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Capital Markets
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June 30, 2025
Del. Justices Uphold State Sale Of Long-Dormant Stock
Rejecting a doctor's claim that the risk of a state seizure and sale of his long-unchecked stock was "inherently unknowable," Delaware's Supreme Court preserved on Monday a lower court's finding that the statute of limitations barred his attempt to reclaim securities purportedly worth some $600,000 when sold.
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June 30, 2025
Fla. Court Declines To Ax $70M 'Usurious' High-Rise Loan Suit
A Florida federal bankruptcy judge Monday declined to toss a Chapter 11 adversary lawsuit claim that a lender attempted to take ownership of a prized high-rise lot in downtown Miami through a "usurious" $70 million loan default, allowing parties to reargue their positions after an amended complaint was filed.
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June 30, 2025
Blackstone-Backed Cirsa Prices IPO For $2.9B Market Cap
Private equity-backed Spanish casino operator Cirsa Enterprises S.A.U. on Monday launched plans for an initial public offering that would give the company a €2.5 billion ($2.9 billion) market capitalization.
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June 30, 2025
Hong Kong's IPO Surge Creates More Competition For US
Hong Kong led global exchanges on new listings for operating companies in the first half of 2025, partly benefiting from a U.S.-China rift that is prompting more mainland China companies to seek secondary listings in Hong Kong, according to new data released on Monday.
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June 30, 2025
Ripple To Abandon Appeal After NY Judge Rebuffed SEC Deal
Ripple Labs CEO Brad Garlinghouse has said the blockchain firm plans to drop its appeal in its landmark case with the U.S. Securities and Exchange Commission, ending the matter after the New York federal judge overseeing the case refused to sign off on a settlement that would've truncated a court-ordered $125 million penalty.
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June 30, 2025
Justices Let Stand IRS' Summons For Coinbase User's Info
The U.S. Supreme Court rejected Monday a cryptocurrency investor's challenge to an IRS summons for his financial records from the exchange Coinbase, letting stand a First Circuit ruling that upheld limitations on privacy rights for records held by third-party financial institutions.
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June 30, 2025
High Court To Hear Fight Over Investment Fund Suits
The U.S. Supreme Court on Monday agreed to hear a case that could limit the ability of private parties to assert contract violations against investment funds, with one activist investor accusing several closed-end funds of shutting it out of its voting rights.
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June 30, 2025
Proskauer Taps Paul Weiss Atty To Lead US PE Deals Team
Proskauer Rose LLP announced Monday that it has hired a former Paul Weiss Rifkind Wharton & Garrison LLP attorney to lead its private equity transactions practice in the U.S. from the New York office.
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June 27, 2025
Crytpo Co. Boss Gets 8 Years For $40M Ponzi Schemes
A Brooklyn federal judge on Friday sentenced the head of multiple cryptocurrency companies to nearly eight years in prison for his role atop interrelated Ponzi schemes that raised over $40 million from investors based on false promises of guaranteed returns.
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June 27, 2025
Senate Republican Plan Would Cut ÃÛÌÒÊÓÆµ Funds, Keep PCAOB
U.S. Senate Banking Committee Republicans' latest budget bill plans have dropped a push to dismantle the Public Company Accounting Oversight Board and pivoted to a lesser — but still severe — cut to the Consumer Financial Protection Bureau's funding.Â
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June 27, 2025
Tribes Say Kalshi's Sports Contracts Undermine Sovereignty
A group of state and tribal gaming associations plus 27 federally recognized tribes have weighed in on a dispute between trading platform KalshiEx LLC and Maryland regulators, arguing that Kalshi's entrance into the gaming market has adversely impacted tribal gaming revenue and impeded tribes' inherent sovereign right to regulate gaming activity on tribal lands.
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June 27, 2025
Banks Get Clean Bill Of Health As Stress Test Changes Loom
The Federal Reserve said Friday that the nation's big banks are stocked with enough capital to weather a severe recession, giving them passing marks on what are poised to be the last round of stress tests before regulators begin overhauling the testing process.
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June 27, 2025
PE-Backed McGraw Hill, Consumer Researcher NIQ File IPOs
Educational publisher McGraw Hill Inc. and consumer research provider NIQ Global Intelligence PLC filed plans for initial public offerings Friday, marking a pair of large private-equity-backed companies set to join a recovering IPO market.
