Asset Management

  • October 25, 2024

    Off The Bench: Toss-Up For Ohtani Ball, UFC Fighters' Payday

    In this week's Off The Bench, the three claimants to a historic baseball now know how much is at stake for the winner, a long fight against wage suppression for mixed martial arts fighters is a step closer to ending, and WNBA players want a bigger piece of a growing revenue pie.

  • October 25, 2024

    Spirit Airlines Eyes $80M In Cost Cuts Amid New Deal Rumor

    Spirit Airlines will implement layoffs as part of a plan to cut roughly $80 million in costs and has agreed to sell 23 Airbus aircraft to GA Telesis for about $519 million, disclosing the measures as the company is said to be in renewed talks to potentially sell itself to Frontier Airlines. 

  • October 25, 2024

    Skadden, Latham Steer Chinese Driverless Tech Startup's IPO

    Autonomous driving technology developer WeRide Inc., represented by Skadden Arps Slate Meagher & Flom LLP and underwriters' counsel Latham & Watkins LLP, on Friday raised $440.5 million combined through a U.S. initial public offering and private placement, saying it will apply fresh capital toward accelerating its global expansion.

  • October 25, 2024

    Frontier Urges Approval Of 'Highly Attractive' Verizon Deal

    Frontier Communications on Friday urged shareholders to support its planned $20 billion sale to Verizon, calling the $38.50 per-share price tag "highly attractive" despite mounting opposition from top investors, one of which claimed the company may be worth double that.

  • October 25, 2024

    Self-Driving Car Co. Waymo Snags $5.6B In Series C Funding

    Self-driving car company Waymo on Friday announced that it closed a behemoth investing round, raising $5.6 billion from private equity and venture capital investors.

  • October 25, 2024

    Kirkland-Led Nautic Closes Largest-Ever Fund At $4.5B

    Kirkland & Ellis LLP-advised Nautic Partners LLC on Friday announced that it closed its largest fund yet after securing $4.5 billion from investors.

  • October 25, 2024

    Taxation With Representation: Davis Polk, Skadden, Kirkland

    In this week's Taxation With Representation, Atlantic Union Bankshares Corp. absorbs Sandy Spring Bancorp, Sophos and Secureworks merge, Wendel Group takes a stake in Monroe Capital LLC, and Acuity Brands Inc. buys QSC LLC.

  • October 25, 2024

    Goodwin, Cooley Guide Septerna's Upsized $288M IPO

    Clinical-stage drug developer Septerna Inc. is set to debut trading on Friday after pricing an upsized, $288 million initial public offering above its initial range, under guidance from Goodwin Procter LLP and underwriters' counsel Cooley LLP, extending a recent surge in biotechnology IPOs.

  • October 24, 2024

    Truth Social SPAC Founder Wants $1M Award For Payout Suit

    The investment sponsor of the special purpose acquisition company, or SPAC, that took former President Donald Trump's Truth Social media company public has asked for a $1 million fee award for driving the Delaware Chancery Court litigation over the Trump camp's attempts to slash a SPAC deal stock conversion ratio that would have cost some preferred investors millions.

  • October 24, 2024

    FINRA Says Its Regs Apply To Metaverse, Seeks Comments

    Broker-dealers and other firms that are weighing incorporating the metaverse into their business operations should be mindful of how Financial Industry Regulatory Authority rules apply to such activities and reach out with any concerns about regulatory ambiguities, the regulator said Thursday.

  • October 24, 2024

    Va. Judge Won't Block Feds' Nonprofit Disclosure Law

    A Virginia federal judge on Oct. 24 refused to stop the U.S. Department of the Treasury from enforcing a law that requires nonprofits such as community associations to disclose personal identifying information about their beneficial owners and applicants to a Treasury agency that focuses on stopping financial crimes.

  • October 24, 2024

    FINRA Fines Broker Over Securities Lending Algorithm Issues

    Interactive Brokers LLC has agreed to a $475,000 fine from the Financial Industry Regulatory Authority to resolve alleged issues with its securities lending algorithm that resulted in the firm returning borrowed shares to customers when it should not have and for allegedly allowing an unregistered person to work on the algorithm's software development.

  • October 24, 2024

    Katten, Hogan Lovells Guide Tampa Bay Lightning Stake Sale

    The duo behind Blue Owl Capital on Thursday announced plans to buy a stake in NHL team the Tampa Bay Lightning in a deal strung together by Katten Muchin Rosenman LLP and Hogan Lovells.

  • October 24, 2024

    Willkie-Led Ingram Micro Rejoins Markets After $409M IPO

    Private equity-backed technology products distributor Ingram Micro Holding Corp. rallied in debut trading on Thursday, marking the company's return to public markets following a $409 million initial public offering, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Cahill Gordon & Reindel LLP.

  • October 24, 2024

    Southwest Shakes Up Boardroom In Deal With Activist Elliott

    Southwest Airlines on Thursday announced a board shake-up, marking the latest of the airline's moves as part of its "transformational" plan amid pressure from activist investor Elliott Investment Management.

  • October 24, 2024

    Feds Want Leniency For Key Witness At Bankman-Fried Trial

    Prosecutors asked a Manhattan federal judge for leniency when sentencing a former FTX executive who they said provided "substantial" assistance and testimony in the successful prosecution of the bankrupt cryptocurrency exchange's founder Sam Bankman-Fried.

