Capital Markets

  • March 19, 2024

    Reddit Reveals Patent Complaint From Nokia As IPO Nears

    Reddit Inc. on Tuesday said it received a letter from Nokia Corp. alleging that it has infringed certain Nokia patents, a disclosure that comes just ahead of the social media platform's long-anticipated initial public offering.

  • March 19, 2024

    SEC's Naked Short-Selling Suit Against NJ Firm To Continue

    A New Jersey federal judge has ruled the U.S. Securities and Exchange Commission can largely proceed with its case against a trader and his firm accused of reaping $2 million from an illegal short-selling scheme, but said it cannot seek civil penalties for alleged trading that occurred in three securities.

  • March 19, 2024

    SEC Gambles Climate Rule Fate On Circuit Court Lottery

    The U.S. Securities and Exchange Commission on Tuesday asked the U.S. Judicial Panel on Multidistrict Litigation to consolidate legal challenges to its climate disclosure regulations before a single federal circuit court, leaving the fate of the hotly debated rules in the hands of a randomly selected appellate panel.

  • March 19, 2024

    Leech Tishman Tells 6th Circ. Time Ran Out On Fraud Suit

    A former Leech Tishman attorney was not party to a tolling agreement between his law firm and investors caught in a Ponzi scheme he allegedly should have warned them away from, so the firm should escape vicarious liability once the time limit expired for the investors to sue him, counsel for the firm told the Sixth Circuit Tuesday.

  • March 19, 2024

    3rd Circ. Says CFPB Can Go After Student Loan Trusts

    The Third Circuit ruled Tuesday that the Consumer Financial Protection Bureau can carry on with its debt collection practices suit against a group of Delaware student loan trusts, rejecting their claims that they are just passive financing entities outside the reach of the agency's enforcement authority.

  • March 19, 2024

    Unilever To Spin Off Ice Cream Biz, Including Ben & Jerry's

    European consumer goods giant Unilever on Tuesday unveiled plans to separate its ice cream business, which includes Ben & Jerry's, as part of an effort to simplify and "streamline" its operations.

  • March 19, 2024

    US Bank, Oppenheimer To Pay CFTC $7M In Text Probe Cases

    U.S. Bank NA and Oppenheimer & Co. Inc. have agreed to pay a combined $7 million to settle allegations brought by the U.S. Commodity Futures Trading Commission over the failure to preserve business communications via personal text, the agency announced Tuesday.

  • March 19, 2024

    Bankman-Fried's Fraud Left FTX Users Reeling, Letters Say

    Customers of Sam Bankman-Fried's fallen crypto exchange are struggling with financial insecurity, skimping on expenses including food and worrying about their assets, according to victim letters lodged ahead of the FTX founder's sentencing for what prosecutors call an $11 billion fraud.

  • March 19, 2024

    4 Things To Watch In Reddit's Coming IPO

    Social media platform Reddit Inc. aims to go public this week in a potentially landmark initial public offering that carries distinct risks but, if successful, could energize the broader IPO pipeline. Here, Law360 walks through four things to watch in Reddit's upcoming IPO.

  • March 19, 2024

    Brokerage Owner Hid Compliance Woes Before Sale, Suit Says

    Financial services company Arete Wealth Inc. has sued the previous owner of a brokerage firm it acquired, claiming the former owner papered over widespread compliance issues at his firm that ultimately led to an "onslaught of costly arbitrations" after the sale closed.

  • March 18, 2024

    HSBC Securities Can't Exit Ex-Rep's Whistleblower Suit

    A New York federal judge on Monday green-lit a whistleblower retaliation suit by a former HSBC Securities employee who claimed he was fired for reporting "rampant front-running" by HSBC traders, saying that while certain claims must be trimmed the suit plausibly alleges protected activity was a contributing factor to his termination.

  • March 18, 2024

    SEC Fines Supervisor $47K Over Revenue Inflation Claims

    A former finance director of water treatment company Evoqua Water Technologies Corp. will pay the U.S. Securities and Exchange Commission nearly $47,000 to resolve claims that he was part of a scheme to inflate the company's revenue by $36 million.

  • March 18, 2024

    Petrillo Klein Nabs NY Consumer Protection Chief As Partner

    The former acting head of the Consumer Protection and Financial Enforcement Division of the New York State Department of Financial Services has joined Petrillo Klein & Boxer LLP, where he will focus on white-collar defense of both individuals and institutions.

  • March 18, 2024

    SEC's Grewal Defends 'Shadow Trading' Case Ahead Of Trial

    The enforcement director of the U.S. Securities and Exchange Commission on Monday defended the agency's stance in a novel "shadow trading" case one week before it's set to go to trial, saying that while it's the first case of its kind, the underlying allegations aren't new.

  • March 18, 2024

    Genesis Gets OK For $21M Deal To End SEC Crypto Loan Suit

    A New York federal judge on Monday approved a $21 million settlement to resolve allegations that bankrupt crypto lender Genesis Global Capital LLC violated the U.S. Securities and Exchange Commission's regulations by selling unregistered securities in a joint partnership with crypto exchange Gemini Trust Co.

