Capital Markets

  • August 12, 2022

    Venezuela Oil Co. Blasts Claims Of Evading $166M Debt

    Venezuela state-owned oil company PDVSA on Thursday fought back against allegations it is trying to exploit U.S. sanctions to avoid paying back some $166 million owed under a 2017 loan, telling the Second Circuit a creditor is wrongly trying to "gouge" it during a humanitarian crisis.

  • August 12, 2022

    Don't Miss It: Wachtell, Willkie Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Wachtell Lipton Rosen & Katz and Willkie Farr & Gallagher LLP.

  • August 12, 2022

    Voyager Looks To Pause Canadian Class Action Amid Ch. 11

    Cryptocurrency platform Voyager Digital wants to pause a securities class action filed in Canadian court against the company and its top officials while it hurtles through Chapter 11, telling a New York judge the lawsuit would interfere with the resolution of the bankruptcy case.

  • August 12, 2022

    5 State-Owned Chinese Cos. To Delist From NYSE

    Five of China's largest state-owned companies announced plans Friday to voluntarily delist from the New York Stock Exchange amid an audit dispute with U.S. regulators that threatened to kick them and hundreds more Chinese companies off U.S. exchanges.

  • August 12, 2022

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    General counsel should be aware of indirect ramifications of the Inflation Reduction Act that's likely to become law, and industry observers are watching how quickly companies will be required to notify officials under new measures that push for more visibility into cyberattacks. These are some of the stories in corporate legal news you may have missed in the past week.

  • August 12, 2022

    Ex-Platinum Exec Convicted In Bond Fraud Trial

    A New York federal jury on Friday convicted former Platinum Partners portfolio manager Daniel Small of participating in a complex scheme to defraud bondholders of a Texas oil and gas company, which prosecutors say steered $70 million in equity back to the hedge fund.

  • August 11, 2022

    Robinhood Can't Yet Ditch 'Meme Stock' Manipulation Claims

    A Florida federal judge on Wednesday refused to throw out investors' claims that Robinhood manipulated the stock market when it restricted trading on "meme stocks" during last year's market volatility, finding that they've plausibly alleged that Robinhood acted willfully to lower the prices of the affected stocks.

  • August 11, 2022

    SEC Sues Utah Securities Firm Over $54M Client Asset Move

    A Utah securities firm faces U.S. Securities and Exchange Commission allegations that it violated federal anti-fraud provisions when it transferred roughly $54 million in client assets from client accounts to state unclaimed property accounts, the regulator has announced.

  • August 11, 2022

    Mobile Store Investor Sues Over 'Fake' EB-5 Scheme

    A truck accessory store and van investor has sued the people behind an allegedly fraudulent investment opportunity, accusing them of marketing the "fake investment" to people in Mexico, Taiwan and Vietnam looking to gain visas by investing in the United States.

  • August 11, 2022

    Ex-Wells Fargo Risk Exec Joins Texas Capital Bank

    An ex-risk management executive with big investment banks including Wells Fargo and JPMorgan Chase & Co. has joined Texas Capital Bank as its chief compliance officer, according to an announcement Thursday.

  • August 11, 2022

    Ground Lease REITs Safehold, IStar Reach Merger

    Real estate ground-leasing firms Safehold Inc. and iStar announced they will combine Thursday in a deal advised by Kirkland & Ellis that values iStar at nearly $1.6 billion.

  • August 11, 2022

    Deals Rumor Mill: CVS, PAI Partners, London Heathrow Airport

    CVS is in the running to buy Signify Health, Dyal Capital may purchase a stake in private equity firm PAI Partners, and Spain-based Ferrovial is weighing what to do with its 25% stake in London Heathrow Airport. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • August 11, 2022

    Ex-BlockFi Compliance Pro Joins Amazon-Backed Co. As CCO

    Amazon-backed collectibles marketplace Dibbs said Thursday it had hired the ex-compliance director at BlockFi as its chief compliance officer.

  • August 11, 2022

    Payment Tech Biz Kicks Off $100M Share Buyback

    Network International Holdings said on Thursday that it will launch a buyback of up to $100 million of its shares to return excess cash to investors as the payments technology company reported strong first-half earnings.

