Asset Management

  • January 17, 2020

    Pulling Up Stakes: Sidley, Baker Botts, Hogan Lovells

    In our latest roundup of deal-makers on the move, Sidley Austin snagged a private equity pro from Linklaters for its Singapore office, Baker Botts bolstered its media and telecommunications practice and Hogan Lovells added a veteran capital markets practitioner in London.

  • January 17, 2020

    Ritzen Gives Bankruptcy Attys Comfort With Final Orders

    When the U.S. Supreme Court ruled Tuesday that orders denying relief from stays in a Chapter 11 case are final orders that must be appealed immediately, it gave bankruptcy attorneys clarity that a court's ruling is indeed final and the ability to proceed with confidence that early decisions can't be overturned later.

  • January 17, 2020

    SEC Fights Bahamian Adviser's Bid To Kill Fraud Suit

    The U.S. Securities and Exchange Commission urged a Colorado federal court to keep alive its suit accusing Mediatrix Capital Inc. of defrauding investors out of millions through unregistered offerings and stolen funds, arguing that contrary to the adviser's argument, the investment funds they sold do constitute securities.

  • January 17, 2020

    Taxation With Representation: Skadden, Simpson, White

    In this week’s Taxation with Representation, Visa acquires fintech company Plaid for $5.3 billion, a Blackstone real estate trust makes a $4.6 billion play for two Vegas hotels, and Saudi Aramco’s IPO raises another $3.8 billion.

  • January 17, 2020

    Crypto Market Maker Sues Fr8 Token Issuer For $1.8M

    A global cryptocurrency market maker and an investor filed a $1.8 million lawsuit in New York federal court accusing Fr8 Network Inc. and two principals of fleecing them with a fraudulent token offering.

  • January 17, 2020

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen a tech company sue an online football stock exchange, a number of seafood distributors and their insurers sue cargo company Maersk, and several hotels add to Visa and MasterCard's swipe-fee class action woes. Here, Law360 looks at these claims and more. 

  • January 16, 2020

    Real Estate Rumors: Firmspace, GDF, Systra

    Firmspace has reportedly leased nearly 35,000 square feet in Chicago, GDF Properties is said to have paid $6.3 million for two Florida industrial buildings and Systra is reportedly leasing 14,295 square feet in New York.

  • January 16, 2020

    Zeichner Ellman Wants $150M Malpractice Suit Tossed In NY

     A New York federal court should toss a legal malpractice suit that contends a law firm schemed to wrongfully divert more than $150 million from the assignee of a trust fund, as the assignee fails to substantiate its claim, the firm has contended.

  • January 16, 2020

    Highland Capital Says Ch. 11 Trustee Worst Possible Option

    Bankrupt investment firm Highland Capital Management told a Texas judge late Wednesday that the appointment of a Chapter 11 trustee to manage the debtor during its bankruptcy case would be the worst possible option in the proceedings and is unnecessary given recent changes in the company's oversight.

  • January 16, 2020

    Ex-REIT Exec Tells Wary 2nd Circ. Witness Hid Payment Offer

    The Second Circuit looked tempted Thursday to erase the conviction of ex-real estate investment trust chief financial officer Brian Block, after his lawyer accused a key trial witness of hiding an offer of financial support that came from a friend who filed a whistleblower complaint against Block's former company.

  • January 16, 2020

    Outspoken SEC Commissioner Jackson To Leave Agency

    U.S. Securities and Exchange Commissioner Robert Jackson, who has vigorously opposed many of the agency's deregulatory moves that he considered a threat to investor protection, said Thursday he will leave office on Feb. 14 to teach at New York University School of Law.

  • January 16, 2020

    SEC Urges Justices Not To Cuff Its Disgorgement Power

    The U.S. Securities and Exchange Commission told the U.S. Supreme Court that closing off the agency's ability to obtain disgorgement in federal court cases would throw a wrench into enforcing securities law, pushing back against challengers that argue such relief strays beyond the bounds of the agency's statutory authority.

  • January 16, 2020

    Investor Elliott To Snub Capgemini's New €3.7B Bid For Altran

    Activist investor Elliott declared Thursday that it will not tender its Altran shares to the company's suitor Capgemini, even after Capgemini's buyout offer was sweetened to €3.73 billion ($4.15 billion), and added it may continue to build its stake in the engineering consulting firm.

