A group of Hilton retirees on Friday asked a D.C. federal judge to certify a class in their suit claiming they were cheated out of pension benefits through improper vesting rules, saying the hotel chain resorted to "the Rule 23 equivalent of schoolyard name-calling" in its opposition.
A set of investment vehicles that bought more than $665 million worth of notes in residential mortgage-backed securities trusts overseen by US Bank told a New York federal judge on Thursday not to be swayed by the bank’s recent attempt to dodge a breach of contract dispute.
More companies are taking advantage of the ability to communicate with select investors in order to gauge market interest before an initial public offering, a trend that lawyers expect to accelerate now that so-called "testing the waters" benefits are available to all companies.
Shareholder activism will remain popular in 2020, but recent years have seen the practice morph to include much more than proxy contests, and attorneys must stay up to date on the novel methods investors are using to try and assert influence at companies.
“Pharma bro” Martin Shkreli dropped his fraud case against a witness at his criminal trial who is also the son of a former investor, according to a filing in New York federal court Thursday.
In this week's Taxation With Representation, Morgan Stanley buys E-Trade in a $13 billion deal, Canada's Northview Apartment REIT is sold for $3.6 billion, and Amherst Residential acquires fellow rental company Front Yard Residential for $2.3 billion.
Massachusetts' top securities cop sharply criticized U.S. Securities and Exchange Commission broker standards as he announced Friday that the Bay State will implement its own conduct rules that are stricter than those set forth by the federal government.
Investors in the Chicago Board Options Exchange urged an Illinois federal judge to immediately enter final, and therefore appealable, judgment on an order ending claims over the alleged manipulation of the exchange's volatility index.
A Texas federal judge on Friday gave his blessing to Greenberg Traurig's $65 million settlement of claims related to its alleged involvement in a $7 billion scheme run by convicted Ponzi scammer R. Allen Stanford.
Herbert Smith Freehills represented U.K. real estate firm Hammerson in connection with its sale, announced Friday, of seven retail properties to a fund of European private equity shop Orion Capital Managers for £400 million ($518.9 million).
Myron Rumeld, the co-chair of Proskauer Rose LLP's employee benefits and executive compensation group, shared his expectations for a U.S. Supreme Court term packed with Employee Retirement Income Security Act cases and his thoughts on the biggest unresolved questions in ERISA litigation in an exclusive interview with Law360.
The past week in London has seen a premium payment card provider drag an exiled Ukrainian politician to court, an investment company sue Cuba for unpaid government debt and lenders offering unregulated finance take action against The Times newspaper. Here, Law360 looks at these claims and more.
A Delaware bankruptcy judge left open the possibility Thursday of a court-fashioned alternative to competing plans for meeting a bankrupt creditor group’s demand for sales of nondebtor companies controlled by business turnaround mogul Lynn Tilton’s Patriarch Partners LLC.
A Florida magistrate judge recommended Thursday that an ex-Raydon employee be allowed to lead a class action suit over a $60.5 million employee stock ownership plan transaction, rejecting arguments that certification should be denied because of the worker’s “extreme personal animus.”
The U.S. Commodity Futures Trading Commission on Thursday proposed two rule changes regarding swap data reporting, including allowing large firms more time to disseminate information about block trades, among other changes intended to provide businesses more flexibility and simplify reporting.
Ligand Pharmaceuticals joined the U.S. Securities and Exchange Commission's call Wednesday to sanction a Greek Orthodox priest facing a short-selling suit for trying to “poison the well” with selective leaks to a Barron’s reporter of confidential documents.
Canadian real estate investment trust Northview Apartment REIT is being bought up by an asset manager and a private equity group, the companies said Thursday, in a deal worth CAD$4.8 billion ($3.6 billion) and led by six Canadian firms.
The U.S. Securities and Exchange Commission said Wednesday that two men accused of conducting a $3.9 million Ponzi scheme with oil and gas offerings cannot try to pin the blame on a driller they allegedly worked with.
German real estate investor Deka Immobilien said Thursday it paid €153 million ($165 million) for a Dublin office building, which will be part of the investor’s new real estate fund.
