Asset Management

  • June 29, 2022

    Switch Omitted Financial Info On $11B Merger, Investors Say

    A pair of stockholders claimed in separate lawsuits that data center operator Switch Inc. didn't disclose key financial information about a proposed $11 billion go-private deal with investment firms DigitalBridge and IFM Investors.

  • June 29, 2022

    Lowenstein Sandler Finds No Impropriety In FINRA Arbitration

    Lowenstein Sandler LLP's independent review of the Financial Industry Regulatory Authority's arbitration system has found no evidence of an improper agreement to remove certain arbitrators from cases, contradicting the findings of a Georgia state judge earlier this year.

  • June 28, 2022

    SL Green Wants Assets Pinned Down In $185M Award Fight

    An affiliate of New York commercial office space giant SL Green Realty Corp. on Tuesday filed an urgent motion asking a federal court in New York to freeze assets belonging to HNA Group as it looks to enforce a $185.4 million arbitral award against the failing Chinese conglomerate.

  • June 28, 2022

    CFPB Urged To Scrap Anti-Bias Revamp Of Exam Manual

    Major banking trade groups and the U.S. Chamber of Commerce called Tuesday for the Consumer Financial Protection Bureau to scrap new examination policies that broaden the scope of the agency's anti-discrimination policing, hinting at a potential for legal action if the agency doesn't reverse course.  

  • June 28, 2022

    Real Estate Co. Can't Get $12M Virus Coverage Under Policy

    A Connecticut state court judge axed a real estate investment firm's bid to recoup more than $12 million in pandemic-related losses from its insurer, finding that the claim falls clearly within a carveout for damages related to contamination.

  • June 28, 2022

    4 Firms Steer Canadian Miner's $169M Dual-Listed IPO

    Mining company Ivanhoe Electric Inc. began trading Tuesday after pricing a $169 million dual-listed initial public offering in the U.S. and Canada, guided by four law firms, and marking the first U.S. IPO to raise more than $100 million in nearly seven weeks.

  • June 28, 2022

    Frustrated Court Says Lender Must Face Ponzi Scheme Suit

    A Texas federal judge has declined to toss a Ponzi scheme fraud suit brought against a lending company and the CEO of a real estate development company, noting that court has spent many resources on dismissal motions in the case thus far and that the defendants should not file any more dismissal motions.

  • June 28, 2022

    CFPB Says States Can Write Stricter Credit Reporting Laws

    The Consumer Financial Protection Bureau said Tuesday that states can enact tougher credit reporting restrictions than are provided for under federal law, endorsing a limited federal preemption view favored by consumer advocates.

  • June 28, 2022

    Clean Energy Co. Intersect Gets $750M Boost From 3 Firms

    Three private investment firms are infusing Intersect Power with $750 million to help accelerate the expansion of its clean energy platform, according to a statement Tuesday.

  • June 28, 2022

    Feds Ask For Vigilance On Russian Export Sanctions

    Bureaus of the U.S. Treasury Department and U.S. Commerce Department urged financial institutions Tuesday to monitor for efforts of Russia and Belarus to evade export sanctions related to the invasion of Ukraine, providing some pointers that could help keep certain equipment out of the hands of Russia's military. 

  • June 28, 2022

    Benefits Cases To Watch In The 2nd Half Of 2022

    In the second half of the year, benefits attorneys will be keeping a close eye not only on legal battles hinging on familiar themes such as class certification and preemption, but also cases dealing with emerging issues such as cybersecurity and cryptocurrency.

  • June 28, 2022

    Earthstone Pays $627M For New Mexico Oil And Gas Assets

    Earthstone Energy Inc. said Tuesday it has entered into an agreement to purchase, for $627 million, the New Mexico assets of Titus Oil and Gas Production, which is located in the southeast part of the state within the northern Delaware Basin.

  • June 28, 2022

    Compensation Info Biz Pave Lands $1.6B Series C Valuation

    Pave, a company that helps businesses determine salaries for their employees, said Tuesday it was valued at $1.6 billion following its Series C funding round that included Index Ventures, Andreessen Horowitz and YC Continuity Fund.

  • June 27, 2022

    Ex-Trump Official, Philadelphia Atty Must Face Fraud Claims

    A Trump-era State Department official and a Philadelphia attorney on Monday lost bids to escape claims they fraudulently induced an investor to pour millions into Greek medical cannabis companies, with a Pennsylvania federal judge finding a revised suit backed up the allegations.

