Ropes & Gray Advised Zevia in a $20 Million Growth Equity Investment by GP Investments
BOSTON, Massachusetts, Oct. 24 -- Ropes and Gray, a law firm, issued the following news:
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Ropes & Gray Advised Zevia in a $20 Million Growth Equity Investment by GP Investments
October 23, 2026
Ropes & Gray advised Zevia PBC in its definitive agreement to issue convertible preferred stock to a fund managed by GP Investments Ltd. in exchange for $20 million of growth equity.
The transaction was announced on October 22.
The proceeds will fund Zevia's strategic reset, which focuses on product innovation, digital demand generation and a hybrid go-to-market strategy.
Zevia PBC is a Certified
... Show Full Article
BOSTON, Massachusetts, Oct. 24 -- Ropes and Gray, a law firm, issued the following news:
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Ropes & Gray Advised Zevia in a $20 Million Growth Equity Investment by GP Investments
October 23, 2026
Ropes & Gray advised Zevia PBC in its definitive agreement to issue convertible preferred stock to a fund managed by GP Investments Ltd. in exchange for $20 million of growth equity.
The transaction was announced on October 22.
The proceeds will fund Zevia's strategic reset, which focuses on product innovation, digital demand generation and a hybrid go-to-market strategy.
Zevia PBC is a CertifiedB Corporation offering a portfolio of naturally sweetened, better-for-you beverages made with simple, plant-based ingredients, distributed in more than 41,000 retail locations in the U.S. and Canada.
The Ropes & Gray team was led by mergers & acquisitions partners Suni Sreepada and Chris Comeau and included tax partner Alyssa Kollmeyer, capital markets partner Sam Badawi, and finance partner Jeff Lang.
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URL: Zevia
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Original text here: https://www.ropesgray.com/en/news-and-events/news/2026/10/ropes-gray-advised-zevia-growth-equity-investment-by-gp-investments
[Category: BizLaw/Legal]
Ropes & Gray Advised Zai Lab in $250 Million Private Placement
BOSTON, Massachusetts, Oct. 24 -- Ropes and Gray, a law firm, issued the following news:
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Ropes & Gray Advised Zai Lab in $250 Million Private Placement
October 23, 2026
Ropes & Gray represented global biopharmaceutical company Zai Lab Limited in a securities purchase agreement for the sale of 11,340,000 American Depositary Shares (ADSs), each representing ten ordinary shares of the company, to certain investors in a private investment in public equity (PIPE) financing. The purchase price of each ADS is $22.04.
Gross proceeds from the PIPE financing are expected to be approximately $250
... Show Full Article
BOSTON, Massachusetts, Oct. 24 -- Ropes and Gray, a law firm, issued the following news:
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Ropes & Gray Advised Zai Lab in $250 Million Private Placement
October 23, 2026
Ropes & Gray represented global biopharmaceutical company Zai Lab Limited in a securities purchase agreement for the sale of 11,340,000 American Depositary Shares (ADSs), each representing ten ordinary shares of the company, to certain investors in a private investment in public equity (PIPE) financing. The purchase price of each ADS is $22.04.
Gross proceeds from the PIPE financing are expected to be approximately $250million. The PIPE financing was announced on October 22 and is expected to close on October 27.
Zai Lab intends to use the net proceeds from the PIPE financing primarily to support continued global development of the company's ligand-targeting antibody-drug conjugate drug delivery therapy.
The Ropes & Gray team was led by capital markets partner Will Michener and life sciences partner Arthur Mok.
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URL: Zai Lab
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Original text here: https://www.ropesgray.com/en/news-and-events/news/2026/10/ropes-gray-advised-zai-lab-in-private-placement
[Category: BizLaw/Legal]
Pillsbury Advises LiveOak Ventures and Activate Venture Partners in $7.7 Million Funding Round for Thrive Therapies
NEW YORK, Oct. 24 -- Pillsbury, a law firm, issued the following news release:
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Pillsbury Advises LiveOak Ventures and Activate Venture Partners in $7.7 Million Funding Round for Thrive Therapies
10.23.26
Pillsbury advised LiveOak Ventures, an Austin, Texas-based early-stage venture capital firm, in leading a $7.7 million funding round for Thrive Therapies, a Dallas, Texas-based provider of a technology-enabled pediatric healthcare platform.
