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Asset Management
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August 01, 2025
Highland Capital Asks Supreme Court To Clarify Ch. 11 Shields
Hedge fund Highland Capital Management has urged the U.S. Supreme Court to allow it to safeguard some of the key parties in its Chapter 11 bankruptcy from liability and review a Fifth Circuit decision that narrowed the bankruptcy court's "gatekeeping" powers to determine who can be sued.
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August 01, 2025
2 SPAC Deals Will Take Uranium Miner, Italian E-Grocer Public
Two newly unveiled mergers involving special purpose acquisition companies will aim to take a nuclear energy company and an Italian e-grocery operation public on U.S. exchanges at a combined value of nearly $500 million.
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August 01, 2025
4 Argument Sessions Benefits Attys Should Watch In August
The Ninth and Eleventh circuits in August will hear from employers fighting trial court decisions refusing to kick proposed class actions alleging ERISA violations into individual arbitration. Here's a look at four coming oral argument sessions that should be on benefits lawyers' radar.
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August 01, 2025
Taxation With Representation: Skadden, Wachtell, Latham
In this week's Taxation With Representation, Union Pacific Corp. and Norfolk Southern Corp. announce megamerger plans, Palo Alto Networks acquires identity security company CyberArk, Brookfield buys British life insurer Just Group, and Duke Energy sells its Piedmont Natural Gas Tennessee local distribution business to Spire Inc.
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August 01, 2025
Steel Workers Want OK Of $1.8M Deal In Inflated Stock Suit
A former employee of Flat Rock Metal and Bar Processing has asked a Michigan federal judge to grant a green light to a $1.8 million settlement in a suit claiming the trustees of the company's employee stock ownership plan allowed the plan to buy $60 million in company stock at an inflated price.
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July 31, 2025
6th Circ. OKs Toss Of Trustee Removal Bid In Union Fund Row
A Sixth Circuit panel on Thursday upheld an Ohio federal court's decision finding that a trade union, three trustees of a union benefit fund, and a fund participant cannot remove two other trustees they accused of self-dealing, saying they failed to show they would face irreparable harm.
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July 31, 2025
4th Circ. Says Brokers Owe Atty Fees Over Case Removal Row
A unanimous Fourth Circuit panel has affirmed a South Carolina federal judge's order requiring several financial firms to pay more than $63,000 in legal fees for improperly trying to remove a securities class action to federal court for a second time, but said they don't have to pay additional fees to cover the cost of the appeal.
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July 31, 2025
NYSE Parent May Buy Enverus For $6B, Plus More Rumors
A Milwaukee-based advisory firm is in late talks for a stake sale at a $1 billion valuation, Black Rock Coffee Bar files confidentially for an initial public offering at a similar value, and the Intercontinental Exchange is in talks to buy Enverus for $6 billion. Here, Law360 breaks down these and other notable rumors from the past week.
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July 31, 2025
NC Judge Questions Barings' Bid For Ex-Employees' Emails
A North Carolina business court judge seemed leery Thursday of forcing former Barings' employees to fork over their personal emails and text messages as part of a deposition notice, suggesting Barings was trying to bypass U.K. law to get information from a foreign witness in its suit alleging former executives conducted a "corporate raid" to start a competing credit platform.
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July 31, 2025
Fintech, BofA, JPMorgan Face Class Suit Over Cyberattack
Financial software company Finastra Technology Inc., Bank of America and JPMorgan Chase Bank NA face a proposed class action alleging they failed to properly safeguard customers' personal information that was exposed by a data breach.
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July 30, 2025
3rd Circ. Won't Upend Investors' Class Cert. In J&J Talc Suit
A split Third Circuit on Wednesday upheld a New Jersey federal judge's class certification order in a Johnson & Johnson investor action alleging the company artificially inflated its stock price by failing to disclose cancer risks associated with its talcum powder products, finding the lower court did not err in concluding that common issues predominate in the suit.
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July 30, 2025
DOJ Flags 'Unlawful Discrimination' To Gov't Fund Recipients
The U.S. Department of Justice has outlined what it considers "unlawful discrimination" that federal funding recipients must avoid, including diversity, equity and inclusion programs, transgender athletes and "proxy" discrimination of assessing a job applicant's "cultural competence."
