Capital Markets

  • August 11, 2020

    Split 5th Circ. Tosses Accountant's Suit Against SEC Judges

    A split panel of Fifth Circuit judges on Tuesday threw out a suit brought by an accountant who alleged the U.S. Securities and Exchange Commission's in-house judges are unconstitutionally protected from removal.

  • August 11, 2020

    FaceBank Files For IPO Following FuboTV Tie-Up

    Virtual entertainment company FaceBank Group on Tuesday filed for an initial public offering guided by Wilson Sonsini and Cooley LLP, just four months after it merged with sports-focused streaming service FuboTV and as sports games continue to face shutdowns over coronavirus concerns.

  • August 11, 2020

    2nd Circ. Rejects Lehman's $1B Clawback Effort

    The Second Circuit ruled Tuesday that a Lehman Brothers unit cannot claw back $1 billion in financial crisis-era payments distributed after Lehman filed for bankruptcy more than a decade ago, finding that the payments were protected by a safe harbor.

  • August 11, 2020

    New Group Aims To Elevate Voices Of Black Compliance Pros

    A Greenberg Traurig LLP attorney who previously worked at the Consumer Financial Protection Bureau launched an organization this week that seeks to expand opportunities for Black compliance and risk management professionals while changing corporate attitudes toward diversity from the top down.

  • August 11, 2020

    Coinbase Breaks With Major Blockchain Industry Group

    Coinbase said Tuesday it is leaving Blockchain Association, an industry group it helped found, citing "recent decisions" the cryptocurrency platform believes could "irreparably impair the credibility of the association."

  • August 11, 2020

    Biz Analytics Co. To Spend $500M On Bitcoin, Stock Buybacks

    Business analytics group MicroStrategy detailed its new capital allocation strategy Tuesday, announcing that it's making Bitcoin its principal holding in its reserves by buying $250 million worth of the cryptocurrency and that it would spend up to an equal amount of money on a stock buyback.

  • August 10, 2020

    Facebook Builds Group Focused On All Its Payment Initiatives

    Facebook is putting all of its payment initiatives under one roof with the creation of a group called Facebook Financial, or F2, headed by David Marcus, who oversees the Facebook-affiliated digital currency Libra, the social media giant confirmed Monday.

  • August 10, 2020

    Long Point Capital Sued Over 'Corrupt' Stock-Purchase Plan

    EYP Holdings noteholders have hit private equity firm Long Point Capital with a proposed securities class action in New York federal court, alleging that Long Point "exploited" EYP employees with equity by pushing them into selling their stock in exchange for uncollectible notes, bilking them out of millions.

  • August 10, 2020

    Settling Eventbrite Investors Say Virus Hurts Recovery Odds

    Eventbrite investors told a California federal judge they reached a $1.9 million settlement deal with the digital event management company, saying it seemed prudent to end their securities fraud suit amid a pandemic that makes large-scale, in-person events dangerous to hold.

  • August 10, 2020

    Uber Can't Escape Investor Suit Over Scandal-Scarred IPO

    A California federal judge said Uber must face a proposed securities class action alleging it duped shareholders about its numerous corporate scandals and downplayed risks ahead of its May 2019 initial public offering, saying there's enough to suggest that Uber may have overhyped its business prospects.

  • August 10, 2020

    Coronavirus Vaccine Contender CureVac Launches $200M IPO

    German biopharmaceutical company CureVac, which is working on a coronavirus vaccine, said Monday that it hopes to raise $200 million in an initial public offering led by Davis Polk and NautaDutilh.

  • August 10, 2020

    Kodak's $765M Loan Put On Hold Amid Stock Trading Scrutiny

    The federal agency that planned to fund Eastman Kodak Co.'s expansion into pharmaceuticals with a $765 million loan said the offer has been put on hold over "recent allegations of wrongdoing" related to stock trading around the time of the deal's announcement.

  • August 10, 2020

    Jones Day Guides Greystar To $600M Real Estate Debt Fund

    Greystar Real Estate Partners, advised by Jones Day, said Monday that it has finalized its second commercial real estate debt fund after securing $600 million from investors, with plans to primarily invest in debt issued by U.S.-government sponsored entities.

