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Capital Markets
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September 17, 2025
Sky-High AI Valuations Are Reshaping Dealmaking Playbook
The latest financing for Anthropic underscores how difficult it has become to dismiss sky-high valuations backing AI as froth, and shows how such numbers could reshape acquisition and exit strategies while exposing investors to heightened legal and financial risks.
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September 17, 2025
NY Regulator Pushes Blockchain Analytics For Compliance
New York's Department of Financial Services on Wednesday emphasized that it expects banks under its purview to incorporate blockchain analytics tools as part of their compliance programs if they're engaging in crypto activities.
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September 17, 2025
Brexit Factors Blamed For UK's Sluggish IPO Flows
Brexit has deprived companies listed in London of an open gateway to European Union investors, forcing many startups to look elsewhere for an opportunity to raise capital, European advisers say — which has led to a prolonged slump of initial public offerings on the London Stock Exchange.
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September 17, 2025
Latham, Vinge Advise Verisure's €3.1B Stockholm Float
Swiss security company Verisure said Wednesday that it plans to raise €3.1 billion ($3.7 billion) during a planned initial public offering on the Nasdaq Stockholm in the latest sign of revival for the European listings pipeline.
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September 16, 2025
Feds Seek 12 Years For Frank Founder; She Wants No Prison
The startup founder convicted of lying to JPMorgan Chase so it would buy her college-aid startup, Frank, for $175 million deserves a 12-year prison sentence, Manhattan federal prosecutors argued, countering her request that she serve no time.
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September 16, 2025
Texas AG Says Glass Lewis Misled Investors With ESG Advice
The Texas Office of the Attorney General launched an investigation into Glass Lewis & Co. and Institutional Shareholder Services Inc., claiming Tuesday the proxy advisory firms misled public companies and institutional investors to push for left-wing social causes.
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September 16, 2025
Coinbase Asks DOJ To Push For Preemption In Crypto Bills
Crypto exchange Coinbase has asked the U.S. Department of Justice to advocate for limiting states' authority to regulate the digital asset space in pending crypto market structure legislation, as Coinbase itself continues to battle state actions and navigate disparate licensure regimes.
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September 16, 2025
Goldman, Morgan Stanley Beat Archegos Suit At 2nd Circ.
The Second Circuit on Tuesday upheld the dismissal of a lawsuit accusing Goldman Sachs and Morgan Stanley of profiting off insider knowledge that the investment firm Archegos Capital Management was about to collapse, ruling that the companies had no duty to withhold from trading on the information.
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September 16, 2025
Wells Fargo Brass Reach Settlement In 'Sham' Hiring Suit
Wells Fargo investors and executives have told a California federal judge they've reached a settlement in a derivative suit claiming the bank's leadership failed to address the company's discriminatory lending and hiring practices.
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September 16, 2025
Bitcoin Fog Operator Fights Conviction Over Venue, Evidence
The alleged operator of the Bitcoin Fog crypto mixer is urging the D.C. Circuit to overturn his conviction, claiming federal prosecutors failed to tie him to a crime in the district and relied on circumstantial forensic evidence to link him to money launderers' use of the anonymizing service.
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September 16, 2025
Latham, Cooley Lead Ticket Sales Giant StubHub's $800M IPO
StubHub, an online ticket reseller backed by private equity and venture capital firms, is set to hit the public markets Wednesday after pricing an $800 million initial public offering within its targeted range.
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September 16, 2025
Biz Groups Ask 9th Circ. To Block Calif. Climate Rules
A coalition of business groups asked the Ninth Circuit to halt two new California climate regulations requiring large companies to publicly disclose their greenhouse gas emissions and climate-related financial risks, while they appeal a lower court's refusal to preliminarily block the rules that they say violate their First Amendment rights.
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September 16, 2025
Avalara Investors' Claims Pass Muster After 9th Circ. Revival
A Washington federal judge has allowed a proposed class action to proceed accusing tax software company Avalara Inc. of misleading investors ahead of an $8.4 billion deal to take the company private, but said the suit failed to adequately allege negligence by individual board members, giving investors one week to amend those claims.
