Asset Management

  • March 08, 2024

    Trump 'An Existential Threat' To Rule Of Law, Attys Warn

    Former President Donald Trump represents an "existential threat" to democracy and the rule of law, legal experts said Friday at a conference on white collar crime in San Francisco.

  • March 08, 2024

    DOJ Eyes FCPA For New Whistleblower Rewards Program

    U.S. Department of Justice officials on Friday signaled a renewed emphasis on fighting foreign corruption, saying its planned whistleblower rewards program should prove useful in Foreign Corrupt Practices Act cases against private companies, and warned companies against running afoul of new rules barring the sale of personal data to foreign adversaries of the U.S.

  • March 08, 2024

    AI-Focused Chip Provider Astera Labs Tees Up $507M IPO

    Astera Labs Inc., a provider of connectivity chips designed to boost the potency of artificial-intelligence software, on Friday set a price range on an estimated $507 million initial public offering, represented by Goodwin Procter LLP and underwriters counsel Simpson Thacher & Bartlett LLP.

  • March 08, 2024

    SEC Crypto Target Can't Send Securities Query To 11th Circ.

    A Florida federal judge has declined to send the question of whether crypto transactions on public exchanges are securities to the Eleventh Circuit after rejecting a bid to toss a securities enforcement case against an alleged $37 million cryptocurrency pump-and-dump scheme.

  • March 08, 2024

    4 Severance Cases Stemming From Musk's X Corp. Takeover

    A recently filed suit from four executives alleging Elon Musk cheated them out of severance pay adds to the legal fallout that Musk and X Corp. are facing in the aftermath of the tech billionaire's $44 billion acquisition of the company formerly known as Twitter.

  • March 08, 2024

    IRS Leaker Should Be Deposed Without All Docs, Judge Says

    Attorneys for a hedge fund executive should question the former IRS contractor who admitted to stealing the tax returns of him and others, even though the IRS hasn't finished producing evidence in the case seeking to hold the agency responsible for the leak, a Florida federal judge said Friday.

  • March 08, 2024

    BakerHostetler Hires Tax Partner From Moses & Singer

    BakerHostetler has added a partner from Moses & Singer LLP to its tax practice group and private wealth planning team.

  • March 08, 2024

    Ex-Private Funds Leader With Perkins Coie Jumps To MoFo

    The former chair of Perkins Coie LLP's private investment funds group has jumped to Morrison Foerster LLP in Denver.

  • March 08, 2024

    Activist Battle Tips, 'Hair-Raising' Red Flags Detailed At Tulane

    Companies attending Tulane University Law School's annual Corporate Law Institute conference got distinctive insights into how they can responsibly fend off activist investor attacks, heard diverging views about activists' motivations, and were warned about potential red flags in board members' pasts. 

  • March 08, 2024

    Yale Urges 2nd Circ. To Back Zero-Damages ERISA Jury Win

    Yale University told the Second Circuit there's no need to scrap a jury verdict denying damages for a group of employees who claimed their $5.5 billion retirement plan was burdened with high recordkeeping fees, arguing that no error was made on jury instructions to warrant a redo.

  • March 08, 2024

    Slaughter And May Guides PE Firm's £432M Wealth Firm Buy

    Pollen Street Capital said Friday that its subsidiary has agreed to fully buy out Mattioli Woods, a wealth management company, for approximately £432 million ($556 million), as the U.K. private equity investor looks to capture a slice of the lucrative sector.

  • March 08, 2024

    Taxation With Representation: Fried Frank, Latham

    In this week's Taxation with Representation, Viavi acquires Spirent, Cadence Design Systems purchases Beta Cae Systems International, and United Rentals buys Yak.

  • March 07, 2024

    Judges Say Facing Threats And Vitriol Now Part Of The Job

    Federal judges spoke Thursday about the challenges of the profession in the 21st century, describing how they've either received threats or know of warnings against colleagues, with one jurist saying she received 11 death threats during her first three months on the bench.

