Asset Management Law360 provides breaking legal news and analysis on the asset management industry. Coverage includes litigation, policy developments, and corporate deals involving investment firms, mutual funds, hedge funds, bond funds, pension funds, and real estate investment trusts.
A Virginia bankruptcy judge ruled Friday a company owned by restructuring adviser Jay Alix can't continue to take part in the Alpha Natural Resources bankruptcy it fought to reopen to investigate alleged conflicts of interest by rival consultant McKinsey & Co.
A former Platinum Partners executive on Friday told a New York federal jury that the firm’s co-founder and others misled potential investors about the financial health of Platinum’s main fund while the hedge fund manager was struggling to pay back tens of millions of dollars to its limited partners.
A J.S. Oliver Capital Management LP principal agreed to pay about $670,000 in disgorgement Thursday to settle the U.S. Securities and Exchange Commission’s claims he "cherry-picked" client trades, avoiding substantial penalties that had been ordered in prior rulings.
A group of former Morgan Stanley financial advisers urged a California federal judge Thursday to reject a $10 million deal proposed last month to settle allegations that the investment bank routinely refused to reimburse them for work-related expenses, arguing the amount is too low and the release of claims is too broad.
A set of reinsurance and asset management companies that has been accused of operating as an alter ego of now-defunct Platinum Partners is fighting to escape racketeering claims from the hedge fund's insurers.