Capital Markets

  • January 10, 2025

    Law Firm's Fee Suit Can't Proceed In Ga., Investment Co. Says

    A Michigan-based investment firm has asked a Georgia federal judge to toss a suit accusing it of failing to pay more than $180,000 in legal fees owed to an Atlanta-area law firm, arguing the court lacks jurisdiction under the state's long-arm statute.

  • January 10, 2025

    Crypto Buyers Say They Were Duped Out Of Millions

    Investors in two crypto projects — Phoenix Community Capital and its offshoot, Xeta Capital — alleged in Tennessee federal court that the projects' leaders duped them out of tens of millions of dollars with false promises of "returns, transparency, and the legitimacy of the enterprises."

  • January 09, 2025

    CFPB Bars Ex-Agency Attys From Revived Innovation Policies

    The Consumer Financial Protection Bureau has said it will not consider applications for its rebooted no-action letter and compliance sandbox policies when those applications are submitted by financial service companies represented by former bureau attorneys as outside counsel.

  • January 09, 2025

    Target Brass Face Derivative Suit Over DEI Fallout

    Target Corp.'s executives and directors have been hit with a shareholder derivative suit in Florida federal court alleging that the company's diversity, equity and inclusion initiatives and its offerings of LGBTQ+ merchandise harmed investors.

  • January 09, 2025

    Zillow Brings 'Goldman' Debate Over Class Cert. To 9th Circ.

    Zillow Group Inc. is asking the Ninth Circuit to issue its first ruling on the correct application of a U.S. Supreme Court's Goldman decision to investor class certification bids, saying a lower court was wrong to certify a class of shareholders who alleged that the company misled them about the robustness of its now defunct home-flipping business.

  • January 09, 2025

    Sentara Health Workers Say Retirement Fund Is Mismanaged

    Two Sentara Health employees have filed proposed class action in Virginia federal court accusing the company's retirement fund managers of failing to properly manage a $136 million plan, arguing it lost millions due to the committee's retention of an underperforming stable value fund in the face of better options.

  • January 09, 2025

    Susman Godfrey Vies To Help Lead Crypto DAO Suit

    Susman Godfrey LLP has asked a federal judge in California to allow it to serve as co-lead counsel in an investor lawsuit against decentralized autonomous organization Lido DAO and its large institutional investors over allegedly unregistered securities sold in the form of crypto tokens.

  • January 09, 2025

    FTX Squabbles With Crypto Startup Over EU Distributions

    The estate of bankrupt crypto exchange FTX said it had no involvement with a startup cryptocurrency exchange's announcement that it had purchased FTX EU and would be handling distributions to former customers of the FTX European subsidiary.

  • January 09, 2025

    5 Things Executive Pay Attys Should Keep An Eye On In 2025

    Tesla chief executive Elon Musk will be seeking a green light for a $56 billion pay package while a new administration in the White House may scuttle proposed incentive pay regulations and a ban on noncompete agreements. Here, Law360 looks at five things executive compensation lawyers will be following in the new year.

  • January 09, 2025

    AI Startup Anthropic Seeks $60B Valuation, Plus More Rumors

    Artificial-intelligence startup Anthropic is seeking $2 billion in a new funding round that would value the company at $60 billion, while fashion giant Shein is now eyeing a mid-2025 initial public offering in London and Constellation Energy is lining up a $30 billion bid to acquire electricity provider Calpine. Here, Law360 breaks down the notable deal rumors from the past week.

  • January 09, 2025

    Moore & Van Allen Nabs Baker McKenzie Finance Pro

    Moore & Van Allen PLLC announced that longtime financial services counselor Mark Tibberts has joined its Charlotte, North Carolina, office as a partner, bringing with him knowledge on energy and infrastructure projects that will bolster the firm's offerings to its clients.

  • January 08, 2025

    Convicted Ex-Nomura Trader To Settle SEC's RMBS Action

    Ex-Nomura Securities International Inc. trader Michael Gramins, who was convicted in 2017 of scheming to trick mortgage bond buyers, has reached a tentative agreement with the U.S. Securities and Exchange Commission to settle follow-on civil claims, according to an agency filing on Wednesday.

  • January 08, 2025

    Quantitative Trader Accused Of Stealing Firm's Source Code

    New York federal prosecutors have accused a quantitative trader of stealing the secrets of a billion-dollar company's source code from his former employer to use at his own trading firm, according to an indictment unsealed Wednesday in New York federal court.

  • January 08, 2025

    Edward Jones Fined $17M Over Customer Transition Fees

    Edward Jones has agreed to pay $17 million to end an investigation into alleged supervisory failures that may have led it to overcharge customers who transitioned from its brokerage division to its advisory division, state regulators announced Wednesday.

