Capital Markets

  • November 25, 2020

    Real Estate Rumors: LibreMax, Mattos Family, Morgan Stanley

    LibreMax Capital is reportedly hoping to sell a $78.6 million New York loan it made earlier this year, the Mattos family has reportedly paid $20.45 million for a Florida retail property and Morgan Stanley is said to have provided $180 million in CMBS financing for a New York office property.

  • November 25, 2020

    Ex-Credit Suisse Regulatory Head Joins Libra Networks As GC

    The Libra Association has brought aboard a former Credit Suisse managing director and banking regulator to serve as general counsel for its operating subsidiary Libra Networks LLC as the organization pushes forward on its digital currency initiative.

  • November 25, 2020

    Goodwin Steers Mass Spectrometry Biz Eyeing $75M IPO

    Mass spectrometry company 908 Devices on Wednesday filed for an initial public offering guided by Goodwin Procter LLP that is preliminarily estimated to bring in about $75 million.

  • November 25, 2020

    FINRA Fines Wells Fargo Over Time Stamp Issue

    The Financial Industry Regulatory Authority levied a "books and records" fine at a Wells Fargo unit for the second time this month on Wednesday, this time alleging that its representatives failed to enter accurate order receipt times in situations that required manual entry. 

  • November 25, 2020

    Judge Won't Order Ch. 11 Freeze On Crypto Firm's Assets

    Creditors of bankrupt cryptocurrency investment venture Cred Inc. lost a bid Wednesday to have the Delaware Bankruptcy Court order certain currency exchanges to freeze assets they say are linked to fraudulent diversions from the company.

  • November 25, 2020

    Media, Energy-Focused SPACs Raise $561M In Market Debuts

    Two blank-check companies, one led by former Disney executives and the other backed by Apollo Global Management, started trading Wednesday after raising a combined $561 million in initial public offerings.

  • November 24, 2020

    Yellen At Treasury Could Set Stage For More Active FSOC

    The selection of former Federal Reserve Chair Janet Yellen to serve as treasury secretary in the incoming Biden administration could position the Financial Stability Oversight Council to step up its scrutiny of the nonbank sector, a corner of the financial system that is drawing renewed concerns about its potential fragility.

  • November 24, 2020

    CFTC Seeks Default Judgment Of $3.9M Forex Scam

    The U.S. Commodity Futures Trading Commission on Monday asked a federal judge in Atlanta to give it an automatic win in litigation against a bogus forex trader who conned more than 10,000 investors out of a total $3.9 million selling a phony foreign exchange trading software product.

  • November 24, 2020

    Commissioner Blasts CFTC's 'Incomplete' Oil Crash Report

    A member of the U.S. Commodity Futures Trading Commission said Tuesday the agency's long-awaited report on April's historic oil futures crash failed to provide a "meaningful understanding" of what caused prices to plunge into negative territory.

  • November 24, 2020

    10 Firms Steer Pot SPAC's $1.2B Deal With Jay-Z

    The biggest blank check company in cannabis on Tuesday created a marijuana powerhouse valued at nearly $1.2 billion and featuring rapper Jay-Z as its leading visionary, in a deal steered by 10 firms including Paul Hastings LLP, Cooley LLP and Reed Smith LLP.

  • November 24, 2020

    Luckin Coffee, Banks Seek Nix Of Shareholder Securities Suit

    Chinese coffeehouse chain Luckin Coffee and its underwriters filed dual motions Monday asking a New York federal judge to dismiss shareholder class action claims that their negligence and misinformation caused the company's stock to plunge following news of hundreds of millions of dollars in fabricated sales.

  • November 24, 2020

    Debevoise Guides Russian E-Commerce Firm's Near-$1B IPO

    Russian e-commerce platform Ozon Holdings PLC went public Tuesday after raising nearly $1 billion in an upsized initial public offering, steered by Debevoise & Plimpton LLP and underwriters counsel Latham & Watkins LLP.

  • November 24, 2020

    Coinbase Ending Margin Trading Based On CFTC Guidance

    Cryptocurrency exchange Coinbase announced Tuesday that it will disable its margin lending product in response to guidance issued by the U.S. Commodity Futures Trading Commission in March, shuttering the platform less than a year after its launch. 

