Capital Markets

  • October 25, 2024

    Va. Man Gets 7½ Years For $15M Gov't Contract Investor Scam

    A Virginia man was sentenced Friday to over seven years in prison for defrauding dozens of investors out of $15 million by misleading them into believing that his company had millions of dollars in contracts with federal and state government agencies.

  • October 25, 2024

    Glocal, UpHealth May Settle $115M Award Feud

    Indian healthcare services platform Glocal and bankrupt digital health services company UpHealth may be on the verge of resolving their bitter dispute over an ill-fated merger that resulted in a $115 million arbitral award, Glocal has informed an Illinois federal court in a recent request to stay enforcement proceedings. 

  • October 25, 2024

    Hawkins Delafield Career Atty Moves To Nixon Peabody In SF

    Nixon Peabody LLP hired a Hawkins Delafield & Wood LLP partner who has spent his entire legal career with that firm working on public finance tax matters and a range of other tax-related matters, the firm has announced.

  • October 25, 2024

    Pa. House Advances State Bill To Protect Crypto Payments

    Pennsylvania's House of Representatives advanced a bill that would codify businesses' and individuals' ability to accept digital assets as payment, maintain personal control over their digital assets and protect them from additional taxes when paying in crypto.

  • October 25, 2024

    Skadden, Latham Steer Chinese Driverless Tech Startup's IPO

    Autonomous driving technology developer WeRide Inc., represented by Skadden Arps Slate Meagher & Flom LLP and underwriters' counsel Latham & Watkins LLP, on Friday raised $440.5 million combined through a U.S. initial public offering and private placement, saying it will apply fresh capital toward accelerating its global expansion.

  • October 25, 2024

    Judge Chides Bid To Swap Credit Suisse Suit's Lead Plaintiff

    A New York federal judge has rejected an investor's bid to supersede the current lead plaintiff in a securities fraud suit over Credit Suisse's 2023 collapse, saying the petitioning investor had "jumped at the opportunity to sell out his fellow class members" with the replacement motion and criticizing his lawyer too.

  • October 25, 2024

    Goodwin, Cooley Guide Septerna's Upsized $288M IPO

    Clinical-stage drug developer Septerna Inc. is set to debut trading on Friday after pricing an upsized, $288 million initial public offering above its initial range, under guidance from Goodwin Procter LLP and underwriters' counsel Cooley LLP, extending a recent surge in biotechnology IPOs.

  • October 24, 2024

    Truth Social SPAC Founder Wants $1M Award For Payout Suit

    The investment sponsor of the special purpose acquisition company, or SPAC, that took former President Donald Trump's Truth Social media company public has asked for a $1 million fee award for driving the Delaware Chancery Court litigation over the Trump camp's attempts to slash a SPAC deal stock conversion ratio that would have cost some preferred investors millions.

  • October 24, 2024

    FINRA Says Its Regs Apply To Metaverse, Seeks Comments

    Broker-dealers and other firms that are weighing incorporating the metaverse into their business operations should be mindful of how Financial Industry Regulatory Authority rules apply to such activities and reach out with any concerns about regulatory ambiguities, the regulator said Thursday.

  • October 24, 2024

    CAT Is 'Out Of The Bag': Judge Won't Block SEC Data Tool

    The U.S. Securities and Exchange Commission can continue to monitor markets through a surveillance tool known as the consolidated audit trail while it fights a class action lawsuit challenging the tool's existence, with a Texas federal judge saying Thursday that enjoining data collection now would cause chaos and disruption.

  • October 24, 2024

    Feds Ask To Adjourn Trial For Crypto Maven After He Flees

    Prosecutors asked a Brooklyn federal judge to push back the trial date for a German cryptocurrency firm founder who they said tampered with his ankle monitor and absconded while out on bail on investor fraud charges.

  • October 24, 2024

    FINRA Fines Broker Over Securities Lending Algorithm Issues

    Interactive Brokers LLC has agreed to a $475,000 fine from the Financial Industry Regulatory Authority to resolve alleged issues with its securities lending algorithm that resulted in the firm returning borrowed shares to customers when it should not have and for allegedly allowing an unregistered person to work on the algorithm's software development.

