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Asset Management
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April 10, 2025
Mint Mobile Secretly Records Customer Calls, Suit Says
Mint Mobile "routinely and intentionally" records conversations on its customer service line without notifying callers, according to a proposed class action moved to California federal court Wednesday.
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April 10, 2025
No Plan To Trim Do Kwon Case After Crypto Memo, Feds Say
A U.S. Department of Justice memo outlining the Trump administration's cryptocurrency policy and enforcement priorities has not prompted prosecutors to alter their $40 billion criminal fraud case against Terraform founder Do Kwon, a government lawyer told a Manhattan federal judge Thursday.
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April 10, 2025
Cooley-Led Drone Operator Launches Plans For $75M IPO
Drone systems developer Airo Group Holdings Inc. launched plans Thursday for an estimated $75 million initial public offering amid choppy market conditions, represented by Cooley LLP and underwriters' counsel Latham & Watkins LLP.
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April 10, 2025
Simpson Thacher-Led KSL Lands $1.44B In 2nd Tactical Fund
Alternative investment firm KSL Capital Partners LLC, advised by Simpson Thacher & Bartlett LLP, on Thursday announced that it clinched its second tactical opportunities fund with $1.44 billion in capital commitments.
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April 10, 2025
Cantor Fitzgerald, Lutnick Beat BGC Stockholder Suit In Del.
A claim misclassification doomed a stockholder suit accusing Cantor Fitzgerald LP and former BGC Partners CEO Howard Lutnick — now U.S. commerce secretary — of lining up unfair terms when BGC went public in 2023 in a deal that diluted its minority shareholders, a Delaware vice chancellor ruled on Thursday.
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April 10, 2025
Blackstone Bolsters Warehouse Portfolio In $718M Texas Buy
Blackstone on Thursday announced it has agreed to buy a 6 million-square-foot portfolio of warehouse buildings in Dallas and Houston from Crow Holdings for $718 million in a bet on logistics during a time of market upheaval.
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April 09, 2025
Coinbase Judge Won't Rethink Greenlighting Investor Suit
A New Jersey federal judge declined to review his ruling to keep a Coinbase investors' class action alive, saying his order did not gloss over any legal or factual issue when finding the company and its executives must face the suit accusing them of concealing certain regulatory and bankruptcy risks from investors.
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April 09, 2025
Judge Rejects Objections To $400M GPB Capital Payout Plan
A New York federal judge has approved a plan to distribute up to $400 million to investors defrauded by GPB Capital Holdings, rejecting objections from company insiders who argued the settlement was unfair because they could still face liability, finding that those concerns didn't outweigh the need to compensate defrauded victims.
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April 09, 2025
Senate Confirms Trump Pick Atkins To Lead A Leaner SEC
The U.S. Senate on Wednesday confirmed Paul Atkins to be the next chair of the U.S. Securities and Exchange Commission, clearing the way for an agency veteran and regulatory critic who is expected to slow the SEC's enforcement agenda and pursue smaller corporate penalties at a time when the agency is grappling with staff cuts and market turmoil.
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April 09, 2025
Chancery Lets Paramount Investors Probe Skydance Deal
Delaware's top Chancery magistrate said Wednesday that Paramount Global stockholders probing the company's proposed $8 billion Skydance Media merger can have access to dozens of documents, but kept sealed further details in a transcript of a hearing closed to the public for at least five additional days.
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April 09, 2025
2nd Circ. Doubtful Of Push To Thaw Assets For Debt Relief Biz
A Second Circuit panel seemed unconvinced Wednesday by a debt relief network's argument that the rule federal and state enforcers invoked to shut it down didn't apply because the targeted business practices included in-person interactions, with two judges noting that the home visits followed phone conversations where the actual selling was likely made.
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April 09, 2025
Self-Driving Car Tech Co. Valued At $6B After Series E Round
Autonomous driving technology company Nuro Inc. on Wednesday revealed that it achieved a $6 billion valuation after completing its latest fundraising round with $106 million in tow.
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April 09, 2025
White & Case-Led EQT Inks Nearly $3B Health Deal With KKR
KKR & Co. has agreed to acquire Sweden's Karo Healthcare from EQT, marking the handover of a company that has quadrupled in sales over the past five years, the companies said Wednesday, in a deal worth up to a reported 2.6 billion euros ($2.85 billion).
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April 09, 2025
Ill. Real Estate Broker Gets 4 Years For $3M Investment Scam
A Chicago real estate broker has been sentenced to more than four years in prison after pleading guilty last year to allegations he duped clients into investing millions of dollars in properties that did not exist and then used the investors' funds for personal expenses, federal prosecutors announced Wednesday.
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April 09, 2025
Winston & Strawn Leads Fintech-Focused SPAC's $240M IPO
Special purpose acquisition company Titan Acquisition Corp. began trading Wednesday after pricing a $240 million initial public offering in pursuit of a merger with a fintech or related business, represented by Winston & Strawn LLP and underwriters' counsel Ellenoff Grossman & Schole LLP.
