Private-equity backed hospital billing firm Waystar Holding Corp. and aluminum recycling giant Novelis Inc. on Tuesday launched plans for two initial public offerings that could raise an estimated $1.8 billion combined, guided by five law firms, potentially testing the strength of the IPO market's recovery.
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TOP NEWS

5 Firms To Steer Pair Of Large IPOs That Could Net $1.8B Total

By Tom Zanki

Private-equity backed hospital billing firm Waystar Holding Corp. and aluminum recycling giant Novelis Inc. on Tuesday launched plans for two initial public offerings that could raise an estimated $1.8 billion combined, guided by five law firms, potentially testing the strength of the IPO market's recovery.

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Twitter Investors Seek Cert Over Musk's Backtrack On Buyout

By Dorothy Atkins

A group of Twitter investors have asked a California federal judge to certify a class over claims Elon Musk fraudulently tweeted about the social media company's alleged bot problem to get out of his $44 billion acquisition, arguing that the case is "perfectly suited for class certification."

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Chancery Finds Ex-CEO Owed $79M For Share Lockup Losses

By Isaac Monterose

The former CEO of a 3D building imaging company is owed more than $79 million in damages in his share value suit against the company, but not the more than $141 million he sought, the Delaware Chancery Court ruled Tuesday.

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FTX Exec Who Acted As Bankman-Fried 'Tool' Gets 7½ Years

By Pete Brush

A Manhattan federal judge hit cryptocurrency finance expert and former FTX executive Ryan Salame with a 7½-year sentence Tuesday for duping a bank to authorize $1.5 billion of illegal transfers and making fraudulent campaign contributions for the exchange's convicted founder, Sam Bankman-Fried.

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Deutsche Bank Wins Conn. Appeal In Battle With Billionaire

By Brian Steele

Deutsche Bank AG can continue to fight one prong of its sprawling, decade-long legal battle against billionaire Alexander Vik and his daughter as it seeks to satisfy a $243 million judgment rendered in the United Kingdom, the Connecticut Supreme Court ruled Tuesday.

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Exxon Investor Broadens Promise To Nix Climate Proxy Bid

By Sarah Jarvis

An activist investor sued by Exxon Mobil Corp. over a now-withdrawn shareholder proposal concerning climate change has again called on the oil giant to withdraw its suit after broadening its previous promise not to resubmit the proposal in the future.

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POLICY & REGULATION

OCC's Hsu Says More Banks May Need Crisis Playbook Rules

By Jon Hill

The Office of the Comptroller of the Currency's acting chief Michael Hsu called for potentially subjecting more banks to recovery planning standards that currently kick in at the $250 billion asset size threshold, floating it as another possible regulatory response to last year's regional bank failures.

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White House Looks To Boost Carbon Credit Market Integrity

By Sarah Jarvis

The Biden administration on Tuesday released new guidelines for voluntary carbon markets, touting the measures as a foundation for "ambitious and credible climate action" that also attempts to address questions about the integrity of credits that companies use to show a greener footprint.

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COMPLIANCE

EEX, Nasdaq Power Offer EU Fixes For Deal

By Matthew Perlman

European Energy Exchange AG and Nasdaq have offered fixes for potential competition concerns raised by the planned sale of Nasdaq's European power trading and clearing business after enforcers in several European member states referred the deal for a review.

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EQUITY

Chancery Tosses Some Computing Co. Deal Breach Claims

By Jeff Montgomery

Delaware's Court of Chancery on Tuesday thinned out the tangled technology investor brawl that emerged from Quantum Computing Inc.'s acquisition of QPhoton LLC in May 2022, dismissing individual parties from the case and narrowing claims against the two companies.

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Catching Up With Delaware's Chancery Court

By Leslie A. Pappas

Delaware Court of Chancery watchers shifted their focus last week from the courtroom to Dover's legislative hall, as proposed amendments to Delaware's corporate code were finally introduced to state lawmakers. Hearings, decisions and reversals involved Kraft-Heinz, AMC Entertainment and the merger of cryptocurrency companies BitGo and Galaxy. In case you missed it, here's the latest from Delaware's Chancery Court.  

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CRYPTOCURRENCY

Block.one Investors Renew Push For $22M Deal Approval

By Katryna Perera

A class of investors has again asked the court to approve a $22 million settlement with Block.one over the cryptocurrency company's $4 billion initial coin offering, following several instances in which the court denied approval of the deal.