  • November 24, 2020

    US Hits China With Currency Duties, Breaking New Ground

    The Trump administration announced a 122.5% levy on Chinese twist ties Wednesday, marking the first time it has hit Beijing with duties over allegations of currency manipulation.

  • November 24, 2020

    How Firms Can Prep For A More 'Aggressive' SEC

    With a Joe Biden presidency around the corner and U.S. Securities and Exchange Commission Chairman Jay Clayton officially announcing he'll depart by year-end, industry attorneys believe in-house legal and compliance professionals at financial firms should expect a more aggressive incoming enforcement regime.

  • November 24, 2020

    SEC Proposes Easing Stock Sales Rules For 'Gig' Workers

    A divided U.S. Securities and Exchange Commission proposed rules on Tuesday easing how private companies can compensate workers through stock, including short-term "gig" workers who are not traditional employees and depend on equity absent a steady paycheck.

  • November 24, 2020

    Entra Rejects $3.34B Takeover Offer, Mulling Alternate Bid

    Norwegian office property manager Entra has rejected a takeover offer from Swedish real estate firm SBB worth 30 billion Norwegian crowns ($3.34 billion), saying it is instead considering a separate takeover offer made by an undisclosed bidder.

  • November 24, 2020

    OCC Hits JPMorgan With $250M Fine Over Fiduciary Biz

    The Office of the Comptroller of the Currency said Tuesday that it has imposed a $250 million fine on JPMorgan Chase Bank, citing deficiencies in the bank's internal controls and audit program for its massive fiduciary business.

  • November 23, 2020

    SPAC Links Up With 2 Cos. To Form $1.35B Telehealth Giant

    A special purpose acquisition company launched by serial blank check company creator GigCapital Global unveiled plans Monday to merge with digital health care provider UpHealth and telemedicine solutions provider Cloudbreak to forge a publicly traded telehealth business with an enterprise value of $1.35 billion, in a deal guided by DLA Piper, Husch Blackwell and Sidley Austin.

  • November 23, 2020

    Publisher Says Fox Rothschild Violated Legal Ethics

    The publisher of Business Insurance has asked a New York federal judge to sanction Fox Rothschild LLP, alleging the firm violated professional legal ethics in trying to represent the publisher in one action while simultaneously suing it in another on behalf of the publication's former CEO.

  • November 23, 2020

    SEC Urges China-Based Issuers To Beef Up Risk Warnings

    The U.S. Securities and Exchange Commission on Monday urged China-based issuers to fully disclose risks regarding the reliability of their financial statements and related legal matters, marking the latest attempt by regulators to answer concerns that investors may not be getting full information.

  • November 23, 2020

    Pot Co. Nabis Settles With Ex-Exec Amid Debt Reshuffle

    Canadian cannabis company Nabis Holdings Inc. announced on Monday that it had settled a dispute with a former executive amid a plan to restructure the business' $35 million debt.

  • November 23, 2020

    Indicted Ex-Goldman Banker Denies Role In 1MDB Scandal

    A former Goldman Sachs banker asked a New York federal court to toss an indictment against him stemming from the 1Malaysia Development Bhd. scandal, arguing he had no involvement in the multibillion-dollar fraud scheme aside from introducing two of the alleged key players.

  • November 23, 2020

    Forex Rigger Katz On Track For $400-Per-Hour Consult Gig

    A Manhattan federal judge showed little inclination Monday to stop convicted forex rigger Jason Katz from earning $400 per hour as consultant for investors seeking to hold 16 big banks liable for price-fixing, but the judge suggested capping the former government cooperator's pay.

  • November 23, 2020

    Regal Cinemas' Owner Nabs $450M Loan To Outlast COVID-19

    Regal Cinemas' U.K.-based parent company said Monday it secured a $450 million loan and will issue equity warrants to help the movie theater behemoth weather the COVID-19 pandemic and avert any bankruptcy filings until audiences return to the big screen.

Expert Analysis

  • Opinion

    The Ill-Fated Emergence Of The Bitcoin Balance Sheet

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    Other corporations may follow MicroStrategy's lead and invest in problematic Bitcoin, in what appears to be a new chapter of irresponsible corporate behavior, says cybersecurity consultant John Reed Stark.

