Capital Markets

  • April 05, 2024

    Perrigo Inks $97M Deal With Investors In Securities Fraud Suit

    A class of investors suing Perrigo Co. PLC asked a New Jersey federal judge Friday to approve a $97 million settlement after the court trimmed several claims in the suit alleging the pharmaceutical company's executives made misleading statements to defeat a potential $29 billion takeover attempt.

  • April 05, 2024

    Starbucks Tells Judge Union Dealings Aren't 'Mission Critical'

    Starbucks denied Friday that complying with federal labor law was "mission critical" to its business as it urged a Washington state judge to dismiss a shareholder suit accusing company leaders of union busting, which they say tanked Starbucks' reputation.

  • April 05, 2024

    Genesis Used GBTC Share Proceeds To Buy 32,041 Bitcoin

    Cryptocurrency lender Genesis Global Holdco said it had fully monetized its Grayscale Bitcoin Trust shares and used the proceeds to purchase 32,041 bitcoin that will be distributed to its customers.

  • April 05, 2024

    Jury Finds Pharma Exec 'Shadow Traded' With Inside Info

    A California federal jury found Friday that a former Medivation executive is liable for using inside information from his company when he purchased stock in rival pharmaceutical maker Incyte, in a novel civil "shadow trading" case brought by the U.S. Securities and Exchange Commission.

  • April 05, 2024

    UBS Beats Blockchain Co.'s Spoofing Suit, For Now

    UBS Securities LLC has, for now, escaped a suit accusing it of a so-called spoofing campaign against blockchain company Phunware's stock, with a New York federal judge saying that while Phunware has adequately alleged the spoofing scheme took place, it has failed to show how it was impacted or injured by it. 

  • April 05, 2024

    Gunderson, Sidley Steer Biotech's Scaled-Down $110M IPO

    San Diego, California-based biotech Contineum Therapeutics began trading its shares publicly on Friday after raising $110 million in its scaled-down initial public offering.

  • April 05, 2024

    Skadden-Led Cruise Operator Viking Files $100M IPO

    Private equity-backed cruise operator Viking Holdings Ltd. on Friday filed initial public offering plans with a preliminary fundraising estimate of $100 million, represented by Skadden Arps Slate Meagher & Flom LLP and underwriters' counsel Latham & Watkins LLP, hoping to sail into an IPO market that is more inviting lately.

  • April 05, 2024

    Green Energy Co. Duped Investors Out Of $40M, Suit Says

    A proposed class of investors has hit a purported Chicago green energy outfit and its executives with a federal suit claiming they used promises of extravagant returns to get the plaintiffs to invest but never created any energy or produced the returns they promised. 

  • April 05, 2024

    Terraform And Founder Do Kwon Held Liable For Crypto Fraud

    A Manhattan federal jury quickly found bankrupt cryptocurrency startup Terraform Labs and its creator Do Kwon liable Friday for securities fraud, after the U.S. Securities and Exchange Commission claimed they lied to investors about the company's stability and business prospects.

  • April 05, 2024

    2nd Circ. Revives Coinbase Securities Class Action

    The Second Circuit on Friday revived a proposed class action accusing crypto trading platform Coinbase of selling unregistered securities, saying that competing user contracts left it open for interpretation as to who, exactly, was the direct seller of dozens of tokens trading on the exchange.

  • April 04, 2024

    SEC Points Jury To 'Coincidence' In Shadow Trading Trial

    A U.S. Securities and Exchange Commission attorney on Thursday cross-examined a former executive of pharmaceutical company Medivation about his alleged "shadow trading" in the stock of rival pharma company Incyte, pressing the executive repeatedly to assert that various facts and circumstances supporting the agency's position were merely "coincidence."

  • April 04, 2024

    Crypto Bank, Chair Blast FTX Investors' 'Gatling Gun' Claims

    A crypto bank and its chairman have urged a Florida federal judge to toss a second amended complaint from FTX investors alleging they helped Sam Bankman-Fried abscond with $8 billion in customer assets, saying the investors "employ a Gatling gun approach to pleading."

