Wed.Apr 17, 2024

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Takeaways for In-House Counsel from the SEC’s “Shadow Insider Trading” Trial

JD Supra: Mergers

On April 5, 2024, a jury in California federal court found a former corporate executive liable for insider trading in SEC v. Panuwat, a novel enforcement action involving a theory known as “shadow trading.” In Panuwat, the U.S. Securities and Exchange Commission (SEC) takes the position that the insider trading laws apply where an insider uses material non-public information about his or her own company to trade securities of another company, such as a competitor or peer company in the same.

Trading 187
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National Security: Treasury Proposes Expansion of CFIUS Enforcement Authority

Deal Lawyers

Late last week, the Treasury Department announced the issuance of a Notice of Proposed Rulemaking “to enhance certain CFIUS procedures and sharpen its penalty and enforcement authorities.

Insiders

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Australia's Climate Disclosure Regime Moves Closer to Implementation Beginning 1 January 2025

JD Supra: Mergers

On 27 March 2024, Australia's climate disclosure regime moved a significant step closer to implementation, with the federal government's introduction of proposed legislation into Parliament. Any organisations with a presence in Australia should assess whether they are subject to the regime and, if so, commence planning for compliance.

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TikTok Bill to Be Bundled With Aid to Ukraine and Israel, House Speaker Indicates

The New York Times: Mergers, Acquisitions and Dive

A new measure attempts to force the Senate’s hand on passing legislation to ban TikTok or mandate the app’s sale.

Sale 132
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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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New Insider Trading Precedent: Time To Update Insider Trading Policy

JD Supra: Mergers

On April 5, 2024, the Securities and Exchange Commission (the “SEC”) obtained a verdict after an eight-day civil jury trial in SEC v. Matthew Panuwat (“SEC v. Panuwat”), in which the SEC alleged shadow insider trading, in violation of the federal securities laws. The SEC’s complaint alleged that Panuwat used highly confidential information of his employer, Medivation, Inc.’s (“Medivation”) upcoming acquisition by Pfizer Inc.

Trading 177

More Trending

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Additional States Implement Notice Requirements for Healthcare Transactions

JD Supra: Mergers

In a prior blog post, we noted the trend of states enacting legislation implementing reporting requirements for certain healthcare transactions. On March 13, 2024, Indiana joined this trend as Indiana Governor Eric Holcomb enacted Senate Enrolled Act No. 9 (the Act). The Act mandates that, effective July 1, 2024, Indiana health care entities involved in a merger or acquisition with another health care entity with total assets of at least ten million dollars ($10,000,000) must notify the Office.

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Hedge funds told to strengthen liquidity preparedness for margin and collateral calls

The TRADE

The Financial Stability Board (FSB) has released a consultation report highlighting the need for policy adjustments to address liquidity strains in the non-bank financial intermediaries (NBFI) sector – such as hedge funds – particularly during periods of heightened margin and collateral calls amidst market stress. Reflecting on past instances such as the March 2020 turmoil, Archegos incident, and stress in liability-driven investment funds in 2022, the report underscores the impact of suc

Funds 95
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Final HSR Filing Requirements Are Coming Soon: The Significant Data Implications

JD Supra: Mergers

The wait for the final version of the revised Hart-Scott-Rodino (HSR) Filing Requirements is drawing to an end. At the ABA Antitrust Spring Meeting in Washington last week, Andrew Forman, a deputy assistant attorney general in the Department of Justice’s Antitrust Division, stated that the new rules will be issued in “weeks, as opposed to months.” He also noted that the Federal Trade Commission is leading the charge in formulating the new rules.

Trading 167
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Nike shares may be forming a triple bottom. How to bet on a comeback using options

CNBC: Investing

Nike has underperformed the market, but recently growth expectations from analysts have bottomed. We'll discuss how an options trade to bet on a turnaround.

Shares 110
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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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Seventh Circuit Decision Outlines Framework To Allow Courts To Evaluate Individual Mootness Fees in Merger Challenge Lawsuits

JD Supra: Mergers

The U.S. Court of Appeals for the Seventh Circuit in Jorge Alcarez, et al. v. Akorn Inc., et al. mapped out one means by which a court may evaluate mootness fees paid to individual shareholders after the voluntary dismissal of an action challenging a public company merger. Specifically, the Seventh Circuit held that although a district court does not have the inherent power to review a mootness fee paid to an individual shareholder following the voluntary dismissal of a suit under Rule 41(a) of.

Mergers 161
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Wednesday's analyst calls: Tesla price target cuts, GE spinoff to pop more than 20%

CNBC: Investing

Two of Wednesday's biggest calls on Wall Street centered around a major electric vehicle maker and a newly spun-off energy company.

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Significant Recent Decisions Relevant To Private Company M&A

JD Supra: Mergers

In navigating the complex world of private company mergers and acquisitions (M&A), understanding recent legal decisions is paramount. This white paper serves as a guide, distilling intricate court rulings into digestible insights for business professionals. From governance disputes to acquisition agreement nuances, each case discussed sheds light on pivotal aspects of M&A transactions.

