Asset Management

  • January 29, 2025

    2 Blank Check Cos. Plan IPOs Totaling $325M

    Two special purpose acquisition companies, Cartesian Growth III and Gesher Acquisition Corp. II, have launched plans for initial public offerings, expecting to raise a combined $325 million.

  • January 29, 2025

    Southwest's Plan Oversight Cost Workers Millions, Court Told

    Southwest Airlines cost workers millions of dollars in retirement savings by failing to ax a costly and underperforming investment fund from its combined $14 billion retirement plans, according to a proposed class action filed in Texas federal court.

  • January 29, 2025

    Milbank Adds Ex-Skadden Financial Restructuring Pro In NY

    Milbank LLP has added a corporate restructuring attorney previously with Skadden Arps Slate Meagher & Flom LLP as a partner in its New York office, the firm has announced.

  • January 28, 2025

    Judge OKs Refiling Of Suit Over $20M Austin Nightclub Deal

    A Texas federal judge granted a bid to dismiss a suit claiming a title company handed over $3 million to a fraudster, saying Tuesday that she would allow the plaintiff to rework its complaint to show the defendants were indeed more heavily tied to the sham than the current complaint contended.

  • January 28, 2025

    Ex-SEC Enforcement Chief Says Staff Faced Uptick In Threats

    The U.S. Securities and Exchange Commission's recently departed enforcement chief said Tuesday he wishes he could have done more to insulate his staff from the uptick in threats they received while he headed the program, and he urged his successor to do what they could to protect the agency's attorneys.

  • January 28, 2025

    Cigna Can't Escape Fight Over Prosthetic Coverage In Maine

    Cigna must continue facing an Employee Retirement Income Security Act lawsuit by a man who was denied coverage of his prosthetic device, with a Maine federal judge saying she can't rule on the insurer's dismissal motion until she knows what entity funds the man's healthcare plan.

  • January 28, 2025

    Founder Can't Explain Hedge Fund's Filing Mismatch To Jury

    A hedge fund founder told a Denver jury Tuesday that he doesn't know why some of the fund's regulatory filings don't identify it as a director for a Colorado biopharmaceutical company, in a suit brought by stockholders who claim the fund must return $11 million earned from short-swing trades.

  • January 28, 2025

    Citron Research Founder Slams DOJ's Fraud Suit

    Citron Research's founder urged a California federal judge to throw out the federal government's securities fraud case alleging he published unfavorable reports about companies to manipulate stock prices, arguing Monday he never published false information about any public company, and prosecutors fail to allege he intended to defraud his audience.

  • January 28, 2025

    Drugs Made In America SPAC Nets $200M To Buy Pharma Biz

    Blank-check company Drugs Made In America Acquisition Corp. began trading Tuesday after completing a downsized $200 million initial public offering with the intention of acquiring a U.S.-based pharmaceutical business, represented by Loeb & Loeb LLP and underwriter's counsel Winston & Strawn LLP.

  • January 28, 2025

    SEC Wells Meetings Likely Back On The Table, Official Says

    The U.S. Securities and Exchange Commission's acting deputy director of enforcement said Tuesday that leadership was open to meeting more frequently with those facing SEC investigations and hinted at the possibility that it would pursue fewer industry bars against those who violate the securities laws. 

  • January 28, 2025

    Union Worker Entitled To Higher Pension Benefits, Judge Says

    A plumbing union pension plan violated federal benefits law when it refused to increase a worker's monthly payments because he opted to retire late, a Minnesota federal judge ruled, finding the plan's terms didn't prevent him from receiving a bump.

  • January 28, 2025

    Trader Joe's Accused Of Badly Stocked 401(k), High Fees

    Grocery chain Trader Joe's mismanaged its retirement plan for employees to the tune of tens of millions of dollars, according to a potential class action filed Tuesday in Massachusetts federal court.

  • January 28, 2025

    Cement Maker Carve-Out Titan America Plans For $396M IPO

    The U.S. business of worldwide cement producer Titan Cement Group on Tuesday announced the terms for its initial public offering, planning to raise $396 million.

  • January 28, 2025

    Paul Hastings, Cravath Lead Smithfield's Reduced $522M IPO

    Shares of pork producer Smithfield Foods Inc., which has spun off from China's WH Group, began trading Tuesday after the company priced a downsized $522 million initial public offering below its initial range, with Paul Hastings LLP advising Smithfield in the offering and Cravath Swaine & Moore LLP representing its underwriters.