  • March 07, 2024

    Wells Fargo, Goldman Escape Some Climate Proxy Proposals

    The Goldman Sachs Group Inc. and Wells Fargo & Co. may exclude from their upcoming proxy statements shareholder proposals calling for reports on their clients' climate change commitments, according to the U.S. Securities and Exchange staff, which also wouldn't let Wells Fargo or Texas Instruments Inc. escape including separate labor and human rights-related proposals.

  • March 07, 2024

    Investment Adviser Can't Exit Suit Over Stolen Clients

    A Florida judge said Thursday she would not allow a retired investment adviser to exit a suit by Mercer Global Advisors accusing him of breaching his employment agreement by conspiring with his wife to steal clients, ruling that there was clearly a factual dispute that should go to trial.

  • March 07, 2024

    Axos Bank Sued Over Money Market Account Reclassification

    Axos Bank has been hit with a proposed class action in California federal court, alleging that it reclassified customers' high-yield money market accounts into lower-yield investment accounts without informing them.

  • March 07, 2024

    Kroger, Albertsons Want Shoppers' Suit To Await FTC Case

    Kroger and Albertsons told a California federal judge Thursday that the Federal Trade Commission's challenge to their $24.6 billion merger should take precedence over a private lawsuit they want paused while the FTC case plays out in Oregon federal court.

  • March 07, 2024

    Chancery Clears Way For March 22 Trump Media SPAC Vote

    Efforts to take former President Donald Trump's Truth Social media platform public have continued moving ahead after Delaware's Court of Chancery rejected a full preliminary injunction sought by a former executive of the blank-check company involved before a key vote on the take-public merger.

  • March 07, 2024

    Hy-Vee Beats Ex-Workers' 401(k) Fee Suit

    An Iowa federal judge granted a win Thursday to Hy-Vee Inc. in a class action accusing it of failing to sufficiently lower its retirement plan's recordkeeping fees, saying the supermarket chain showed it did its due diligence to make sure it didn't run afoul of federal benefits law.

  • March 07, 2024

    $61M Deal Gets Final OK In GE In-House 401(k) Fund Suit

    A Massachusetts federal judge granted final approval Thursday to a $61 million settlement ending a lawsuit from current and former workers accusing General Electric of mismanaging their retirement savings, signing off on a deal that comes after six years of litigation and includes $21.5 million in attorney fees and expenses.

  • March 07, 2024

    Deals Rumor Mill: Reddit, Cisco, LeBron James-PGA Tour

    Reddit's IPO could fetch a $6.5 billion valuation, European antitrust regulators are likely to approve Cisco's $28 billion acquisition of cybersecurity firm Plunk, and LeBron James is among parties interested in investing up to $3 billion combined to support the PGA Tour. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • March 07, 2024

    Brafman Attys Known For Repping Big Names Open Firm

    A trio of former Brafman & Associates PC lawyers with a history of representing high-profile figures like former Goldman Sachs executive Roger Ng have launched their own criminal defense practice in Manhattan.

  • March 07, 2024

    An M&A Rebound? Nowhere In Sight, Tulane Panelists Say

    High interest rates, regulatory heat and the low availability of debt continue to delay both megadeals and the broader mergers and acquisitions rebound that deal-makers had been hoping for, attendees heard Thursday at the annual Corporate Law Institute conference at Tulane University Law School.

  • March 07, 2024

    Fed Working To Beef Up Supervision 'Rulebook,' Powell Says

    Federal Reserve Chair Jerome Powell told senators Thursday that efforts are underway to strengthen bank supervision following last year's failures of Silicon Valley Bank and other regional lenders, including the development of a "new rulebook" for more robust examiner action.

