Asset Management

  • February 06, 2025

    SEC 'Exposes Lunacy' Through Its Dueling Suits, PE Firm Says

    A South Carolina private equity fund said Thursday the U.S. Securities and Exchange Commission is trying to gut it through a Florida lawsuit, telling a Texas judge the commission made "out of touch statements" on how the litigation will harm its business.

  • February 06, 2025

    ERISA Preempts Banker's $5.5M Deferred Comp, Judge Rules

    The Employee Retirement Income Security Act preempts a former Leerink Partners employee's claims that she was cheated out of about $5.5 million in deferred compensation after the bank hired her under allegedly false pretenses from Goldman Sachs, a Massachusetts federal judge ruled Thursday.

  • February 06, 2025

    UnitedHealth Drops Bid To Toss Home Health Deal Challenge

    UnitedHealth Group and home health and hospice giant Amedisys Inc. dropped their bid to toss a case challenging their $3.3 billion merger after enforcers detailed the home health and hospice markets they allege will be hurt by the deal.

  • February 06, 2025

    Northern Trust Corp. Sued In Del. For Alleged Fund Breaches

    The son of a now-deceased California businessman and philanthropist has sued in Delaware's Court of Chancery for the removal of an affiliate of Chicago-based Northern Trust Corp. as trustee for his father's family trust, alleging multiple breaches of fiduciary duty.

  • February 06, 2025

    HP Defeats Ex-Worker's Suit Over 401(k) Forfeitures

    A California federal judge dismissed a proposed class action claiming HP Inc. should have used forfeited funds in its 401(k) plan to pay down administrative fees instead of its own contributions, stating the former worker behind the case hasn't shown the tech company did anything wrong.

  • February 06, 2025

    Hamilton Lane Clinches Inaugural Venture Fund At $615M

    Private equity shop Hamilton Lane, led by DLA Piper, on Thursday announced that it closed its inaugural Venture Access Fund with $615.3 million in tow.

  • February 06, 2025

    Meta Eyes Texas Skies, Another Crypto IPO, And More Rumors

    Facebook owner Meta Platforms Inc. is considering relocating its legal residence to Texas, while cryptocurrency exchange Bullish is moving forward on an initial public offering, and Unilever PLC is eyeing New York as a listing destination for its ice cream business.

  • February 06, 2025

    Honeywell To Split Into 3 Entities After Activist Pressure

    Industrial conglomerate Honeywell, advised by Skadden Arps Slate Meagher & Flom LLP, on Thursday unveiled plans to fully separate its automation and aerospace technology businesses, which when paired with the company's previously announced plan to spin off its advanced materials business, will result in three separate publicly traded companies.

  • February 05, 2025

    Blue Ridge Bankshares, Investors Reach $2.5M Deal

    Blue Ridge Bankshares Inc. and a proposed class of investors have reached a $2.5 million settlement to resolve claims that the multi-state bank holding company engaged in improper loan accounting practices.

  • February 05, 2025

    'Dog Eat Dog' Contract Raises Connecticut Justice's Hackles

    A Connecticut Supreme Court justice on Wednesday challenged private equity firm members fighting a former member's trial court victory in a breach suit over the partnership, suggesting that the winner may have had a viable fiduciary duty claim over the "dog eat dog" operating agreement that apparently allows members to "screw" a minority shareholder.

  • February 05, 2025

    Catholic Investors Bring Smith & Wesson Suit To Fed. Court

    A group of Catholic sisters has refiled in federal court their suit accusing Smith & Wesson's directors and senior executives of placing their own "greed" and "political concerns" above the interests of the company and its stockholders by ignoring the liabilities of marketing AR-15 rifles that are used to perpetrate mass shootings.

  • February 05, 2025

    Schwab To Add Oversight To End TD Ameritrade Buy Suit

    The Charles Schwab Corp. has agreed to implement an antitrust compliance program designed by an independent consultant in order to settle claims from a proposed class of retail investors who alleged they were forced to pay increased transaction costs for trades following the Schwab-TD Ameritrade merger in 2020.

  • February 05, 2025

    Wachtell, Skadden Guide Becton's Bid To Sell Diagnostics Biz

    Becton Dickinson and Co. has agreed to divest its biosciences and diagnostics unit in order to focus more resources on medical technology and maximize shareholder value, the company said on Wednesday.

  • February 05, 2025

    Judge Won't Pause Crowdfunding Case After Fraud Indictment

    A target of the U.S. Securities and Exchange Commission's first crowdfunding enforcement action can't pause that three-year-old case to defend himself against unrelated charges that he ran a pump-and-dump scheme with a hallucinogenic mushroom company, a Michigan judge ruled Wednesday.

  • February 05, 2025

    Trade Groups Urge PBM Crackdown By Trump, Congress

    A coalition of industry trade groups sent letters Wednesday urging President Donald Trump and leaders in Congress to advance legislation reining in pharmacy benefit managers — which intermediate between drugmakers, insurers and pharmacies — in the next piece of federal government funding legislation.

  • February 05, 2025

    Judge Found 'Vertical' Mattress Deal Won't Hurt Competition

    U.S. District Judge Charles Eskridge rejected the Federal Trade Commission's bid to pause Tempur Sealy's planned $5 billion purchase of Mattress Firm after finding a merger of the mattress supplier and retail chain would likely increase competition, if it has any impact at all.

