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Asset Management
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July 10, 2025
FCC Says Yes To T-Mobile's $5B Metronet Buy After Nixing DEI
T-Mobile has received the Federal Communications Commission's blessing to go ahead with its $4.9 billion joint venture to acquire fiber company Metronet, one day after telling the agency it would end its diversity, equity and inclusion programs in furtherance of the FCC chair's goals.
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July 10, 2025
DOL Urges 9th Circ. To OK Toss Of HP 401(k) Forfeiture Suit
The U.S. Department of Labor urged the Ninth Circuit to reject HP Inc. workers' bid to revive a proposed class action alleging forfeited employee 401(k) plan contributions were mismanaged, arguing a lower court properly tossed the case for failure to state a claim for violating federal benefits law.
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July 10, 2025
Senate Confirms Gould As OCC Head
The U.S. Senate on Thursday confirmed Jones Day partner Jonathan Gould as Comptroller of the Currency in a 50-45 vote along party lines, marking his return to the agency where he spent more than two years as chief counsel.
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July 10, 2025
Texas Judge Partially Voids DOL's ERISA Rollover Rule
A Texas federal judge partially invalidated an investment advice regulation from President Donald Trump's first administration involving employee retirement savings and rollover transactions, ruling the U.S. Department of Labor exceeded its authority when it handed down a new interpretation of federal benefits law.
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July 10, 2025
Ropes-Led ICapital Valued At $7.5B After $820M Fundraise
Ropes & Gray LLP-advised fintech company iCapital on Thursday revealed that it raised more than $820 million in its latest financing round, bringing the New York-based company's valuation to over $7.5 billion.
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July 10, 2025
5 Employee Benefits Takeaways On The GOP Tax Bill
Congressional Republicans' sweeping tax and policy bill, which President Donald Trump sought and then signed, contains multiple provisions that caught the attention of employee benefits and executive compensation attorneys, including new changes to high-deductible health plans and an employer-side deduction limit affecting highly compensated employees. Here are five takeaways from employee benefits and executive compensation attorneys on what's in — and out of — the GOP megabill.
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July 10, 2025
SpaceX Seeks Record $400B Valuation, Plus More Rumors
Elon Musk's satellite and rocket maker SpaceX is planning to raise money in a private round that would value the company at a record $400 billion, Starbucks China is seeking bids for a stake sale that could value the chain at $10 billion, plus online fashion giant Shein hopes to salvage its long-awaited IPO by listing in Hong Kong.
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July 09, 2025
10th Circ. Backs Insurance Co. In Disabled Worker's Fee Fight
The Tenth Circuit declined to revive a disabled worker's suit claiming a life insurance company owed her attorney fees after she successfully challenged its decision to cancel her benefits, ruling that federal law doesn't allow her to sue for legal expenses if a benefit dispute doesn't go to court.
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July 09, 2025
Venture-Backed MedTech Firm Shoulder Innovations Files IPO
Venture-backed medical device firm Shoulder Innovations Inc. has filed plans for an initial public offering, represented by Latham & Watkins LLP and underwriters' counsel Cooley LLP, marking the latest health-focused technology startup to test public markets.
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July 09, 2025
OFAC Fines Tech Co. $1.4M Over Iran Sanctions Violations
Harman International Industries Inc. has agreed to pay more than $1.4 million to settle allegations from the U.S. Department of the Treasury's trade sanctions enforcement arm that various compliance deficiencies at the audio electronics company contributed to Iran sanctions violations.
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July 09, 2025
Thunderstone SPAC Eyes $50M IPO Targeting Growth Firms
Special purpose acquisition company Thunderstone Acquisition told U.S. regulators Wednesday that it plans to raise up to $50 million in its initial public offering.
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July 09, 2025
Seyfarth Lands DLA Piper Corporate Ace In Atlanta
Seyfarth Shaw LLP has added a former DLA Piper attorney to its Atlanta office, strengthening its institutional investors services and its corporate practice with a lawyer who has served on temporary assignment to a sovereign wealth fund based in the United Arab Emirates, the firm announced Wednesday.
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July 09, 2025
Globa Terra SPAC Raises $152M To Target Agribusiness Deals
Special purpose acquisition company Globa Terra Acquisition Corp. began trading Wednesday after pricing a $152 million initial public offering, enabling the vehicle to pursue mergers in the agribusiness or water sectors, represented by Paul Hastings LLP.
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July 09, 2025
LLCP Wraps 7th Flagship Fund With $3.6B In Tow
Los Angeles-based private equity shop Levine Leichtman Capital Partners, advised by Kirkland & Ellis LLP, on Wednesday revealed that it closed its seventh fund above target after securing over $3.6 billion of investor commitments.
