Capital Markets

  • February 09, 2024

    2nd Circ. Revives Investors' Mexican Bond-Rigging Claims

    The Second Circuit on Friday reinstated U.S. investor claims accusing major banks of a yearslong collusion to rig Mexican government bond prices, saying a New York district court wrongly found it didn't have jurisdiction over the matter.

  • February 09, 2024

    Apache Investors Get Class Cert. In Suit Over Natural Gas Play

    A group of Apache Corp. investors received class certification in their suit against the Houston oil and gas company on Friday, with a Texas magistrate judge saying there's enough evidence the company misrepresented a specific natural gas play to go forward with a lawsuit.

  • February 09, 2024

    Labaton, Rolnick Clash Over Legal Fees In Materials Co. Deal

    Law-firm battling has sharpened over multimillion-dollar legal fee claims linked to a proposed $19 million Delaware Court of Chancery settlement for a stockholder suit challenging a $3.1 billion materials company sale in 2019, court records show.

  • February 09, 2024

    Healthcare-Focused SPAC Hits The Market After $160M IPO

    Blank-check company Helix Acquisition Corp. II hit the public markets on Friday following its upsized initial public offering, which raised $160 million by offering 16 million shares at a price of $10 apiece.

  • February 09, 2024

    Simpson Thacher, Cleary Steer Mexican Grocer's $589M IPO

    Mexican grocery chain BBB Foods Inc.'s shares rallied Friday after the company completed a $589 million initial public offering, represented by Simpson Thacher & Bartlett LLP and underwriters counsel Cleary Gottlieb Steen & Hamilton LLP, thanks to strong appetite from investors.

  • February 09, 2024

    Activist Says CEO's Family Is Problem For Chef's Warehouse

    Specialty foods company The Chef's Warehouse has become the latest target of activist investor Legion Partners, which is asking the company's shareholders to nominate four new board members to turn around "chronic underperformance" stemming from the board's family connections.

  • February 09, 2024

    Goodwin-Led Gene Editing Firm Metagenomi Raises $94M IPO

    Preclinical biotech Metagenomi began trading publicly on Friday, raising $94 million by offering 6.25 million shares at $15, the low end of the $15 to $17 range it had set earlier in the week.

  • February 09, 2024

    SEC To Collect $81M In Fines In Latest Texting Probe Cases

    The U.S. Securities and Exchange Commission announced Friday that it has secured agreements to pay more than $81 million in fines from 16 firms over their employees' use of personal messaging apps to do business, though the agency added that one set of firms ended up paying much less for having self-reported the violations.

  • February 09, 2024

    Off The Bench: NCAA NIL Rule Lives; Dartmouth Players Win

    In this week's Off The Bench, a Tennessee judge sends mixed signals to the NCAA in the fight over its NIL recruiting ban, Dartmouth's basketball players tally a win for college athletes' unionization efforts, and DraftKings tries to stop rival Fanatics from benefiting from a former executive who switched sides. If you were on the sidelines over the past week, Law360 is here to clue you in on the biggest sports and betting stories that had our readers talking.

  • February 09, 2024

    CORRECTED: 11th Circ. Says Guilty Plea Sinks Appeal In Investment Fraud Case

    The Eleventh Circuit declined to take up the appeal of a man who pled guilty to wire fraud after being accused of stealing investment funds from a wealthy widow, ruling that his plea was unconditional. Correction: A previous version of this story misidentified the defendant and had an incorrect case number and counsel information. The errors have been corrected.

  • February 09, 2024

    NY AG Seeks $2B More From Genesis Parent Co. In Fraud Suit

    New York's attorney general filed an expanded complaint Friday accusing Digital Currency Group and other cryptocurrency companies of defrauding customers out of more than $3 billion, shortly after reaching a settlement with its subsidiary Genesis Global Capital in its bankruptcy case.

  • February 09, 2024

    Dentons, White & Case Guide Airline In $370M London IPO

    Air Astana conducted its initial public offering on the London and Kazakhstan stock exchanges on Friday, achieving a value of approximately $847 million and conditionally raising up to $370 million in an oversubscribed offering, $70 million more than it expected.

