Capital Markets

  • August 19, 2024

    Chancery Resets Del. Hearing In Masimo-Politan Proxy Battle

    Pointing to "very significant stockholder franchise issues at play" and a dwindling Masimo Corp. stockholder vote countdown, a Delaware vice chancellor on Monday scheduled a Sept. 13 hearing on Politan Capital Management LP challenges to Masimo's actions in the run-up to the contested Sept. 19 vote.

  • August 19, 2024

    Crypto Owners Sue Binance Over Allegedly Lax Theft Controls

    Three cryptocurrency owners claimed Friday that Binance and founder Changpeng Zhao enabled hackers and thieves to use the exchange to launder millions of dollars stolen from their accounts, activity they say hasn't stopped after the company's blockbluster guilty plea. 

  • August 19, 2024

    AI Platform AMC Corp. To Go Public Via $175M SPAC Merger

    Blank check company AlphaVest Acquisition Corp., advised by Winston & Strawn LLP, on Monday unveiled plans to merge with and take public native computer-vision artificial intelligence platform AMC Corp., led by Graubard Miller, in a $175 million deal.

  • August 19, 2024

    Crypto Co. Consensys Says Texas Is Right For SEC Fight

    Crypto software firm Consensys Software Inc. told a Texas federal judge that it beat the U.S. Securities and Exchange Commission to court when it filed a suit seeking a judgment that its MetaMask software does not offend securities laws, and the regulator cannot now "change the playing field" to New York with its later enforcement suit.

  • August 19, 2024

    Atty Faces Contempt Bid In Fla. Forex Trading Firm Case

    The court-appointed receiver of an investment company at the center of a U.S. Commodity Futures Trading Commission lawsuit over the firm's $75 million foreign currency trading fraud has asked for the company's now-imprisoned CEO's appeals attorney to be held in contempt of court for allegedly failing to comply with a subpoena.

  • August 19, 2024

    A&O Shearman Hires Ex-Morgan Stanley Exec In New York

    A former executive director at Morgan Stanley has returned to private practice at Allen Overy Shearman Sterling in New York.

  • August 19, 2024

    Icahn Settles With SEC Over Company-Betting Loan Claims

    The U.S. Securities and Exchange Commission on Monday announced that hedge fund billionaire Carl Icahn and his publicly traded company have agreed to pay $2 million to end an enforcement action accusing them of failing to disclose the use of Icahn Enterprises LP shares as collateral on personal margin loans.

  • August 19, 2024

    Simpson Thacher Atty Is Paul Hastings' Latest Finance Hire

    Paul Hastings LLP announced Monday that it has made another addition to its banking and finance and private credit platforms, welcoming a New York attorney from Simpson Thacher & Bartlett LLP who represents financial institutions, direct lenders, corporate borrowers and financial sponsors.

  • August 16, 2024

    Deutsche, Ex-Trader End 2nd Libor Malicious Prosecution Suit

    Deutsche Bank and a former U.K. derivatives trader who accused the bank of scapegoating him to U.S. authorities investigating interest rate-rigging have resolved his $30 million malicious prosecution lawsuit in New York state court.

  • August 16, 2024

    Crypto Promoter Gets OK To Appeal Securities Ruling At 5th Circ.

    A Texas federal judge on Friday granted a cryptocurrency influencer's bid to immediately appeal an adverse ruling that his promotion of so-called SPRK tokens had sufficient ties to the U.S. since the question of whether his alleged activity is beyond the reach of federal securities regulators could resolve the suit.

  • August 16, 2024

    SEC Climate Rules Backed By Wave Of Amici At 8th Circ.

    The U.S. Securities and Exchange Commission has received a wave of support for its recently adopted climate disclosure rules from various consumer advocacy, environmental, investor and academic groups, which told the Eighth Circuit the measures are necessary and within the agency's authority.

  • August 16, 2024

    Customer Says AAA Must Improve Oversight Of Arbitrators

    The American Arbitration Association allows its arbitrators' decisions to go unchecked because the AAA operates without any formal audit mechanism, a disgruntled T-Mobile USA Inc. customer told a Florida federal judge as he fights an arbitral award favoring the company.

  • August 16, 2024

    Feds To Appeal Platinum Win Over Zero Loss, Count Toss

    Federal prosecutors have notified the Second Circuit that they'll appeal a judge's findings that the loss amount in the case of Platinum Partners co-founder Mark Nordlicht was zero and the wire fraud conspiracy counts against Nordlicht and another would be dismissed, despite Nordlicht's conviction.

  • August 16, 2024

    Nikola, Romeo Power Targeted In Del. Derivative Complaint

    A former Romeo Power Inc. stockholder has launched a double derivative suit seeking derivative damages from nine former Romeo directors and officers in part through derivative claims via Nikola Corp., which acquired Romeo in August 2022 for a fraction of the company's once $1 billion-plus valuation.

  • August 16, 2024

    Shaq Must Face Trimmed Suit Over Astrals Project NFTs

    Basketball Hall of Famer Shaquille O'Neal can escape some, but not all, claims in a proposed class action alleging his promotion of Astrals Project nonfungible tokens violated securities laws by marketing unregistered digital assets, a Florida federal judge ruled Friday.

  • August 16, 2024

    Challenge To SEC Database Not Too Late, Investors Argue

    The Texas investors suing the U.S. Securities and Exchange Commission to stop the collection of trading information through a central database have hit back against the agency's arguments that the lawsuit was filed 12 years too late, saying they have ongoing concerns that their private information could be compromised.

  • August 16, 2024

    SEC Gets Default Entry Against Crypto Ponzi Scheme Aides

    A Washington federal court entered an order of default against two accused Ponzi scheme promoters on Friday, after the U.S. Securities and Exchange Commission said the pair failed to address its allegations that they helped the creator of a purported cryptocurrency trading bot service scam investors out of $295 million.

