Capital Markets

  • January 14, 2025

    DXC Says Investor Suit Shows Integration Problems, Not Fraud

    DXC Technology has asked a Virginia federal court to toss a shareholder suit alleging the information technology giant overhyped efforts to reduce restructuring and integration costs after acquiring several companies, arguing hindsight critiques from the current CEO do not establish securities fraud.

  • January 14, 2025

    Luxembourg Investor Sells Dunhill Parent Shares For £1.2B

    Reinet Investments SCA said Tuesday that it has agreed to sell its remaining stake in cigarette giant British American Tobacco PLC to institutional investors for approximately £1.2 billion ($1.46 billion).

  • January 13, 2025

    Quinn Emanuel Scoops Up SDNY Securities Fraud Chief

    Quinn Emanuel Urquhart & Sullivan LLP announced Monday that it has hired the former chief of the U.S. Attorney's Office for the Southern District of New York's securities and commodities fraud task force as a partner in its Manhattan office.

  • January 13, 2025

    Robinhood Users Oppose Arbitration Of 'Meme Stock' Claims

    Stock trading platform Robinhood has failed to lay the groundwork for sending user disputes to arbitration, seven users of the platform claimed Monday in a bid to keep their claims in federal court over the company's 2021 suspension certain so-called meme stock trades.

  • January 13, 2025

    SEC Fines Robinhood $45M For Recordkeeping, Cyber Woes

    The U.S. Securities and Exchange Commission announced Monday that Robinhood's broker-dealer units will pay a combined $45 million to settle a host of claims ranging from an alleged failure to file timely suspicious activity reports and address cybersecurity risks to alleged failures concerning data retention and recordkeeping.

  • January 13, 2025

    Binance Can't Get High Court To Review Class Cert. Decision

    The U.S. Supreme Court on Monday passed on a petition from crypto exchange Binance Holdings Ltd. and its former CEO to consider whether transactions on its platform were beyond the reach of U.S. securities laws after a Second Circuit decision found enough stateside ties to revive a suit from the exchange's users.

  • January 13, 2025

    Colo. Justices Reject Co.'s Challenge To Storm Gas Bill

    Colorado's highest court on Monday rejected a building materials company's challenge to charges on its electric bill related to extra natural gas purchased ahead of a 2021 winter storm, finding the company presented no facts to back its claim that the charges amounted to an unconstitutional taking.

  • January 13, 2025

    Shift4 To Pay SEC $750K For Undisclosed Family Payments

    The U.S. Securities and Exchange Commission said payment processing firm Shift4 Payments Inc. will pay $750,000 to settle allegations it failed to report over $4 million in payments it made to immediate family members of the company's executives and directors.

  • January 13, 2025

    Investment Firm Seeks Coverage For Hertz Buyback Suits

    An investment adviser said its insurers must provide coverage for underlying actions related to the adviser's involvement in car rental company Hertz Global Holdings Inc.'s stock buybacks, telling a Delaware state court that its primary carrier improperly denied coverage.

  • January 13, 2025

    Fed. Circ. Affirms Crypto Exec Doesn't Belong On Mining IP

    A Delaware federal judge properly found that a cryptocurrency company's founder shouldn't be added as an inventor onto a rival company's energy consumption patent, the Federal Circuit affirmed Monday.

  • January 13, 2025

    Truth Social SPAC Ex-CEO Seeks Del. Suit Toss Or Freeze

    The former manager of the blank check company that sponsored a deal to take now President-elect Donald Trump's social media platform public heads into a pivotal Delaware Court of Chancery hearing Wednesday, seeking to freeze or scuttle a suit claiming that he and others secretly diverted millions of shares from co-investors.

  • January 13, 2025

    SEC To Collect $63M In Latest Recordkeeping Sweep

    The U.S. Securities and Exchange Commission announced Monday that subsidiaries of Blackstone Inc. and Charles Schwab Corp. were among those swept up in the latest round of recordkeeping fines, promising to collect over $63 million from 12 firms whose employees are accused of discussing business through their personal devices.

