptcy judge to sign off on a settlement with the U.S. Commodity Futures Trading Commission, saying the agreement to allow the agency a $4 billion claim in its bankruptcy would end a fraud civil enforcement action and address the "most significant single creditor" in the crypto currency exchange's Chapter 11 case.
-
July 15, 2024
Catching Up With Delaware's Chancery Court
Chancery Court news was full of fees and settlements last week, with three multimillion-dollar deals getting a court OK, and a daylong discussion over a potentially multibillion-dollar fee award for attorneys who got Tesla CEO Elon Musk's astronomical pay package thrown out. The court also banged the gavel in cases involving e-payment venture SwervePay and managed care company Centene Corp., and heard arguments from software company SAP SE and biotech Renmatix Inc.
-
July 15, 2024
Health Services Spinoff Leads 3 IPO Launches Totaling $1.1B
Occupational health services provider Concentra Group Holdings Parent Inc. unveiled a price range Monday for an estimated $551 million initial public offering, leading a trio of companies that launched plans for new listings that would exceed $1.1 billion combined.
-
July 12, 2024
Law360 Names 2024's Top Attorneys Under 40
Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.
-
July 12, 2024
Loper Bright Is Shaking Up Dozens Of Regulatory Fights
In the two weeks since the U.S. Supreme Court overturned Chevron deference, the landmark decision has emerged as a live issue in dozens of administrative challenges, with federal courts already pausing agency regulations expanding LGBTQ+ rights in education and healthcare and with a wave of parties seeking to use the new decision to win their cases.
-
July 12, 2024
Judge Swipes Left On Match Group Investors' Suit
A Delaware federal judge has dismissed, for now, investor allegations that dating website operator Match Group Inc. misled the market about an integration process.
-
July 12, 2024
5 Firms Steer Chinese EV Co.'s $1B SPAC Merger
Chinese electric vehicle maker Huture Ltd. plans to go public at an estimated $1 billion value through a merger with special purpose acquisition company Aquaron Acquisition Corp., both parties announced Friday, in a deal steered by five law firms.
Expert Analysis
-
What FTX Case Taught Us About Digital Asset Recoverability
FTX's Chapter 11 plan has drawn lots of attention, but the focus should be on the anticipated outcome for investors, which counters several myths about digital currencies, innovation and recoverability, says Kyla Curley at StoneTurn.
-
How To Survive Shareholder Activism
In an era where shareholder activism is on the rise, companies must identify weaknesses, clearly communicate strategies, update board composition and engage with shareholders consistently in order to avoid disruptive shareholder activism and safeguard the interests of both the company and its shareholders, say J.T. Ho at Orrick and Greg Taxin at Spotlight Advisors.
-
'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed
A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.
-
Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
-
Big Business May Come To Rue The Post-Administrative State
Many have framed the U.S. Supreme Court’s recent decisions overturning Chevron deference and extending the window to challenge regulations as big wins for big business, but sand in the gears of agency rulemaking may be a double-edged sword, creating prolonged uncertainty that impedes businesses’ ability to plan for the future, says Todd Baker at Columbia University.
-
Will Texas Stock Exchange Provide Regulatory Haven?
While the newly proposed Texas Stock Exchange may represent a market reaction to increasingly complex regulations, those looking to list on a national securities exchange should consider that their choice of an exchange may not relieve them of some of the most burdensome public company requirements, say Elizabeth McNichol and Ryan Lilley at Katten.
-
Equity Rights Offering Considerations As Maturity Cliff Looms
Current market uncertainties make an equity rights offering — involving affiliate backstop investors — a cost-effective, capital-raising transaction for distressed companies looking to manage their leverage ahead of the impending maturity of a substantial number of COVID-era debt issuances, say attorneys at Winston & Strawn.
-
A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
-
Opinion
Discount Window Reform Needed To Curb Modern Bank Runs
We learned during the spring 2023 failures that bank runs can happen extraordinarily fast in light of modern technology, especially when banks have a greater concentration of large deposits, demonstrating that the antiquated but effective discount window needs to be overhauled before the next crisis, says Cris Cicala at Stinson.
-
Series
After Chevron: Creating New Hurdles For ESG Rulemaking
The U.S. Supreme Court's Loper Bright decision, limiting court deference to agencies' statutory interpretations, could have significant impacts on the future of ESG regulation, creating new hurdles for agency rulemaking around these emerging issues, and calling into question current administrative actions, says Leah Malone at Simpson Thacher.
-
Opinion
States Should Loosen Law Firm Ownership Restrictions
Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.
-
Best Text Practices In Light Of Terraform's $4.5B Fraud Deal
Text messages were extremely important in a recent civil trial against Terraform Labs, leading to a $4.5 billion settlement, so litigants in securities fraud cases need to have robust mobile data policies that address the content and retention of messages, and the obligations of employees to allow for collection, say Josh Sohn and Alicia Clausen at Crowell & Moring.
-
Series
Solving Puzzles Makes Me A Better Lawyer
Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.
-
Dapper Settlement Offers Rules Of The Road For NFT Issuers
The terms of a $4 million settlement in a class action alleging that Dapper Labs sold its NBA Top Shot Moments as unregistered securities may be a model for third parties that wish to avoid securities liability in connection with offering digital asset non-fungible token collectibles, say attorneys at K&L Gates.
-
Texas Ethics Opinion Flags Hazards Of Unauthorized Practice
The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.