Capital Markets

  • January 17, 2025

    Law360 Names Firms Of The Year

    Eight law firms have earned spots as Law360's Firms of the Year, with 54 Practice Group of the Year awards among them, steering some of the largest deals of 2024 and securing high-profile litigation wins, including at the U.S. Supreme Court.

  • January 17, 2025

    FDIC Missed Some Crypto 'Pause' Letters, Coinbase Ally Says

    The research consultancy suing the Federal Deposit Insurance Corp. on behalf of Coinbase for documents on the regulator's internal views on crypto said Friday that it intends to update its complaint with new allegations that the FDIC did not conduct a thorough search and may be engaging in unlawful practices, based on purported whistleblower reports.

  • January 17, 2025

    DC Circ. Unsure On Restoring CFTC's Election Betting Ban

    The D.C. Circuit seemed hesitant Friday to reimpose a ban that the U.S. Commodity Futures Trading Commission had placed on gambling over the fate of U.S. elections, as the judges spent over an hour trying to parse what Congress meant when it said that gaming on derivatives platforms was prohibited.

  • January 17, 2025

    Video Game Maker To Pay $20M For Child Privacy Violations

    The maker of the video game "Genshin Impact" has agreed to pay $20 million and block children under 16 from making in-game purchases without parental permission to resolve the Federal Trade Commission's claims that the company misled children and other users about the actual costs of purchases and illegally collected children's personal information.

  • January 17, 2025

    Venezuela Says $2B In Bonds Can't Be Enforced

    More than five years into litigation aimed at enforcing nearly $2 billion in defaulted bonds against Venezuela's state-owned oil company, the country is urging a New York federal judge to nix the case on the grounds that the bonds are illegal under its domestic law.

  • January 17, 2025

    Crypto Coder Sues Feds To Block 'Money Transmitter' Label

    Crypto policy think tank Coin Center is supporting one of its fellows in suing the federal government over its allegedly "mistaken view" of how criminal money transmission statutes apply to crypto software.

  • January 17, 2025

    Michigan Justices Won't Answer Securities Test Issue

    The Michigan Supreme Court on Friday denied an appeal from a developer asking justices to find a state law test rather than a federal one should be used to determine if a promissory note is a security, leaving in place a ruling that keeps the developer liable for notes issued in a $6 million project. 

  • January 17, 2025

    SEC Says Food Tech Startup Overstated Revenue By $550M

    The U.S. Securities and Exchange Commission on Friday fined venture-backed food technology startup GrubMarket $8 million for allegedly misleading investors by overstating revenue by more than $550 million, with faulty accounting that regulators say the company should have known was unreliable.

  • January 17, 2025

    Sidley-Led Hennessy Capital's 7th SPAC Raises $175M

    Blank-check company Hennessy Capital Investment Corp. VII began trading publicly on Friday after raising $175 million in its initial public offering, which will be used to merge with a company in the industrial technology or energy transition sectors.

  • January 17, 2025

    Nasdaq Pulls Board Diversity Rules After 5th Circ. Loss

    Nasdaq has moved to formally undo its rules requiring that companies listed on the exchange disclose board diversity data, following a narrow, en banc ruling from the Fifth Circuit last month finding that the rules ran afoul of federal securities law.

  • January 17, 2025

    Drink Maker Celsius Settles SEC's Accounting Claims For $3M

    The U.S. Securities and Exchange Commission on Friday fined beverage company Celsius Holdings Inc. $3 million to settle claims that it issued financial statements that were materially inaccurate and misleading due to misreported stock award information.

  • January 17, 2025

    NYC Mall Lenders, Developer Want Foreign Investor Suit Nixed

    Financial backers of a Staten Island mall project are asking a federal judge to toss a suit by foreign investors seeking damages, arguing that the investors are just trying to "claw back" whatever they can from others who lost even more money.

  • January 17, 2025

    SEC Fines Crypto Giant DCG, Ex-Genesis CEO $38.5M

    Crypto venture capital firm Digital Currency Group and the ex-CEO of its bankrupt lending subsidiary Genesis Global Capital LLC agreed to a combined $38.5 million civil penalty Friday to settle claims they misled investors about Genesis' financial condition ahead of its collapse.

  • January 17, 2025

    FDIC Sues Ex-SVB Top Brass For 'Egregious Mismanagement'

    The Federal Deposit Insurance Corp. has sued Silicon Valley Bank's former CEO Gregory Becker and other top brass in California federal court in a bid to put them on the hook for the bank's costly 2023 failure, accusing them of "egregious mismanagement."

  • January 17, 2025

    SEC Fines Unregistered Broker $3M Over Pre-IPO Work

    The U.S. Securities and Exchange Commission on Friday fined an unregistered broker $3 million to resolve charges for illegally brokering transactions related to the stock of private companies that were expected to conduct initial public offerings.

