European private equity giant CVC Capital Partners PLC, represented by Freshfields Bruckhaus Deringer LLP, on Monday set a price range on initial public offering estimated to raise about €1.6 billion ($1.7 billion), mostly benefiting selling shareholders.
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TOP NEWS

Freshfields-Led CVC Unveils Range On $1.7B Amsterdam IPO

By Tom Zanki

European private equity giant CVC Capital Partners PLC, represented by Freshfields Bruckhaus Deringer LLP, on Monday set a price range on initial public offering estimated to raise about €1.6 billion ($1.7 billion), mostly benefiting selling shareholders.

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PE-Backed Cruise Operator Viking Sets Sights On $1B IPO

By Tom Zanki

Private equity-backed cruise operator Viking Holdings Ltd. on Monday set a price range on an estimated $1 billion initial public offering, represented by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Latham & Watkins LLP, marking the latest test of the IPO market's nascent recovery.

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SEC Says Terraform, Founder Owe $5.3B After Fraud Verdict

By Elliot Weld

The U.S. Securities and Exchange Commission has asked a Manhattan federal judge to order bankrupt cryptocurrency exchange Terraform Labs and its founder to pay roughly $5.3 billion, weeks after a jury found them liable for a massive fraud.

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Exec In Insider Trading Case Says Feds Denied Him Counsel

By Jessica Corso

The former CEO at the center of a novel insider trading case is asking that the California jury deciding his fate not be allowed to hear evidence obtained during a pre-indictment interrogation, arguing he was denied access to an attorney despite insisting on speaking to counsel at least a dozen times.

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POLICY & REGULATION

NY's 'Buy-Now, Pay-Later' Oversight Bill Delayed But Not Dead

By Jon Hill

A New York state proposal to start licensing and supervising buy-now, pay-later providers didn't make the final cut in lawmakers' just-approved $237 billion budget, but a version being advanced through standalone legislation could still make it into law.

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EQUITY

PacWest Wants Suit Over Alleged Rate Hike Exposure Axed

By Katryna Perera

PacWest Bancorp has urged a California federal judge to toss a proposed class action from an investor who alleges the California regional bank ignored warning signs posed by last year's collapse of Silicon Valley Bank, saying the fact that it did not anticipate the "unprecedented turmoil in the banking industry" is not a violation of federal securities laws.

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Real Estate Investment Cos. Owe SEC $8.4M For $17.5M Fraud

By Emilie Ruscoe

A pair of companies allegedly used in service of a fraudulent real estate investment scheme will pay over $8.4 million to end claims they were part of the $17.5 million ploy that took in more than 150 would-be investors with claims that the securities involved were "recession-proof."

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Catching Up With Delaware's Chancery Court

By Leslie A. Pappas

Last week, Delaware's Chancery Court news included a Tesla announcement about moving to Texas, a midcase appeal of Tripadvisor's move to Nevada, and United Airlines' escape from a stockholder suit. Disputes about board entrenchment, squeeze-out mergers, co-founder fallouts and deadly ice cream moved ahead.

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CRYPTOCURRENCY

CFTC Says Gemini Can't Pin Misstatements On 'Intermediary'

By Aislinn Keely

The U.S. Commodity Futures Trading Commission has told a New York federal court that cryptocurrency exchange Gemini Trust Co. LLC is seeking to "shirk responsibility" for misleading the agency's staff about the risks of a proposed bitcoin futures contract.

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PEOPLE

Walden Macht Launches Securities Group With Ex-Sidley Atty

By Emma Cueto

White collar boutique Walden Macht & Haran LLP announced Monday that it has launched a securities enforcement defense practice headed by a recent arrival from Sidley Austin LLP in New York.

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Steptoe & Johnson Adds Securities Duo In Oklahoma

By Adrian Cruz

Steptoe & Johnson PLLC has announced the hiring of two experienced securities attorneys from regional firm Conner & Winters LLP to its corporate and mergers and acquisitions practice in its Oklahoma City office.

