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Asset Management
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March 05, 2025
US Development Agency Opposes Credito Real Ch. 15
The U.S. International Development Finance Corp. has challenged Mexico-based payday lender Credito Real's petition for Chapter 15 recognition in Delaware, alleging its bankruptcy plan, which a Mexican court has approved, contains releases impermissible under U.S. bankruptcy law.
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March 05, 2025
Biotech Co. Maravai Hit With Investor's Internal Controls Suit
Health research tools company Maravai LifeSciences Holdings Inc. has been hit with a proposed shareholder class action alleging it failed to report that it had issues with its internal reporting controls ahead of its announcement that an inaccurate report led to the misallocation of $3.9 million.
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March 05, 2025
DOJ Fights Bid To Pause Piece Of Amedisys Merger Case
The U.S. Department of Justice is opposing a bid from Amedisys to pause allegations that it shirked its merger filing requirements until after a trial on UnitedHealth's acquisition of the home health and hospice company.
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March 04, 2025
NJ Judge Nixes Derivative Suit Over $38M Tech Co. Spinoff
Top brass of a material-handling-equipment maker and the company's controlling shareholder no longer face a shareholder derivative action alleging that they breached their fiduciary duties with a plan to spin off assets to benefit the company's board chair.
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March 04, 2025
Clorox Can't Escape Novel ERISA Suit Over 401(k) Forfeitures
Clorox must face a proposed class action claiming it unlawfully used forfeited 401(k) funds to cover its employer contributions rather than defray plan participants' costs, with a California federal judge ruling a plan participant's allegations were detailed enough to stay in court.
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March 04, 2025
3 Firms Build Instinct Brothers' $242M SPAC Merger
Japanese regenerative medicine and stem cell technology company Instinct Brothers Co. Ltd. on Tuesday unveiled plans to go public through a merger with special purpose acquisition company Relativity Acquisition Corp. in a $242 million deal built by three law firms.
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March 04, 2025
Pretium Clinches $500M Inaugural Legal Opportunities Fund
New York-headquartered investment firm Pretium, advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Tuesday revealed that it closed its inaugural Legal Opportunities Fund after securing roughly $500 million from investors.
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March 03, 2025
Justices Mull If 2nd Circ. Overstepped In Hamas Banking Case
The U.S. Supreme Court on Monday appeared receptive to a Lebanese bank's bid to reverse a ruling that revived a suit brought by victims of Hamas terrorist attacks, in a case that hinges on how civil procedure rules apply to requests to reopen final judgments.
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March 03, 2025
Fenwick-Led AI Startup Coreweave Files For IPO
Artificial intelligence-focused startup CoreWeave Inc. filed plans for an initial public offering Monday, represented by Fenwick & West LLP and underwriters' counsel Latham & Watkins LLP, marking what could become the first major technology IPO of 2025.
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March 03, 2025
SEC Expands Confidential Filing Options For Companies
The U.S. Securities and Exchange Commission on Monday said it is expanding the range of filings that companies can submit for confidential review before such documents become public, predicting that the new accommodations will spur capital formation.
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March 03, 2025
Fired NBA Ref Wants $178K Atty Fees After 2nd Circ. Win
A former longtime NBA referee asked a Manhattan federal judge on Monday to approve an attorney fee of $179,000, after winning $2.9 million in pension benefits in a case over his termination for refusing to get vaccinated against COVID-19.
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March 03, 2025
Kirkland-Led Garnett Station Partners Clinches $1.2B Fund
Kirkland & Ellis LLP-advised Garnett Station Partners on Monday announced that it wrapped its fifth fund after securing $1.2 billion from investors, which will be used to invest across the New York-based firm's core sectors of consumer and business services, health and wellness, automotive, and food and beverage.
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March 03, 2025
Simpson Thacher-Led ICG Wraps $11B Secondaries Fund
British private equity shop ICG, led by Simpson Thacher & Bartlett LLP, said Monday it has clinched its fifth general partner-led secondaries fund well above target after securing $11 billion of capital commitments.
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March 03, 2025
Energy Co. Inks $8.2M Deal In 401(k) Mismanagement Suit
An energy company will pay $8.2 million to resolve a class action lawsuit claiming it failed to trim high cost and underperforming target date funds from its retirement plan, according to Pennsylvania federal court filings.
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March 03, 2025
Former SDNY Top Prosecutor Kim Returns To Private Sector
Veteran white-collar defense lawyer Edward Kim, who most recently served as acting U.S. attorney for the Southern District of New York, said Monday he is returning to the firm he founded, Krieger Lewin LLP, which will be known as KKL.
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February 28, 2025
5 Argument Sessions Benefits Attys Should Watch In March
The Ninth Circuit will mull Express Scripts and OptumRx's bid to force a public nuisance suit brought by the state of California into federal court, and the Second Circuit will hear from pensioners who say that IBM's use of outdated mortality tables shrank their benefits payouts. Here, Law360 looks at these and other appellate arguments happening in March that should be on benefits lawyers' radar.
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February 28, 2025
Up Next At High Court: Gun Violence Liability & Nuclear Waste
The U.S. Supreme Court will return to the bench Monday to consider Mexico's attempt to hold gun manufacturers and distributors liable for cartel-related gun violence and a nuclear waste site dispute that could determine who can challenge future agency actions.