  • January 17, 2025

    PE-Backed M&A Values, Megadeals Surged In 2024

    Private equity-backed merger and acquisition values jumped nearly 25% year-over-year in 2024, while PE-backed megadeals valued above $5 billion more than doubled, according to S&P Global Market Intelligence.

  • January 17, 2025

    5 Firms Build 180 Degree Capital, Mount Logan Merger

    Investment management company 180 Degree Capital Inc. and alternative asset management and solutions business Mount Logan Capital Inc. on Friday announced plans to merge in an all-stock transaction built by five law firms with an estimated pro forma enterprise value of $139 million.

  • January 16, 2025

    Two Sigma Fined $90M Over Investment, Whistleblower Issues

    New York-based Two Sigma has agreed to pay $90 million in fines and has already refunded $165 million to various funds and accounts to put to rest the U.S. Securities and Exchange Commission's allegations it failed to deal with known issues with its investment models, the SEC announced Thursday.

  • January 16, 2025

    SEC's General Counsel Barbero To Exit As Trump Takes Office

    The U.S. Securities and Exchange Commission announced Thursday that General Counsel Megan Barbero will depart the agency on the day of President-elect Donald Trump's inauguration, capping a nearly two-year run that saw the agency face setbacks to its regulatory powers before conservative courts, but also notch some important wins.

  • January 16, 2025

    Crypto Firm DRW Wants Out Of SEC's 'Scorched Earth' Suit

    The crypto-trading arm of DRW Holdings says it has become the latest target of the U.S. Securities and Exchange Commission's "scorched-earth enforcement campaign against the crypto-asset industry" in its bid to dismiss a suit alleging it engaged in more than $2 billion in unregistered crypto transactions.

  • January 16, 2025

    SEC Hit With Atty Fee Request Over Rare In-House Loss

    A Michigan-based company that convinced the U.S. Securities and Exchange Commission to retroactively lift a trading suspension is now arguing that the agency should have to pay the company's attorneys because enforcement staff "lied and misled" in order to obtain the suspension.

  • January 16, 2025

    Cleveland-Cliffs Sets Sights On US Steel, And More Rumors

    Cleveland-Cliffs has re-emerged as a potential suitor to purchase U.S. Steel after President Joe Biden blocked Nippon's planned purchase, TikTok could be sold to Elon Musk, and Prada is among potential suitors eyeing Versace. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • January 16, 2025

    Morrison Foerster Adds Tax Group Co-Chair From Jones Day

    Morrison Foerster LLP announced it has added a partner from Jones Day to serve as co-chair of the firm's global tax group in its New York office.

  • January 16, 2025

    Paxton-Tied Developer Pleads Guilty In Bank Fraud Case

    A real estate developer whose ties to Texas Attorney General Ken Paxton were central to his 2023 impeachment case pled guilty Wednesday to unrelated charges of making false statements to a mortgage lender.

  • January 16, 2025

    DOL Proposes Rule On Valuing Stock For Purchase By ESOPs

    The U.S. Department of Labor proposed a rule Thursday to help plan managers determine the value of company stock for purchase by an employee stock ownership plan while also withdrawing a previous rule that the DOL proposed in 1988 but never finalized.

Expert Analysis

  • Why Attorneys Should Consider Community Leadership Roles

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    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • 'Pig Butchering': The Scam That Exploits Crypto Confusion

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    Certain red flags can tip off banks to possible "pig-butchering," and with the scam's increasing popularity, financial institutions need to take action to monitor entry points into the crypto space, detect suspicious activity and provide a necessary backstop to protect customers, say Brandon Essig and Mary Parrish McCracken at Lightfoot Franklin.

  • 9 Liability Management Tips As Debt Maturity Cliff Looms

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    As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

  • How Transaction Lookbacks Can Guide Fintech Companies

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    As transaction lookbacks continue to be a key focus of enforcement actions, newer financial institutions like fintech companies should know they can benefit from proactively investigating their potential failure to identify suspicious activity, creating a compliance road map and building trust with regulators in the process, say attorneys at Jenner & Block.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • Series

    A Day In The In-House Life: Narmi GC Talks Peak Productivity

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    On a work-from-home day in August, Narmi general counsel Amy Pardee chronicles a typical day in her life in which she organizes her time to tackle everything from advising on products and contract negotiations to volunteering and catching up on the New York Times crossword.

  • How Ripple Final Judgment Fits In Broader Crypto Landscape

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    The Southern District of New York's recent $125 million civil penalty levied in U.S. Securities and Exchange Commission v. Ripple will have a broad impact on the crypto industry as it was the first to hold that blind sales of digital assets are not securities, even if deemed securities in other circumstances, say attorneys at BakerHostetler.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

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    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

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    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

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    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • 6 Considerations To Determine If A Cyber Incident Is Material

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    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

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