  • April 04, 2024

    Morgan Stanley, Goldman Sachs Can't Duck Archegos Claims

    A New York appellate court on Thursday affirmed a decision refusing to dismiss ViacomCBS investors' claims against Morgan Stanley, Goldman Sachs and a long list of banks over the collapse of Archegos Capital Management, finding that investors plausibly identified statements the banks made that could have been misleading.

  • April 04, 2024

    Huawei Slated For 2026 Sanctions, IP Theft Trial

    A Brooklyn federal judge on Thursday set the trial of China's Huawei Technologies and affiliates for 2026, over prosecutors' claims that Huawei deceived banks and the U.S. government for years about its business dealings in sanctioned countries and conspired to steal intellectual property from U.S. companies.

  • April 04, 2024

    Latham Led Firms In 1st Quarter IPOs As Outlook Brightens

    Latham & Watkins LLP guided the most initial public offerings among law firms in the year's first quarter, benefiting from an improved fundraising climate that is spreading optimism for IPO lawyers at many firms as the second quarter unfolds.

  • April 04, 2024

    Crypto Co. Fined $700,000 For Duping Investors Into 'AI' Trading

    The owner of an unlicensed cryptocurrency investment firm wooed a cancer patient and other investors with promises of AI-driven trading, only to use their funds for rent payments and other personal expenses, Connecticut regulators said Wednesday in ordering a $700,000 fine.

  • April 04, 2024

    SEC Fines Adviser Senvest $6.5M In Texting Probe Case

    Investment adviser Senvest Management LLC has agreed to pay the U.S. Securities and Exchange Commission $6.5 million for its failure to hold on to certain electronic communications, the SEC said, expanding the list of settlements the agency has secured with firms in recent months over off-channel texting violations.

  • April 04, 2024

    BAE Stuck $8.2B Retirement Plan With Hefty Fees, Court Told

    Aerospace and defense company BAE Systems breached federal benefits law by saddling its $8.2 billion retirement plan with excessive recordkeeping fees and causing participants' savings to plummet, a proposed class action filed in D.C. federal court said.

  • April 04, 2024

    Ginnie Mae, HUD Must Face Bank's Vacated Lien Suit

    A Texas federal judge trimmed but declined to dismiss Texas Capital Bank's suit against the U.S. Department of Housing and Urban Development and its Government National Mortgage Association program over a vacated loan lien that the bank says was worth tens of millions of dollars.

  • April 04, 2024

    BitMEX Can't Ax Investor Suit After 2nd Circ.'s Binance Ruling

    A New York federal judge has refused to toss a proposed class action accusing cryptocurrency platform BitMEX and its executives of using their "God access" to customer accounts to manipulate trades and liquidate the accounts, finding that under the Second Circuit's recent Binance ruling, the transactions occurred in the U.S.

  • April 04, 2024

    Attys Awarded $1.5M In Fees On Tax Disclosure Suit

    Attorneys who won a $4.5 million settlement for a class of investors claiming a Chinese startup misrepresented its tax liability will receive their requested $1.5 million in attorney fees, a New York federal judge ruled.

  • April 04, 2024

    SEC Voluntarily Puts Climate Regs On Ice During Court Battle

    The U.S. Securities and Exchange Commission announced Thursday that it is voluntarily delaying the implementation of climate disclosure regulations while it fights an Eighth Circuit challenge seeking to vacate the rules, with the regulator saying that it hopes the voluntary stay will speed resolution of the case. 

  • April 04, 2024

    Ex-CEO Reaches Legal Fee Agreement With Trump-Tied SPAC

    A Delaware vice chancellor has signed off on an agreement between Donald Trump-tied Digital World Acquisition Corp. and its former CEO to have the venture pay his legal costs related to federal probes and litigation in multiple states.

