Try our Advanced Search for more refined results
Asset Management
-
February 11, 2025
Ill. Atty Beats Wire Fraud Retrial After Privilege Violation
An Illinois jury has acquitted a former Freeborn & Peters partner of charges that he helped a client shift assets to avoid creditors ahead of its anticipated bankruptcy filing, after a privilege violation prompted the trial judge to exclude certain evidence from the case.
-
February 11, 2025
Bain Scraps Fuji Soft Tender Offer In Bid War With KKR
Bain Capital said Tuesday that it may withdraw its plans to buy a majority stake in Fuji Soft after rival bidder KKR raised its own offer to take control of the Japanese information technology firm.
-
February 11, 2025
Goldman Sachs Scraps Diversity Mandate For IPO Candidates
The Goldman Sachs Group Inc. said Tuesday that it's ending a pledge to only take companies public that contain at least two diverse board members, marking the latest of many retreats by corporations amid mounting legal and political opposition to diversity initiatives.
-
February 11, 2025
Activist Elliott Targets Phillips 66 Again Over Lack Of Progress
Activist investor Elliott Investment Management LP on Tuesday sent a letter to the board of directors of energy conglomerate Phillips 66 calling for "urgent changes" to improve operating performance and regain shareholder trust, saying "another year of empty rhetoric and broken promises is unacceptable."
-
February 11, 2025
TD Bank To Sell Schwab Stake In Roughly $13.1B Offering
TD Bank Group on Tuesday announced the terms of the sale of its entire equity investment in the financial services giant Charles Schwab Corp., detailing its plan to sell its 10.1% ownership stake in a $13.1 billion deal.
-
February 11, 2025
Republican-Led SEC Pauses Climate Regulation Litigation
The U.S. Securities and Exchange Commission signaled Tuesday that it may not move forward with a Biden-era regulation requiring public companies to disclose their greenhouse gas emissions, asking the court overseeing litigation against the climate reporting rules not to schedule the case for oral argument.
-
February 10, 2025
FTX Having Trouble Serving Binance With Ch. 11 Lawsuit
The estate of fallen cryptocurrency exchange FTX told a Delaware bankruptcy judge late Friday that its attorneys haven't yet been able to serve Binance and its former CEO Changpeng Zhao a lawsuit seeking to recover nearly $1.8 billion that FTX is accused of illegally transferring prior to its collapse two years ago.
-
February 10, 2025
Merrill Lynch Objects To New Discovery Bid In Stock Loan Suit
Merrill Lynch told a New York federal court it should deny investors' request for supplemental transaction data in their suit alleging major banks colluded to avoid modernizing the stock loan market, arguing that the discovery period has closed, and there are no legitimate reasons to grant the "burdensome" request.
-
February 10, 2025
Baker Hughes Obtains Toss Of Ex-Worker's 401(k) Fee Suit
A Texas federal judge tossed an excessive recordkeeping fees suit Monday from a proposed class of Baker Hughes 401(k) plan participants, finding evidence wasn't presented to show that the plan administrator owed a fiduciary duty in regard to so-called float money.
-
February 10, 2025
Grayscale Beats Bitcoin Rival's $2M Unfair Practices Suit
A Connecticut state court judge has handed digital asset management firm Grayscale Investments LLC a summary judgment win on a smaller rival's $2 million unfair trade practices suit over a bitcoin feud, finding that the relevant state law does not apply to the dispute.
-
February 10, 2025
UnitedHealth Says Fed Suit Imperils Deal's Many Benefits
UnitedHealth Group and home health and hospice giant Amedisys Inc. responded to the U.S. Department of Justice's merger challenge Friday by telling a Maryland federal judge that the government is taking quotes out of context, focusing on "artificially narrow geographic markets" and misjudging market realities.
-
February 10, 2025
SEC Grants Short-Selling Disclosure Reprieve, CAT Relief
The U.S. Securities and Exchange Commission is providing a temporary exemption in order to allow investment managers more time to comply with new rules requiring increased disclosure on short selling, and separately said it will no longer require certain personally identifiable information to be reported to the market database known as the Consolidated Audit Trail.
-
February 10, 2025
Emerson Butts Heads With Elliott On $7.2B AspenTech Deal
Global technology company Emerson said Monday that its $7.2 billion offer to buy the remaining shares in AspenTech that it does not already own represents "compelling and certain value" for shareholders, pushing back after activist investment firm Elliott ripped the bid as an undervaluation.
-
February 07, 2025
Rocket Mortgagors Say New Judge Tilted 4th Circ. Decision
Borrowers who accused Rocket Mortgage of inflating their home values have asked the full Fourth Circuit to reconsider a panel ruling that reversed their class certification, arguing that the panel only reversed course from its previous ruling because a federal judge, sitting by designation, joined the panel the second time around.
-
February 07, 2025
SPAC Market Hums Again Following Multiyear Downturn
Special purpose acquisition companies are once again asserting their presence in the capital markets and M&A landscape, forming new vehicles at the highest pace in three years — albeit in leaner form than in the last cycle, when many deals ended in busts.
-
February 07, 2025
Ex-Broker Seeks Court Win In Bid To Dismantle FINRA
A former stockbroker who is fighting a lifetime industry ban has urged a North Carolina federal judge to grant him a win in his suit attempting to unravel the power of the Financial Industry Regulatory Authority, saying the organization is unconstitutionally structured because it deprives him of his right to a jury trial and due process, among other things.
-
February 07, 2025
Texas Judge Ends Fund's SEC Suit Over 'Fishing Expedition'
A North Texas judge has tossed a South Carolina private equity fund's lawsuit accusing the U.S. Securities and Exchange Commission of an unconstitutional "fishing expedition" investigation, hours after the fund accused the commission of trying to gut it through a Florida lawsuit.
