Asset Management

  • December 05, 2024

    IQVIA Gets Final OK For $3.5M Deal In Ex-Workers' 401(k) Suit

    A North Carolina federal judge on Thursday gave his final seal of approval to a $3.5 million settlement for a class of 9,000 employees who accused healthcare technology company IQVIA of mismanaging its $1.13 billion 401(k) plan.

  • December 05, 2024

    Battery Recycling Firm To Go Public Via $250M SPAC Merger

    Renewable energy-focused Ace Green Recycling Inc. has agreed to go public by merging with special purpose acquisition company Athena Technology Acquisition Corp. II in a deal that values Ace Green's equity at $250 million, both parties have announced.

  • December 04, 2024

    Target Can't Escape Investors' Pride Month Merch Suit

    Target Corp. cannot escape claims alleging customer backlash over its 2023 LGBTQ-focused marketing campaign caused the retail giant's sales and stock price to decline, a Florida federal judge ruled Wednesday, finding that the investors have plausibly pled Target made misleading warnings about the risk of customer boycotts.

  • December 04, 2024

    'Side Deal' Unlikely To Ax Fees In $10M Morgan Stanley Deal

    A California federal judge said Wednesday he isn't inclined to strip counsel who negotiated Morgan Stanley's $10 million deal with its financial advisers of their fees over an abandoned "side deal" between the company and the lead plaintiff, saying it should have been disclosed but didn't impact the deal's fairness.

  • December 04, 2024

    Fla. Ex-Rep Sues Associate Connected To Foreign Agent Case

    A former Florida congressman has sued an associate in Miami-Dade County over a breach of contract, alleging that he disclosed a confidential legal memorandum to law enforcement officials and others in connection to a federal indictment charging the ex-lawmaker with unlawfully lobbying on behalf of Venezuela.

  • December 04, 2024

    Debt Relief Co. Agrees To Be Banned Under CFPB Settlement

    The Consumer Financial Protection Bureau informed a California federal court that a purported debt relief services company and its owner have agreed to cease operations and pay civil penalties for allegedly charging customers illegal upfront fees.

  • December 04, 2024

    CFTC Hits $17.1B Enforcement Record With FTX-Linked Deals

    The Commodity Futures Trading Commission secured a record annual enforcement haul of more than $17.1 billion in fiscal year 2024, including a historic $12.7 billion judgment against failed crypto exchange FTX and its affiliated trading firm Alameda Research, the agency announced Wednesday.

  • December 04, 2024

    5th Circ. Probes $8M Payout For Allegedly Undelivered Services

    An investment company on Wednesday found itself before the Fifth Circuit having to justify paying $7.7 million for allegedly undelivered services from an affiliate, as it appeals a $2.6 million bill it got hit with for prematurely ending a contract.

  • December 04, 2024

    Uber Investors' Attys Awarded $58M In $200M IPO Suit Deal

    A California federal judge granted final approval Wednesday to Uber's $200 million deal settling class claims from investors accusing it of making false and misleading statements ahead of its initial public offering, and also awarded $58 million for attorney fees that he called quite "substantial" but "warranted."

  • December 04, 2024

    Wells Fargo Wants Suits Over $300M Scheme Tossed

    Wells Fargo Bank NA urged a Florida federal judge on Wednesday to toss both a proposed class action and a receiver's lawsuit claiming the bank aided and abetted a $300 million Ponzi scheme that duped more than 1,000 investors, arguing that neither pleading sufficiently shows that Wells Fargo knew about the fraud.

  • December 04, 2024

    'Patriotic' Marketplace PublicSquare Raises $36M Stock Sale

    The money-losing owner of self-described patriotic marketplace PublicSquare bolstered its balance sheet Wednesday through a $36 million registered direct offering guided by two law firms, one day after it named Donald Trump Jr. to its board of directors.

  • December 04, 2024

    Crypto Groups Hail Trump's SEC Pick Paul Atkins

    President-elect Donald Trump on Wednesday said he will nominate former U.S. Securities and Exchange Commission member Paul Atkins to lead the agency next year, a decision that cryptocurrency advocates praised as opening a path for greater acceptance of an industry that has faced a slew of lawsuits under the current SEC.

  • December 04, 2024

    Calif. Trading Instructor Gets Prison For $2M Investment Fraud

    A North Carolina federal judge sentenced a California man extradited from Australia to face charges over a $2 million investment fraud scheme he orchestrated to 70 months in prison and ordered him to pay $1.9 million in restitution, federal prosecutors in the Tar Heel State announced.

  • December 04, 2024

    Paul Weiss-Led PE Firm's SPAC Bids £836M For E-Training Biz

    Investor General Atlantic said Wednesday that a company it manages has agreed to buy Learning Technologies Group PLC, a workplace training provider, for a total of £836 million ($1.1 billion) as the U.S. business looks to expand in the growing sector.

