Capital Markets

  • November 25, 2024

    Hedge Fund-Backed SPAC Returns To Market With 3rd IPO

    Inflection Point Acquisition Corp. III, the third special purpose acquisition company affiliated with executives of hedge fund Kingwood Capital Management, filed plans on Monday for a $220 million initial public offering, guided by three law firms.

  • November 25, 2024

    SDNY's Williams To Resign Before Trump Takes Office

    Manhattan U.S. Attorney Damian Williams said Monday he will resign Dec. 13, clearing the way for President-elect Donald Trump's nominee, former U.S. Securities and Exchange Commission chair Jay Clayton, to run the office next year.

  • November 25, 2024

    Justices Nix Petition Over $17M Bolívar Artifacts

    The U.S. Supreme Court has turned away a Florida man's petition looking to revive his efforts to enforce a $17 million judgment against Venezuela, after he says the country lured him into turning over a collection of materials once belonging to South American Gen. Simón Bolívar.

  • November 22, 2024

    Split DC Circ. Punts On FINRA's Constitutionality

    A partially divided D.C. Circuit panel on Friday blocked the Financial Industry Regulatory Authority from removing Alpine Securities Corp. from its membership rolls while the corporation sues in federal court to challenge the agency's constitutionality, which the appeals court declined to remark on.

  • November 22, 2024

    Private Cos. Seek Pre-IPO Share Sales Amid Liquidity Crunch

    Following a dearth of initial public offerings in recent years, more private companies are arranging secondary-share sales to help employees and early investors pare down equity stakes without waiting for a public listing, a trend capital markets attorneys expect will continue for the foreseeable future, even if IPOs rebound.

  • November 22, 2024

    Lenders File Suit To Repossess 600 Crypto ATMs As Payment

    Two holding companies are asking a Pennsylvania federal judge to appoint a receiver to help them take possession of nearly 600 digital currency kiosk machines that their defaulted borrowers pledged as collateral for loans totaling $5 million.

  • November 22, 2024

    CFTC Advisers: Current Rules Work For Tokenized Collateral

    A U.S. Commodity Futures Trading Commission advisory group on Friday brought the commodities regulator a step closer to clarifying the use of certain tokenized assets as collateral, voting to tell the commission that existing rules can apply to the use of blockchain-based, noncash collateral.

  • November 22, 2024

    Democratic SEC Member To Step Down Amid GOP Takeover

    U.S. Securities and Exchange Commission member Jaime Lizárraga said Friday that he plans to step down before President-elect Donald Trump takes office, a day after SEC Chair Gary Gensler announced his plans to leave, further clearing the way for new Republican Party leadership.

  • November 22, 2024

    Capital One 'Abuses' Cast Pall Over Discover Deal, Dems Say

    As the Biden administration winds down with Capital One's bid to buy Discover Financial still pending, progressive Democrats led by Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez are putting renewed pressure on federal bank regulators reviewing the deal.

  • November 22, 2024

    Chinese EV Maker's European Unit Eyes $410M SPAC Merger

    Hudson Acquisition I Corp. and Aiways Automobile Europe GmbH said Friday they have inked an agreement to go public through a SPAC merger, with the electric vehicle maker achieving a $410 million pre-merger equity valuation. 

  • November 22, 2024

    Crypto Lobby Asks Trump, Congress To Prioritize Rulemaking

    Crypto industry group Blockchain Association sent a letter to President-elect Donald Trump and members of Congress on Friday detailing what the industry feels should be immediate priorities for the next administration, including implementing a regulatory framework for digital assets and installing more crypto-amenable agency heads.

  • November 22, 2024

    Off The Bench: NBA Ices Media Flap, Paul-Tyson Netflix Suit

    In this week's Off The Bench, the NBA settles a high-profile suit regarding its new media rights deal, and Netflix's buggy presentation of the Mike Tyson-Jake Paul fight draws a proposed class action.

  • November 22, 2024

    Taxation With Representation: Stradley Ronon, Davis Polk

    In this week's Taxation With Representation, Amcor PLC buys Berry Global Group Inc., AeroVironment buys BlueHalo, Robinhood Markets Inc. acquires TradePMR, and Comcast Corp. spins off a suite of NBCUniversal cable television networks.

  • November 22, 2024

    UPS To Pay SEC $45M For Improperly Valuing Freight Biz

    UPS has agreed to pay a $45 million civil penalty to resolve U.S. Securities and Exchange Commission claims that the shipping giant improperly valued one of its business units and misrepresented its earnings after failing to follow generally accepted accounting principles.

