A New York federal judge on Friday said he would not reconsider his decision to order jurisdictional discovery for claims that HSBC's Hong Kong affiliate aided a Ponzi scheme that pulled $37 million from investors' pockets.
A Delaware vice chancellor on Friday rejected a post-deal appraisal challenge by hedge fund investors that claimed the $13.2 billion sale of Jarden Corp. to Newell Rubbermaid Corp. in 2016 was undervalued by roughly $5 billion, citing recent Delaware Supreme Court decisions as a road map in setting the merger's fair share value.
Norm Ashkenas helped guide Fidelity's brokerage and retirement products through the 2008 financial crisis and is one of its top compliance executives at a time when standards for financial professionals are in flux.
Venture capital-backed Radiology Partners, guided by Goodwin, said Friday it reached a $4 billion valuation following an investment from Starr Investment Holdings.
Cummins has made an offer for MAN Energy Solutions, Apollo Global Management has offered to buy French credit insurer Coface, and Brookfield Asset Management is considering selling luxury Bahamian resort Atlantis Paradise Island Resort.
U.K.-based Regional REIT said Friday it has raised £62.5 million ($78.2 million) through an offering of roughly 58.7 million shares, exceeding a £50 million target established at the end of June.
The Financial Industry Regulatory Authority has asked U.S. broker-dealers to proactively alert it if they plan to work with digital assets, adding another 12 months to a request for voluntary disclosures that FINRA launched one year ago.
Blackstone is reportedly seeking to sell $1 billion or more of logistics assets that it will soon acquire, Hasta Capital is said to have picked up a Florida apartment complex for $23.2 million and Shorewood Development Group is reportedly buying four Chicago buildings from Nealey Foods.
A trio of companies, including a Latin American asset manager, made their public debuts Friday, hitting the market a day after pricing shares in initial public offerings that brought in a total of $1 billion.
Sovereign wealth funds rival their private-sector counterparts in market share and are helping fuel the development of emerging industries, but their varied approach means attorneys who advise them must prepare to navigate uncharted waters.
Initial exchange offerings, a fast-rising global phenomenon where cryptocurrency exchanges administer token sales on behalf of blockchain startups, stand little chance of taking off in the U.S. because of legal risks tied to this novel form of capital raising, lawyers say.
The last week has seen the owner of a Manchester skyscraper that needed repair sue several underwriters at Lloyd's, a prominent cryptocurrency trader drag a U.K. digital currency exchange into court and an executive for Honeywell sue HSBC Bank PLC. Here, Law360 looks at those and other new claims in the U.K.
An affiliate of the Atlanta-based apartment complex owner Cortland Partners LLC has stuck a deal with the help of King & Spalding LLP counsel to acquire the Vancouver, British Columbia-based real estate investment trust company Pure Multi-Family for $1.2 billion, the companies announced Thursday.
On the second day of binary options executive Lee Elbaz’s fraud trial, one of her former subordinates took the stand to tell a Maryland federal jury that Elbaz coached her on how to lie to investors to bring in more cash.
The U.S. Securities and Exchange Commission should make it more clear that companies are not required to give quarterly earnings guidance, certain members of a panel told agency officials on Thursday, worried that fixation on short-term results is unhealthy for America’s public markets.
Blackstone's infrastructure fund raised $14 billion in the final close of its inaugural fundraising round, putting the Simpson Thacher-guided vehicle among the world's three largest infrastructure funds, Blackstone said Thursday.
Sen. Elizabeth Warren, D-Mass., called for greater regulation of private equity firms Thursday with legislation intended to quell what she dubbed the “legalized looting” of portfolio companies.
CVS urged a Rhode Island federal judge not to certify classes of insured health plans claiming the company conspired with pharmacy benefits managers to overcharge them for generic drugs while secretly offering discounts to cash-paying customers, saying the fraud classes are undefinable.
A Magnum Management venture has reportedly sold a New York retail condo for $88.75 million, Oscar Health is said to be taking another 80,000 square feet in New York, and Trez Forman Capital has reportedly loaned $13.2 million for a Florida luxury condo project.
The Ninth Circuit affirmed Thursday that Berkley National Insurance Co. isn't obligated to cover a $38 million defamation award that a Los Angeles real estate investor won against Berkley's policyholder, who created websites comparing the investor to jailed Ponzi schemer Bernie Madoff.
