Asset Management

  • January 21, 2025

    Thoma Bravo Clinches $3.6B Credit Fund III

    Software investor Thoma Bravo on Tuesday announced that it wrapped fundraising on its most recent credit fund after securing $3.6 billion in total available capital.

  • January 17, 2025

    Law360 Names Practice Groups Of The Year

    Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2024, which honor the attorney teams behind litigation wins and significant transaction work that resonated throughout the legal industry this past year.

  • January 17, 2025

    Law360 Names Firms Of The Year

    Eight law firms have earned spots as Law360's Firms of the Year, with 54 Practice Group of the Year awards among them, steering some of the largest deals of 2024 and securing high-profile litigation wins, including at the U.S. Supreme Court.

  • January 17, 2025

    DOL Says It Recovered $1.4B For Plans, People In Fiscal '24

    The U.S. Department of Labor's Employee Benefits Security Administration announced Friday that it recovered nearly $1.4 billion in direct payments to plans, participants and beneficiaries in 2024, largely stemming from enforcement actions and informal complaint resolutions.

  • January 17, 2025

    SEC Fines Transamerica $2.9M Over Retirement Biz Conflicts

    The U.S. Securities and Exchange Commission on Friday fined registered investment adviser Transamerica Retirement Advisors LLC $2.9 million to settle claims it concealed conflicts of interest generated by Transamerica's incentive compensation payments to representatives.

  • January 17, 2025

    Tennessee, BlackRock Settle Suit Over ESG Goals

    Tennessee Attorney General Jonathan Skrmetti announced Friday that his office has dismissed its lawsuit accusing BlackRock of misleading customers about its environmental, social and corporate governance investment strategies, with the asset manager committing to certain transparency and compliance measures.

  • January 17, 2025

    Up Next At High Court: Forum Shopping & TCPA Definitions

    The U.S. Supreme Court will return to the bench Tuesday for a short argument session, during which the justices will consider the U.S. Food and Drug Administration's bid to limit forum shopping by manufacturers challenging agency decisions and how much deference district courts must give to Federal Communications Commission orders.

  • January 17, 2025

    SEC Says Food Tech Startup Overstated Revenue By $550M

    The U.S. Securities and Exchange Commission on Friday fined venture-backed food technology startup GrubMarket $8 million for allegedly misleading investors by overstating revenue by more than $550 million, with faulty accounting that regulators say the company should have known was unreliable.

  • January 17, 2025

    Sidley-Led Hennessy Capital's 7th SPAC Raises $175M

    Blank-check company Hennessy Capital Investment Corp. VII began trading publicly on Friday after raising $175 million in its initial public offering, which will be used to merge with a company in the industrial technology or energy transition sectors.

  • January 17, 2025

    LPL Fined $18M Over Lax Anti-Money Laundering Compliance

    The U.S. Securities and Exchange Commission on Friday fined LPL Financial LLC $18 million to settle claims that the firm's anti-money laundering program suffered from significant shortcomings, including the failure to close high-risk accounts such as cannabis-related and international accounts.

  • January 17, 2025

    Wells Fargo, BofA Units Pay SEC $60M Over Cash Sweeps

    The U.S. Securities and Exchange Commission on Friday announced that Merrill Lynch and two units of Wells Fargo will pay a combined $60 million to settle claims they failed to implement preventative procedures concerning their cash sweep programs.

  • January 17, 2025

    Crown Labs Tops Rival Bid In Quest To Buy Biotech Revance

    Skincare product company Crown Laboratories Inc. has offered to raise its all-cash bid to buy healthcare biotech company Revance Therapeutics Inc. from $3.10 per share to $3.65 per share as it seeks to beat out a surprise bid from a Revance shareholder, according to a securities filing on Friday. 

  • January 17, 2025

    SEC Fines Unregistered Broker $3M Over Pre-IPO Work

    The U.S. Securities and Exchange Commission on Friday fined an unregistered broker $3 million to resolve charges for illegally brokering transactions related to the stock of private companies that were expected to conduct initial public offerings.

  • January 17, 2025

    Taxation With Representation: Simpson Thacher, Covington

    In this week's Taxation With Representation, Eli Lilly and Co. buys a precision breast cancer program, Applied Digital Corp. enters a financing agreement for its high-performance computing business, Clearwater Analytics buys Enfusion, and Lantheus Holdings Inc. buys Life Molecular Imaging Ltd.

