Capital Markets

  • 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.

  • November 12, 2024

    Hertz Investors Urge Chancery Not To Toss Stock Warrant Suit

    An attorney for two Hertz Inc. institutional investors told a Delaware judge Monday that the vehicle rental giant relied on an impermissible reinterpretation of a warrant agreement to reject a redemption demand purportedly triggered by the company's post-Chapter 11 recapitalization.

  • November 12, 2024

    Truth Social Sponsor's Shares Mostly Gone, Del. Court Told

    An attorney for the former CEO of a company central to the public stock listing of Donald Trump's social media platform told a Delaware vice chancellor Monday only 45,000 shares remain available from an 8.1 million share founders' stake now at the center of multiple suits in multiple courts.

  • November 12, 2024

    Trump's 'Pro-Business' Agenda Could Be A Boon For M&A

    President-elect Donald Trump's "pro-business" priorities and an anticipated relaxation of antitrust scrutiny are expected to boost mergers and acquisitions activity, but his tariff plan may have mixed results across sectors — and select deals could be subject to his "unpredictability," attorneys told Law360.

  • November 12, 2024

    Indian Food Delivery Giant Swiggy To Debut After $1.3B IPO

    Shares of Indian e-commerce giant Swiggy Ltd. are set to begin trading on Wednesday after the company priced a $1.3 billion initial public offering, marking the latest test of the country's IPO market following a blockbuster listing of Hyundai's Indian unit.

  • November 12, 2024

    FTX Sues Binance, Former CEO Zhao Seeking $1.8B Clawback

    The estate of fallen cryptocurrency exchange FTX has sued Binance and its former CEO Changpeng Zhao to recover $1.76 billion it says the defunct company illegally transferred prior to its collapse two years ago, alleging FTX used customer money to complete a share repurchase that it couldn't otherwise afford.

  • November 12, 2024

    Elliott Reveals $5B Honeywell Holding, Calls For Change

    Elliott Investment Management LP said Tuesday it has amassed a $5 billion stake in Honeywell International Inc. as the firm pushed the industrial conglomerate to separate itself into two independent companies.

  • November 12, 2024

    High Court Turns Away Appeal From 'Insider' Hedge Fund

    The U.S. Supreme Court on Tuesday declined to take up hedge fund Raging Capital Management LLC's petition to review whether its status as a large investor in 1-800-Flowers should leave it vulnerable to a derivative suit claiming it made illegal swing-trades.

  • November 11, 2024

    AI-Focused Semiconductor Maker Puts SPAC Deal On Hold

    Sivers Semiconductors AB said Monday that it has paused the proposed merger of its laser semiconductor subsidiary with special purpose acquisition company byNordic Acquisition Corp., because of the market conditions for small cap companies in the U.S.

  • November 08, 2024

    'Extraordinary Person' Gets 12½ years For Crypto Laundering

    Roman Sterlingov, the Russian and Swedish citizen convicted of money laundering for operating the world's largest cryptocurrency mixing service, was sentenced to 12½ years in prison Friday, even though the D.C. federal judge said it was "painful to see" an "extraordinary person" in such circumstances.

  • November 08, 2024

    Crypto Co. Seeks Freeze Of $4M In Contract Fight

    A group of companies known within the cryptocurrency industry as the Bixin Group has filed for an emergency motion to freeze a bank account of Alopex Advisors LLC holding a $4 million security deposit as it pursues arbitration in Hong Kong against Alopex over an agreement to help Bixin navigate the Icelandic property and energy markets.

  • November 08, 2024

    Meet The Attys Arguing Nvidia Securities Case At High Court

    Two former BigLaw colleagues and a onetime Consumer Financial Protection Bureau litigator are set to appear before the U.S. Supreme Court on Wednesday to argue a closely watched case that could change the pleading standards shareholders have to meet to sue companies like Nvidia Corp.

  • November 08, 2024

    Up Next At High Court: Self-Deportation Deadlines & Murder

    The U.S. Supreme Court will be closed Monday for Veterans Day, but the justices will return to the bench Tuesday to consider whether a 60-day deadline for immigrants to voluntarily leave the country has a grace period and what evidence is needed to allege securities fraud.

  • November 08, 2024

    Invesco To Pay SEC $17.5M Over Misleading ESG Statements

    Invesco Advisers Inc. agreed to pay $17.5 million to settle U.S. Securities and Exchange Commission charges that the investment adviser made misleading statements about the percentage of its assets that incorporated so-called ESG factors into investment decisions.

  • November 08, 2024

    Shaq Reaches Settlement With Astrals NFT Buyers

    The mediator overseeing the dispute between buyers of the Astrals LLC nonfungible token project and basketball Hall of Famer and promoter Shaquille O'Neal told a Florida federal judge that the parties reached a settlement in their most recent session. 

  • November 08, 2024

    French Generative AI Startup Seeks Landmark IPO In Paris

    French artificial intelligence company LightOn launched plans Friday for an estimated €10.4 million ($11.2 million) initial public offering, paving the way for Europe's first listing of a generative AI business that is scheduled to debut later this month.

  • November 08, 2024

    SEC Sues Ex-Fed Examiner For Insider Trading On Bank Stocks

    The U.S. Securities and Exchange Commission filed suit against a former senior banking supervisor with the Richmond Federal Reserve Bank, accusing him of insider trading on stocks of New York Community Bancorp and Capital One Financial Corp.