  • March 18, 2024

    SEC Sanctioned Over 'Bad Faith Conduct' In Crypto Case

    A Utah federal judge sanctioned the U.S. Securities and Exchange Commission on Monday over misstatements its counsel made to obtain emergency measures against crypto project Debt Box, ordering the regulator to pay both the defense's and receiver's attorney fees as well as legal costs arising from the regulator's "bad faith conduct."

  • March 18, 2024

    Genesis Defends Crypto Payments At Ch. 11 Plan Hearing

    Cryptocurrency lender Genesis Global Holdco Monday told a New York bankruptcy judge its proposal to distribute cryptocurrency to its customers is both fair and legal as the hearing on its Chapter 11 liquidation plan wound down.

  • March 18, 2024

    Energy Co. Exec Cops To $5.5M Commodity Kickback Scheme

    A former president of a Texas energy company has pled guilty to fraudulently trading natural gas futures contracts and receiving $5.5 million in illegal kickbacks for the associated trades, the U.S. Department of Justice has said.

  • March 18, 2024

    Voyager Investors Suing Mark Cuban Seek Class Cert.

    Investors suing billionaire Mark Cuban over his role in promoting now-bankrupt Voyager Digital Ltd. have pushed for class certification and urged the court to rule that Voyager was selling unregistered securities.

  • March 18, 2024

    FINRA Fines Firm Over Social Media Influencers' Posts

    The Financial Industry Regulatory Authority announced Monday that it has settled its first formal enforcement disciplinary action stemming from a firm's supervision of social media influencers, fining financial services provider M1 Finance LLC $850,000 for its influencers' misleading posts.

  • March 18, 2024

    2 Investment Firms To Pay SEC $400K For 'AI Washing'

    The U.S. Securities and Exchange Commission on Monday said it had reached settlements totaling $400,000 with a pair of investment advisers over claims that they made false and misleading statements about their use of artificial intelligence.

  • March 18, 2024

    Nuvei's Stock Soars On Disclosure Of Potential PE Buyout

    Canadian fintech Nuvei Corp. said it has formed a special committee to evaluate strategic options after reports indicated that private equity firm Advent International is pursuing a buyout, developments that led to a more than 33% jump in the company's stock Monday.

  • March 18, 2024

    NYSE Moves To Boot Wilbur Ross-Backed SPAC

    Ross Acquisition Corp. II, a special-purpose acquisition company founded by former U.S. Commerce Secretary Wilbur Ross, disclosed Monday the New York Stock Exchange has suspended trading of its shares and began the delisting process after the SPAC failed to complete a merger within the required three-year time frame.

  • March 18, 2024

    Ex-Holland & Knight Atty To Lead Hilgers Graben Gov't Team

    A former securities defense leader at Holland & Knight LLP has moved to Hilgers Graben PLLC's Dallas office to lead the firm's government investigations and regulatory enforcement group.

  • March 18, 2024

    AI-Focused Astera Labs Boosts IPO's Projected Size To $653M

    Astera Labs Inc., a provider of connectivity chips designed to address the growing demand for artificial-intelligence software, on Monday increased the size and price range of its coming initial public offering, which is now set to raise about $653 million.

Expert Analysis

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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

  • Series

    Playing Competitive Tennis Makes Me A Better Lawyer

    Author Photo

    My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.

  • The Questions Around Prometheum's SEC-Compliant Strategy

    Author Photo

    While the rest of the crypto industry has been engaged in a long-running battle to escape the U.S. Securities and Exchange Commission's jurisdiction, a once-obscure startup called Prometheum has instead embraced the SEC's view to become the first crypto special-purpose broker-dealer, but it's unclear whether it can turn its favored status into a workable business, says Keith Blackman at Bracewell.

  • Series

    The Pop Culture Docket: Judge Djerassi On Super Bowl 52

    Author Photo

    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Reverse Merger Tips For Biotechs After SEC's Recent Actions

    Author Photo

    Several recent U.S. Securities and Exchange Commission developments could limit the viability of reverse mergers for biotech companies, and will require additional creativity and analysis for private companies looking to go public, say attorneys at Orrick.

  • Black-Led VC Fund Case Could Hinge On Nature Of Grants

    Author Photo

    Organizations whose missions involve any manner of race-conscious funding should closely monitor arguments this week in American Alliance v. Fearless Fund, a case filed against a grant program that seeks to address the gap in venture capital funding for Black women-led businesses, which will examine whether grants are charitable under Civil Rights Act Section 1981 liability, say Kali Schellenberg and John Stapleton at LeVan Stapleton, and Kenneth Trujillo at Chamberlain Hrdlicka.

  • Ex-OpenSea Staffer Case May Clarify When Info Is Property

    Author Photo

    In considering the appeal of a former OpenSea manager’s wire fraud conviction in U.S. v. Chastain, the Second Circuit may soon provide guidance about whether economic information is traditional property in certain insider trading prosecutions — a theory of fraud that the U.S. Supreme Court has repeatedly narrowed, say attorneys at Debevoise.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Capital Markets archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!