Capital Markets

  • September 22, 2020

    4 Questions As Nikola Navigates Gov't Probes, Investor Suits

    Nikola Corp. is facing scrutiny from investors and the government after the electric truck maker's founder suddenly stepped down in the wake of a short-seller's report accusing the company of overhyping its technology, raising a host of questions about Nikola's prospects, including its fresh partnership with General Motors.

  • September 22, 2020

    Watchdog Props Up Reports At Heart Of 'FinCEN Files' Leak

    A government watchdog report released Tuesday says the Financial Crimes Enforcement Network should help point local law enforcement officials to reports that banks file to flag potential financial crimes, defending the value of the reports just days after the so-called FinCEN Files media reports questioned their efficacy.

  • September 22, 2020

    Takeda Subsidiary Seeks $130M For Drug Firm's Spinoff Fraud

    A Takeda subsidiary told the Delaware Chancery Court on Tuesday that it should get $130 million in damages from immunotherapy drug developer Harpoon Therapeutics, after a vice chancellor found that Harpoon fraudulently induced it into buying into a cancer therapy research and investment opportunity.

  • September 22, 2020

    Fintech Co. Unifiedpost Raises $295M, Goes Public In Europe

    The Belgium-based fintech startup Unifiedpost began listing on Europe's largest stock exchange Tuesday after raising €252 million ($295 million) in an offering that valued the cloud-based platform provider at €608 million ($711.8 million).

  • September 22, 2020

    Powell Skeptical Expanding 'Main Street' Would Help Small Biz

    Federal Reserve Chairman Jerome Powell told House lawmakers on Tuesday that to help small businesses weather the coronavirus pandemic, expanding the central bank's Main Street Lending Program may be less effective than reauthorizing the Paycheck Protection Program.

  • September 22, 2020

    Aimco Investor Blasts Plan To Split Company, Calls For Vote

    Activist investor and Apartment Investment and Management Co. investor Jonathan Litt on Tuesday blasted the company's plan to split the business into two entities and called for a shareholder vote on the matter, saying the transaction would likely decrease the value of its investment and is an attempt by the company's leaders to rid itself of a track record of poor management.

  • September 22, 2020

    Media-Focused SPAC Leads 3 IPOs Raising $590M Combined

    A White & Case-led special purpose acquisition company seeking to buy a business in the media and technology industries debuted in public markets Tuesday after raising $300 million, the largest of three recent SPAC initial public offerings that netted a total of $590 million.

  • September 22, 2020

    Investors Say Phone Co.'s IPO Didn't Disclose Product Flaws

    Cellphone maker Sonim Technologies Inc.'s stockholders sued its board and top officers on behalf of the company in Delaware federal court late Monday, seeking derivative damages for failures to disclose serious product troubles before its initial public offering in May 2019.

  • September 22, 2020

    Ex-Deutsche Traders Say Gov't Didn't Prove Spoofing Scheme

    A pair of former Deutsche Bank traders on Tuesday told a jury — winnowed in size after a COVID-19 exposure scare — that prosecutors presented a case too incomplete, inaccurate and misleading to convict them for manipulating the precious metals market through an unlawful spoofing scheme.

  • September 21, 2020

    Justice Ginsburg: Who She Was, How She Shaped The Law

    Justice Ruth Bader Ginsburg died on Friday at age 87. Here, Law360 looks at the feminist icon's legacy and the battle brewing over her seat.

  • September 21, 2020

    Law360's The Term: The Life And Legacy Of Justice Ginsburg

    Justice Ruth Bader Ginsburg is among the few on the U.S. Supreme Court to have etched her name into legal history long before donning a robe. In a special episode this week, Law360's The Term dives into her legacy as a pioneering women's rights advocate with two guests who worked by her side. 

  • September 21, 2020

    Budding Textualist Star Barbara Lagoa Eyed For High Court

    Known as a budding superstar in Florida conservative legal circles, committed textualist Judge Barbara Lagoa could continue her lightning-quick ascent through the appellate ranks if President Donald Trump taps her for the now-vacant U.S. Supreme Court seat, where she would become the first Cuban-American, and first Floridian, to sit on the high court.

  • September 21, 2020

    No Early Wins For Bitcoin 'Inventor' Ahead Of $10B Trial

    A Florida federal judge has denied self-described Bitcoin "inventor" Craig Wright's bid for summary judgment in a dispute over the ownership of potentially $10 billion that's slated for trial early next year.

