Category: Regulatory Enforcement

JetBlue’s Acquisition of Spirit and the Anticompetitive Effects

BY: Alex Bonomo, RBFL Student Editor The battle for Spirit began in February 2022, when Frontier made a cash-and-stock offer for Spirit, valued at $2.9 billion.[1] Both companies’ boards of directors adopted their merger agreement on February 5, 2022.[2] On February 7, 2022, Frontier and Spirit announced their agreement,[3] leading to JetBlue’s announcement of its […]

FTX Creditor Litigation Parallels to Enron/WorldCom

BY: Evan Paul, RBFL Editor The collapse of cryptocurrency exchange FTX Trading Ltd. (“FTX”) due to its co-mingling of assets with Alameda Research LLC (“Alameda”) has resulted in a plethora of litigation by those seeking recovery of lost assets. On the more traditional end, this includes bankruptcy proceedings, civil actions by the Securities and Exchange […]

The Use of Cryptocurrency to evade OFAC Sanctions

By: Ryan Connolly, RBFL Student Editor On August 8, 2022, OFAC sanctioned the cryptocurrency mixer Tornado Cash. OFAC alleges that Tornado Cash has been used, through its transaction anonymizing services, to launder over $7 billion worth of cryptocurrency since 2019. Among the most notable launderers was Lazarus Group, a North Korean state-sponsored hacking group who […]

Back to the Future: Collateralized Fund Obligations Make a Reappearance

BY: Jacob Chaas, RBFL Editor The laboratory of financial engineering’s latest concoction has received mixed reviews by pundits. Lauded by some as a “Technicolor Dreamcoat” and criticized as a “Frankenstein” by others, the collateralized fund obligation (“CFO”) transaction has seen an explosion in popularity in recent years. Naturally, these novel transactions raise new concerns for […]

The FTC’s Attempts to Limit Merger and Acquisitions Over-broad Non-competes

BY: Conner Ahler, RBFL Editor The Federal Trade Commission blocked a non-compete agreement between two firms in the process of selling and purchasing gas stations in response to pressure from the Executive Branch to increase competition in the American economy. Employment non-compete agreements are usually the type under such scrutiny, making this action unique. The […]

Regulation of the Metaverse

BY: Harrison Hayne, RBFL Editor While speculation about the metaverse has cooled in recent months, it is doubtful that the metaverse will bow out quietly given the billions of dollars invested in its success by major technology players. A multitude of metaverse platforms are still hoping to use the metaverse to transition the human experience […]