Capital Markets

  • February 13, 2025

    Musk's $97B OpenAI Bid Dubbed A 'Stunt' Amid Other Rumors

    After a Wall Street Journal report on Monday revealed that a consortium of investors led by Elon Musk was offering $97.4 billion to buy the nonprofit that controls OpenAI, rumors began to swirl regarding the true intentions behind the billionaire's bid.

  • February 13, 2025

    GOP Rep. Moves To Nix SEC's Enhanced Fund Disclosures

    A Republican congressman has introduced a resolution that would repeal a recently adopted U.S. Securities and Exchange Commission regulation requiring more detailed and frequent disclosures from mutual funds.

  • February 13, 2025

    Willkie-Led Defense Firm Karman Prices Upsized $506M IPO

    Shares of Karman Holdings Inc. soared in debut trading Thursday after the defense and space systems firm priced an upsized $506 million above its marketed range, raising money for Karman and its private equity shareholders, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Latham & Watkins LLP.

  • February 13, 2025

    Paul Hastings, Cooley Lead Obesity-Focused Aardvark's IPO

    Obesity-focused Aardvark Therapeutics Inc. began trading Thursday after pricing a $94 million initial public offering at the bottom of its range, represented by Paul Hastings LLP and underwriters' counsel Cooley LLP, joining a string of biotechnology firms to go public recently.

  • February 13, 2025

    Kirkland, Davis Polk Steer SailPoint's Upsized $1.38B IPO

    Private equity-backed cybersecurity firm SailPoint began trading Thursday following an upsized $1.38 billion initial public offering that priced at the top of its range, represented by Kirkland & Ellis LLP and underwriters' counsel Davis Polk & Wardwell LLP, marking its return to public markets three years after being taken private.

  • February 13, 2025

    Logistics Co. Ferrari Eyes €785M Market Cap In Dutch IPO

    Ferrari Group PLC confirmed Thursday it has floated on the Euronext Amsterdam stock exchange, with the shipping and logistics business pricing its initial stock offering at €8.6 ($9) per share.

  • February 12, 2025

    Wells Fargo Cheated Seminole Trust Out Of $800M, Jury Hears

    Wells Fargo and its predecessor Wachovia cheated minors of the Seminole Tribe of Florida out of $818 million by secretly hiking fees and mismanaging investments in a multibillion-dollar gambling trust, a Florida jury heard Wednesday in opening statements for a multiweek trial in litigation involving more than 2,000 minors.

  • February 12, 2025

    EthereumMax Buyers Seek Cert. In Celeb Crypto Promos Suit

    A group of investors in crypto product EthereumMax have asked a federal judge in California to certify a class action accusing Floyd Mayweather Jr., Kim Kardashian and other celebrities of promoting the token, which allegedly was used in a pump-and-dump scheme.

  • February 12, 2025

    Crypto CEO Made $425K Disappear, Investor Tearfully Testifies

    A former business partner of a Texas man accused of running a $5 million fraud centered on a new "anti-money laundering" cryptocurrency testified tearfully before a California federal jury on Wednesday that her family invested about $425,000 in the defendant's previous cryptocurrency venture and lost every penny.

  • February 12, 2025

    SEC Rescinds Stricter Gensler-Era Proxy Exclusion Guidance

    The U.S. Securities and Exchange Commission on Wednesday rescinded Biden-era guidelines around excluding certain shareholder proposals from proxy statements, reverting the agency's posture to an era that was generally more receptive to companies seeking such exclusions.

  • February 12, 2025

    Aurion Tells Del. Justices IPO Delayed Amid Investor Battle

    Cell therapy venture Aurion Biotech told Delaware's Supreme Court on Wednesday that it has delayed a planned initial public offering now at the center of an appeal from a January Court of Chancery ruling that rejected a top investor's challenge to a reverse stock split.

  • February 12, 2025

    Crypto Operator Seeks No Prison Time For $1M Fraud Plea

    The founder of a cryptocurrency project who copped to wire fraud after gambling with over $1 million from investors wants to avoid a custodial sentence, though prosecutors have asked to see him serve just over two years.

  • February 12, 2025

    Judge Partially Certifies Credit Suisse XIV Notes Class Action

    A New York federal judge has granted class certification to investors alleging that Credit Suisse manipulated the market for its XIV notes, while denying certification for those claiming losses from misrepresentations, finding that the suggested class failed to resolve previous deficiencies in its proposal.

  • February 12, 2025

    OCC Departs International Network Focused On Climate Risks

    The Office of the Comptroller of the Currency on Tuesday became the latest U.S. government entity to withdraw from the Network of Central Banks and Supervisors for Greening the Financial System, an international consortium focused on the financial sector's responses and resilience to climate change.

  • February 12, 2025

    Power Generation Co. Going Public Via $770M SPAC Deal

    Energy solutions company e2Companies LLC, led by Haynes Boone, on Wednesday unveiled plans to go public via a merger with Vinson & Elkins LLP-advised special purpose acquisition company Nabors Energy Transition Corp. II in a deal that holds a pro forma enterprise value of $770 million for the combined company.

  • February 12, 2025

    NYSE Plans To Launch New Exchange In Texas

    The New York Stock Exchange on Wednesday announced plans to launch a new exchange in Texas, as competition for listed companies in that region intensifies.

  • February 12, 2025

    Crypto Platform EToro Confidentially Files IPO Proposal

    Crypto platform eToro Group on Wednesday announced that it has confidentially submitted plans to U.S. regulators regarding a proposed initial public offering, marking the latest development in the trading and investment platform's yearslong attempt to go public.

