Try our Advanced Search for more refined results
Asset Management
-
January 29, 2025
2 Blank Check Cos. Plan IPOs Totaling $325M
Two special purpose acquisition companies, Cartesian Growth III and Gesher Acquisition Corp. II, have launched plans for initial public offerings, expecting to raise a combined $325 million.
-
January 29, 2025
Southwest's Plan Oversight Cost Workers Millions, Court Told
Southwest Airlines cost workers millions of dollars in retirement savings by failing to ax a costly and underperforming investment fund from its combined $14 billion retirement plans, according to a proposed class action filed in Texas federal court.
-
January 29, 2025
Milbank Adds Ex-Skadden Financial Restructuring Pro In NY
Milbank LLP has added a corporate restructuring attorney previously with Skadden Arps Slate Meagher & Flom LLP as a partner in its New York office, the firm has announced.
-
January 28, 2025
Judge OKs Refiling Of Suit Over $20M Austin Nightclub Deal
A Texas federal judge granted a bid to dismiss a suit claiming a title company handed over $3 million to a fraudster, saying Tuesday that she would allow the plaintiff to rework its complaint to show the defendants were indeed more heavily tied to the sham than the current complaint contended.
-
January 28, 2025
Ex-SEC Enforcement Chief Says Staff Faced Uptick In Threats
The U.S. Securities and Exchange Commission's recently departed enforcement chief said Tuesday he wishes he could have done more to insulate his staff from the uptick in threats they received while he headed the program, and he urged his successor to do what they could to protect the agency's attorneys.
-
January 28, 2025
Cigna Can't Escape Fight Over Prosthetic Coverage In Maine
Cigna must continue facing an Employee Retirement Income Security Act lawsuit by a man who was denied coverage of his prosthetic device, with a Maine federal judge saying she can't rule on the insurer's dismissal motion until she knows what entity funds the man's healthcare plan.
-
January 28, 2025
Founder Can't Explain Hedge Fund's Filing Mismatch To Jury
A hedge fund founder told a Denver jury Tuesday that he doesn't know why some of the fund's regulatory filings don't identify it as a director for a Colorado biopharmaceutical company, in a suit brought by stockholders who claim the fund must return $11 million earned from short-swing trades.
-
January 28, 2025
Citron Research Founder Slams DOJ's Fraud Suit
Citron Research's founder urged a California federal judge to throw out the federal government's securities fraud case alleging he published unfavorable reports about companies to manipulate stock prices, arguing Monday he never published false information about any public company, and prosecutors fail to allege he intended to defraud his audience.
-
January 28, 2025
Drugs Made In America SPAC Nets $200M To Buy Pharma Biz
Blank-check company Drugs Made In America Acquisition Corp. began trading Tuesday after completing a downsized $200 million initial public offering with the intention of acquiring a U.S.-based pharmaceutical business, represented by Loeb & Loeb LLP and underwriter's counsel Winston & Strawn LLP.
-
January 28, 2025
SEC Wells Meetings Likely Back On The Table, Official Says
The U.S. Securities and Exchange Commission's acting deputy director of enforcement said Tuesday that leadership was open to meeting more frequently with those facing SEC investigations and hinted at the possibility that it would pursue fewer industry bars against those who violate the securities laws.
-
January 28, 2025
Union Worker Entitled To Higher Pension Benefits, Judge Says
A plumbing union pension plan violated federal benefits law when it refused to increase a worker's monthly payments because he opted to retire late, a Minnesota federal judge ruled, finding the plan's terms didn't prevent him from receiving a bump.
-
January 28, 2025
Trader Joe's Accused Of Badly Stocked 401(k), High Fees
Grocery chain Trader Joe's mismanaged its retirement plan for employees to the tune of tens of millions of dollars, according to a potential class action filed Tuesday in Massachusetts federal court.
-
January 28, 2025
Cement Maker Carve-Out Titan America Plans For $396M IPO
The U.S. business of worldwide cement producer Titan Cement Group on Tuesday announced the terms for its initial public offering, planning to raise $396 million.
-
January 28, 2025
Paul Hastings, Cravath Lead Smithfield's Reduced $522M IPO
Shares of pork producer Smithfield Foods Inc., which has spun off from China's WH Group, began trading Tuesday after the company priced a downsized $522 million initial public offering below its initial range, with Paul Hastings LLP advising Smithfield in the offering and Cravath Swaine & Moore LLP representing its underwriters.
-
January 28, 2025
Chancery Bars More Disclosures In Sage-Biogen Fight
A Delaware vice chancellor on Tuesday prohibited Biogen Inc. and its human therapeutics product subsidiary from making public statements regarding a potential buyout of Sage Therapeutics Inc. after Sage sued for enforcement of a standstill provision in an earlier Biogen deal for Sage stock.