The firm also advised Activate Venture Partners, an early-stage venture capital firm for high growth technology companies, in its participation in
... Show Full Article
NEW YORK, Oct. 24 -- Pillsbury, a law firm, issued the following news release:
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Pillsbury Advises LiveOak Ventures and Activate Venture Partners in $7.7 Million Funding Round for Thrive Therapies
10.23.26
Pillsbury advised LiveOak Ventures, an Austin, Texas-based early-stage venture capital firm, in leading a $7.7 million funding round for Thrive Therapies, a Dallas, Texas-based provider of a technology-enabled pediatric healthcare platform.
The firm also advised Activate Venture Partners, an early-stage venture capital firm for high growth technology companies, in its participation inthe round.
Charter School Growth Fund also participated as an investor in the round.
According to recent coverage, Thrive Therapies plans to use the funding to expand into new markets, grow its clinical teams and further develop Thrive Clinical, its clinical intelligence platform.
Click here (https://www.finsmes.com/2026/10/thrive-therapies-raises-7-7m-in-funding.html) to read more.
The Pillsbury deal team was led by Corporate partner Andy Smetana and included counsel Patrick Dolan and associate Lee Alexander.
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URL: LiveOak Ventures
URL: Activate Venture Partners
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Original text here: https://www.pillsburylaw.com/en/news-and-insights/pillsbury-advises-liveoak-ventures-activate-venture-partners-funding-round-thrive-therapies.html
[Category: BizLaw/Legal]
HLB Successfully Defeats Delayed Citation: Significant Victory for Skilled Nursing Facilities Facing Untimely CDPH Enforcement
LOS ANGELES, California, Oct. 24 -- Hooper, Lundy and Bookman, a law firm, issued the following news:
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HLB Successfully Defeats Delayed Citation: A Significant Victory for Skilled Nursing Facilities Facing Untimely CDPH Enforcement
10.23.26
California law requires the California Department of Public Health (CDPH) to serve a citation within 30 days after completing its investigation. The requirement promotes prompt enforcement while facts are fresh, witnesses are available, and records remain accessible.
Delayed citations create serious problems. Evidence may be lost, employees may leave,
... Show Full Article
LOS ANGELES, California, Oct. 24 -- Hooper, Lundy and Bookman, a law firm, issued the following news:
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HLB Successfully Defeats Delayed Citation: A Significant Victory for Skilled Nursing Facilities Facing Untimely CDPH Enforcement
10.23.26
California law requires the California Department of Public Health (CDPH) to serve a citation within 30 days after completing its investigation. The requirement promotes prompt enforcement while facts are fresh, witnesses are available, and records remain accessible.
Delayed citations create serious problems. Evidence may be lost, employees may leave,memories may fade, and regulatory and financial consequences may arise years after the underlying event. For years, CDPH has often disregarded this timing requirement while holding facilities strictly accountable for their own appeal deadlines.
Hooper, Lundy & Bookman recently secured summary judgment dismissing a Class AA citation because CDPH issued it years after completing its investigation. The court also vacated the penalty and all enforcement consequences. The result is a significant victory for providers facing stale enforcement actions.
Understanding Class A and Class AA Citations
A Class A citation generally involves a violation presenting an imminent danger or a substantial probability of death or serious harm to a resident.
A Class AA citation applies when a Class A violation was a substantial factor in causing a resident's death. These citations can carry consequences extending beyond the civil penalty, including public reporting and reimbursement effects.
Why the 30-Day Deadline Matters
Health and Safety Code section 1423 requires CDPH to serve a state citation within 30 days after completing its investigation. California's statutory scheme emphasizes prompt sanctions and expedited resolution of citation disputes.
The deadline protects residents by encouraging timely correction. It also protects facilities from having to defend stale allegations after witnesses, memories, or records are no longer available. CDPH should not be permitted unlimited time to issue a citation while facilities remain bound by strict deadlines to appeal.
