UPDATED June 16, 2020 | The COVID-19 pandemic has caused widespread economic hardship for businesses of all sizes, with stay-at-home orders just now starting to be lifted after months in effect. Among the bipartisan actions taken by the federal government to support the business community was a concerted effort to provide forgivable loans to small businesses.
Duddell Street Acquisition Corp., a Hong Kong-based blank-check company looking to acquire an Asian business with growth potential, went public Thursday after raising a $175 million initial public offering, steered by Davis Polk & Wardwell LLP and underwriters counsel White & Case LLP.
A California federal judge pushed for a sense of urgency Thursday as Epic Games and Google eye trial over the Fortnite maker's monopolization claims against the search giant, asserting that a two-year timetable envisioned by Google is unacceptably slow.
Digital banking company Chime Financial and its customers on Wednesday got initial approval of a proposed settlement agreement from a California federal judge, which would end claims stemming from disruption of the company's services in October 2019.
New York's Department of Financial Services issued guidance on Thursday saying that banks, cryptocurrency companies and other financial institutions under its oversight need to begin preparing for the financial impacts of climate change, becoming the first banking regulator in the U.S. to lay out such risk management expectations.
Data-driven marketing company Alliance Data said Thursday that it has inked a deal to buy digital payment company Bread in a $450 million cash and stock deal guided by Davis Polk and Simpson Thacher.
Dunkin' Brands could be sold for nearly $9 billion, Las Vegas Sands is weighing the potential $6 billion or more sale of its Las Vegas casinos, and Guitar Center may have to file for bankruptcy. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.
Online payment platform PayPal, working with Orrick Herrington & Sutcliffe LLP, announced Wednesday that it has invested $50 million in eight Black- and Latinx-led venture capital firms as part of its pledge to devote $530 million to supporting underrepresented communities and promoting racial equity.
The chief of the U.S. Securities and Exchange Commission's cyber unit and an ex-SEC enforcement attorney offered starkly different assessments regarding the agency's effectiveness in regulating cryptocurrency on Wednesday, highlighting the tension between the agency and the crypto industry.
Anthony Albanese, currently the chief regulatory officer of the New York Stock Exchange, is heading to venture capital firm Andreessen Horowitz where he will work on cryptocurrency regulation matters, the company announced on Wednesday.
The Office of the Comptroller of the Currency said Wednesday that it has granted conditional approval to Social Finance Inc.'s application for a full-service national bank charter, moving the online lender one step closer to launching SoFi Bank NA.
The Cooley-led parent company of a mobile phone-based auto insurance company headed a pack of five companies whose shares began trading on the stock market Wednesday, raising nearly $1.2 billion through initial public offerings steered by eight firms.
A divided U.S. Securities and Exchange Commission on Wednesday approved a rule that would regulate how mutual funds and other investment companies use risky derivatives to boost returns, seeking to replace a patchwork system with concrete standards.
PennyMac Loan Services LLC urged a Florida federal judge Tuesday not to give mortgage servicing software provider Black Knight Inc. an early win in a trade secrets suit, which PennyMac called "the epitome of needless litigation."
The U.S. Department of Justice asked a Massachusetts federal court Tuesday to enforce its demand for information from Bain & Co. Inc. and Visa Inc. as a part of the Antitrust Division's investigation into Visa's proposed $5.3 billion deal to acquire fintech company Plaid Inc.
Bill Hinman, the director of the U.S. Securities and Exchange Commission's Division of Corporation Finance, on Tuesday announced he will leave his role at the federal regulator before the end of the year.
The Office of the Comptroller of the Currency on Tuesday finalized a rule for ascertaining who the "true lender" is in a lending partnership between a federally chartered bank and another party, drawing swift condemnation from consumer advocates who argued the rule is a boon to predatory lending.
Payment methods company Repay, working with Troutman Pepper, revealed plans Tuesday to buy Alston & Bird-guided CPS Payment Services for $78 million in on-hand cash and extend the chance for CPS to earn $15 million more after hitting certain growth milestones.
Cryptocurrency company Dropil Inc. and two of its executives can't shed fraud claims they face in connection with the sale of their digital assets called Drops, a California federal judge has ruled.
The U.K. is still considering whether to pursue the creation of a digital currency alongside traditional legal tender, according to Tom Mutton, who is responsible for financial technology at the Bank of England.
An aging attorney told a Manhattan federal judge on Friday that as a result of attempts to enforce the $5.2 million judgment he faces, he doesn't have access to money he needs for basic necessities such as food and rent.
