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Capital Markets
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May 09, 2025
Wells Fargo Execs Sued In Del. Over 'Sham' Diversity Efforts
A Wells Fargo stockholder launched a derivative suit on Friday in Delaware's Court of Chancery seeking damages from 17 of the banking giant's directors and officers for potentially billions in costs tied to alleged "sham" diversity-focused recruitment and hiring initiatives.
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May 09, 2025
Energy Group Backs States' BlackRock Coal Investments Suit
An energy industry advocacy group backed Texas and several other states' claims that BlackRock Inc. and other investment groups took advantage of their large holdings in publicly traded energy companies to drive up coal prices.
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May 09, 2025
Coinbase Accused Of Charging Hidden Crypto Trading Fees
Crypto traders have accused Coinbase of charging them hidden "spread fees" by deceptively inflating cryptocurrency prices and hiding the fees in the price quotes, in violation of California and New York's consumer protection laws.
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May 09, 2025
3 Firms Build Take-Private Deal Of Outsourcing Biz TaskUs
Outsourced digital services provider TaskUs Inc. on Friday announced plans to go private through a sale to a group that includes the company's co-founders and private equity giant Blackstone, in a transaction guided by Simpson Thacher & Bartlett LLP,聽Latham & Watkins LLP and聽Cravath Swaine & Moore LLP.
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May 09, 2025
Renewable Energy SPAC Taps Surging Market For $150M
EGH Acquisition Corp., a special purpose acquisition company targeting energy transition businesses, began trading Friday after raising a $150 million initial public offering, while another SPAC joined the pipeline as new filings continue to rise.
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May 09, 2025
Souter's Clerks Remember Him As Humble, Kind And Caring
Former clerks of retired U.S. Supreme Court Justice David H. Souter are heartbroken over the death of a man many of them remember more for his conscientiousness, humility, kindness and disdain for the spotlight than for his undeniable brilliance as a jurist.
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May 09, 2025
Off The Bench: Latest NIL Deal Fix, More WWE Court Troubles
In this week's Off The Bench, the NCAA tries again to get its multibillion-dollar compensation settlement approved, two sets of accusers draw Vince McMahon's history of misconduct at the WWE into their complaints, and the men's tennis tour was ordered to stop threatening players over joining an antitrust suit.
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May 09, 2025
Hiker And 'Raconteur': Atty Recalls 50-Year Bond With Souter
Behind a towering legal legacy was a man who loved to hike mountains, could recall details of things he read decades ago and was always there for those he cared about, a New Hampshire attorney said as he reflected on a lifelong friendship with U.S. Supreme Court Justice David Souter.
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May 09, 2025
A Look At David Souter's Most Significant Opinions
The retired Justice David Souter defied simple definition, viewed as a staunch conservative until he co-wrote an opinion upholding abortion rights in 1992. He did not hew to partisan lines, but reshaped the civil litigation landscape and took an unexpected stand in an extraordinarily close presidential election.
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May 09, 2025
McKernan Out As Trump's sa国际传媒 Pick, In For Treasury Role
President Donald Trump will pull Jonathan McKernan's nomination to run the Consumer Financial Protection Bureau and tap him instead for a top domestic finance job at the U.S. Treasury Department, a White House official confirmed to Law360 on Friday.
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May 09, 2025
Justice Souter Was An Unexpected Force Of Moderation
Justice David Souter, who saw the high court as a moderating force apart from the messiness of politics, subverted the expectations of liberals and conservatives alike during his 19 years on the bench.
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May 09, 2025
Ex-Goldman Banker Leissner Urges Lenient 1MDB Sentence
A former Goldman Sachs partner who pled guilty to his role in the 1MDB scandal and testified at his onetime colleague's trial has asked a Brooklyn federal judge to spare him prison time, saying the reputational harm is punishment enough and that he may be extradited to Malaysia to face charges there.
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May 09, 2025
Retired Supreme Court Justice David Souter Dies At 85
Retired Justice David H. Souter, who served on the U.S. Supreme Court from 1990 to 2009, has died at 85, the court announced Friday.聽
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May 08, 2025
Celsius Founder Gets 12 Years For Massive Crypto Fraud
The founder and former CEO of defunct Celsius Network on Thursday was sentenced to 12 years in prison for deceiving customers about the crypto lender's profitability and business practices, and falsely inflating the price of the platform's native token, CEL.
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May 08, 2025
OCC Axes Biden-Era Bank Merger Rule In Latest Reversal
The Office of the Comptroller of the Currency moved Thursday to roll back a Biden-era rule intended to dial up its scrutiny of proposed bank mergers, a reversal that comes amid a parallel repeal effort by Republicans in Congress.
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May 08, 2025
Senate Stablecoin Bill Stalls As Dems Pull Support
The Senate's proposal to regulate stablecoins failed a procedural hurdle on Thursday as Democrats pulled their support in hopes to negotiate stronger provisions, while Republican leaders accused holdouts of seeking to deny the Trump administration a bipartisan win around digital assets.
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May 08, 2025
Ex-Binance CEO Says He's Asked Trump Admin For A Pardon
Binance founder Changpeng Zhao said he has applied for a pardon from the Trump administration in the wake of a four-month prison term he served as part of a historic plea deal over the cryptocurrency exchange's anti-money laundering failures.
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May 08, 2025
Oppenheimer Slips Suits Over Fraudster's $110M Ponzi Scheme
A cohort of investors who said they were victims of a $110 million Ponzi scheme run by a former Oppenheimer & Co. Inc. adviser can't hold the investment firm liable for their losses, the Georgia Court of Appeals has said, ruling their losses were "at best, an indirect result" of the firm's alleged efforts to cover up the scheme.
