Asset Management

  • January 06, 2025

    Nasdaq Gets SPAC Investor's Racial Bias Claims Tossed

    A federal judge decided Monday to toss a suit from an investor in a minority-led special purpose acquisition company claiming the Nasdaq Stock Market participated in race-based discrimination against investors, saying the plaintiff fails to allege that its injuries were a direct result of Nasdaq's actions.

  • January 06, 2025

    Law School Grad Gets 2 Years For JPMorgan Insider Trading

    A law school graduate was sentenced in California federal court Monday to two years in prison for insider trading on tips from a JPMorgan Chase analyst, while another defendant was spared jail time for his role in the same scheme.

  • January 06, 2025

    Terraform Victims May Exceed 1M, Feds Say In Notice Request

    The U.S. Department of Justice on Monday asked a Manhattan federal judge for permission to issue a public notice to notify potential victims of defunct cryptocurrency firm Terraform Labs' creator Do Kwon's alleged $40 billion fraud, saying there are too many victims — potentially more than one million — to do individual outreach.

  • January 06, 2025

    Biden OKs Social Security Fix In Move Cheered By Unions

    Former government employees who have had their Social Security checks slashed because they receive a pension will see larger payouts this year now that President Joe Biden signed a bill repealing the decades-old benefit cuts, a move applauded by government employee unions.

  • January 06, 2025

    Investment Adviser Says Attys' Mistakes Cost Him His Career

    A Colorado investment adviser has sued two of his former attorneys for malpractice in state court, claiming one failed to clarify that a deal he signed over securities violations also would bar him from working in other states, while the other allegedly failed to timely file an appeal to dispute the settlements.

  • January 06, 2025

    Teoxane Outbids Crown With New Revance Therapeutics Bid

    Teoxane SA said Monday it has submitted a proposal to Revance Therapeutics Inc. to acquire the healthcare biotechnology company for $3.60 per share in cash, one-upping Revance's existing agreement to sell itself to skincare company Crown Laboratories Inc. for $3.10 per share in cash. 

  • January 06, 2025

    Outpatient Surgery Co. Strikes $1.5M Deal To End 401(k) Suit

    United Surgical Partners International Inc. will pay about $1.48 million to end a proposed class action alleging the outpatient surgery network loaded its employee 401(k) plan with expensive investment options and excessive fees, according to a filing in Texas federal court.

  • January 06, 2025

    FTC Blasts Tempur Sealy's New Floor-Space Promise

    The Federal Trade Commission told a Texas federal court a revised commitment from Tempur Sealy to preserve floor space for rivals in Mattress Firm stores would not restore the competition lost by a merger of the companies because it cannot be enforced.

  • January 06, 2025

    Paul Hastings, Cravath Steer Pork Giant Smithfield's IPO Filing

    Pork producer Smithfield Foods Inc. on Monday submitted the year's first filing for an initial public offering, part of a spinoff from China's WH Group Ltd., represented by Paul Hastings LLP and underwriters' counsel Cravath Swaine & Moore LLP.

  • January 06, 2025

    US Wants More Time To Counter Altria's $106M Tax Refund Bid

    Tobacco giant Altria's complaint seeking a $106 million tax refund related to its interests in beverage company Anheuser-Busch requires more research to counter in the event a Virginia federal court decides it can move forward, the U.S. government said in requesting time for potential discovery.

  • January 06, 2025

    Fed's Barr To Step Down As Supervision Head Next Month

    Federal Reserve Vice Chair for Supervision Michael S. Barr announced Monday that he will step down from his current role next month, a reversal that paves the way for President-elect Donald Trump to appoint his own head of the central bank's oversight of big banks and regulatory policymaking.

  • January 06, 2025

    Chinese Billionaire's Deputy Gets 10 Years For $1.4B Fraud

    A Manhattan federal judge sentenced a Chinese business manager to 10 years in prison Monday for her role assisting convicted billionaire Miles Guo's $1.4 billion fraud, saying the lawbreaking was egregious because it leveraged talk of bringing democracy to authoritarian China.

  • January 03, 2025

    DOJ Wants Oct. Amedisys Trial, UnitedHealth Wants Aug.

    The U.S. Department of Justice sparred with UnitedHealth Group in a Maryland federal court filing Friday over when to hold a trial on the government challenge to the $3.3 billion purchase of home health and hospice services company Amedisys Inc.

  • January 03, 2025

    Student Loan Servicer Gets CFPB Deal Paused Amid Appeal

    Student-loan servicer Pennsylvania Higher Education Assistance Agency can pause its work on fulfilling a settlement with the Consumer Financial Protection Bureau while an appeal to the Third Circuit of an "intertwined" settlement with the loan holders plays out, a federal judge ruled Friday.

  • January 03, 2025

    Fund Manager Says Broker-Dealer's Retaliation Led To Losses

    Financial services company Leader Capital Corp. has sued a broker-dealer and a marketing services company for allegedly making false and misleading representations to investors about Leader Capital's compliance with securities laws, causing at least $3.5 million in damage after the investors withdrew funds.

  • January 03, 2025

    Cancer Drug Co. Revives Bid To Go Public Via Direct Listing

    Brain cancer-focused drug developer NeOnc Technologies Holdings Inc. filed plans on Friday to go public through a direct listing, represented by Manatt Phelps & Phillips LLP, as it pursues an alternative to an initial public offering after canceling a prior IPO attempt.

  • January 03, 2025

    Ga. Law Firm Says Investment Co. Dodging $182K Bill

    A Michigan-based investment firm is facing allegations it dodged paying more than $180,000 in legal fees owed to an Atlanta-area law firm, according to a suit removed to Georgia federal court Friday.