  • October 24, 2024

    Robbins Geller Tapped To Lead Lincoln National Investor Suit

    Robbins Geller Rudman & Dowd LLP will lead an investor suit against insurance holding company Lincoln National in Pennsylvania federal court alleging that it misled investors about its failing variable life insurance product.

  • October 24, 2024

    Willkie-Led Ingram Micro Rejoins Markets After $409M IPO

    Private equity-backed technology products distributor Ingram Micro Holding Corp. rallied in debut trading on Thursday, marking the company's return to public markets following a $409 million initial public offering, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Cahill Gordon & Reindel LLP.

  • October 24, 2024

    Southwest Shakes Up Boardroom In Deal With Activist Elliott

    Southwest Airlines on Thursday announced a board shake-up, marking the latest of the airline's moves as part of its "transformational" plan amid pressure from activist investor Elliott Investment Management.

  • October 24, 2024

    ConvergeOne Can't Ax Snubbed Creditors' Ch. 11 Plan Appeal

    A Texas federal judge said he wouldn't toss an appeal by a group of secured creditors who say they were improperly iced out of a new equity offering pool for ConvergeOne, writing that the group's challenge wouldn't unravel the reorganized information technology services company's confirmed Chapter 11 plan or harm third parties.

  • October 24, 2024

    Feds Want Leniency For Key Witness At Bankman-Fried Trial

    Prosecutors asked a Manhattan federal judge for leniency when sentencing a former FTX executive who they said provided "substantial" assistance and testimony in the successful prosecution of the bankrupt cryptocurrency exchange's founder Sam Bankman-Fried.

  • October 24, 2024

    Cigna, Frontier Renew Stalled Merger Bids, Plus Other Rumors

    Cigna Group and Frontier Airlines have both restarted once-stalled bids to acquire smaller rivals, rekindling merger rumors spanning the healthcare and airlines industries, while Sports Illustrated's secondary ticket platform wants to borrow up to $50 million to acquire competitor Anytickets. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • October 24, 2024

    TKO Paying $3.25B For Pro Bull Riding League, Other Assets

    ​​​​​Skadden is advising a special committee of TKO Group Holdings on a deal disclosed Thursday that will see the WWE and UFC parent company purchase a professional bull riding league and two other sports companies from Latham-led Endeavor Group in a $3.25 billion all-stock deal. 

  • October 23, 2024

    Crypto Co. Tron, Founder Can't Shake Investor Suit Over ICO

    Blockchain firm Tron Foundation and its founder Justin Sun on Wednesday partially lost their bid to dismiss a shareholder suit alleging they sold unregistered tokens in a 2017 initial coin offering, with a New York federal judge ruling the claims have enough of a connection to New York to proceed.

  • October 23, 2024

    SEC Says Kraken Can't Get Quick Appeal Of Dismissal Denial

    The U.S. Securities and Exchange Commission said cryptocurrency exchange Kraken shouldn't get a quick review of its failed bid to dismiss the regulator's registration suit because the firm's "reinterpretation" of how securities laws apply to digital assets has been broadly rejected by district courts.

  • October 23, 2024

    Ameriprise, Ex-Worker Duo To Arbitrate Stolen Docs Claims

    Financial services company Ameriprise will arbitrate claims that a father-son pair of ex-employees took confidential records "in the dark of the night" on their way out the door to work for a competitor, the Financial Industry Regulatory Authority has determined.

  • October 23, 2024

    Investor Tied To Texas AG Seeks Investigation Info From Feds

    Real estate investor Nate Paul is looking to get more information from federal prosecutors about their investigation into federal fraud charges he's facing — topics that featured prominently during the failed impeachment of Texas Attorney General Ken Paxton — according to court filings from U.S. Attorney's Office employees.

  • October 23, 2024

    UBS Wins $192M Award Confirmation In Eurobond Dispute

    An Egyptian businessman has lost his years-old bid in New York federal court to vacate an approximately $192 million arbitral award favoring UBS and other lenders in a dispute over a $100 million Eurobond default.

