Try our Advanced Search for more refined results
Asset Management
-
July 29, 2024
Magistrate Eyes Cuts To Norfolk Southern Investors' Suit
A New York federal magistrate judge has recommended tossing a portion of a securities suit filed against Norfolk Southern Corp. in the wake of the East Palestine, Ohio, train derailment, reasoning that the retirement funds serving as lead plaintiffs fell short of pleading standards.
-
July 29, 2024
Ackman's IPO For New Pershing Square Fund Faces Delay
Hedge-fund giant Bill Ackman is still proceeding with an estimated $2.5 billion to $4 billion initial public offering of his new closed-end investment fund, Pershing Square USA Ltd., though the date of pricing is undetermined, according to the new fund.
-
July 29, 2024
SEC OKs Award Of More Than $37M To Whistleblower
The U.S. Securities and Exchange Commission has awarded more than $37 million to an anonymous whistleblower the agency credits for spurring a successful enforcement action despite retaliation from an unidentified employer.
-
July 29, 2024
Commonwealth Financial Attacks SEC's 'Staggering' $93M Win
Commonwealth Financial Network has asked the First Circuit to overturn what it called a "staggering" $93 million penalty it was ordered to pay to the U.S. Securities and Exchange Commission, arguing that its alleged failure to disclose conflicts of interest to investor clients was harmless.
-
July 29, 2024
Kirkland-Led Amulet Closes $1.2B Health-Focused Fund
Kirkland & Ellis LLP-advised private equity shop Amulet Capital Partners LP on Monday announced that it successfully closed its third healthcare-focused private equity fund with roughly $1.2 billion in tow.
-
July 29, 2024
Davis Polk Adds Ex-Simpson Thacher Funds Partner In DC
Davis Polk & Wardwell LLP announced Monday that a former Simpson Thacher & Bartlett LLP funds attorney joined the firm's investment management practice as a partner in Washington, D.C.
-
July 29, 2024
Mich. AG Drops Remaining Case Against Carhartt Heiress Atty
Prosecutors will not retry a Michigan attorney they claim stole from his wealthy client, the late Carhartt company heiress Gretchen Valade, and have agreed to toss similar embezzlement charges in a separate case.
-
July 29, 2024
Catching Up With Delaware's Chancery Court
Litigation linked to Elon Musk sparked several filings in Delaware's Court of Chancery last week, including a call for sanctions and hand-wringing about a proposed multibillion-dollar attorney fee. Here, Law360 looks at this and other highlights from last week in Delaware's Chancery Court.
-
July 29, 2024
White Collar Update: 4 Developments To Watch
White-collar lawyers are on the lookout for U.S. Department of Justice actions targeting artificial intelligence "snake oil," aggressive pandemic-relief fraud prosecutions, and carrots for corporations and whistleblowers who expose misconduct. Here's a look at some key developments to watch in the second half of 2024.
-
July 29, 2024
ECJ Nixes Swedish Dividends Tax On Foreign Pension Funds
Sweden can't collect a withholding tax on dividends distributed by Swedish companies to public pension funds abroad while exempting its own public funds because that is inconsistent with European Union law requiring the free movement of capital, the European Court of Justice said Monday.
-
July 29, 2024
Remainder Of DOL Fiduciary Regs Blocked In Texas
A Texas federal judge froze the remainder of a package of regulations from the U.S. Department of Labor expanding the definition of a fiduciary under the Employee Retirement Income Security Act, after a judge blocked most of the policy in an adjacent district the day before.
-
July 29, 2024
EU's Highest Court Upholds Disclosure Law
The European Union's highest court on Monday upheld the bloc's law requiring tax advisers to report potentially aggressive cross-border tax arrangements, rejecting a challenge from Belgian tax attorneys who said their country's implementation of the EU's DAC6 law violated European law.
-
July 26, 2024
Ex-Wells Fargo Director Wins $22M Verdict In ADA Trial
A North Carolina federal jury Friday determined Wells Fargo must pay a former managing director $22.1 million after he accused the bank of failing to reasonably accommodate him for a paralyzed colon and bladder, and subsequently laid him off to avoid dealing with his disability, according to his attorney.
-
July 26, 2024
SEC Sues Banker And Ex-Prosecutor Alleging $1.6M Fraud
A Georgia banker fraudulently bilked approximately $1.6 million from unsuspecting investors for "furs and furniture" and other expenses while a former Florida prosecutor ignored several red flags when holding on to the investments, the U.S. Securities and Exchange Commission told a Georgia federal court.
-
July 26, 2024
Franklin Says DOJ, SEC Probing Western Asset Management
Western Asset Management, a global fixed-income manager, is facing parallel investigations from the U.S. Department of Justice and the U.S. Securities and Exchange Commission over some of its past trade allocations, its parent Franklin Resources Inc. said Friday.
-
July 26, 2024
Matterport Stockholder Sues In Del. For Books On Merger
A shareholder of 3D-imaging and digitization venture Matterport Inc. has launched a Delaware Court of Chancery lawsuit seeking company documents, citing concerns that the business was selling itself to global real estate analytics company CoStar Group in part to protect insider equity from pending litigation.