  • January 13, 2025

    Natural Gas Exporter Venture Global Gears Up For $2.2B IPO

    Liquefied natural gas producer Venture Global Inc. on Monday launched plans for an estimated $2.2 billion initial public offering, potentially marking the year's first billion-dollar-plus listing, represented by Davis Polk & Wardwell LLP and underwriters counsel Skadden Arps Slate Meagher & Flom LLP.

  • January 13, 2025

    SEC Must Explain Coinbase Crypto Rule Denial, 3rd Circ. Says

    A Third Circuit panel delivered a partial win to Coinbase on Monday when it ordered the U.S. Securities and Exchange Commission to provide "a more complete explanation" of why it denied the crypto exchange's request for rulemaking on how securities laws apply to digital assets.

  • January 13, 2025

    BMO Unit To Pay SEC $40M Over Bond Desk Supervision

    BMO Capital Markets has agreed to pay $40 million to end a U.S. Securities and Exchange Commission investigation into the broker-dealer's supervision of its mortgage-back bonds salespeople, with the SEC saying Monday that the brokerage firm failed to stop employees from providing inaccurate information about the bonds.

  • January 10, 2025

    FDIC's Hill Calls For 'New Direction' In Preview Of Agenda

    Federal Deposit Insurance Corp. Vice Chairman Travis Hill signaled Friday that he intends to steer the agency in a "new direction" when he takes over as its acting chief later this month, mapping out plans for a more tech-friendly, lighter-touch approach.

  • January 10, 2025

    4 Trends That Will Shape Venture Capital Funding In 2025

    Venture capital funding appears primed to improve in 2025 as market participants shake off the effects of a post-pandemic crash, with surging demand for artificial intelligence, expectations of friendlier government policies, and more exits through public listings and acquisitions.

  • January 10, 2025

    9th Circ. Affirms Hearing Aid Co.'s Win Over Investor Suit

    The Ninth Circuit on Friday handed a win to Eargo Inc. and affirmed the dismissal of a securities class action against the hearing aid company, which alleged that the company and its top brass acted with intent to commit insurance billing fraud.

  • January 10, 2025

    SEC Fines Cannabis Co. Acreage Over Accounting Violations

    A multi-state cannabis industry operator recently acquired by Canadian cannabis industry giant Canopy will pay $225,000 to resolve administrative U.S. Securities and Exchange Commission claims that it orchestrated a $4.2 million round-trip transaction with an affiliate to inflate its reported cash balance.

  • January 10, 2025

    SafeMoon CEO Wants 'Misleading' Reddit Post Explained

    The CEO of bankrupt cryptocurrency asset company SafeMoon LLC asked a Brooklyn federal judge Friday to order the government to explain whether it had a role in a social media user's "misleading" post that promised to connect SafeMoon investors with the U.S. government.

  • January 10, 2025

    Liquidnet To Pay SEC $5M Over Market Access Rule Issues

    Liquidnet Inc. agreed Friday to pay $5 million to resolve claims from the U.S. Securities Exchange Commission that the broker-dealer failed to have the proper controls and procedures related to market access in place and failed to protect confidential subscriber trading information, among other things.

  • January 10, 2025

    Feds Say Russians Behind North Korea-Linked Crypto Mixers

    Georgia federal prosecutors on Friday announced money laundering and unlicensed money transmission charges for three Russian nationals who allegedly operated crypto mixing services previously sanctioned over their apparent use by North Korean hackers and other cybercriminals.

  • January 10, 2025

    Law Firm's Fee Suit Can't Proceed In Ga., Investment Co. Says

    A Michigan-based investment firm has asked a Georgia federal judge to toss a suit accusing it of failing to pay more than $180,000 in legal fees owed to an Atlanta-area law firm, arguing the court lacks jurisdiction under the state's long-arm statute.