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July 30, 2025
Fenwick, Latham Lead Web Software Giant Figma's $1.2B IPO
Web-design software maker Figma Inc. on Wednesday priced a $1.2 billion initial public offering above its upwardly revised price range, guided by Fenwick & West LLP and underwriters counsel Latham & Watkins LLP.
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July 30, 2025
Iowa Slams Schwab's 'Amorphous' Antitrust Compliance Deal
The state of Iowa is among a slew of objectors to a settlement calling for Charles Schwab Corp. to implement an antitrust compliance program to resolve an investor class action stemming from its merger with TD Ameritrade, arguing the deal is unfair and completely fails to remedy the investors' harm.
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July 30, 2025
TMX Customers Seek Final OK Of $42M Data Breach Suit Deal
Customers of the title loan and payday lender TMX Finance have asked a Georgia federal judge to grant final approval of their $42 million settlement of claims arising from a data breach that affected an estimated 4.8 million people.
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July 30, 2025
GTCR Denied Rival's Old Sales Prospects Data In FTC Case
An Illinois federal judge refused Tuesday to force a rival medical device coatings company to cough up old sales projections data so private equity firm GTCR BC Holdings can defend against a Federal Trade Commission challenge to its $627 million purchase of Surmodics.
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July 30, 2025
Senate Panel Advances 2 Bipartisan Bills Boosting ESOPs
A key Senate panel advanced two bills Wednesday that would change federal benefits law related to employee stock ownership plans, or ESOPs, by providing businesses additional legal cover when they make company stock valuations and by adding ESOP representatives to a federal advisory board.
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July 30, 2025
Truist Triggered Employee Exodus, Not Ex-Execs, Court Told
Three former executives who helmed the real estate finance arm of Truist Financial Corp. and their new employer are seeking a pretrial win in the bank's poaching case, telling a North Carolina state court judge they aren't to blame for Truist's alleged bad business decisions.
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July 30, 2025
Dechert Asset Management Pro Jumps To K&L Gates
K&L Gates LLP announced it has gained an asset management and investment funds lawyer from Dechert LLP in New York.
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July 30, 2025
KKR Secures $6.5B For Asset-Based Finance Investments
Investment managing giant KKR on Wednesday revealed that it wrapped a $6.5 billion asset-based finance-focused fundraise, including $5.6 billion for the firm's KKR Asset-Based Finance Partners II and close to $1 billion from separately managed accounts focused on the same investment opportunities.
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July 30, 2025
4 Firms Steer Palo Alto Networks' $25B CyberArk Buy
Cybersecurity giant Palo Alto Networks revealed plans Wednesday to acquire identity security company CyberArk in a cash-and-stock megadeal valued at $25 billion and built by four law firms.
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July 29, 2025
Hedge Fund Nets $54M In S. Korea Samsung Merger Fight
South Korea has paid nearly $54 million owed under an arbitral award issued to a U.S. hedge fund in a dispute over a government bribery scandal that allegedly underpinned the $8 billion merger of two Samsung affiliates in 2015, Seoul said on Tuesday.
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July 29, 2025
SEC Tosses Broker's NSCC Margin Rule Challenge
The U.S. Securities and Exchange Commission has dismissed a bid by Alpine Securities Corp. to challenge heightened margin requirements from the National Securities Clearing Corp., with the commission finding the rules are too broadly applicable to warrant review as a denial of access.
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July 29, 2025
SEC Greenlights 'In-Kind' Redemptions For Crypto ETPs
The U.S. Securities and Exchange Commission voted Tuesday to approve orders to allow cryptocurrency-based exchange-traded products to use in-kind creations and redemptions, aligning with more traditional ETPs.
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July 29, 2025
Prime Core Ch. 11 Trust Seeks Return Of $2.1M In Transfers
The litigation trust for Prime Core Technologies has sued to claw back $2.1 million in cash and cryptocurrency paid out to customers in the weeks before its bankruptcy filing, saying other creditors are facing a serious recovery shortfall worsened by the payments.
Expert Analysis
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Opinion
Section 1983 Has Promise After End Of Nationwide Injunctions
After the U.S. Supreme Court recently struck down the practice of nationwide injunctions in Trump v. Casa, Section 1983 civil rights suits can provide a better pathway to hold the government accountable — but this will require reforms to qualified immunity, says Marc Levin at the Council on Criminal Justice.