A Major Summary Judgment Victory
HLB obtained summary judgment dismissing a delayed Class AA citation without a trial on the underlying allegations. The court concluded that CDPH's failure to comply with the statutory deadline invalidated the citation. The associated penalty and all enforcement consequences were vacated.
The decision shows that untimeliness can provide a dispositive defense. Facilities should not assume that a citation is enforceable merely because CDPH issued it.
Downstream Impact: Protecting WQIP Payments
Challenging a delayed citation can protect more than the amount of the civil penalty. The Skilled Nursing Facility Workforce and Quality Incentive Program (WQIP) provides supplemental payments to eligible facilities based on workforce and quality measures.
A Class AA citation may result in the recoupment or withholding of 100% of applicable WQIP payments. A Class A citation may result in a 40% reduction or recoupment. When CDPH issues a citation years late, a managed care plan may seek repayment of WQIP funds paid years earlier.
If the citation is dismissed as untimely, the basis for the WQIP recoupment may also fall away. Facilities should therefore evaluate whether challenging a delayed citation could preserve supplemental payments already received.
Key Takeaway
Facilities receiving a delayed Class A or Class AA citation should promptly determine when CDPH completed its investigation and whether the citation was served within 30 days. A successful timing challenge may eliminate the citation, its penalty, and significant downstream consequences, including WQIP recoupment.
For more information or assistance on these issues, please reach out to Stanton Stock, Ian Tapu or your regular Hooper, Lundy & Bookman contact.
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Original text here: https://hooperlundy.com/hlb-successfully-defeats-delayed-citation-a-significant-victory-for-skilled-nursing-facilities-facing-untimely-cdph-enforcement/
[Category: BizLaw/Legal]
Fisher Phillips Issues Insight: Employer Cheat Sheet for 2026 Midterm Election Season
ATLANTA, Georgia, Oct. 24 -- Fisher Phillips, a law firm, issued the following Insight:
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Employer Cheat Sheet for 2026 Midterm Election Season
Oct 23, 2026
Here's a handy cheat sheet that summarizes some key points from our Employer FAQs and Insight on navigating employee speech this election season.
Make sure to check out the full series to understand your rights and responsibilities.
Check out our full Election Season Resource Hub (https://www.fisherphillips.com/en/capabilities/resources/election-season-resource-hub) to review all of our offerings and practical resources.
If you
... Show Full Article
ATLANTA, Georgia, Oct. 24 -- Fisher Phillips, a law firm, issued the following Insight:
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Employer Cheat Sheet for 2026 Midterm Election Season
Oct 23, 2026
Here's a handy cheat sheet that summarizes some key points from our Employer FAQs and Insight on navigating employee speech this election season.
Make sure to check out the full series to understand your rights and responsibilities.
Check out our full Election Season Resource Hub (https://www.fisherphillips.com/en/capabilities/resources/election-season-resource-hub) to review all of our offerings and practical resources.
If youhave questions, contact your Fisher Phillips attorney, the authors of this Insight, or any attorney in our Government Relations Practice Group.
Make sure to sign up for Fisher Phillips Insights to stay up to speed on the latest developments.
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Related People
Leanne Lane Coyle
Associate
lcoyle@fisherphillips.com
610/230-6121
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Joshua D. Nadreau
Regional Managing Partner and Vice Chair, Labor Relations Group
jnadreau@fisherphillips.com
617/722-0044
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Original text here: https://www.fisherphillips.com/en/insights/insights/employer-cheat-sheet-for-2026-midterm-election-season
[Category: BizLaw/Legal]
Clark Hill: Right To Know - October 2026, Vol. 46
BIRMINGHAM, Michigan, Oct. 24 -- Clark Hill, a law firm, issued the following legal update:
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Right To Know - October 2026, Vol. 46
October 23, 2026
Cyber, Privacy, and Technology Report
Welcome to your monthly rundown of all things cyber, privacy, and technology, where we highlight all the happenings you may have missed.
View previous issues and sign up to receive future newsletters by email here (https://www.clarkhill.com/right-to-know/).
