On October 22, 2015, the Berkeley Center for Law, Business, and the Economy (BCLBE) welcomed Philip J. Tendler, Partner in Pillsbury’s SF Office, for a Q&A discussion about his career and how law school can arm students with the skillset needed to succeed in the wild world of debt finance. A former equity securities analyst […]
Recap: “Practitioner Speaker Series – Life of a Corporate Finance Attorney: A Conversation with Philip Jonathan Tendler, Partner in Pillsbury’s SF Office”
Volkswagen’s U.S. CEO Blames “Individuals” for Dieselgate
Volkswagen’s cheating scandal began in September when emissions data gathered from multiple studies of its vehicles found that additional emissions were present during road tests compared to lab tests. It was discovered that several of Volkswagen’s models contained software that switches to a low-emission compliant mode when it detects an ongoing emissions test. Consequently, multiple […]
Uber Investigates Connection between Data Breach and Lyft CTO
The rivalry between ride-sharing companies Uber and Lyft continues, as Uber probes further into the identity of the hacker responsible for the company’s driver data breach. In February, Uber announced that a hacker improperly downloaded the names and license numbers of about 50,000 of the company’s drivers. Shortly after announcing the breach, Uber filed a […]
Square Discloses IPO Plans
On October 14, 2015, Square, the mobile payments start-up, made public its prospectus for its initial public offering. Private investors valued Square at $6 billion and more than two million merchants accepted five or more Square transactions last year. Even so, Square’s recent filing to raise up to $275 million revealed new information on its […]
Securing the Cloud: Microsoft’s Battle with the Department of Justice
Reliance on cloud storage has become an integral, and often overlooked, aspect of the daily activities of individuals and businesses throughout the world. Information stored in the “cloud” such as emails, photos, contact lists, and documents are actually stored in data centers located in many different countries. The information stored by a user is located […]
Valeant Pharmaceuticals Shares Drop Following Subpoena by U.S. Officials
On October 14, 2015, prosecutors from the U.S. Attorney’s Offices for the District of Massachusetts and the Southern District of New York subpoenaed Valeant Pharmaceuticals for details on its patient assistance programs, drug pricing, and distribution practices. Valeant shares fell following this announcement, closing down 4.7 percent at $168.87. The shares stumbled further by 1.2 […]
Volkswagen to Recall 8.5 Million EU Vehicles
On October 15, Volkswagen announced plans to recall 8.5 million diesel vehicles in Europe, after Germany’s Federal Motor Transportation Authority (KBA) ordered a compulsory recall of 2.4 million vehicles in Germany earlier that day. Volkswagen’s decision to adopt a broad interpretation of the KBA order reflects the company’s challenging task to remedy the 11 million […]
Slumping IPO Market Bodes Poorly for Private Equity Firms Seeking to Cash Out
The recent slowdown of the initial public offering market has made private equity firms suffer. Private equity produce profits through two main channels: management fees based on assets, and commissions generated from the profits of the private equity funds. The latter method is their dominant moneymaking strategy. Bringing the companies in their portfolios to initial […]
A Pact between Lyft and Didi Kuadi against Uber
Lyft, a San Francisco-based cab-hailing service, and its Chinese counterpart, Didi Kuaidi, have announced a partnership that will allow both companies to operate in each other’s countries. Starting early next year, Didi Kuaidi will allow American users to find rides in China using the Lyft app. Likewise, Chinese users entering the US will be able […]
Former Rabobank Traders Face First U.S. Libor Trial
On October 14, 2015, Anthony Allen and Anthony Conti, two London-based former Rabobank traders, were the first to stand trial for criminal charges in the U.S. for allegedly manipulating the London Interbank Offered Rate (Libor) to benefit their colleagues’ trading positions. Libor is the average interest rate at which banks borrow from one another. It […]