  • January 16, 2020

    Debevoise Helps As HarbourVest Wraps Up New $2.61B Fund

    Boston-based HarbourVest Partners, working with Debevoise & Plimpton, has closed its latest fund after receiving $2.61 billion from limited partners, with plans to target private equity, growth equity and venture capital investments in businesses based in North America, the firm said Thursday.

  • January 15, 2020

    Tenn. Businessman Exits Pension Theft Suit In Pa.

    A Pennsylvania federal judge on Wednesday allowed a Tennessee businessman to exit a lawsuit claiming one of his business partners illegally drained millions of dollars from a central Pennsylvania fire brick manufacturer’s pension plan.

  • January 15, 2020

    5th Circ. Says Mitigation Not 'Complete Defense' In IP Row

    The publisher of an energy industry newsletter will get another chance to collect damages in a copyright infringement dispute with Kayne Anderson Capital Advisors LP, after the Fifth Circuit on Wednesday determined a jury had been wrongly instructed about how efforts to mitigate the damage should have been taken into account.

  • January 15, 2020

    3 Firms Shape Rayonier's $554M Pope Resources Buy

    Real estate investment trust Rayonier said Wednesday it will buy Pope Resources to build out its timberland holdings in a deal led by three law firms that values the limited partnership at $554 million.

  • January 15, 2020

    Cornell Calls Ex-Workers' Bid To Revive ERISA Claim 'Fanciful'

    Cornell University has asked a New York federal judge not to give its workers a second chance to pursue a challenge to the record-keeping fees paid by their retirement plans, saying the workers didn't have the "silver bullet" they needed to get that claim back on track.

  • January 15, 2020

    Simpson Thacher Leads Lexington In $14B PE Secondary Fund

    Lexington Partners, advised by Simpson Thacher, revealed Wednesday it raked in $14 billion for its latest secondary fund, significantly surpassing the firm’s fundraising target and its previous secondary fund. 

  • January 14, 2020

    Netherlands, Australia Lead As Securities Deal Hotspots

    Australia continues to be a hotbed for securities class action litigation outside of North America, but the Netherlands is where investors have secured some of the biggest settlements of all time in an overseas market, according to a new report from Institutional Shareholder Services Inc.'s Securities Class Action Services.

  • January 14, 2020

    Ex-Raydon Worker Pushes For Sanctions In ERISA Suit

    A former Raydon employee urged a Florida federal judge Tuesday to throw out testimony from two accountants in a proposed class action over a $60.5 million employee stock ownership plan transaction, saying the company failed to disclose the witnesses before using them to bolster its opposition to class certification.

  • January 14, 2020

    NY Court Flips Ex-Touradji Portfolio Managers' $91M Verdict

    A New York appellate panel upended a $91 million trial verdict on Tuesday won by former portfolio managers for Touradji Capital Management LP in a compensation dispute with the commodities hedge fund.

  • January 14, 2020

    BlackRock Joins Finance Industry's Retreat From Coal

    BlackRock announced Tuesday it will sharply curtail coal investment and increasingly factor climate change and sustainability into its investment decisions, becoming the latest global financial company to pursue such a shift amid increasing investor, activist and regulatory pressure.

  • January 14, 2020

    PBGC's First Merger Action Saves Pinched NY Union Fund

    The Pension Benefit Guaranty Corp. said Tuesday that it used its authority to facilitate a plan merger under the Multiemployer Pension Reform Act of 2014 for the very first time, blessing a tie-up between two New York union locals' pension funds. 

  • January 14, 2020

    Ex-1 Global Capital CFO Gets 5 Years In $287M Scheme

    A former executive of cash advance business 1 Global Capital was sentenced Tuesday in Florida federal court to five years in prison for his role in a $287 million securities fraud scheme involving “payday” loans.

Expert Analysis

  • FIRREA Remains Potent Civil Fraud Enforcement Tool

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    Last year, three court decisions addressing the Financial Institutions Reform, Recovery and Enforcement Act's civil monetary penalties provision — two at the final judgment stage and one at the pleadings stage — expanded FIRREA jurisprudence and remind us why this statute cannot be ignored, say attorneys at Morgan Lewis.

  • What SEC's Accredited Investor Proposal Means For PE Funds

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    A recent proposal from the U.S. Securities and Exchange Commission would allow more investors to participate in private offerings, but divisions at the SEC and among investment advocates suggest further debate may be ahead before a finalized rule emerges, say Michael Gold and Nicholas Stewart at Saul Ewing.