  • November 22, 2024

    High Court Quietly Pulls Meta Case Without A Ruling

    The U.S. Supreme Court on Friday set aside a Meta Platforms Inc. case that sought to narrow the types of risk disclosures corporations need to make to investors, saying that the court shouldn't have taken up the case in the first place.

  • November 21, 2024

    Special Master Ordered To Turn Over Citgo Pact To Venezuela

    A Delaware federal judge has ordered his court-appointed special master to give Venezuela an unredacted version of a stock purchase agreement in the upcoming auction of oil giant Citgo's parent company, ruling the document must be made available to the public as well as the republic.

  • November 21, 2024

    SEC Denied Civil Penalties Over Pot Pill Exec's 'Inexperience'

    The SEC will score $86,000 in disgorgement and interest from a former executive of C3 International Inc. for falsely claiming the company's cannabis pill was projected to generate millions of dollars in revenue, but the court found the defendant's conduct did not warrant the civil penalty the agency requested.

  • November 21, 2024

    Children's Place Investor Drops Suit After Counsel Rule Qualm

    A New Jersey federal judge agreed Thursday to let an investor who protested conditions the court placed on his pick for lead counsel to voluntarily toss his proposed class action against clothing retailer The Children's Place Inc.

  • November 21, 2024

    Forex Trader Gets 23 Years For $93M Investor Fraud

    A Colorado federal judge on Thursday sentenced a retired Marine convicted of wire fraud and conspiracy to 23 years in prison for his role in a scheme that swindled investors out of $93 million.

  • November 21, 2024

    Fed's Bowman Sees The Bright Side In Chevron's Demise

    Federal Reserve Gov. Michelle Bowman, a Republican seen as a potential Trump administration contender for the central bank's top supervision job, chided the regulatory response to last year's regional bank failures and said the U.S. Supreme Court's Loper Bright decision could "transform agency rulemakings positively."

  • November 21, 2024

    SEC Seeks More Data On Nasdaq Plan To Speed Up Delistings

    The U.S. Securities and Exchange Commission has postponed deciding on a Nasdaq proposal that would accelerate delistings of companies with low-priced stocks that take extended time to regain compliance or rely on reverse-stock splits to elevate their share prices, saying more data is needed before it takes action.

  • November 21, 2024

    Weed Co. Must Pay $5M To Entrepeneur In Investor Dispute

    A marijuana consulting firm must pay $5 million to a former business partner after allegedly derailing plans to purchase a marijuana grow facility in Michigan by convincing the main investors to put their money into a Colorado weed business instead.

  • November 21, 2024

    Prime Core's Ch. 11 Trust Sues To Reclaim $10M Payout

    The liquidating trust for Prime Core Technologies Inc., a troubled cryptocurrency technology business, sued in Delaware bankruptcy court Thursday to claw back what it described as a fraudulent transfer of more than $10 million that was paid to a creditor while the company was insolvent. 

  • November 21, 2024

    Grayscale Says Rival In $2M Suit Misled Bitcoin Investors

    Digital asset management firm Osprey Funds LLC "engaged in the same conduct" for which it is suing Grayscale Investments LLC in Connecticut state court, Grayscale said in defending itself against a $2 million lawsuit from its smaller rival while also countersuing for violation of the Connecticut Unfair Trade Practices Act.

  • November 21, 2024

    Dentons Atty Owed No Duty In $54M Currency Deal, Jury Says

    A Florida state court jury found Thursday that a former Dentons US LLP attorney didn't intentionally make a false statement or commit malpractice in a failed $54 million dollars-to-bolivares currency swap in which a Venezuelan lawyer lost millions of dollars.

Expert Analysis

  • How Ripple Final Judgment Fits In Broader Crypto Landscape

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    The Southern District of New York's recent $125 million civil penalty levied in U.S. Securities and Exchange Commission v. Ripple will have a broad impact on the crypto industry as it was the first to hold that blind sales of digital assets are not securities, even if deemed securities in other circumstances, say attorneys at BakerHostetler.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

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    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

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    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

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    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • 6 Considerations To Determine If A Cyber Incident Is Material

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    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Carbon Offset Case A Win For CFTC Enviro Fraud Task Force

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    An Illinois federal court's decision in Commodity Futures Trading Commission v. Ikkurty — earning the CFTC a sizeable monetary award that will likely incentivize similar enforcement pursuit — shows the impact of the commission's Environmental Fraud Task Force, say attorneys at Steptoe.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Foreign Threat Actors Pose Novel Risks To US Tech Cos.

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    A recent bulletin jointly issued by several U.S. intelligence agencies warns technology startups and the venture capital community about national security risks posed by foreign threat actors, so companies interested in raising foreign capital should watch for several red flags, say Robert Friedman and Jacob Marco at Holland & Knight.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

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