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Capital Markets

  • December 14, 2018

    Sears, Cyrus Blast Swap Bidder's Objection To Notes Sale

    Sears Holding Corp. and debtor-in-place lender Cyrus Capital Partners have asked a New York bankruptcy court to reject a call to vacate the sale of $900 million in intercompany medium-term notes to Cyrus, calling it a ploy by a failed bidder to change the results.

  • December 14, 2018

    Loeb & Loeb Leads Blank Check's $70M IPO To Buy Health Biz

    Chardan Healthcare Acquisition Corp., a blank check company formed by investment bank Chardan Capital Markets LLC for the purpose of acquiring a health care business, raised $70 million in an initial public offering that was guided by Loeb & Loeb LLP.

  • December 14, 2018

    The Medicines Co. Prices $150M Private Notes Offering

    The Medicines Co. said late Thursday that it priced a $150 million private convertible senior notes offering, the proceeds of which the New Jersey-based biopharmaceutical company plans to use to fund the development of a therapy that has been shown to significantly reduce cholesterol linked to heart attacks and strokes.

  • December 14, 2018

    Investors Accuse Calif. Company Of Concealing Crypto Focus

    Investors in Sacramento, California-based Sunstock Inc. filed suit against the company Thursday in Boston federal court, saying it told the public it had a retail store, residential properties and a stockpile of silver when actually it was putting resources into crypto tokens.

  • December 14, 2018

    Chinese Fintech, Tiny House Maker Raise $99M Total In IPOs

    Chinese online consumer lending platform 360 Finance Inc. on Friday said it raised more than $51 million in an initial public offering, the same day Texas-based manufactured-home maker Legacy Housing Corp. said it raised $48 million in its own public offering.

  • December 14, 2018

    MVP: Simpson Thacher's Marisa D. Stavenas

    Marisa D. Stavenas of Simpson Thacher & Bartlett LLP steered several complex financing transactions on behalf of Hovnanian Enterprises Inc., which refinanced bonds via loans from Blackstone Group LP’s global credit arm, earning her a spot as one of Law360’s 2018 Capital Markets MVPs.

  • December 13, 2018

    Arent Fox Nabs Ex-Shearman Atty For DC Tax Practice

    Arent Fox has announced a former Shearman & Sterling LLP partner is joining the firm’s tax practice in Washington, D.C., to assist clients with domestic and international transactional tax issues.

  • December 13, 2018

    China's Wuxi Apptec Raises $1B In Hong Kong IPO

    Medical technology platform Wuxi Apptec Co. Ltd. said Thursday it raised more than $1 billion in an initial public offering on the Hong Kong Stock Exchange, marking the latest Chinese company to access Hong Kong’s international markets through a massive IPO in 2018.

  • December 13, 2018

    Senate Dems Call For Deutsche Bank Probe After AML Raid

    Two Senate Democrats called for a bipartisan investigation into Deutsche Bank AG's compliance with federal anti-money laundering laws and its correspondent banking operations in a letter to their colleagues in the Senate Banking Committee on Thursday, citing German authorities' recent raid on the bank and its "history of regulatory problems."

  • December 13, 2018

    Ellenoff-Led Blank-Check Co. CF Finance Scores $250M IPO

    CF Finance Acquisition Corp. began trading on the Nasdaq on Thursday after pricing a $250 million initial public offering guided by Ellenoff Grossman & Schole LLP, as the blank-check company sets its sights on an acquisition in the financial services or real estate services industries.

  • December 13, 2018

    Eletrobras Investors Get OK For $15M Bribery Settlement

    A New York federal court has approved investors' roughly $15 million settlement with Brazil's state-controlled power company Eletrobras, resolving allegations that executives misled shareholders about the company's financials to conceal their participation in a massive bribery scandal.

  • December 13, 2018

    The Biggest Securities Decisions Of 2018

    From district courts to the highest court, judges decided major issues in 2018 affecting the U.S. Securities and Exchange Commission’s enforcement process, the protections afforded to whistleblowers and the ability of investors and corporate defendants to pursue and defend themselves against securities claims.

  • December 13, 2018

    Steptoe Adds Blockchain Atty To Ranks In Chicago

    Steptoe & Johnson LLP has added a securities, cryptocurrency and blockchain pro from Barnes & Thornburg LLP as a partner in its Chicago office, the firm has announced.

  • December 13, 2018

    MVP: Latham's Greg Rodgers

    New York-based Latham & Watkins LLP partner Greg Rodgers helped steer Spotify through a headline-making direct listing, all while juggling the rest of his busy practice, earning him a spot as one of Law360’s Capital Markets MVPs.

  • December 12, 2018

    SEC Settles Fraud Claims With Developers Over EB-5 Offering

    Three Texas developers must pay over $51 million to settle securities fraud charges that they duped 90 Chinese investors into funding what they believed was a real estate project that would allow them to obtain permanent residency in the United States, the U.S. Securities and Exchange Commission announced Wednesday.