  • October 24, 2024

    Cigna, Frontier Renew Stalled Merger Bids, Plus Other Rumors

    Cigna Group and Frontier Airlines have both restarted once-stalled bids to acquire smaller rivals, rekindling merger rumors spanning the healthcare and airlines industries, while Sports Illustrated's secondary ticket platform wants to borrow up to $50 million to acquire competitor Anytickets. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • October 24, 2024

    SEC Says German On Hook For $4.6M Tied To Fraud Scheme

    The U.S. Securities and Exchange Commission asked a judge on Thursday to reinstate a $3.3 million disgorgement order, plus $1.3 million in interest, against a German national who allegedly received proceeds from a multinational pump-and-dump scheme.

  • October 23, 2024

    Crypto Co. Tron, Founder Can't Shake Investor Suit Over ICO

    Blockchain firm Tron Foundation and its founder Justin Sun on Wednesday partially lost their bid to dismiss a shareholder suit alleging they sold unregistered tokens in a 2017 initial coin offering, with a New York federal judge ruling the claims have enough of a connection to New York to proceed.

  • October 23, 2024

    Ameriprise, Ex-Worker Duo To Arbitrate Stolen Docs Claims

    Financial services company Ameriprise will arbitrate claims that a father-son pair of ex-employees took confidential records "in the dark of the night" on their way out the door to work for a competitor, the Financial Industry Regulatory Authority has determined.

  • October 23, 2024

    Investor Tied To Texas AG Seeks Investigation Info From Feds

    Real estate investor Nate Paul is looking to get more information from federal prosecutors about their investigation into federal fraud charges he's facing — topics that featured prominently during the failed impeachment of Texas Attorney General Ken Paxton — according to court filings from U.S. Attorney's Office employees.

  • October 23, 2024

    3 Things To Know About Proposed OTC Contraception Regs

    The Biden administration's proposal to require private health insurers to pick up the cost of over-the-counter contraception could increase access for an estimated 52 million women. Here are three things to know about the newly proposed regulations.

  • October 23, 2024

    Chancery Mulls Call To Toss $7B Focus Financial Merger Suit

    An attorney for private equity firm Stone Point Capital told Delaware's chancellor Wednesday that there was no control group formed before the $7 billion August 2023 go-private merger between Focus Financial Partners Inc. and Clayton Dubilier & Rice LLC, and that a ruling otherwise would "lower the bar" for control allegations.

  • October 23, 2024

    SEC's Peirce Calls For Compliance Advisory Committee

    The U.S. Securities and Exchange Commission's Hester Peirce on Wednesday detailed her vision for a compliance advisory committee that would give the agency a way to collect and evaluate concerns about new rules from in-house compliance staff.

  • October 23, 2024

    Feds Say Conn. Oil Trader's Ailing Brother Deserves Prison Time

    A Connecticut businessman who worked with his brother and others to run an oil industry bribery scheme in Brazil should go to prison despite his bladder cancer diagnosis, the government said, arguing incarceration is necessary "to reflect the seriousness of the offense, and to afford adequate deterrence."

Expert Analysis

  • 2nd Circ. ERISA Ruling May Help Fight Unfair Arb. Clauses

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    The Second Circuit recently held that a plaintiff seeking planwide relief under the Employee Retirement Income Security Act cannot be compelled to individual arbitration, a decision that opens the door to new applications of the effective vindication doctrine to defeat onerous and one-sided arbitration clauses, say Raphael Janove and Liana Vitale at Janove.

  • Series

    Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

  • Series

    After Chevron: No Deference, No Difference For SEC Or CFTC

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    The Chevron doctrine did not fundamentally alter the interplay between the courts and the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission in the development of the securities and commodities laws — and its demise will not do so either, says Dan Berkovitz at Millennium Management.

  • Opinion

    Industry Self-Regulation Will Shine Post-Chevron

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    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

  • 3 Ways Agencies Will Keep Making Law After Chevron

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    The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.

  • After Chevron

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    Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • Proposed Customer ID Rule Could Cost Investment Advisers

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    A rule recently proposed by FinCEN and the U.S. Securities and Exchange Commission to make financial advisers collect more customer information parallels an anti-money laundering and counterterrorism rule proposed this spring, but firms may face new compliance costs when implementing these screening programs, say attorneys at Lowenstein Sandler.

  • What 2 Rulings On Standing Mean For DEI Litigation

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    Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.

  • 4 Important Events In Bank Regulation: A Midyear Review

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    The first six months of 2024 have been fairly stable for the banking industry, though U.S. Supreme Court decisions and proposals from regulators have significantly affected the regulatory standards applicable to insured depository institutions, says Christina Grigorian at Katten.

  • Series

    Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Advisers Can Avoid Gaps In SEC Marketing Rule Compliance

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    A recent risk alert from the U.S. Securities and Exchange Commission and the enforcement history of the marketing rule indicate that advisers have encountered persistent difficulties in achieving compliance — but there are steps advisers can take to mitigate risks of violations, say Scott Moss and Jimmy Kang at Lowenstein Sandler.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • Banks As Crypto Custodians May Rest On SEC Bulletin's Fate

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    Banks' willingness to accept custody of cryptocurrency assets, like the exchange-traded funds approved by the U.S. Securities and Exchange Commission this spring, may hinge on whether a 2022 SEC accounting bulletin directing banks to track customers' digital assets on their balance sheets can survive Congress' attempts to strike it down, says Roger Chari at Duane Morris.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

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