  • August 07, 2020

    Fintech-Driven SPAC Leads 2 IPOs Tapping Market For $1.27B

    FTAC Olympus Acquisition, the fourth blank-check company formed by management of financial services business The Bancorp, led a pair of blank-check companies that set terms Friday for initial public offerings aiming to raise a combined $1.27 billion, according to regulatory filings.

  • August 07, 2020

    Crypto Execs' Availability Disputed In Securities Suit

    Counsel in a proposed securities class action claiming Status Research engaged in an unregistered securities offering are at loggerheads over providing alternative service to the company's allegedly untraceable executives, with the parties disagreeing on whether a deal had been reached on service and accusing each other of making false assertions.

  • August 07, 2020

    JPMorgan Fights Class Cert. Bid In Interest Rate Swaps Suit

    JPMorgan Chase & Co. in a letter Friday pointed to two recent decisions in New York federal court and the Third Circuit that it says support the rejection of a class certification bid in an antitrust suit over interest rate swaps trading.

  • August 07, 2020

    White House Seeks 2022 Cutoff In China Listings Crackdown

    A White House task force issued policy proposals on Thursday that would give Chinese companies until 2022 to either comply with U.S. audit requirements or get delisted from U.S. exchanges.

  • August 07, 2020

    Winston & Strawn Launches ESG Advisory Team

    Winston & Strawn LLP has announced the launch of a new team that will focus on helping corporate boards and management teams navigate ethical investing and related legal issues, joining a trend among law firms as clients take a harder look at their investment practices.

  • August 07, 2020

    Latham & Watkins Brings On Transactional Tax Pro In Calif.

    Latham & Watkins LLP has brought on a Simpson Thacher & Bartlett LLP partner who is experienced in advising private equity firms and leading companies on a range of sophisticated transactions to the firm's transactional tax practice in the Bay Area.

  • August 07, 2020

    SEC Fines Rialto $350K For Mischarging Its Own Funds

    The U.S. Securities and Exchange Commission has fined private equity real estate firm Rialto Capital Management $350,000 for recouping costs and expenses from the wrong investment funds, according to a settlement Friday.

  • August 07, 2020

    Questions Linger Over Coinbase's Potential Public Listing

    Coinbase's potential public listing would mark a breakthrough toward mainstream acceptance for the cryptocurrency industry, experts say, though legal and practical questions swirl around how the U.S.'s best-known crypto exchange will go about its plans.

  • August 07, 2020

    Coronavirus Q&A: Cassin Real Estate Leader

    In this edition of Coronavirus Q&A, one of Cassin's real estate leaders discusses the challenges of building affordable housing amid the pandemic, but also the continued lending activity for those projects from Fannie Mae and Freddie Mac.

  • August 07, 2020

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen a U.K. insurance technology company take aim at PwC after an acquisition went south, a major cruise line sue to curb travelers' insurance claims, and the U.K.'s criminal investigator file for civil recovery from a real estate company. Here, Law360 looks at those and other new claims in the U.K.

  • August 07, 2020

    Senate Approves Peirce, Crenshaw As SEC Commissioners

    The U.S. Senate confirmed the nominations of Hester Peirce and Caroline A. Crenshaw as commissioners of the SEC by a voice vote on Thursday evening.

  • August 06, 2020

    5 Firms Assist Intercontinental Exchange's $11B Ellie Mae Buy

    Intercontinental Exchange Inc. has agreed to buy cloud-based mortgage platform Ellie Mae from private equity firm Thoma Bravo for roughly $11 billion, including debt, in a deal guided by five law firms, the companies said on Thursday.

Expert Analysis

  • Lesser-Known Litigation Funding Best Practices For Attorneys

    Author Photo

    Following the American Bar Association's recent publication of third-party litigation funding guidance, Jiamie Chen and Dai Wai Chin Feman at Parabellum Capital outline some additional considerations, including the ethical limitations on single-case funding and the futility of economic prenegotiations between attorneys and their clients.

  • Using Sidecar Funds As A Source Of Capital Amid Volatility

    Excerpt from Lexis Practice Advisor
    Author Photo

    Private investment fund sponsors seeking additional sources of capital to protect or enhance their portfolios may consider sidecar vehicles to help navigate pandemic-related liquidity issues, but should carefully analyze whether such structures would breach existing fund documents or agreements with limited partners, say Michael Suppappola and Emily O'Brien at Proskauer.

