Capital Markets

  • April 18, 2024

    Crowell & Moring Adds Corporate Partners From Neal Gerber

    Crowell & Moring LLP has added two longtime partners and practice group leaders from Chicago-based firm Neal Gerber & Eisenberg LLP to help bolster its corporate, mergers and acquisitions and capital markets services and expand its services in the Windy City.

  • April 17, 2024

    SEC Urged To Rethink Whistleblower Awards To Short-Sellers

    A University of Kansas law professor has released research showing that a growing number of corporate outsiders, including short-sellers, are receiving whistleblower rewards from the U.S. Securities and Exchange Commission, and he told Law360 on Wednesday the agency should reconsider giving money to those who also seek to profit from trading on the tips they call in. 

  • April 17, 2024

    Wilson Sonsini-Led Digital Marketer Ibotta Inks Upsized IPO

    Walmart-backed digital marketing platform Ibotta Inc. on Wednesday priced an upsized, $577.3 million initial public offering above its range, represented by Wilson Sonsini Goodrich & Rosati PC and underwriters' counsel Willkie Farr & Gallagher LLP.

  • April 17, 2024

    RTX Investor Sues Brass In Del. For Better Antitrust Oversight

    A shareholder of RTX has sued the aerospace and defense giant's current and former officers and directors in Delaware's Court of Chancery, accusing them of failing over a period of at least eight years to prevent antitrust violations in the company's hiring practices.

  • April 17, 2024

    Karuna Investor Ends Suit After Bristol-Myers Seals $14B Deal

    A Karuna Therapeutics shareholder has dropped her proposed class action after Bristol-Myers Squibb Co. completed its $14 billion purchase of the biotechology company, a deal the suit alleged was brought about by misrepresentations to investors to gain their support.

  • April 17, 2024

    New Stablecoin Bill Eyes Investor Protections, AML Regime

    Sens. Cynthia Lummis, R.-Wyo., and Kirsten Gillibrand, D.-N.Y., have unveiled their long-awaited proposal to regulate stablecoins, which would require issuers to hold full reserves, ban algorithmic stablecoins and define the authority that state and federal banking regulators will have over the tokens.

  • April 17, 2024

    MoFo Advises Southwest Gas Carve-Out Centuri's $260M IPO

    Southwest Gas Holdings Inc.'s infrastructure services unit Centuri Holdings Inc. on Wednesday priced a $260.4 million initial public offering at the top of its range, enabling Centuri to become a standalone public company, represented by Morrison Foerster LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

  • April 17, 2024

    Coding Bootcamp Fined $164K For Misleading Student Loans

    A company that runs coding "bootcamps" has been permanently banned from consumer lending after U.S. regulators found it inflated its job placement rates to students and lied to them about a tuition financing program that turned out to be risky loans.

  • April 17, 2024

    SEC Has Careful Eye On Disclosures Amid Israel-Hamas War

    Against the backdrop of protracted war, the U.S. securities watchdog is urging U.S.-listed Israeli companies to disclose more details describing how the Israel-Hamas conflict is affecting their operations in order to keep investors apprised of risks, lawyers say.

  • April 17, 2024

    Trader's Alleged $110M Mango Markets Fraud In Jury's Hands

    A Manhattan federal jury weighed charges Wednesday against a cryptocurrency trader accused of illegally squeezing $110 million out of Mango Markets by inflating the finance platform's tokens, then borrowing against them, allegedly taking "supply and demand into his own hands."

  • April 17, 2024

    Bankman-Fried Appeal May Cite Unusual Preview Testimony

    Sam Bankman-Fried's appeal of his conviction and 25-year prison sentence may cite a "rather unprecedented" trial procedure in which the FTX founder gave provisional testimony before officially taking the witness stand last year, one of his attorneys said Wednesday.

  • April 17, 2024

    Panel Agrees Pot Investor's Deal In 2017 Suit Nixes 2019 Suit

    A Washington state appeals court has thrown out an investor's suit alleging that a cannabis venture failed to follow through on a deal to acquire ownership interest in exchange for a $650,000 investment, finding his settlement of a prior suit block his claims.