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September 16, 2025
Casino Giant Urges Fla. Court To Toss Bahamas Fraud Suit
U.S.-based casino operator Genting Americas Inc. has urged a Florida federal court to dismiss a lawsuit alleging that it used a resort in the Bahamas to obscure fraudulent activities, saying the suing real estate company failed to deliver a proper amended derivative complaint ordered by a judge.
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September 16, 2025
BlackRock Blames Coal Production Cuts On Falling Demand
BlackRock Inc. told a Texas federal court that coal production has declined because demand from coal-fired power plants has been falling for years, not because asset managers conspired to pressure the producers.
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September 16, 2025
Twitter Stock Maven Tells Jury He Was 'Addicted' To Trading
An Ohio salesman accused of securities fraud told a Manhattan federal jury Tuesday that he was hooked on trading penny stocks, after a rough morning of testimony during which a lawyer from the U.S. Securities and Exchange Commission forced him to admit his goal was to move share prices.
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September 16, 2025
AI Startup Boost Run To Go Public Via $614M SPAC Merger
Artificial intelligence cloud infrastructure and high performance compute provider Boost Run LLC on Tuesday announced plans to go public by merging with special purpose acquisition company Willow Lane Acquisition Corp. in a $614 million deal built by Ellenoff Grossman & Schole LLP and Winston & Strawn LLP.
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September 16, 2025
SEC Blasts Thrivent's Attempt To 'Upend' FINRA Oversight
The Securities and Exchange Commission is defending its refusal to amend three long-running arbitration rules adopted by the Financial Industry Regulatory Authority at the request of financial services organization Thrivent, urging the D.C. Circuit to reject the company's appellate petition and leave FINRA's arbitration rules as they are.
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September 15, 2025
Rent The Runway Gets Investor Suit Trimmed On 2nd Look
Designer dress rental company Rent the Runway convinced a New York federal judge to trim certain shareholder claims against it after the judge reconsidered an earlier ruling on a putative class action suit that alleges the company failed to inform investors about major challenges it was facing prior to its 2021 initial public offering.
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September 15, 2025
Ex-Voyager CEO To Pay $750K To Resolve CFTC Action
A New York federal judge signed off on a deal Monday that will have the former CEO of Voyager Digital pay $750,000 to resolve the U.S. Commodity Futures Trading Commission's claims he misled investors about the safety of the crypto lender prior to its collapse.
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September 15, 2025
Ex-Coinbase CLO, OCC Acting Chief Joins BitGo's Board
A former chief legal officer of digital asset exchange Coinbase Inc. and onetime acting head of the Office of the Comptroller of the Currency has joined the board of directors of cryptocurrency custodian BitGo Inc.
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September 15, 2025
Investor Says $16M Ouraring Fight Shouldn't Go To Finland
An early investor in the Oura health and fitness tracker is fighting Ouraring Inc.'s attempt to send his $16 million dispute to arbitration in Finland, saying there is no underlying agreement to arbitrate and his lawsuit should stay in California federal court.
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September 15, 2025
Sports Betting Co. Accuses CFTC Of Blocking Its Registration
Sports betting app Sleeper Markets LLC has accused the Commodity Futures Trading Commission of an "illegal delay" of its bid to become a registered futures commission merchant, calling on the agency's internal watchdog to investigate the status of its application and the "broader potential illegality this incident strongly suggests may be occurring."
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September 15, 2025
Senate Confirms Top Trump Economist To Federal Reserve
The U.S. Senate narrowly confirmed top White House economist Stephen Miran to the Federal Reserve Board on Monday, giving President Donald Trump a close ally at the central bank as he pushes for greater control over the traditionally independent body.
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September 15, 2025
Trump Once More Floats The End Of The Quarterly Report
President Donald Trump has again suggested that publicly traded companies be allowed to issue financial reports twice a year instead of quarterly, reigniting a debate that stalled during his prior term in office when the U.S. Securities and Exchange Commission did not pursue such rulemaking.
Expert Analysis
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Series
Adapting To Private Practice: From Va. AUSA To Mid-Law
Returning to the firm where I began my career after seven years as an assistant U.S. attorney in Virginia has been complex, nuanced and rewarding, and I’ve learned that the pursuit of justice remains the constant, even as the mindset and client change, says Kristin Johnson at Woods Rogers.
