Asset Management

  • July 30, 2021

    CFPB Scraps Proposal To Delay Debt Collection Rules

    The Consumer Financial Protection Bureau said Friday that it has decided to move forward with implementation of its Trump-era debt collection rules later this year as originally planned, scrapping a proposed delay while not ruling out more substantive changes in the future.

  • July 30, 2021

    SEC Raises The Disclosure Bar For China-Based IPO Seekers

    The U.S. Securities and Exchange Commission on Friday announced a series of new disclosure requirements that will make it harder for Chinese companies to launch IPOs in the U.S., answering calls by lawmakers who say the Chinese government may be intentionally exploiting U.S. investors.

  • July 30, 2021

    Del. Court Orders New Trial On $749M Yahoo Patent Reserve

    Delaware Chancery Court on Friday ordered a new trial and directed former Yahoo owner Altaba Inc. to set aside a $749 million patent infringement suit cash reserve previously ruled unnecessary, citing post-trial disclosures and actions that "undermined" court confidence that the cash would be available if needed.

  • July 30, 2021

    Smith Gambrell Guides CatchMark Venture's $498M Land Sale

    A CatchMark Timber Trust venture, advised by Smith Gambrell & Russell LLP, is selling 301,000 acres of timberlands property to a Hancock Natural Resource Group client for $498 million, according to an announcement on Friday from CatchMark Timber.

  • July 30, 2021

    Bridgepoint Buys Stake In $1B Sustainability-Focused Firm

    Bridgepoint snagged a minority stake in ACT in a deal announced Friday that values the sustainable-energy-focused company at $1 billion. 

  • July 30, 2021

    Delivery Co. Gopuff Hits $15B Valuation With New Funding

    Home goods, alcohol and grocery delivery service Gopuff said Friday that it has raised $1 billion at a $15 billion valuation, with plans to use the capital to accelerate expansion across North America, the U.K. and Europe.

  • July 29, 2021

    House Backs Big Boost To FinCEN's Budget In Spending Bill

    The Financial Crimes Enforcement Network would receive tens of millions of dollars in additional funding under the federal spending package approved by the U.S. House on Thursday, which would be the agency's biggest budget boost in years.

  • July 29, 2021

    FinCEN's New Adviser Aims To Crack Down On Crypto Crime

    Michele Korver's career has led her into the deepest parts of the criminal underworld, hunting criminals who use digital currencies to finance their misdeeds. But as debate rages over the regulation of digital assets, there are no hard feelings regarding crypto from Korver, who became the Financial Crimes Enforcement Network's first-ever chief digital currency adviser this month.

  • July 29, 2021

    House Gives SEC $73M Boost, Blocks Trump-Era Proxy Rules

    The U.S. House of Representatives voted to approve a bill Thursday giving the U.S. Securities and Exchange Commission a $73 million funding boost over fiscal year 2021, while blocking the agency from using the funds to implement controversial Trump-era proxy voting rules.

  • July 29, 2021

    'Mixed Bag' Chancery Ruling Keeps Utah Mine Suit Alive

    In what he called a "mixed bag" ruling, a Delaware vice chancellor moved toward trial counterclaims in a sprawling Chancery Court battle over an alleged international loan-to-own scheme dating to 2013 and focused on a $600 million Utah copper mine.

  • July 29, 2021

    Royal Bank Of Canada Unit Let Out Of Forex Rigging Suit

    A subsidiary of the Royal Bank of Canada has been let out of an investor suit brought against more than a dozen global banks for allegedly plotting to manipulate foreign exchange rates, with a New York federal judge granting a dismissal bid for the subsidiary but not the parent company.

  • July 29, 2021

    Bank Hapoalim's US Arm Names New GC From RBC Capital

    BHI, Israel-based Bank Hapoalim's U.S. division, said Thursday it has tapped an RBC Capital Markets LLC senior counsel to serve as its new top attorney.

  • July 29, 2021

    Real Estate Rumors: Publix, Greenberg Traurig, Adam Snow

    Publix Super Markets has reportedly paid $9.14 million for 20 acres in Florida, Greenberg Traurig is said to have subleased out space in Manhattan to the Carlyle Group and an entity managed by investor Adam Snow has reportedly picked up a Florida apartment complex for $15 million.

