Capital Markets

July 03, 2025
SEC Signals Openness To Novel Crypto ETPs

The U.S. Securities and Exchange Commission appears to be laying the groundwork to approve increasingly innovative crypto exchange-traded products with a staff statement on disclosure expectations and the recent approval of a novel fund, but experts said the commission's openness comes with a focus on fulsome disclosure.
July 03, 2025
CEO Seeks Exit From Crypto Investors' Fraud Suit

The alleged co-CEO of purported crypto projects accused of duping investors out of tens of millions of dollars with false promises of returns has filed a motion to escape the suit, arguing he was not involved with the formation of the projects.
July 03, 2025
Circuit-By-Circuit Recap: Justices Send Message To Outliers

It was a tough term at the U.S. Supreme Court for two very different circuits — one solidly liberal, one solidly conservative — that had their rulings overturned in eye-popping numbers. But it was another impressive year for a relatively moderate circuit that appears increasingly simpatico with the high court.
July 03, 2025
The Moments That Shaped The Universal Injunction Case

The U.S. Supreme Court voted along ideological lines when it hindered the ability of federal district court judges to issue nationwide pauses on presidential policies, but that outcome didn't seem like a foregone conclusion during oral arguments earlier this year. What do the colloquies suggest about the justices' thinking? Here are some moments that may have swayed them.
July 03, 2025
Gold Reserve Unit To Bid $7.4B In Venezuelan Debt Case

The special master overseeing the sale of Citgo's parent company to satisfy billions of dollars of Venezuelan debt on Wednesday made his final recommendation on a bidder, choosing a subsidiary of mining company Gold Reserve that has agreed to a $7.382 billion purchase price.
July 03, 2025
The Firms That Won Big At The Supreme Court

The number of law firms juggling three or more arguments before the U.S. Supreme Court this past term nearly doubled from the number of firms that could make that claim last term.
July 03, 2025
Breaking Down The Vote: The High Court Term In Review

The U.S. Supreme Court once again waited until the term's closing weeks — and even hours — to issue some of its most anticipated and divided decisions.
July 03, 2025
Cooley Leads AI-Focused Chipmaker Ambiq's $75M IPO Filing

Venture-backed chipmaker Ambiq Micro Inc. filed for a $75 million initial public offering Thursday, with Cooley LLP advising it and Davis Polk & Wardwell LLP representing the underwriters, marking the latest artificial intelligence-related startup to pursue an IPO.
July 03, 2025
Citgo, Castrol Field Billion-Dollar Bids, And More Deal Rumors

Vitol submitted a more than $10 billion bid to buy the parent of Venezuela-owned U.S. refiner Citgo Petroleum, according to Wednesday reports, but subsequent news indicated that it might not be enough to beat out the competition. Castrol, which is BP's lubricant arm, is also running an auction process, with private equity firm Clayton Dubilier & Rice reportedly emerging as one of the latest bidders.
July 03, 2025
Capital Markets Upturn Sets Stage For Second-Half Rebound

Deals attorneys are approaching the second half of 2025 increasingly confident that capital markets' activity will accelerate despite potential headwinds stemming from higher tariffs, interest rate uncertainties and geopolitical turmoil.
July 03, 2025
Mid-Year M&A Deal Flow Suffers Amid Global Instability

More than six months into a new Donald Trump administration, the mergers and acquisitions boom that many market observers anticipated has failed to materialize. In part one of this two-part M&A review, industry attorneys discussed market activity so far this year, how geopolitical factors are impacting the dealmaking environment, and their outlook for the remainder of 2025.
July 02, 2025
Feds Charge Four North Koreans With Crypto Theft Scheme

Federal prosecutors in Atlanta have charged four North Korean nationals with stealing and laundering nearly $1 million in cryptocurrency from a pair of companies after lying about their backgrounds to gain employment with American and European firms.
July 02, 2025
EQV Ventures' Upsized IPO Tops 4 Listings Totaling $830M

Energy-focused special purpose acquisition company EQV Ventures Acquisition Corp. II began trading Wednesday after pricing an upsized $420 million initial public offering, in the largest of four SPAC IPOs totaling $830 million.
July 02, 2025
High Court Case Tops List of Securities Appeals To Watch

The U.S. Supreme Court has agreed to take up at least one shareholder's lawsuit when it reopens its doors in October, and securities attorneys from both the plaintiff and defense bars will be watching that appeal and several others as the year moves forward.
July 02, 2025
SEC Staff Shares Disclosure Guidance For Crypto ETPs

The U.S. Securities and Exchange Commission staff is providing more insight on its expectations around disclosures for novel crypto exchange-traded products, urging issuers to share risks specific to the product and use plain language over technical jargon to explain the business.
July 02, 2025
CoastalSouth Bank Raises $44M In Downsized IPO At Low End

CoastalSouth Bancshares Inc. began trading Wednesday after the South Carolina- and Georgia-focused bank priced a downsized $44 million initial public offering at the bottom of its range, represented by Alston & Bird LLP and underwriters' counsel Troutman Pepper Locke LLP.
July 02, 2025
Justices Won't Hear Crypto Firms' Venue Statute Case