  • April 17, 2024

    PE-Backed Aerospace Parts Company Primes $275M IPO

    Aerospace components maker Loar Holdings Inc. on Wednesday launched plans to raise an estimated $275 million in an initial public offering that will result in it becoming a public company traded on the New York Stock Exchange.

  • April 17, 2024

    Loeb & Loeb Adds 2 Corporate Partners From Morrison Cohen

    Loeb & Loeb LLP has announced the latest in a string of corporate hires from Morrison Cohen LLP's ranks, touting two new partners with domestic and international experience with strategic transactions.

  • April 16, 2024

    Crypto Co. Can't Be Sued Over 'Scam Token,' 2nd Circ. Hears

    The business, founder and venture capital backers behind decentralized cryptocurrency exchange Uniswap Labs told the Second Circuit that a New York federal judge was right to dismiss a suit from investors who claimed they bought scam tokens on the platform since the business didn't enter into any contract with buyers.

  • April 16, 2024

    Israeli Ad Tech Co. Overhyped Microsoft Ties, Investor Claims

    Ad tech company Perion Network and some of its current and former executives face a proposed class action alleging its investors were damaged after its strategic partner Microsoft Bing "unilaterally" changed its search advertising pricing.

  • April 16, 2024

    Businessman Urges Calif. Court To Refuse $4.4M Award

    A businessman who signed agreements with a Chinese energy management company on behalf of two different investment funds has told a California federal court that he never received proper notice about an arbitration that resulted in a $4.4 million award against him.

  • April 16, 2024

    Wis. Bank Must Face Bias Claims In Tribal Peyote Case

    A Wisconsin federal judge ruled Tuesday that a local bank cannot avoid discrimination claims in a suit that accuses it of denying service to Indigenous company Medicine Fireplace, whose members use the psychoactive peyote plant in their religious ceremonies.

  • April 16, 2024

    SEC Hit With Class Action Over Database Privacy Concerns

    A conservative think tank filed a lawsuit in Texas federal court Tuesday hoping to put an end to a U.S. Securities and Exchange Commission market surveillance tool known as the consolidated audit trail, arguing in the proposed class action that the database threatens to subject the personal information of tens of millions of American citizens to a possible data breach.

  • April 16, 2024

    Genesis To Return $2B Of Crypto Under Gemini Settlement

    Bankrupt crypto lender Genesis will return 97% of digital assets from a customer program with crypto platform Gemini by early May after a New York bankruptcy judge on Tuesday approved a settlement that attorneys for Genesis said closes out bitter disputes and sets it up to repay other creditors under a Chapter 11 plan.

  • April 16, 2024

    SEC Gets Partial Win In Muni Adviser Disclosure-Rule Suit

    A California federal judge has awarded a partial win to the U.S. Securities and Exchange Commission in its suit alleging a municipal adviser and one of its principals engaged in unlawful advisory activities with four charter school clients, saying "undisputed evidence" shows the defendants acted as advisers without the proper registrations, among other things.

  • April 16, 2024

    Barnes & Noble Education Reaches Deals To Reduce Debt

    Paul Hastings LLP-advised Barnes & Noble Education Inc., which provides solutions for the education industry, on Tuesday announced that it has entered into various agreements meant to significantly strengthen its long-term financial position and reduce its debt, allowing the company to continue investing in education innovation.

  • April 16, 2024

    Binance.US Adds Ex-NY Fed Compliance Chief To Board

    Binance.US announced Tuesday that it had brought aboard a seasoned compliance and regulation expert to join its board of directors, three months after the cryptocurrency platform hired a new top compliance officer amid federal regulators' ongoing scrutiny of the platform.

  • April 16, 2024

    Winston & Strawn Corporate Attorney Joins McGuireWoods

    McGuireWoods LLP has added a corporate lawyer from Winston & Strawn LLP as a partner in its securities and capital markets team in Charlotte, North Carolina, the firm said Tuesday.