  • July 29, 2021

    Sustainable Biomanufacturing Co. Grabs $100M In Series B

    Industrial biotech company Bota Bio raised over $100 million in a Series B funding round led by Sequoia Capital China, bringing in more money to expand its global operations and sustainable product pipeline, the company announced Thursday.

  • July 29, 2021

    Battery Maker Clarios Delays $1.7B IPO, Citing 'Volatility'

    Vehicle battery manufacturer Clarios on Thursday delayed its $1.67 billion initial public offering due to "market volatility," roughly a week after starting its roadshow.

  • July 29, 2021

    Robinhood Hits The Markets After $2.1B Cravath-Led IPO

    Stock-trading platform Robinhood made its public market debut Thursday after pricing a much-anticipated, $2.1 billion initial public offering guided by Cravath Swaine & Moore LLP.

  • July 29, 2021

    Nikola Founder Charged In NY With Lying To Raise Billions

    The Manhattan U.S. attorney's office unveiled fraud charges against Nikola Corp. founder and onetime chairman Trevor Milton on Thursday, accusing him of lying to investors about his company's ability to build an electric- and hydrogen-powered truck, dubbed the Badger, and unlawfully raising billions of dollars.

  • July 28, 2021

    7th Circ. Revives Stock Suit Against Ex-Appvion Execs

    A Seventh Circuit panel revived litigation accusing the ex-leaders of the bankrupt paper company Appvion of overvaluing the business's stock to line their own pockets, saying Wednesday that the Employee Retirement Income Security Act doesn't preempt state-law misconduct claims against the former directors and officers.

  • July 28, 2021

    2 Firms Seek To Rep Investors In Sprawling Robinhood Suit

    The Rosen Law Firm PA and Bursor & Fisher PA have filed lead plaintiff bids in consolidated actions that are part of multidistrict litigation alleging stock-trading app Robinhood caused more than $10 billion in market capitalization losses after its customers were hit in January with trading restrictions on certain stocks.

  • July 28, 2021

    Cornell Asks 2nd Circ. To Drop ERISA Class Action

    Cornell University urged the Second Circuit on Wednesday to back a lower court's decision axing allegations that the Ivy League school mismanaged its employee retirement plans, saying the class didn't have evidence supporting claims that the plans paid unreasonable fees and offered poor-performing investment options.

  • July 28, 2021

    Starwood Capital Urges Monmouth Investors Against $3B Deal

    Starwood Capital Group on Wednesday publicly urged fellow shareholders in real estate investment trust Monmouth to reject a $3.4 billion all-stock buyout offer from a competing investor, a move that comes nearly a week after its own bid for the company was turned down.

  • July 28, 2021

    Kirkland Helps GLP Capital With $2.3B Logistics Fund

    GLP Capital Partners, advised by Kirkland & Ellis LLP, said Wednesday it wrapped up a record fund with roughly $2.3 billion that will target logistics properties in North America.

  • July 28, 2021

    Deloitte Can't Strip Class Claims From Maternity Leave Suit

    A Manhattan federal judge declined Wednesday to strike class action claims from a former Deloitte cybersecurity expert's suit alleging that she was fired from her role as a senior manager because she took full maternity leave.

  • July 28, 2021

    Judge Axes Utah LLC's Contract Claims Against Conn. Atty

    One of Connecticut's most seasoned federal judges ruled that a Utah company could not pursue breach of contract and covenant claims against a New Haven County-based attorney whom it accused of helping it purchase tax lien certificate portfolios at prices he knew were inflated.

  • July 28, 2021

    Citizens Financial To Acquire Investors Bank In $3.5B Deal

    Citizens Financial Group Inc. has agreed to acquire all outstanding shares of Investors Bancorp Inc. in a roughly $3.5 billion stock and cash deal steered by Sullivan & Cromwell LLP and Luse Gorman PC, according to a joint announcement from the banks Wednesday.

Expert Analysis

  • What To Expect Under New SEC Enforcement Director Grewal

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    Newly appointed U.S. Securities and Exchange Commission Director of Enforcement Gurbir Grewal’s record as a public servant provides insight into the SEC’s likely priorities for the coming year, and firms should expect him to work closely with Chair Gary Gensler in pursuing an aggressive enforcement agenda, say attorneys at Ropes & Gray.

  • Responding To Fraud Charges Based On Trade Data Analytics

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    Anthony Barkow and Charles Riely at Jenner & Block examine recent charges against a Canadian hedge fund manager to highlight how defense practitioners can appraise suspicious trading pattern evidence gleaned from the U.S. Securities and Exchange Commission's data analytics.