Litigation & Enforcement:
* OpenAI Sued for Rogue AI Agents: On Sept. 29th, the non-profit organization Legal Advocates for Safe Science and Technology
... Show Full Article
BIRMINGHAM, Michigan, Oct. 24 -- Clark Hill, a law firm, issued the following legal update:
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Right To Know - October 2026, Vol. 46
October 23, 2026
Cyber, Privacy, and Technology Report
Welcome to your monthly rundown of all things cyber, privacy, and technology, where we highlight all the happenings you may have missed.
View previous issues and sign up to receive future newsletters by email here (https://www.clarkhill.com/right-to-know/).
Litigation & Enforcement:
* OpenAI Sued for Rogue AI Agents: On Sept. 29th, the non-profit organization Legal Advocates for Safe Science and Technology("LASST") sued OpenAI in California State Court over OpenAI's agents accessing another company's (Hugging Face's) systems without authorization. The complaint alleges that OpenAI knew about the AI agents' activities and violated California's Unfair Competition Law. The complaint seeks injunctive relief and attorneys' fees.
* Arizona Appeals Court Vacates Sentence That Relied on AI Video of Victim: On Sept. 30th, the Arizona Court of Appeals vacated the sentence of Gabriel Horcasitas who was convicted of manslaughter in a road rage incident. Horcasitas was sentenced to 10.5 years for the manslaughter charge and challenged his conviction and sentence. With respect to sentencing, the trial court was presented with, and relied on, an AI generated video that depicted the deceased victim talking to the court. In announcing the sentence, the trial court specifically referenced the AI video, including stating "I loved that AI." The appellate court vacated the sentence finding the AI video, which did not depict any actual events, was so prejudicial that it rendered the sentencing unfair.
* New CIPA/CMIA Decision: In Doe v. Adventist Health System/West, patients alleged that Adventist Health used Meta Pixel and Google Analytics on its health-risk assessment websites and patient portal to transmit users' information and online activity to Meta and Google without consent, in violation of CIPA and CMIA. The trial court denied class certification, finding that liability would require individualized inquiries into what information each patient transmitted and whether that information qualified as protected communications or medical information. The California Court of Appeal reversed in part, holding that several claims, including the surviving CIPA Sec. 631 claim, could potentially be proven using common technical evidence regarding the operation of the tracking technologies and the information uniformly transmitted to third parties. The court therefore remanded for further certification proceedings. However, it affirmed denial of certification for the patient-portal CMIA claim because plaintiffs had not shown that all portal users necessarily transmitted protected medical information.
* Dartmouth Pays $750,000 Following Oracle Breach: Dartmouth College agreed to pay $750,000 to settle a class action lawsuit arising from a massive 2025 data breach involving Oracle's E-Business Suite software, which the college used for payroll, human resources, accounting, and other administrative functions. The lawsuit alleged that Dartmouth failed to adequately protect the personal information of more than 96,000 individuals, including Social Security numbers and bank account information, after a cyberattack linked to the Clop ransomware group exploited a previously unknown zero-day vulnerability in Oracle's software. Under the proposed settlement, affected individuals may either claim up to $5,000 for documented losses related to the breach or receive an estimated $75 cash payment without documentation, and they are also eligible for two years of credit-monitoring services. Dartmouth denied any wrongdoing and stated that the settlement does not constitute an admission of liability. A final court hearing on the settlement is scheduled for November 2026.
Industry Updates:
* Qilin Leaks Law Enforcement Files Stolen from the ATF: A cybercriminal group believed to be operating out of Russia published files that appear to have been stolen from the Justice Department's Bureau of Alcohol, Tobacco, Firearms and Explosives. The ransomware gang Qilin had earlier taken credit for the breach and began posting the data to its dark web leak site that Monday. A review by CNN and independent researcher Ron Fabela found material on subjects of past ATF investigations, analyses of their phone communications, and files tied to specific agents and prominent cases involving armed robbery, arson, explosives and homicide, with a significant share linked to the Houston Field Division. The agency had disclosed the intrusion the prior week as a "major" incident requiring notice to Congress.
