A Connecticut state judge addressed one of the biggest questions created by last year's controversial Cyan ruling when he granted a bid to halt discovery pending a decision about whether to dismiss a case over allegedly misleading public offering documents.
A former Platinum Partners executive on Friday told a New York federal jury that the firm’s co-founder and others misled potential investors about the financial health of Platinum’s main fund while the hedge fund manager was struggling to pay back tens of millions of dollars to its limited partners.
A Manhattan federal judge on Friday approved a $182.5 million settlement between JPMorgan Chase & Co., Citigroup and investors who accuse the two megabanks of rigging a key euro rate, signing off also on a roughly $36 million haul for plaintiffs' firms that brought the antitrust class action.
A financial technology unit of Chinese conglomerate Ping An Insurance has tapped advisers related to its plans to go public in Hong Kong, Lions Gate rebuffed a $5 billion offer for its Starz network from CBS Corp, and Carrefour is considering selling a minority stake in its Chinese business.
A startup that aims to deliver financial services to the unbanked, an income-sharing agreement provider that's seeking to distinguish itself from consumer lenders, and a company that's testing a tool to evaluate potential renewable energy investments are the latest inductees into Arizona's fintech sandbox.
Eight firms will lead five initial public offerings that could raise more than $1.1 billion in combined proceeds during the week of May 20, led by a Diamondback Energy subsidiary's IPO and joined by smaller offerings among blank check and biotechnology companies.
Facebook Global Holdings has put together a Switzerland-based fintech company named Libra Networks to focus on the development of software and infrastructure connected to blockchain, big data, payments and other investments, according to publicly available documents.
Venture-backed cloud infrastructure provider Fastly made its market debut Friday, racking up a $180 million initial public offering that saw the Cooley-led firm price shares at the high end of its range.
Beijing-based Luckin Coffee began trading Friday after pricing its shares at the high end of its expected range and raising up to about $650.8 million in an initial public offering guided by Davis Polk, Conyers and King & Wood.
A New York state judge on Thursday sentenced a man to six years in prison for his admitted role in a kidnapping and robbery that drained $1.8 million worth of Ether cryptocurrency from a victim's digital wallet.
Shares of private equity-backed laboratory supplier Avantor, represented by Simpson Thacher, were expected to begin trading Friday after the company raised $2.9 billion in an initial public offering that priced at the bottom of its reduced range.
Levi & Korsinsky LLP asked a D.C. federal court Wednesday to order the U.S. Securities and Exchange Commission to hand over documents related to its investigation into Tesla CEO Elon Musk's infamous going-private tweet, noting that it is seeking the documents on behalf of shareholders.
An order enjoining cryptocurrency company Tether Ltd. and trading platform Bitfinex now has a 90-day time limit after being tightened by a New York judge, while core provisions safeguarding document requests and freezing a line of credit between the two companies were left intact.
Federal banking regulators told House lawmakers Thursday that they’re expecting to finish writing rules implementing last year’s banking regulatory relief bill by the end of 2019, should soon have more updates on Volcker rule reform and could move to address the Second Circuit’s controversial Madden decision.
A Massachusetts federal judge on Thursday dismissed a proposed class action claiming ReWalk Robotics Ltd. lied to investors ahead of its initial public offering, rejecting the class' bid to switch out a plaintiff who doesn't have standing for one who does.
Mizuho Bank Ltd. is no longer facing a Californian's lawsuit over the collapse of the bitcoin exchange Mt. Gox, marking yet another successful escape from claims that it improperly halted international withdrawals from the exchange.
Financial technology firm OpenFin said Thursday a group of high-profile investors spearheaded by Wells Fargo poured $17 million into a recent funding round, giving the Lowenstein Sandler-led company additional resources to improve its finance-focused desktop operating system.
Federal prosecutors told a New York federal judge that a cryptocurrency entrepreneur should serve at least 2½ years in prison for issuing two fraudulent initial coin offerings in what is one of the first criminal cases to consider the applicability of federal securities laws to digital tokens.
The European Central Bank has urged the bloc’s financial institutions to begin referring to the European Union’s new unsecured overnight borrowing rate in new contracts and those set to mature before the current scandal-hit eurozone benchmark is dropped in 2021.
Five major banks including Royal Bank of Scotland and Barclays have been fined more than €1 billion ($1.2 billion) for allegedly colluding in the trade of large sums in foreign-exchange markets, the European Commission announced Thursday.
In this monthly series, legal recruiting experts from Major Lindsey & Africa interview legal industry leaders about the increasingly competitive business environment. Here, Rod Osborne talks with Gary Tully, head of legal operations at Gilead Sciences.
With its upcoming decision in Thaddeus North v. U.S. Securities and Exchange Commission, the D.C. Circuit should articulate a clear legal standard for when a compliance officer “should have known” about reportable events. Without such guidance, compliance officers cannot do their jobs without fearing unintended consequences, say Brian Rubin and Michelle McIntyre of Eversheds Sutherland.
The Financial Industry Regulatory Authority's proposal to establish a system of preemptive confiscatory fines based on predictive analytics prompts many questions about whether such a regime would be necessary or fair, says Thomas Potter of Burr & Forman.
My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.
An ongoing multidistrict litigation alleges manipulation of the formula used to determine the settlement price for derivatives based on the Chicago Board Options Exchange’s volatility index. But a review of trading data reveals how reasons other than manipulation can explain trading activity on any given day, say consultants with Analysis Group.
The D.C. Circuit’s recent decision in The Robare Group v. U.S. Securities and Exchange Commission drives home the idea that long-accepted interpretations of federal securities laws may be upended when appellate courts take a fresh look at the statutory language, say attorneys at Debevoise & Plimpton.
Retired U.S. Supreme Court Justice John Paul Stevens' new book, "The Making of a Justice," is required reading for anyone interested in 20th and 21st century America, says Seventh Circuit Chief Judge Diane Wood.
The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.
A New York federal court's recent decision in U.S. v. Connolly is a warning to prosecutors against outsourcing their investigations to companies and outside counsel, but it should also be used by companies to determine the framework for internal investigations, says Rachel Maimin of Lowenstein Sandler.
If a client does not demand the application of project management techniques at the start of a matter, or a law firm does not routinely apply them, it is highly likely that additional, avoidable work — legal project management debt — will materialize throughout the matter, says Anthony Widdop of Shearman & Sterling.