  • February 08, 2024

    High Court Ruling Solidifies SOX Whistleblower Protections

    The U.S. Supreme Court's unanimous decision Thursday in favor of a UBS whistleblower has solidified whistleblower protections across a wide range of industries, with one attorney saying the ruling has made the Sarbanes-Oxley Act the most pro-employee labor law in the country.

  • February 08, 2024

    VC Firms Accused Of Investing In 'Problematic' Chinese Cos.

    Qualcomm Ventures, Sequoia Capital China and three other American venture capital firms have collectively funneled more than $3 billion into "problematic" Chinese companies linked to human rights violations, the Chinese military and the "surveillance state," according to a report announced Thursday by U.S. lawmakers.

  • February 08, 2024

    Hudson City Investors Lose Cert. In $3.7B M&T Merger Suit

    A proposed investor class can't be certified in a suit alleging M&T Bank Corp. and Hudson City Bancorp Inc. hid regulatory problems that led to a yearslong delay of their $3.7 billion merger over a decade ago, a federal judge said after finding his previous order to certify the class "clearly erred in applying the Third Circuit's legal standard."

  • February 08, 2024

    DC Circ. Cautiously Weighs FINRA's Future

    The D.C. Circuit spent more than two hours Thursday debating the future of the Financial Industry Regulatory Authority, with the judges seemingly divided on whether the private organization is subject to the same constitutional restraints imposed on government agencies, or if it can continue punishing broker-dealers that violate its rules without additional oversight.

  • February 08, 2024

    Lawmakers Slam SEC Over Misstatements In Debt Box Case

    A group of Republican U.S. senators told the U.S. Securities and Exchange Commission that its alleged misrepresentations in its enforcement case against a Utah crypto project may call its other crypto lawsuits into question.

  • February 08, 2024

    First Citizens Says HSBC Execs OK'd SVB Poaching Plan

    First Citizens Bank has beefed up allegations that HSBC Holdings stole confidential information and poached employees from the failed Silicon Valley Bank, filing an amended complaint Wednesday in California federal court, claiming HSBC's top executives and chief legal officer knew of the alleged poaching conspiracy.

  • February 08, 2024

    SEC, CFTC Jointly Demand More Hedge-Fund Disclosures

    The U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission jointly passed rules Thursday requiring additional disclosures from hedge funds and other private fund advisers, aimed at improving market stability and transparency, despite dissent from Republican commissioners of both agencies who say the requirements are overreaching.

  • February 08, 2024

    Biotech Co. Neurona Therapeutics Raises $120M

    Clinical stage biotech company Neurona Therapeutics announced Thursday that it raised $120 million to advance the development of its lead treatment NRTX-1001 as well as other preclinical programs.

  • February 08, 2024

    Exxon Told Climate Proposal Suit Threatens Investor Rights

    The Interfaith Center on Corporate Responsibility is urging Exxon to abandon a lawsuit launched against two activist investors who tried to push for a shareholder vote on a climate proposal that has since been withdrawn.

  • February 08, 2024

    Ga. Man Behind $49M Ponzi Scheme Gets Nearly 8 Years

    An Atlanta-area investment adviser who pled guilty to using his companies as vehicles for a $49 million Ponzi scheme has been sentenced to just short of eight years in prison by a Georgia federal judge, the Department of Justice announced Thursday.

  • February 08, 2024

    SEC Challenger References Son Of Sam In 'Gag Rule' Row

    Counsel for a financial radio show host referenced Son of Sam as she challenged a so-called gag rule issued by the U.S. Securities and Exchange Commission before the Fifth Circuit on Thursday, telling the panel that even serial killers are afforded First Amendment rights when faced with allegations by the government.

  • February 08, 2024

    Gemini's $800M Claim On Genesis Isn't Secured, Judge Says

    A New York bankruptcy judge rejected cryptocurrency exchange Gemini's argument that it has a secured claim on more than $800 million in Genesis Global Capital assets, ruling that because Genesis never transferred the assets, they cannot count as collateral pledged by the debtor.