M&A 161
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Barclays says Tesla's latest quarter will miss estimates and pressure Musk to deliver plan on earnings call

CNBC: Investing

Demands are mounting on Elon Musk to turn the wheel on his embattled electric-vehicle company when it reports first-quarter earnings, according to Barclays.

IT 107
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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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A “special merger control regime” for Energy Network Enterprises

JD Supra: Mergers

What has changed? The Energy Act 2023 introduces a new UK merger control regime under which all mergers between energy network companies active in the UK can be assessed for their impact on Ofgem’s ability to make comparisons between energy networks. Transactions can be blocked/unwound where such impact is found to be prejudicial.

Mergers 161
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These three restaurant stocks are poised for an earnings boost, Jefferies says

CNBC: Investing

A few select restaurant chains will emerge as the winners going into the first-quarter earnings season, according to Jefferies.

Stock 112
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F.T.C. Said to Consider Blocking Major Fashion Merger

The New York Times: Mergers, Acquisitions and Dive

Regulators are expected to meet next week to discuss the $8.5 billion deal between Coach’s owner, Tapestry, and Michael Kors’ parent company, Capri Holdings, which would create a U.S. luxury conglomerate.

Mergers 83
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These are Morgan Stanley's top picks into quarterly earnings

CNBC: Investing

The firm's list of top stocks that could bounce on earnings includes a top artificial intelligence play and an e-commerce giant.

Stock 105
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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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Cisco Hypershield: Reimagining Security

Cisco: M&A

It is no secret that cybersecurity defenders struggle to keep up with the volume and craftiness of current-day cyber-attacks.

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The Benefits of Opening an IRA Online

Global Banking & Finance

The Benefits of Opening an IRA Online People spent an average of 401 minutes on the Internet daily in the second quarter of 2023 – the longest in more than a year. While personal finance hardly tops the list of people’s favorite activities online, the sector is undergoing quite a revolution.

Finance 85
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This little-known stock is one of the few making new highs. The charts signal it can keep going

CNBC: Investing

Frank Cappelleri discusses a little-known industrial stock that is breaking out and bucking the market's recent downtrend.

Stock 105
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Supercharging Cisco XDR with AI and Identity Intelligence at RSAC 2024

Cisco: M&A

Cisco XDR is a leader in providing comprehensive threat detection and response across the entire attack surface.

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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Bitcoin miners’ main revenue stream is about to be slashed. Here’s what investors need to know

CNBC: Investing

The bitcoin halving is set to take place in the next few days, which will cut miners' main stream of revenue in half.

Investors 113
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The network effect: The secret weapon for smart manufacturing

Cisco: M&A

The Cisco team will be attending Hannover Messe next week, and we’re excited to network with our customers and industry leaders!

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A four-day work week could be coming as AI proliferates — and these companies could capitalize

CNBC: Investing

Investors believe a four-day work week could boost leisure-related stocks.

Capital 114
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EIB Working Paper 2024/02 - The effect of uncertainty on investment

European Investment Bank

Using firm-level survey data combined with firm-level financial information, this working paper examines the impact of uncertainty on EU firms' investment and employment growth. The analysis shows that increased uncertainty significantly dampens investment and employment. Specifically, high uncertainty is associated with a 1 percentage point drop in employment growth and a 3 percentage point decrease in investment rates.

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Using Data & Analytics for Improving Healthcare Innovation and Outcomes

In the rapidly evolving healthcare industry, delivering data insights to end users or customers can be a significant challenge for product managers, product owners, and application team developers. The complexity of healthcare data, the need for real-time analytics, and the demand for user-friendly interfaces can often seem overwhelming. But with Logi Symphony, these challenges become opportunities.

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This fixed income play touts yields upward of 6% — and the risk is relatively low, Bank of America says

CNBC: Investing

The firm recently began coverage of exchange-traded funds focused on collateralized loan obligations.

Funds 105
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C8 Technologies launches new systemic FX hedge platform

The TRADE

London-based fintech C8 Technologies is set to launch an FX hedging platform which employs systemic trading models to help businesses manage their currency exposures. Named C8 Hedge, the new platform provides guidance to corporate treasurers and investment professionals for managing their foreign exchange exposures across a range of currencies, using online tools.

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TIM LAMB GROUP BROKERS SALE OF FOLSOM LAKE CHRYSLER DODGE JEEP RAM DEALERSHIP IN FOLSOM, CALIFORNIA TO ORIGINAL OWNERS, FIFTH WAVE AUTOMOTIVE GROUP

Global Newswire by Notified: M&A

Columbus, OH, April 17, 2024 (GLOBE NEWSWIRE) -- Steve Corle, Director of the Plains Region for the Tim Lamb Group, headquartered in Columbus, Ohio, the largest auto dealership sales and acquisitions firm in North America, has brokered the sale of Folsom Lake Chrysler Dodge Jeep Ram in Folsom, California. On Wednesday, April 3, 2024, the sale went through as Victory Automotive Group sold Folsom Lake CDJR back to its original owner, Fifth Wave Automotive Group.

Broker 59