-
July 26, 2024
Kinder Morgan Shorted Early Retirement Benefits, Judge Says
A pension plan inherited by Kinder Morgan Inc. when it acquired El Paso Corp. was wrongly amended to prevent workers from accumulating early retirement benefits, a Texas federal judge ruled, siding with a class of retirees who claimed the changes violated federal benefits law.
-
July 26, 2024
Chancery Questions $3.5M Atty Fee For Failed Proxy Battle
An activist shareholder that launched a failed proxy contest at First Foundation Inc. struggled to convince a Delaware Chancery Court judge Friday that the settlement it reached with the Texas-based bank was worth a $3.5 million attorney fee.
-
July 26, 2024
Activist Short Seller Accused Of $16M Securities Fraud
Federal prosecutors in California announced the indictment Friday of the founder of popular trading advice website Citron Research, accusing Andrew Left of exploiting his platform to manipulate stock prices and earn $16 million through securities fraud.
-
July 26, 2024
Winston Structured Finance Co-Chair Joins Reed Smith
Reed Smith has added the co-chair of Winston & Strawn's structured finance practice as a New York-based partner in its financial industry group.
-
July 26, 2024
3 Firms Build Casey's $1.1B Buy Of Fikes Wholesale
Convenience store chain Casey's General Stores Inc. on Friday announced plans to buy CEFCO Convenience Stores owner Fikes Wholesale Inc. in a $1.145 billion cash deal that was built by three law firms.
-
July 26, 2024
Alston & Bird Grows With Structured Finance Pro In New York
Alston & Bird LLP has expanded its finance team in New York, adding a partner with more than 20 years of experience advising on structured finance transactions and mergers and acquisitions.
-
July 26, 2024
Taxation With Representation: Wachtell, Polsinelli, Kirkland
In this week's Taxation With Representation, T-Mobile partners with KKR to acquire Metronet, Exclusive Networks gets a takeover offer, KKR buys Instructure Holdings Inc., and Bally's Corp. merges with The Queen Casino & Entertainment Inc.
-
July 26, 2024
Apollo Buys And Merges IGT Gaming, Everi In $6.3B Deal
Funds managed by private equity giant Apollo will simultaneously buy International Game Technology PLC's Gaming and Digital business and gambling machines company Everi Holdings Inc. in an all-cash deal, crafted by five law firms, that values the two companies at $6.3 billion, according to a Friday statement.
-
July 26, 2024
Texas Federal Judge Blocks DOL Investment Advice Rule
A Texas federal judge granted a bid from insurance industry groups to freeze U.S. Department of Labor regulations that expand who qualifies as a fiduciary under federal benefits law, saying the agency's new rule "suffers from many of the same problems" as a previous DOL rule the Fifth Circuit invalidated in 2018.
Expert Analysis
-
Series
Walking With My Dog Makes Me A Better Lawyer
Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.
-
Navigating SPAC Market Challenges For Microcap Issuers
For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.
-
Think Like A Lawyer: Follow The Iron Rule Of Trial Logic
Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.
-
Circuit Split Brews Over Who's A Securities Seller Under Act
A Securities Act section that creates private liability for the sale of an unregistered security is rapidly becoming a favored statute for plaintiffs to wield against participants in both the digital asset and traditional securities markets, but the circuit courts have diverged on who may be held liable for these violations, say Jeffrey L. Steinfeld and Daniel Aronsohn at Winston & Strawn.
-
Banks Have Won Syndicated Loan Battle, But Not The War
Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.
-
The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
-
Compliance Strategies To Mitigate 3 New Areas Of AI Risk
The era of artificial intelligence-assisted corporate crime is here, but several concrete mitigation strategies can allow companies to address the new, rapidly evolving threats posed by deepfakes, information barrier evasion and AI model manipulation, say attorneys at Debevoise.
-
The Drawbacks Of Banking Regulators' Merger Review Plans
Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.
-
SEC Off-Channel Comms Action Hints At Future Enforcement
Although the U.S. Securities and Exchange Commission’s recent enforcement action against Senvest does not shed light on how the agency will calibrate penalties related to off-channel communications violations, it does suggest that we may see more cases against standalone investment advisers, say attorneys at Sidley.
-
Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
-
4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
-
What 3rd Circ. Trust Ruling Means For Securitization Market
Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.
-
9th Circ. Ruling Puts Teeth Into Mental Health Parity Claims
In its recent finding that UnitedHealth applied an excessively strict review process for substance use disorder treatment claims, the Ninth Circuit provided guidance on how to plead a Mental Health Parity and Addiction Equity Act violation and took a step toward achieving mental health parity in healthcare, says Mark DeBofsky at DeBofsky Law.
-
Breaking Down DOJ's Individual Self-Disclosure Pilot Program
The U.S. Department of Justice’s recently announced pilot program aims to incentivize individuals to voluntarily self-disclose corporate misconduct they were personally involved in, complementing a new whistleblower pilot program for individuals not involved in misconduct as well as the government's broader corporate enforcement approach, say attorneys at Paul Weiss.
-
Address Complainants Before They Become Whistleblowers
A New York federal court's dismissal of a whistleblower retaliation claim against HSBC Securities last month indicates that ignored complaints to management combined with financial incentives from regulators create the perfect conditions for a concerned and disgruntled employee to make the jump to federal whistleblower, say attorneys at Cooley.