Your daily dose of financial news The Brief – 5.16.16

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We’ve been hearing a lot about Verizon’s bid for Yahoo.  But it’s not alone. In fact, it’s bringing some odd folks to the table together.  Case in point: Warren Buffet and Quicken Loans’ Dan Gilbert – NYTimes and Bloomberg

In a year in which IPOs have been as mythical as Silicon Valley unicorns, June—traditionally the hottest month for initial public offerings—will say a lot about whether the downturn will last throughout the rest of 2016 – WSJ

While it won’t make that deadline, Chinese Uber-competitor Didi Chuxing (fresh off its billion dollar investment from Apple) is reportedly considering a US IPO as early as 2017 – Bloomberg

Start-ups aim for disruption of status quo. But when it comes to lawsuits, they’re mostly looking a lot like the old guard—it’s arbitration or bust, for employees and customers alike, all in an effort to keep litigation costs and the potential for class actions way, way down – NYTimes

NY financial regulators have subpoenaed a series of investment firms involved in seller-financed deals “for marketing inexpensive homes to lower-income people who cannot get a mortgage,” just a week or so after the CFPB opened an informal inquiry into similar financial arrangements – NYTimes

Turns out retail sales weren’t in the cellar nearly as much as anticipated.  Quite the opposite, in fact – Bloomberg

Quick tip for those accused of insider trading. Better if you don’t end up before Judge Jed Rakoff in your civil trial—no matter how scot-free you got off on the criminal side of things. (Also, probably better if you don’t contradict your previous testimony, either) – WSJ

Fair Game focused on Lending Club this weekend—in particular, the trouble caused by LC’s failure to make robust financial disclosures (in addition to a host of recent problems related to former CEO Renaud Laplanche), which likely made it harder for investors to have confidence in the company weathering this recent storm – NYTimes

File this away under “good to know” for financial crimes—when it comes to prosecuting financial crimes, extradition to the US is apparently a pretty big stick – Law360

Check out this pretty fantastic look at American innovation through the ages – NYTimes

You’ll likely not have ever heard of Kasey McCravey before.  But trust me, you’ll be glad to know she’s on our side – Deadspin

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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