  • January 10, 2025

    Crypto Buyers Say They Were Duped Out Of Millions

    Investors in two crypto projects — Phoenix Community Capital and its offshoot, Xeta Capital — alleged in Tennessee federal court that the projects' leaders duped them out of tens of millions of dollars with false promises of "returns, transparency, and the legitimacy of the enterprises."

  • January 09, 2025

    CFPB Bars Ex-Agency Attys From Revived Innovation Policies

    The Consumer Financial Protection Bureau has said it will not consider applications for its rebooted no-action letter and compliance sandbox policies when those applications are submitted by financial service companies represented by former bureau attorneys as outside counsel.

Expert Analysis

  • 2024 Election Results May Prove Fortuitous For Family Offices

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    Thanks to the decisive Republican victories in the 2024 elections, family offices have a unique opportunity for accelerated growth and influence, particularly through the benefits afforded by patient capital, says Edward Taibi at Olshan Frome.

  • 10 Noteworthy CFPB Developments From 2024

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    In a banner year for consumer finance regulation, the Consumer Financial Protection Bureau made significant strides in its efforts to rein in Big Tech and nonbank financial firms, including via rules regarding open banking, credit card late fees, and buy now, pay later products, say attorneys at Wiley.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • 2024 Has Been A Momentous Year For ESG

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    Significant developments in the environmental, social and governance landscape this year include new legislation, evolving global frameworks, continued litigation and enforcement actions, and a U.S. Supreme Court decision that has already affected how lower courts have viewed some ESG challenges, say attorneys at Katten.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025

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    U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.

  • Musk Pay Fight Shows Investor Approval Isn't Universal Cure

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    The Delaware Court of Chancery's recent denial of a motion revising its prior rescission of Elon Musk's nearly $56 billion compensation package is a reminder of the heightened standard corporate boards must meet in conflicted controller transactions and that stockholder approval doesn't automatically cure fiduciary wrongdoing, say attorneys at A&O Shearman.

  • Opinion

    Justices Rightly Corrected Course In Nvidia And Facebook

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    By dismissing both the Nvidia and Facebook class actions, over investors' ability to hold corporations accountable for fraud, the U.S. Supreme Court was right in refusing to favor corporations over transparency, and reaffirmed its commitment to corporate accountability, investor protection and the rule of law, says Laura Posner at Cohen Milstein.

  • Gov't Scrutiny Of Workplace Chat Apps Set To Keep Growing

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    The incoming Trump administration and Republican majorities in Congress are poised to open numerous investigations that include increasing demands for entities to produce communications from workplace chat apps, so companies must evaluate their usage and retention policies, say attorneys at Orrick.

  • When US Privilege Law Applies To Docs Made Outside The US

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    As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.

  • Changes To Expect From SEC Under Trump Nominee

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    President-elect Donald Trump's nomination of Paul Atkins for U.S. Securities and Exchange Commission chair will likely lead to significant shifts in the Division of Enforcement's priorities, likely focused on protecting retail investors and the stability of the capital markets, say attorneys at Morrison Foerster.

  • Executive Orders That Could Affect Financial Services In 2025

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    The incoming Trump administration is likely to quickly revive or update a number of prior executive orders, and possibly issue new ones, that could affect financial services by emphasizing market discipline rather than regulatory initiatives to drive change in the industry, say attorneys at Davis Wright.

  • 'Minimal Participant' Bar Is Tough To Clear For Whistleblowers

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    Under the U.S. Department of Justice’s corporate whistleblower pilot program, would-be whistleblowers will find it tough to show that they only minimally participated in criminal misconduct while still providing material information, but sentencing precedent shows how they might prove their eligibility for an award, say attorneys at MoloLamken.

  • 2024 IPO Market Trends, And What To Expect Next Year

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    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.

  • A Look At SEC, CFTC's Record Year For Whistleblower Awards

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    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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