Asset Management

  • October 23, 2024

    Investor Tied To Texas AG Seeks Investigation Info From Feds

    Real estate investor Nate Paul is looking to get more information from federal prosecutors about their investigation into federal fraud charges he's facing — topics that featured prominently during the failed impeachment of Texas Attorney General Ken Paxton — according to court filings from U.S. Attorney's Office employees.

  • October 23, 2024

    3 Things To Know About Proposed OTC Contraception Regs

    The Biden administration's proposal to require private health insurers to pick up the cost of over-the-counter contraception could increase access for an estimated 52 million women. Here are three things to know about the newly proposed regulations.

  • October 23, 2024

    Chancery Mulls Call To Toss $7B Focus Financial Merger Suit

    An attorney for private equity firm Stone Point Capital told Delaware's chancellor Wednesday that there was no control group formed before the $7 billion August 2023 go-private merger between Focus Financial Partners Inc. and Clayton Dubilier & Rice LLC, and that a ruling otherwise would "lower the bar" for control allegations.

  • October 23, 2024

    SEC's Peirce Calls For Compliance Advisory Committee

    The U.S. Securities and Exchange Commission's Hester Peirce on Wednesday detailed her vision for a compliance advisory committee that would give the agency a way to collect and evaluate concerns about new rules from in-house compliance staff.

  • October 23, 2024

    Feds Say Conn. Oil Trader's Ailing Brother Deserves Prison Time

    A Connecticut businessman who worked with his brother and others to run an oil industry bribery scheme in Brazil should go to prison despite his bladder cancer diagnosis, the government said, arguing incarceration is necessary "to reflect the seriousness of the offense, and to afford adequate deterrence."

  • October 23, 2024

    How FINRA Filings Led To A $29M Defamation Verdict In Pa.

    Two firms that specialize in injury, employment and fraud matters teamed up for an unusual case that posed a tricky task: boiling down the technicalities of securities law in order to convince a Pennsylvania state jury that regulatory filings were misused for defamation.

  • October 23, 2024

    Veteran Boies Schiller Atty Starts Next Chapter At Sterlington

    After nearly a quarter of a century at Boies Schiller Flexner LLP, litigation attorney Jonathan Sherman says he is ready to begin his third act helping Sterlington PLLC build out a competitive litigation department.

  • October 23, 2024

    Roche CEO Says Novo-Catalent Deal Should Be Blocked

    The CEO of Swiss pharmaceutical company Roche injected himself into the controversy surrounding Novo Holdings' planned $16.5 billion acquisition of Catalent on Wednesday, stating that he thinks antitrust authorities should block the deal due to its anticompetitive implications.

  • October 23, 2024

    Top Frontier Investor Calls $20B Price Tag A 'Steal' For Verizon

    Frontier Communications shareholder Glendon Capital Management sent a letter to Frontier's board on Wednesday stating the company is currently worth at least $26 billion, 30% higher than the $20 billion value implied by Verizon's planned buyout, as Glendon aims to prevent Verizon from "walking away with a steal."

  • October 23, 2024

    AirAsia's Planned SPAC Merger Will Not Take Place

    The parent company of Malaysian airline AirAsia on Wednesday called off its planned special purpose acquisition company merger that would have resulted in the business being publicly listed in the U.S., while also disclosing plans for a capital reduction to strengthen its financial position.

  • October 23, 2024

    2nd Circ. Backs Early Wells Fargo Win In $100M RMBS Case

    The Second Circuit on Wednesday approved an early win for Wells Fargo in a lawsuit brought by Commerzbank AG alleging it lost $100 million investing in residential mortgage-backed securities, saying the German lender didn't have standing to sue.

  • October 22, 2024

    Hertz Board Panel Takes Control Of Shareholder Buyback Suit

    Delaware's chancellor has granted a Hertz Global Holdings Inc. board special committee's request to investigate stockholder-filed derivative claims challenging the fairness of $4 billion in stock buybacks in 2022 that vaulted a private equity-based shareholder into a controlling position, in a ruling that also sidelined related direct damage claims.

  • October 22, 2024

    Morgan Stanley Investment Management Clinches $2B Fund

    Morgan Stanley Investment Management, advised by Simpson Thacher & Bartlett LLP, on Tuesday announced that it wrapped its second tactical value fund and affiliated funds after securing roughly $2 billion of committed capital.

  • October 22, 2024

    BofA, Others Say Bond-Rigging Suit Still Can't Prove Conspiracy

    Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co. and others have argued the amended complaint in a recently revived securities suit accusing them of conspiring to rig corporate bonds fails to adequately allege a "farfetched" antitrust conspiracy.

  • October 22, 2024

    Starbucks Shareholder Sues Execs Over $890M Buyback

    A Starbucks Corp. shareholder on Monday accused the coffee giant's former CEO and current and former company directors — including Microsoft CEO Satya Nadella — of misleading investors about future growth and revenues, resulting in a stock buyback program that was allegedly inflated by more than $227 million.

  • October 22, 2024

    Day Trader Seeks Early Win In Verifone Insider Trading Suit

    A day trader moved for an early win in a U.S. Securities and Exchange Commission insider trading case alleging the trader was tipped off by a former Francisco Partners consultant about the firm's $3.4 billion purchase of Verifone Systems Inc., arguing there is no evidence that he knew he received material nonpublic information, let alone traded on it.

  • October 22, 2024

    A Piece Of Baseball Lore Went Over The Fence And Into Court

    Los Angeles Dodgers slugger Shohei Ohtani's 50th home run of the season caused a mad dash in the stands for a piece of baseball history. That melee has carried over into Florida state court, where at least three people are claiming ownership of the ball and its seven-figure price tag.