  • January 03, 2025

    Missed Deadline Bars Startup Investors' Conspiracy Claims

    A three-year statute of limitations — missed by a little more than a month — dooms civil conspiracy claims in a lawsuit alleging that partners in a venture capital firm created "sham" independent contractor agreements with a firm controlled by one of its partners to charge "massive and inexplicable" fees, a Massachusetts judge has ruled.

  • January 03, 2025

    DE Shaw Rips Air Products' CEO Succession Plan Failure

    Activist investment firm The D.E. Shaw Group on Friday slammed the board of directors of industrial gas supplier Air Products and Chemicals Inc., accusing it of failing to manage an effective CEO succession process, and called for a change in the board's composition and the retirement of the company's current CEO.

  • January 02, 2025

    A-Rod's SPAC Deal Seeks Extra Innings, Plus More IPOs Filed

    The period between Christmas Eve and Jan. 1 wasn't completely quiet on the capital markets deals front, with A-Rod's special purpose acquisition company seeking an extension to complete its merger and several new IPOs being filed. Here, Law360 looks at the capital markets news from the holiday break.

  • January 02, 2025

    Interactive Brokers Fined $2.2M Over 'Free-Riding' Monitoring

    Interactive Brokers LLC has agreed to pay $2.25 million to settle allegations from the Financial Industry Regulatory Authority that the firm failed to detect millions of so-called free-riding transactions in customers' cash accounts.

  • January 02, 2025

    Amazon Used Forfeited 401(k) Cash For Self Gain, Suit Says

    Amazon violated federal benefits law by using millions in abandoned retirement plan funds to its own benefit by offsetting its own contributions instead of using the extra cash to cut down on expenses, according to a worker's proposed class action filed in Washington federal court.

  • January 02, 2025

    Tempur Sealy Ups Floor Space Promise In FTC Merger Case

    Tempur Sealy is increasing its commitments to preserve floor space for rivals' mattresses in Mattress Firm stores, attempting to beat the Federal Trade Commission's merger challenge by extending the current floor space "slot" distribution after a Texas federal judge noted that prior commitments were below current allotments.

  • January 02, 2025

    Del. Courts Gavel Out 2024 With Fox, Opioid Case Rulings

    2024 went out with a flurry of rulings in Delaware's corporate and commercial law courts, while the new year saw a Chancery veteran become that court's first senior magistrate. Here's a quick roundup of the latest news in First State courts.

  • January 02, 2025

    US Sanctions Russia, Iran Over Attempted Election Interference

    The Biden administration has hit Russian and Iranian military and intelligence groups with a fresh round of penalties for their attempts to spread disinformation and stoke political tensions during the 2024 general election.

Expert Analysis

  • Why Calif. Courts Are Split On ERISA Forfeited Contributions

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    A split between two California federal courts, in deciding whether an employer’s use of forfeited retirement plan contributions to offset future costs violates the Employee Retirement Income Security Act, suggests employers should soon expect more ERISA cases to advance this novel legal theory when making anti-inurement and breach of fiduciary duty claims, says Blake Crohan at Alston & Bird.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Tips For Lenders Offering Texas Home Equity Lines Of Credit

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    As interest in home equity lines of credit increases, lenders seeking to utilize such products in Texas must be aware of state-specific requirements and limitations that can make it challenging to originate open-end lines of credit on homestead property, says Tye McWhorter at Polunsky Beitel.

  • Opinion

    After Jarkesy, IRS Must Course-Correct On Captive Insurance

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    The U.S. Supreme Court’s recent Securities and Exchange Commission v. Jarkesy decision has profound implications for other agencies, including the IRS, which must stop ignoring due process and curtailing congressional intent in its policing of captive insurance arrangements, says Peter Dawson at the 831(b) Institute.

  • Dissecting Treasury's Call For Input On AI In Financial Sector

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    The U.S. Department of the Treasury's request for comments on the potential benefits and challenges AI may pose to the financial services sector, which asks how stakeholders are addressing and mitigating increased fraud risks, reflects the federal government's continued interest in AI's effects across the economy, say attorneys at Hogan Lovells.

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • American Airlines ESG Ruling Could Alter ERISA Landscape

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    The Spence v. American Airlines ESG trial, speeding toward a conclusion in a Texas federal court, could foretell a dramatic expansion in ERISA liability, with plan sponsors vulnerable to claims that they didn't foresee short-term dips in stock prices, say attorneys at Mayer Brown.

  • Cyber Incident Response Checklist For SEC Compliance

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    In light of recent guidance from the U.S. Securities and Exchange Commission, which clarified the distinction between two types of cybersecurity incident disclosures, companies should align their materiality assessment, incident response and disclosure control processes to bolster compliance and provide a measure of protection, say attorneys at Troutman Pepper.

  • 2 Rulings Serve As Conversion Fee Warnings For Banks

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    A comparison of the different outcomes in Wright v. Capital One in a Virginia federal court, and in Guerrero v. Bank of America in a North Carolina federal court, highlights how banks must be careful in describing how currency exchange fees and charges are determined in their customer agreements, say attorneys at Weiner Brodsky.

  • Dueling Calif. Rulings Offer Insight On 401(k) Forfeiture Suits

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    Two recent decisions from California federal courts regarding novel Employee Retirement Income Security Act claims around 401(k) forfeitures provide early tea leaves for companies that may face similar litigation, offering reasons for both optimism and concern over the future direction of the law, say Ashley Johnson and Jennafer Tryck at Gibson Dunn.

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • How To Survive Shareholder Activism

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    In an era where shareholder activism is on the rise, companies must identify weaknesses, clearly communicate strategies, update board composition and engage with shareholders consistently in order to avoid disruptive shareholder activism and safeguard the interests of both the company and its shareholders, say J.T. Ho at Orrick and Greg Taxin at Spotlight Advisors.

  • 'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed

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    A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.

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