Capital Markets

  • 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.

  • October 31, 2024

    Ex-Goldman Exec Says 1MDB Judge Thwarted His Defense

    Former Goldman Sachs executive Roger Ng on Thursday told the Second Circuit that his trial defense over the massive $6.5 billion 1MDB scheme was marred by the wrongful exclusion of video evidence that supported his claim that $35 million he received in alleged kickbacks was actually investment proceeds.

  • October 31, 2024

    Instacart Says Investors Based Pre-IPO Suit On Anecdotes

    Grocery delivery company Instacart has urged a California federal judge to toss a proposed class action suit claiming it misrepresented its growth potential in the lead-up to its initial public offering, saying investors are "attempting to conjure a securities fraud lawsuit out of thin air."

  • October 31, 2024

    2nd Circ. Draws BDO Back In Investor Suit In Revised Opinion

    The Second Circuit on Thursday reversed course in an amended opinion about an investor suit over financial restatements made by AmTrust Financial Services Inc., finding that auditor BDO USA LLP is not off the hook for certifying the insurer's financial statements.

  • October 31, 2024

    Ex-Citadel Reps Can't Escape Trade Secrets Suit

    A New York federal judge has greenlighted most claims in Citadel Securities' lawsuit accusing a Swiss cryptocurrency trading firm founded by two of its former employees of stealing its trade secrets, while tossing those asserted against the firm's French angel investor for lack of jurisdiction.

  • October 31, 2024

    JPMorgan To Pay $151M To Resolve SEC Disclosure Claims

    The U.S. Securities and Exchange Commission announced Thursday that two JPMorgan Chase & Co. affiliates agreed to pay $151 million to resolve five separate enforcement actions over a number of allegations, including making misleading disclosures to investors and failing to make recommendations in the best interest of customers.

  • October 31, 2024

    Feds: No 'Willfulness' Needed In Texas AG-Tied Investor Case

    Federal prosecutors asked a Texas federal judge to reject an attempt by an investor at the center of the failed impeachment of Texas Attorney General Ken Paxton to toss the fraud case, saying Wednesday that "willfulness" isn't needed for a conspiracy to commit wire fraud conviction.

  • October 31, 2024

    10 Firms Vie To Lead, Consolidate Super Micro Investor Suits

    Ten firms have submitted competing bids to lead and consolidate proposed class actions alleging that artificial intelligence server manufacturer Super Micro Computer Inc.'s shares fell roughly 20% after a short seller report accused it of violating its previous settlement with the U.S. Securities and Exchange Commission over accounting improprieties.

  • October 31, 2024

    NY Court Urged To Reject 'Audacious' Shareholder Test Cases

    Leading business groups have come to the aid of Bayer AG and Barclays PLC as the companies seek to fend off a pair of "audacious" test cases that have landed in New York's highest court, with the groups arguing that allowing the lawsuits to move forward would flood the state court with derivative lawsuits against foreign companies and overturn decades of precedent.

  • October 31, 2024

    Crypto Lobby Says Members Spent $426M Fighting SEC

    The Blockchain Association, a cryptocurrency lobby, said in a report released Thursday that its members reported incurring $426 million in legal costs so far defending actions from the U.S. Securities and Exchange Commission.

  • October 31, 2024

    Warren Says DOJ's 'Legal Gymnastics' Let TD Bank Off Easy

    U.S. Sen. Elizabeth Warren, D-Mass., pressed Attorney General Merrick Garland on Thursday over what she characterized as a lax settlement agreement for TD Bank earlier this month and the Justice Department's "legal gymnastics" that left top bank executives off the hook.

  • October 31, 2024

    Masimo Sues Ex-CEO Over 'Unprecedented' $450M Demand

    Masimo Corp. has sued its founder in Delaware Chancery Court, seeking a declaration that a $450 million payout triggered in part by the founder's loss of control or his ouster as CEO and chairman is unenforceable, saying the amount is "unprecedented" and shouldn't be paid by shareholders who were simply exercising their voting rights.