  • October 22, 2024

    Latham Leads Hyundai's Indian Biz On Record $3.3B IPO

    Hyundai Motor India Ltd. dipped in debut trading Tuesday after it raised India's largest ever initial public offering at $3.3 billion, represented by Latham & Watkins LLP and Shardul Amarchand Mangaldas & Co., marking a key milestone in the Korean automaker's overseas expansion.

  • October 22, 2024

    How Law Firms Get And Keep Elite Status

    For decades, a handful of New York-based law firms thoroughly dominated the national consciousness when it came to power, profitability and prestige. But in today's legal market, increased movement of partners and clients from one firm to the next has begun to shake things up and create opportunities for go-getters to ascend the ranks.

  • October 22, 2024

    The 2024 Prestige Leaders

    Check out our Prestige Leaders ranking, analysis and interactive graphics to see which firms stand out for their financial performance, attractiveness to attorneys and law students, ability to secure accolades and positive legal news media representation.

  • October 22, 2024

    Akin-Led Mubadala Capital Wraps 4th Fund At $3.1B

    Abu Dhabi-based Mubadala Capital, advised by Akin Gump Strauss Hauer & Feld LLP, on Tuesday revealed that it clinched its fourth private equity fund after securing $3.1 billion of commitments from investors.

  • October 21, 2024

    SEC To Focus On Advisers' Investment Outsourcing In '25

    U.S. Securities and Exchange Commission examiners are poised to generally stay the course with their exam priorities in the coming year, with a particular focus on investment advisers that outsource their investment functions, according to a report released Monday.

  • October 21, 2024

    NYSE, Cboe Win SEC Approval For Bitcoin ETP Options

    The U.S. Securities and Exchange Commission has given the New York Stock Exchange and Cboe Global Markets permission to list and trade options of certain bitcoin exchange-traded products, following the long-anticipated approval of the ETPs themselves at the start of this year.

  • October 21, 2024

    SEC, CFTC Chairs Talk Crypto, AI & Wall Street Texting Sweep

    The leaders of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission appeared before an audience of top financial professionals Monday to discuss the future of cryptocurrency and artificial intelligence regulations and to defend against accusations that ongoing probes of brokers' use of off-channel communications were too harsh.

  • October 21, 2024

    3rd Circ. Urged To Rethink $60M Moroccan Hotel Award Fight

    An investment group wants the Third Circuit to reconsider its decision reviving a dispute over the enforcement of a $60 million arbitral award favoring the current owner of a luxury hotel in Casablanca, saying the ruling is unprecedented and disregards well-established Delaware law.

Expert Analysis

  • Opinion

    This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

  • Series

    Playing Diplomacy Makes Us Better Lawyers

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    Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.

  • Applying High Court's Domestic Corruption Rulings To FCPA

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    After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q3

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    In a relatively light few months for banking legal updates in New York, the state Department of Financial Services previewed its views on banking sector artificial intelligence use via insurer guidance, and an anti-money laundering enforcement action underscored the importance of international monitoring processes, say Eric McLaughlin and Dana Bayersdorfer at Davis Polk.

  • Series

    Collecting Art Makes Me A Better Lawyer

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    The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.

  • Del. Dispatch: Cautionary Tales Of 2 Earnout Effort Breaches

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    The Delaware Court of Chancery's tendency to interpret earnout provisions precisely as written, highlighted in two September rulings that found buyers breached their shareholder obligations when they failed to make reasonable efforts to hit certain product development milestones, demonstrates the paramount importance of precisely wording these agreements, say attorneys at Fried Frank.

  • Takeaways From TOTSA Settlement And Critical CFTC Dissent

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    The U.S. Commodity Futures Trading Commission's recent settlement with TOTSA highlights the agency's commitment to enforcing market integrity and deterring manipulative practices, while Commissioner Caroline Pham's dissent to the settlement spotlights the need for transparency and consistency in enforcement actions, say attorneys at Davis Wright.

  • Litigation Inspiration: Honoring Your Learned Profession

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    About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.

  • Payward And The Secondary Crypto Transaction Confusion

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    Following orders in cases against Coinbase and Binance, the recent California federal court ruling in U.S. Securities and Exchange Commission v. Payward raises even more questions about regulation of secondary transactions involving crypto-assets, as it tries to sidestep fundamental flaws in the SEC's legal theories, say attorneys at Cahill Gordon.

  • Opinion

    AI May Limit Key Learning Opportunities For Young Attorneys

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    The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.

  • Key Takeaways From DOJ's New Corp. Compliance Guidance

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    The U.S. Department of Justice’s updated guidance to federal prosecutors on evaluating corporate compliance programs addresses how entities manage new technology-related risks and expands on preexisting policies, providing key insights for companies about increasing regulatory expectations, say attorneys at Debevoise.

  • Basel Endgame Rules: A Change Is Coming

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    The Federal Reserve Board's recently announced recalibration of the Basel endgame proposal begins a critical chapter in the evolution of not only the safety and soundness of U.S. banks, but also of banks' abilities to lend and support American businesses and consumers, say attorneys at Davis Wright.

  • Series

    Round-Canopy Parachuting Makes Me A Better Lawyer

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    Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.

  • SEC Settlement Holds Important Pay-To-Play Lessons

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    The U.S. Securities and Exchange Commission’s recent fine of an investment adviser, whose new hire made a campaign contribution within a crucial lookback period, is a seasonable reminder for public fund managers to ensure their processes thoroughly screen all associates for even minor violations of the SEC’s strict pay-to-play rule, say attorneys at Lowenstein Sandler.

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