  • February 12, 2025

    Trump's Picks For CFPB, OCC Chiefs Hailed By Industry

    President Donald Trump has tapped Jonathan McKernan, formerly of the Federal Deposit Insurance Corp., to lead the Consumer Financial Protection Bureau full time, part of a slate of top financial regulatory nominees that has many in industry breathing a sigh of relief.  

  • February 12, 2025

    Trump Picks Crypto Policy Advocate Quintenz To Lead CFTC

    President Donald Trump has nominated Brian Quintenz, a former member of the U.S. Commodity Futures Trading Commission and current head of policy for venture capital firm a16z's crypto fund, to lead the derivatives market regulator.

  • February 11, 2025

    DOGE, Treasury Accused Of 'Largest' US Data Breach

    Elon Musk's Department of Government Efficiency, the U.S. Department of the Treasury and the U.S. Office of Personnel Management conducted the "largest" data and IT security breaches in U.S. history, illegally exposing millions of people's sensitive information, a data privacy watchdog and group of federal employees alleged this week.

  • February 11, 2025

    Quantum Computing Secures TRO In Battle With Investor

    New Jersey-headquartered Quantum Computing Inc. won continuation of a Delaware Court of Chancery temporary restraining order Tuesday against a former consultant and advisory firm, barring their alleged use of trade secrets and other confidential information pending a preliminary injunction hearing or trial.

  • February 11, 2025

    'Fraudster' Or 'Fool'? Jury Gets 2 Takes On Exec's Crypto Flop

    The criminal case against a cryptocurrency company CEO accused of defrauding investors of $5 million is about "greed," a prosecutor told a California federal jury during opening arguments Tuesday while a defense lawyer characterized his client as a "fool" who floundered while "swimming with sharks," including disgraced ex-lobbyist Jack Abramoff.

  • February 11, 2025

    Crypto Bills A 'Test Case' For AI Regs, GOP Senator Says

    A Republican U.S. senator who is leading the push for crypto industry regulation said Tuesday that Congress' actions in the digital asset space could determine whether there is a path forward for writing regulations governing the artificial intelligence industry.

  • February 11, 2025

    Brokerage Exec Can Be Sued Over Fraud Claims, Judge Says

    An Illinois magistrate judge told the former owner of Center Street Securities on Tuesday that he cannot escape claims he concealed regulatory issues before his company was acquired by financial services company Arete Wealth, ruling that the stock purchase agreement's broad definition of liabilities could include the allegedly undisclosed violations at issue in the suit.

  • February 11, 2025

    Labaton Keller Appointed Lead In Healthcare Co. IPO Suit

    A New York federal judge on Tuesday appointed Labaton Keller Sucharow LLP as lead counsel in a securities class action accusing nursing-care provider PACS Group Inc. of misleading investors about false Medicare claims and regulatory investigations tied to its initial public offering.

Expert Analysis

  • When Innovation Overwhelms The Rule Of Law

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    In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.

  • The Risk And Reward Of Federal Approach To AI Regulation

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    The government has struggled to keep up with artificial intelligence's furious pace, but while an overbroad federal attempt to adopt a more unified approach to regulating AI poses its own risks, so does the current environment of regulatory uncertainty, say attorneys at Covington.

  • How Cos. Can Prepare Now For SEC E-Filing System Changes

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    The U.S. Securities and Exchange Commission's amendments to the Electronic Data Gathering, Analysis and Retrieval system are designed to improve access to and management of EDGAR accounts, and with the March 24 effective date fast approaching, and the transition requiring significant coordination, companies should begin planning now, say attorneys at Debevoise.

  • The Tides Are Changing For Fair Access Banking Laws

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    The landscape of fair access banking laws, which seek to prevent banks from denying services based on individuals' ideological beliefs, has shifted in the last few years, but a new presidential administration provides renewed momentum for advancing such legislation against the backdrop of state efforts, say attorneys at Latham.

  • Imagine The Possibilities Of Openly Autistic Lawyering

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    Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.

  • Kiromic SEC Order Shows Importance Of Self-Reporting

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    The U.S. Securities and Exchange Commission's recently filed settled charges against Kiromic BioPharma illustrate the critical intersection between U.S. Food and Drug Administration regulatory processes and investor disclosures under the securities laws, and showcase how responding promptly to internal whistleblower reports may reap benefits, say attorneys at Arnold & Porter.

  • Series

    Documentary Filmmaking Makes Me A Better Lawyer

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    Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.

  • Litigation Funding Disclosure Debate: Strategy Considerations

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    In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.

  • Understanding Risks Of Celebrities 'Hawking' Crypto Tokens

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    Prominent social media personality Haliey Welch was recently sued over the promotion and sale of the Hawk Tuah cryptocurrency memecoin, underscoring the importance of public figures conducting due diligence to verify they aren't endorsing a token that is in fact a security, say attorneys at Sheppard Mullin.

  • Top Considerations For Insurance Companies In 2025

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    As insurance industry participants look to plan for the year, regulatory changes, climate-related challenges, the ongoing effects of social inflation and the potential for significant mergers and acquisitions will be among the key items for insurer boards and management to have on their radar, say attorneys at Debevoise.

  • Series

    Adventure Photography Makes Me A Better Lawyer

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    Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.

  • Future Of Crypto-Asset Classification Is In 2nd Circ.'s Hands

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    A definitive ruling from the Second Circuit in a rare interlocutory appeal in the U.S. Securities and Exchange Commission's ongoing court battle with Coinbase could finally establish clear guidelines on the classification of digital assets, influencing how they are regulated and traded in the U.S., say attorneys at Manatt.

  • 5 Ways To Create Effective Mock Assignments For Associates

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    In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.

  • Assessing Gary Gensler's Legacy At The SEC

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    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.

  • Calif. Cannabis Decision Deepens Commerce Clause Divide

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    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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