What We're Reading

Capital Markets

JOBS Act Changes Reduce Benefits of Equity Crowdfunding? [United States]

The Securities Law Prof Blog pointed us to a paper by Professor Sean O'Connor of the University of Washington School of Law that argues that the "the JOBS Act relaxed disclosure and general solicitation rules for the kinds of unregistered stock offerings currently used by start-ups. This means that there may be less practical value for start-ups to explore crowdfunding."

M&A

Litigation Becoming Standard in M&A [United States]

Over at The New York Times, DealBook's Deal Professor, Steven Davidoff, reports on research he undertook that shows that litigation is being instituted in almost all cases where a takeover is announced. Much of it involves disclosure, leading to criticisms that the only parties benefitting are the lawyers. On the positive side, Davidoff notes "[it] is also a boon to buyers, who are no longer liable for future claims from shareholders. This is not