-
January 28, 2025
Holland & Knight Adds Financial Services Partner In New York
Holland & Knight LLP has brought on a former Mayer Brown LLP partner who specializes in asset securitization and structured finance to its growing financial services team.
-
January 27, 2025
Virtu, Insiders Sued In Del. Over Stock Buybacks
Stockholders of Virtu Inc. have sued the global financial services venture's top brass in Delaware's Court of Chancery, alleging they diverted roughly $400 million from public stockholders through share repurchases that took advantage of the company's two-tiered corporate structure.
-
January 27, 2025
Fund Tells Jury No Need To Return $11M Short-Swing Profits
A hedge fund told a Denver federal jury Monday that the $11 million it earned from the short-swing sales of a biopharmaceutical company's stock doesn't need to be returned because the transactions fall under an exception to securities law on insider trading.
-
January 27, 2025
Civil Liberties Org. Says FDIC's Court 'Eviscerates' Civil Rights
The New Civil Liberties Alliance told the Fifth Circuit on Monday to spurn the Federal Deposit Insurance Corp.'s attempt to level a fraud judgment against a banker, saying the agency's in-house court sidesteps the constitutional right to a jury trial.
-
January 27, 2025
Allstate Beats Plan Participants' $70M Poor-Performance Suit
An Illinois federal judge handed Allstate a pretrial win Monday over retirement plan participants' claim that the insurer cost them nearly $70 million by holding on to poor-performing funds, saying the plaintiffs' "apples and oranges" comparisons will not sway a jury in their favor.
-
January 27, 2025
HSBC Bankers Fall Short Of Pay Class Cert., Judge Suggests
A New York federal magistrate judge recommended that proposed classes of HSBC Bank personal bankers be denied class certification for allegations that the company shortchanged them on pay in various ways, finding the evidence presented to establish commonality of the claims is full of hearsay.
-
January 27, 2025
Perella Weinberg Had $47M Motive To Ax Partners, Judge Told
Counsel for former partners of investment banking firm Perella Weinberg on Monday signaled to a New York state trial judge that the firm had a financial motive to fire them and pointed to emails calling one a "destructive influence."
-
January 27, 2025
Archegos CFO Gets 8 Years For $100M Stock Fraud Ploy
The former chief financial officer of defunct hedge fund Archegos on Monday was sentenced in New York federal court to eight years in prison for his role in a $100 billion scheme to manipulate the market and defraud banks.
-
January 27, 2025
Obesity-Focused Metsera Leads Biotech Firms Eyeing IPOs
Obesity-focused drug developer Metsera launched plans on Monday for an estimated $275 million initial public offering, joined by kidney-disease focused Maze Therapeutics, both of which plan to tap the markets this week under combined guidance of four law firms.
-
January 27, 2025
Ga. Accountant Must Face Fintech Co.'s Share Price Suit
A Georgia federal judge has declined to dismiss most of a British fintech company's suit against Atlanta-based accounting firm Frazier & Deeter LLC over an allegedly bungled stock valuation, ruling Monday that a hold harmless clause in the companies' contract was largely unenforceable.
Expert Analysis
-
How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
-
Short-Seller Implications Of 10th Circ.'s Overstock Decision
The Tenth Circuit's Oct. 15 decision in Overstock Securities Litigation provides clarity on the pleading standard for a market manipulation claim under the Exchange Act, and suggests that short sellers might not be able to rely on the fraud-on-the-market presumption typically invoked by securities plaintiffs, say attorneys at Paul Weiss.
-
Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
-
Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
-
The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
-
Don't Phone A Friend: Disclosing Friendships With Executives
The U.S. Securities and Exchange Commission's recent settlement against a former Church & Dwight chairman for violating proxy disclosure rules by neglecting to disclose his friendship with an executive officer amid a CEO search illustrates the perils of relying solely on responses to questionnaires circulated to boards, say attorneys at BCLP.
-
Why Diversity Jurisdiction Poses Investment Fund Hurdles
Federal courts' continued application of the exacting rules of diversity jurisdiction presents particular challenges for investment funds, and in the absence of any near-term reform, those who manage such funds should take action to avoid diversity jurisdiction pitfalls, say attorneys at Sher Tremonte.
-
The Ups And Downs Of SEC's Now-Dissolved ESG Task Force
The U.S. Securities and Exchange Commission's Climate and ESG Enforcement Task Force, which was quietly disbanded sometime over the summer, was marked by three years of resistance from some stakeholders to ESG regulation, a mixed record in the courts and several successful enforcement actions, say attorneys at Crowell & Moring.
-
Series
Beekeeping Makes Me A Better Lawyer
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
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
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
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
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
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
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.