Capital Markets

  • November 04, 2024

    Finance Cos. Can't Prove Trade Secret Theft, Conn. Court Told

    A Connecticut financial adviser denied stealing trade secrets from his former firm and improperly accessing its computer systems after he resigned to run his own company, telling a state court that his onetime employer and its affiliates cannot prove the allegations in a lawsuit they brought against him.

  • November 04, 2024

    FINRA Fines Morgan Stanley $1M For Controls Violations

    Morgan Stanley & Co. LLC has agreed to pay $1 million to resolve Financial Industry Regulatory Authority claims it violated the Exchange Act by failing to safeguard its customers against the entry of orders that were placed in error.

  • November 04, 2024

    Debt Collectors Sue Over CFPB's Guidance On Medical Debt

    A debt collection trade group has sued the Consumer Financial Protection Bureau in Washington, D.C., federal court to overturn recent guidance that warned collectors about seeking payment on potentially inflated or unverified medical bills, slamming it as an "overtly political" end-run around proper rulemaking.

  • November 04, 2024

    Crypto Industry Hopes Election Will Bring SEC Shake-Up

    The White House is poised to take a fresh approach to the digital asset industry regardless of who wins the presidency, but experts said the crypto industry's hopes for more rules and fewer enforcement cases ultimately depend on a new head of the U.S. Securities and Exchange Commission and a renewed push from Congress to pass crypto legislation.

  • November 04, 2024

    Coinme Crypto ATMs Suspended By Conn. Banking Chief

    Connecticut's banking commissioner has suspended cryptocurrency ATM company Coinme Inc.'s ability to transfer money in the Constitution State and has hinted toward possible fines, citing violations of know-your-consumer laws, complaints of scams, a negative multistate investigation and failures to meet minimum capitalization laws.

  • November 04, 2024

    UAE Grocery Giant Lulu Seeks $1.7B IPO As Demand Grows

    United Arab Emirates grocery chain Lulu Retail Holdings PLC on Monday unveiled additional investment in an upsized initial public offering that could net $1.7 billion, potentially making it the largest UAE listing this year, guided by three law firms.

  • November 04, 2024

    Sports Collectibles Co. Sued For Books And Records

    An early investor in a sports collectibles seller sued the company in Delaware's Chancery Court demanding access to its books and records, saying that its failure to comply with U.S. Securities and Exchange Commission reporting requirements in the wake of struggles following its 2023 acquisition "raises performance concerns."

  • November 04, 2024

    Freshfields Boosts Capital Markets Team With Latham Atty

    A partner with experience advising companies on capital markets transactions is joining Freshfields Bruckhaus Deringer LLP, which has recently represented clients in life sciences deals totaling more than a billion dollars, the firm announced Monday.

  • November 04, 2024

    Womble Bond Hires Nelson Mullins Corporate Partner

    Womble Bond Dickinson has hired a former Nelson Mullins Riley & Scarborough LLP corporate attorney, who is joining the firm's Baltimore team to continue his work on the purchase and sale side of merger and acquisitions deals, the firm announced.

  • November 04, 2024

    US IPO Activity Hits Standstill As Election Takes Center Stage

    U.S. initial public offerings have screeched to a halt amid peak election season, and dealmakers expect new listings to largely remain iced until next year as market participants sort out ramifications of Tuesday's presidential and congressional contests.

  • November 04, 2024

    Justices Nix Ex-Adviser's Manifest Disregard Challenge

    The U.S. Supreme Court on Monday turned away a petition asking it to resolve whether the Eleventh Circuit wrongly nixed an ex-Morgan Stanley financial adviser's bid to vacate an arbitral award favoring his former employer on the grounds that the panel manifestly disregarded the law.

  • November 01, 2024

    'Mutant Ape' NFT Developer Avoids Prison For 'Rug Pull'

    A 26-year-old French citizen was spared further incarceration on Friday for a $2.9 million scheme to fraudulently market "Mutant Ape Planet" nonfungible tokens to investors, a sentence in large part driven by the uncertainty over the purchasers' loss.

  • November 01, 2024

    Meet The Attys Arguing Meta's High Court Disclosure Suit

    Both Meta Platforms and its investors are calling in the big guns as two U.S. Supreme Court veterans are set to go head-to-head Wednesday in a case that could limit the types of information corporations are required to disclose to shareholders.

  • November 01, 2024

    USCIS Moves To Toss Regional Centers' EB-5 Guidance Fight

    U.S. Citizenship and Immigration Services has urged a D.C. federal judge to toss a lawsuit alleging that it unlawfully changed the minimum investment period for foreign investors seeking green cards, saying it did not create a legislative rule but merely interpreted one.

