Reported by Matt Levine (Summary version featured below. To read full report, go to: https://www.bloomberg.com/opinion/newsletters/2025-11-17/private-markets-are-the-new-securities-fraud?embedded-checkout=true) Matt Levine argues that two long-running realities of U.S. finance are colliding: “everything is securities fraud” and “private markets are the new public markets.” Public companies face near-automatic lawsuits whenever bad news emerges, while private companies historically avoid that exposure […]