  • January 28, 2025

    Chancery Bars More Disclosures In Sage-Biogen Fight

    A Delaware vice chancellor on Tuesday prohibited Biogen Inc. and its human therapeutics product subsidiary from making public statements regarding a potential buyout of Sage Therapeutics Inc. after Sage sued for enforcement of a standstill provision in an earlier Biogen deal for Sage stock.

  • January 28, 2025

    Holland & Knight Adds Financial Services Partner In New York

    Holland & Knight LLP has brought on a former Mayer Brown LLP partner who specializes in asset securitization and structured finance to its growing financial services team.

  • January 27, 2025

    Virtu, Insiders Sued In Del. Over Stock Buybacks

    Stockholders of Virtu Inc. have sued the global financial services venture's top brass in Delaware's Court of Chancery, alleging they diverted roughly $400 million from public stockholders through share repurchases that took advantage of the company's two-tiered corporate structure.

  • January 27, 2025

    Fund Tells Jury No Need To Return $11M Short-Swing Profits

    A hedge fund told a Denver federal jury Monday that the $11 million it earned from the short-swing sales of a biopharmaceutical company's stock doesn't need to be returned because the transactions fall under an exception to securities law on insider trading.

  • January 27, 2025

    Civil Liberties Org. Says FDIC's Court 'Eviscerates' Civil Rights

    The New Civil Liberties Alliance told the Fifth Circuit on Monday to spurn the Federal Deposit Insurance Corp.'s attempt to level a fraud judgment against a banker, saying the agency's in-house court sidesteps the constitutional right to a jury trial.

  • January 27, 2025

    Allstate Beats Plan Participants' $70M Poor-Performance Suit

    An Illinois federal judge handed Allstate a pretrial win Monday over retirement plan participants' claim that the insurer cost them nearly $70 million by holding on to poor-performing funds, saying the plaintiffs' "apples and oranges" comparisons will not sway a jury in their favor.

  • January 27, 2025

    HSBC Bankers Fall Short Of Pay Class Cert., Judge Suggests

    A New York federal magistrate judge recommended that proposed classes of HSBC Bank personal bankers be denied class certification for allegations that the company shortchanged them on pay in various ways, finding the evidence presented to establish commonality of the claims is full of hearsay.

  • January 27, 2025

    Perella Weinberg Had $47M Motive To Ax Partners, Judge Told

    Counsel for former partners of investment banking firm Perella Weinberg on Monday signaled to a New York state trial judge that the firm had a financial motive to fire them and pointed to emails calling one a "destructive influence."

  • January 27, 2025

    Archegos CFO Gets 8 Years For $100M Stock Fraud Ploy

    The former chief financial officer of defunct hedge fund Archegos on Monday was sentenced in New York federal court to eight years in prison for his role in a $100 billion scheme to manipulate the market and defraud banks.

  • January 27, 2025

    Obesity-Focused Metsera Leads Biotech Firms Eyeing IPOs

    Obesity-focused drug developer Metsera launched plans on Monday for an estimated $275 million initial public offering, joined by kidney-disease focused Maze Therapeutics, both of which plan to tap the markets this week under combined guidance of four law firms.

  • January 27, 2025

    Ga. Accountant Must Face Fintech Co.'s Share Price Suit

    A Georgia federal judge has declined to dismiss most of a British fintech company's suit against Atlanta-based accounting firm Frazier & Deeter LLC over an allegedly bungled stock valuation, ruling Monday that a hold harmless clause in the companies' contract was largely unenforceable.

Expert Analysis

  • 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.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

  • Class Actions At The Circuit Courts: August Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers certification cases touching on classwide evidence of injury from debt collection practices, defining coupon settlements under the Class Action Fairness Act, proper approaches for evaluating attorney fee awards in class action settlements, and more.

  • Crypto Regs Could See A Reset Under The Next President

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    Donald Trump has taken a permissive policy stance favoring crypto, while Kamala Harris has been silent on the issue, but no matter who wins the presidential election, we may see a more lenient regulatory climate toward the digital currency than from the Biden administration, says Liam Murphy at McKool Smith.

  • Planning Law Firm Content Calendars: What, When, Where

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    During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.

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