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February 28, 2025
2nd Circ. Revives Electrical Worker's Union Pension Fight
An electrical worker can try again to argue that two trustees of his union pension fund violated the Employee Retirement Income Security Act by paying themselves over $1 million in compensation from the fund's assets, with the Second Circuit ruling Friday that the worker has standing to sue.
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February 28, 2025
Off The Bench: Trans Ban Recusal Bid, Wemby Spat, Fox Suit
In this week's Off The Bench, a Colorado federal judge won't recuse himself from a case centering on a transgender athlete over his pronoun use, the sale of a high-profile Victor Wembanyama jersey will go forward despite feverish litigation and a sprawling harassment suit against Fox Sports is shuffled from federal to state court.
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February 28, 2025
SEC's Crypto Turn Could Undermine Staff, Dem Member Says
The U.S. Securities and Exchange Commission's sole Democratic member has spoken out against its postelection retreat from prosecuting crypto cases, warning that recent actions like the voluntary dismissal of a lawsuit against Coinbase threaten to undermine the agency's enforcement staff.
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February 28, 2025
SPAC Trio Raise $575M Combined As Market Recovers
Three special purpose acquisition companies began trading on Friday after raising a combined $575 million under guidance from six law firms, adding to a resurgent SPAC market.
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February 28, 2025
NY Man Found Guilty Of $7M Crypto Investment Scheme
A New York man has been found guilty by a California federal jury of 14 counts related to allegations that he stole millions of dollars' worth of investment funds and moved them to sports betting sites located outside the U.S.
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February 28, 2025
Carbon Project Investor C-Quest Hits Ch. 7
Carbon project developer C-Quest Capital has filed for Chapter 7 liquidation in a Delaware bankruptcy court as its ex-CEO faces charges he fraudulently obtained millions of dollars worth of carbon credits.
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February 28, 2025
Time To Abolish IPO 'Bureaucracy,' Law Professor Says
The U.S. Securities and Exchange Commission's long-established practice of vetting initial public offering filings through back-and-forth comment letters with companies — essentially a screening process intended to rectify faulty disclosures before public dissemination — is a bureaucratic relic that should be done away with, a law professor argues.
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February 28, 2025
State Street To Buy Mizuho's $580B Custody Business
State Street Corp. said Friday it has agreed to purchase Mizuho Financial Group Inc.'s global custody and related businesses outside of Japan, which it said support the overseas investments of Mizuho's Japanese clients and hold $580 billion in assets under custody and $24 billion in assets under administration.
Expert Analysis
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A Look At Similarities Between SOX And SEC's Cyber Rule
Just as the Sarbanes-Oxley Act paved the way for greater transparency and accountability in financial reporting, the SEC's cybersecurity rule is doing much the same for cybersecurity, ensuring that companies are resilient in the face of growing cyber threats, says Padraic O'Reilly at CyberSaint.
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Class Actions At The Circuit Courts: November Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses six federal court decisions that touch on Rule 23 of the Federal Rules of Civil Procedure, and when individual inquiries are needed to prove economic loss.
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5 Areas Congress May Investigate After GOP Election Wins
With Republicans poised to take control of Congress in addition to the executive branch next year, private companies can expect an unprecedented uptick in congressional investigations focused on five key areas, including cryptocurrency and healthcare, say attorneys at Cahill Gordon.
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Trump's 2nd Term May Be A Boost To Banking Industry
President-elect Donald Trump's personnel appointments could be instrumental in reshaping the financial regulatory landscape during his second administration, likely allowing for greater merger activity and halting or undoing some of the Biden administration's more restrictive financial services policies, say attorneys at Debevoise.
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Predicting Shareholder Activism Trends In New Trump Admin
While President-elect Donald Trump has promised tax policies, deregulation and lax antitrust enforcement — which all fuel shareholder activism — a closer look at his first administration's track record suggests that his second presidency might be a mixed bag for activist investors and companies alike, say attorneys at Sidley.
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What Trump's 2nd Presidency Could Mean For Crypto Sector
Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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Dissecting New Circuit Split Over SEC's Proxy Adviser Rule
The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.
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E-Discovery Quarterly: Recent Rulings On Metadata
Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.
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Parsing SEC's Emerging Trend Of Section 204A Enforcement
The U.S. Securities and Exchange Commission recently settled with Sound Point Capital Management for violating Section 204A of the Investment Advisers Act, adding to a slew of charges against investment advisers that allegedly failed to safeguard material nonpublic information, say attorneys at Cozen O'Connor.
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2nd Circ. Hostile Workplace Ruling Widens Arbitration Pitfalls
The Second Circuit’s recent decision, affirming the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act applies to a worker whose workplace hostility claims arose before the law’s 2022 enactment, widens the scope of the law — and the risks of unenforceable arbitration agreements for employers, say attorneys at Hinshaw.
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Striking A Balance Between AI Use And Attorney Well-Being
As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.
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Insurance Industry Impacts If DOL Fiduciary Rule Is Revived
If implemented following an ongoing appeal at the Fifth Circuit, the U.S. Department of Labor’s rule expanding the Employee Retirement Income Security Act's definition of "fiduciary" could chill insurance agents’ and brokers' ability to sell annuities, and lead to an increase in breach of fiduciary duty lawsuits, say attorneys at Alston & Bird.
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Empathy In Mediation Offers A Soft Landing For Disputes
Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.