  • June 27, 2022

    Stanford International Chairman Seeks Ax Of SEC Ponzi Suit

    The chairman of the Stanford International Bank has asked a federal judge in Dallas to toss the U.S. Securities and Exchange Commission's long-running litigation accusing him of using companies under his control to run a $7.2 billion Ponzi scheme.

  • June 27, 2022

    Crypto Exchange Unizen Secures $200M To Spur Growth

    Cryptocurrency exchange Unizen said Monday it secured a $200 million capital commitment from private equity firm Global Emerging Markets to help grow its trading platform.

  • June 27, 2022

    Sustainability Group Sees 'Clear' US Progress On Climate Risk

    U.S. financial regulators have made big strides over the past year in moving to monitor and mitigate the risks that climate change poses to the financial system, but they're still way behind some of their peers internationally, according to a report released Monday by an influential sustainability group.

  • June 27, 2022

    DOL Seeks To Toss 'Downright Bizarre' ERISA Guidance Suit

    The U.S. Department of Labor urged a Florida federal court to toss an American Securities Association suit claiming agency guidance illegally imposed new obligations under federal benefits law, arguing that the guidelines weren't required to go through formal rulemaking procedures.

  • June 27, 2022

    Fed Bans Golden Pacific Bancorp Affiliate From Bank Industry

    The Federal Reserve Board of Governors has prohibited an individual from future participation in the banking industry after he allegedly lied in his application to acquire control of Golden Pacific Bancorp Inc., a former bank holding company in California.

  • June 27, 2022

    Gibson Dunn, K&L Gates Lead $470M Utility Contractor Merger

    Utility market contractor Primoris Services Corp., guided by Gibson Dunn & Crutcher LLP, announced Monday that it plans to acquire utility construction company PLH Group Inc., steered by K&L Gates LLP, in an all-cash transaction valued at $470 million.

  • June 27, 2022

    Nomad Health Raises $105M To Grow Traveling Jobs Program

    Nomad Health, a marketplace for temporary health care jobs, announced Monday that it plans to expand, steered by Pillsbury Winthrop Shaw Pittman LLP, to new specialties after raising $105 million with joint fundraising efforts by Adams Street Partners and Icon Ventures.

  • June 27, 2022

    Grand Jury Probes Trump Platform's SPAC Merger

    Digital World Acquisition Corp., the special-purpose acquisition company planning to buy and take public former President Donald Trump's social media platform, said Monday a federal grand jury issued subpoenas to its board of directors that could derail the planned acquisition.

  • June 27, 2022

    Goodwin Hires Partner For Growing ERISA Practice

    Goodwin Procter LLP has hired a partner for its Employment Retirement Income Security Act and executive compensation practice in New York in response to expected growth in those areas.

  • June 24, 2022

    RL Polk Investors Gain Partial Cert. In Buyback Suit

    Delaware's Chancery Court has certified a limited plaintiff class in a suit brought by former shareholders accusing the leaders of R.L. Polk & Co. Inc. of duping them into selling their shares ahead of a lucrative $1.4 billion merger, but the court denied certification to a proposed defendant class.

  • June 24, 2022

    Bank Groups Worry ESG Proposals Are 'Anything But Neutral'

    A coalition of national and state banker groups is pushing back on efforts by Biden administration financial regulators to develop climate risk guidance and other ESG-minded rules, warning of potentially "acute, widespread and anything but neutral" effects, and consequences for banks' ability to serve customers.

Expert Analysis

  • Investment Adviser ESG Lessons From BNY Mellon Case

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    With the U.S. Securities and Exchange Commission's recent $1.5 million settlement with BNY Mellon over environmental, social and governance disclosure violations, we appear to be at the dawn of a new era of enforcement — which means investment advisers should take new compliance steps, say attorneys at Saul Ewing.

  • 5th Circ. Ruling Signals Judicial Shift On SEC Admin Process

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    The Fifth Circuit’s decision in Jarkesy v. U.S. Securities and Exchange Commission signals a growing discomfort in the judiciary with the SEC's administrative process, and those dealing with enforcement actions should bring their constitutional challenges early and often, say Benjamin Daniels and Trevor Bradley at Robinson & Cole.

  • Opinion

    Now's The Time To Address Archaic Law School Curricula

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    With law school enrollments jumping significantly ahead of a potential recession and more students graduating than the market can absorb, law schools should turn to creative solutions to teach students how to negotiate, work with clients, specialize and use technology to practice their craft more efficiently, says University of Colorado adjunct professor Jason Mendelson.