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EXPERT ANALYSIS

What Cos. Are Reporting Under New SEC Cybersecurity Rule

Four months after its effective date, 14 companies have made disclosures under the U.S. Securities and Exchange Commission's mandatory cybersecurity incident reporting rule, and some early trends are emerging, including a possible rush to file, say attorneys at Debevoise.

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Ensuring Nonpublic Info Stays Private Amid SEC Crackdown

Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.

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Address Complainants Before They Become Whistleblowers

A New York federal court's dismissal of a whistleblower retaliation claim against HSBC Securities last month indicates that ignored complaints to management combined with financial incentives from regulators create the perfect conditions for a concerned and disgruntled employee to make the jump to federal whistleblower, say attorneys at Cooley.

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LEGAL INDUSTRY

Unemployment Rate For Recent Law Grads Improves, ABA Finds

By Kevin Penton

Fewer recent law school graduates were unemployed in March than in the previous year, as the negative effects of the COVID-19 pandemic further recede into memory, according to data released Monday by the American Bar Association.

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Justices To Mull Atty Fees For Preliminary Injunctions

By Ryan Boysen

The U.S. Supreme Court on Monday agreed to hear a case that could determine whether litigants can receive attorney fees for "prevailing" in a case by winning a preliminary injunction, despite never securing a final judgment.

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Justices Skip How Mid-Litigation Changes Affect Standing

By Katie Buehler

The U.S. Supreme Court on Monday left in place a Third Circuit ruling that plaintiffs must reestablish standing when defendants cause circumstances to change mid-litigation, ending a Pennsylvania attorney's challenge to the state's new anti-bias and harassment professional conduct rule.

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Morgan Lewis Atty Aims ERISA Suit At Firm's Plan, Unum

By Hailey Konnath

A Morgan Lewis & Bockius LLP lawyer has lodged an Employee Retirement Income Security Act suit against the firm's benefit plan, claiming the plan illegally and abruptly terminated her long-term disability benefits after seemingly applying criteria irrelevant to her work.

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Analysis

As DA Aims High, Trump Defense Gets 'Down And Dirty'

By Phillip Bantz

Donald Trump lifted the curtain Monday on his strategy to win over jurors in his New York criminal hush-money trial, as a lawyer for the former president hammered the state's "liar" star witness and rejected the prosecution's quixotic framing of the case, experts observed.

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Trump Led Plot To Undermine 2016 Election, NY Jury Told

By Stewart Bishop

A prosecutor told a Manhattan jury on Monday that Donald Trump was the head of a conspiracy to undermine the integrity of the 2016 election through hush-money payments, kicking off the first criminal trial of a former president.

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Coverage Recap: Day 1 Of Trump's NY Hush Money Trial

By Frank Runyeon and Stewart Bishop

Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments to adult film actress Stormy Daniels ahead of the 2016 election. Here's a full recap from day one.

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Trump, NY AG Reach Deal To OK $175M Fraud Appeal Bond

By Rachel Scharf

Donald Trump's lawyers agreed Monday to bond conditions requiring the former president to give up control of his $175 million cash deposit pending appeal of a $465 million civil fraud judgment, staving off scrutiny from both the New York attorney general and the judge who entered the award.

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11 State AGs Urge Senate To Confirm Mangi For 3rd Circ.

By Courtney Bublé

A group of 11 attorneys general is calling on the Senate to confirm Adeel Mangi, nominee for the Third Circuit, who would be the first federal Muslim appellate judge if confirmed, condemning allegations that he is antisemitic or anti-law enforcement.

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Senate OKs Permanent Status For 10 Fed. District Judgeships

By Lynn LaRowe

The U.S. Senate has unanimously passed a bill put forth by a bipartisan group of lawmakers that would transition 10 previously temporary district court judgeships in 10 states to permanent posts, including in Texas, California and Florida.