  • April 04, 2024

    Del. Justices Reverse Chancery On Match.com Deal Fairness

    Delaware's Supreme Court on Thursday undid a Chancery Court dismissal of a challenge to Match.com's 2019 reverse-spinoff from Barry Diller-controlled IAC Interactive, in a closely watched case rejecting the lower court's finding that Match had justified the use of a less onerous fairness test.

  • April 04, 2024

    Deals Rumor Mill: Alphabet, Honeywell, Syngenta IPO

    Google parent Alphabet is exploring whether to make an offer to acquire software company HubSpot; Chinese regulators encouraged pesticides giant Syngenta to pull its $9 billion IPO over concerns it could unsettle China's volatile market, and Honeywell wants to sell its personal protective equipment unit. Here, Law360 breaks down these and other notable deal rumors from the past week.

Expert Analysis

  • The Corporate Disclosure Tug-Of-War's Free Speech Issues

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    The continuing conflict over corporate disclosure requirements — highlighted by a lawsuit against Missouri's anti-ESG rules — has important implications not just for investors and regulated entities but also for broader questions about the scope of the First Amendment, say Colin Pohlman, and Jane Luxton and Paul Kisslinger at Lewis Brisbois.

  • Crypto Issues To Watch Amid Evolving Legal Landscape

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    This year will likely be a momentous one for crypto in the U.S., but whether it is successful or disastrous will depend on the outcome of high-profile court decisions and key regulatory actions, say attorneys at Venable.

  • Navigating The Sunset Of Sibor And Other Key Benchmarks

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    Similar to the recent transition away from Libor, the expected cessation deadlines of the Canadian Dollar Offered Rate and Singapore Interbank Offered Rate are nigh, so Canadian and Singapore dollar-denominated credit facilities will likely need to be amended, say attorneys at Cadwalader.

  • FTC AI Inquiry Signals Intensified Focus On Emerging Tech

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    The Federal Trade Commission's recent inquiry into investments and partnerships between Big Tech companies and artificial intelligence startups appears to be directed at guiding future enforcement decisions in competition, privacy and consumer protection — and three principles discussed at a related tech summit give insight on the agency's approach, say attorneys at Skadden.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • What Are The Pros And Cons Of Selling A Bankruptcy Claim?

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    As companies navigate financial uncertainties and market challenges, they should understand the advantages and disadvantages of selling a bankruptcy claim, so that they can monetize it with confidence and minimize the risk that amounts received in connection with a sale will be subject to potential disgorgement, says Evelyn Meltzer at Troutman Pepper.

  • Series

    Competing In Dressage Makes Me A Better Lawyer

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    My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.

  • What Financial Cos. Must Know For Handling T+1 Settlements

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    The U.S. Securities and Exchange Commission has adopted a groundbreaking new T+1 settlement rule for securities transactions in order to improve market efficiency — but it presents significant challenges for the financial services industry, especially private equity firms, hedge funds and institutional asset managers, says Adam Weiss at Petra Funds Group.

  • CFTC Moves May Boost Interest In Voluntary Carbon Markets

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    As companies try to reduce their net greenhouse gas emissions, many have been cautious about embracing voluntary carbon credit markets — but recent moves by the U.S. Commodity Futures Trading Commission to regulate this sector may address some of its well-known challenges, say Deborah North and Laura Daugherty at Cleary.

  • 3 Strategies For Aggressive Judgment Enforcement

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    As illustrated by the many creditors of Citgo Petroleum Corp. who may walk away empty-handed — despite the company's court-ordered sale — it is important to start investigating counterparty assets and planning for enforcement even before obtaining a judgment, says Brian Asher at Asher Research.

  • How Biotech Cos. Can Utilize Synthetic Royalty Financing

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    Synthetic royalty transactions have been on the rise as a funding structure for biotechnology companies, but questions have arisen surrounding how such transactions work, and structuring them correctly requires a nuanced understanding, say Todd Trattner and Ryan Murr at Gibson Dunn.

  • The Legal Industry Needs A Cybersecurity Paradigm Shift

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    As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.

  • As Promised, IRS Is Coming For Crypto Tax Evaders

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    The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

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    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

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