Try our Advanced Search for more refined results
Capital Markets
-
October 10, 2024
BREAKING: TD Bank To Pay $3B, Face Asset Cap Over AML Failures
TD Bank will pay about $3 billion to U.S. authorities and face growth restrictions on its U.S. operations as part of criminal and civil settlements announced Thursday over serious alleged anti-money laundering violations at the Canadian bank.
-
October 10, 2024
Brazilian Firm Cites Market Conditions In Delaying US IPO
Private equity-backed lubricants maker Moove Lubricants Holdings is hitting pause on initial public offering plans because of "adverse market conditions," according to a Wednesday securities filing from its parent company.
-
October 10, 2024
Quinn Emanuel Adds Of Counsel Atty, 6 Associates In Miami
Quinn Emanuel Urquhart & Sullivan LLP's 3-year old Miami office has just surpassed the 20-lawyer mark with the addition of seven attorneys in the past two months.
-
October 09, 2024
Top Bank Lobbyist Touts Basel Endgame, CFPB Court Wins
The head of the nation's largest banking industry trade group took a victory lap on Wednesday for beating back steep proposed bank capital hikes and halting other recent Biden administration banking regulations in court, pledging to continue its muscular advocacy for banks as the election nears.
-
October 09, 2024
Shkreli Hasn't Obeyed Wu-Tang Album Order, Crypto Co. Says
The crypto project suing Martin Shkreli for allegedly harming the value of a one-of-a-kind Wu-Tang Clan album on Wednesday once again told a New York federal judge that the notorious pharmaceutical executive hasn't complied with an order directing him to account for all copies of the album he may have made.
-
October 09, 2024
Team Of 3 Firms Seeks To Lead UBS Cash Sweep Case
Two UBS customers suing the investment bank on allegations of shortchanging them with low-yielding cash sweep accounts moved Tuesday to consolidate their proposed class actions in New York federal court and install three firms at the helm.
-
October 09, 2024
Feds Target Crypto Manipulation, Wash Trades In Novel Action
Massachusetts federal prosecutors announced charges against 18 individuals and cryptocurrency firms on Wednesday in a first-of-its-kind set of actions targeting alleged manipulation of digital asset markets through wash trading and other tactics.
-
October 09, 2024
Hedge Fund Agrees To Drop Spoofing Claims Against TD Bank
Broker-dealer affiliates of TD Bank will no longer face a hedge fund's claims that they manipulated markets by placing trade orders they never intended to fulfill, the parties told a Manhattan federal judge.
-
October 09, 2024
Gensler Mum On Future As AI, Crypto Rules Await Action
U.S. Securities and Exchange Commission Chair Gary Gensler declined to comment Wednesday on his or the agency's future should former U.S. President Donald Trump win a second term in office this November, even as questions remain about the post-election future of proposed regulations, like those that would safeguard crypto assets and crack down on the use of predictive data analytics.
-
October 09, 2024
Spanish Baker Europastry Delays But Won't Give Up On IPO
Family-owned frozen bakery products giant Europastry S.A. has iced plans for an initial public offering, four months after unveiling plans to raise €225 million ($246 million) on Spanish stock exchanges.
-
October 09, 2024
FTX Exec Wants Another Prison Date Delay Over Dog Attack
Former FTX executive Ryan Salame has again asked the court to delay his surrender date to begin his prison term from this Friday to Dec. 7, as he purportedly continues to undergo medical treatment and recover after being mauled by a German shepherd while visiting a friend's house in June.
-
October 09, 2024
Duane Morris Adds Corporate, Banking Partner In New York
Duane Morris LLP has brought on a former Stinson LLP partner for its corporate practice group in New York, the firm said Wednesday.
-
October 09, 2024
Vinson-Led MCB Sweetens Bid For Whitestone REIT
MCB Real Estate, guided by Vinson & Elkins LLP, upped its all-cash acquisition proposal for Whitestone REIT by offering to buy it for $15 per share, the investment firm announced.
-
October 09, 2024
Disbarred Atty Admits To Defrauding Investors, DOJ Says
A disbarred attorney has pled guilty in connection with a financial services scheme that defrauded investors out of more than $1 million, New Jersey's U.S. attorney announced Wednesday.
-
October 09, 2024
Disbarred Calif. Atty To Pay $14M Over Crypto Ponzi Scheme
A disbarred California attorney has been ordered by a Nevada federal judge to pay nearly $14 million in restitution for his role in promoting a $9.5 million cryptocurrency Ponzi scheme.
-
October 09, 2024
Ropes & Gray Leads PE-Backed KinderCare's $576M IPO
Private equity-backed early childhood education provider KinderCare rose in debut trading Wednesday after pricing a $576 million initial public offering within its range, represented by Ropes & Gray and underwriters' counsel Kirkland, igniting a busy week for new listings that could include up to five IPOs.
-
October 09, 2024
Feds Seek 16 Months For Ex-BigLaw Partner's Tax Dodging
Prosecutors told a Wisconsin federal judge that a former Husch Blackwell LLP and Dykema Gossett PLLC partner who pled guilty to tax evasion should be sentenced to 16 months in prison, saying he lied to IRS revenue officers to keep them at bay while spending lavishly on private planes, jewelry and golf club memberships.
