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Capital Markets
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March 28, 2025
FTX Sitting On $11.4B In Cash To Distribute To Creditors
FTX has $11.4 billion in funds ready to be handed out to creditors, but it still has much work to do to sort out the massive number of claims asserted against the collapsed cryptocurrency exchange, an attorney for the company told a Delaware bankruptcy judge Friday.
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March 28, 2025
DXC Technology Dodges Investor Suit Over Integration Issues
A Virginia federal judge has tossed an investor suit alleging that DXC Technology Co. and its top brass overhyped efforts to reduce restructuring and integration costs after acquiring several companies, finding that the plaintiffs failed to adequately allege any actionable false statements or knowledge of wrongdoing by the individual defendants.
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March 28, 2025
PE Firm Peppertree Wins $354M Award In Telecom Deal Row
An international arbitration panel has awarded $354 million to affiliates of private equity firm Peppertree Capital Management Inc. against the majority shareholders of a Latin American telecommunications tower operator, in a dispute stemming from an attempted sale of the company.
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March 28, 2025
Equity Markets Falter In Q1 As Investor Enthusiasm Dips
Global equity capital markets have started 2025 with a whimper, as rising geopolitical tensions and unexpected policy directions from the Trump administration have significantly cooled investor enthusiasm, according to a new report from data firm Dealogic.
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March 28, 2025
DOGE Officials Arrive At SEC With Unclear Agenda
Staffers with Elon Musk's Department of Government Efficiency have made the U.S. Securities and Exchange Commission the latest target of their cost-cutting measures, as the agency confirmed Friday that it has begun onboarding DOGE staff.
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March 27, 2025
Nikola Corp. Founder Says Trump Gave Him Full Pardon
President Donald Trump has pardoned Trevor Milton, the Nikola Corp. founder convicted of fraudulently inflating the electric-truck maker's value on Wall Street, Milton announced in a late Thursday post on X.
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March 27, 2025
Fenwick-Led AI Startup CoreWeave Prices Reduced $1.5B IPO
Artificial intelligence-focused startup CoreWeave Inc. on Thursday priced a downsized $1.5 billion initial public offering, represented by Fenwick & West LLP and underwriters' counsel Latham & Watkins LLP, well below its marketed range.
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March 27, 2025
SEC Liquidity Rule Suit Can't Be Axed Just Yet, Judge Says
A New York federal judge on Thursday refused to toss the U.S. Securities and Exchange Commission's suit alleging that Pinnacle Advisors LLC exceeded its allowed allotment of illiquid investments, as the intervening Loper Bright ruling has changed the standard for evaluating agency action since the dismissal bid was filed.
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March 27, 2025
Chinese Fintech Investors Urge NJ Court To Keep Suit Alive
Investors in Chinese fintech company 9F Inc. urged a New Jersey federal judge to keep their securities class action alive on Thursday, arguing that their third amended complaint now includes the specific details the court previously said would make their securities fraud claims viable.
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March 27, 2025
Crypto YouTuber Should Face Logan Paul's Suit, Judge Says
A Texas magistrate judge said media personality Logan Paul should be able to pursue his defamation claims against the YouTuber who called Logan's failed cryptocurrency project a "scam," given that the YouTuber presented the allegations as more fact than opinion.
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March 27, 2025
Upstart Investors Land Class Cert. In Insider Selling Suit
Shareholders who allege that tech-based lender Upstart and its executives participated in a $2.7 billion insider stock selling scheme can now proceed with their claims as a class, an Ohio federal judge determined on Thursday.
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March 27, 2025
Fla. Judge OKs FTC To Unfreeze Assets In E-Commerce Suit
A Florida federal judge authorized the Federal Trade Commission to unfreeze bank accounts controlled by an Ohio man accused of defrauding e-commerce platform users out of $14 million provided he gives certain financial disclosures, but kept a temporary restraining order precluding business operations in place for now.
