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.
Counsel for a defunct hedge fund called on a New Jersey state court Friday to cut a roughly $5.4 million compensatory verdict won by Fairfax Financial Holdings Ltd. and its subsidiary by the amount of blame attributed to settling defendants in an alleged scheme to lower the Canadian insurance company’s share price.
A New York federal judge said Thursday that a brokerage had failed to undermine the analyses of two experts the U.S. Securities and Exchange Commission intends to use in its suit over the alleged use of a market manipulation practice called "layering" and could not have them excluded from trial.
A former Auburn University coach accused in a college basketball corruption scheme will plead guilty next week, following convictions and guilty pleas in recent months against others facing related charges, according to a Friday filing in New York federal court.
Northwestern University has urged the Seventh Circuit to uphold its win in a proposed Employee Retirement Income Security Act class action, saying an Illinois federal judge properly tossed claims that the school's retirement plan failed to drop underperforming investment options and offered too many funds to choose from.
Venezuela will ask a World Trade Organization panel to decide whether U.S. sanctions on its goods, services, debt and government-backed cryptocurrency violate international trade rules after efforts to resolve the dispute bilaterally fell short, according to a WTO agenda circulated Friday.