  • November 08, 2024

    Kustom Entertainment's $222M SPAC Merger Goes Kaput

    Blank-check company Clover Leaf Capital is terminating its planned merger with live entertainment organizer Kustom Entertainment Inc., according to a Friday announcement.

  • November 08, 2024

    Experienced Dealmakers Lead 3 SPACs Raising $365M Total

    Three special purpose acquisition companies began trading Friday after pricing initial public offerings that raised $365 million combined under guidance from four law firms, marking the latest sign that more SPACs, particularly those with prior deals under their belts, are willing to test an improving market.

  • November 08, 2024

    FTX Investment Firm Seeks Return Of $11M In Crypto Assets

    Alameda Research, an investment arm of the now-bankrupt FTX digital asset empire, has filed a lawsuit against cryptocurrency exchange Crypto.com in Delaware bankruptcy court, seeking the return of $11.4 million in assets still held on the platform despite multiple requests from the debtor.

  • November 08, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen collapsed German airline Air Berlin take action against its former auditor KPMG, the associate editor at The Spectator hit with a libel claim by a mosque over the far-right riots that took place in August and British licensing authority the Performing Right Society sue Parklife Manchester and four other festival organizers. Here, Law360 looks at these and other new claims in the U.K.

  • November 07, 2024

    Ex-Celsius CEO OK'd To Seek Testimony From Abroad

    A New York federal judge Thursday gave former Celsius Network CEO Alex Mashinsky the green light to seek deposition testimony from witnesses reading abroad that he claims is crucial to his defense, but declined to narrow the case against the founder of the now-bankrupt cryptocurrency-lending platform. 

  • November 07, 2024

    Super Micro Top Brass Face Suit Over Governance 'Red Flags'

    The top brass of Super Micro Computer Inc. have been hit with a shareholder derivative suit in California federal court alleging they caused the artificial intelligence server manufacturer to make false assurances about the effectiveness of the company's internal controls, the accuracy of its financial statements and other corporate governance red flags.

  • November 07, 2024

    Ill. Judge Anticipates 'Massive' Outcome Investor Restitution

    An Illinois federal judge signaled Thursday that he anticipates three former Outcome Health executives will pay a "massive" amount in restitution to investors such as Goldman Sachs and CapitalG that were persuaded to give Outcome money in a fraudulent effort to grow the company.

  • November 07, 2024

    Vanguard Investors Ink $40M Settlement In Tax Liability Suit

    Vanguard investors have asked a Pennsylvania federal judge to give the first green light to a $40 million settlement reached with the firm over it allegedly breaching its fiduciary duty when it triggered a sell-off of assets that left investors with massive tax bills.

Expert Analysis

  • 2nd Circ. Case Reinforces Need For Advance Notice Bylaws

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    The Second Circuit's recent decision in Nano Dimension v. Murchinson illustrates that Section 13(d) of the Exchange Act is a square peg for a round hole, and that advance notice bylaws are far better at protecting against undisclosed coordination among activist shareholders, say attorneys at Morgan Lewis.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

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    As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.

  • SolarWinds Ruling Offers Cyber Incident Response Takeaways

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    The New York federal court's dismissal of all charges related to the 2019 Sunburst cyberattack is a devastating blow to the U.S. Securities and Exchange Commission's cybersecurity case against SolarWinds, but the well-reasoned opinion provides valuable lessons that may improve companies' defensive posture in the wake of a major cybersecurity incident, say attorneys at Troutman Pepper.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • Evolving Regulatory Oversight For AI And Asset Management

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    Attorneys at K&L Gates discuss the evolving regulatory and legislative landscape for artificial intelligence in the asset management industry, as the U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission and Congress consider how to address potential investor protection and systemic risks associated with AI.

  • Series

    A Day In The In-House Life: Block CLO Talks Problem-Solving

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    Amid the busy summer months, Block Inc. Chief Legal Officer Chrysty Esperanza chronicles a typical Wednesday where she conquered everything from unexpected fintech regulatory issues and team building to Bay Area commutes and school drop-off.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • Jarkesy's Impact On SEC Enforcement Will Be Modest

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    Though the U.S. Supreme Court’s recent U.S. Securities and Exchange Commission v. Jarkesy decision found that fraud defendants have a constitutional right to a jury trial, the ruling will have muted impact on the agency’s enforcement because it’s already bringing most of its cases in federal court, say Jeremiah Williams and Alyssa Fixsen at Ropes & Gray.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Opinion

    After Jarkesy, IRS Must Course-Correct On Captive Insurance

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    The U.S. Supreme Court’s recent Securities and Exchange Commission v. Jarkesy decision has profound implications for other agencies, including the IRS, which must stop ignoring due process and curtailing congressional intent in its policing of captive insurance arrangements, says Peter Dawson at the 831(b) Institute.

  • Dissecting Treasury's Call For Input On AI In Financial Sector

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    The U.S. Department of the Treasury's request for comments on the potential benefits and challenges AI may pose to the financial services sector, which asks how stakeholders are addressing and mitigating increased fraud risks, reflects the federal government's continued interest in AI's effects across the economy, say attorneys at Hogan Lovells.

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • 3 Areas Of Enforcement Risk Facing The EV Industry

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    Companies in the EV manufacturing ecosystem are experiencing a boom in business, but with this boom comes increased regulatory and enforcement risks, from the corruption issues that have historically pervaded the extractive sector to newer risks posed by artificial intelligence, say attorneys at MoFo.

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