Interesting Reads Archive

Some interesting legal reads for the week of October 5, 2015:

• From the Times’ Steven Davidoff Solomon, the interplay between liquidation preferences and the valuation of unicorns.
• From Bloomberg’s Noah Smith, a nuanced look at why a decision to launch an entrepreneurial venture can be a rational choice.
• The SEC has announced a new database for its rulemaking. Here is the press release. Here is the database
• From the Wall Street Journal, statistical evidence of insiders making market-beating returns in purchase of their own company stock before public disclosures.

Some interesting legal reads for the week of September 21, 2015:

• Noah Smith from Bloomberg on the advantages of the gig economy and efforts that should be made to embrace it.
• The SEC issued its fee rate advisory detailing the new filing fee rate for registration statements.
• The Wall Street Journal on an increasing trend of vendors being willing to accept equity from startups as compensation.

Some interesting legal reads for the week of August 24, 2015:

• Audit Analytics reporting on a trend of declining SEC comment letters on Exchange Act reports.
• Steven J. Harper writing in the New York Times about the continuing glut of law graduates seeking an inadequate number of jobs.
• Bruce Stachenfeld with some thoughts on solo/small law firms.

Some interesting legal reads for the week of August 10, 2015:

• Broc Romanek with the top 10 things to know about the new pay ratio rules.
• The Wall Street Journal with the latest on financing college expenses via equity, i.e., a share of future income.
• The SEC issued 11 new Compliance and Disclosure Interpretations (C&DIs) about general solicitation (nos. 256.23-256.33). C&DI 256.27 explains that meetings with angel financing groups don’t necessarily constitute general solicitation, depending on the circumstances.

Some interesting legal reads for the week of August 3, 2015:

• From the Philadelphia Inquirer, a feature on the increasing popularity of alternative fee arrangements at law firms.
• The Wall Street Journal on how confidential IPO filings are being used strategically to generate acquisition interest.
• Also from the WSJ, a law professor objects to the routine practice of bringing shareholder suits when mergers are announced.
• Well, it’s a good week for the WSJ: the latest on startups and worker classification issues.

Some interesting legal reads for the week of July 20, 2015:

• A study from the Kaufmann Foundation on how entrepreneurs get funded, which emphasizes the guidance provided by VCs and other equity investors that can’t be provided by banks providing loans.
• From the WSJ’s LawBlog, a profile of a law firm that refuses to hire graduates of Ivy League law schools and other top tier schools. While I’m on board with the idea that talent can be found everywhere, and top schools are not great at teaching practical skills, it seems illogical to completely cut out a group of candidates.
• Also from the WSJ, large law firms are cutting their reliance on bank debt, in the wake of the Dewey LeBoeuf collapse.

Some interesting legal reads for the week of July 6, 2015:

• The New York Times on the pitfalls of having too many angel investors.
• The SEC proposed new rules on “clawbacks” of executive compensation following the issuance of erroneous financial statements, as required by Dodd-Frank.
• The SEC also has made available new forms for newly expanded Regulation A. Here, for example, is new Form 1-A.

Some interesting legal reads for the week of June 15, 2015:

• DealBook on how late-stage venture capital investors will invest at high valuations but with very favorable provisions like anti-dilution protection that can ultimately come at the expense of earlier investors.
• Also from DealBook, blue chip investment banks are now paying more attention to start-ups.
• The SEC announced that it will post on EDGAR public correspondence to the effect that registration statements will not be reviewed. Previously, only the deal participants were aware that these letters were sent, though it became obvious to the public when the registration statement was declared effective without an amendment being filed.

Some interesting legal reads for the week of June 1, 2015:

• The Legal Intelligencer on how faulty compensation structures and reliance on the billable hour are hampering law firms.
• The New York Times reports that attorneys with jobs considered lower pay and status tend to be happier.
• DealBook reports that many hedge funds are closing up shop, among other reasons because it’s not worth the trouble to manage other people’s money when you have enough of your own.
• A New York Times profile of ZipCap, which arranges crowdfunded loans for local mom and pop businesses.

Some interesting legal reads for the week of May 4, 2015:

• Bloomberg on how the billable hour is one of the most “disruptive” ideas in our history.
• Noam Scheiber of the New York Times profiling an all-women small law firm that is “militantly against” face time at the office.
• Slate on the state of affairs for 2010 law graduates.
• New York is adopting a Uniform Bar Exam along with 15 other states, allowing practice of law in those states for those who pass. Oh well, too late for me.  But I like being in New York.