  • October 31, 2024

    A Boeing Space Exit, $3B Hot Dogs And More Deal Rumors

    Like the two astronauts currently stranded on the International Space Station, Boeing is reportedly looking to get out of space — by exiting its NASA business. In earthly news, foreign meat companies are reportedly eyeing popular hot dog brand Oscar Mayer at a price tag that could approach an arguably gluttonous $3 billion, and Blackstone could shell out five big ones — $5 billion, that is — for a cellphone infrastructure business. Here, Law360 breaks down these and other deal rumors from the past week.

  • October 31, 2024

    Web Designer Who Built IcomTech Ponzi Site Gets 8 Years

    A Manhattan federal judge on Thursday hit a California website designer with eight years in prison for his role in building online properties that made it look as if the $58 million IcomTech cryptocurrency Ponzi scheme was legitimate.

  • October 31, 2024

    SBA Cries Foul On Globetrotters' $10M COVID Grant Suit

    The U.S. Small Business Administration has defended its denial of a $10 million COVID-19 relief grant to the Harlem Globetrotters, telling a D.C. federal judge that it had no legal obligation to hand over the money to the basketball entertainment organization.

  • October 31, 2024

    Playboy Gets PE Investment After Rejecting Takeover Bid

    The owner of Playboy, PLBY Group Inc., on Thursday announced that it had secured a "significant" equity investment from privately held online entertainment company Byborg Enterprises SA.

  • October 31, 2024

    The 2024 Law360 Pulse Leaderboard

    Check out the Law360 Pulse Leaderboard to see which firms made the list of leaders in all-around excellence this year.

  • October 31, 2024

    Firms' Hiring Strategies Are Evolving In Fight For Top Spot

    Competition for top talent among elite law firms shows no signs of slowing down, even amid economic uncertainty, with financially strong firms deploying aggressive strategies to attract and retain skilled professionals to solidify their market position.

  • October 31, 2024

    MVP: MoFo's Justin Salon

    Justin Salon of Morrison Foerster LLP managed to secure a $5 billion initial public offering for client Arm Holdings PLC in late 2023 while aggressively expanding the capital markets practice that he chairs, earning him a spot among the 2024 Law360 Capital Markets MVPs.

  • October 30, 2024

    'Vague' Witness Sinks Green Materials Co. Investor Suit

    A California federal judge dismissed an investor suit Tuesday filed against a maker of sustainable materials alleging it failed to disclose a change in direction in its manufacturing plans and a delay in building a new plant, saying the suit relies heavily on statements of a confidential witness that are "fatally vague."

  • October 30, 2024

    CFTC's Mersinger Wants Cooperation, Self-Reporting Reforms

    The Commodity Futures Trading Commission should reform its process for crediting those who self-report, cooperate and remediate in connection to enforcement proceedings, one of the agency's commissioners said Wednesday.

  • October 30, 2024

    Binance Can't Force Canadian Class Action Into Arbitration

    A Canadian appeals court has affirmed that cryptocurrency exchange Binance cannot force a proposed class action accusing it of illegally trading and distributing securities into arbitration in Hong Kong, saying a lower court judge correctly found the arbitration clause to be unenforceable.

  • October 30, 2024

    Apparel Co.'s Crypto Allies Say SEC Suit Is Ripe For Court

    Cryptocurrency advocates have told a Texas federal judge that apparel company Beba and its crypto industry group backer have standing to preemptively sue the U.S. Securities and Exchange Commission, arguing that the regulator has created an impossible situation for crypto firms by bringing enforcement actions without setting clear rules for digital assets.

  • October 30, 2024

    Bernstein Litowitz, NYS Fund Rep CrowdStrike Investor Class

    Bernstein Litowitz Berger & Grossmann LLP will represent a putative class of CrowdStrike investors in litigation alleging the cybersecurity company mischaracterized the risk of seeing a major outage like the one it faced in July.

  • October 30, 2024

    Mortgage Co. Says Pension Fund Can't Jump In To Lead Suit

    Rocket Companies Inc. has told a Michigan federal judge to reject a renewed class certification bid in a shareholder suit accusing the mortgage business of concealing a downturn in loan volume, arguing that the pension fund trying to take over as lead plaintiff is inadequate to represent the proposed class, among other things.