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July 08, 2025
Macy's Says McLaughlin Ruling Backs Axing DOL's ERISA Suit
Macy's has once again asked an Ohio federal judge to slash a U.S. Department of Labor lawsuit claiming the retail company discriminated against tobacco users by charging them an extra fee through its health insurance plan, this time leaning on the U.S. Supreme Court's recent McLaughlin ruling to argue no new lawsuit is required to push aside agency rulemaking.
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July 08, 2025
CME Says Investors Shouldn't Get $2B Over Trading Changes
A class of CME Group members seeking more than $2 billion over allegedly broken promises to preserve their exclusive floor trading rights following a demutualization should lose their case because they're not entitled to something their decades-old contracts never contemplated, counsel for the exchange operator told an Illinois jury Tuesday.
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July 08, 2025
Crypto Firm ReserveOne To Go Public Via $1B SPAC Merger
Crypto asset management firm ReserveOne announced Tuesday that a special purpose acquisition company plans to take it public in a transaction that's expected to bring in more than $1 billion in proceeds as it pursues its novel crypto reserve strategy.
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July 08, 2025
Trump Media Files Plans To Launch 'Blue Chip' Crypto ETF
Trump Media and Technology Group Corp., the owner of President Donald Trump's platform Truth Social, on Tuesday filed documents to launch an exchange-traded fund that will invest in five cryptocurrencies, marking its latest cryptocurrency-focused ETF proposal.
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July 08, 2025
GOP Senators Unveil Employment Bills Package
Senate Health, Education, Labor and Pensions Committee Chairman Bill Cassidy, R-La., and two other Republican senators jointly introduced a package of bills that would give independent contractors access to retirement and health benefits, and introduce a new independent contractor definition.
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July 08, 2025
Cooley-Guided Heavybit Raises $180M Across 2 Latest Funds
Cooley LLP-advised enterprise infrastructure investor Heavybit on Tuesday said it had closed its fifth flagship pre-seed and seed fund as well as its second opportunity fund, securing over $180 million combined, the firm's largest collective fundraise to date.
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July 08, 2025
4 Firms Guide BlackRock's ElmTree Acquisition Deal
BlackRock Inc. will acquire net lease real estate investment firm ElmTree Funds, which oversees $7.3 billion worth of assets as of March 31, in a deal guided by Skadden Arps Slate Meagher & Flom LLP, Fried Frank Harris Shriver & Jacobson LLP, Sidley Austin LLP and Kirkland & Ellis LLP, BlackRock announced.
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July 08, 2025
Latin America-Focused Miner Aura Minerals Eyes $210M US IPO
Canadian gold and copper miner Aura Minerals has announced the terms for its U.S. initial public offering, with plans to raise $210 million to command a market value of $2.1 billion.
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July 08, 2025
Texas Stock Exchange Taps Former SEC Markets Executive
The Texas Stock Exchange's owner on Tuesday said it has hired U.S. Securities and Exchange Commission veteran David Saltiel to join the startup, which aims to compete with the New York Stock Exchange and Nasdaq.
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July 08, 2025
Jones Day Adds Ex-FDIC, Treasury Leaders To Financial Team
Jones Day has expanded its financial markets practice in Washington, D.C., with two new partners who have key experience at financial institutions and regulatory agencies.
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July 08, 2025
Kirkland-Led Seaside Secures $720M For 2 New Funds
Kirkland & Ellis LLP-advised Seaside Equity Partners on Tuesday revealed that it wrapped fundraising for its two latest funds with total commitments of over $720 million.
Expert Analysis
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5 Ways Banking Has Changed In 5 Years Since COVID
Since the start of the pandemic five years ago, technology, convenience and shifting expectations have transformed compliance for the financial services industry in several key ways, from the shrinking role of the traditional bank branch to the rise of fintech and mobile payments, says Christopher Pippett at Fox Rothschild.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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OCC Patriot Bank Order Spotlights AML Issues For Managers
The Office of the Comptroller of the Currency's focus on payments and prepaid card program managers in its recent consent order with Patriot Bank is noteworthy and shows regulators are unlikely to back down on enforcement related to Bank Secrecy Act/anti-money laundering, say attorneys at Troutman Pepper.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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How Tariffs May Affect Proxy Contests This Season
While global tariffs imposed by the Trump administration will certainly chill at least some activity this proxy season, and make defending contests significantly easier, there will likely be many new activist investments once there is more economic certainty, meaning more proxy fights this fall, say attorneys at Sidley.
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A Closer Look At New NYSE, Nasdaq Listing Rule Changes
The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.
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Opinion
GENIUS Act Can Bring Harmony To Crypto-Banking Discord
By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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SEC Confidential Review Process Provides Issuers Flexibility
The U.S. Securities and Exchange Commission's recently announced enhancements to the process for confidentially submitting draft registration statements will be immediately impactful for issuers seeking to access the public capital markets, and should provide more grounds to explore and plan public offerings, say attorneys at Lowenstein Sandler.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.