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Asset Management
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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.
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July 29, 2025
REIT Shareholders File 'Improper Lending' Suit Against Execs
Two Arbor Realty Trust Inc. shareholders hit several of the real estate investment trust's executives, including its president and CEO Ivan Kaufman, with a derivative suit on Tuesday alleging they made the REIT use "improper lending practices" that saddled the company "with a severely distressed loan portfolio."
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July 29, 2025
UnitedHealth Urges 6th Circ. To Affirm ERISA Preemption
UnitedHealth Group Inc. urged the Sixth Circuit to affirm the dismissal of a man's claims that UnitedHealth defrauded him into reimbursing the health insurance giant for $25,000, arguing that the Employee Retirement Income Security Act of 1974 completely preempts such claims brought under state law.
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July 29, 2025
Ex-TTEC Worker Pushes For Cert. In Expense Coverage Suit
A former TTEC Services employee accusing the customer service technology company of failing to reimburse workers for computers and internet upgrades asked a Colorado federal judge on Monday to certify a proposed class and collective action, claiming Tenth Circuit precedent backs certification prior to a court considering arbitration agreements.
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July 29, 2025
Bit Digital's AI Infrastructure Subsidiary Eyes $125M IPO
Artificial intelligence infrastructure company WhiteFiber Inc. on Tuesday unveiled plans to spin off from its parent company Bit Digital by way of an initial public offering, with plans to raise an estimated $125 million in an offering built by four law firms.
Expert Analysis
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
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Shifting DEI Expectations Put Banks In Legal Crosshairs
The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.
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DOJ Memo Lays Groundwork For Healthy Bank Sponsorships
The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.
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Texas Targets Del. Primacy With Trio Of New Corporate Laws
Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
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How AI May Reshape The Future Of Adjudication
As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
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When Legal Advocacy Crosses The Line Into Incivility
As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.
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Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet
Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.
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Series
Volunteering At Schools Makes Me A Better Lawyer
Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.
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GM Case Highlights New Trends In AI-Related Securities Suits
Bold company statements about artificial intelligence have resulted in a rise in AI-related securities litigation, and a recent Michigan federal court decision in In Re: General Motors Co. Securities Litigation illustrates how courts are analyzing these AI-based claims and applying traditional securities concepts to new technologies, say attorneys at Cooley.
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Attacks On Judicial Independence Tend To Manifest In 3 Ways
Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.
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A Look At Texas Corp. Law Changes Aimed At Dethroning Del.
Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.
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OCC's Digital Embrace Delivers Risk, Opportunity For Banks
As the Office of the Comptroller of the Currency continues to release and seek more information on banks' participation in the crypto-asset arena, institutions may see greater opportunity to pursue digital asset and custody services, but must simultaneously educate themselves on transformations occurring throughout the industry, says Kirstin Kanski at Spencer Fane.
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Series
Law School's Missed Lessons: Appreciating Civil Procedure
If you’re like me, law school’s often complex and theoretical approach to teaching civil procedure may have contributed to an early struggle with the topic, but when seen from a practical perspective, new lawyers may find they enjoy mastering these rules, says Chloe Villagomez at Foster Garvey.
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Calif. Bar Exam Fiasco Shows Why Attys Must Disclose AI Use
The recent revelation that a handful of questions from the controversial California bar exam administered in February were drafted using generative artificial intelligence demonstrates the continued importance of disclosure for attorneys who use AI tools, say attorneys at Troutman.