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Asset Management
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September 10, 2025
Latham-Led Stablecoin Firm Figure Prices Upsized $788M IPO
Stablecoin issuer Figure Technology Solutions began trading Thursday after it priced an upsized initial public offering that raised $787.5 million above its marketed range, in an offering guided by Latham & Watkins LLP and Davis Polk & Wardwell LLP.
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September 10, 2025
Ex-NYPD Officer Gets 3 Years For Forex Fraud Scheme
A former New York City police officer turned foreign currency exchange investor on Wednesday was sentenced to three years in prison for defrauding investors out of over $4 million through lies about nonexistent risk mitigation measures.
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September 10, 2025
Del. Justices Urged To Revive $10.5B Zendesk Deal Challenge
An attorney for stockholders of software-as-a-service business Zendesk Inc. told Delaware's Supreme Court Wednesday that a conflict at the heart of a challenge to the company's $10.5 billion take-private deal with a private equity consortium was undisclosed at the time of its approval.
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September 10, 2025
Airbnb Presses Bid To Toss Conservative Shareholders' Suit
Airbnb Inc. is urging a Delaware federal judge to reject a lawsuit from two conservative institutional shareholders, arguing that delivery of the groups' shareholder proposals to the company's mail room doesn't suggest executives sought to exclude the submissions from the company's 2025 proxy materials.
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September 10, 2025
Kirkland, Kilpatrick Townsend Guide $566M Potbelly Sale
Potbelly Corp. will be sold to convenience retailer RaceTrac Inc. for $566 million in a deal steered by Kirkland & Ellis LLP and Kilpatrick Townsend & Stockton LLP, respectively, the sandwich chain announced Wednesday.
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September 10, 2025
Trump To Take Fed Gov. Cook's Removal Case To DC Circ.
President Donald Trump on Wednesday told a Washington, D.C., federal judge that the government will appeal the judge's decision granting a temporary win to Federal Reserve Gov. Lisa Cook in her challenge to the president's attempt to remove her from her position.
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September 10, 2025
Private Equity Fund CEO Charged In $62.5M Ponzi-Like Fraud
The founder of a private equity fund was charged with wire fraud in California federal court for allegedly scamming about $62.5 million from 500 investors through sham promissory notes that purported to yield investment returns up to 15%, while using investors' cash to pay interest to other investors in a Ponzi-like scheme.
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September 10, 2025
AI Infrastructure Startup Nebius Seeks $3B To Fuel Expansion
Dutch artificial intelligence infrastructure company Nebius Group N.V. on Wednesday announced plans to raise up to $3 billion to further fuel its growth, a move that comes just days after the tech company revealed a multibillion-dollar partnership with Microsoft.
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September 10, 2025
Del. Justices Urged To Reverse Ad Co. Note Conversion Nix
An investor group attorney told three Delaware Supreme Court justices Wednesday that the Court of Chancery wrongly found last year that advertising tech company Vistar Media Inc. had a right to involuntarily cash out millions worth of matured investor notes despite noteholder claims their agreement never allowed the move.
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September 10, 2025
SEC Taps Gibson Atty To Head Corporation Finance Division
The U.S. Securities and Exchange Commission on Wednesday named the co-chair of Gibson Dunn & Crutcher LLP's securities regulation practice as the new leader of its Division of Corporation Finance, which is responsible for writing rules and providing guidance to publicly traded companies on shareholder disclosure matters, among other things.
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September 10, 2025
PsiQuantum Valued At $7B After $1B Funding Round
Quantum computer company PsiQuantum, advised by Goodwin Procter LLP, on Wednesday revealed that it hit a $7 billion valuation following the close of its $1 billion Series E funding round, which will help the Palo Alto-based company build "the world's first" commercially useful, fault-tolerant quantum computers.
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September 10, 2025
Molson Coors Kept Subpar Fund In $2B 401(k) Plan, Suit Says
Molson Coors kept a risky and poorly performing fund in its nearly $2 billion employee 401(k) plan, costing plan participants millions of dollars in retirement savings, a former worker for the brewing giant said in a proposed class action in Wisconsin federal court.