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June 27, 2025
Injunction OK'd In Ex-FTX Exec Ch. 11 Clawback Case
A Delaware bankruptcy judge approved a preliminary injunction Friday against former FTX executive Ryan Salame to prevent him from dissipating as much as $6 million in assets he is accused of taking from the cryptocurrency exchange prior to its 2022 collapse.
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June 27, 2025
Hagens Berman Client Loses Bid To Lead Super Micro Class
A California federal judge rejected a Hagens Berman Sobol Shapiro LLP client's bid to lead investor claims that Super Micro Computer Inc.'s shares fell roughly 20% after a short seller report accused it of violating its previous settlement with the U.S. Securities and Exchange Commission over accounting improprieties.
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June 27, 2025
FDIC, OCC Join Fed In Pitching Plan To Ease Leverage Rule
A Federal Reserve-backed proposal to relax a key leverage rule for the nation's biggest banks moved forward to the public comment stage Friday after securing approvals from the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency.
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June 27, 2025
MoFo, Latham Lead Medical AI Co. Carlsmed's $100M IPO
Carlsmed Inc., a spinal surgery solutions-focused medical technology company near San Diego, has unveiled plans for an initial public offering, telling regulators it is aiming to raise up to $100 million, with Morrison & Foerster LLP advising Carlsmed and Latham & Watkins LLP representing the underwriters.
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June 26, 2025
SEC Won't Modify More Biden-Era Off-Channel Settlements
The U.S. Securities and Exchange Commission declined Thursday to rework another batch of Biden-era settlements tied to so-called off-channel communications on Wall Street, turning down bids that challenged some terms as unfair in light of more lenient later deals.
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June 26, 2025
Hedge Fund's 'End Run' On Citgo Auction Rejected In NY
A New York federal judge on Wednesday explained his reasoning for shutting down litigation last month filed by affiliates of hedge fund Gramercy seeking to collect nearly $1 billion owed by Venezuela's state-owned oil company, criticizing the affiliates for their "lack of diligence."
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June 26, 2025
Hims & Hers Face Investor Suits Over Wegovy Collab
Telehealth company Hims & Hers Health Inc. has been hit with investors' proposed class actions accusing it of exploiting its partnership with Novo Nordisk, the distributor of weight loss drug Wegovy, to sell "knockoff" drugs, causing Hims shares to fall 35% when Novo Nordisk announced earlier this week the collaboration had been terminated.
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June 26, 2025
SEC Members Hint At Curtailing CEO Pay Disclosure Rules
The U.S. Securities and Exchange Commission's Republican majority Thursday expressed support for paring back disclosures requiring publicly traded companies to compare CEO pay to that of the median worker as well as reporting requirements that detail how executive pay stands up to financial performance.
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June 26, 2025
Del. Justices Mull New Appeal In $1.5B Pipeline Co. Cashout
An attorney for cashed-out minority unitholders of Boardwalk Pipeline Partners LP urged Delaware's Supreme Court to consider whether a controlling investor's interests "subverted" a crucial attorney fairness opinion used to justify a 2018, $1.5 billion deal that took the company private.
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June 26, 2025
GOP Sens. Aim To Finalize Crypto Market Bill By Sept. 30
Republican senators pledged Thursday to finish their digital asset market structure legislation by the end of September, stressing the urgency of delivering on President Donald Trump's aim to make the U.S. the cryptocurrency capital of the world.
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June 26, 2025
NY Judge Again Rejects Bid To Undo Ripple, SEC Judgment
A New York federal judge on Thursday rejected a joint request from the U.S. Securities and Exchange Commission and Ripple Labs Inc. to undo a permanent injunction and cut down the $125 million fine included in her final judgment in the landmark case.
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June 26, 2025
Lime Revs Up IPO, Crypto's Prospects Rise, And More Rumors
Uber Technologies Inc.-backed electric bike startup Lime is moving forward on a U.S. initial public offering, while more crypto ventures are seeking public listings and insurance giant BrightHouse inches closer to a sale. Here, Law360 breaks down the notable deal rumors from the past week.
Expert Analysis
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Opinion
The BigLaw Settlements Are About Risk, Not Profit
The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.
