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Capital Markets

  • April 24, 2019

    Wirecard Wins $1B Investment As Regulator Seeks Probe

    Payment company Wirecard announced Wednesday it has won a €900 million ($1 billion) investment pledge from a Japanese technology giant, despite having come under scrutiny by the German financial regulator over allegations of market manipulation.

  • April 23, 2019

    'Deception And Greed' Drove Platinum Fraud, Jury Hears

    A New York federal jury on Tuesday heard opening arguments in the long-awaited fraud trial of former Platinum Partners executives accused of conning the now defunct $1 billion hedge fund's investors, with a prosecutor saying the case boils down to "deception and greed."

  • April 23, 2019

    Puerto Rico Fed Board Wants High Court Take On Its Makeup

    Puerto Rico's financial oversight board Tuesday asked the U.S. Supreme Court to overturn a First Circuit finding that its members were unconstitutionally appointed, saying the decision ignored two centuries of law on how U.S. territories are run.

  • April 23, 2019

    Gov't Drops Software Exec Spoofing Case After Mistrial

    An Illinois federal judge on Tuesday permanently tossed federal prosecutors' case against an Illinois software executive who they claimed made a program he knew would help a trader to spoof the commodities market, after a jury deadlocked on those charges at trial.

  • April 23, 2019

    Emulex Doomed By Procedural Issues In Tender Offer Case

    The U.S. Supreme Court’s unusual decision Tuesday to drop an appeal after hearing oral arguments caught many court watchers off guard, yet a procedural issue unique to Emulex Corp.'s dispute involving the standard for bringing certain tender offer claims is the likely culprit.

  • April 23, 2019

    Chinese E-Commerce Cos., Brewing Co. Launch IPOs

    A pair of Chinese e-commerce companies led by Skadden launched initial public offerings on Monday and an Oklahoma restaurant operator launched its own offering Tuesday, a trio of deals that could raise a combined $427.5 million if they all price at the top of their respective ranges.

  • April 23, 2019

    Real Estate Rumors: Oaktree, United Community Bank, Natixis

    An Oaktree venture is reportedly seeking north of $330 million for the Chicago Board of Trade Building, Home Communities is said to have scored $18.52 million in construction financing from United Community Bank for a Florida senior living project, and Natixis has reportedly provided $734 million in CMBS debt for multiple California residential towers.

  • April 23, 2019

    Deals Rumor Mill: Centerbridge, Pampa Energia, Leong Hup

    Centerbridge Partners is reportedly discussing a deal to snap up Advisor Group, Pampa Energia is mulling selling off its majority stake in Edenor, and poultry producer Leong Hup wants to raise as much as $291 million in a May initial public offering.

  • April 23, 2019

    Macquarie Says Investors’ Stock-Drop Suit Oversells Evidence

    Macquarie and its executives asked a New York federal judge Monday to nix a stock-drop lawsuit by investors alleging it misled them about the health of its liquid storage business, arguing the shareholders are attempting to manufacture a pattern of deception by the infrastructure company.

  • April 23, 2019

    Cooley-Led Biotech Nixes IPO, Scores $142M Funding Round

    Cancer-focused biotechnology firm Poseida Therapeutics Inc. has decided to put plans for an initial public offering on hold, with the Cooley LLP-guided company instead picking up $142 million in a funding round led by pharmaceutical giant Novartis.

  • April 23, 2019

    Netflix Borrowing $2B To Fund Growth, Content Expansion

    Streaming giant Netflix on Tuesday said it plans to borrow $2 billion through a private bond offering denominated in U.S. dollars and euros, raising fresh capital that can be used to acquire new content.

  • April 23, 2019

    Claims Trimmed In $2.9M Health Care Investment Fraud Suit

    An investment firm's securities fraud suit accusing two former business partners of stealing $2.9 million through a bogus health care venture largely survived Tuesday after a Florida federal judge tossed two of five claims due to insufficient pleading.

  • April 23, 2019

    Justices Drop Emulex Appeal Over Tender Offer Suits

    The U.S. Supreme Court on Tuesday punted a decision about the appropriate standard for alleging false statements and omissions related to tender offers and whether private plaintiffs can bring such lawsuits at all. 

  • April 22, 2019

    Creditors' Effort To Sue On Puerto Rico's Behalf Rebuffed

    The unsecured creditors' committee in Puerto Rico's financial restructuring proceedings is facing considerable pushback in its bid to potentially sue over the past issuance of billions in commonwealth debt, seeing recent challenges from the island government, federal control board, and commonwealth bondholders.

  • April 22, 2019

    Davis Polk-Led Chinese Streaming Platform Files $500M IPO

    Chinese gaming-focused streaming platform DouYu International Holdings on Monday unveiled plans for a $500 million initial public offering steered by Davis Polk & Wardwell LLP, as the private equity-backed company looks to expand its esports offerings and improve marketing and technology capabilities.