  • August 16, 2024

    Trump Media Sued In Del. After New Fla. Share-Sale Challenge

    Citing "contemptuous disregard" for Delaware Court of Chancery orders, two co-founders of Trump Media & Technology Group have sought a temporary restraining order to block the social media venture from seeking a Florida court order to stop their sale of some 18 million shares.

  • August 16, 2024

    Ex-Matterport Worker Sues In Del. Over 'Invalid' Trade Block

    A shareholder of 3D spatial mapping company Matterport Inc. sued the California company in Delaware's Court of Chancery Friday, alleging that when it went public by merging with a special acquisition company in 2021, the company prevented him from trading his shares for six months through an "invalid transfer restriction."

  • August 16, 2024

    Convicted Crypto Mixer Says Feds' 30-Year Ask Too High

    The convicted operator of the Bitcoin Fog crypto mixing service urged a Washington, D.C., federal judge to disregard federal prosecutors' 30-year recommendation and instead levy a below-guidelines sentence, arguing the scale of his money laundering operation isn't indicative of harm done.

  • August 16, 2024

    PE Firm's SpaceX Suit Belongs In Delaware, HK Co. Says

    A Hong Kong company that sued a California-based private equity firm for refusing to invest the company's $50 million into SpaceX says the firm has now sued the company's Chinese parent in California, creating "duplicative proceedings" that ought to be brought in Delaware's Chancery Court.

  • August 16, 2024

    Connecticut Litigation Highlights Of 2024: A Midyear Report

    Several high-stakes Connecticut cases came to a close in the first half of 2024, resulting in the resolution of Frontier Communications' $21.8 million feud with its ex-CEO and a $26.5 million deal for RTX Corp. subcontractors and employees who alleged that anticompetitive no-poach agreements prevented them from advancing their careers.

  • August 15, 2024

    SEC Nabs $5.75M Judgment Against Unregistered Broker

    A Florida man and his business have agreed to pay the U.S. Securities and Exchange Commission $5.75 million to end claims they operated as unregistered broker-dealers for at least four years.

  • August 15, 2024

    Zymergen Investors Can't Beat Suit Over Pre-IPO Statements

    Three of the largest investors of biotechnology company Zymergen cannot escape a suit accusing them of misleading shareholders ahead of the company's initial public offering by approving misstatements about the company's commercial product pipeline.

  • August 15, 2024

    Judge Gives Plaintiffs' Attys $1M In Fees For Derivative Row

    A Massachusetts federal judge sliced 60% off a request for attorney fees in a shareholder derivative lawsuit Wednesday, awarding plaintiffs' counsel $1 million for their work on the case, which led to a noncash settlement.

Expert Analysis

  • Series

    Playing Dungeons & Dragons Makes Me A Better Lawyer

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    Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.

  • A Look At The Regulatory Scrutiny Facing Liquid Restaking

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    Recent U.S. Securities and Exchange Commission enforcement actions highlight the regulatory challenges facing emerging financial instruments like liquid restaking tokens and services, say Daniel Davis and Alexander Kim at Katten.

  • 5 Insights Into FDIC's Final Rule On Big-Bank Resolution Plans

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    Although the Federal Deposit Insurance Corp.'s recently finalized rule expanding resolution planning requirements for large banks was generally adopted as proposed, it includes key changes related to filing deadlines, review and feedback, and incorporates lessons learned — particularly from last year's bank failures, say attorneys at Cleary.

  • 3 Leadership Practices For A More Supportive Firm Culture

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    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • Series

    After Chevron: Don't Let Loper Lead To Bank Compliance Lull

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    Banking organizations are staring down a period of greater uncertainty over the next few years as the banking agencies and industry navigate the post-Chevron world, but banks must continue to have effective compliance programs in place even in the face of this unpredictability, say Lee Meyerson and Amanda Allexon at Simpson Thacher.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

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    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

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    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • How 3 Recent High Court Rulings Could Shape Fintech Policy

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    The U.S. Supreme Court's recent decisions in Jarkesy, Loper Bright and Corner Post provide fintech companies with new legal strategies to challenge regulatory actions, but agency reactions to these rulings and inconsistent judicial interpretations could bring compliance challenges and uncertainties, says Amy Whitsel at FS Vector.

  • 2nd Circ. Case Reinforces Need For Advance Notice Bylaws

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    The Second Circuit's recent decision in Nano Dimension v. Murchinson illustrates that Section 13(d) of the Exchange Act is a square peg for a round hole, and that advance notice bylaws are far better at protecting against undisclosed coordination among activist shareholders, say attorneys at Morgan Lewis.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

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    As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.

  • SolarWinds Ruling Offers Cyber Incident Response Takeaways

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    The New York federal court's dismissal of all charges related to the 2019 Sunburst cyberattack is a devastating blow to the U.S. Securities and Exchange Commission's cybersecurity case against SolarWinds, but the well-reasoned opinion provides valuable lessons that may improve companies' defensive posture in the wake of a major cybersecurity incident, say attorneys at Troutman Pepper.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • Evolving Regulatory Oversight For AI And Asset Management

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    Attorneys at K&L Gates discuss the evolving regulatory and legislative landscape for artificial intelligence in the asset management industry, as the U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission and Congress consider how to address potential investor protection and systemic risks associated with AI.

  • Series

    A Day In The In-House Life: Block CLO Talks Problem-Solving

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    Amid the busy summer months, Block Inc. Chief Legal Officer Chrysty Esperanza chronicles a typical Wednesday where she conquered everything from unexpected fintech regulatory issues and team building to Bay Area commutes and school drop-off.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

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