  • December 12, 2018

    AriseBank Execs Settle SEC's ICO Scam Claims For $2.7M

    Two top executives of the now-shuttered AriseBank have agreed to pay a combined $2.7 million to settle claims by the U.S. Securities and Exchange Commission that the cryptobank fraudulently raised money in an unregistered initial coin offering, the regulator told a Texas federal court on Tuesday.

  • December 12, 2018

    SEC Mostly Victorious In Suit Over Sloppy Action Reports

    A New York federal judge gave the U.S. Securities and Exchange Commission a partial win Tuesday in its suit against a brokerage firm that allegedly failed to file adequate and timely Suspicious Activity Reports, ruling the majority of SARs flagged by the agency contained "deficient narratives."

  • December 12, 2018

    Greenberg-Led Blank Check Co. Schultze Snags $150M In IPO

    Schultze Special Purpose Acquisition Corp. began trading on the Nasdaq Wednesday after taking in $150 million through an initial public offering guided by Greenberg Traurig LLP.

  • December 12, 2018

    Deals Rumor Mill: Uber, Warburg Pincus, Luckin Coffee

    Morgan Stanley will lead the IPO of Uber, which could value the ride-hailing giant at up to $120 billion, Warburg Pincus is launching a $1 billion joint venture that will invest in Chinese real estate, and China's Luckin Coffee has received a $200 million capital injection from private investors.

  • December 12, 2018

    Real Estate Rumors: Mill Creek, Deutsche Bank, WeWork

    Mill Creek Residential Trust has reportedly paid $27.1 million for a Seattle site where it plans a seven-story tower, Deutsche Bank and Societe Generale are said to have provided $265 million in securitized financing for a St. Louis mall, and WeWork is reportedly opening a second location in Coral Gables, Florida.

Expert Analysis

  • How To Work With Regulators During Internal Investigations

    David Chaiken

    The recent courtroom battle over the admissibility of statements made by former Deutsche Bank traders shines a spotlight on a potentially recurring problem — excessive government entanglement in an internal investigation. Counsel conducting such investigations should take certain steps to minimize the risk, say attorneys with Troutman Sanders LLP.

  • Merely A Setback For CFTC Market Manipulation Cases

    Daniel Chirlin

    The U.S. Commodity Futures Trading Commission last month suffered a stunning blow to its expansive interpretation of market manipulation in its case against DRW Investments. But this does not quite spell the end for such cases, says Daniel Chirlin of Walden Macht & Haran LLP.

  • Guest Feature

    The Subtle Art Of Fred Fielding

    Fred Fielding

    He was White House counsel to two presidents. When Reagan was shot, he explained the chain of command to a four-star general. And until a few years ago, many people still thought he was Deep Throat during the Watergate scandal. Fred Fielding of Morgan Lewis & Bockius may be the quintessential Washington insider. White and Williams attorney Randy Maniloff learned more.

  • What We Heard At The FTC Hearings: Day 14

    Barry Reingold

    The eighth hearing in the Federal Trade Commission’s series on competition in the 21st century addressed concerns that stock holdings by institutional investors of noncontrolling interests in competing portfolio companies may have anti-competitive effects. Barry Reingold of Perkins Coie LLP offers some key takeaways.

  • 10 Tips For Law Firms To Drive Revenue Via Sports Tickets

    Matthew Prinn

    Many law firms have tickets or luxury suites at sporting events to host clients and prospects. Matthew Prinn of RFP Advisory Group and Matt Ansis of TicketManager discuss some of the ways that firms can use those tickets effectively.

  • Inside Key ABA Guidance On Attorneys' Cybersecurity Duties

    Joshua Bevitz

    A recent opinion from the American Bar Association provides useful guidance on attorneys’ obligations to guard against cyberattacks, protect electronic client information and respond if an attack occurs, says Joshua Bevitz of Newmeyer & Dillion LLP.

  • Prudential Framework For Large Banks Is Set To Change

    Satish Kini

    The Federal Reserve Board recently issued two proposals that represent a significant change in the prudential regulation of large banking organizations. Attorneys with Debevoise & Plimpton LLP examine the notable aspects of the new framework.

  • A New, Focused Regulatory Agenda For The SEC

    Richard Marshall

    The U.S. Securities and Exchange Commission's regulatory agenda for the coming year — announced last week — is not excessively long, which means Chairman Jay Clayton takes it seriously and intends to act on it, says Richard Marshall of Katten Muchin Rosenman LLP.

  • Tax Reform Keeps Switzerland A Top Corporate Locale

    Danielle Wenger

    In this overview of the latest iteration of Swiss tax reform, Danielle Wenger and Manuel Vogler of Prager Dreifuss AG discuss key measures of the new reform and assess the impact for corporations.

  • Opening Comments: A Key Strategic Decision In Mediation

    Jann Johnson

    Opening comments by parties in mediation that are made with the proper content and tone can diffuse pent-up emotion and pave the way for a successful resolution. But an opening presentation can do more harm than good if delivered the wrong way, say Jann Johnson and William Haddad of ADR Systems LLC.