Asset Management

  • August 29, 2024

    Hogan Lovells-Led Paint Company Sells Silicas Biz For $310M

    Hogan Lovells-advised paint company PPG on Thursday announced that it has agreed to sell its silicas business to Polish chemicals company Qemetica SA in a deal that would produce roughly $310 million in pre-tax proceeds.

  • August 28, 2024

    Raymond James Hit With Suit Over 'Cash Sweep' Programs

    Financial services giant Raymond James faces a proposed class action in Florida federal court alleging its so-called cash sweep programs offer interest rates "significantly lower" than those offered by competitors, in violation of federal law.

  • August 28, 2024

    SEC To Embattled NC Insurance Exec: Show Us The Money

    The U.S. Securities and Exchange Commission is seeking to force a convicted insurance mogul at the center of an alleged $57 million fraud to tell it what happened to the money he's accused of stealing from the insurance companies he ran, arguing in a North Carolina federal court that his answers thus far don't add up and that he shouldn't be allowed to rely on them at his upcoming trial.

  • August 28, 2024

    Cooley, Latham Steer Defense Co.'s $80M VC Funding Round

    Parry Labs announced Wednesday that the Virginia-based defense technology company, represented by Cooley LLP, has raised $80 million in its first institutional investment round fueled by Capitol Meridian Partners, represented by Latham & Watkins LLP, and other venture capital firms.

  • August 28, 2024

    Businessman Can't Force $1B Gramercy Suit Into Arbitration

    A Wyoming federal judge has ruled that Gramercy Funds Management will not have to arbitrate its racketeering lawsuit accusing a Ukrainian businessman of fraudulently transferring more than a billion dollars from his agricultural business, a debtor of the Connecticut-based hedge fund.

  • August 28, 2024

    Engineering Co. Says Overpriced 401(k) Fee Suit Lacks Proof

    An engineering company urged a Virginia federal judge to toss a former employee's proposed class action alleging it automatically enrolled workers into a pricey managed account program in its $5.1 billion retirement plan, arguing that her suit hinges on a problematic "apples-to-oranges comparison."

  • August 28, 2024

    The NFL-Approved PE Firms That Can Now Invest In Teams

    The NFL made a landmark decision Tuesday to approve private equity ownership of teams, making it the last major North American sports league to bring PE dollars into the mix. It’s not a free-for-all, however; to start, the league selected specific funds that are now allowed to take non-controlling interests in teams. Here, Law360 looks at the approved investment players.

  • August 28, 2024

    Conn. Investment Firm Withheld Pay, Commissions, Suit Says

    Six former employees of Connecticut investment advisory firm Excel Wealth Management LLC have sued the company and its members in state court seeking hourly wages or commissions they claimed they were never paid, with some alleging they were terminated for speaking out about their compensation.  

  • August 28, 2024

    Class Attys Seek Review Of Del. Magistrate's Doc Suit Toss

    Stockholder attorneys probing Paramount Global's allegedly conflicted Skydance Media merger in Delaware's Chancery Court have challenged as unsupportable and unprecedented a magistrate's rejection of anonymously sourced news reports in a dismissal of their bid for court-ordered document access.

  • August 28, 2024

    SEC Omits 'Swing Pricing' Plan From Fund Disclosure Rules

    A divided U.S. Securities and Exchange Commission on Wednesday agreed to require more detailed and frequent disclosures from mutual funds, though regulators dropped plans — at least for now — to implement a controversial "swing pricing" provision.

  • August 28, 2024

    DOL Backs IBM Retirees' Bid To Revive Suit At 2nd Circ.

    The U.S. Department of Labor urged the Second Circuit to revive a proposed class action alleging IBM shorted retirees on pension payments through the use of outdated mortality data, stating the lower court's ruling tossing the case "flies in the face" of U.S. Supreme Court precedent.

  • August 28, 2024

    Latham Leads Entertainment-Focused SPAC's $150M Offering

    Shares of special purpose acquisition company Black Spade Acquisition II Co., which plans to seek a merger target in the entertainment, lifestyle or technology industries, began trading on the Nasdaq on Wednesday following the company's $150 million initial public offering.

