On October 8, 2024, Crypto.com filed a civil complaint against the Securities and Exchange Commission (“SEC”) and each of its Commissioners in the Eastern District of Texas seeking declaratory and injunctive relief.  Crypto.com sued the SEC after the regulator sent it a Wells notice, indicating the Division of Enforcement intended to recommend an enforcement action against the Company for operating as an unregistered securities broker-dealer and an unregistered clearing agency in connection with secondary-market sales of certain Targeted Network Tokens.[1]

Renovus Capital Partners has announced it has closed its fourth private equity fund.

The fund, Renovus Capital Partners IV Core Buyout, was oversubscribed and had total capital commitments of $875 million. It will focus on control investments in founder-owned small and mid-sized businesses in the lower middle market.

Renovus, based in Philadelphia, is a…

On September 24, 2024, California enacted Assembly Bill 2863 (the “Bill”) to take effect on July 1, 2025.[1] The Bill updates California’s regulations governing automatic renewals and continuous services. An automatic renewal or continuous service (“auto renewal contract”) is defined as a contract that renews automatically at the end of a definite term or becomes a payable contract after a free trial period.[2] The Bill continues the state trend of expanding regulations to protect California consumers when enrolling in subscriptions.[3]

Shore Capital Partners has announced the closing of its inaugural Healthcare Advantage Fund.

The fund will target healthcare companies in the lower middle market.

In conjunction with announcing the close of the Advantage Fund, Shore Capital announced the close of two other non-healthcare-focused funds. The three new funds each exceeded their targets and together represent…

On September 23, 2024, the U.S. Department of Justice (DOJ) updated its Evaluation of Corporate Compliance Programs (ECCP) guidance.

The ECCP provides prosecutors with questions and factors to consider when assessing a company’s compliance program. Prosecutors use the guidance to assist in making decisions about whether to charge a company and how to resolve cases. The guidance is equally instrumental for companies as they build, strengthen, and internally assess their compliance structure and controls.

Hurricane Helene made landfall in Florida on September 26, 2024, eventually making its way up to western North Carolina where it caused unprecedented damage. The estimated costs associated with these damages grow daily, with AccuWeather currently estimating losses between $145 and $160 billion. Earlier this week, we issued an alert with general tips policyholders should consider when pursuing insurance claims for hurricane-related losses. As damage reports continue to come in from portions of western North Carolina that have been cut off from regular communications, we are updating our guidance for North Carolina policyholders.

RELATED UPDATE: Tips for Pursuing Insurance Claims and Disaster Relief Funding in North Carolina After Hurricane Helene (October 3, 2024)

Hurricane Helene made landfall on Thursday, September 26, 2024, carrying catastrophic 140 mph winds as the first known Category 4 storm to hit Florida’s Big Bend region since records began in 1851. By Friday, Hurricane Helene’s effects could be felt through Georgia, South Carolina, North Carolina, Tennessee, and Virginia, with numerous fatalities and significant property damage and power outages reported across the entire southeastern United States. Flooding from the storm resulted in highway and road closures throughout the region, including Interstate 40 in North Carolina, and multiple dams in Tennessee and North Carolina were on the brink of failure before stormwaters began to subside.