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Venture Briefing: The Rising Tide of Ransomware Venture Briefing: The Rising Tide of Ransomware

Venture Briefing: The Rising Tide of Ransomware

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More Companies Foregoing Initial Public Offerings for Buyouts
U.S. companies are now dropping initial public offerings and selling themselves at the highest rate in three years. This underscores the gap between volatile financial markets and a booming merger business.
(Source: MarketWatch, 2015-11-29) Read the full article
'Down Rounds' Making Their Way Back to Public Markets
The dreaded "down round," when a startup raises capital beneath its prior valuation, is getting pushed back to the public markets. While most companies grow their value in the stock market, Square, Box and Hortonworks went public at market caps that were lower than what late stage venture capitalists signed up for.
(Source: Tech Crunch, 2015-11-22) Read the full article
Private Equity Industry Continues to Show Appetite for Carve-Outs
Companies are going under the knife as chief executives and boards turn to corporate carve-outs to boost their stock prices or appease antitrust officials reviewing mergers. U.S. companies are selling more than $280 billion worth of assets this year, and continued shareholder activism and pending mega-mergers could result in even more carve-outs in 2016.
(Source: Bloomberg, 2015-11-25) Read the full article
Secondary Transactions Becoming Less Popular Option for Startups
Secondary transactions became a popular way to allow founders, employees, and early investors to cash out on some of their illiquid holdings of company stock as well as relieve the pressure on startups to go public. But deals like these may be getting harder to pull off given that the attraction of the late-stage venture capital market may be losing its luster.
(Source: The Wall Street Journal, 2015-11-23) Read the full article
DOJ Considers Revised Policy on White-Collar Crime
Federal white-collar crime prosecutors will give special weight to whether a company discloses possible individual wrongdoing early in evaluating whether it should get any leniency, according to a top U.S. Department of Justice official. The department has revised its policy manual in response to criticism from lawmakers and public-interest groups that it relied too heavily on big-dollar settlements with companies without prosecuting the individuals responsible for the misconduct.
(Source:, 2015-11-17) Read the full article
Investors Find Corporate Sustainability Reports Tough to Navigate
It's still a challenge for investors to get the information they need on environmental, social and governance issues. About 75 percent of the S&P 500 produced sustainability reports in 2015, up from 20 percent in 2011, according to the Governance & Accountability Institute, but investors who want to use the information say the information they are getting is often difficult to compare between companies and tough to incorporate into forecasts.
(Source: The Wall Street Journal, 2015-11-12) Read the full article
>Small Businesses Face Threat of Cyber Attacks, But Few Have Plans
Cyber attacks on big retailers, large insurance companies and major businesses grab the headlines, but the threat is just as significant to small businesses, cybersecurity experts say. A recent Nationwide Insurance survey found that four out of five small-business owners do not have a cyber-attack response plan.
(Source: Des Moines Register, 2015-11-27) Read the full article
Tech Companies Find Lobbying New Part of Job Requirement
Today's tech companies -- even the youngest ones -- have accepted lobbying as an essential part of doing business. In addition to knowing the language of computer code, founders are speaking the language of Washington, keenly aware of the potential regulatory battles that could be on the horizon.
(Source: The New York Times, 2015-11-22) Read the full article
The Rising Tide of Ransomware
Nicholas R. Merker Siddharth “Sid” Bose

On November 3, 2015, the Federal Financial Institutions Examination Council (FFIEC) issued a joint statement notifying banks and financial institutions of the increasing frequency and severity of cyber attacks involving extortion. Read full story online.


By The Numbers

Startup valuations continued to rise in the third quarter. The median increase in valuations was 51%, a healthy clip but down from 74% in the second quarter and the lowest percentage in one year. It remains to be seen whether this is the start of a larger trend.
Source: The Wall Street Journal - Startup Valuations Surge in 3Q, But Data Hints at Pullback


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Ice Miller has been one of the most active law firms in the private equity industry over the last decade, representing both entrepreneurs building great companies and the private equity firms and individuals that invest in them. We have extensive experience with all types of funds (formations and operations); mezzanine and senior secured financing; leveraged buyouts, roll-ups, build-ups, and consolidations; divestitures and exits; and complex litigation on behalf of investors and privately financed companies. In addition, over the past 10 years, Ice Miller has represented hundreds of emerging growth businesses in various industries on such matters as entity formation, capitalization, capital raising, alternative financing, intellectual property rights and protection, growth and exit strategies, corporate governance, tax matters, and many other legal issues that are critical to the growth and success of an emerging company.

Read the complete profile of the Business Group.

Anthony Aaron
Haley Altman
James Banister
Richard Barnhart
Samuel Beavers
Edward Braum
Adam Calisoff
Kristine Camron
Timothy Capen
Joshua Christie
Ryanne Bush Dent
Dustin DuBois
Stephen Edwards
Michael P. Farrell
Harry Gonso
Eric Goodman
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Stephen Hackman
David Hight
Steven Humke
Michael Jordan
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Patrick Kennedy
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Dean Leffelman
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Matthew Servies
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Brent Showalter
Scott Snively
Dale Stackhouse
Emily Storm-Smith
Chase Stuart
John Thornburgh
Richard Thrapp
Kristina Tridico
Michelle Zaretsky


This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.

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