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SEC Ordered To Pay $1.8M Over Crypto Case Sanctions

By Aislinn Keely

The U.S. Securities and Exchange Commission is on the hook for more than $1.8 million in attorney and receiver fees arising from its allegedly ill-gotten temporary restraining order against crypto project Debt Box, though a Utah federal judge allowed the agency the opportunity to refile the enforcement case despite protests from the defendants.

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DEBT

RBS, Lloyds Bank, Others Ink $1.9M Libor Settlement

By Katryna Perera

A group of plaintiffs in the yearslong suit alleging several big banks manipulated the London Interbank Offered Rate, or Libor, have reached a $1.9 million settlement with the Royal Banks of Scotland, Lloyds Bank and others, bringing the total settlement recovery amount to more than $780 million.

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EXPERT ANALYSIS

How Attys Can Avoid Pitfalls When Withdrawing From A Case

The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

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LEGAL INDUSTRY

Podcast

Approach The Bench: Judge Humetewa Talks Tribal Relations

Before she joined the federal bench in Arizona, Judge Diane Humetewa worked as a jurist on a relatively young court, where she regularly set new legal precedent.

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American To Cut Attys Who Blamed Child Filmed In Bathroom

By Lynn LaRowe

Wilson Elser Moskowitz Edelman & Dicker LLP attorneys are on the brink of being removed as counsel for American Airlines in a Texas state lawsuit over an ex-flight attendant's secret bathroom recording of a 9-year-old girl.

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GE General Counsel Mike Holston Heading To Paul Weiss

By Sue Reisinger

The general counsel who navigated General Electric Co. through its recent split into three companies is becoming a partner at Paul Weiss Rifkind Wharton & Garrison LLP on Oct. 1, where he looks forward to taking on corporate crises and maybe even a pro bono death penalty case.

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Profile

The Patent Attorney Who Shook Up Professional Poker

By Alex Lawson

Moving from private practice to corporate counsel is a common path for lawyers of all stripes. Considerably less common is the shift from private practitioner to in-house counsel to poker world champion, but that's the exact trick Greg Raymer pulled off 20 years ago this week. Here, Law360 talks to Raymer about his legal career, the big poker win, and what life has been like since.

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Trump Atty Calls Cohen 'MVP Of Liars' As NY Trial Closes

By Rachel Scharf, Frank G. Runyeon and Stewart Bishop

Donald Trump's counsel repeatedly assailed the credibility of star witness Michael Cohen Tuesday in a final pitch to the New York jury that will decide whether to convict the former president of falsifying business records, calling Cohen "an MVP of liars" and "the human embodiment of reasonable doubt."

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Coverage Recap: Day 17 Of Trump's NY Hush Money Trial

By 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 ahead of the 2016 election. Here's a recap from day 17.

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Trump's Florida Prosecutors Scolded For Gag Order Filing

By Elliot Weld

The Florida federal judge overseeing Donald Trump's classified documents case on Tuesday temporarily rejected the government's request for a limited gag order and admonished prosecutors for what she said was a lack of "substance and professional courtesy" in their conferral with defense attorneys before filing the motion.

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Serial Numbers Tie Gold Bars To Menendez, Jury Hears

By Carla Baranauckas

The executive assistant of a New Jersey real estate developer on trial alongside U.S. Sen. Robert Menendez linked her boss to some of the gold bars found in the congressman's New Jersey home, confirming Tuesday that the serial numbers of her employer's stash of bars matched the ones stamped on the flashy evidence.

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Gorsuch Unhappy Court Won't Rethink Jury Size Precedent

By Rose Krebs

In a strongly worded dissent Tuesday, Justice Neil Gorsuch said the U.S. Supreme Court needs to rethink precedent that "made the unthinkable a reality" by permitting juries of fewer than 12 people to decide cases involving serious criminal offenses.

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Head Of Judicial 'Progressive Powerhouse' To Step Down

By Courtney Bublé

Russ Feingold will step down next year as president of the American Constitution Society, which is a liberal counterpart to the Federalist Society.

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Absent Atty Irks Judge In Girardi-Linked Bar Corruption Case

By Craig Clough

A California judge on Tuesday chastised a lawyer representing former clients of Tom Girardi accusing the state bar of "rampant corruption," telling the attorney over the phone that he is "nonplussed" as to why he attempted to skip the hearing on the bar's motion to toss the case.

