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Asset Management
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June 27, 2025
Hinshaw Continues Finance Growth With Goldman Sachs Atty
Hinshaw & Culbertson LLP announced today that a former vice president and senior legal director at Goldman Sachs Bank USA has returned to firm life as a senior counsel in its New York office.
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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 27, 2025
3 DOL Policy Shifts On Benefits Attys' Radar
Since President Donald Trump's administration took over in January, the U.S. Department of Labor has changed its tack on several issues related to employee benefits. Here, Law360 looks at three moves that caught lawyers' attention.
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June 27, 2025
B. Riley Divests Advisory Services Biz In $118M PE Deal
Financial services company B. Riley Financial Inc., advised by Cole Schotz PC, announced Friday the sale of its advisory services business to funds managed by Canadian private equity shop TorQuest Partners in a $117.8 million deal.
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June 27, 2025
NC Biz Court Bulletin: Last-Minute Settlements Head Off Trials
Untouched by the summer slump, the North Carolina Business Court kicked off June with a sanctions order against a biogas company caught spurning court orders and a new complaint by a former NFL player accusing his longtime financial adviser of defrauding him for decades.
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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
CSBS Issues Money Transmitter Guidance on Virtual Currency
The Conference of State Bank Supervisors on Thursday released advisory guidance on how to consider virtual currency when calculating a licensee's tangible net worth under the Money Transmission Modernization Act, the first set of recommendations to be published under the CSBS board of directors' newly established process for issuing nonbinding, advisory guidance.
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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
Natixis Beats Suit Claiming Self-Serving Funds Hurt Its 401(k)
Natixis defeated a 1,200-member class action Thursday claiming the French investment firm burdened its retirement plan with funds that performed poorly and benefited the company over employees, after a Massachusetts federal judge ruled the case lacked evidence of actionable lapses.
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June 26, 2025
'Pig Butchering' Scam Suit Dismissed For Good
An Alabama resident who sued two cryptocurrency firms and their CEO, accusing them of running a $28 million "pig butchering" scam that defrauded victims by laundering stolen cryptocurrency through a complex network of wallets, has jointly agreed with the defendants to dismiss the suit with prejudice.
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June 26, 2025
2nd Circ. Won't Void Aerospace Co.'s $5M Hedge Fund Loan
The Second Circuit has said a New York federal judge was correct in rejecting aerospace company Xeriant's bid to void a $5 million loan deal with Auctus Fund LLC, ruling that while the hedge fund was not registered with the U.S. Securities and Exchange Commission as a dealer, the contract didn't obligate it to do so.
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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.
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June 26, 2025
Ellenoff-Led Cantor Equity's Latest SPAC Raises $240M
Cantor Equity Partners III, the latest blank-check company formed by Cantor Fitzgerald & Co., has raised $240 million by offering 24 million shares at $10 apiece and began trading on Thursday.
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June 26, 2025
Latham, Weil Lead PE-Backed Jefferson Capital's $150M IPO
Private equity-backed consumer collections firm Jefferson Capital Inc. rallied in debut trading Thursday after pricing a $150 million initial public offering at the low point of its marketed range, represented by Latham & Watkins LLP and underwriters' counsel Weil Gotshal & Manges LLP.
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June 25, 2025
Fed Rolls Out Plan To Relax Leverage Rule For Biggest Banks
The Federal Reserve on Wednesday kicked off an effort to ease a key leverage requirement for the biggest U.S. banks, advancing a highly anticipated proposal that officials said could free up bank balance-sheet capacity to bolster the U.S. Treasury market.Â
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June 25, 2025
BigLaw Fixtures Steer Blockbuster Lakers Sale
Los Angeles Lakers minority owner Mark Walter unveiled his bid to assume control of the team Wednesday, enlisting Davis Polk & Wardwell LLP to guide acquisition of the team, with ArentFox Schiff LLP representing the Lakers.
