The receiver for defunct hedge fund Platinum Partners agreed to pay around $14 million to settle with insurers that say Platinum owed them more than $44 million, a move the receiver said eliminated one of the biggest obstacles to investors finally recouping some of their losses.
The planned Libra digital currency faced such unrelenting backlash that the group behind it modified its underlying structure and packed leadership positions with compliance experts in recent months. But whether these changes will allow the project to realize its ambitions remains uncertain.
Renters and home insurance provider Lemonade's shares traded Thursday in an upsized $319 million initial public offering with shares peaking 144% above the offering price, in a deal advised on by Latham & Watkins LLP and White & Case LLP.
Uber hopes to pay $2.6 billion for Postmates, a group of Japanese entities is investing $14.4 billion in a gas project in Mozambique, and a new funding round will value Chinese groceries delivery app XingSheng at $3 billion. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.
Singapore's competition authority on Thursday raised concerns about the London Stock Exchange's planned $27 billion takeover of Refinitiv, saying the blockbuster deal could affect the market for foreign exchange rates.
The initial public offering market ended midyear on a roll and appears poised for a strong second half of 2020, powered by a robust biotechnology sector and potential debuts from venture-backed technology "unicorns" — barring more pandemic-related setbacks.
The U.S. Supreme Court agreed Thursday to hear Nestlé and Cargill's challenges to a Ninth Circuit ruling leaving the companies on the hook for allegations that they benefited from African child labor, teeing up a potential ruling on whether U.S. corporations can be liable for human rights abuses abroad.
The U.S. Department of Justice on Wednesday filed civil forfeiture complaints seeking about $96 million in assets allegedly related to money laundering by a Malaysian state-owned investment fund, including artwork by Claude Monet, Jean-Michel Basquiat and Andy Warhol.
Israeli cybersecurity software company Tufin overstated its business prospects in North America in the lead-up to its $108 million initial public offering, teeing up a drop in its stock price when the company underperformed, an investor told a New York state court Wednesday.
Roche Cyrulnik Freedman LLP and Selendy & Gay PLLC will work together to represent a proposed class of investors in a suit in Manhattan federal court alleging blockchain software developer TRON Foundation and two of its co-founders made more than $70 million selling unregistered securities.
U.K.-based law firm Freshfields Bruckhaus Deringer LLP on Wednesday announced a new outpost in Silicon Valley, hiring five California attorneys from four rivals to form its third U.S. office and build its footprint in the global tech hub.
Special purpose acquisition company Panacea Acquisition Corp. debuted in public markets Wednesday after completing a $125 million initial public offering intended to fund a biotechnology acquisition, guided by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Greenberg Traurig LLP.
Shares for data and analytics service Dun & Bradstreet began trading on the New York Stock Exchange on Wednesday in an upsized initial public offering that raised $1.7 billion — the third largest this year — in a deal advised on by Weil Gotshal & Manges LLP and Latham & Watkins LLP.
Block & Leviton LLP will represent a proposed class of shareholders in a suit in California federal court alleging drug developer Gossamer Bio Inc. violated federal securities laws by misleading investors about an asthma treatment it had in the works as it raised more than $317 million when it went public.
Market participants on Tuesday urged U.S. Securities and Exchange Commission officials to improve consistency in public company disclosures on matters ranging from how the pandemic is impacting operations to how businesses are addressing social concerns like diversity, so investors can make apples-to-apples comparisons among different companies.
Real estate investment trust Innovative Industrial Properties announced Tuesday it hopes to raise roughly $225 million in an upsized public offering advised by Foley & Lardner LLP and DLA Piper LLP.
Technology company Nvidia has asked a California federal judge to toss a shareholder suit accusing it of understating more than $1 billion in crypto-related sales, saying investors are "cherry-picking" portions of executives' statements to allege fraud.
A special purpose acquisition company sponsored by Goldman Sachs started trading Tuesday after raising $700 million in an initial public offering steered by Skadden Arps Slate Meagher & Flom LLP.
A Canadian cannabis holding company with properties in several U.S. states has invoked force majeure to delay an interest payment on $35 million in debt, saying the coronavirus pandemic has made raising capital "virtually impossible."
American restaurant chain BurgerFi agreed to a $100 million merger with private equity affiliated blank check company OPES Acquisition Corp., the companies said Tuesday, in a deal guided by Loeb & Loeb and Shumaker Loop & Kendrick.
The Consumer Financial Protection Bureau has survived its brush with the U.S. Supreme Court, but the high court's decision giving the president free rein to fire the head of the agency could provide a springboard for future challenges to the independence of other regulatory agencies.