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May 08, 2025
Nevada Can't Escape Sports Contract Suit, Kalshi Says
Online trading platform KalshiEx LLC told a Nevada federal court Thursday that gambling officials cannot dodge a lawsuit challenging their authority to prohibit the company from offering betting on sports and elections, saying the company's success in securing a preliminary injunction satisfies the motion to dismiss standard.
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May 08, 2025
Honest Co. IPO Investors Get Initial OK For $27.5M Settlement
Investors in actress Jessica Alba's "clean lifestyle" brand The Honest Co. Inc. have gotten an initial nod for their $27.5 million deal to end claims the company failed to disclose negative trends ahead of its 2021 initial public offering.
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May 08, 2025
SEC's Peirce Outlines Path To Exempt Tokenized Securities
The U.S. Securities and Exchange Commission's聽Hester Peirce on Thursday endorsed the creation of "regulatory sandboxes" that would encourage companies to develop trading systems for tokenized securities, enabling them to experiment with new technologies without certain registration requirements that govern stock exchanges.
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May 08, 2025
SafeMoon Fraud Turned Me Into A 'Monster,' Key Witness Says
A former SafeMoon developer told a Brooklyn federal jury Thursday that his "moral compass was skewed" by corruption at the cryptocurrency outfit, as he blamed the company's CEO for allegedly conspiring to loot the company.
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May 08, 2025
Nestle Eyes Potential $5B Water Unit Sale, And Other Reports
Nestle is planning to break off a piece of its business to focus, fittingly, on top-performing brands like Kit Kat and Nescafe, as it weighs a potential sale of its sparkling water-led unit at a $5.6 billion value, according to a Reuters report Thursday.
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May 08, 2025
McDermott Recruits Ex-Kirkland Transactions Ace
An attorney specializing in capital markets transactions and securities has recently moved his practice to McDermott Will & Emery LLP's Chicago office after more than four and a half years with Kirkland & Ellis LLP.
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May 08, 2025
Katten Adds CMBS Pro From Cadwalader
Katten Muchin Rosenman LLP announced that a new partner has joined the firm's structured finance and securitization practice from Cadwalader Wickersham & Taft LLP, noting that she will expand the firm's commercial mortgage-backed securities capabilities.
Expert Analysis
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2024 IPO Market Trends, And What To Expect Next Year
The initial public offering market returned to historically typical levels on a deal count basis in 2024 but continued to lag based on proceeds raised due to a larger number of smaller IPOs this year, and signs point to continued ongoing momentum in the next year, say attorneys at Paul Hastings.
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A Look At SEC, CFTC's Record Year For Whistleblower Awards
Another banner year shows that the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission have developed the gold standard for whistleblower award programs, but a CFTC funding crisis threatens to derail that program's success, say Andrew Feller and Geoff Schweller at Kohn Kohn.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends 鈥 from changes in the C-suite to lateral move challenges 鈥 providing clues for what鈥檚 to come in the year ahead, says Ben Curle at Ambition.
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5 Notable Anti-Money Laundering Actions From 2024
Regulators' renewed interest in anti-money laundering programs in 2024 led to numerous enforcement actions and individual prosecutions in industries like banking, cryptocurrency and gaming, including the blockbuster TD Bank settlement and investigations of casinos in Nevada, says Michael Beckwith at Dickinson Wright.
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Alpine Ruling Previews Challenges To FINRA Authority
While the D.C. Circuit's holding that the Financial Industry Regulatory Authority can't expel member firm Alpine prior to U.S. Securities and Exchange Commission review was relatively narrow, it foreshadows possibly broader constitutional challenges to FINRA's enforcement and other nongovernmental disciplinary programs, say attorneys at Stradley Ronon.
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Series
Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen聽at聽Greenwald Doherty.
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Strategies For Home Equity Investment Providers In 2025
The home equity investment product market is thriving even amid consumer concerns, regulatory scrutiny and conflicting court decisions, setting the stage for a promising but challenging environment for providers in 2025, say attorneys at Sheppard Mullin.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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Implications Of NY Climate Case For Generating Facilities
Regardless of how Greenidge Generation LLC v. New York Department of Environmental Conservation develops on remand, this decision has immediate repercussions for generating facilities seeking permit applications and renewals in New York, likely involving Climate Leadership and Community Protection Act considerations, say attorneys at Hodgson Russ.
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Using Data To Inform Corporate Disclosure Decisions
With today鈥檚 market volatility and regulatory factors requiring public companies to confront competing transparency and protection demands, incorporating stock price reaction analysis of company-specific news into the controller's role could be beneficial for disclosure determinations, say Liz Dunshee at Fredrikson & Byron and Nessim Mezrahi at SAR.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer鈥檚 market, with the average candidate demanding less compensation for a larger book of business 鈥 but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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Risk Disclosure Issue Remains After Justices Nix Meta Case
After full briefing and argument, the U.S. Supreme Court recently dismissed Facebook v. Amalgamated Bank as improvidently granted, leaving courts with the tricky endeavor of determining when the failure to disclose a past event in an Item 105 risk disclosure is materially misleading, say attorneys at Lowenstein Sandler.
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a 鈥渟liding scale鈥 approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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SEC Custody Rule Creates Crypto Compliance Conundrum
While the U.S. Securities and Exchange Commission's application of the custody rule may be a good faith attempt to enhance consumer protections for client assets, it doesn't appreciate the unique characteristics of crypto-assets, forcing advisers to choose between pursuing their clients' objectives and complying with the rule, say attorneys at Willkie.