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September 10, 2025
Skadden, Latham Lead Vimeo's $1.4B Sale To Bending Spoons
Video platform Vimeo Inc. said Wednesday it has agreed to be acquired by Italian mobile app developer Bending Spoons in an all-cash transaction valued at approximately $1.38 billion, with Skadden Arps Slate Meagher & Flom LLP representing Vimeo and Latham & Watkins LLP advising Bending Spoons.
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September 10, 2025
Kirkland-Led Veritas Clinches $14.4B Tech-Focused Fund
Technology investor Veritas Capital, led by Kirkland & Ellis LLP, revealed on Wednesday that it wrapped fundraising for its ninth fund after securing $14.4 billion in capital commitments, which will be used to invest across the technology sector.
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September 10, 2025
Kirkland Adds Fintech Regulatory Partner From McDermott
Kirkland & Ellis LLP has enhanced its fintech regulatory compliance capabilities in New York with the addition of an experienced corporate partner who joins the firm from McDermott Will & Schulte.
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September 09, 2025
Fed Reserve Gov. Cook Wins Removal Reprieve For Now
Federal Reserve Gov. Lisa Cook, for now, can stay on the Fed's board while she challenges President Donald Trump's attempt to strip her of her position, a D.C. federal judge ruled late Tuesday, saying Cook has "made a strong showing" that her purported removal was likely illegal.
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September 09, 2025
Investor Tells Texas Justices UDF Claims Aren't Derivative
The Texas Supreme Court on Tuesday pressed an alternative investment firm to explain how its suit against an adviser to a fund at the center of a $100 million, decadelong Ponzi scheme would not be classified as a derivative action, asking what distinct injury allows the firm to sue individually.
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September 09, 2025
CenterPoint Inks Deal To End Workers' 401(k) Fee Suit
CenterPoint Energy has agreed to settle a proposed class action filed in Texas federal court claiming it failed to rein in costly management fees for its $3 billion retirement plan, resulting in millions in losses for workers' retirement savings.
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September 09, 2025
Ariz. Developer, Son Get Prison For $280M Sports Park Fraud
An Arizona developer and his son were both sentenced to prison Tuesday for deceiving investors into sinking $280 million into a Phoenix-area sports park by forging documents and inflating revenue projections for the facility, which entered bankruptcy soon after it opened.
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September 09, 2025
Private Fund Adviser To Pay $9.7M To End SEC Suit
The U.S. Securities and Exchange Commission announced on Tuesday that a real estate-focused Colorado private fund adviser and his two management firms would pay $9.7 million to settle claims of defrauding investors with misrepresentations, which include concealing conflicts of interests in proposed buyout transaction requests he sent to investors.
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September 09, 2025
SEC Sued To Lift Private Market Investment Cap
A U.S. Securities and Exchange Commission regulation that prohibits individuals making less than $200,000 a year from investing in the private markets is unconstitutionally discriminatory, according to a lawsuit launched against the agency in Texas federal court.
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September 09, 2025
Full 11th Circ. Backs Health Plan's Gender Care Exclusions
The Eleventh Circuit struck down a win Tuesday for a transgender sheriff's deputy who sued a Georgia county health plan after it refused to pay for gender-affirming surgery, saying the challenged coverage exclusion did not violate federal anti-discrimination law.
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September 09, 2025
Why SEC, CFTC Crypto Rules 'Sprint' Could Be A Marathon
The White House-backed push to entice the crypto industry's return to the U.S. with clearer rules is off to a quick start, but experts say the process could drag on longer than anticipated as regulators navigate competing interests of embracing the evolving digital assets market and protecting consumers.
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September 09, 2025
1st Circ. Urged To Nix $42M Disgorgement In Stock Scheme
Five alleged participants in a $144 million multinational pump-and-dump scheme asked the First Circuit on Tuesday to vacate a disgorgement order holding them jointly and severally liable for nearly a third of the alleged ill-gotten gains, saying the order is based on "gibberish" records generated by the scheme's mastermind.
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September 09, 2025
Kidney Care Co. Strive Health Secures $550M In New Funding
Kidney care company Strive Health, led by Goodwin Procter LLP, on Tuesday revealed that it has completed a $550 million capital raise, which will be used to help the company enhance its "value-based" care model through advanced technology such as artificial intelligence-driven tools and analytics.
Expert Analysis
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Series
Adapting To Private Practice: From Texas AUSA To BigLaw
As I learned when I transitioned from an assistant U.S. attorney to a BigLaw partner, the move from government to private practice is not without its hurdles, but it offers immense potential for growth and the opportunity to use highly transferable skills developed in public service, says Jeffery Vaden at Bracewell.