  • April 16, 2024

    Latham Adds 2 Simpson Thacher Attys To Its NY Office

    Latham & Watkins LLP has added two attorneys from Simpson Thacher & Bartlett LLP for its New York office, one of whom joins as co-chair of its global hybrid capital practice.

Expert Analysis

  • Private Capital Considerations Amid Market Revival

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    As improved market conditions position traditional financing to regain lost market share, it's also worth considering the pace and structure of private credit and other forms of private capital, especially when seeking to set unique terms or build new corporate relationships, say attorneys at Skadden.

  • Intent-Based Theory Of Liability In Hwang Creates Ambiguity

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    A case against Archegos Capital founder Bill Hwang alleging that he participated in a securities manipulation scheme, which goes to trial next month in New York federal court, highlights the need for courts to clarify the legal standard defining "market manipulation," says Edward Imperatore at MoFo.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • A Look At Recent Challenges To SEC's Settlement 'Gag Rule'

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    Though they have been unsuccessful so far, opponents of the U.S. Securities and Exchange Commission's so-called gag rule, which prevents defendants from denying allegations when settling with the SEC, are becoming increasingly vocal and filing more challenges in recent years, say Mike Blankenship and Regina Maze at Winston & Strawn.

  • Flexibility Is Key In Hybrid Capital Investment Strategies

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    Flexible or hybrid capital funds have become a solution for some owners adverse to private debt or requiring short-term capital support not otherwise available in the market, but the complexity and possible range of structures available means that principals need to consider how they may work in different scenarios and outcomes, says Daniel Mathias at Cohen Gresser.

  • How American Airlines ESG Case Could Alter ERISA Liability

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    Spence v. American Airlines, a Texas federal case over the airline's selection of multiple investment funds in its retirement plan, threatens to upend the Employee Retirement Income Security Act's legal framework for fiduciary liability in the name of curtailing environmental, social and governance-related activities, say attorneys at Mayer Brown.

  • Defense Attys Must Prep For Imminent AI Crime Enforcement

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    Given recent statements by U.S. Department of Justice officials, white collar practitioners should expect to encounter artificial intelligence in federal criminal enforcement in the near term, even in pending cases, say Jarrod Schaeffer and Scott Glicksman at Abell Eskew.

  • Tipsters May Be Key To Financial Regulators' ESG Efforts

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    The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission are looking to whistleblowers to assist their climate and ESG task forces, suggesting insider information could be central to the agencies' enforcement efforts against corporate greenwashing, false investment claims and climate disclosure violations, says John Crutchlow at Youman & Caputo.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Opinion

    The SEC Is Engaging In Regulation By Destruction

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    The U.S. Securities and Exchange Commission's recent use of regulation by enforcement against digital assets indicates it's more interested in causing harm to crypto companies than providing guidance to the markets or protecting investors, says J.W. Verret at George Mason University.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • A 5th Circ. Lesson On Preserving Indemnification Rights

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    The Fifth Circuit's recent decision in Raymond James & Associates v. Jalbert offers an important lesson for creditors and parties to indemnification agreements: If a debtor has indemnified a creditor, the creditor should consider participating in the bankruptcy case to avoid being deemed to have forfeited its indemnification rights, say Dania Slim and Alana Lyman at Pillsbury.

  • ShapeShift Fine Epitomizes SEC's Crypto Policy, And Its Flaws

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    A recent U.S. Securities and Exchange Commission order imposing a fine on former cryptocurrency exchange ShapeShift for failing to register as a securities dealer showcases the SEC's regulation-by-enforcement approach, but the dissent by two commissioners raises valid concerns that the agency's embrace of ambiguity over clarity risks hampering the growth of the crypto economy, says Keith Blackman at Bracewell.

  • 2nd Circ. Adviser Liability Ruling May Shape SEC Enforcement

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    The Second Circuit’s recent decision in U.S. Securities and Exchange Commission v. Rashid, applying basic negligence principles to reverse a finding of investment adviser liability, provides a road map for future fraud enforcement proceedings, says Elisha Kobre at Bradley Arant.

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