COVID-19-focused biotechnology firm Atea Pharmaceuticals Inc. set a price range Monday for an estimated $253 million initial public offering, one of two Latham-led drug developers to join a packed lineup of 15 operating companies planning to go public this week.
The Consumer Financial Protection Bureau has urged a Texas federal judge to reject a lawsuit from payday lender trade groups challenging the remainder of the agency's payday rule, saying their complaints about the regulations boils down to "policy disagreements" that aren't enough to carry the day.
Roughly four months after the compliance deadline for the U.S. Securities and Exchange Commission's landmark Regulation Best Interest, agency officials on Monday had a message for firms ironing out the language they use in the accompanying Form CRS: Keep it simple.
As banks and other financial institutions navigate regulations during the coronavirus pandemic, financial services law firm Murphy & McGonigle has hired a lawyer with financial expertise in Chicago to open the firm's first-ever office in the Windy City — the second office the firm opened this year.
Chinese digital finance giant Ant Group said Monday it expects to raise more than $34 billion through a potentially record-setting initial public offering on the Shanghai and Hong Kong stock exchanges, guided by five law firms.
Expected changes to the Volcker Rule will permit banks to invest in small and emerging venture capital funds, which could close the gap in financing for startups and small businesses outside the major investment hubs, says Lindsay Karas Stencel at Thompson Hine.
The tools of powerful political speeches — those with soaring rhetoric that convinces and moves listeners — can be equally applicable to oral advocacy, case strategy and brief writing, say Lauren Papenhausen and Julian Canzoneri at White & Case and former presidential speech writer Dave Cavell.
Former Georgia Supreme Court Chief Justice Robert Benham looks back at the racial barriers facing his first judicial campaign in 1984, and explains how those experiences shaped his decades on the bench, why judges should refrain from taking political stances, and why he was an early supporter of therapeutic courts that deal with systemic problems.
Parties must determine whether arbitration is better than litigation for their disputes amid pandemic-induced court delays by answering five key questions and understanding the importance of a clearly tailored arbitration clause, say attorneys at Goodwin.
Certain precautions can help lawyers avoid post-settlement malpractice claims and create a solid evidentiary defense, as settle-and-sue lawsuits rise amid pandemic-induced dispute settlements, say Bethany Kristovich and Jeremy Beecher at Munger Tolles.
A recent U.S. Securities and Exchange Commission proposal provides a welcome carveout that allows "finders" to connect issuers with investors without registering as brokers, but questions remain around the exemptive order's scope, and how it would interact with other state and federal securities law requirements, say attorneys at Goodwin.
Steps law firms can take to attract and keep the best lawyers amid the pandemic include diversifying expertise to meet anticipated legal demands, prioritizing firm culture, and preparing for prospective partners' pointed questions, says Brian Burlant at Major Lindsey.
Gerald Knapton at Ropers Majeski analyzes U.S. and U.K. experiments to explore alternative business structures and independent oversight for law firms, which could lead to innovative approaches to increasing access to legal services.
Christopher Jennison shares a view of his life working from home as a Federal Aviation Administration attorney preparing to first-chair a trial while splitting child care responsibilities with his lawyer wife.
As smart contracts grow in popularity, confusion over their definition, operation and effect requires careful consideration of how they may alter parties' legal rights and obligations, says Andrew Foreman at Porter Wright.
Josephine Bahn shares a view of her life working from home as an attorney at the Federal Deposit Insurance Corporation while splitting child care responsibilities with her lawyer husband.
The lack of clarity in the U.S. Small Business Administration's recent guidance on Paycheck Protection Program requirements for borrowers undergoing ownership changes is an example of how changing the pandemic relief program's rules on the fly could leave borrowers confused and potentially economically vulnerable, says Christine Price at Moritt Hock.
In this brief video, Flavia Rebello at Trench Rossi and Daniela Fonseca Puggina at Baker McKenzie explain why U.S. financial institutions that do not have a presence in Brazil should still be up to speed with its newly effective General Data Protection Law to avoid potential issues with Brazilian regulators and courts.
To achieve long-term reduction in their legal expenses, companies must look beyond law firm hourly rates and better distribute their legal work among high-cost premier firms, low-cost practitioners and alternative legal service providers, and their own in-house teams, says Nathan Wenzel at SimpleLegal.
To build the ranks of female trial attorneys, law firms must integrate them into every aspect of a case — from witness preparation to courtroom arguments — instead of relegating them to small roles, says Kalpana Srinivasan, co-managing partner at Susman Godfrey.