  • September 21, 2020

    McConnell Defends Election-Year Plan To Replace Ginsburg

    The Senate majority leader on Monday defended his plan to replace Justice Ruth Bader Ginsburg this year, while the House speaker said the late jurist will become the first woman to lie in state at the Capitol.

  • September 21, 2020

    OCC Says Banks Can Hold Reserves For Stablecoin Issuers

    The Office of the Comptroller of the Currency on Monday affirmed that national banks and federal savings associations can hold deposits that serve as a reserve against fiat currency-backed stablecoin cryptocurrencies.

  • September 21, 2020

    New Exchange MEMX Seeks To Challenge NYSE, Nasdaq

    Members Exchange, or MEMX, a new Wall Street-backed stock exchange seeking to compete against dominant players including the New York Stock Exchange and Nasdaq, began trading several major securities Monday, vowing to improve service and lower costs for investors.

  • September 21, 2020

    New Olympics CCO Says Communication Is Key To Overhaul

    When Holly Shick joined the U.S. Olympic & Paralympic Committee last month as its first chief ethics and compliance officer, the outgoing Goldman Sachs executive took the helm of an ambitious compliance overhaul that could prove pivotal as the organization restores its image across the country and the world.

  • September 21, 2020

    Cravath, Latham Craft $8B Deal For Cancer Detection Biz

    Biotechnology firm Illumina Inc. has agreed to buy Grail, a publicly traded cancer detection company it founded back in 2016, for roughly $8 billion, the two California-based companies said Monday, in a deal stitched together by Cravath and Latham & Watkins.

  • September 20, 2020

    Birthdays, Weddings And In Between: RBG And Her Clerks

    Justice Ruth Bader Ginsburg’s law clerks say that she brought the same level of care and dedication to her relationships with them as she did to the rest of her life. Here are some stories they shared, demonstrating how those qualities seeped into her relationships and interactions.

  • September 20, 2020

    Our 'North Star': What RBG Means To Women In Law

    Female attorneys around the country say they're devastated by the death of Justice Ruth Bader Ginsburg, a woman they looked to as a role model for candidly speaking out about the struggles she faced as a female lawyer integrating her work and family life, which made her a relatable icon.

  • September 20, 2020

    Will The Senate Replace Ginsburg Before Election Day?

    Senators return Monday to a chamber consumed with President Donald Trump's vow to quickly select a replacement for the late U.S. Supreme Court Justice Ruth Bader Ginsburg and cement a conservative majority for years to come.

  • September 20, 2020

    5 To Watch As GOP Races To Fill Ginsburg's Seat

    President Donald Trump has said he will name a woman to succeed the late Justice Ruth Bader Ginsburg on the U.S. Supreme Court. Here's a look at five candidates he could pick in the coming days.

  • September 20, 2020

    RBG's Biggest Opinions, From Civil Rights To Civil Procedure

    Justice Ruth Bader Ginsburg was perhaps best known for her dissents, but scholars and those who knew her say her majority opinions may better reflect her judicial philosophy, as well as her time as a law professor and civil rights lawyer.

  • September 18, 2020

    Mexico Meat Co. To Pay $60K For Flouting Cattle Futures Bar

    The Commodity Futures Trading Commission announced Friday that it and the Chicago Mercantile Exchange had ordered a Mexican meat processing company to pay a total $60,000 in fines for entering 200 more contracts to sell live cattle at a future date than it was legally allowed.

  • September 18, 2020

    12 Firms To Guide IPOs Exceeding $2B As September Sizzles

    Twelve law firms will guide at least eight initial public offerings estimated to raise nearly $2.2 billion during the week of Sept. 21, including a nearly $1 billion offering from a digital health care platform, potentially extending the IPO market's torrid streak of late.

Expert Analysis

  • Opinion

    The Case For A Nonpolitical Federal Judiciary

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    For the last 20 years, at the insistence of both parties, U.S. Supreme Court nominations have been fierce ideological battles — which is bad for the country and bad for the public's perception of the legitimacy of the court, say Judge Eric Moyé, Judge Craig Smith and Winston & Strawn partner Tom Melsheimer.

  • The Keys To A Better Privilege Logging Paradigm

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    Current privilege logging practices to identify what information is being withheld from discovery often lead to costly disputes, so practitioners should adopt a system based on trust and good faith, similar to the presumptions embedded in the business judgment rule for corporate directors and officers, say Kevin Brady at Volkswagen and Charles Ragan and Ted Hiser at Redgrave.