  • February 05, 2025

    Insignia Gets Third $1.9B Bid As Brookfield Joins The Fray

    Insignia Financial Ltd. said Wednesday that Brookfield has become the third investment firm to offer more than $1.9 billion to buy the Australian financial services company. 

  • February 05, 2025

    Entertainment-Focused SPAC Raises $200M To Purse Merger

    Special purpose acquisition company K&F Growth Acquisition II began trading publicly Wednesday after raising $250 million in its initial public offering, which will be used to help the SPAC merge with a target in the in-person and mobile experiential entertainment sector.

  • February 05, 2025

    Missile-Defense Firm Karman Launches Plans For $400M IPO

    Missile-defense and space programs company Karman Holdings Inc. launched plans Wednesday for an estimated $400 million initial public offering that would raise fresh funding for the private equity-backed business and its shareholders, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Latham & Watkins LLP.

  • February 05, 2025

    SEC Moves Under Trump Risk 'Chilling' Staff, Grewal Says

    The reported scaling-back of the U.S. Securities and Exchange Commission's crypto enforcement unit by the new Republican SEC majority could make staff at the agency more fearful of doing their jobs and put investors in jeopardy, former SEC enforcement director Gurbir Grewal said Wednesday.

  • February 04, 2025

    FINRA Fines Broker $3.2M Over Securities Lending Biz

    Broker-dealer Apex Clearing Corp. has agreed to pay the Financial Industry Regulatory Authority $3.2 million to end first-of-its-kind claims that the firm failed to abide by customer protection rules with its fully paid securities lending program, including by misrepresenting how it would compensate participants, leaving certain customers vulnerable to potential tax consequences.

  • February 04, 2025

    SEC Could Greenlight Crypto Trading Under New Task Force

    The U.S. Securities and Exchange Commission's new crypto task force could bless the trading of certain tokens on nonregulated exchanges as the industry awaits agency rulemaking or legislation setting out the new rules of the road for crypto, the task force's leader said Tuesday in a statement laying out her agenda.

  • February 04, 2025

    EB-5 Investors Claim They Were Defrauded In NC Hotel Project

    Two Chinese EB-5 investors said they each lost $500,000 when several Tar Heel State residents and companies duped them in a risky, overleveraged hotel project that is now the subject of litigation assigned Monday to the North Carolina Business Court.

  • February 04, 2025

    Lindberg Fights NC Charging Order Against His Florida Co.

    Convicted mogul Greg Lindberg has told the North Carolina state appeals court that an insurer he's accused of defrauding can't collect a $524 million judgment against him by going after his out-of-state holding company, arguing that the trial court has no power over him or his business in Florida.

  • February 04, 2025

    Fidelity National Urges Del. Toss Of Weak F&G Deal 'Gripe'

    An attorney for Fidelity National Financial Inc. told a Delaware vice chancellor Tuesday that stockholders failed to do more than "fundamentally gripe" about terms of a $250 million investment in spun-off F&G Annuities & Life Inc. when the shareholders sued for breaches of fiduciary duty last year.

Expert Analysis

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

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    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • Peeling Back The Layers Of SEC's Equity Trading Reforms

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    The U.S. Securities and Exchange Commission's recently adopted amendments lowering the tick sizes for stock trading and reducing access fee caps will benefit investors and necessitate broad systems changes — if they can first survive judicial challenges, say attorneys at Sidley.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Series

    Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • How Project 2025 Could Upend Federal ESG Policies

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    If implemented, Project 2025, the Heritage Foundation's policy playbook for a Republican presidential administration, would likely seek to deploy antitrust law to target ESG initiatives, limit pension fund managers' focus to pecuniary factors and spell doom for the U.S. Securities and Exchange Commission's climate rule, say attorneys at Mintz.

  • Opinion

    FDIC's Foray Into Index Fund Rules Risks Regulatory Chaos

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    A proposed Federal Deposit Insurance Corp. rule concerning control over passive index fund investments in banks is outside the agency's remit, clashes with an existing Federal Reserve process and would inhibit competition in the index fund sector, says J.W. Verret at George Mason University.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

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    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

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    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • What To Make Of Dueling Corporate Transparency Act Rulings

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    Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

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    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • To Report Or Not To Report Others' Export Control Violations

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    A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.

  • What FDIC Expansion Of Change In Bank Control Could Mean

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    A recent Federal Deposit Insurance Corp. proposal pertaining to the Change in Bank Control Act has the potential to create uncertainty around investments by mutual fund complexes in banking organizations, which represent a stable source of capital for the banking industry, say attorneys at Sullivan & Cromwell.

  • State Of The States' AI Legal Ethics Landscape

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    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

  • How BIS' Rule Seeks To Encourage More Voluntary Disclosure

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    Updated incentives, penalties and enforcement resources in the Bureau of Industry and Security's recently published final rule revising the Export Administration Regulations should help companies decide how to implement export control compliance programs and whether to disclose possible violations, say attorneys at Freshfields.

  • Making Sure Your Co. Isn't In The Next Section 13(f) Sweep

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    Enforcement actions taken against 11 institutional investment managers for alleged failures to file forms required by Section 13(f) of the Securities Exchange Act serve as a reminder that firms should carefully monitor their obligations to avoid becoming the target of the next enforcement sweep, say attorneys at Ropes & Gray.

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