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DOJ Legal Counsel Must Disclose Interagency Rulings: Judge

By Adrian Cruz

Opinions from the U.S. Department of Justice's Office of Legal Counsel on interagency disputes should be made available for public review, a judge has found, siding with an open government watchdog in a long-running records dispute.

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Congress Urged To Fund Attys For Immigrants In Removal

By Britain Eakin

A coalition of more than 100 immigrant rights groups and several local governments urged congressional appropriators on Monday to allocate funds next fiscal year to increase legal representation for individuals in removal proceedings to protect their due process rights.

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Ex-US Atty's Stepson Says He Has None Of Docs Gov't Seeks

By Anna Scott Farrell

The stepson of a former Nevada U.S. attorney convicted of failing to pay taxes told a Nevada federal court that he doesn't have the financial documents the federal government has demanded in its $1.3 million tax suit against his stepfather.

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Promo that reads 2023 Practice Groups of the Year Promo that reads 2023 Law Firm Culture Survey

LAW FIRMS IN TODAY'S NEWS

Baker & Hostetler

Baughman Kroup

Bingham McCutchen

Bressler Amery

Brown Rudnick

Conner & Winters

Continental PLLC

Conyers Dill

Cooley LLP

Covington & Burling

Debevoise & Plimpton

Dentons

Ford O'Brien

Freshfields

Habba Madaio

Hamilton Lincoln Law Institute

Hunton Andrews

Kaplan Hecker

King & Spalding

Latham & Watkins

Lewis Baach

McGuireWoods

Morgan Lewis

NechelesLaw

Nelson Mullins

Patterson Belknap

Pisanelli Bice

Pomerantz LLP

Robert & Robert PLLC

Rosen Law Firm PA

Salmanson Goldshaw

Sidley Austin

Skadden Arps

Steptoe & Johnson PLLC

Sullivan & Cromwell

Walden Macht

Williams & Connolly

COMPANIES IN TODAY'S NEWS

American Bar Association

American Media Inc.

BP PLC

Banc of California Inc.

BioMarin Pharmaceutical Inc.

Blackstone Inc.

Blue Bell Creameries LP

Blue Owl Capital Inc.

CVC Capital Partners

Cornell University

Crown Castle Inc.

Early Warning Services LLC

Elliott Investment Management LP

Endeavor Operating Company LLC

Euronext Amsterdam NV

GRAIL Inc.

Gemini Trust Co. LLC

HSBC Holdings PLC

Illumina Inc.

JPMorgan Chase & Co.

Jump Trading LLC

KKR & Co. Inc.

LSB Industries Inc.

Legal Aid Justice Center

LinkedIn Corp.

Morgan Stanley

National Australia Bank Ltd.

Norges Bank Investment Management

Okada Manila

PTC Therapeutics Inc.

PacWest Bancorp

Pacific Western Bank

SVB Financial Group

Scotiabank Global Banking and Markets

Tesla Inc.

The Charles Schwab Corp.

The Cigna Group

The Goldman Sachs Group Inc.

Tokyo Gas

TravelCenters of America Inc.

TripAdvisor Inc.

Trump Organization Inc.

Unum Group

VF Corp.

Vera Institute of Justice Inc.

Wells Fargo & Co.

GOVERNMENT AGENCIES IN TODAY'S NEWS

Bureau of Labor Statistics

Commodity Futures Trading Commission

Federal Bureau of Investigation

Federal Deposit Insurance Corp.

Federal Reserve System

Judicial Conference of the United States

Manhattan District Attorney's Office

New York Attorney General's Office

Small Business Administration

U.S. Attorney's Office for the Central District of California

U.S. Attorney's Office for the Southern District of New York

U.S. Department of Justice

U.S. District Court for the Central District of California

U.S. District Court for the District of Columbia

U.S. District Court for the Eastern District of Pennsylvania

U.S. District Court for the Southern District of New York

U.S. Environmental Protection Agency

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the District of Nevada

Virginia Attorney General's Office

Virginia Department of Motor Vehicles