News & Analysis as of

Equity Transactions

Orrick, Herrington & Sutcliffe LLP

FINRA fines firm for excess commission charges

Recently, FINRA released a Letter of Acceptance, Waiver and Consent (AWC) against a securities firm for two alleged violative conducts from August 2018 to September 2022. First, FINRA alleged that the firm charged an unfair...more

Farrell Fritz, P.C.

Summer Shorts: Equitable Contribution, Stock Redemption, and Other Recent Decisions of Interest

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Welcome to the 13th annual edition of Summer Shorts. This year’s edition features brief commentary on five recent decisions by New York courts in a variety of business divorce cases involving equitable contribution among...more

McDermott Will & Emery

Top Takeaways | 2023 PPM-ASC Symposium | Specialty Spotlight: Behavioral Health

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In this session, panelists provided an in-depth look at focus and sub-focus areas within the behavioral health industry. Our panel also discussed supply and demand imbalances, merger and acquisition (M&A) transaction...more

Burr & Forman

SEC Adopts Rules Implementing T+1 Settlement

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Last week, a divided Securities and Exchange Commission adopted a set of rule changes requiring next-day (T+1) settlement of most equity trades by May 24, 2024. The suite of rules also require same-day trade allocations and...more

Goodwin

SEC Requires T+1 Settlement Cycle

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SEC efforts to shorten the US securities settlement cycle come as no surprise, yet these changes will have profound implications for the industry, US and global financial markets, and financial services generally. The push to...more

Proskauer Rose LLP

Private Credit Lenders: D&O Insurance in Times of Distress

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It seems inevitable there will be an uptick in private credit defaults as economic conditions further deteriorate. What steps are you taking in terms of portfolio management to prepare for the next cycle with respect to...more

McDermott Will & Emery

HPE Miami 2022 PE Fundraising 3.0: Continuation Vehicles, Single-Asset Funds and Secondaries

In this session, Ian Schwartz, Partner and Head of McDermott’s Investment Funds Practice, moderated a discussion that explored fundraising strategies and transaction structures that optimize liquidity and long-term returns...more

Sheppard Mullin Richter & Hampton LLP

Trends in Digital Health Funding and Transactions: A Tremendous Year So Far

As the world continues to shift and adapt to the ongoing COVID-19 pandemic, the digital health sector has experienced tremendous growth and the momentum has only accelerated in 2021. According to the Digital Health...more

Conyers

Norway Practice Bulletin 2021

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Welcome to Conyers’ 2021 Norway Practice Bulletin. Our annual publication underscores the importance of the Norwegian market to our Bermuda corporate practice. The 12 months since our last issue have been very different,...more

White and Williams LLP

IRS Issues Guidance on PPP Loans and the Employee Retention Credit in M&A Transactions

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Dealmakers loathe uncertainty. In addition to the challenges of analyzing impacts of COVID-19 on a business and on closing transactions generally, they must navigate myriad issues arising from use of government stimulus...more

Foley & Lardner LLP

Reminder October 30 Filing Deadline to file 2019 Form BE-180 Electronically

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For investment advisers, managers/general partners of private funds, registered funds, private funds, and pension funds, among others, you have until October 30 to file Form BE-180, but you must do so electronically. (Yes,...more

Dechert LLP

Mezzanine Foreclosures in the Time of Coronavirus: Chapter 2

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As a follow up to our OnPoint from last week, Mezzanine Foreclosures in the Time of Coronavirus, regarding a New York County Supreme Court’s halting of a mezzanine UCC foreclosure sale, here is our promised update. ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Activist investor Nelson Peltz is officially taking on his biggest target yet—consumer-products giant Procter & Gamble. The announcement begins the public stage of a fight we’ve been waiting for since Peltz’s Trian Fund Mgmt...more

Jones Day

German Constitutional Court Held Parts of Loss Forfeiture Rules are Unconstitutional

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The German Constitutional Court held that a provision of the loss forfeiture rules, in effect from January 1, 2008, through December 31, 2015, is unconstitutional. The provision stipulates a proportional forfeiture of current...more

Dickinson Wright

LLC Membership Interest Purchase Treated As Asset Purchase

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A buyer of a business often will prefer to purchase assets rather than equity interests in order to, among other things, obtain a step-up in the tax basis of the assets of the business equal to its purchase price. The buyer...more

Latham & Watkins LLP

Globally Taxing Issues for Private Equity

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Tax has, in recent months, become a frontpage issue with reaction to businesses not “paying their fair share” sitting alongside pressure on government finances and an uncertain political environment. In our view, the...more

McDermott Will & Emery

Transactions Update: Purchase Price or Compensation

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Purchase Price v. Compensation - ..Companies are choosing to stay private significantly longer than the vesting period for stock options ..Recent proposals by private companies to buy back stock from current and...more

McDermott Will & Emery

Change in LBO Valuation for HSR Purposes

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The Federal Trade Commission (FTC) recently reversed its position on how to calculate the size-of-transaction for HSR purposes in connection with leveraged buyouts (LBOs). This change in position may result in more reportable...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Proposed Treasury Regulations Dramatically Alter Existing Debt/Equity Law"

On April 4, 2016, the Internal Revenue Service (IRS) and Treasury Department proposed new Treasury regulations that, if finalized, would become retroactively effective to April 4, 2016, and dramatically alter the tax...more

McNees Wallace & Nurick LLC

Transferring the Family Business Timing is Everything

One of the most important factors to consider in any business succession plan is the timing of the transition of ownership. Whether a sale or a gift (or combination of the two), no transition should occur before the next...more

Latham & Watkins LLP

Midstream MLP Merger Mania Maintains Momentum

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The market’s notable uptick in MLP-to-MLP M&A activity, often preceded by an acquisition of the target MLP’s general partner, follows a trend we recently identified. At least five MLP M&A transactions have been...more

Mintz - Securities & Capital Markets...

A Committee of Fund Manager Personnel May Not Be Able to Provide the Requisite Consent on Behalf of the Fund for a Principal...

Fund managers may wish from time to time to conduct, or for their principals or affiliates to conduct, securities transactions opposite the fund. The Advisers Act prohibits such transactions – called “principal transactions”...more

Latham & Watkins LLP

Margin Call: Advanced Topics and Practice Points

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In previous installments, we covered the basics of the margin regulations. In our final two installments, we’ll cover a few practice points and explore some of the more complex margin issues (particularly under Regulation U),...more

Foley Hoag LLP

Venture Perspectives - New England Edition: Fourth Quarter and Year 2013

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In This Issue: - Activity Level of 2013 New England Transactions - All Rounds - Activity Level of New England Seed Transactions - Activity Level of New England Series A Transactions - Activity Level of New...more

Polsinelli

Polsinelli Podcast - Keep the Government out of Your Transaction: Practical Antitrust Tips for Mergers

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You're the CEO of a large company considering a merger with a competitor. You've done your due diligence and both companies want to move forward. There are antitrust issues to explore before the deal can be done. In this...more

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