  • March 07, 2024

    Activist Caligan Sets Sights On Anika Therapeutics Again

    New York-based activist investor Caligan Partners LP disclosed a nearly 10% stake in Anika Therapeutics and nominated two director candidates, a move that comes a year after the hedge fund urged the biotech company to consider "urgent changes" to its operations and structure.

Expert Analysis

  • Compliance Risk After SEC Warning Against 'AI Washing'

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    The U.S. Securities and Exchange Commission has begun looking into the way public companies disclose how they use artificial intelligence to investors and it is likely to become an enforcement priority, meaning companies and their compliance programs should take steps now to avoid regulatory sanctions and shareholder lawsuits, say attorneys at Bracewell.

  • Texas Banking Brief: All The Notable Legal Updates In Q4

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    Among the most noteworthy developments in the Texas banking sphere in the last quarter of 2023 were the Texas Department of Banking's extension of the state banking commissioner's authority, a recommendation to implement an updated ransomware self-assessment tool, and ongoing litigation in the state involving the Consumer Financial Protection Bureau, says Patrick Hanchey at Alston & Bird.

  • Cybersecurity Issues For Financial Industry To Track In 2024

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    In 2024 financial institutions will confront new federal, state and industry regulations around cybersecurity that require additional procedures, enhanced proactive security measures, and timely disclosure of security incidents, say Alex Koskey and Matt White at Baker Donelson.

  • 5 Recent Developments Family Offices Are Watching In 2024

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    Although family offices have long been exempt from many of the more onerous regulations and reporting requirements governing U.S. investment advisers and asset managers, recent amendments to federal rules will have an impact on how family offices invest and operate in 2024, say attorneys at Morgan Lewis.

  • How State AGs Process And Prioritize Consumer Complaints

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    Recent state attorneys general actions illustrate how their offices triage, monitor and respond to consumer complaints — and why businesses need to be proactive in addressing these issues as they arise, say Meghan Stoppel and Hannah Cornett Land at Cozen O'Connor.

  • Charting The Course For Digital Assets In 2024

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    Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.

  • The Most-Read Legal Industry Law360 Guest Articles Of 2023

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    A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.

  • What The 2023 Bank Failures Taught Us, And What's To Come

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    As 2023 draws to a close, it's apparent that the bank failures this past spring sparked a seismic shift in the regulatory and supervisory landscape for banking organizations, and the consequences are still continuing to be felt throughout the financial sector as we head into 2024, say attorneys at Morgan Lewis.

  • How SEC And NY Cyber Reporting Rules Affect Key Industries

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    The new U.S. Securities and Exchange Commission and New York State Department of Financial Services cybersecurity disclosure requirements, and their competing obligations, reveal the increasing complexity for organizations evaluating and reacting to cybersecurity incidents — particularly those in the healthcare and financial services industries, say attorneys at Manatt.

  • Attorneys' Busiest Times Can Be Business Opportunities

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    Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.

  • A Difficult Year For CRE, But Future May Be Brighter

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    2023 was a challenging year for the commercial real estate industry, marked by significant uncertainty, but market pressure and signs of rising interest rates provide some reasons to be cautiously optimistic for the year ahead as pandemic headwinds and gridlock fade away, say attorneys at Ropes & Gray.

  • In The World Of Legal Ethics, 10 Trends To Note From 2023

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    Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.

  • Strategies For Wire Fraud Prevention As Risk Is On The Rise

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    Wire transfer fraud is increasingly affecting investment managers, nonbank fintech companies and their clients, but there are steps financial institutions can take to mitigate this increasing risk, like testing cybersecurity effectiveness and sending fake phishing emails, says Casey Jennings at Seward & Kissel.

  • Volume-Based Transaction Pricing Proposal Raises Questions

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    A rule recently proposed by the U.S. Securities and Exchange Commission, which would prohibit securities exchanges from offering volume-based transaction pricing for agency or riskless principal orders in certain stocks, is meant to address competitive concerns — but there are reasons to question the logic behind this proposal, say attorneys at Sidley.

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