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March 27, 2025
Russian Oligarch-Linked Firm Owner Can't Shake SEC's Claim
A New York federal judge has declined to toss claims brought by the U.S. Securities and Exchange Commission against an investment firm owner who allegedly managed a Russian oligarch's wealth in America without ever registering with the SEC as required.
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March 27, 2025
Judge Confirms $27M Award Against Electric Car Company
A New York federal judge confirmed a $27 million arbitral award for a multinational investment group alleging that an electric vehicle company it intended to invest in had not disclosed a proposed reverse merger with a mobile payment company.
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March 27, 2025
Ex-Atty Ran $840M Tax Evasion Scheme, DOJ Says
A former tax and real estate attorney ran a nationwide scheme that helped his customers avoid paying taxes on as much as $840 million in capital gains, the federal government told an Idaho federal court Thursday.
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March 27, 2025
FINRA Improperly Acts As Government Agency, 6th Circ. Told
The owner of a consulting company has urged the Sixth Circuit to overturn a decision by the U.S. Securities and Exchange Commission affirming sanctions imposed by the Financial Industry Regulatory Authority for alleged securities fraud, arguing that FINRA never had jurisdiction over him.
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March 27, 2025
SEC Drops Defense Of Biden-Era Climate Disclosure Rules
The U.S. Securities and Exchange Commission said Thursday it would no longer defend regulations requiring some of the world's largest corporations to publicly disclose the effects climate change could have on their businesses, walking away from an Eighth Circuit challenge to the rules that the agency's acting chair called "unnecessarily intrusive."
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March 27, 2025
Atkins Suggests He May Open SEC's Doors To DOGE
Paul Atkins, President Donald Trump's pick to lead the U.S. Securities and Exchange Commission, on Thursday appeared to welcome the potential arrival of Elon Musk's Department of Government Efficiency at the agency, while also pushing back on suggestions that his earlier votes as a Republican commissioner exacerbated the 2008 financial crisis.
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March 27, 2025
White & Case-Led $2.7B IPO For Swedish Health Group Wraps
Sweden's Asker Healthcare Group AB said Thursday that its initial public offering on the Nasdaq Stockholm exchange was oversubscribed with trading in its shares beginning the same day, wrapping up a flotation that valued the company at 26.8 billion Swedish kronor ($2.7 billion).
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March 27, 2025
Eletson, Levona Ask 2nd Circ. To Not Delay Atty Removal
The new owners of reorganized international shipping group Eletson and a creditor-turned-affiliate have urged the Second Circuit to nix Reed Smith LLP's emergency motion for a stay in a lawsuit seeking to enforce a $102 million arbitral award, as the law firm fights to continue representing the shipping company's pre-bankruptcy shareholders.
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March 27, 2025
Senate Backs Bid To Nullify CFPB Overdraft Rule
The U.S. Senate voted Thursday to overturn a Biden-era Consumer Financial Protection Bureau rule aimed at limiting overdraft fees at large banks to $5, passing a Republican-backed measure whose U.S. House companion now awaits a vote.
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March 26, 2025
Sotomayor Urges Caution On Nondelegation Doctrine Revamp
U.S. Supreme Court Justice Sonia Sotomayor cautioned her colleagues during oral arguments Wednesday against using a challenge to the Federal Communications Commission's administration of a broadband subsidy program as a way to resurrect the long-dormant nondelegation doctrine. Several conservative justices, however, seemed willing to disregard that admonition.
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March 26, 2025
Supreme Court Skeptical Of Nixing FCC Subsidy Fund
Conservative justices took aim Wednesday at rising costs in the country's multibillion-dollar phone and broadband subsidy system, questioning whether lawmakers put meaningful limits on the program's growth, but some argued the fund works just like others created by Congress that rely on revenues from industry fees.