  • August 27, 2024

    Wells Fargo Says 'Good Faith' Efforts Ax Investors' Bias Suit

    Wells Fargo & Co. urged a California federal judge Tuesday to toss a derivative lawsuit filed by a putative class of shareholders claiming the bank's board of directors failed to address its discriminatory lending and hiring practices, saying there's evidence of "good-faith" efforts to monitor compliance in those areas.

  • August 27, 2024

    Deutsche Bank, Rabo Beat Antitrust Suit Over Euro Bonds

    A New York federal judge has tossed an antitrust suit against Deutsche Bank AG and Rabo Securities USA, alleging they conspired to fix the price of European government-issued euro-dominated bonds sold throughout the U.S. between 2005 and 2016, saying the plaintiffs lack standing.

  • August 27, 2024

    AT&T Tells Justices 9th Circ. Erred In Reviving 401(k) Suit

    AT&T urged the U.S. Supreme Court to review a Ninth Circuit ruling that upended its defeat of a class action alleging the company mismanaged its employee 401(k) plan, saying Tuesday the appeals court deepened a circuit split that threatens to cause chaos for plan administrators.

  • August 27, 2024

    No Coverage For Tire Co.'s Unpaid Invoices, Judge Rules

    A tire manufacturer cannot get insurance coverage for millions in unpaid invoices it is owed, a Florida federal court has ruled, finding that the manufacturer made a material misrepresentation in its insurance application concerning the creditworthiness of one of its largest customers.

  • August 27, 2024

    NY Fines Nordea Bank $35M In Panama Papers-Linked Action

    New York's Department of Financial Services announced Tuesday that Nordea Bank Abp will pay $35 million to settle allegations of "significant" anti-money laundering compliance failures, including helping customers set up offshore accounts for tax-sheltered companies tied to the Panama Papers.

  • August 27, 2024

    New Jersey Man Gets 3 Years In Prison For Forex Fraud

    A New Jersey man deemed a "modern day snake oil salesman" by Philadelphia's top federal prosecutor has been sentenced to just over three years in prison for defrauding hundreds of investors out of more than $500,000.

  • August 27, 2024

    Nasdaq Seeks SEC's Green Light To Launch Bitcoin Options

    The Nasdaq stock exchange said Tuesday it is seeking regulatory approval to allow the listing of an options tool that tracks the price of bitcoin, a move designed to expand institutional and retail trading of cryptocurrency-related assets.

  • August 27, 2024

    Wells Fargo Seeks To Scrap Ex-Worker's $22M ADA Verdict

    Wells Fargo urged a North Carolina federal court to upend a jury's $22.1 million verdict in favor of a former investment director who alleged he was laid off so the company wouldn't have to accommodate his paralyzed colon and bladder, arguing the evidence presented doesn't support jurors' conclusions.

  • August 27, 2024

    First Busey, CrossFirst Bankshares Merging In $917M Deal

    Sullivan & Cromwell LLP-led First Busey Corp. and CrossFirst Bankshares Inc. said Tuesday they have agreed to merge, setting the path for First Busey to absorb CrossFirst in an all-stock deal that the companies valued at approximately $916.8 million.

  • August 27, 2024

    Travel Co. Inks $1.7M Deal To End 401(k) Mismanagement Suit

    A travel company has agreed to pay $1.7 million to end a Nevada federal lawsuit alleging it loaded down its workers' $370 million 401(k) plan with excessive recordkeeping fees and costly investment funds in violation of its fiduciary duties under federal benefits law.

  • August 27, 2024

    3 Firms Build $314M Events.com SPAC Merger

    Event management platform Events.com plans to go public by merging with Concord Acquisition Corp. II at an estimated $314 million value, both parties announced on Tuesday, through a deal guided by three law firms.

  • August 27, 2024

    Willkie-Led LS Power Secures $2.7B For Latest Fund

    Energy infrastructure-focused investment firm LS Power Group, led by Willkie Farr & Gallagher LLP, on Tuesday said that it clinched its fifth fund with $2.7 billion of investor commitments in tow.

  • August 26, 2024

    SEC Fines Sound Point $1.8M Over Nonpublic Info Oversight

    The U.S. Securities and Exchange Commission announced Monday that private fund adviser Sound Point Capital Management LP will pay $1.8 million to settle charges that it failed to prevent the misuse of nonpublic information in certain collateralized loan trades.