  • January 17, 2025

    5 Firms Build 180 Degree Capital, Mount Logan Merger

    Investment management company 180 Degree Capital Inc. and alternative asset management and solutions business Mount Logan Capital Inc. on Friday announced plans to merge in an all-stock transaction built by five law firms with an estimated pro forma enterprise value of $139 million.

  • January 17, 2025

    Vanguard To Pay SEC, States $106M Over Surprise Tax Bills

    The U.S. Securities and Exchange Commission was joined by dozens of state regulators Friday in announcing a $106.4 million settlement with The Vanguard Group Inc. over claims that the company misled investors about the heightened capital gains taxes they would have to pay on certain retirement savings accounts.

  • January 16, 2025

    SEC's General Counsel Barbero To Exit As Trump Takes Office

    The U.S. Securities and Exchange Commission announced Thursday that General Counsel Megan Barbero will depart the agency on the day of President-elect Donald Trump's inauguration, capping a nearly two-year run that saw the agency face setbacks to its regulatory powers before conservative courts, but also notch some important wins.

  • January 16, 2025

    NY Court Won't Revive Leon Black Sex Assault Suit

    A New York appeals court ruled Thursday that a nondisclosure agreement did indeed bar a woman's sexual assault suit against former Apollo Global Management CEO Leon Black, finding that the NDA was not signed under duress and is therefore valid.

  • January 16, 2025

    FDIC Case Belongs In Fed. Court After Jarkesy, 5th Circ. Told

    A former Herring Bank executive argued in a Fifth Circuit brief that the Federal Deposit Insurance Corp.'s in-house enforcement proceedings against him denied him his right to a jury trial in federal court, saying the allegations against him involve legal issues that have historically been decided by juries.

  • January 16, 2025

    Texas Justices Question If Courts Can Rethink TCPA Motions

    Texas justices questioned whether a trial court can reconsider a motion under the state's anti-SLAPP law to dismiss a farmland-centered REIT's suit against a Dallas-based hedge fund, saying during oral arguments Thursday that allowing it to do so might create a "big hammer" hanging over the parties' heads.

  • January 16, 2025

    AmEx Inks $230M Deal Over DOJ, Fed Small Biz Sales Claims

    American Express has signed a nonprosecution agreement and said Thursday it will pay about $230 million to end investigations by the Department of Justice and the Federal Reserve into the financial services company's previous sales practices for some small business customers in the U.S.

  • January 16, 2025

    Cleveland-Cliffs Sets Sights On US Steel, And More Rumors

    Cleveland-Cliffs has re-emerged as a potential suitor to purchase U.S. Steel after President Joe Biden blocked Nippon's planned purchase, TikTok could be sold to Elon Musk, and Prada is among potential suitors eyeing Versace. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • January 16, 2025

    Paxton-Tied Developer Pleads Guilty In Bank Fraud Case

    A real estate developer whose ties to Texas Attorney General Ken Paxton were central to his 2023 impeachment case pled guilty Wednesday to unrelated charges of making false statements to a mortgage lender.

  • January 16, 2025

    DOL Proposes Rule On Valuing Stock For Purchase By ESOPs

    The U.S. Department of Labor proposed a rule Thursday to help plan managers determine the value of company stock for purchase by an employee stock ownership plan while also withdrawing a previous rule that the DOL proposed in 1988 but never finalized.

  • January 16, 2025

    Ardian Lands $30B For Historic Secondaries Investment Fund

    Private equity shop Ardian has clinched its ninth secondaries fund after amassing $30 billion of investor commitments, making it the largest ever secondaries fund to close globally to date, according to a Thursday statement.

Expert Analysis

  • How Fund Advisers Can Limit Election Year Pay-To-Play Risks

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    With Minnesota Gov. Tim Walz now the Democratic candidate for vice president, politically active investment advisers should take practical steps to avoid triggering strict pay-to-play rules that can lead to fund managers facing mutli-year timeouts from working with public funds after contributing to sitting officials, say attorneys at Dechert.

  • Why Attorneys Should Consider Community Leadership Roles

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    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • 9 Liability Management Tips As Debt Maturity Cliff Looms

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    As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • 5 Ways Life Sciences Cos. Can Manage Insider Trading Risk

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    In light of two high-profile insider trading jury decisions against life sciences executives this year, public companies in the sector should revise their policies to account for regulators' new and more expansive theories of liability, says Amy Walsh at Orrick.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

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    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

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    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

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    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • Banking Compliance Takeaways From Joint Agency Statement

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    Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.

  • 6 Considerations To Determine If A Cyber Incident Is Material

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    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

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