The U.S. Supreme Court has said it will not take up a petition from the Binance-branded U.S. exchange and an affiliated crypto data site to resolve what they call a circuit split in a case accusing Binance.US of artificially deflating the price of a cryptocurrency token by lowering its ranking on the Binance exchange.
July 02, 2025
Bermuda Firm Wants US Co. To Honor Arbitration Summons

A Texas federal court has ordered U.S. consumer credit company Americor to respond to allegations that it's refusing to comply with an arbitrator's summons in a Bermuda-based financial firm's dispute involving an ex-employee and a noncompete agreement.
July 02, 2025
Atkins Says SEC Is Taking A Fresh Look At SPAC Regulations

U.S. Securities and Exchange Commission Chair Paul Atkins said Wednesday that regulators are reviewing recently beefed-up rules governing special-purpose acquisition companies as part of a broader policy of increasing public listings.
July 02, 2025
SEC Says Ex-Calif. Atty, Execs Facilitated $112M Stock Fraud

The U.S. Securities and Exchange Commission has filed suit against a disbarred California attorney and several CEOs of penny stock companies, claiming that they helped an outside party facilitate a $112 million pump-and-dump fraud scheme.
July 02, 2025
SpaceX Investor Wins $1 After Suing Over $50M Deal Scratch

A China-tied company that sued a California-based private equity firm for walking back a purported agreement to make a $50 million investment in SpaceX in November 2021 has won a single dollar in damages after a three-year, multiclaim Delaware Court of Chancery suit and trial.
July 02, 2025
The Funniest Moments Of The Supreme Court's Term

After justices and oral advocates spent much of an argument pummeling a lower court's writing talents, one attorney suggested it might be time to move on — only to be told the drubbing had barely begun. Here, Law360 showcases the standout jests and wisecracks from the 2024-25 U.S. Supreme Court term.
July 02, 2025
Brainlab Delays Frankfurt IPO Amid Market Uncertainty

German medical technology business Brainlab SE said Wednesday that it will postpone its planned approximately €520 million ($612 million) initial public offering on the Frankfurt stock exchange, after it failed to announce the final price of its shares expected a day earlier.
July 01, 2025
The Sharpest Dissents From The Supreme Court Term

The term's sharpest dissents often looked beyond perceived flaws in majority reasoning to raise existential concerns about the role and future of the court, with the justices accusing one another of rewarding executive branch lawlessness, harming faith in the judiciary and threatening democracy, sometimes on an emergency basis with little briefing or explanation.
July 01, 2025
Crypto Developer Fights To Keep Money Transmitter Suit Alive

A crypto crowdfunding software developer has said in federal court that the U.S. Department of Justice should face a lawsuit that seeks to protect software firms from enforcement action, arguing that previous actions taken by the department jeopardize the future of his forthcoming crypto venture.

Expert Analysis

Series

Performing As A Clown Makes Me A Better Lawyer

To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.
A Guide To Permanent Capital Vehicles As Access Widens

Recent regulatory and legislative actions are making it easier for retail investors to access permanent capital vehicles like closed-end, interval, tender offer and open-end funds, which each offer distinct advantages that are important to review, say attorneys at Mayer Brown.
How Dfinity Timeliness Ruling Can Aid Crypto Issuers

A California federal court's recent dismissal of a class action against Dfinity, holding that the claims were time-barred by the Securities Act's three-year statute of repose, provides a useful defense for cryptocurrency issuers, which often solicit investments years before minting and distributing the associated tokens, say attorneys at Paul Weiss.
The CFTC Is Shaking Up Sports Betting's Legal Future

The sports betting industry faces a potential sea change amid recent state and federal actions across the regulatory landscape that have expanded access to sporting event contracts against the backdrop of waning Commodity Futures Trading Commission opposition, says Nick Covek at Foley & Lardner.
Series

Law School's Missed Lessons: Rejecting Biz Dev Myths

Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.
Move Beyond Surface-Level Edits To Master Legal Writing

Recent instances in which attorneys filed briefs containing artificial intelligence hallucinations offer a stark reminder that effective revision isn’t just about superficial details like grammar — it requires attorneys to critically engage with their writing and analyze their rhetorical choices, says Ivy Grey at WordRake.
Early Trends In Proxy Exclusion After SEC Relaxes Guidance

The U.S. Securities and Exchange Commission’s recent guidance broadening shareholder proposal exclusion under Rule 14a-8 has been undoubtedly useful to issuers this proxy season, but it does not guarantee exclusion, say attorneys at Debevoise.
9th Circ. Has Muddied Waters Of Article III Pleading Standard

District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.
Series

Competing In Modern Pentathlon Makes Me A Better Lawyer

Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
Atkins' Crypto Remarks Show SEC Is Headed For A 'New Day'

A look at U.S. Securities and Exchange Commission Chairman Paul Atkins' recent speeches provides significant clues as to where the SEC is going next and how its regulatory approach to crypto will differ from that of the previous administration, say attorneys at Eversheds Sutherland.
Series

Law School's Missed Lessons: Teaching Yourself Legal Tech

New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.
Texas Targets Del. Primacy With Trio Of New Corporate Laws

Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
How AI May Reshape The Future Of Adjudication

As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
When Legal Advocacy Crosses The Line Into Incivility

As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.
Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet

Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.