Asset Management

  • February 14, 2025

    Some Discovery On Hold In Abbott Infant Formula Case

    An Illinois federal judge granted in part a request by Abbott Laboratories to pause a shareholder derivative suit over how it managed the 2022 infant formula crisis, allowing written discovery to go on while staying depositions until May.

  • February 14, 2025

    Alston & Bird Leads PE-Backed Michigan Bank's $151M IPO

    Shares of private equity-backed Northpointe Bancshares Inc. began trading Friday after the Michigan bank priced an upsized $151 million initial public offering below its marketed range, represented by Alston & Bird LLP and underwriters counsel Squire Patton Boggs LLP.

  • February 14, 2025

    'New Facts' Improper In Penny Stock Action, 2nd Circ. Told

    A Connecticut federal judge violated controlling case law and the constitutional rights of a penny stock CEO when imposing a judgment in a U.S. Securities & Exchange Commission enforcement action, defense counsel told the Second Circuit, arguing that the SEC admitted post-trial that it could not find any victims of the allegedly false public statements at issue.

  • February 14, 2025

    Asset Manager Fiera Broke Bonus Promises, Ex-Exec Says

    A Massachusetts portfolio manager says Fiera Capital Inc. lured him to the asset management firm with promises he could earn up to $850,000 a year, then sidelined him so he was unable to qualify for bonuses and forced him out a year later.

  • February 14, 2025

    Simpson Guides KKR On $850M-Plus Real Estate Credit Fund

    Global investment giant KKR, advised by Simpson Thacher & Bartlett LLP, announced on Friday it had clinched its second opportunistic real estate credit fund, raising over $850 million for a dedicated strategy of investments in senior loans and real estate securities in the U.S. and Western Europe.

  • February 14, 2025

    DOJ Takes Military Bias Dispute With Nev. To 9th Circ.

    The U.S. Department of Justice said it will appeal to the Ninth Circuit after a federal judge tossed its suit accusing the state of Nevada and its public employees retirement system of overcharging service members for pension credits.

  • February 13, 2025

    9th Circ. Panel Doubts SEC's 'Gag Rule' Violates Free Speech

    A Ninth Circuit panel on Thursday appeared to doubt a First Amendment challenge to the U.S. Securities and Exchange Commission's "gag rule" that settling parties cannot deny allegations against them, as each judge noted that the agreements are voluntary.

  • February 13, 2025

    Fake Hedge Funder Pleads Out To $5M AI Trading Scam

    The head of Tadrus Capital on Thursday admitted lying to investors who collectively spent more than $5 million investing in his supposedly artificial intelligence-powered hedge fund, which he claimed would pay out guaranteed double-digit returns.

  • February 13, 2025

    Judge In SEC Case Asks If Fugitive Trader Really Died

    A Connecticut federal judge on Thursday directed the receiver managing the distribution of clawed-back funds diverted in a fraud by fugitive trader Iftikar Ahmed to look into claims that Ahmed has died and report to the court on their veracity.

  • February 13, 2025

    NC Biz Court Bulletin: Defaulted Notes, EB-5 Investor Fraud

    The North Carolina Business Court has been handed in the first half of February a receivership case involving a defaulted $17.5 million promissory note, a fraud suit by Chinese EB-5 investors and a request to depose the chief legal officer of Smithfield Foods Inc.

  • February 13, 2025

    NYC Man Pleads Guilty To $62.8M Crowdfunded CRE Scheme

    A New York City man who raised $62.8 million through commercial real estate platform CrowdStreet for sham developments in Atlanta, Georgia, and Miami Beach, Florida, has pled guilty to a federal wire fraud charge.

  • February 13, 2025

    Musk's $97B OpenAI Bid Dubbed A 'Stunt' Amid Other Rumors

    After a Wall Street Journal report on Monday revealed that a consortium of investors led by Elon Musk was offering $97.4 billion to buy the nonprofit that controls OpenAI, rumors began to swirl regarding the true intentions behind the billionaire's bid.

  • February 13, 2025

    GOP Rep. Moves To Nix SEC's Enhanced Fund Disclosures

    A Republican congressman has introduced a resolution that would repeal a recently adopted U.S. Securities and Exchange Commission regulation requiring more detailed and frequent disclosures from mutual funds.

  • February 13, 2025

    Willkie-Led Defense Firm Karman Prices Upsized $506M IPO

    Shares of Karman Holdings Inc. soared in debut trading Thursday after the defense and space systems firm priced an upsized $506 million above its marketed range, raising money for Karman and its private equity shareholders, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Latham & Watkins LLP.