  • August 10, 2022

    Coinbase Says The SEC Is Investigating Its Asset Listing

    The U.S. Securities and Exchange Commission is looking into Coinbase Global Inc.'s asset listing process, staking programs and yield-generating products, the cryptocurrency exchange disclosed in a regulatory filing Tuesday.

  • August 10, 2022

    Mark Cuban Sued Over Voyager Digital Crypto 'Ponzi Scheme'

    "Shark Tank" personality and entrepreneur Mark Cuban was a key player in luring people into bankrupt cryptocurrency brokerage Voyager Digital's "unregulated and unsustainable fraud" that played out like a Ponzi scheme and cost consumers billions, according to a proposed securities class action filed Wednesday in Florida federal court.

  • August 10, 2022

    Platinum Exec Rips 'Evil' Case, Feds Say He's Key Player

    Prosecutors on Wednesday told a Brooklyn federal jury that a former Platinum Partners portfolio manager was the "linchpin" in a $70 million bond fraud scheme, while defense counsel denounced the "evil" case and said there's no evidence showing any intent to commit a crime.

  • August 10, 2022

    CFPB Puts Big Tech On Notice Over Digital Marketing

    The Consumer Financial Protection Bureau issued a rule Wednesday clarifying when digital marketers and purveyors of financial products are subject to consumer protection regulations, assuring Big Tech firms using modern marketing tactics that the rules apply to them. 

  • August 10, 2022

    Crypto 'Thought Leader' Blew Off Discovery, Faces Default

    A Turkish man described as a cryptocurrency "thought leader" is on the brink of losing a defamation suit for allegedly calling a crypto industry rival a terrorist, after a Florida federal judge found that he failed to comply with several orders in the case.

  • August 10, 2022

    Warren Leads Dem Call For OCC To Yank Its Crypto Guidance

    Sen. Elizabeth Warren, D-Mass., and other Democratic senators are calling on the Office of the Comptroller of the Currency to rescind guidance giving national banks a green light to engage in certain cryptocurrency activities, saying it "may have exposed the banking system to unnecessary risk."

  • August 10, 2022

    Redbox Shareholder Sues In Del. To Probe Chicken Soup Deal

    A Redbox Entertainment Inc. shareholder sued the company in Delaware's Chancery Court to investigate its pending merger with Chicken Soup for the Soul Entertainment Inc., filing the complaint just hours before a majority of stockholders approved the deal, which is expected to close Thursday.

  • August 10, 2022

    SPAC Investor Sues For $23.7M Fertitta Merger Kill Fee

    An investor in a special-purpose acquisition company about to wind down after a deal to buy Landry's restaurants and the Golden Nugget casinos fell through has sued in Delaware Chancery Court to prevent the SPAC's sponsors from pocketing $23.7 million in termination fees.

  • August 10, 2022

    JPMorgan Traders Guilty Of Spoofing But Beat RICO Charges

    An Illinois federal jury on Wednesday convicted two former JPMorgan traders on charges that they tricked outside commodities traders with fake precious metals orders to misrepresent market demand and maximize their own profits, but acquitted them and a third defendant of racketeering and conspiracy charges.

  • August 10, 2022

    Chinese Esports Streamer Gets OK For $15M Deal Over IPO

    A New York state judge on Tuesday conditionally blessed DouYu's $15 million global settlement with investors who say the Chinese esports platform failed to disclose that major shareholder Tencent Holdings was also funding a competitor at the time of DouYu's U.S. initial public offering.

  • August 10, 2022

    Sidley Austin Adds Private Equity, M&A Partner To NY Office

    Sidley Austin LLP has added a Jones Day veteran to boost its mergers and acquisitions and private equity practices in New York.

Expert Analysis

  • A Law Firm's Guide To Avoiding Client Conflicts

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    With the pace of law firm mergers accelerating, Mark Hinderks at Stinson reviews the conflict of interest rules that may derail a deal or cause a firm to lose a new or existing client, and how courts have filled in perceived gaps in the rules.

  • Understanding DC Circ.'s Agency Rule Withdrawal Debate

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    The D.C. Circuit's recent ruling that an agency must provide notice and an opportunity for comment when withdrawing a rule that has been filed for public inspection but not yet published in the Federal Register features a vigorous debate on the "point of no return" issue that has significant practical consequences whenever there is a change in administration, says Steven Gordon at Holland & Knight.