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April 09, 2025
Fraudster Says Sentencing Judge Overlooked Harsh Detention
A California man convicted in a $2 million investment fraud scheme asked the Fourth Circuit Wednesday to overturn his 70-month prison sentence, arguing that a North Carolina federal judge wrongly denied his request for a shorter term based on time he spent in harsh overseas detention.
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April 09, 2025
Connell Foley Survives Investment Firm's DQ Bid In Bias Suit
A federal judge in New Jersey has rejected a Black-owned investment company's request to disqualify a Connell Foley LLP attorney from representing the state in the investment firm's bias case, reasoning that there is nothing showing the law firm or the lawyer previously represented the company.
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April 09, 2025
Ancora Drops US Steel Pursuit After Trump Flags Nippon Deal
Ancora Holdings Group said Wednesday it is withdrawing its slate of director candidates for U.S. Steel's upcoming annual meeting, citing "apparent momentum" for the $14.9 billion acquisition by Japan's Nippon Steel after President Donald Trump announced a fresh national security review of the deal Monday.
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April 08, 2025
Crypto Investor Sues In Del. Alleging $16M Pump, Dump Loss
Cayman Islands-registered cryptocurrency venture Hash Asset Management Ltd. sued two other crypto entities and four individuals in Delaware's Court of Chancery on Tuesday, alleging a "pump and dump" scheme that saw more than $16 million allegedly siphoned away in violation of token deposit and lending agreements.
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April 08, 2025
SEC's Uyeda Urges Review Of Federal-State Oversight Splits
The acting chairman of the U.S. Securities and Exchange Commission on Tuesday called for a reevaluation of the threshold that divides federal and state oversight of investment advisers, saying he wants to better conserve SEC and taxpayer resources by focusing on the largest advisers.
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April 08, 2025
Fla. Judge Orders Depos In Ex-Rep's Venezuela Lobbying Suit
A Florida state court judge Tuesday ordered parties to depose each other in a lawsuit brought by a former U.S. representative accused of unlawfully lobbying on behalf of Venezuela, denying a request to quash a deposition of a prior business associate who's believed to be helping the federal government.
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April 08, 2025
German Pharma Giant Stada Pauses IPO As Volatility Endures
Private equity-backed German pharmaceutical company Stada is halting its initial public offering amid market volatility, joining several U.S. companies that are pausing plans while they assess the fallout from President Donald Trump's tariff policy.
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April 08, 2025
Compliance Chief Wants Out Of SEC Fraud Suit
The chief compliance officer and general counsel of a wealth management firm has urged an Illinois federal judge to dismiss him from a U.S. Securities and Exchange Commission suit over an alleged offering fraud by former representatives at his firm, saying "the commission does not even understand what its own pleading burden in this case is."
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April 08, 2025
Fla. Cloud Co. Accuses Ex-Board Member Of SPAC Fraud
A Florida cloud storage business has accused a former board member of securities fraud in federal court, alleging that a side agreement splitting a finder's fee with an unregistered broker he introduced for a merger deal wasn't disclosed, and now the company faces shutdown if an asset sale isn't halted.
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April 08, 2025
Bernstein Litowitz, Kessler Topaz Seek To Lead GSK Investors
Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check LLP are seeking lead counsel roles in a proposed securities class action against GSK PLC in Pennsylvania federal court, citing a long history of collaboration and billions recovered for shareholders.
Expert Analysis
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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How Tariffs May Affect Proxy Contests This Season
While global tariffs imposed by the Trump administration will certainly chill at least some activity this proxy season, and make defending contests significantly easier, there will likely be many new activist investments once there is more economic certainty, meaning more proxy fights this fall, say attorneys at Sidley.
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A Closer Look At New NYSE, Nasdaq Listing Rule Changes
The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.
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Opinion
GENIUS Act Can Bring Harmony To Crypto-Banking Discord
By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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SEC Confidential Review Process Provides Issuers Flexibility
The U.S. Securities and Exchange Commission's recently announced enhancements to the process for confidentially submitting draft registration statements will be immediately impactful for issuers seeking to access the public capital markets, and should provide more grounds to explore and plan public offerings, say attorneys at Lowenstein Sandler.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.
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How The ESG Investing Rule Survived Loper Bright, For Now
A Texas federal court's recent decision in Utah v. Micone upholding the U.S. Department of Labor's 2022 ESG investing rule highlights how regulations can withstand the post-Loper Bright landscape when an agency's interpretation of its statutorily determined boundaries is not granted deference, say attorneys at Miller & Chevalier.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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How The CRE Industry Is Adapting To Tariff Uncertainty
Amid uncertainty about pending tariffs and their potential ripple effects, including higher material costs, supply chain delays and tighter margins, commercial real estate industry players are focusing on strategic planning and risk mitigation, says Daniel Diaz Leyva at Day Pitney.