  • December 03, 2024

    Top Ex-SEC Officials Warn Of Enforcement Upheaval

    Former top U.S. Securities and Exchange Commission officials on Tuesday predicted a sea change in the agency's enforcement approach in the coming second administration of President-elect Donald Trump, with a lighter touch for corporate wrongdoers and a whole new ballgame with respect to cryptocurrency.

  • December 03, 2024

    Crypto Co. Hut 8 Wants Out Of Merger Disclosure Investor Suit

    Crypto mining company Hut 8 moved to dismiss a proposed shareholder class action that is based on the claims of a short-seller's report that Hut 8 overpaid for a company with severe operational issues, saying the suit does not show the alleged misrepresentations were false or misleading when made or that investors were actually harmed.

  • December 03, 2024

    4 Mass. State Court Rulings You May Have Missed In Nov.

    An age discrimination case was undone by the fine print of an employment agreement, while an "utterly inadequate" document search led to a five-figure sanctions order, among other notable recent decisions in Massachusetts state court.

  • December 03, 2024

    Fla.'s 'Mother Teresa' Gets 20 Years For Ponzi Scheme

    A Florida federal judge on Tuesday accused the U.S. attorney's office of "abdicating its responsibility" by agreeing to a maximum of 20 years in prison for Johanna Garcia, the former MJ Capital CEO known as "Mother Teresa" who pled guilty to running a $190 million Ponzi scheme.

  • December 03, 2024

    Feds Urge Justices To Revive Cornell Workers' ERISA Fight

    The federal government urged the U.S. Supreme Court to reverse dismissal of a proposed class action alleging Cornell University mismanaged employees' retirement plans, backing Cornell workers' argument that the Second Circuit misapplied the standard for pleading a prohibited transaction claim when it upheld an end to the case.

  • December 03, 2024

    Skadden, Clifford Chance Guide BlackRock On $12B HPS Buy

    BlackRock said Tuesday it has agreed to buy HPS Investment Partners for approximately $12 billion, in a deal that will align HPS' nearly $150 billion global credit portfolio with BlackRock's $3 trillion public fixed income business.

  • December 03, 2024

    UK Watchdog Probes BlackRock Deal For Data Co. Preqin

    The U.K.'s competition regulator said on Tuesday it is delving into whether private equity giant BlackRock Inc.'s proposed £2.55 billion ($3.2 billion) acquisition of private markets data provider Preqin would harm competition in U.K. markets.

  • December 02, 2024

    FDIC Must Face Some Of SVB Ex-Parent's Claims In $1.9B Suit

    A California federal judge has pared down a lawsuit looking to force financial regulators that stepped in after the high-profile collapse of Silicon Valley Bank to return some $1.9 billion in frozen deposits to the bank's former operator as part of a multipronged effort to recover the funds.

  • December 02, 2024

    Trial Date Set In 3-Way Fight Over Historic Ohtani Baseball

    A trial is now scheduled for one of two Florida state lawsuits to decide which of three baseball fans legally owns a home run ball hit by superstar Shohei Ohtani that was later auctioned off for $4.39 million.

  • December 02, 2024

    Citi Splits Off Mexican Retail Bank Ahead Of Planned IPO

    Citigroup said Monday it has completed the expected spinoff of its Mexican retail banking unit called Banamex — part of a strategy to separate its retail and institutional banking businesses in Mexico — paving the way for an initial public offering of Banamex.

  • December 02, 2024

    Funds Get $30M Payout From SEC's Fight With Fugitive Trader

    A Connecticut federal judge has approved a receiver's plan to distribute $30 million to four Oak Management Corp. funds that were among the victims of a former in-house trader who spent a decade defrauding investors and misappropriating $67 million, court records show.

Expert Analysis

  • The Ups And Downs Of SEC's Now-Dissolved ESG Task Force

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    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

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    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

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    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

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    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.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

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    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • Peeling Back The Layers Of SEC's Equity Trading Reforms

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    The U.S. Securities and Exchange Commission's recently adopted amendments lowering the tick sizes for stock trading and reducing access fee caps will benefit investors and necessitate broad systems changes — if they can first survive judicial challenges, say attorneys at Sidley.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Series

    Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • How Project 2025 Could Upend Federal ESG Policies

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    If implemented, Project 2025, the Heritage Foundation's policy playbook for a Republican presidential administration, would likely seek to deploy antitrust law to target ESG initiatives, limit pension fund managers' focus to pecuniary factors and spell doom for the U.S. Securities and Exchange Commission's climate rule, say attorneys at Mintz.

  • Opinion

    FDIC's Foray Into Index Fund Rules Risks Regulatory Chaos

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    A proposed Federal Deposit Insurance Corp. rule concerning control over passive index fund investments in banks is outside the agency's remit, clashes with an existing Federal Reserve process and would inhibit competition in the index fund sector, says J.W. Verret at George Mason University.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

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    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

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    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • What To Make Of Dueling Corporate Transparency Act Rulings

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    Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

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    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • To Report Or Not To Report Others' Export Control Violations

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    A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.

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