* NIST Finalizes Identity and Access Token Security Guidance: On Sept. 15th, the National Institute of Standards and Technology (NIST), in collaboration with the Cybersecurity and Infrastructure Security Agency, finalized NIST IR 8587, "Protecting Tokens and Assertions from Forgery, Theft, and Misuse," which addresses security risks affecting identity and access tokens in cloud environments and digital identity systems.
Identity and access tokens authenticate users and authorize access to email, cloud applications, and enterprise systems. They underpin modern cloud services, single sign-on, and zero trust architectures by allowing access without repeated authentication. If compromised, however, they can give threat actors the same access as legitimate users. NIST highlights a recent incident in which attackers used forged tokens tied to a stolen signing key to access federal agency email systems and steal more than 60,000 emails from one agency.
The guidance applies to cloud service providers and their customers and sets out principles and implementation considerations to reduce token forgery, theft, misuse, and unauthorized access.
NIST IR 8587 reflects growing regulatory and industry attention to identity-based attacks and token security. Organizations using cloud authentication, single sign-on, or federated identity services should review their token management practices to guard against theft, forgery, and misuse. The NIST guidance provides a benchmark for strengthening identity security controls across public- and private-sector environments.
* Aesto Health Data Breach Exposes Information of 9.5 Million Individuals: Aesto Health, a healthcare technology company that provides data migration, electronic health record exchange, and legacy data archiving services, reported that a cyberattack affected more than 9.5 million individuals. The incident involved unauthorized access to portions of Aesto's Amazon Web Services environment between Dec. 2nd and Dec. 18th, 2025. Following a forensic investigation, Aesto determined that an attacker may have acquired protected health information and personally identifiable information, including names, dates of birth, Social Security numbers, driver's license numbers, financial account information, medical information, health insurance information, and taxpayer identification numbers. The company reported 9,540,683 affected individuals to the U.S. Department of Health and Human Services. At least two dozen healthcare provider clients were affected by the incident.
* WeChat Vulnerability Used, AI, to Allow Zero-Click Access: After finding a vulnerability in the popular communications platform, WeChat, research group, Calif, developed WeWorm, a zero-click worm that exploited a memory-corruption vulnerability in WeChat's VoIP system to spread between iOS and Android devices. By simply calling a contact, an attacker could take over the victim's WeChat account without the victim answering or interacting with the phone, then use that compromised account to target additional contacts. Calif says its AI-assisted team discovered the vulnerability and developed working exploits and a cross-platform worm in a matter of weeks, highlighting how AI can accelerate sophisticated offensive-security research. WeChat was notified in July 2026 and subsequently mitigated the vulnerability through software and server-side fixes; Calif argues that the episode demonstrates both the risks posed by AI-enabled attackers and the potential for AI to help defenders discover and fix vulnerabilities more quickly.
* FBI Confirms Investigation of fbijobs.gov Compromise: The FBI is investigating claims by hacking group ShinyHunters that it compromised the FBIJobs.gov portal and obtained sensitive personal information belonging to FBI employees and job applicants. The FBI has not determined whether the breach originated within its own systems or through a third-party provider and said it is working to mitigate potential risks. ShinyHunters claims to possess data on thousands of agents and applicants, though those claims have not been independently verified. The group also said it was offended by statements in a May FBI advisory describing ShinyHunters as a cybercriminal organization that uses real or exaggerated claims of access to sensitive information to pressure victims for payment and may falsely claim to possess compromising information. ShinyHunters demanded that the FBI retract those statements.
Regulatory:
* TikTok Reaches a Settlement with Alabama Regarding Teen Usage: Attorney General Steve Marshall announced that Alabama reached a settlement with TikTok that will provide the state with at least $100 million, with the possibility of receiving up to $300 million if certain conditions are met. The settlement resolves Alabama's lawsuit alleging that TikTok designed addictive platform features, exposed young users to mental health risks, and misled the public about the safety of its app. In addition to the financial payment, TikTok agreed to implement a series of child-safety measures, including a two-hour daily usage limit for minors, mandatory breaks during extended use, restrictions on overnight access, stronger age-verification requirements, enhanced parental controls, limits on adult interactions with teen accounts, a ban on cosmetic filters for teen users, and a default non-personalized content feed for minors. The agreement was reached just before Alabama was scheduled to become the first state to take TikTok to trial over these allegations, and state officials described the settlement as a significant step toward increasing protections for children and holding social media companies accountable for youth safety.