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Series
Brazilian Jiujitsu Makes Me A Better Lawyer
Competing in Brazilian jiujitsu – often against opponents who are much larger and younger than me – has allowed me to develop a handful of useful skills that foster the resilience and adaptability necessary for a successful legal career, says Tina Dorr of Barnes & Thornburg.
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Opportunities And Challenges For The Texas Stock Exchange
While the new Texas Stock Exchange could be an interesting alternative to the NYSE and the Nasdaq due to the state’s robust economy and the TXSE’s high-profile leadership and publicity opportunities for listings, its success as a national securities exchange may hinge on resolving questions about its regulatory and cost advantages, say attorneys at Norton Rose.
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Review Risk Is Increasing For Foreign Real Estate Developers
Federal and state government efforts have been expanding oversight of foreign investment in U.S. real estate, necessitating careful assessment of risk and of the benefits of notifying the Committee on Foreign Investment in the United States, say attorneys at Troutman.
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Series
Power To The Paralegals: An Untapped Source For Biz Roles
Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.
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The Legal Risks Of US Restrictions On Investments In China
The second Trump administration has continued to embrace a more restrictive economic policy toward China, including an ongoing review of further restrictions on the flow of U.S. capital to China, so early planning and enhanced diligence can reduce exposure to the challenges resulting from further restrictions, say attorneys at Cleary.
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Using Federal Forum Provisions To Nix State Securities Cases
A California appeals court's recent decision in Bullock v. Rivian clarifies that underwriters may enforce federal forum provisions to escape state court Securities Act claims, marking progress in restoring such lawsuits to federal court and reducing the litigation costs arising from duplicative state court litigation, say attorneys at Paul Weiss.
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Series
Playing Poker Makes Me A Better Lawyer
Poker is a master class in psychology, risk management and strategic thinking, and I’m a better attorney because it has taught me to read my opponents, adapt when I’m dealt the unexpected and stay patient until I'm ready to reveal my hand, says Casey Kingsley at McCreadyLaw.
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Does R-Squared Have A Role In Event Study Analysis?
With 2024 marking the second consecutive year to experience an increase in securities class action filings, determining the reliability of event study models is of utmost importance, but it's time to reconsider the traditional method of doing so, say analysts at StoneTurn Group.
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Opinion
Why It's Time To Retire The Efficient Market Hypothesis
As agentic artificial intelligence systems increasingly affect financial markets, the efficient market hypothesis no longer offers a viable foundation for legal and regulatory engagement, and a new theoretical foundation is needed, say Zachary Brenner, a student at California Western School of Law, and attorney Gary Brenner.
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Key Aspects Of FDIC's Resolution Planning FAQ
The Federal Deposit Insurance Corp.'s recent FAQ on changes to its resolution plan rule ease burdensome requirements for some large institutions and exempt others from discussion of franchise components, making it easier for banks to finalize submissions before the July 1 deadline, say attorneys at Moore & Van Allen.
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Series
Law School's Missed Lessons: Becoming A Firmwide MVP
Though lawyers don't have a neat metric like baseball players for measuring the value they contribute to their organizations, the sooner new attorneys learn skills frequently skipped in law school — like networking, marketing, client development and case evaluation — the more valuable, and less replaceable, they will be, says Alex Barnett at DiCello Levitt.
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What We Lost After SEC Eliminated Regional Director Role
Former U.S. Securities and Exchange Commission Regional Director Marc Fagel discusses the recent wholesale elimination of the regional director position, the responsibilities of the job itself and why discarding this role highlights how the appearance of creating a more efficient agency may limit the SEC's effectiveness.
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4th Circ. Latest To Curb Short-Seller Usage In Securities Suits
The Fourth Circuit's recent decision in Defeo v. IonQ will serve as a powerful and persuasive new precedent for corporate defendants as courts continue curtailing securities class action plaintiffs' use of short-seller reports to plead federal securities law claims, say attorneys at Alston & Bird.
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$38M Law Firm Settlement Highlights 'Unworthy Client' Perils
A recent settlement of claims against law firm Eckert Seamans for allegedly abetting a Ponzi scheme underscores the continuing threat of clients who seek to exploit their lawyers in perpetrating fraud, and the critical importance of preemptive measures to avoid these clients, say attorneys at Lockton Companies.