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Tech Co. Says Houston Court Set Trial Despite Atty Vacations

By Catherine Marfin

A Kansas-based technology company has asked a Texas appellate court to push back a June trial date in Houston, writing that a trial court judge scheduled the proceeding despite being notified of vacation conflicts by multiple attorneys.

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LAW FIRMS IN TODAY'S NEWS

Abbott Cooper PLLC

Baker McKenzie

Bartlett LLP

Block & Leviton

Buchalter APC

Cahill Gordon

Carter Arnett

Christensen & Dougherty

Clyde Snow

Cohne Kinghorn

Continental PLLC

Cotchett Pitre

Davis Polk

Day Pitney

Dilworth Paxson

Doyle Law APC

Faegre Drinker

Foley Hoag

Gibbons PC

Gibson Dunn

Girardi & Keese

Grant & Eisenhofer

Gray Cary

Hausfeld LLP

Herbert Smith Freehills

Holland & Knight

Jones Day

Katten Muchin

Kelly Hart

Kesler & Rust

King & Spalding

Koutoulas Law

Kunzler Bean

Latham & Watkins

Law Office of Steven J. Fink PLLC

Lewis & Llewellyn

Loyens & Loeff

Mayer Brown

McCollom D'Emilio

McDowell Hetherington

McNeill Von Maack

Meland Budwick

Milbank LLP

Morgan Lewis

Morrison Cohen

NechelesLaw

Orbach Huff

Orsinger Nelson

Osborne Law Firm

Paul Hastings

Paul Weiss

Polsinelli PC

Pomerantz LLP

Pullman & Comley

Quinn Emanuel

Richards Layton

Rolnick Kramer

Sanders Roberts

Schindler Cohen

Selendy Gay

Sidley Austin

Simpson Thacher

Steptoe LLP

Stinson LLP

Susman Godfrey

Torys

Waymaker LLP

WilmerHale

Wilson Elser

de Castro PC

​Bottini & Bottini

COMPANIES IN TODAY'S NEWS

ABG Sundal Collier Inc.

AMC Entertainment Holdings Inc.

American Airlines Group Inc.

American Constitution Society

Apple Inc.

Archaea Energy Inc.

BMO Capital Markets Corp.

Barclays PLC

Berkshire Hills Bancorp Inc.

BitGo Inc.

Block.one LLC

Brookfield Infrastructure Partners LP

Business Roundtable

Citigroup Inc.

Credit Suisse Group AG

Delaware State Bar Association

Deutsche Bank AG

EQT AB

EQT Corp.

ESPN Inc.

European Energy Exchange AG

Evercore Inc.

Exxon Mobil Corp.

Federalist Society

GE Vernova Inc.

Galaxy Digital Holdings Ltd.

General Electric Co.

Getty Images Holdings Inc.

HSBC Holdings PLC

Hindalco Industries Ltd.

JPMorgan Chase & Co.

Koch Industries Inc.

Lloyds Bank PLC

London Stock Exchange Group PLC

Merck & Co. Inc.

Morgan Stanley

NASDAQ Inc.

Neuberger Berman

Novelis Inc.

Pfizer Inc.

Qatar Investment Authority

RBC Capital Markets

Rabobank

Royal Bank of Canada

SVB Financial Group

Spotify Technology SA

State Bar of California

Stevens Institute of Technology

Tesla Inc.

The Goldman Sachs Group Inc.

The Royal Bank of Scotland Group PLC

Therapeutics Inc.

Twitter Inc.

U.S. Chamber of Commerce

UBS Group AG

University of Zurich

Walt Disney Parks & Resorts Worldwide Inc.

Waystar Inc.

Wells Fargo & Co.

William Blair & Co. LLC

Xponential Fitness LLC.

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Supreme Court

Commodity Futures Trading Commission

Delaware Court of Chancery

European Commission

European Union

Federal Bureau of Investigation

Federal Reserve System

Florida Attorney General's Office

Hopi Tribe

Los Angeles Superior Court

Manhattan District Attorney's Office

Office of Tribal Justice

Office of the Comptroller of the Currency

U.S. Attorney's Office

U.S. Attorney's Office for the District of Arizona

U.S. Attorney's Office for the Eastern District of Pennsylvania

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

U.S. Department of Justice

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

U.S. District Court for the Northern District of Texas

U.S. District Court for the Southern District of Florida

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

U.S. Patent and Trademark Office

U.S. Securities and Exchange Commission

U.S. Sentencing Commission

U.S. Supreme Court

United States District Court for the District of Utah