* HHS OCR Reaches $700,000 HIPAA Settlement with Ambry Genetics Following Phishing Attack Affecting 225,000 Individuals: On Sept. 17th, HHS' Office for Civil Rights announced a $700,000 settlement with Ambry Genetics Corporation following a HIPAA Security Rule investigation tied to a 2020 phishing attack that compromised an employee email account and potentially exposed the protected health information of 225,370 individuals. The information involved included names, addresses, dates of birth, identification numbers, financial information, diagnoses, lab results, medications, and treatment information. OCR identified potential compliance failures, including an inadequate risk analysis, insufficient procedures for terminating workforce access to electronic PHI, and failure to use unique user identification in systems containing ePHI. Under a two-year corrective action plan, Ambry must conduct a comprehensive risk analysis, implement a risk management plan, revise Security Rule policies and procedures, strengthen user identification controls, and provide workforce training.
International Updates:
* South Korea Raises Data Breach Fines to 10% of Revenue: South Korea has raised the stakes for companies that mishandle personal data. Under revisions to the Personal Information Protection Act that took effect Sept. 11th, a company that intentionally or through gross negligence leaks the data of 10 million or more people can be fined up to 10 percent of total revenue, up from the prior cap of 3 percent of sales. The maximum applies to repeat intentional or grossly negligent violations within three years, or to breaches that follow a failure to comply with a corrective order. The rules also reward preparation, allowing reductions of up to 40 percent for sustained investment in privacy budgets, staff and equipment, and a separate reduction of up to 40 percent for early detection, prompt notification and containment.
* Irish Regulator Fines Google Euros403 Million Over Location Data Practices: Ireland's Data Protection Commission has fined Google Euros403 million (roughly $463 million US) after finding that the company violated the EU's General Data Protection Regulation through its handling of location data. The investigation focused on Google's "Web & App Activity," "Location History," and "Location Accuracy" features between 2018 and 2020. Although Google maintains that the case concerns historical policies and that it has substantially improved its location-data controls since 2019, the regulator ordered the company to bring its practices into compliance within six months. The penalty is the fourth-largest imposed by the Irish regulator, which has levied more than Euros4 billion in GDPR fines and is currently conducting three other investigations involving Google.
* Rogue AI Attack by OpenAI Breaches Australian Medicare Statistics Portal: Australian Prime Minister Anthony Albanese recently addressed an incident in which an OpenAI AI agent gained unauthorized access to Australia's public-facing Medicare statistics portal in June 2026. The agent had been conducting research into public medical spending but, after encountering access restrictions, found ways around them and accessed both public and non-public files, while reportedly also writing files to an internal server. At the time of the press conference, there was no evidence that personal Medicare information had been accessed or that the broader Services Australia network had been compromised, although a forensic investigation was still underway. Albanese criticized OpenAI for taking until Sept. 10th to notify the Australian Government and said the company acknowledged that its protocols had not been adequate. In response, the government established a taskforce to investigate the incident, consider potential law-enforcement and legislative responses, and use the findings to inform Australia's planned AI standards, emphasizing the need for safeguards that keep humans in control of AI systems.
* TikTok Accepts pound sterling12.7 Million Children's Privacy Fine: TikTok has withdrawn its appeals and accepted a pound sterling12.7 million fine imposed by the U.K. Information Commissioner's Office (ICO) for violations involving children's personal data. The ICO found that TikTok allowed as many as 1.4 million U.K. children under the age of 13 to use its platform in 2020, despite its own rules prohibiting children under 13 from creating accounts. The regulator also found that TikTok failed to obtain parental consent for the use of their data and did not adequately identify and remove underage users. TikTok's withdrawal of its appeals also allows the ICO to move forward with a separate investigation into the company's use of children's personal information in its recommendation systems.