With only a few days left before its compliance date, the U.S. Securities and Exchange Commission's Regulation Best Interest was upheld by a Second Circuit panel unswayed by arguments that the new rule governing standards of conduct for broker-dealers doesn't do enough to protect investors.
A Tennessee federal magistrate judge on Monday recommended certifying two proposed investor classes accusing accounting giant KPMG of helping the now-defunct Miller Energy Resources Inc. falsify financials about oil and gas assets, finding the shareholders proved they fulfill all federal requirements.
The holders of some $1.68 billion in Venezuelan bonds are arguing that leaked comments made by the country's special attorney general acknowledging the weakness of its legal efforts to protect Citgo undermine arguments from the country's U.S. ambassador that the bonds violate Venezuelan law.
The negative economic impacts of COVID-19 and the government relief programs meant to mitigate them have resulted in "elevated" compliance and other operational risks for banks, the Office of the Comptroller of the Currency said in a report issued Monday.
It has long been the law that attorneys cannot use percentage rental agreements because doing so would constitute an impermissible sharing of fees with nonlawyers, but such arrangements can help lawyers match expenses with revenues in lean times like now, say Peter Jarvis and Trisha Thompson at Holland & Knight.
A California state appellate court's recent decision in Masellis v. Law Office of Leslie F. Jensen provides a road map for proving causation and damages in settle-and-sue legal malpractice cases — an important issue of long-standing confusion, says Steven Berenson at Klinedinst.
Lenders and borrowers in the COVID-19 Main Street Lending Program can steer clear of litigation roadblocks with proactive compliance measures, but the U.S. Department of Justice should also facilitate the program's objectives by issuing a policy statement limiting False Claims Act actions, say Robert Huffman and Caroline Wolverton at Akin Gump.
The compliance date has arrived for two rules adopted by the U.S. Securities and Exchange Commission last year — Regulation Best Interest and the Form CRS Relationship Summary — and there are many regulatory developments and legal questions that in-house counsel and compliance professionals should consider, say attorneys at Eversheds Sutherland.
Mediation conducted online with participants in different states makes it harder to determine where communications were made, increasing the risk that courts will apply laws of a state that does not protect mediation confidentiality, say mediators Jeff Kichaven and Teresa Frisbie and law student Tyler Codina.
Without a pandemic resolution in sight, defense counsel will need to make adaptations when addressing remote testimony requests from the U.S. Securities and Exchange Commission, including negotiating for favorable interview conditions and mitigating the consequences of a refusal to testify, say attorneys at Richards Kibbe.
In light of the regulatory attention on private equity investment activity, as well as the recent decline in M&A activity and increase in private investments in public equity, the Federal Trade Commission or U.S. Department of Justice may decide to examine for the first time a PIPE transaction that raises competitive questions, say Peter McCormack and Laura Sullivan at Kirkland.
The Electronic Signatures in Global and National Commerce Act — signed into law on June 30, 2000 — has been the legal foundation for the electronic execution of trusted, enforceable digital contracts, and has enabled the lending economy to thrive despite the COVID-19 pandemic, says Stephen Bisbee at eOriginal.
As I learned after completing a recent international arbitration remotely, with advance planning a video hearing can replicate the in-person experience surprisingly well, and may actually be superior in certain respects, says Kate Shih at Quinn Emanuel.
In light of the U.S. Supreme Court's recent decision in Liu v. Securities and Exchange Commission, taxpayers whose pre-Tax Cuts and Jobs Act disgorgement deductions were rejected should consider contesting the Internal Revenue Service's determination, say attorneys at Chamberlain Hrdlicka.
If law firms are truly serious about making meaningful change in terms of diversity, they must adopt a demographically neutral, unbiased hiring equation that looks at personality traits with greater import than grades and class rank, says Thomas Latino at Florida State University College of Law.
The North American Securities Administrators Association's recently proposed model state whistleblower law could be a timely weapon against securities misconduct in light of the new and unique opportunities COVID-19 presents for fraudsters, and certain federal registration exemptions that may soon be relaxed, says attorney Patrick McCloskey.
Now that the U.S. no longer considers Hong Kong autonomous from China, stateside financial services companies should monitor public company audit reporting, non-U.S. futures and swaps trading, and international capital reporting, say Matthew Kluchenek and Matthew Bisanz at Mayer Brown.
With large swaths of the population indoors and primarily online, cybercriminals will be able to exploit law firms more easily now than ever before, but some basic precautions can help, says Joel Wallenstrom at Wickr.
The U.S. Supreme Court’s recent refusal to review a Second Circuit decision allowing recovery of funds Bernie Madoff transferred outside the U.S. leaves open the question of whether the clawback initiative’s claims will survive given the strict pleading and proof standards that have evolved over the last 12 years of litigation, say attorneys at Quarles & Brady.