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Capital Markets
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April 28, 2025
Tax Services Provider Andersen Files Confidential IPO Plans
Tax and legal services provider Andersen Group Inc. said Monday it confidentially filed for an initial public offering, marking a first step toward going public amid market volatility that has largely frozen IPOs in recent weeks.
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April 28, 2025
Wells Fargo Says Atty Is To Blame For SEC's EB-5 Fraud Suit
An immigration attorney claiming a Wells Fargo adviser led her astray has no one to blame but herself for being sued by the U.S. Securities and Exchange Commission for EB-5 investment fraud, the company told a Nevada federal court.
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April 28, 2025
Nasdaq Presses SEC To Enact Clearer Digital Asset Rules
Nasdaq is urging the U.S. Securities and Exchange Commission and its sister agency that regulates derivatives to adopt clearer rules governing digital assets, calling for a system that classifies such products into four categories.
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April 28, 2025
Defense-Focused SPAC Kochav Files $220M IPO
Defense- and aerospace-focused special purpose acquisition company Kochav Defense Acquisition has revealed plans to raise up to $220 million in an initial public offering, looking to list on the Nasdaq under the ticker symbol KCHVU.
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April 28, 2025
Chancery Tosses Palantir Suit Targeting Direct Sale Gains
Observing that corporate insiders can't be penalized for profiting from public information, a Delaware vice chancellor has thrown out a derivative suit filed by Palantir Technologies stockholders accusing the private company's directors and officers of unfairly profiting from direct-to-market stock sales without taking the company public.
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April 25, 2025
FINRA Urges Justices To Reject Constitutional Challenge
The Financial Industry Regulatory Authority on Friday called on the U.S. Supreme Court to turn away a case claiming that the regulator's in-house disciplinary process is unconstitutional, saying that there is no circuit split at issue and that the petition is "plagued with vehicle problems."
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April 25, 2025
Judge Orders Atlas Co. To Arbitrate $3.1M Fraud Suit
A Colorado federal judge on Thursday ordered an Australian online atlas startup to arbitrate its $3.14 million dispute with a consultant it hired for guidance while looking to gain access to U.S. capital markets, ruling that an arbitration clause in the underlying contract was applicable despite the company's fraud allegations.
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April 25, 2025
Judge Keeps Boeing Fraud Case In Chicago
An Illinois federal judge said Friday that equity funds accusing Boeing of defrauding investors by downplaying the 737 Max jets' safety flaws after a pair of deadly crashes in 2018 and 2019 must continue to litigate their claims in Chicago instead of having them heard in Virginia.
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April 25, 2025
Migration Agency Faces $100M EB-5 Investor Fraud Suit
A group of Chinese investors have filed a proposed class action accusing a Washington-based migration agency and a real estate investment group manager of fraudulently raising $100 million from overseas investors pursuing permanent U.S. residence via the EB-5 program with property that has now been auctioned off.
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April 25, 2025
Tesla, Allies Urge Reversal Of Musk's $56B Pay Veto
Pointing to solid Tesla stockholder approval of Elon Musk's $56 billion, multiyear compensation plan, the Chamber of Commerce's national office has urged Delaware's Supreme Court to reverse a Chancery Court strikedown of the plan and reconsider a $345 million winning-side class attorney fee.
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April 25, 2025
SPAC Deals Are Buzzing Again Despite Tariff Turmoil
Amid heavy volatility that has largely frozen traditional initial public offerings, deal teams are launching more special purpose acquisition companies, an alternative market to typical IPOs that so far has shown few ill effects from tariff-related uncertainty.
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April 25, 2025
Vinco Ventures Chair Pleads Guilty To Lying To Investors
The former executive chairman of Vinco Ventures' board of directors pled guilty Friday to lying to investors about the digital media and technology company's operations to artificially inflate its stock price.
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April 25, 2025
SPAC Raises $220M As It Eyes Partners In 'Disruptive' Sectors
Inflection Point Acquisition Corp. III began trading on the Nasdaq on Friday as it pursues a merger with a company operating in "disruptive growth industries" in North America or Europe, which it said could include "innovative, technology-enabled" businesses.
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April 25, 2025
Sullivan & Cromwell Adds V&E Shareholder Activism Leaders
Sullivan & Cromwell has added two seasoned corporate governance partners to its New York office, who most recently served as co-chairs of Vinson & Elkins' shareholder activism practice.
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April 25, 2025
Atkins Vows SEC Will Pursue 'Common-Sense' Crypto Policy
The U.S. Securities and Exchange Commission's new Chair Paul Atkins told crypto industry experts on Friday that the SEC will work to establish a "fit-for-purpose" framework for digital assets, while industry participants urged a principles-based approach to cover its rapid innovation.
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April 24, 2025
Judge Won't Halt Auction Over Unpaid SPAC Finder's Fee
A Florida federal judge denied a cloud company's request to halt an auction of its assets to collect a $2.4 million debt, finding that iCoreConnect failed to show it would likely win claims that PIGI Solutions LLC acted as an unregistered broker-dealer when advising on its merger with a blank check company.
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April 24, 2025
Investor Sues To Halt 'Cheap' VC Buyout Of Fla. Health Co.
A Florida health business investor sued its founder, its CEO, a venture capitalist firm and others over negligent misrepresentation in connection to a proposed buyout, alleging a proxy statement omitted conflicts of interest and included deceptive financial data in order to justify the company's "cheap" acquisition.
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April 24, 2025
Long Island Man Gets 18 Years For Father-Son Crypto Scam
A Long Island man convicted of cheating investors out of millions of dollars by falsely promising to serve as a broker for crypto sales while pocketing the funds was sentenced to 18 years in prison on Thursday.