  • October 23, 2024

    SEC's Peirce Calls For Compliance Advisory Committee

    The U.S. Securities and Exchange Commission's Hester Peirce on Wednesday detailed her vision for a compliance advisory committee that would give the agency a way to collect and evaluate concerns about new rules from in-house compliance staff.

Expert Analysis

  • Key Concerns To Confront In FDIC Brokered Deposit Proposal

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    Banks and fintech companies should note several fundamental issues with the Federal Deposit Insurance Corp.'s recent proposal to widen how it classifies brokered deposits, an attempt to limit prudential risk that could expose the industry and underbanked consumers who rely on bank-fintech apps to widespread unintended consequences, say attorneys at Gibson Dunn.

  • 4 Steps To Address New Sanctions Time Bar Extension

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    Recent guidance from the Office of Foreign Assets Control clarifies details of the newly extended statute of limitations for civil and criminal enforcement of U.S. sanctions law, so compliance teams should implement key updates, including to lookback periods and recordkeeping policies, say attorneys at Freshfields.

  • Series

    Playing Golf Makes Me A Better Lawyer

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    Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.

  • Law Firms Should Move From Reactive To Proactive Marketing

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    Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.

  • 3 Ways To Limit Risks Of Black-Box AI In Financial Services

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    As regulators increasingly highlight the potential for artificial intelligence to make unfair consumer credit decisions, and require financial institutions to explain how these so-called black-box algorithms arrive at conclusions, companies should consider three key questions to reduce their regulatory risks from these tools, say Jeffrey Naimon and Caroline Stapleton at Orrick.

  • Tips For Revamping Patent Portfolio Strategy In AI Deal Era

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    Recent data suggests patents are significantly enhancing exit valuations, particularly with cutting-edge technologies like those powered by artificial intelligence, but it is necessary to do more than simply align patent strategy with business goals, says Keegan Caldwell at Caldwell Law.

  • Opinion

    The Big Issues A BigLaw Associates' Union Could Address

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    A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.

  • Opinion

    It's Time For A BigLaw Associates' Union

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    As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.

  • How Justices Upended The Administrative Procedure Act

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    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • How Corner Post Affects Enviro Laws' Statutes Of Limitations

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    The U.S. Supreme Court's recent ruling in Corner Post v. Federal Reserve Board has helped to alter the fundamental underpinnings of administrative law — and its plaintiff-centric approach may have implications for some specific environmental laws' statutes of limitations, say Chris Leason and Liam Martin at Gallagher and Kennedy.

  • Jarkesy May Thwart Consumer Agencies' Civil Penalty Power

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    The U.S. Supreme Court's ruling in U.S. Securities and Exchange Commission v. Jarkesy not only implicates future SEC administrative adjudications, but those of other agencies that operate similarly — and may stymie regulators' efforts to levy civil monetary penalties in a range of consumer protection enforcement actions, say attorneys at Holland & Knight.

  • Lessons From Recent SEC Cyber Enforcement Actions

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    The recent guidance by the SEC's Division of Corporation Finance is helpful to any company facing a cybersecurity threat, but just as instructive are the warnings raised by the SEC's recent enforcement actions against SolarWinds, R.R. Donnelley and Intercontinental Exchange, say attorneys at O'Melveny.

  • 2nd Circ. Ruling Reaffirms Short-Swing Claims Have Standing

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    The Second Circuit's recent ruling in Packer v. Raging Capital reversing the dismissal of a shareholder's Section 16(b) derivative suit seeking to recover short-swing profits for lack of constitutional standing settles the uncertainty of the district court's decision, which could have undercut Congress' intent in crafting Section 16(b) in the first place, say attorneys at Simpson Thacher.

  • Inside OCC's Retail Nondeposit Investment Products Refresh

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    In addition to clarifying safe and sound risk management practices generally, the Office of the Comptroller of the Currency's revised booklet on retail nondeposit investment products updates its guidance around certain sales practices in light of the U.S. Securities and Exchange Commission's adoption of Regulation Best Interest, say attorneys at Debevoise.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

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