  • Determining Interest Rate Floors With Transition To SOFR

    Excerpt from Practical Guidance
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    As commercial loans shift from Libor to Secured Overnight Financing Rate term rates, counsel should review existing credit agreements and any amendments, and pay close attention to whether any floors are transitioned or become applicable as a result of an agreement's transition, says Ann Dziuba at LexisNexis.

  • Lessons From Lawyer Fee-Sharing Agreements Gone Wrong

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    The recent fee-sharing dispute between Edelson and Girardi Keese is a reminder that lawyers who do not strictly follow the applicable rules may risk a disciplinary complaint, lose their share of the fee, or wind up in costly litigation with co-counsel, says David Grossbaum at Hinshaw.

  • LeClairRyan Bankruptcy Highlights Pass-Through Tax Issue

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    A Virginia bankruptcy court's recent ruling in the case of defunct law firm LeClairRyan shows there may be serious tax consequences for pass-through entity partners who give up their ownership interest without following operating agreement exit provisions and updating bankruptcy court filings, say Edward Schnitzer and Hannah Travaglini at Montgomery McCracken.

  • SEC Crypto Unit Expansion Is A Warning To Industry

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    The U.S. Securities and Exchange Commission’s recent decision to expand its Crypto Assets and Cyber Unit is a clear signal that federal regulators may increase enforcement against those violating securities laws in the digital asset space, say attorneys at BakerHostetler.

  • 8 Steps To Creating A Legal Ops Technology Road Map

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    Legal departments struggling to find and implement the right technologies for their operations should consider creating a road map that summarizes their approach to technology changes, provides clearly defined metrics for success, and serves as the single source of truth for stakeholders, says Melanie Shafer at SimpleLegal.

  • 2 Years Since Liu, Disgorgement Case Law Is Favoring SEC

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    In the two years since the U.S. Supreme Court’s decision in Liu v. the U.S. Securities and Exchange Commission, circuit courts have weighed in to answer the decision's open questions, and recent cases suggest that courts are unwilling to disrupt disgorgement orders, even where the awards would not survive Liu scrutiny, say attorneys at Ropes & Gray.

  • Latest SPAC Trends Point To Risk Of Negative Outcomes

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    Interest in initial public offerings of special purpose acquisition companies has reached its apex, and in the second half of this year we anticipate sustained levels of SPAC shareholder redemptions, increased liquidations for those unable to consummate an initial business combination and increased litigation risk, say attorneys at The Brattle Group.

  • Arbitration Rulings Suggest Courts Need More Info On ERISA

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    A Colorado federal court's recent Federal Arbitration Act decision in Harrison v. Envision is the latest example of a court not considering important extrastatutory materials that are key to interpreting ERISA and casts significant doubt on whether courts have been interpreting ERISA properly in arbitration cases, says Rick Pearl at Faegre Drinker.

  • An Early Step Toward Regulation Of Carbon Offset Market

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    A recent convening held by the Commodity Futures Trading Commission highlighted a need for greater transparency in voluntary carbon markets and for standardization of what constitutes a good or high-quality carbon offset, as well as the CFTC's potential role in regulating the market, say Levi McAllister and Pamela Tsang Wu at Morgan Lewis.

  • The Importance Of Data And Data Analysis In Litigation

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    Understanding, analyzing and effectively presenting large data sets is an increasingly important skill in litigation as it allows plaintiffs to dramatically scale up the scope of cases and is often critical to defeating motions to dismiss and motions for summary judgment, says David Burnett at Motley Rice.

  • Senate Bill Could Be A Sea Change For Crypto Regulation

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    The recently introduced Responsible Financial Innovation Act, if passed, would transform the digital asset landscape by replacing the U.S. Securities and Exchange Commission as cryptocurrency's default regulator, and by shifting oversight away from the current regulatory framework and legal standard for the space, say attorneys at Brownstein Hyatt.

  • Turnover Provision Ruling Is Warning For Junior Creditors

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    The recent Third Circuit decision in CoFund v. Hitachi serves as a useful reminder to junior and senior creditors as to how their dealings in an intercreditor arrangement may play out following a debtor's bankruptcy, and provides insight into the consequences a junior creditor may face after breaching a turnover provision, say attorneys at Cadwalader.

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