  • April 22, 2019

    CFTC Accuses Florida Forex Trading Firm Of $75M Fraud

    The Commodity Futures Trading Commission unsealed a lawsuit Monday accusing a Florida trading firm of running a $75 million foreign currency trading fraud scheme that duped more than 700 investors.

  • April 22, 2019

    PE-Backed Women's Fashion Retailer Torrid Pulls $100M IPO

    Private equity-backed Torrid said it is no longer pursuing an initial public offering, canceling plans to go public nearly two years after the women’s fashion brand initially announced its intent to hit the market.

  • April 22, 2019

    4 Cos. Launch IPOs Totaling $650M Led By Mobile Games Biz

    Four companies launched plans on Monday for initial public offerings that could raise at least $650 million combined next week, led by a casino-style mobile games operator, revealing that IPOs are about to resume after a brief holiday-related pause.

  • April 22, 2019

    Tesla Shrinks Board Following Independence Concerns

    Tesla Inc. is shrinking its board of directors from 11 to seven following criticism of directors' independence after CEO Elon Musk's now infamous going-private tweet.

  • April 22, 2019

    Feds Say Ex-JPMorgan Trader Can’t 'Redraft' Rigging Case

    Prosecutors are asking a New York federal judge not to accept a former JPMorgan currency trader’s “redraft” of the indictment charging him with a conspiracy to rig foreign exchange markets.

Expert Analysis

  • Rebuttal

    Jury Trials, Though In Decline, Are Well Worth Preserving

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    In a recent Law360 guest article, the author applauded the disappearance of jury trials as an inefficient, costly mechanism, but in doing so he overlooked the greater value of jury trials for our justice system, says Stephen Susman, executive director of the Civil Jury Project at NYU School of Law.

  • A Broader View Of The US Supreme Court Bar

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    During the past 15 years, three widely read articles bolstered by starstruck media have promulgated the incorrect perception — sorely in need of revision — that the U.S. Supreme Court bar is limited to a handful of elite lawyers, says Lawrence Ebner of Capital Appellate Advocacy.

  • New FinCEN Action Is A Warning To P2P Crypto Exchangers

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    The Financial Crimes Enforcement Network recently assessed its first civil penalty against a peer-to-peer exchanger of convertible virtual currency, indicating that virtual currency exchanges of any size that fail to comply with the Bank Secrecy Act do so at their own peril, say Wade Thomson and E.K. McWilliams of Jenner & Block.

  • Opinion

    Post-Lucia, It’s Deja Vu With The SEC

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    Given last year's U.S. Supreme Court ruling that the U.S. Securities and Exchange Commission administrative law judge who tried Raymond Lucia's case had not been constitutionally appointed, Lucia should not be facing an SEC ALJ again on remand, says Joel Nolette of Mintz.

  • Justices Could Trigger Sea Change For Tender Offer Suits

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    U.S. Supreme Court oral arguments Monday in Emulex v. Varjabedian — a case that could alter the landscape of tender offer litigation under Section 14(e) of the Securities Exchange Act — confirmed the potentially significant nature of the forthcoming decision, as well as the justices’ sharp divide on the issues, say attorneys with Ropes & Gray.

  • Opinion

    Jury Trials Are In Decline For Good Reason

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    A recent Law360 article reported on federal judges bemoaning jury trials' nationwide decline, but these laments are unfounded as jury trials have been replaced by better alternatives, says J.B. Heaton of J.B. Heaton Research.

  • New SEC Staff Guidance Could Leave Mutual Funds In A Bind

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    Recent U.S. Securities and Exchange Commission staff guidance asked mutual funds to postpone the effective date of their registration statements if they are unable to respond to staff comments in a timely fashion. But complying with such a request could leave a fund without an effective registration statement, say Gretchen Passe Roin and Seth Davis of WilmerHale.

  • Series

    Why I Became A Lawyer: A Circuitous Path To The Law

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    Instead of going to college after high school, I followed in my father’s footsteps and became an electrician. Later I became an electrical engineer, and then an IP attorney. Every twist and turn along the way has made me a better lawyer, says Joseph Maraia of Burns & Levinson.

  • Despite TurnKey, SEC Will Try To Regulate Most Digital Assets

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    A careful reading of the U.S. Securities and Exchange Commission's new digital assets framework suggests that the TurnKey no-action letter — issued on the same day — is a rare exception to the SEC's general approach, say Deborah Meshulam and Benjamin Klein of DLA Piper.

  • Series

    Judging A Book: Conrad Reviews 'The Jury Crisis'

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    In "The Jury Crisis," jury consultant and social psychologist Drury Sherrod spotlights the vanishing jury trial, providing a fascinating canary-in-the-coal-mine warning for lawyers, litigants and society at large, says U.S. District Judge Robert Conrad of the Western District of North Carolina.