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Advice For 1st-Gen Lawyers Entering The Legal Profession
Nikki Hurtado at The Ferraro Law Firm tells her story of being a first-generation lawyer and how others who begin their professional journeys without the benefit of playbooks handed down by relatives can turn this disadvantage into their greatest strength.
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What FDIC's Asset Threshold Raise Would Mean For Banking
If the Federal Deposit Insurance Corp. goes through with its plan to raise asset thresholds that determine regulatory intensity, it could free billions in compliance costs and bolster regional and community banks, but risk of oversight gaps are making this a contested area in banking policy, says Jessica Groza at Kohr Jackson.
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2nd Circ. Ruling Gives Banks Shield From Terrorism Liability
A recent Second Circuit dismissal strengthens the position of international banks facing claims they indirectly helped terrorist organizations and provides clearer guidance on the boundaries of secondary liability, but doesn't provide absolute immunity, say attorneys at Freshfields.
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Patterns And Trends In Publicly Filed Insider Trading Policies
An assessment of insider trading policies filed by over 60 issuers reveals a range of common approaches and a few differences with respect to key policy terms, including the parties covered, the scope of prohibited activities and the exceptions to these prohibitions, say attorneys at Debevoise.
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Series
Coaching Cheerleading Makes Me A Better Lawyer
At first glance, cheerleading and litigation may seem like worlds apart, but both require precision, adaptability, leadership and the ability to stay composed under pressure — all of which have sharpened how I approach my work in the emotionally complex world of mass torts and personal injury, says Rashanda Bruce at Robins Kaplan.
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How New Texas Law Targets ESG Proxy Advice
A recently enacted Texas law represents a major shift in how proxy advisory services are regulated in Texas, particularly when recommendations are based on nonfinancial factors like ESG and DEI, but legal challenges underscore the statute’s broader constitutional and statutory implications, say attorneys at Bracewell.
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Series
Law School's Missed Lessons: How To Make A Deal
Preparing lawyers for the nuances of a transactional practice is not a strong suit for most law schools, but, in practice, there are six principles that can help young M&A lawyers become seasoned, trusted deal advisers, says Chuck Morton at Venable.
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From Clerkship To Law Firm: 5 Transition Tips For Associates
Excerpt from Practical Guidance
Transitioning from a judicial clerkship to an associate position at a law firm may seem daunting, but by using knowledge gained while clerking, being mindful of key differences and taking advantage of professional development opportunities, these attorneys can flourish in private practice, say attorneys at Lowenstein Sandler.
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Associates Can Earn Credibility By Investing In Relationships
As the class of 2025 prepares to join law firms this fall, new associates must adapt to office dynamics and establish credible reputations — which require quiet, consistent relationship-building skills as much as legal acumen, says Kyle Forges at Bast Amron.
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How The Genius Act May Aid In Fight Against 'Pig Butchering'
The recently enacted Genius Act represents a watershed moment in the fight against crypto fraud, providing new tools to freeze and recover funds that are lost to scams such as "pig butchering" schemes executed from scam factories abroad, but there are implementation challenges to watch, say attorneys at Treanor Devlin.
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Filing Clarifies FTC, DOJ's Passive Investment Stance
The antitrust agencies' statement of interest filed in Texas v. Blackrock clarifies that certain forms of corporate governance engagement are permissible under the "solely for investment" exemption, a move that offers guidance for passive investors but also signals new scrutiny of coordinated engagement, say attorneys at Stinson.
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Lessons From 7th Circ.'s Deleted Chat Sanctions Ruling
The Seventh Circuit’s recent decision in Pable v. Chicago Transit Authority, affirming the dismissal of an ex-employee’s retaliation claims, highlights the importance of properly handling the preservation of ephemeral messages and clarifies key sanctions issues, says Philip Favro at Favro Law.
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Series
Quilting Makes Me A Better Lawyer
Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham.
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How Tariffs Can Affect Event Studies In Securities Litigation
When the control period is calm and the event window is stormy — often the case with breaking political or economic developments, like President Donald Trump's recent tariff announcements — traditional event study methodology can increase the risk of misleading conclusions in securities litigation, say economic consultants at NERA.