Capital Markets

  • August 14, 2024

    Top Stories From Real Estate's Latest Quarterly Updates

    Catch up on the headlines made by the largest public real estate companies during their latest quarterly earnings calls with investors, from data centers and lease deals to market forecasts and casinos. 

  • August 14, 2024

    Class Split Disrupts Hearing On $8.7M Sears Suit Settlement

    A Sears Hometown and Outlet Stores stockholder that saw its share appraisal case tanked by the company's bankruptcy in late 2022 won Court of Chancery clearance Wednesday to intervene with a novel, alternative claim for recovery through a separate, ongoing SHOS class damages suit.

  • August 14, 2024

    CFTC Hits Vitol With First-Of-Its-Kind Position Limits Fine

    The U.S. Commodity Futures Trading Commission issued its first-ever fine Wednesday against a trader exceeding position limits by holding the same contract across multiple exchanges, penalizing Swiss energy and commodities company Vitol SA for its positions on cattle and crude oil futures.

  • August 14, 2024

    EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS

    European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.

  • August 14, 2024

    Judge Blocks Missouri's Anti-ESG Rules, Handing SIFMA Win

    A Missouri federal judge found Wednesday that the state's anti-ESG rules for brokers and advisers violate the First Amendment and are preempted by federal laws, handing the Securities Industry and Financial Markets Association an early win in its suit against state officials.

  • August 14, 2024

    Rising Star: Latham's Brittany Ruiz

    Brittany Ruiz represented the underwriters for Instacart's $660 million initial public offering — the largest IPO globally in 2023 — earning her a spot among the capital markets law practitioners under age 40 honored by Law360 as Rising Stars.

  • August 14, 2024

    Ex-Binance GC Joins Crypto Co. Bitget As Legal Chief

    Seychelles-based crypto exchange Bitget on Wednesday announced it has hired a new chief legal officer who, among other roles, served as general counsel at Binance prior to its high-profile settlement with U.S. authorities last year.

  • August 14, 2024

    Rising Star: Dechert's Matthew Fischer

    Dechert LLP's Matthew Fischer has opened up the agricultural market to lenders, guided small banks through major securitizations and navigated an ever-changing regulatory landscape on behalf of his clients as they juggle valuable assets, earning him a spot among the complex financial instruments attorneys under age 40 honored by Law360 as Rising Stars.

  • August 13, 2024

    Musk Can't Ax Fraud Suit Over Twitter Buy, Investors Say

    A pension fund has fired back at Elon Musk's bid to dismiss the rest of its amended proposed securities fraud class action in New York federal court that alleges the X Corp. CEO covertly bought more than 5% of Twitter's stocks to save more than $143 million before announcing his intent to buy the social media platform.

  • August 13, 2024

    Nvidia Urges High Court To Rein In 'Abusive' Investor Suits

    Chip manufacturer Nvidia Corp. filed its opening salvo Tuesday in a bid for U.S. Supreme Court victory over investors who accuse the company of downplaying its reliance on the crypto mining market, arguing that a lower court decision allowing the case to move forward "eviscerates the guardrails that Congress erected to protect the public from abusive securities litigation."

  • August 13, 2024

    Coinbase Says Scope Of Discovery Was Set By SEC Suit

    Cryptocurrency exchange Coinbase told a New York federal judge that if its discovery requests for the U.S. Securities and Exchange Commission are onerous for the regulator, the agency's own claims in the registration suit are to blame.

  • August 13, 2024

    FINRA Flags Potential Pitfalls As Members Wade Into Crypto

    The Financial Industry Regulatory Authority on Tuesday raised potential problem areas it has noticed related to members' dealings in crypto assets as part of a broader update on how the firms it oversees are wading into digital assets.

  • August 13, 2024

    Tar Sands Firm Strikes SPAC Merger With Integrated Rail

    Tar Sands Holdings II LLC, advised by Holland & Hart LLP, plans to go public following a merger with Winston & Strawn LLP-led special purpose acquisition company Integrated Rail and Resources Acquisition Corp., according to a Monday statement.

  • August 13, 2024

    Rising Star: Skadden's Laura Salvati

    Complex financial instrument law may not be fine art, but if you ask Skadden Arps Slate Meagher & Flom LLP's Laura Salvati, creativity is important, and her artistic nature has helped her build novel financing structures for her clients' billion-dollar deals. That creativity, in part, has made her one of the attorneys under age 40 practicing complex financial instrument law selected by Law360 as a Rising Star.

  • August 13, 2024

    Baker Botts-Led Drilling Firm Joins September's IPO Pipeline

    Drilling equipment and services provider HMH Holding Inc. has filed for an initial public offering, represented by Baker Botts LLP and underwriters counsel Latham & Watkins LLP, joining a pipeline of potential post-Labor Day IPOs.