A purported investment professional scammed seniors out of $200,000, spending it on cigars and a Corvette, then told his customers their money vanished into thin air, multiple federal enforcement authorities alleged Thursday.
Morgan Stanley, counseled by Davis Polk, has agreed to buy Skadden-advised financial services company E-Trade for roughly $13 billion, the companies said Thursday, in a deal that stands to fortify Morgan Stanley’s position as a leading wealth management business.
Only two investor deals finalized last year were big enough to crack the top 100 largest U.S. securities class action settlements, according to recently released data, but several big deals may join their ranks in 2020.
Corporate turnaround mogul Lynn Tilton denied holding up court-supervised efforts to sell off parts of her Patriarch Partners business portfolio Wednesday while testifying in a dispute over competing deadlines and strategies for the Zohar Funds’ Delaware Chapter 11 process.
U.S. Bank told a New York federal judge on Wednesday that another judge in his district has fully dismissed a lawsuit "materially similar" to claims the bank is facing in his court over residential mortgage-backed securities trusts.
DST Systems Inc. has urged a New York federal judge to disqualify four law firms from representing the company's 401(k) plan participants in their legal challenges to its plan management practices, saying the firms have a conflict of interest because they also represent former plan advisers.
The recently enacted Setting Every Community Up for Retirement Enhancement Act includes a helpful extension of the annual deadline to adopt a new qualified plan, but there is still complexity in documenting for the IRS when the plan was put in place, says Daniel Morgan at Blank Rome.
A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.
Institutional investors in private equity and venture capital funds should push back against limited partnership agreements that make it impossible to remove a general partner for any reason, say Kenneth Witt and Marc Lieberman at Kutak Rock.
Public company boards of directors should recognize environmental, social and governance issues as a growing priority for investors, identify the purpose of their corporation, and consider focusing on a broader set of stakeholders, say Valeska Pederson Hintz and James O'Grady at Lowenstein Sandler.
There are several provisions of the recently enacted Setting Every Community Up for Retirement Enhancement Act that defined contribution plans should be thinking about now, even though many of the law’s big-ticket changes are not effective until 2021, say Casey Fleming and Hannah Demsien at Foley & Lardner.
As attorneys, we may prefer the precision of written communication, but a phone call or an in-person conversation builds trust by letting others see and hear our authentic selves, rather than something constructed or scripted, says mediator Sidney Kanazawa of ARC.
Recently effective changes to the Financial Industry Regulatory Authority's initial equity public offering sales and distribution rules introduce new considerations for exempt investors, the types of securities offerings subject to the rules, and the types of investors broker-dealers can sell to, say Anna Pinedo and Ali Perry at Mayer Brown.
The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.
The U.S. Department of Justice has taken more white collar cases against executives to trial this winter, focusing on Foreign Corrupt Practices Act and cartel allegations, and scoring noteworthy victories in a canned tuna price-fixing case and two rate-rigging cases, say attorneys at Miller & Chevalier.
Companies preparing their 2020 proxy statements should keep several compensation plan and disclosure issues in mind on the heels of recent say-on-pay and executive remuneration policy updates from Institutional Shareholder Services and Glass Lewis, say attorneys at Pillsbury.
The U.S. Securities and Exchange Commission's recently released exam priorities encourage firms to emphasize investor protection and consider compliance in light of evolving business and market demands, say attorneys at Lowenstein Sandler.
Amid increasing risk exposure from financial services companies' partners, clients and affiliates, opportunities exist to leverage processes across firms' anti-money laundering and anti-bribery and corruption programs, says Michelle Goodsir at K2 Intelligence.
Co-investment lines can offer the financing needed to make employee investment an attractive benefit, filling a growing demand for additional liquidity and flexibility at the upper levels of a private equity fund's corporate structure, say attorneys at Haynes and Boone.
A recent survey of lawyers’ professional liability insurers revealed an increase in malpractice claims against law firms, suggesting clients will demand more accountability in the coming decade, say Gerald Klein and Amy Nguyen at Klein & Wilson.
In her new book, "Guilty People," Abbe Smith successfully conveys that seeing ourselves in people who commit crime may be the first step to exacting change in our justice system, says U.S. District Judge Diane Humetewa of the District of Arizona.