  • Opinion

    Pending Changes Pose Threat To SEC Whistleblower Program

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    If the U.S. Securities and Exchange Commission approves changes to the Dodd-Frank Act whistleblower rules on Wednesday, it will weaken protections for tipsters and radically undermine a regime that has returned $750 million to investors and collected over $2.5 billion in sanctions, says Stephen Kohn of Kohn Kohn & Colapinto.

  • White House Due Process Memo Could Reform Enforcement

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    A little-noticed memo recently issued by the Trump administration in response to the pandemic, directing federal agencies to provide greater due process to individuals and companies under regulatory investigation, represents a long-overdue sea change in the way justice is carried out in enforcement proceedings, say Joan Meyer and Norman Bloch at Thompson Hine.

  • What Shifting FCPA Enforcement Means For Financial Cos.

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    In this brief video, Tom Firestone and Daniela Fonseca Puggina at Baker McKenzie analyze how Foreign Corrupt Practices Act enforcement is placing greater emphasis on bribe recipients, and what this trend means for financial institutions and their know-your-customer policies and practices.

  • Law Firm Hiring Considerations In A COVID-19 Economy

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    Financially robust law firms are entering the recruiting market aggressively knowing that dislocations like the COVID-19 crisis present rare competitive opportunities, and firms that remain on the sidelines when it comes to strategic hiring will be especially vulnerable to having their best talent poached, says Brian Burlant at Major Lindsey.

  • Hurdles Ahead For Stock Exchange Direct Listings

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    The U.S. Securities and Exchange Commission's recent approval of primary direct listings at the New York Stock Exchange suggests that companies wishing to bypass initial public offerings may soon have that option, but not without a fight over investor protection and liability concerns, say attorneys at Cleary.

  • Opinion

    Lawyers Must Act To Preserve Democracy This Election

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    COVID-19 concerns and glaring gaps in registration threaten to dampen voter turnout in the 2020 election, so attorneys should take on the problem by leveraging their knowledge and resources in seven ways, says Laura Brill at Kendall Brill.

  • How To Effectively Defend Witnesses In Remote Depositions

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    When a witness is isolated from the defending lawyer during a remote deposition, carefully planning the logistics and building witness confidence are critical to avoiding damaging admissions, say Jessica Staiger at Archer Daniels and Alec Solotorovsky at Eimer Stahl.

  • How The Pandemic Is Changing Stock Volatility Calculations

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    The COVID-19 pandemic is causing changes to beta measurement of stock sensitivity to market movements, and experts face the difficult question of whether to incorporate this changed beta into valuations in litigation, say Andrew Roper at Catalyst Economic Consulting and Clifford Ang at Compass Lexecon.

  • Whether And How To Compel Remote Arbitration

    Excerpt from Practical Guidance
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    As the pandemic delays in-person arbitration hearings, mediator and arbitrator Theodore Cheng provides arbitrators with a checklist to examine the rationale and authority for compelling parties to participate in remote hearings.

  • The Unique Challenges Of Protecting A Law Firm Brand

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    Recent law firm trademark disputes highlight how the tension between legal ethics rules and trademark law can make it difficult for firms to select brands that are distinctive and entitled to protection, say Kimberly Maynard and Tyler Maulsby at Frankfurt Kurnit.

  • Lehman Ruling Continues Bankruptcy Safe Harbor Expansion

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    The Second Circuit's recent rejection of Lehman Brothers' post-bankruptcy attempt to recover nearly $1 billion in noteholder payments continues the recent amplification and expansion of the Bankruptcy Code safe harbor provisions, providing clarity on the right to liquidate for parties to protected agreements, say attorneys at Cadwalader.

  • Employment Concerns For Financial Cos. During COVID-19

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    Susan Eandi and Paul Evans at Baker McKenzie discuss how financial services companies can mitigate risk for certain types of COVID-19 employment lawsuits, and recent pandemic-related guidance from the U.S. Securities and Exchange Commission concerning broker-dealer and investment adviser compliance.

  • How To Calculate Securities Fraud Class Size With SEC Data

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    With COVID-19 expected to spur a surge in lawsuits where shareholders claim they paid inflated prices for securities due to disclosure-related issuer fraud, analysts at the Griffing Group explore a methodology for calculating class sizes using investor filings with the U.S. Securities and Exchange Commission.

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