  • How Associate Life Has Evolved Over The Past Decade

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    During the last 10 years, the need to embrace change was fundamental for law firms, and that change affected associates in many ways — most, but not all, for the better, says Brad Kaufman, co-president of Greenberg Traurig.

  • Justices Seem Keen To Solve ERISA Case's Article III Question

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    Oral arguments in Thole v. U.S. Bank suggested the U.S. Supreme Court is willing to explore whether Employee Retirement Income Security Act plaintiffs have constitutional standing to sue over an adequately funded plan — even though the lower courts sidestepped the issue, say attorneys at King & Spalding.

  • 3rd Circ. Sheds Light On Ch. 11 Liability Release Approval

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    In Millennium Lab, the Third Circuit recently upheld the Delaware bankruptcy court's authority to approve a Chapter 11 plan containing nonconsensual liability releases, offering guidance on the factors courts may consider in deciding whether to approve them, says Jane VanLare of Cleary.

  • 2019 Trends In DOJ Civil Health Care Fraud Cases

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    Last year, the U.S. Department of Justice maintained aggressive enforcement efforts in the health care industry, again relying heavily on the False Claims Act, but the agency is also taking steps to guide those efforts toward fairness and consistency, say attorneys at Mintz.

  • 2nd Circ. Pension Liability Ruling Is A Big Win For Employers

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    In National Retirement Fund v. Metz Culinary Management, the Second Circuit recently held that the pension’s lower interest rate violated the Employee Retirement Income Security Act's withdrawal liability standards, which will benefit employers in an area of law that tends to favor funds, say Robert Perry and Todd Girshon of Jackson Lewis.

  • Series

    Judging A Book: Dyk Reviews 'Democracy And Equality'

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    In their new book "Democracy and Equality: The Enduring Constitutional Vision of the Warren Court," Geoffrey Stone and David Strauss provide valuable context for U.S. Supreme Court decisions under Chief Justice Earl Warren that have profoundly affected the country, but their overly protective attitude sometimes obscures reality, says Federal Circuit Judge Timothy Dyk.

  • SEC's Audit Proposal May Bolster Compliance, Competition

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    A newly proposed rule from the U.S. Securities and Exchange Commission on public companies' relationships with their auditors could make the current auditor independence framework easier to comply with, and mitigate competition pressure from issues that should not reasonably threaten an auditor’s objectivity, say Charles Smith and Andrew Fuchs at Skadden.

  • 7 Insider Tips For Working With In-House Counsel

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    For outside firms wondering how to best support busy in-house lawyers, several practices can help navigate critical legal issues and novel business challenges while strengthening the working relationship, says Virginia Hudson, associate general counsel at Capital One.

  • 50 Years Later, Interpretive Challenges Remain For RICO

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    In the 50 years since the Racketeer Influenced and Corrupt Organizations Act was passed, courts' attempts to clarify the statute have had some success, but many interpretive dilemmas remain unresolved, says Randy Gordon of Barnes & Thornburg.

  • Opinion

    States Should Not Follow ABA On Attorney Conduct Rules

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    Because the American Bar Association's new rule on diversity continues to use the Model Rules of Professional Conduct as a cultural bludgeon, states should create independent codes limited to constitutionally valid purposes of attorney regulation, says Bradley Abramson of Alliance Defending Freedom.

  • The Making And Unmaking Of The Volcker Rule

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    As the late Paul Volcker's efforts to rein in banks after the financial crisis come under attack, now is a good time to revisit how his namesake rulemaking came to pass, and consider the risks of relaxing the limits on bank proprietary trading, say former Michigan Sen. Carl Levin and former Senate counsel Tyler Gellasch.

  • What Federal Cannabis Bills Mean For Private Lenders

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    If approved by Congress, the Marijuana Opportunity Reinvestment and Expungement Act and the Secure and Fair Enforcement Banking Act could provide private lenders with cannabis investment opportunities, increased competition, and a solid entry point into this lucrative market, say Tae Kim and Olivia Durnell at Geraci.

  • How Courts And Litigants Can Benefit From Special Masters

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    As we approach the first anniversary of the American Bar Association's adoption of guidelines for the appointment and use of special masters in civil litigation, retired U.S. District Judge Shira Scheindlin, now at Stroock, explains how special masters can help parties and courts with faster decision-making and subject matter expertise.