Expert Analysis

  • The Future Of ERISA If High Court Ends Chevron Deference

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    The U.S. Supreme Court's upcoming decisions in two cases involving fishing company challenges to regulatory requirements could weaken or repeal Chevron deference, meaning U.S. Department of Labor regulations adopted under the Employee Retirement Income Security Act may be heavily scrutinized, modified or vacated by federal courts, say Naina Kamath and Julie Stapel at Morgan Lewis.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • SEC's Final Climate Disclosure Rules: What Cos. Must Know

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    While the U.S. Securities and Exchange Commission's scaled-back final rules requiring public companies to disclose certain climate-related information still face challenges in court, companies should begin preparing now to comply with the rules, say Celia Soehner and Erin Martin at Morgan Lewis.

  • 2nd Circ.'s Nine West Ruling Clarifies Safe Harbor Confusion

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    The Second Circuit’s recent ruling in Nine West’s Chapter 11 suit clarifies that courts in the circuit will apply a transfer-by-transfer analysis to determine the applicability of Section 546(e) of the Bankruptcy Code, and that to be safe harbored, a financial institution must act as an agent with respect to the specific transfer at issue, says Leonardo Trivigno at Carter Ledyard.

  • What Fed's Credit-Linked Note FAQ Means For Capital Relief

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    U.S. banks that seek to mitigate their loss of liquidity under the Basel III capital requirements by issuing direct credit-linked notes should turn to recent Federal Reserve FAQs for insight into how this new use of synthetic securitizations may reshape risk and regulation in the U.S. market, says Cris Cicala at Stinson.

  • Del. Dispatch: How Moelis Upends Stockholder Agreements

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    The Delaware Court of Chancery's Moelis decision last month upended the standard corporate practice of providing governance rights in stockholder agreements and adds to a recent line of surprising decisions holding that long-standing, common market practices violate Delaware law, say attorneys at Fried Frank.

  • Litigation Inspiration: A Source Of Untapped Fulfillment

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    As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.

  • Under The Hood Of The SEC Securitization Conflict Rule

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    Elanit Snow and Julia Vitter of Proskauer consider the U.S. Securities and Exchange Commission's recently finalized rule that prohibits conflicts of interest in certain securitization transactions, uncovering what the new regulation does and doesn’t entail, why it was adopted, and how commenters' remarks affected the process.

  • Series

    Skiing Makes Me A Better Lawyer

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    A lifetime of skiing has helped me develop important professional skills, and taught me that embracing challenges with a spirit of adventure can allow lawyers to push boundaries, expand their capabilities and ultimately excel in their careers, says Andrea Przybysz at Tucker Ellis.

  • Practical Steps For Navigating New Sanctions On Russia

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    After the latest round of U.S. sanctions against Russia – the largest to date since the Ukraine war began – companies will need to continue to strengthen due diligence and compliance measures to navigate the related complexities, say James Min and Chelsea Ellis at Rimon.

  • Opinion

    UK Whistleblowers Flock To The US For Good Reason

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    The U.K. Serious Fraud Office director recently brought renewed attention to the differences between the U.K. and U.S. whistleblower regimes — differences that may make reporting to U.S. agencies a better and safer option for U.K. whistleblowers, and show why U.K. whistleblower laws need to be improved, say Benjamin Calitri and Kate Reeves at Kohn Kohn.

  • Think Like A Lawyer: Forget Everything You Know About IRAC

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    The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.

  • The Corporate Transparency Act Isn't Dead Yet

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    After an Alabama federal court's ruling last week rendering the Corporate Transparency Act unconstitutional, changes to the law may ultimately be required, but ongoing compliance is still the best course of action for most, says George Singer at Holland & Hart.

  • How Advance Notice Bylaws Are Faring In Del. Courts

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    Recent decisions make it clear that the Delaware Chancery Court is carefully reviewing public companies' amended advance notice bylaws in order to balance the competing interests of boards and shareholders, and will likely strike down bylaws that improperly interfere with stockholder franchises, say attorneys at Olshan Frome.

  • Employers, Prep For Shorter Stock Awards Settlement Cycle

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    Companies that provide equity compensation in the form of publicly traded stock will soon have one less day to complete such transactions under U.S. Securities and Exchange Commission and Nasdaq rules — so employers should implement expedited equity compensation stock settlement and payroll tax deposit procedures now, say attorneys at Morgan Lewis.

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