  • Considerations For Associates As Lateral Hiring Cools Down

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    Law firms are offering fewer signing bonuses and moving back to slower, more deliberate interview processes — a cue for associates to follow suit and consider the long-term advantages of a move instead of short-term financial gain, says Leeron Molloy at VOYlegal.

  • DeFi Participants Must Prepare For Potential Bankruptcies

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    As recent turmoil in the cryptocurrency markets spotlights decentralized finance platforms, it is critical for participants to consider how a DeFi platform bankruptcy would operate compared to other financial institution bankruptcy cases, say attorneys at DLA Piper.

  • Justices' EPA Ruling Didn't Move Needle On Chevron Doctrine

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    Though some suggest the U.S. Supreme Court’s recent decision in West Virginia v. U.S. Environmental Protection Agency marked the end of a doctrine requiring judicial deference to federal regulators, the ruling merely articulated well-developed precedent on the limits of agency authority, say Dan Wolff and Eryn Howington at Crowell & Moring.

  • Implications Of SEC Coinbase Case For Token Offerings

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    The U.S. Securities and Exchange Commission’s recent insider trading charges against a former Coinbase manager stand to be the best indication yet of the SEC's application of securities laws to tokens, and prudent gatekeepers should be aware of the factors the SEC relies on to prove its case, say Emily Garnett and Katelynn Bradley at Brownstein Hyatt.

  • Ethics Lessons From The Alex Jones Discovery Debacle

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    The botched production of a cache of texts and emails prior to Alex Jones' defamation trial, and a failure to take corrective actions, should remind attorneys of the potential pitfalls of discovery, their professional responsibilities throughout the process, and the possibility of severe sanctions, say attorneys at Harris Wiltshire.

  • Opinion

    Market Drops Show Tech Antitrust Reform Isn't Needed

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    Recent equity market declines — and technology history — cast doubt on the staying power of the tech platform lock-in effects used to justify proposed antitrust regulatory and legislative interventions, says Jonathan Barnett at the University of Southern California.

  • Perspectives And Tips For Capital Markets Associates

    Excerpt from Practical Guidance
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    Jonathan Schulman at Perkins Coie provides an overview of capital markets practice for associates, describing typical transaction types and common tasks, with practical tips about handling them successfully and taking advantage of learning opportunities.

  • Opinion

    How DOL Can Improve Proposed ESG Investment Rule

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    The U.S. Department of Labor’s soon-to-be-finalized rule on environmental, social and corporate governance considerations for retirement plan investments should be revised to avoid questionable market assumptions and to better facilitate fiduciaries’ regard for ESG factors, says Brantley Webb at Mayer Brown.

  • FinCEN's No-Action Letter Plan May Have Limited Impact

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    The Financial Crimes Enforcement Network's recently proposed no-action letter process for anti-money laundering compliance could provide clarity to financial services companies and promote their growth, but may also be limited by FinCEN's resources, approach and the lack of cross-regulator input, say Marc-Alain Galeazzi and Malka Levitin at MoFo.

  • Rulings Limiting Federal Agencies May Lead Congress To Act

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    Recent U.S. Supreme Court and Fifth Circuit rulings illustrate the judiciary’s growing skepticism of federal government agencies’ influence, which could prompt Congress to respond by limiting judicial power, says David Coale at Lynn Pinker.

  • Combating Implicit Bias In Alternative Dispute Resolution

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    Alternative dispute resolution requires a high degree of trust and belief that proceedings will be fair, so confronting implicit associations among neutrals through systemic and personal efforts is even more important in the ADR world, say arbitrators and mediators at JAMS.

  • How The Metaverse Will Affect Business And Legal Processes

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    It is time to start thinking about virtual reality's effects on cybersecurity, business dealings, case strategy and more, as the metaverse takes shape and organizations open banks, host law firm offices and create retail strategies digitally, says Samantha Green at Epiq. 

  • Crypto Litigation Claims, Defenses Industry Should Watch

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    Philip Stein at Bilzin Sumberg discusses common claims and counterarguments in recent cryptocurrency litigation that stakeholders should be aware of as declining investment value and the growing likelihood of new government regulation render the industry increasingly vulnerable.

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