A public offering, or listing of securities for trade on a stock exchange, is an important milestone in the life of any company. Securities laws are highly regulated and require in-depth knowledge and constant monitoring of regulatory and other updates. The top-ranked Capital Markets Group at Yigal Arnon & Co. has extensive experience in this area. We have taken part in numerous public issuances on the Tel Aviv Stock Exchange (TASE) and in more than 100 issuances of stocks and debentures on the U.S. and European markets. We have additional expertise working with dual listings and with innovative structures, such as spin-offs and restructuring. We also have a deep knowledge of U.S. securities laws and experience working with the Securities and Exchange Commission (SEC).
Our Capital Markets Group represents issuers (for example, helping them to draft prospectuses), the issuer’s shareholders (who are offering their shares in the issuance) and underwriters. Our clients are global and are publicly listed in Israel or abroad.
We represent some of the largest companies in Israel as well as their boards of directors and independent subcommittees of their boards. Our team offers comprehensive, ongoing guidance with regard to their routine reporting duties, fiduciary and other obligations, communications with the applicable stock market and regulator, and relevant corporate governance and securities laws.
Yigal Arnon & Co. has handled many public issuances on foreign stock exchanges. Because of our global networking with leading foreign law firms, we are able to provide comprehensive representation tailored to any issue arising in connection with public issuances and the life of a public company after an issuance—in Israel or anywhere in the world. The firm represents clients listed on the TASE, the Nasdaq, the London Stock Exchange (AIM) and the Australian Securities Exchange (ASX).
The Litigation Group at Yigal Arnon & Co. is recognized for its expertise in handling derivative and securities-related actions. Claims of this kind are proliferating as shareholders use the derivative action tool to sue third parties on behalf of their company. We have a proven track record in representing both plaintiffs and defendants in complex securities-related litigation, including boards of directors, shareholders, controlling shareholders and creditors.
Historically, stock market trading floors, where brokers met to buy and sell stocks, were the epicenter of the markets. Today, most brokers are algorithms that trade stocks in fractions of milliseconds. Algorithms have begun to replace investors as well, in a field known as algo trading or High Frequency Trading (HFT). Automated transactions give rise to numerous legal issues.
Yigal Arnon & Co. is at the technological-legal forefront in this area, which positions us to advise an wide array of clients. This includes public companies whose securities are traded by buyer and seller algorithms, clients who develop algo trading and seek our advice in order to comply with evolving laws and regulations, and clients investing in securities who can take advantage of algo trading as a means of risk control.
Another emerging sector that brings with it unique regulatory and legal challenges is that of blockchain technology and virtual currency. In this arena, we combine our exceptional financial and capital markets knowledge with our extensive and diverse experience in the world of cutting-edge technology to provide comprehensive, on-the-mark representation.