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March 26, 2025
7 Firms Compete To Lead Novo Nordisk Securities Suit
Levi & Korsinsky LLP, Pomerantz LLP and the Rosen Law Firm PA are among seven law firms vying to lead proposed class claims accusing Novo Nordisk A/S of misleading investors about a clinical trial for an obesity drug.
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March 26, 2025
Crypto Co. CEO Must Face Suit Alleging Refund Fraud
The CEO of Power Block Coin LLC, which does business as SmartFi, must face a suit accusing him and the company of refusing to fulfill their "buyback guarantee" of its SmartFi tokens, with a Pennsylvania federal court ruling that the plaintiffs have sufficiently alleged that the CEO promised SmartFi would refund investors their money.
Expert Analysis
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Assessing Gary Gensler's Legacy At The SEC
Gary Gensler's tenure as U.S. Securities and Exchange Commission chair is defined by a record of commonsense regulation in some areas and social activism in others, and by increasing judicial skepticism about the SEC's authority to fulfill its regulatory, enforcement, administrative law and adjudicatory functions, say attorneys at Arnold & Porter.
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Calif. Cannabis Decision Deepens Commerce Clause Divide
In Peridot Tree v. Sacramento, the Eastern District of California joined a growing minority of courts that have found the dormant commerce clause inapplicable to state-regulated marijuana, and the Ninth Circuit will soon provide important guidance on this issue, say attorneys at Perkins Coie.
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Takeaways From DOJ Fraud Section's 2024 Year In Review
Attorneys at Paul Weiss highlight notable developments in the U.S. Department of Justice Fraud Section’s recently released annual report, and discuss what the second Trump administration could mean for enforcement in the year to come.
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Recent Suits Show Antitrust Agencies' Focus On HSR Review
The U.S. Department of Justice's suit this month against KKR for inaccurate and incomplete premerger filings, along with other recent cases, highlights the agency's increasing scrutiny of Hart-Scott-Rodino Act compliance for private equity firms, say attorneys at Willkie.
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The 7th Circ.'s Top 10 Civil Opinions Of 2024
Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2024, and explain how they may affect issues related to mass arbitration, consumer fraud, class certification and more.
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What's Next For Accounting Enforcement After SEC's Big 2024
The U.S. Securities and Exchange Commission under the Trump administration will likely continue to focus enforcement efforts on many of the same accounting and auditing issues that it pursued over the past year — but other areas, such as ESG, internal controls and cryptocurrency cases, may fall out of focus, say attorneys at Debevoise.
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Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
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Insights For Finance Firms, Regulators From House AI Report
Though a U.S. House of Representatives report encourages the financial sector to embrace artificial intelligence tools, its focus on ensuring high-quality datasets, transparent development and equitable access underscores that firms and regulators must strike a delicate balance between technological innovation and responsible implementation, says Brendan Palfreyman at Harris Beach.
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UPS Penalty Demonstrates Goodwill Impairment Red Flags
The U.S. Securities and Exchange Commission's recent $45 million penalty against UPS for withholding reports of goodwill impairment should warn investors to watch for the telltale signs of companies inflating their worth by delaying tests that would reveal similar declines in the value of intangible assets, say attorneys at Labaton Keller.
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Series
Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
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5 Litigation Funding Trends To Note In 2025
Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.
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The Blueprint For A National Bitcoin Reserve
The new administration has the opportunity to pave the way for a U.S.-backed crypto reserve, which could conceptually function as a strategic asset akin to traditional reserves like gold markets, hedge against economic instability, and influence global crypto adoption, say attorneys at Duane Morris.
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Rethinking Litigation Risk And What It Really Means To Win
Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.
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5 Notable Information Security Events In 2024
B. Stephanie Siegmann at Hinckley Allen discusses 2024's largest and most destructive data breaches seen yet, ranging from ransomware disrupting U.S. healthcare systems on a massive scale, to tensions increasing between the U.S. and China over cyberespionage and the control of U.S. data.
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Series
Playing Rugby Makes Me A Better Lawyer
My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.