A former portfolio manager at a hedge fund agreed Thursday to pay about $800,000 to end allegations by the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission that he inflated the value of investments to boost his personal bonus.
The two co-founders of Capital Energy Group LLC orchestrated a $3.9 million Ponzi scheme in which they promised investors high returns on an oil and gas offering, according to a U.S. Securities and Exchange Commission suit filed in Texas federal court Wednesday.
Data center company Compass said Thursday it secured additional funding for a planned $3 billion expansion, with guidance from Fried Frank and Wick Phillips.
A putative class of investors urged an Illinois federal court not to toss their suit against Camping World Holdings Inc., saying "operational challenges" and a failure to predict the future by its leadership still meant it misled investors.
Five companies’ shares began trading on U.S. exchanges Thursday after the companies, led by a Danish biotechnology firm, priced initial public offerings that together raised nearly $1.1 billion.
The long-anticipated joint statement issued earlier this month by the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority reminds entities effecting transactions in digital asset securities of broker-dealer compliance requirements with regard to custody, but falls short of providing actionable guidance, say attorneys at Morgan Lewis.
If enacted, California’s Assembly Bill 5 would codify the so-called ABC test for independent contractors established in the California Supreme Court's Dynamex decision. Notably, the bill goes beyond the scope of Dynamex and could have an extraordinary impact on the state's economy, say attorneys at Littler.
Rothschild Barry's John Coffey, who joined Justice John Paul Stevens' law firm in 1965, shares what it was like to watch Justice Stevens practice law, mentor younger lawyers and land a malfunctioning plane.
The U.S. Securities and Exchange Commission's recent amendments to the rules governing auditor independence standards will narrow substantially the entities that an auditor and funds must evaluate for purposes of assessing the auditor's independence, say attorneys at Proskauer.
While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.
The U.S. Securities and Exchange Commission is seeking public comment on whether the definition of an "accredited investor" should be expanded to increase access to private securities placements. The move may be a response to growing complaints that small investors are being shut out of these higher-return offerings, says David Stockton of Kilpatrick Townsend.
The administrative record is very important to federal agency litigation — as showcased in last month's U.S. Supreme Court decision concerning the addition of a citizenship question to the 2020 census — yet there is no set of consistent principles to guide agencies in compiling these official records, say attorneys at WilmerHale.
Until challenges to the U.S. Securities and Exchange Commission's newly adopted Regulation Best Interest play out in court, broker-dealers can reconcile conflicting state and federal standards of conduct by complying with the most restrictive applicable regulatory requirements, say Ghillaine Reid and Kurt Wolfe of Troutman Sanders.
Since 32 of the 67 decisions issued by the U.S. Supreme Court during its October term cite dictionaries, it’s worth reviewing the opinions to learn which dictionaries the justices consulted and how they used them, say Bruce Wessel and Brian Weissenberg of Irell & Manella.
Although the rate of employment for law school graduates — which had been falling steadily — saw a small increase over the last year, other factors, such as fewer graduates overall and potential future job growth stagnation, temper the good news for those pursuing law degrees, say Tiffane Cochran and Tyler Grimm of AccessLex Institute.
Legislation introduced in Congress this month would reshape the U.S. Securities and Exchange Commission’s process for granting waivers to companies disqualified from certain financial activities by government enforcement actions, potentially injecting politics into the waiver process, and hamstringing authorities' ability to settle rather than litigate cases, say attorneys at Simpson Thacher.
In recent cases like Doshi v. General Cable Corp., plaintiffs attorneys have tried to use company disclosures of government investigations or settlement agreements with regulators to craft private claims for corporate bribery. There are a few things companies might consider to limit their exposure to such claims, say attorneys at DLA Piper.
Leveraging the collective strengths of a diverse workforce is not only the right thing to do, it’s a strategic imperative for any successful firm or business, says Louise Pentland, executive vice president and chief business affairs and legal officer of PayPal.
Because artificial intelligence tools are becoming ubiquitous in the financial services ecosystem, financial companies will need to be ready for the unique discovery challenges that AI-related litigation will bring, and for plaintiffs attorneys' attempts to exploit such challenges for strategic advantages, say attorneys at Mayer Brown.
Financial exploitation of senior citizens with mental or physical impairments is a growing problem. Finance professionals can ask a few simple questions to help determine whether an investor is able to protect his or her own interests, and to protect the firm from liability in case harm is alleged later, says Coren Stern of León Cosgrove.