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Rebutting Price Impact In Securities Class Actions
Defendants litigating securities cases historically faced long odds in defeating class certification, but that paradigm has recently begun to shift, with recent cases ushering in a more searching analysis of price impact and changing the evidence courts can consider at the class certification stage, say attorneys at Katten.
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7 Document Review Concepts New Attorneys Need To Know
For new associates joining firms this fall, stepping into the world of e-discovery can feel like learning a new language, but understanding a handful of fundamentals — from coding layouts to metadata — can help attorneys become fluent in document review, says Ann Motl at Bowman and Brooke.
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Senate Bill Could Overhaul Digital Asset Market Structure
The Senate Banking Committee's draft Responsible Financial Innovation Act would not only clarify the roles and responsibilities of financial institutions engaging in digital asset activities but also impose new compliance regimes, reporting requirements and risk management protocols, say attorneys at Troutman.
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Opinion
Congress Must Resolve PSLRA Issue For Section 11 Litigants
By establishing a uniform judgment reduction credit for all defendants in cases involving Section 11 of the Securities Act, Congress could remove unnecessary statutory ambiguity from the Private Securities Litigation Reform Act and enable litigants to price potential settlements with greater certainty, say attorneys at Sidley.
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Stablecoin Committee Promotes Uniformity But May Fall Short
While the Genius Act's establishment of the Stablecoin Certification Review Committee will provide private stablecoin issuers with more consistent standards, fragmentation remains due to the disparate regulatory approaches taken by different states, say attorneys at Morgan Lewis.
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Agentic AI Puts A New Twist On Attorney Ethics Obligations
As lawyers increasingly use autonomous artificial intelligence agents, disciplinary authorities must decide whether attorney responsibility for an AI-caused legal ethics violation is personal or supervisory, and firms must enact strong policies regarding agentic AI use and supervision, says Grace Wynn at HWG.
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Parsing Trump Admin's First 6 Months Of SEC Enforcement
The U.S. Securities and Exchange Commission's enforcement results for the first six months of the Trump administration show substantially fewer new enforcement actions compared to the same period under the previous administration, but indicate a clear focus on traditional fraud schemes affecting retail investors, say attorneys at King & Spalding.
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Series
Being A Professional Wrestler Makes Me A Better Lawyer
Pursuing my childhood dream of being a professional wrestler has taught me important legal career lessons about communication, adaptability, oral advocacy and professionalism, says Christopher Freiberg at Midwest Disability.
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How FDIC Appeals Plan Squares With Fed, OCC Processes
The Federal Deposit Insurance Corp.'s recent proposal to revise its appeals process merits a fresh comparison to the appeals systems of the Federal Reserve and Office of the Comptroller of the Currency, and would provide institutions with greater transparency and independence, say attorneys at Alston & Bird.
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SEC Rulemaking Radar: The Debut Of Atkins' 'New Day'
The U.S. Securities and Exchange Commission's regulatory flex agenda, published last week, demonstrates a clear return to appropriately tailored and mission-focused rulemaking, with potential new rules applicable to brokers, exchanges and trading, among others, say attorneys at Goodwin.
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Series
Law School's Missed Lessons: Adapting To The Age Of AI
Though law school may not have specifically taught us how to use generative artificial intelligence to help with our daily legal tasks, it did provide us the mental building blocks necessary for adapting to this new technology — and the judgment to discern what shouldn’t be automated, says Pamela Dorian at Cozen O'Connor.
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Ch. 11 Ruling Voiding $2M Litigation Funding Sends A Warning
A recent Texas bankruptcy court decision that a postconfirmation litigation trust has no obligations to repay a completely drawn down $2 million litigation funding agreement serves as a warning for estate administrators and funders to properly disclose the intended financing, say attorneys at Kleinberg Kaplan.
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What To Expect As Trump's 401(k) Order Materializes
Following the Trump administration’s recent executive order on 401(k) plan investments in alternative assets like cryptocurrencies and real estate, the U.S. Department of Labor and the U.S. Securities and Exchange Commission will need to answer several outstanding questions before any regulatory changes are implemented, say attorneys at Cleary.
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Demystifying The Civil Procedure Rules Amendment Process
Every year, an advisory committee receives dozens of proposals to amend the Federal Rules of Civil Procedure, most of which are never adopted — but a few pointers can help maximize the likelihood that an amendment will be adopted, says Josh Gardner at DLA Piper.