  • November 01, 2024

    'Razzlekhan' Asks For Time Served For Role In Crypto Hack

    The wife of a hacker convicted for his role in a scheme to steal bitcoin worth billions of dollars from crypto exchange Bitfinex has asked to dodge future prison time ahead of sentencing for her role laundering the scheme's proceeds.

  • November 01, 2024

    Crypto Co. Gemini Teed Up For CFTC Trial After Appeal Denied

    A New York federal judge has denied crypto exchange Gemini's bid to immediately appeal his decision that Gemini could be held liable for alleged misrepresentations to the U.S. Commodity Futures Trading Commission concerning its proposed bitcoin futures contract, sending the case to trial.

  • November 01, 2024

    Crypto Co. CoinShares Appoints Citadel Alumna As GC

    Crypto investment company CoinShares International Ltd. has appointed an alumna of Sidley Austin LLP and investment firm Citadel to serve as group general counsel, the company announced.

  • November 01, 2024

    Newbury Street SPAC Returns To Market With $150M Offering

    Special purpose acquisition company Newbury Street II Acquisition Corp. began trading Friday after raising a $150 million initial public offering, guided by three law firms, and marking the second Newbury Street vehicle to go public under similar management.

  • November 01, 2024

    CFPB Fines VyStar $1.5M For 'Botched' Web Platform Rollout

    The Consumer Financial Protection Bureau has fined VyStar Credit Union $1.5 million for an alleged "botched" rollout of a new online banking platform that made it hard for members to perform basic banking functions for weeks, with some features unavailable for more than six months.

  • November 01, 2024

    Del. Chancellor To Issue Musk Pay Suit Ruling By Year's End

    Delaware's chancellor said she'll issue a final ruling by the end of the year in the lawsuit challenging Tesla CEO Elon Musk's multibillion-dollar stock-based compensation plan, stating it's taking longer than expected to determine whether to allow a post-verdict stockholder vote to resurrect the pay package.

  • November 01, 2024

    Blockchain Gaming Co. Immutable Says SEC May Bring Suit

    Blockchain gaming firm Immutable said Friday that the U.S. Securities and Exchange Commission is considering bringing an enforcement action after the firm received notice of the regulator's scrutiny on an "accelerated timeline" ahead of the U.S. election.

  • November 01, 2024

    Rent The Runway Wants Redo On Investor Suit Exit Bid

    Rent the Runway, actress Gwenyth Paltrow and the company's underwriters have urged a New York federal judge to rethink her September order that kept alive certain claims in a proposed investors class action alleging the clothing rental company failed to inform investors about major challenges it was facing in the run-up to its 2021 initial public offering.

  • November 01, 2024

    Blockchain Coinvestors SPAC To Dissolve With No Biz Combo

    Special purpose acquisition company Blockchain Coinvestors Acquisition Corp. I will dissolve and return investors their money after two failed merger attempts, the company has announced, marking the latest SPAC to close shop amid lean market conditions.

  • November 01, 2024

    Taxation With Representation: Kirkland, Davis Polk, Wachtell

    In this week's Taxation with Representation, BC Partners sells its majority equity interest in GardaWorld, Lone Star Funds sells specialty chemicals company AOC to Nippon Paint Holdings, Crescent Biopharma takes GlycoMimetics private, and Francisco Partners buys AdvancedMD from Global Payments.

  • November 01, 2024

    MVP: Sidley's Samir A. Gandhi

    Sidley Austin LLP partner Samir A. Gandhi guided landmark capital raises despite jittery markets over the past year, from marketing automation startup Klaviyo's $576 million initial public offering to hospital operator Ardent Health's long-awaited listing, plus several sizable debt offerings, earning him a spot as one of the 2024 Law360 Capital Markets MVPs.

Expert Analysis

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

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    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • 6 Considerations To Determine If A Cyber Incident Is Material

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    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Carbon Offset Case A Win For CFTC Enviro Fraud Task Force

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    An Illinois federal court's decision in Commodity Futures Trading Commission v. Ikkurty — earning the CFTC a sizeable monetary award that will likely incentivize similar enforcement pursuit — shows the impact of the commission's Environmental Fraud Task Force, say attorneys at Steptoe.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Foreign Threat Actors Pose Novel Risks To US Tech Cos.

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    A recent bulletin jointly issued by several U.S. intelligence agencies warns technology startups and the venture capital community about national security risks posed by foreign threat actors, so companies interested in raising foreign capital should watch for several red flags, say Robert Friedman and Jacob Marco at Holland & Knight.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

  • Crypto Regs Could See A Reset Under The Next President

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    Donald Trump has taken a permissive policy stance favoring crypto, while Kamala Harris has been silent on the issue, but no matter who wins the presidential election, we may see a more lenient regulatory climate toward the digital currency than from the Biden administration, says Liam Murphy at McKool Smith.

  • Planning Law Firm Content Calendars: What, When, Where

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    During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.

  • 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.

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