Shearman And Sterling

News

Roberts, Sachs and Saw Prepare Amicus Brief for Washington Legal Foundation

Sep 25, 2020

Partner Lyle Roberts (Washington, D.C.-Litigation) and associates Daniel Sachs (New York-Litigation) and Edmund Saw (Washington, D.C.-Litigation) assisted the Washington Legal Foundation (WLF) pro bono in preparing an amicus brief asking the U.S. Supreme Court to review and vacate a decision of the U.S. Court of Appeals for the Second Circuit in a securities class action that could have far-reaching implications.

Perspective

New Disclosure Guidelines
‘Perk-olating’

Sep 25, 2020

It is well known that the impact of the COVID-19 pandemic on business operations has directly affected executive compensation decision-making and related disclosures. With this backdrop, the Securities and Exchange Commission (SEC) has provided timely new guidance on the disclosure of named executive officers’ perquisites and other personal benefits.

Perspective

At Long Last—SEC Modernizes GUIDE 3 Disclosures for Banking Registrants

Sep 25, 2020

Since the 1960s, the U.S. Securities and Exchange Commission (SEC) has had various so-called “Guides” for business disclosure by SEC registrants engaged in banking, oil and gas, real estate, insurance and mining activities. Guide 3, applicable to bank holding companies and other registrants with material lending and deposit activities (including savings and loan holding companies) has required various tabular and qualitative disclosures on these entities’ assets, liabilities and stockholders’ equity, interest rates and interest rate differentials, investment portfolios, loan portfolios, summaries of loan loss experience, deposits, return on equity and assets and short-term borrowings. The requirements have changed little since the 1960s, even though U.S. GAAP and IFRS, the two principal accounting standards used by SEC registrants, have changed significantly.

Event

Why is Reform Perceived to be Necessary?

Sep 25, 2020

Senior associate Paschalis Paschalidis spoke on a panel called “Why is Reform Perceived to be Necessary?” at Stockholm Centre for Commercial Law and Oxford Institute of European and Comparative Law’s 2nd Joint Biennial Conference on September 25, 2020.  

Perspective

Guide to the Evolving Workplace

Sep 24, 2020

Among its many impacts on society, COVID-19 has changed, perhaps permanently, how employees interact with each other and the workplace.

News

Unifiedpost Group’s €252 Million IPO

Sep 24, 2020

Shearman & Sterling advised Unifiedpost Group SA/NV (Unifiedpost) in connection with its initial public offering and Euronext Brussels listing.

News

Next Insurance Raises $250 Million in Series D Financing

Sep 23, 2020

Shearman & Sterling advised insurtech startup Next Insurance in connection with its $250 million Series D financing led by CapitalG, Alphabet's independent growth fund, with participation from FinTLV, a global leading insurtech VC, and existing investor Munich RE Group.  The Series D financing values the company at more than $2 billion.

News

Methanex Corporations $700 Million Notes Offering

Sep 23, 2020

Shearman & Sterling represented J.P. Morgan Securities LLC, BMO Capital Markets Corp., BNP Paribas Securities Corp. and RBC Capital Markets, LLC, as joint book-running managers, and HSBC Securities (USA) Inc., Mizuho Securities USA LLC, BofA Securities, Inc. and nabSecurities, LLC, as co-managers, in connection with the offering by Methanex Corporation of $700 million aggregate principal amount of 5.125% senior notes due 2027.

Perspective

Current Issues Relating To Spin-Offs: Two-Part Discussion

Sep 23, 2020

Partners George Casey, Heiko Schiwek (both New York-Mergers & Acquisitions) and Jay M. Singer (Washington, D.C.-Tax) led a two-part discussion concerning the legal, business and tax considerations for navigating and structuring spin-offs.

News

ADNOC’s $1 Billion Institutional Placement For ADNOC Distribution

Sep 23, 2020

Shearman & Sterling represented Abu Dhabi National Oil Company (ADNOC) on its completed placement to institutional investors of 10% of the total share capital of ADNOC Distribution, valued at $1 billion.