Emerging Growth Companies
The JOBS Act Turns One-Year-Old and It’s Clear that this Ill-Conceived “IPO On-Ramp” Needs an Off-Ramp
In the wake of a sweeping financial crisis that crippled U.S. capital markets and left millions of Americans out of work, Congress passed the Jumpstart Our Business Startups Act in 2012 to revitalize the economy. Commonly known as the “JOBS Act,” the statute was intended to create jobs for Americans by improving access to public [...]
Early Stage Company Seed Venture Funding Skyrockets, But Dark Clouds May Loom Large
New York’s economy is rapidly transitioning from one based largely on the financial services sector to one that is becoming far more heavily reliant on technology, new media, and other entrepreneurial startups. New York-area entrepreneurs have been replacing yuppie investment bankers as the heroes of the economy. In the past two years alone, venture funding [...]
Liberalizing Solicitation: Proposed Rules for Reg D and 144A under the Jobs Act
On August 29, 2012, the US Securities and Exchange Commission released another round of proposed rules pursuant to Title II of the recently passed Jumpstart Our Business Startups Act (“Jobs Act”). If adopted, the amended rules would significantly reduce prohibitions against general solicitation and general advertisement found in Regulation D under Rule 506 and Rule [...]
The Collateral Damage From the Facebook IPO Fiasco
The Facebook IPO fiasco already is the subject of innumerable articles, blogs, tweets, and analyses. Virtually all of the discussion centers, however, on the obvious: Facebook (the issuer), Morgan Stanley (the lead underwriter), Nasdaq (the security exchange) and the investors who saw immediate decline in value. Take a step back and we see that the [...]
JOBS Bill and American Capital Markets
Legislation entitled Jump Start Our Business Startups Act (JOBS) passed the House of Representatives on Tuesday, March 27 with a majority vote . The JOBS Act loosens some of the restrictions of 2002’s Sarbanes-Oxley law and other strict regulations implemented in the wake of Enron and Worldcom scandals. The newly signed bill is also meant to [...]
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TAGS investor protection, JOBS Act, SOX
POSTED IN Capital Markets, Emerging Growth Companies, Legislation
POSTED IN Capital Markets, Emerging Growth Companies, Legislation
Start-Up Lawyers: Law in the Age of Technology Recap
Last Wednesday, March 28, the Student Association for Law & Entrepreneurship (“S.A.L.E.”) of Fordham University’s School of Law held a panel discussion aimed at fostering dialogue between practitioners currently involved in the start-up space and current law students interested in crafting a legal career which meshes entrepreneurship, innovation, [...]
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TAGS betterment.com, etsy.com
POSTED IN Emerging Growth Companies, Fordham Event Recap
POSTED IN Emerging Growth Companies, Fordham Event Recap
Metro NY/NJ Tops the US for New Tech Jobs Created
In yet another example of the growing importance of the technology sector to the metropolitan area, March 2012 marks thirteen consecutive months in which New York City and the surrounding area posted the largest volume of new technology jobs created throughout the United States. The increased focus on technology throughout media and communications companies, combined [...]
Federal Tax Exclusion for Gains on Sales of Stock of Qualified Small Businesses Is Popular Element of the Economic Stimulus Plan
In a rare example of bipartisan cooperation, Congress created a 100% exclusion from federal tax liability for gains on sales of qualified small business stock (“QSBS”), provided that the stock was acquired between September 23, 2010 and December 31, 2010. This long overdue display of positive government action, rather than gridlock, was partly motivated by [...]
New York – The Next Silicon Valley?
In my previous post, I wrote that statistics show that New York currently is the second largest market in the US for venture-capital financing transactions. Proverbial front-runner, California, continues to lead the nation, but New York has now surpassed Massachusetts, long the number two state, as the destination-of-choice for venture capital investment dollars. This is [...]
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TAGS silicon valley, venture capital
POSTED IN Capital Markets, Emerging Growth Companies
POSTED IN Capital Markets, Emerging Growth Companies
Renowned Venture Capitalist Challenges Lawyers to Meet the Needs of Startup Companies in Seed Stage Transactions
Until recently, New York, the financial capital of the world, was not known for being a center of entrepreneurial activity or a hotbed of angel and venture capital investment. Each of Silicon Valley, the Route 128 Corridor, and Research Triangle among others, eclipsed New York. That has certainly changed. Today, New York’s startup, early stage [...]
Featured Video
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Eugene P. and Delia S. Murphy Conference on Corporate Law
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Representation Without Accountability?
- Business Law Practitioners Series – Fall 2011
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The Philosophy and Practice of Disclosure
- BLPS – Rory Cutaia ’85
- The Looming Problems of The Bureau of Consumer Financial Protection
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Financial Reform Legislation: There Ought To Be A Law, But Is This It?
Highlights From Volume 18 Book I
THE BEHAVIORAL PARADOX: WHY INVESTOR IRRATIONALITY CALLS FOR LIGHTER AND SIMPLER FINANCIAL REGULATION
It is widely believed that behavioral economics justifies more intrusive regulation of financial markets, because people are not fully rational and need to be protected from their quirks. This Article challenges that belief. Firstly, insofar as people can be helped to make better choices, that goal can usually be achieved through light-touch regulations. Secondly, faulty [...]
DEMANDING SUBSTANCE OR FORM? THE SEC’S PLAIN ENGLISH HANDBOOK AS A BASIS FOR SECURITIES VIOLATIONS
In 1998, the United States Securities and Exchange Commission (“SEC” or “Commission”) released a style manual titled “The Plain English Handbook.” The culmination of a drive by its Chairman, Arthur Levitt, the Handbook drew upon the rules of grammar, best industry practice, and even the support of billionaire Warren Buffett in calling for a layman’s [...]
FULL OF HOT AIR? EVALUATING THE AIRGAS COURT’S RESERVATIONS ABOUT SHAREHOLDERS’ SHORT-TERM AND LONGTERM INTERESTS IN TAKEOVERS
This Note explores the incentives and preferences of shareholders in takeovers. This analysis is conducted in the context of the Delaware Chancery Court’s February 2011 decision in Air Products & Chemicals v. Airgas. In that case, the court’s decision largely turned on whether certain short-term and long-term shareholders have different preferences and incentives in takeovers. [...]
News & Events
- Can Woman Have It All? A Live Webcast with Anne-Marie Slaughter (4/24/2013)
- 13th Annual A.A. Sommer, Jr. Lecture on Corporate, Securities & Financial Law (4/18/2013)
- 13th Annual A.A. Sommer, Jr. Lecture on Corporate, Securities & Financial Law (4/18/2013)
- International In-House Counsel Breakfast Forum Series for Students (4/18/2013)
- Business Law Practitioners Series for students (4/16/2013)
- Fordham Corporate Center