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June 25, 2025
BofA Benefit Card Recipents Get Cert. In Covid Fraud MDL
A California federal judge has granted certification to five different classes in a multidistrict litigation alleging Bank of America NA's security failures exposed their unemployment and disability benefits cards to fraud and led the bank to breach their contracts by freezing all accounts during the COVID-19 pandemic.
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June 25, 2025
Anti-Aging Biotech Startup Minovia Inks $180M SPAC Merger
Minovia Therapeutics Ltd., an Israeli startup developing treatments for age-related decline, plans to go public in the U.S. at a $180 million valuation by merging with special purpose acquisition company Launch One Acquisition Corp., both parties announced Wednesday.
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June 25, 2025
PetroSaudi Slams Liquidators' Bid To Pause $380M Award Suit
A PetroSaudi unit pursuing enforcement of a $380 million arbitral award has asked a California federal judge to deny a request by the company's liquidators to pause a federal government suit targeting the award over its alleged connection to funds embezzled from Malaysia.
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June 25, 2025
SEC Grants Brokers More Time On Customer-Protection Rule
The U.S. Securities and Exchange Commission agreed Wednesday to extend until late June 2026 the time broker-dealers have to comply with recent amendments to a regulation protecting customers, saying that firms need more time to upgrade their operations.
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June 25, 2025
The 5 Big Enforcement Trends White Collar Attys Must Know
The Trump administration has made clear its intent to prioritize U.S. interests, eliminate transnational cartels and cut government fraud, waste and abuse — but questions remain about the administration’s approach to foreign bribery, crypto, public corruption, self-disclosure and clemency as we head into the second half of the year.
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June 25, 2025
NJ Accountant Admits To Role In $1.3B Easement Tax Scheme
A New Jersey accountant admitted to promoting fraudulent conservation easement tax shelters to wealthy clients in connection with a $1.3 billion scheme that triggered decades-long prison sentences for two ringleaders, the U.S. Department of Justice said Wednesday.
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June 25, 2025
Power Infrastructure Biz Takanock Nabs $500M Investment
Digital and power infrastructure solutions provider Takanock LLC, advised by Vinson & Elkins LLP, on Wednesday announced it had secured a $500 million investment from asset managers ArcLight and DigitalBridge.
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June 25, 2025
Tech-Focused SPACs Raise $408M Combined In New Listings
A pair of technology-focused special-purpose acquisition companies debuted on Wednesday after pricing two initial public offerings that raised $408 million combined, joining a wave of new SPAC listings, under guidance from five law firms.
Expert Analysis
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OCC Patriot Bank Order Spotlights AML Issues For Managers
The Office of the Comptroller of the Currency's focus on payments and prepaid card program managers in its recent consent order with Patriot Bank is noteworthy and shows regulators are unlikely to back down on enforcement related to Bank Secrecy Act/anti-money laundering, say attorneys at Troutman Pepper.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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How Tariffs May Affect Proxy Contests This Season
While global tariffs imposed by the Trump administration will certainly chill at least some activity this proxy season, and make defending contests significantly easier, there will likely be many new activist investments once there is more economic certainty, meaning more proxy fights this fall, say attorneys at Sidley.
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A Closer Look At New NYSE, Nasdaq Listing Rule Changes
The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.
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Opinion
GENIUS Act Can Bring Harmony To Crypto-Banking Discord
​​​​​​​By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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SEC Confidential Review Process Provides Issuers Flexibility
The U.S. Securities and Exchange Commission's recently announced enhancements to the process for confidentially submitting draft registration statements will be immediately impactful for issuers seeking to access the public capital markets, and should provide more grounds to explore and plan public offerings, say attorneys at Lowenstein Sandler.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.
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How The ESG Investing Rule Survived Loper Bright, For Now
A Texas federal court's recent decision in Utah v. Micone upholding the U.S. Department of Labor's 2022 ESG investing rule highlights how regulations can withstand the post-Loper Bright landscape when an agency's interpretation of its statutorily determined boundaries is not granted deference, say attorneys at Miller & Chevalier.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.