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Why Bank Regulators' Proposed Leverage Tweak Matters
Banking agencies' recent proposal to modify the enhanced supplementary leverage ratio framework applicable to the largest U.S. banks shows the regulators are keen to address concerns that the regulatory capital framework is too restrictive, say attorneys at Moore & Van Allen.
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Now Is The Time To Prep For SEC's New Data Breach Regs
Recent remarks from the U.S. Securities and Exchange Commission’s acting director of the Division of Examinations suggest that the commission will support exams for compliance with its new data breach detection and reporting regulations, and a looming deadline means investment advisers and broker-dealers must act now to update their processes, say attorneys at McGuireWoods.
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How Banks Can Harness New Customer ID Rule's Flexibility
Banking regulators' update to the customer identification process, allowing banks to collect some information from third parties rather than directly from customers, helps modernize anti-money laundering compliance and carries advantages for financial institutions that embrace the new approach, say attorneys at Bradley Arant.
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Series
Playing Soccer Makes Me A Better Lawyer
Soccer has become a key contributor to how I approach my work, and the lessons I’ve learned on the pitch about leadership, adaptability, resilience and communication make me better at what I do every day in my legal career, says Whitney O’Byrne at MoFo.
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Opinion
The SEC Should Embrace Tokenized Equity, Not Strangle It
The U.S. Securities and Exchange Commission should grant no-action relief to firms ready to pilot tokenized equity trading, not delay innovation by heeding protectionist industry arguments, says J.W. Verret at George Mason University.
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Compliance Changes On Deck For Banks Under Texas AI Law
Financial services companies, including banks and fintechs, should evaluate their artificial intelligence usage to prepare for Texas' newly passed law regulating AI governance, noting that the enforcement provisions provide for an affirmative defense to liability, say attorneys at Mitchell Sandler.
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Series
Law School's Missed Lessons: Learning From Failure
While law school often focuses on the importance of precision, correctness and perfection, mistakes are inevitable in real-world practice — but failure is not the opposite of progress, and real talent comes from the ability to recover, rethink and reshape, says Brooke Pauley at Tucker Ellis.
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Tips For Crypto AI Agent Developers Under SEC Watch
With agents powered by artificial intelligence increasingly making decisions in the cryptocurrency world, there's a chance the U.S. Securities and Exchange Commission could use the Investment Advisers Act to regulate this technology in financial services, but there are ways developers can mitigate regulatory risks, say attorneys at Morrison Cohen.
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Lessons On Parallel Settlements From Vanguard Class Action
A Pennsylvania federal judge’s unexpected denial of a proposed $40 million settlement of an investor class action against Vanguard highlights key factors parties should consider when settlement involves both regulators and civil plaintiffs, say attorneys at Ropes & Gray.
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Series
Adapting To Private Practice: From ATF Director To BigLaw
As a two-time boomerang partner, returning to BigLaw after stints as a U.S. attorney and the director of the Bureau of Alcohol, Tobacco, Firearms and Explosives, people ask me how I know when to move on, but there’s no single answer — just clearly set your priorities, says Steven Dettelbach at BakerHostetler.
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What To Know As SEC Looks To Expand Private Fund Access
As the U.S. Securities and Exchange Commission considers expanding retail access to private markets, understanding how these funds operate — and the role of financial intermediaries in guiding investors — is increasingly important, say attorneys at K&L Gates.
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Balancing The Promises And Perils Of Tokenizing Securities
Tokenizing listed securities offers the promise of greater efficiency, accessibility and innovation, but a recent U.S. Securities and Exchange Commission statement makes clear that the federal securities laws continue to apply to tokenized securities, so financial institutions and technology developers must work together to create clear rules, say attorneys at Orrick.
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SEC, FINRA Obligations In Changing AI Regulatory Landscape
Despite the U.S. Securities and Exchange Commission's recent withdrawal of its proposed artificial intelligence conflict rules, financial regulators remain focused on firms developing the correct AI compliance framework, as well as continuously testing and supervising them to ensure they're fit for purpose, say attorneys at Cahill Gordon.
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Series
Playing Baseball Makes Me A Better Lawyer
Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success as a trial attorney, says Kevan Dorsey at Swift Currie.