  • Ethics Reminders As Employees Move To Or From Gov't

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    Many organizations are making plans for executives to go into government jobs, or for government officials to join a private sector team, but they must understand the many ethics rules that can put a damper on just how valuable the former employee or new hire can be, say Scott Thomas and Jennifer Carrier at Blank Rome.

  • Expect 2021 SEC To Turn Hawkish On Auditor Enforcement

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    President-elect Joe Biden's U.S. Securities and Exchange Commission will almost certainly usher in a reversal of recent years' slow pace of auditor enforcement — just 11 actions this year — back up toward the levels of the Obama administration's Operation Broken Gate, say Charles Smith and Andrew Fuchs at Skadden.

  • A Key To Helping Clients Make Better Decisions During Crisis

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    As the pandemic brings a variety of legal stresses for businesses, lawyers must understand the emotional dynamic of a crisis and the particular energy it produces to effectively fulfill their role as advisers, say Meredith Parfet and Aaron Solomon at Ravenyard Group.

  • Ethics Considerations For Law Firms Implementing AI

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    Richard Finkelman and Yihua Astle at Berkeley Research Group discuss the ethical and bias concerns law firms must address when implementing artificial intelligence-powered applications for recruiting, conflict identification and client counseling.

  • Tech Cos. Could Face Stiffer SEC Enforcement Under Biden

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    Ahead of President-elect Joe Biden's appointment of a new U.S. Securities and Exchange Commission chair, Silicon Valley should expect greater scrutiny of whistleblowers, earnings management, risk disclosures and insider trading — all potentially influenced by the federal courts in serving as a check on the agency's enforcement, say attorneys at MoFo.

  • Picking The Right Location And Tools For Virtual Courtrooms

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    Attorneys should consider the pros and cons of participating in virtual court proceedings from home versus their law firm offices, and whether they have the right audio, video and team communication tools for their particular setup, say attorneys at Arnold & Porter.

  • Beware Atty Ethics Rules When Reporting COVID-19 Fraud

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    Attorneys considering blowing the whistle on False Claims Act violations by recipients of COVID-19 relief may face a number of ethical constraints on their ability to disclose client information and file qui tam actions, say Breon Peace and Jennifer Kennedy Park at Cleary.

  • Looking For Judicial Activists? Check The Footnotes

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    U.S. Supreme Court nominees typically face intense questioning over potential judicial activism, but a better way to gauge judges' activist tendencies may be to look at the footnotes in their opinions, say Christopher Collier at Hawkins Parnell and Michael Arndt at Rohan Law.

  • Best Practices For Legal Technology Adoption

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    The pandemic has accelerated the need to improve the practice of law through technology, but law firms and in-house legal departments must first ensure they have employee buy-in and well-defined processes for new digital tools, say Dan Broderick at BlackBoiler and Daryl Shetterly at Orrick.

  • Valuation Uncertainty Could Prompt Increased Litigation

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    The COVID-19 pandemic has increased volatility around forward-looking cash flows and discount rates, which may lead to more business valuation disputes, particularly in the M&A and bankruptcy litigation contexts, say analysts at Cornerstone Research.

  • What The Biden-Harris Win Means For Securities Regulation

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    In this brief video, Amy Greer and Valerie Mirko at Baker McKenzie examine what a government led by Joe Biden and Kamala Harris could mean for the securities industry, regulatory leadership and financial policy.

  • The Pandemic's Long-Term Impact On Law Firm Operations

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    Brian Burlant at Major Lindsey looks at how pandemic-era remote work has changed the way law firms operate — from shifts in secretarial functions to associate professional development — and explains why some alterations may be here to stay.

  • Treasury Stance On Ransomware Payment Could Hurt Targets

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    Recent statements from two U.S. Department of the Treasury offices indicate that paying off ransomware with cryptocurrency may trigger certain registration requirements and U.S. sanctions scrutiny, placing a significant regulatory burden on cybervictims and their incident response consultants, say attorneys at McDermott.

  • How Biden Might Dismantle Trump-Era Regulations

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    The Biden administration will likely take swift action to undo regulatory actions from the past four years with a variety of tools, including executive orders, the Congressional Review Act and legal challenges under the Administrative Procedure Act, say attorneys at Jenner & Block.

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