State Actions:
* Delaware Expands Privacy Law Requirements: On Sept. 2nd, Delaware enacted H.B. 380, significantly amending the Delaware Personal Data Privacy Act (DPDPA), with the changes taking effect on Jan. 1st, 2027. The amendments lower the law's applicability thresholds, expanding coverage to additional small and mid-sized businesses. The law also imposes stricter requirements for the processing and sale of "sensitive data," requiring such processing to be reasonably necessary and proportionate to disclosed purposes and limiting sales of sensitive data to circumstances where such disclosures are strictly necessary to provide requested products or services. In addition, HB 380 requires controllers to conduct reasonable due diligence of processors and third parties, implement specified contractual protections for data sharing arrangements, and respond to new consumer requests regarding disclosures of personal data to third parties. Organizations that process personal data of Delaware residents should evaluate whether the amended DPDPA applies to their operations and review their data governance, vendor management, contracting, and consumer rights processes before the Jan. 1st, 2027, effective date.
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This publication is intended for general informational purposes only and does not constitute legal advice or a solicitation to provide legal services. The information in this publication is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. Readers should not act upon this information without seeking professional legal counsel. The views and opinions expressed herein represent those of the individual author only and are not necessarily the views of Clark Hill PLC. Although we attempt to ensure that postings on our website are complete, accurate, and up to date, we assume no responsibility for their completeness, accuracy, or timeliness.
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Original text here: https://www.clarkhill.com/news-events/news/right-to-know-october-2026-vol-46/
[Category: BizLaw/Legal]
A&O Shearman: Luxembourg Issues Europe's First DLT-native Benchmark Bond
LONDON, England, Oct. 24 -- A&O Shearman, a law firm, issued the following news:
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Luxembourg issues Europe's first DLT-native benchmark bond
Oct 23, 2026
We have advised Spuerkeess in connection with Luxembourg's EUR1.7 billion DLT-native sovereign benchmark bond, one of the first issuances of its kind in Europe.
The landmark ten-year transaction represents a major step in the development of digital capital markets in Luxembourg and Europe, demonstrating how distributed ledger technology (DLT) infrastructure can be deployed at scale for sovereign financing while operating within an established
... Show Full Article
LONDON, England, Oct. 24 -- A&O Shearman, a law firm, issued the following news:
* * *
Luxembourg issues Europe's first DLT-native benchmark bond
Oct 23, 2026
We have advised Spuerkeess in connection with Luxembourg's EUR1.7 billion DLT-native sovereign benchmark bond, one of the first issuances of its kind in Europe.
The landmark ten-year transaction represents a major step in the development of digital capital markets in Luxembourg and Europe, demonstrating how distributed ledger technology (DLT) infrastructure can be deployed at scale for sovereign financing while operating within an establishedinstitutional and regulatory framework. The bond is Eurosystem collateral eligible and allows for an international distribution.
The bond was issued via LuxCSD's D7 DLT platform, with Spuerkeess acting as joint lead manager, issuing agent and paying agent.
A&O Shearman's Luxembourg team was led by Frank Mausen, Philippe Noeltner and Enrico Dalle Mulle.
"This transaction is an important milestone for Luxembourg and for the development of digital capital markets in Europe. The issuance of a sovereign benchmark bond natively on DLT demonstrates that technological innovation can be accommodated within an established legal and regulatory framework, while retaining the characteristics and protections expected by institutional market participants." Frank Mausen
"What is particularly significant about this transaction is the way in which DLT has been integrated into existing capital markets infrastructure rather than developing as a parallel ecosystem. Combining native DLT issuance with a regulated CSD environment, conventional international distribution and Eurosystem collateral eligibility is an important step towards making tokenized securities part of mainstream capital markets." Philippe Noeltner
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URL: Spuerkeess
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Original text here: https://www.aoshearman.com/en/news/luxembourg-issues-europes-first-dlt-native-benchmark-bond
[Category: BizLaw/Legal]