  • February 08, 2024

    Crypto Co. Hut 8 Merged With Failing Operation, Suit Says

    Crypto mining company Hut 8 was hit with a proposed class action from an investor alleging the company's stock price fell following the publication of a short-seller's report that said it paid $745 million for another company with severe financial and operational issues.

Expert Analysis

  • Attorneys Have An Ethical Duty To Protect The Judiciary

    Author Photo

    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Paths Forward For RE Buyers In Turbulent Market Conditions

    Author Photo

    Real estate borrowers are facing significant challenges in financing new acquisitions or developments amid escalating interest rates, but opportunistic debt funds may be able to help bridge through the present environment, say Jon Gallant and Jared Hodges at Knowles Gallant.

  • Why The Debt Maturity Wall Is Still A Figment, For Now

    Author Photo

    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • When Courts Engage In Fact-Finding At The Pleading Stage

    Author Photo

    It remains to be seen whether the Ninth Circuit's pleading-stage factual determination in a securities class action against Nvidia was sui generis or part of a trend, but the court has created a template for district courts to follow, says Jared Kopel at Alto Litigation.

  • A Deep Dive Into FSOC's Expansion Of Nonbank Oversight

    Author Photo

    The Financial Stability Oversight Council's new nonbank guidance, designed to provide the council with added flexibility in risk response, not only modifies the process for designating nonbanks as systemically important institutions, but also sends a clear signal that the FSOC may assume a more active role in addressing financial stability risks across the economy, say attorneys at Simpson Thacher.

  • 9th Circ. ERISA Ruling Informs DOL's New Fiduciary Proposal

    Author Photo

    The Ninth Circuit's reasoning in its recent Bugielski v. AT&T decision illustrates the importance of the U.S. Department of Labor's proposals to expand the reach of Employee Retirement Income Security Act third-party compensation disclosure rules and their effect on investment adviser fiduciaries, says Jeff Mamorsky at Cohen & Buckmann.

  • AI Can Help Lawyers Overcome The Programming Barrier

    Author Photo

    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • Are CCOs Really In The SEC's Crosshairs?

    Author Photo

    U.S. Securities and Exchange Commission Enforcement Director Gurbir Grewal recently gave a speech to address the concerns of chief compliance officers in light of recent enforcement actions taken against them, but CCOs need to understand when to push back against management, quit, or report issues to the board or to regulators, say Brian Rubin and Adam Pollet at Eversheds Sutherland.

  • 2nd Circ. Holding Could Disrupt SEC Disgorgement Methods

    Author Photo

    A recent Second Circuit decision in U.S. Securities and Exchange Commission v. Govil that held disgorgement to be an equitable remedy has the potential to substantially disrupt the SEC's long-standing approach to monetary remedies in many of the cases the agency brings, say attorneys at Debevoise.

  • Breaking Down The SEC's 2024 Examination Priorities

    Author Photo

    The U.S. Securities and Exchange Commission’s recently released examination priorities for the year ahead signal a steady course from prior years, but they also include some specific new concerns and important twists on perennial risk areas, say Kurt Gottschall and Kit Addleman at Haynes Boone.

  • Preparing Law Students For A New, AI-Assisted Legal World

    Author Photo

    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • SolarWinds Ushers In New Era Of SEC Cyber Enforcement

    Author Photo

    The U.S. Securities and Exchange Commission's recent lawsuit against software company SolarWinds Corp. and its chief information security officer is the first time the SEC has ever filed suit over scienter-based fraud involving cybersecurity failures, illustrating that both companies and CISOs need to be extra cautious in how they describe their cybersecurity practices, say attorneys at Jenner & Block.

  • General Counsel Need Data Literacy To Keep Up With AI

    Author Photo

    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • A Tale Of 2 SVB Reports: Where The Fed's Barr And OIG Differ

    Author Photo

    Some have said the recent report on Silicon Valley Bank's failure prepared by the Federal Reserve Board's Office of Inspector General is nearly identical to one conducted by Vice Chair for Supervision Michael Barr earlier in the year, but in reality, the OIG report is far more critical and less forgiving of the Fed supervisory staff, say attorneys at Davis Polk.

  • Navigating Discovery Of Generative AI Information

    Author Photo

    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Capital Markets archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!