  • January 08, 2025

    Oppenheimer Fights Claims Over Ex-Worker's Ponzi Scheme

    Financial services giant Oppenheimer & Co. Inc. is seeking to avoid an arbitration fight brought by three North Carolina residents over a Ponzi scheme orchestrated by a former Oppenheimer employee, arguing in a new suit the individuals have never been customers of Oppenheimer and, therefore, have no standing to bring claims or arbitrate.

  • January 08, 2025

    Shkreli Wants Wu-Tang To Weigh In On Crypto Album Fight

    Martin Shkreli told a Brooklyn federal judge that the writer and producer of the one-of-a-kind Wu-Tang Clan album should weigh in on their rights to the work as the crypto project that purchased the album presses ahead with a suit accusing the pharma bro of keeping copies of the album after he was ordered to give them up.

  • January 08, 2025

    Reed Smith Accused Of 'Causing Chaos' In $102M Award Fight

    The new owners of reorganized international shipping group Eletson Holdings are continuing their battle with the company's former owners and their counsel at Reed Smith in litigation over a $102 million arbitral award, alleging the BigLaw firm's "obstructionist conduct" is "causing chaos."

  • January 08, 2025

    Biotech Co.'s Facility Failures Lost Investors Money, Suit Says

    The executives and directors of biotechnology company Humacyte Inc. have been hit with a shareholder derivative suit in North Carolina federal court alleging the company concealed that its manufacturing facility failed to comply with certain quality assurance practices, leading to delayed regulatory review for its product candidate.

  • January 08, 2025

    Musk Appeals $56B Pay Package Rejection To Del. High Court

    Tesla Inc. CEO Elon Musk and other top Tesla executives officially appealed to the Delaware Supreme Court on Wednesday a series of chancellor rulings that scuttled Musk's $56 billion, 10-year pay package and awarded a shareholder's counsel $345 million in fees in the yearslong derivative dispute.

  • January 08, 2025

    3 Firms Steer Galapagos' Plan To Spin Off New Drug Company

    Belgian biotechnology firm Galapagos NV said Wednesday that it will spin off certain operations into a second company focused on developing innovative medicines with about €2.45 billion ($2.5 billion) in cash to start, while Galapagos in turn focuses on cell therapies, through a deal guided by three law firms.

  • January 08, 2025

    Exiting CFTC Chair Warns Crypto Without Rules 'Ends Badly'

    The outgoing chair of the U.S. Commodity Futures Trading Commission Rostin Behnam used his final speech on Wednesday to urge lawmakers and regulators to address the "gap" in oversight of cryptocurrency markets.

  • January 08, 2025

    Criminal Case Against Terraform Founder Said To Exceed SEC's

    The $40 billion criminal case against Terraform founder Do Kwon contains evidence such as recordings and seized mobile phones that exceed what securities regulators presented when they prevailed against him at a civil fraud trial, prosecutors said Wednesday.

  • January 08, 2025

    Chancery Awards $176M Atty Fee In Tesla Board Pay Suit

    Delaware's chancellor approved on Wednesday a $176.16 million Tesla stockholder class attorney fee award to three firms for a settlement of an excessive director compensation suit that is expected to return $734 million to the company through a combination of director stock, option and cash givebacks.

  • January 07, 2025

    Gig Worker Co. Handy To Refund $3M In FTC, NYAG Settlement

    Gig economy company Handy Technologies Inc. has agreed to return nearly $3 million to workers who used the platform, in a settlement with the Federal Trade Commission and the New York Attorney General's Office to resolve claims that the company misled workers about how much they could expect to earn through its services.

  • January 07, 2025

    Energy Co. Inks $126 Million Deal To End SPAC Merger Suit

    Investors suing the now-bankrupt oil and gas company Alta Mesa Resources Inc. have asked a Texas federal judge to preliminarily approve a $126.3 million deal to settle claims that the company and its executives misled investors about the value of a 2017 merger.

Expert Analysis

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • Series

    A Day In The In-House Life: Narmi GC Talks Peak Productivity

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    On a work-from-home day in August, Narmi general counsel Amy Pardee chronicles a typical day in her life in which she organizes her time to tackle everything from advising on products and contract negotiations to volunteering and catching up on the New York Times crossword.

  • How Ripple Final Judgment Fits In Broader Crypto Landscape

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    The Southern District of New York's recent $125 million civil penalty levied in U.S. Securities and Exchange Commission v. Ripple will have a broad impact on the crypto industry as it was the first to hold that blind sales of digital assets are not securities, even if deemed securities in other circumstances, say attorneys at BakerHostetler.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

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    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

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    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • 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.

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