  • August 13, 2024

    Ex-Tilray Exec Can Collect $4M Arbitration Award

    A Minnesota federal judge has confirmed a more than $4 million arbitration award in favor of a former Tilray Brands Inc. executive who took the company to arbitration over her termination, finding that the pharmaceutical company hasn't established that the award should be vacated.

  • August 13, 2024

    Rising Star: Paul Weiss' Christodoulos Kaoutzanis

    Christodoulos Kaoutzanis of Paul Weiss Rifkind Wharton & Garrison LLP has led multibillion-dollar offerings, including Savers Value Village's $461.4 million and Rocket Cos.' $2 billion initial public offerings, earning him a spot among the competition attorneys under 40 honored by Law360 Rising Stars.

  • August 12, 2024

    3AC Hedge Fund Files $1.3B Claim In TerraForm Bankruptcy

    Liquidators of collapsed crypto hedge fund Three Arrows Capital Ltd. filed a $1.3 billion claim in the TerraForm Labs Pte. bankruptcy in Delaware federal court Friday, according to documents obtained by Law360.

  • August 12, 2024

    Nasdaq Isn't Immune From Racial Bias Claims, Investor Says

    The Nasdaq Stock Market isn't immune from racial discrimination claims because such claims are "simply too different" from the claims it actually is protected from as a self-regulatory organization, an investor in a minority-led special purpose acquisition company has argued.

  • August 12, 2024

    9th Circ. Reboots Manipulation Suit Against Binance.US

    The Ninth Circuit on Monday partially reversed the dismissal of a proposed class action alleging that Binance.US artificially deflated the price of HEX cryptocurrency by lowering its ranking on its exchange, finding that the investor who brought the suit had established personal jurisdiction for some of his claims under the Commodity Exchange Act. 

  • August 12, 2024

    SEC Fines OTC Link For Suspicious Activity Reports Failures

    Broker-dealer OTC Link LLC on Monday agreed to pay nearly $1.2 million to settle U.S. Securities and Exchange Commission claims that the New York-based alternative trading system failed to monitor financial transactions for potential red flags over a three-year period.

  • August 12, 2024

    DeFi Org Inks Deal To Get Crypto Patent Suits Dropped

    Cryptocurrency advocacy group the DeFi Education Fund on Monday announced it reached an agreement with a blockchain solutions firm it accused of "trolling" a pair of decentralized crypto protocols, purchasing the patent at issue and dedicating it to the public in return for a dismissal of the suits.

  • August 12, 2024

    Navy Federal, Recording Software Co. Want Privacy Suit Nixed

    Navy Federal Credit Union customers can't bring an invasion of privacy class action over the credit union's use of artificial intelligence software to analyze and record customer calls, in part because its recording practices were appropriately disclosed, the nation's largest credit union has argued.

  • August 12, 2024

    Deutsche Bank Fights Del. TRO Lift In $380M Vik Asset Fight

    Deutsche Bank AG urged Delaware's Court of Chancery Monday to keep in place a temporary restraining order barring interests of Norwegian billionaire investor Alexander Vik from securing release of more than $50 million in cash now locked down by a Chancery order.

  • August 12, 2024

    Celsius Sues Tether For Over $2B In Ch. 11 Clawbacks

    The defunct cryptocurrency platform Celsius Network has sued the largest stablecoin provider, Tether, seeking to claw back more than $2.3 billion worth of bitcoin and accusing Tether of improperly reaping the benefits of the digital coins for itself as Celsius was spiraling towards bankruptcy.

Expert Analysis

  • 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.

  • Jarkesy's Impact On SEC Enforcement Will Be Modest

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    Though the U.S. Supreme Court’s recent U.S. Securities and Exchange Commission v. Jarkesy decision found that fraud defendants have a constitutional right to a jury trial, the ruling will have muted impact on the agency’s enforcement because it’s already bringing most of its cases in federal court, say Jeremiah Williams and Alyssa Fixsen at Ropes & Gray.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Opinion

    After Jarkesy, IRS Must Course-Correct On Captive Insurance

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    The U.S. Supreme Court’s recent Securities and Exchange Commission v. Jarkesy decision has profound implications for other agencies, including the IRS, which must stop ignoring due process and curtailing congressional intent in its policing of captive insurance arrangements, says Peter Dawson at the 831(b) Institute.

  • Dissecting Treasury's Call For Input On AI In Financial Sector

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    The U.S. Department of the Treasury's request for comments on the potential benefits and challenges AI may pose to the financial services sector, which asks how stakeholders are addressing and mitigating increased fraud risks, reflects the federal government's continued interest in AI's effects across the economy, say attorneys at Hogan Lovells.

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