Expert Analysis

  • Litigation Inspiration: Honoring Your Learned Profession

    Author Photo

    About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.

  • Payward And The Secondary Crypto Transaction Confusion

    Author Photo

    Following orders in cases against Coinbase and Binance, the recent California federal court ruling in U.S. Securities and Exchange Commission v. Payward raises even more questions about regulation of secondary transactions involving crypto-assets, as it tries to sidestep fundamental flaws in the SEC's legal theories, say attorneys at Cahill Gordon.

  • Opinion

    AI May Limit Key Learning Opportunities For Young Attorneys

    Author Photo

    The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.

  • What's In The Cards For CFTC's Election Betting Case

    Author Photo

    A D.C. federal judge's Sept. 12 ruling, allowing KalshiEx to offer derivative contracts trading on the outcome of the U.S. congressional elections over objections from the U.S. Commodity Futures Trading Commission, could mark a watershed moment in the permissibility of election betting if upheld on appeal, say attorneys at BakerHostetler.

  • Kubient Case Shows SEC's Willingness To Charge Directors

    Author Photo

    The U.S. Securities and Exchange Commission's recent fraud charges against Kubient's former CEO, chief financial officer and audit committee chair signal a willingness to be more aggressive against officers and directors, underscoring the need for companies to ensure that they have appropriate channels to gather, investigate and document employee concerns, say attorneys at Jenner & Block.

  • Basel Endgame Rules: A Change Is Coming

    Author Photo

    The Federal Reserve Board's recently announced recalibration of the Basel endgame proposal begins a critical chapter in the evolution of not only the safety and soundness of U.S. banks, but also of banks' abilities to lend and support American businesses and consumers, say attorneys at Davis Wright.

  • What PCOAB's Broadened Liability Rule Means For Auditors

    Author Photo

    The U.S. Securities and Exchange Commission’s recent vote agreeing to lower the Public Company Accounting Oversight Board's liability standard, allowing the board to charge individual auditors whose mere negligence leads firms into PCOAB violations, may erode inspection cooperation, shrink the talent pool and have anticompetitive outcomes, say attorneys at BakerHostetler.

  • Series

    Round-Canopy Parachuting Makes Me A Better Lawyer

    Author Photo

    Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.

  • Why Now Is The Time For Law Firms To Hire Lateral Partners

    Author Photo

    Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Considering Possible PR Risks Of Certain Legal Tactics

    Author Photo

    Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.

  • How Increased Sanctions Scrutiny Is Affecting Debt Markets

    Author Photo

    U.S. sanctions and export control regulators have recently taken several steps that broaden financial sector oversight, and banks, lenders and borrowers must adapt their syndication and risk assessment processes in different ways or risk incurring substantial penalties, say Cristina Brayton-Lewis and Kerrick Seay at White & Case.

  • What The SEC Liquidity Risk Management Amendments Entail

    Author Photo

    Fund managers should be cognizant of the U.S. Security and Exchange Commission's recent changes to certain reporting requirements and guidance related to open-end fund liquidity risk management programs, and update their filing systems if need be, says Rachael Schwartz at Sullivan & Worcester.

  • It's No Longer Enough For Firms To Be Trusted Advisers

    Author Photo

    Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.

  • 7 Takeaways For Investment Advisers From FinCEN AML Rule

    Author Photo

    With a new FinCEN rule that will require covered investment advisers to implement anti-money laundering programs and comply with extra recordkeeping requirements by 2026, companies should begin planning necessary updates to their policies and procedures by focusing on seven of the rule’s key requirements, identified by attorneys at Simpson Thacher.

  • Missouri Injunction A Setback For State Anti-ESG Rules

    Author Photo

    A Missouri federal court’s recent order enjoining the state’s anti-ESG rules comes amid actions by state legislatures to revise or invalidate similar legislation imposing disclosure and consent requirements around environmental, social and governance investing, and could be a blueprint for future challenges, say attorneys at Paul Hastings.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Capital Markets archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!