  • Law Firms, Know Who's Responsible For Your Cloud Security

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    Lawyers generally know that files go into the cloud and that the files are then secured and protected, but it's necessary for firms to take a closer look at their cloud supply chain and then come up with a responsibility matrix that helps mitigate any potential risks or weaknesses, says Martin Ward at iManage.

  • Benefits For Law Firms Venturing Into New Services

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    By offering more services, law firms can deepen and strengthen their client relationships and truly become an extension of their clients' teams while generating new revenue streams, and while there are risks associated with expanding into consulting, they may be worth it, says Lou Ramos at Major Lindsey.

  • Series

    Embracing ESG: Exelon GC Talks Diversity Initiatives

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    Executing a commitment to diversity, equity and inclusion programming, through recruitment, inclusive legal pipelines and community empowerment via pro bono efforts, can ensure a strong environmental, social and governance proposition, says Gayle Littleton at Exelon.

  • Recent SPAC Settlement Signals SEC Enforcement Wave

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    The U.S. Securities and Exchange Commission's recent settlement with special purpose acquisition company Stable Road — and its sponsor, CEO and proposed merger target — over false representations to investors illustrates the agency's heightened focus on policing SPAC transactions and should prompt participants to ensure adequate due diligence, say attorneys at Pillsbury.

  • Revamping Law Firm Marketing Lists — With Partner Buy-In

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    Jackson Lewis’ Paige Bowser shares lessons from the firm's recent overhaul of an outdated email marketing database, including tips for getting partners on board, ensuring compliance with privacy laws and augmenting outreach strategies.

  • The Murky World Of Legal Rankings Gets Some Clarity In NJ

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    New Jersey's new, stringent approach to legal rankings will make accolade advertising more transparent, benefiting both attorneys and clients and offering legal marketers a new set of best practices amid evolving standards, say Penny Paul at Lowenstein Sandler and Susan Peters at Greybridge.

  • Series

    Embracing ESG: Cigna Counsel Talks Employee Wellness

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    Building employee well-being into corporate environmental, social and governance priorities required our legal team to focus more closely on cross-functional collaboration within the company and increased communication with our board of directors and shareholders, says Julia Brncic at Cigna.

  • FINRA Shows Subtle Shift On Evaluating Best Execution

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    McGuireWoods’ Elizabeth Hogan and Alexander Madrid analyze the Financial Industry Regulatory Authority's recent notice on best execution and payment for order flow, identifying an isolated focus on price that pivots from prior guidance emphasizing a more holistic approach.

  • How Western States Help The Wealthy Avoid Taxes, Creditors

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    The race by certain states in the western U.S. to legalize shell companies, private trusts and other mechanisms allowing wealthy individuals to avoid taxes and creditors underlies the U.S.' status as a secrecy haven of choice, says Daniel Pascucci at Mintz.

  • Hybrid Work Models Are Key To Gender Parity In Law Firms

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    To curb the historically high rates of attrition among female lawyers, Roberta Liebenberg at Fine Kaplan and Stephanie Scharf at Scharf Banks suggest firms must normalize hybrid work schedules, and they recommend best practices to promote engagement among all attorneys, regardless of where they work.

  • Credit-Sensitive Rates Could Allay Libor Transition Hurdles

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    Adopting a Libor replacement requires careful understanding of the Secured Overnight Financing Rate's performance issues, comprehensive price term negotiation, and consideration of alternative benchmarks — like Ameribor — whose base rate and credit spread advantages come in contrast to U.S. banking officials' recent critiques of credit-sensitive rates, says Jeffrey Armstrong at Berkeley Research.

  • 3 Keys To Winning Your Next Oral Argument

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    To leverage the unique opportunity oral arguments provide to talk directly to judges and contribute to their decision making, attorneys must mind the three hallmarks of persuasiveness: projecting credibility, exuding likability and gaining the listener's trust, says Daniel Karon at Karon LLC.

  • Keys To Efficient And Accurate Doc Review For E-Discovery

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    Attorneys involved in e-discovery can review information accurately and cost-effectively by understanding the data in a document collection and identifying its key pitfalls, drafting comprehensive review guidelines, and preparing ahead, says John Wertelet at Eckert Seamans.

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