  • Opinion

    ADA Protects Lawyers With Disabilities, But We Must Do More

    Author Photo

    As an attorney with cerebral palsy, Danielle Liebl at Reed Smith says that while the 30-year-old Americans with Disabilities Act has protected her against discrimination, the legal industry must do more to accommodate lawyers with disabilities and make them more comfortable in self-identifying.

  • Perspectives

    Legal Deserts Threaten Justice In Rural America

    Author Photo

    Many small towns and rural counties have few lawyers or none at all, which threatens the notion of justice for all Americans and demands creative solutions from legislators, bar associations and law schools, says Patricia Refo, president of the American Bar Association.

  • How COVID-19 May Change Long-Term Aviation Outlook

    Author Photo

    Survival is an immediate concern for many airlines facing pandemic-related drops in air travel, which is exerting economic pressure that will fundamentally change the landscape for companies throughout the aviation ecosystem, say Matthew Herman and Amna Arshad at Freshfields Bruckhaus.

  • Using Blockchain To Settle Trades Could Alter Litigation

    Author Photo

    On the heels of Paxos Trust's and the Depository Trust Clearing Corp.’s recent interest in using distributed ledger technology to settle equities trades, analysts at The Brattle Group explore how having a record of every transaction can help answer a thorny damages question in securities class actions.

  • Analyzing Upward And Downward Trends In Legal Tech

    Author Photo

    Advances in legal technology are often accompanied by bombastic overstatements, but it is important to separate the wheat from the chaff by looking at where various technologies stand on the hype curve, says Lance Eliot at Stanford Law School.

  • What UK Insolvency Law Changes Mean For US Finance Cos.

    Author Photo

    In light of recent amendments to the U.K. insolvency regime that enhance restructuring options, introduce stay and moratorium powers, and include new safe harbors, U.S. financial institutions should determine whether rights under existing arrangements could be stayed, say attorneys at Allen & Overy.

  • Opinion

    ABA's New Guidance On Litigation Funding Misses The Mark

    Author Photo

    The American Bar Association should revise its recently approved best practices on third-party litigation funding as they do not reflect how legal finance actually works and could create confusion among lawyers, says Andrew Cohen at Burford Capital.

  • COVID-19 Is Straining Compact Between Utilities, Regulators

    Author Photo

    The Indiana Utility Regulatory Commission recently barred utilities from collecting late fees as COVID-19 strains their finances, but reducing previously approved sources of revenue to meet the utility's authorized revenue requirement may run afoul of the regulatory compact between utilities and their regulators, say Dane McKaughan and Todd Kimbrough at Holland & Knight.

  • What Firms Should Ask Before Hiring Attorneys From Gov't

    Author Photo

    In the final year of any presidential administration, there is an undeniable appetite on the part of large law firms for government-savvy legal talent, but firms need to first consider how they will actually utilize their new star hire, says Michael Ellenhorn at Decipher.

  • The Ethics Of Using Chatbots For Legal Services

    Author Photo

    Delegating legal work to robots involves several risks, including running afoul of statutes dictating unauthorized practice of law, but with the right precautions, law firms can lawfully employ artificially intelligent chatbots that can imitate human conversations, say attorneys at Haynes and Boone.

  • Changes To Del. Law May Boost Public Benefit Corp. Appeal

    Author Photo

    Recently adopted amendments to the Delaware General Corporation Law eliminate the most burdensome requirements of converting to a public benefit corporation, improve protections for stockholding directors, and limit shareholder litigation, which could prompt private companies to consider the formation strategy with fresh eyes, say attorneys at Freshfields.

  • Market Rebound May Curb Securities Class Actions, Damages

    Author Photo

    The stock market's dramatic recovery from its pandemic-prompted plunge may provide securities class action defendants an opportunity to rely on the Private Securities Litigation Reform Act’s rarely invoked bounce-back provision to ward off stock-drop claims, or sharply limit available damages, say John Schreiber and John Tschirgi at Winston & Strawn.

  • Opinion

    ABA Must Seize Opportunity To Respond To Bar Exam Chaos

    Author Photo

    The challenges of administering bar exams this year have put the future of the profession in jeopardy, but the American Bar Association at its ongoing annual meeting can adopt a resolution that would urge jurisdictions to take emergency actions with respect to licensure of new attorneys, says Nicholas Allard, former president of Brooklyn Law School.

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?
Beta
Ask a question!