  • February 13, 2025

    Paul Hastings, Cooley Lead Obesity-Focused Aardvark's IPO

    Obesity-focused Aardvark Therapeutics Inc. began trading Thursday after pricing a $94 million initial public offering at the bottom of its range, represented by Paul Hastings LLP and underwriters' counsel Cooley LLP, joining a string of biotechnology firms to go public recently.

  • February 13, 2025

    Kirkland, Davis Polk Steer SailPoint's Upsized $1.38B IPO

    Private equity-backed cybersecurity firm SailPoint began trading Thursday following an upsized $1.38 billion initial public offering that priced at the top of its range, represented by Kirkland & Ellis LLP and underwriters' counsel Davis Polk & Wardwell LLP, marking its return to public markets three years after being taken private.

  • February 12, 2025

    Trump Picks Encore Fiduciary Founder As DOL Benefits Chief

    The Trump administration on Wednesday nominated Encore Fiduciary's principal and professional fiduciary liability expert Daniel Aronowitz to steer the US Department of Labor's employee benefits division, which produces and enforces federal regulations that apply to employer-provided retirement and healthcare plans.

  • February 12, 2025

    SEC Rescinds Stricter Gensler-Era Proxy Exclusion Guidance

    The U.S. Securities and Exchange Commission on Wednesday rescinded Biden-era guidelines around excluding certain shareholder proposals from proxy statements, reverting the agency's posture to an era that was generally more receptive to companies seeking such exclusions.

  • February 12, 2025

    Klarna Accused Of Intercepting Creators' Commissions

    Online retail finance company Klarna Inc. got hit with a proposed class action by an internet content creator who claims the firm's automatic coupon-finding browser extension redirects customers who click creators' product affiliate links so that Klarna can take the referral commissions those creators depend on.

  • February 12, 2025

    Ex-Schwab Employee Enjoined From Using Client Info

    A Texas federal judge on Wednesday barred a former Charles Schwab employee from using the brokerage firm's allegedly stolen client information, requiring him to return all records and submit any devices with relevant materials for forensic examination.

  • February 12, 2025

    House GOP Eyes Medicaid Cuts, Work Requirements

    House Republicans set their sights on potential cuts and changes to Medicaid on Wednesday, arguing Congress and Elon Musk's Department of Government Efficiency should target improper payments, institute work requirements and repeal a Biden-era rule that made enrolling in the federal healthcare program easier. 

  • February 12, 2025

    Connell Foley Can't Refute DQ Bid, NJ Investment Firm Says

    A Black-owned investment firm suing New Jersey for discrimination in federal court said the court must disqualify Connell Foley LLP from representing the state because of a conflict of interest, even though the supposedly conflicted attorney has denied any ethical breach.

  • February 12, 2025

    Sidley Litigator Tapped For Treasury GC Post

    President Donald Trump has nominated Sidley Austin LLP regulatory litigation and white collar partner Brian P. Morrissey to become the U.S. Department of the Treasury's top lawyer, which would mark a return to the department where he was previously the number two lawyer.

  • February 12, 2025

    Software-Focused PSG Secures $8B Across 2 New Funds

    Software-focused growth equity firm PSG, advised by Davis Polk & Wardwell LLP and Weil Gotshal & Manges LLP, on Wednesday revealed that it clinched its two latest funds after securing a combined $8 billion in capital commitments.

  • February 12, 2025

    NYSE Plans To Launch New Exchange In Texas

    The New York Stock Exchange on Wednesday announced plans to launch a new exchange in Texas, as competition for listed companies in that region intensifies.

Expert Analysis

  • Series

    Beekeeping Makes Me A Better Lawyer

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    The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.

  • Anticipating Jarkesy's Effect On Bank Agency Enforcement

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    Following the U.S. Supreme Court’s decision in U.S. Securities and Exchange Commission v. Jarkesy, federal courts may eventually issue decisions on banking law principles and processes that could fundamentally alter the agencies' enforcement action framework, and the relationship between banks and examiners, says Brendan Clegg at Luse Gorman.

  • CFTC Anti-Fraud Blitz Is A Warning To Carbon Credit Sellers

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    With its recent enforcement actions against a carbon offset project developer and its senior executives for reporting false information about the energy savings of the company's projects, the Commodity Futures Trading Commission is staking out its position as a primary regulator in the voluntary carbon credit market, say attorneys at Morgan Lewis.

  • 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.

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