-
February 07, 2025
Chicago Hospital Network Inks $850K Retirement Suit Deal
A Chicago-area hospital system will pay $850,000 to settle an ex-worker's proposed class action alleging it violated federal benefits law by failing to leverage the size of its $1.8 billion employee retirement plan to lower recordkeeping fees, according to filings Friday in Illinois federal court.
-
February 07, 2025
Activist Elliott Takes Aim At $7.2B AspenTech-Emerson Deal
Activist investment firm Elliott Investment Management said Friday it has amassed a more than $1.5 billion stake in Aspen Technology, stating that AspenTech's plan to sell off its remaining shares for $7.2 billion to global technology company Emerson undervalues the business.
-
February 07, 2025
Taxation With Representation: Kirkland, Latham, Skadden
In this week's Taxation With Representation, Triumph Group goes private via Berkshire Partners and Warburg Pincus affiliates, alternative asset manager TPG buys Altus Power, Globus Medical buys Nevro Corp., and Honeywell separates its automation and aerospace technology businesses, resulting in the formation of three distinct companies.
-
February 07, 2025
4 Firms Steer Cement Maker Titan America's $384M IPO
Shares for the U.S. business of worldwide cement producer Titan Cement International SA debuted Friday after the company priced a $384 million initial public offering within its range, guided by four law firms spanning international borders.
-
February 06, 2025
Block's Dorsey, Others Face Derivative Suit Over AML Woes
Officers and directors of Square and Cash App parent company Block Inc. face a shareholder derivative complaint over alleged anti-money laundering compliance failures weeks after the company reached an $80 million settlement of related claims with state banking regulators.
-
February 06, 2025
Goodwin, Ropes Lead Cystic Fibrosis Co.'s Upsized $191M IPO
Cystic fibrosis-focused drug developer Sionna Therapeutics Inc. on Thursday priced an upsized $191 million initial public offering at the top of its range, represented by Goodwin Procter LLP and underwriters counsel Ropes & Gray LLP.
-
February 06, 2025
House GOP Floats Stablecoin Bill Amid Debanking Buzz
House Financial Services lawmakers unveiled a discussion draft of a bill to regulate stablecoins Thursday evening, joining a separate effort introduced in the U.S. Senate earlier this week.
-
February 06, 2025
6th Circ. Uncertain If Health Plan Administrator Is A Fiduciary
A yacht-maker urged the Sixth Circuit on Thursday to revive its lawsuit accusing Blue Cross Blue Shield of Michigan of overpaying employee health plan claims so it could profit off of savings recovered later, but faced tough questions about whether plan administrator BCBSM was a fiduciary under federal benefits law.
Expert Analysis
-
Series
Being An Artist Makes Me A Better Lawyer
My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.
-
Election Outcome Could Reshape Financial Industry
The policies of the next presidential administration and Congress will shape the landscape of financial services in the U.S. — including banking, mortgage, investment and credit services — for years to come, affecting Wall Street investors and aspiring homeowners alike, say Alexander Hecht and Frank Guinta at Mintz.
-
How Judiciary Can Minimize AI Risks In Secondary Sources
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.
-
Nvidia Case's Potential Impact On Securities Class Actions
In Nvidia v. Ohman Fonder, the U.S. Supreme Court could strip lower courts of their long-standing ability and obligation to holistically weigh all relevant facts supporting plaintiffs' allegations of securities fraud, which would have a wide-ranging impact on securities fraud class actions in the U.S., say attorneys at Labaton Keller.
-
How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
-
Short-Seller Implications Of 10th Circ.'s Overstock Decision
The Tenth Circuit's Oct. 15 decision in Overstock Securities Litigation provides clarity on the pleading standard for a market manipulation claim under the Exchange Act, and suggests that short sellers might not be able to rely on the fraud-on-the-market presumption typically invoked by securities plaintiffs, say attorneys at Paul Weiss.
-
Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
-
Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
-
The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
-
Don't Phone A Friend: Disclosing Friendships With Executives
The U.S. Securities and Exchange Commission's recent settlement against a former Church & Dwight chairman for violating proxy disclosure rules by neglecting to disclose his friendship with an executive officer amid a CEO search illustrates the perils of relying solely on responses to questionnaires circulated to boards, say attorneys at BCLP.
-
Why Diversity Jurisdiction Poses Investment Fund Hurdles
Federal courts' continued application of the exacting rules of diversity jurisdiction presents particular challenges for investment funds, and in the absence of any near-term reform, those who manage such funds should take action to avoid diversity jurisdiction pitfalls, say attorneys at Sher Tremonte.
-
The Ups And Downs Of SEC's Now-Dissolved ESG Task Force
The U.S. Securities and Exchange Commission's Climate and ESG Enforcement Task Force, which was quietly disbanded sometime over the summer, was marked by three years of resistance from some stakeholders to ESG regulation, a mixed record in the courts and several successful enforcement actions, say attorneys at Crowell & Moring.
-
Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
-
Anticipating Jarkesy's Effect On Bank Agency Enforcement
Following the U.S. Supreme Court’s decision in U.S. Securities and Exchange Commission v. Jarkesy, federal courts may eventually issue decisions on banking law principles and processes that could fundamentally alter the agencies' enforcement action framework, and the relationship between banks and examiners, says Brendan Clegg at Luse Gorman.
-
CFTC Anti-Fraud Blitz Is A Warning To Carbon Credit Sellers
With its recent enforcement actions against a carbon offset project developer and its senior executives for reporting false information about the energy savings of the company's projects, the Commodity Futures Trading Commission is staking out its position as a primary regulator in the voluntary carbon credit market, say attorneys at Morgan Lewis.