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April 24, 2025
Trump's Regulatory Thaw On Crypto Reaches Federal Reserve
The Federal Reserve on Thursday scrapped guidance that had instructed banks to consult with it before taking up cryptocurrencies, marking the latest step in a broader push to ease regulatory friction for digital assets under President Donald Trump's administration.
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April 24, 2025
FINRA Says 5th Amendment Doesn't Apply In Adviser's Case
The Financial Industry Regulatory Authority has urged a Washington, D.C., federal court to toss a financial adviser's Fifth Amendment challenge against the self-regulating watchdog of brokers, arguing it is not subject to constitutional requirements when carrying out its self-regulatory responsibilities.
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April 24, 2025
Ex-CEO Of Trump-Tied SPAC Reaches Deal With SEC
The former CEO of the special purpose acquisition company that took President Donald Trump's social media platform public has reached a deal to end a U.S. Securities and Exchange Commission case accusing him of failing to timely alert investors to the prospective deal.
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April 24, 2025
2 SPACs Join Recovering Market With $461M In New Capital
Two special purpose acquisition companies raised $461 million combined through initial public offerings in the past two days in order to pursue mergers targeting several industries, represented by three law firms, extending an uptick in SPAC offerings despite broader market volatility.
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April 24, 2025
Nevada Asks Court To Toss Kalshi Sports Contract Suit
Gaming authorities in Nevada have urged a federal judge to dismiss a lawsuit brought against them by online trading platform KalshiEx LLC, telling the court that a state agency's efforts to stop the company from offering betting on sports and elections is on solid legal footing.
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April 24, 2025
8th Circ. Quizzes SEC About Fate Of Climate Regs
The U.S. Securities and Exchange Commission has been ordered by the Eighth Circuit to say whether it plans to withdraw or rewrite corporate climate disclosure rules that it is no longer defending in court, with the litigation surrounding the rules being put on hold at the request of several blue states until the agency discloses next steps.
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April 24, 2025
Ex-Bank GC Gets 4-Year Sentence In $7.4M Fraud Scheme
A former Webster Bank general counsel and corporate secretary was sentenced Thursday to four years behind bars after pleading guilty to spending nearly eight years embezzling $7.4 million and funneling at least some of the money through his personal attorney trust accounts.
Expert Analysis
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Top Considerations For Insurance Companies In 2025
As insurance industry participants look to plan for the year, regulatory changes, climate-related challenges, the ongoing effects of social inflation and the potential for significant mergers and acquisitions will be among the key items for insurer boards and management to have on their radar, say attorneys at Debevoise.
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Series
Adventure Photography Makes Me A Better Lawyer
Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.
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Future Of Crypto-Asset Classification Is In 2nd Circ.'s Hands
A definitive ruling from the Second Circuit in a rare interlocutory appeal in the U.S. Securities and Exchange Commission's ongoing court battle with Coinbase could finally establish clear guidelines on the classification of digital assets, influencing how they are regulated and traded in the U.S., say attorneys at Manatt.
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5 Ways To Create Effective Mock Assignments For Associates
In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.
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Assessing Gary Gensler's Legacy At The SEC
Gary Gensler's tenure as U.S. Securities and Exchange Commission chair is defined by a record of commonsense regulation in some areas and social activism in others, and by increasing judicial skepticism about the SEC's authority to fulfill its regulatory, enforcement, administrative law and adjudicatory functions, say attorneys at Arnold & Porter.
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Calif. Cannabis Decision Deepens Commerce Clause Divide
In Peridot Tree v. Sacramento, the Eastern District of California joined a growing minority of courts that have found the dormant commerce clause inapplicable to state-regulated marijuana, and the Ninth Circuit will soon provide important guidance on this issue, say attorneys at Perkins Coie.
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Takeaways From DOJ Fraud Section's 2024 Year In Review
Attorneys at Paul Weiss highlight notable developments in the U.S. Department of Justice Fraud Section’s recently released annual report, and discuss what the second Trump administration could mean for enforcement in the year to come.
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Recent Suits Show Antitrust Agencies' Focus On HSR Review
The U.S. Department of Justice's suit this month against KKR for inaccurate and incomplete premerger filings, along with other recent cases, highlights the agency's increasing scrutiny of Hart-Scott-Rodino Act compliance for private equity firms, say attorneys at Willkie.
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The 7th Circ.'s Top 10 Civil Opinions Of 2024
Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2024, and explain how they may affect issues related to mass arbitration, consumer fraud, class certification and more.
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What's Next For Accounting Enforcement After SEC's Big 2024
The U.S. Securities and Exchange Commission under the Trump administration will likely continue to focus enforcement efforts on many of the same accounting and auditing issues that it pursued over the past year — but other areas, such as ESG, internal controls and cryptocurrency cases, may fall out of focus, say attorneys at Debevoise.
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Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
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Insights For Finance Firms, Regulators From House AI Report
Though a U.S. House of Representatives report encourages the financial sector to embrace artificial intelligence tools, its focus on ensuring high-quality datasets, transparent development and equitable access underscores that firms and regulators must strike a delicate balance between technological innovation and responsible implementation, says Brendan Palfreyman at Harris Beach.
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UPS Penalty Demonstrates Goodwill Impairment Red Flags
The U.S. Securities and Exchange Commission's recent $45 million penalty against UPS for withholding reports of goodwill impairment should warn investors to watch for the telltale signs of companies inflating their worth by delaying tests that would reveal similar declines in the value of intangible assets, say attorneys at Labaton Keller.
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Series
Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
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5 Litigation Funding Trends To Note In 2025
Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.