-
October 08, 2024
Genting Unit Used Bahamas Resort To Hide Fraud, Suit Says
A Bahamanian real estate development company on Monday sued a U.S. company organized under destination resorts and casino giant Genting Group, saying in a Florida federal complaint that the Genting company used a resorts in the Bahamas as a "financial wasteland" that obscured fraudulent activities.
-
October 08, 2024
Texas Looks To Sink Suit Challenging Anti-ESG Law
Texas officials have asked a federal court to toss claims brought against them over a law restricting state investments with financial firms and businesses that want to reduce their reliance on fossil fuels, arguing they have sovereign immunity and the law doesn't violate the First Amendment.
-
October 08, 2024
SEC Texting Sweep: Message Received, Guidance Needed
After financial firms have paid billions of dollars in recordkeeping fines around employees' use of off-channel communications, recent criticism of the U.S. Securities and Exchange Commission's approach by its Republican members has drawn support from attorneys who worry the agency is pushing for an impossible standard of perfect compliance.
-
October 08, 2024
OneCoin Co-Conspirator Wants No Prison For Laundering Plea
A business consultant and investor who pled guilty to laundering approximately $35 million as part of the global OneCoin cryptocurrency scam has asked a New York federal judge for a probationary sentence and a minimal fine, arguing that he had a minor role in the scheme compared to other defendants and has lived an otherwise law-abiding life.
-
October 08, 2024
FTX's Ellison To Give Up 'Substantially All Of Her Assets'
Former FTX insider Caroline Ellison agreed to give up "substantially all of her assets" and cooperate with the FTX bankruptcy estate in a deal to resolve the claims against her in an adversary proceeding that sought to recover hundreds of millions of dollars from the collapsed crypto exchange's former leadership.
-
October 08, 2024
Aluminum Recycler Novelis Scraps IPO, Citing Market Woes
Aluminum recycling giant Novelis Inc. on Tuesday withdrew filing documents for an initial public offering, citing market conditions and formally scrapping a proposed listing nearly five months after it delayed plans to raise almost $900 million.
-
October 08, 2024
SEC Approves Nasdaq Plan To Accelerate Delistings
The U.S. Securities and Exchange Commission has approved a Nasdaq rule change that would enable the stock exchange to accelerate removals of struggling companies that try to delay delistings through the use of reverse stock splits.
-
October 08, 2024
Crypto.com Sues SEC Over 'Unlawful' Crypto Approach
Crypto.com became the latest crypto exchange to push back on a potential enforcement case from the U.S. Securities and Exchange Commission on Tuesday when it sued the regulator after allegedly receiving a notice that the agency believes it operates as an unregistered broker-dealer and clearing agency.
Expert Analysis
-
8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.
-
Recent Securities Cases Highlight Risks In AI Disclosures
Increasing public disclosure about the use and risks of artificial intelligence, and related litigation asserting that such disclosures are false or misleading, suggest that issuers need to exercise great care with respect to how they describe the benefits of AI, say Richard Zelichov and Danny Tobey at DLA Piper.
-
Opinion
This Election, We Need To Talk About Court Process
In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.
-
Breaking Down CFTC's Novel Theory Driving Uniswap Action
The U.S. Commodity Futures Trading Commission's recent enforcement action against Uniswap concerning digital asset liquidity appears to be a unilateral attempt to expand its regulatory authority in the absence of official congressional approval, putting forth a novel theory of liability that will likely be tested through litigation, say attorneys at Troutman Pepper.
-
Series
Playing Diplomacy Makes Us Better Lawyers
Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.
-
Applying High Court's Domestic Corruption Rulings To FCPA
After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.
-
Mental Health First Aid: A Brief Primer For Attorneys
Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.
-
Series
Calif. Banking Brief: All The Notable Legal Updates In Q3
In the third quarter of the year, California continued to be at the forefront of banking regulation as it enacted legislation on unfair banking practices and junk fees, and the state Department of Financial Protection and Innovation notably initiated enforcement actions focused on crypto-assets and student loan debt relief, say Stuart Richter and Eric Hail at Katten.
-
2 High Court Securities Cases Could Clarify Pleading Rules
In granting certiorari in a pair of securities fraud cases against Facebook and Nvidia, respectively, the U.S. Supreme Court has signaled its intention to align interpretations of the heightened pleading standard under the Private Securities Litigation Reform Act amid its uneven application among the circuit courts, say attorneys at V&E.
-
Series
Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
-
Series
A Day In The In-House Life: Best Egg CLO Talks Power Of Prep
On a typical Monday in her life, Best Egg Chief Legal Officer Amy Thoreson Long chronicles a remote workday in which she makes time for everything from getting ahead on regulatory issues and researching recent Supreme Court decisions to dog walks and podcast breaks.
-
Takeaways From TOTSA Settlement And Critical CFTC Dissent
The U.S. Commodity Futures Trading Commission's recent settlement with TOTSA highlights the agency's commitment to enforcing market integrity and deterring manipulative practices, while Commissioner Caroline Pham's dissent to the settlement spotlights the need for transparency and consistency in enforcement actions, say attorneys at Davis Wright.
-
Litigation Inspiration: Honoring Your Learned Profession
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
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
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.