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Asset Management
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December 18, 2025
Compliance Chiefs' Enforcement Risks Didn't Ease Up In 2025
The landscape for chief compliance officers' liability might relax a bit in the coming years as experts anticipate the Trump administration will rely less on a "failure to supervise" theory of liability that financial regulators used to target one chief compliance officer this year.
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December 18, 2025
Deerpath Capital Clinches 7th Fund Above $2B Target
New York-based Deerpath Capital Management LP, advised by Purrington Moody Weil LLP, on Thursday revealed that it closed its seventh fund after exceeding its $2 billion equity target, which will be used to finance private equity-backed businesses across a range of industries.
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December 17, 2025
JPMorgan Ex-Advisers Sue Over Alleged Race And Sex Bias
JPMorgan Chase & Co. and its broker-dealer unit are facing claims they discriminated against two Black women who had worked for the companies as financial advisers, giving them unfavorable branch assignments and leave-related client reassignments while later forcing them to take lower-paying remote jobs they eventually had to quit.
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December 17, 2025
SEC Again Flags Adviser Testimonials, Ratings In Marketing
The U.S. Securities and Exchange Commission's Division of Examinations has again flagged advisers' disclosures regarding their use of testimonials, endorsements and third-party ratings in advertisements, saying staff have observed noncompliance with commission rules in those areas.
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December 17, 2025
2 Firms Guide $192M Northern California Bank Merger
Northern California's Community West Bank and United Security Bank on Wednesday announced plans to merge by the middle of next year in a $192 million deal guided by Otteson Shapiro LLP and Stuart Moore Staub.
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December 17, 2025
10th Circ. Panel Restores $2.9M FINRA Award Against Adviser
A Tenth Circuit panel on Wednesday reinstated a $2.9 million Financial Industry Regulatory Authority arbitration award against a financial adviser who allegedly undermined a firm she worked for, ruling that she waived any objections she had to arbitrating with the plaintiffs before FINRA.
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December 17, 2025
Lighting Co. Strikes Deal In 401(k) Forfeiture, Tobacco Fee Suit
An automotive lighting company told an Illinois federal court Wednesday that it has settled an ex-worker's proposed class action claiming the business mismanaged forfeited 401(k) funds and failed to inform workers who used tobacco how to avoid paying an extra health plan fee.
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December 17, 2025
Chancery OKs $10M Fat Brands Settlement, Defers Fees
A judge in the Delaware Chancery Court on Wednesday approved a proposed settlement resolving two long-running shareholder derivative suits against Fat Brands Inc. and its controlling stockholder, finding that the deal delivers immediate cash, targeted governance reforms and a realistic recovery in light of substantial litigation and collectibility risks, while reserving judgment on a disputed request for attorney fees.
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December 17, 2025
Fenwick-Led Healthcare Platform Tebra Secures $250M
Electronic healthcare platform Tebra, led by Fenwick & West LLP, on Wednesday revealed that it secured $250 million in new equity and debt financing, which will be used for research and development in artificial intelligence and automation.
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December 17, 2025
Coursera, Udemy Merging Into $2.5B Online Education Co.
Online education company Coursera said Wednesday it has agreed to buy rival Udemy in an all-stock deal valuing the combined company at about $2.5 billion, as the firms look to scale their platforms amid rising demand for job-ready skills driven by artificial intelligence.
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December 17, 2025
UWM Nabs MSR-Focused REIT In $1.3B All-Stock Deal
Greenberg Traurig-advised mortgage lender UWM Holdings Corp. on Wednesday unveiled plans to acquire mortgage servicing rights-focused REIT Two Harbors Investment Corp., led by Jones Day, in an all-stock deal that boasts an equity value of $1.3 billion.
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December 17, 2025
Blackstone Seals $5B Partnership With Israeli Asset Manager
Israel-based asset management and insurance company Phoenix Financial on Wednesday announced that it has entered into a strategic partnership with Simpson Thacher & Bartlett LLP-led private equity giant Blackstone under which the Israeli firm will invest up to $5 billion across a range of credit strategies.
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December 17, 2025
Convicted Oil Trader Will Appeal 15-Month FCPA Sentence
A former Freepoint Commodities LLC and Arcadia Fuels Ltd. oil trader has told a federal court that he intends to appeal his 15-month prison sentence and $300,000 fine after a jury found him guilty of bribing an official at Brazilian oil giant Petroleo Brasileiro SA.
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December 16, 2025
PE-Backed Medline Prices Long-Awaited $6.3B IPO
Private equity-backed medical supplies giant Medline, guided by Simpson Thacher & Bartlett LLP, on Tuesday priced an upsized initial public offering, raising $6.26 billion in what will be the largest IPO of 2025 just weeks before year-end.
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December 16, 2025
4 Big Benefits Policy Moves From 2025's 2nd Half
President Donald Trump signed an order aimed at expanding retirement plans' access to investing in a wider range of assets in 401(k) plans, while the government hit the brakes on the previous administration's effort to expand the definition of who is a fiduciary under federal benefits law. Here are four significant policy moves from the latter half of 2025 that benefits attorneys should know.
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December 16, 2025
$1.4M Deal In Workers' 401(k) Fee Suit Gets Initial OK
A California federal judge gave initial approval to a $1.4 million settlement that would end claims that security firm Allied Universal levied excessive fees on its workers' retirement accounts.
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December 16, 2025
Corporate Transparency Act Is Constitutional, 11th Circ. Says
The Corporate Transparency Act is constitutional because it regulates economic activities with a substantial impact on interstate commerce and doesn't violate protections against unreasonable searches, the Eleventh Circuit said Tuesday, reversing a lower court's decision.
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December 16, 2025
AI Biz Databricks Valued At $134B With Latest Funding Plans
Databricks, led by Fenwick & West LLP, on Tuesday revealed that it is raising around $4 billion in a Series L round that would value the data and artificial intelligence company at $134 billion.
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December 16, 2025
PE Giant KKR Plugs $220M Into Dubai-Based Premialab
Data, analytics and risk management solutions provider Premialab, advised by A&O Shearman, on Tuesday revealed that it received a $220 million growth investment from Gibson Dunn & Crutcher LLP-led private equity giant KKR.
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December 16, 2025
JP Morgan PE Group's Latest Fund Exceeds Target At $1.44B
J.P. Morgan Asset Management's private equity group closed its 12th flagship fund, PEG Global Private Equity XII, above its $1.25 billion target at $1.44 billion, the firm announced Tuesday.
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December 15, 2025
Cencora Pays $5B For Majority Stake Of OneOncology
Pharmaceutical company Cencora Inc. unveiled plans Monday to acquire a majority stake in cancer care company OneOncology for $5 billion, buying interest from private equity shop TPG in a deal built by three law firms.
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December 15, 2025
Investment Firms Nab Quipt Home Medical In $260M Deal
Medical equipment provider Quipt Home Medical Corp. on Monday announced plans to go private after being purchased by a special purpose acquisition vehicle funded by investment firms Kingswood Capital Management and Forager Capital Management in a deal that values the company at $260 million and was built by three law firms.
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December 15, 2025
Catching Up With Delaware's Chancery Court
Litigation in Delaware's Court of Chancery sprawled from a dispute over control of banana plantations along Africa's Congo River to a fight over the late musician Prince's estate last week. Along the way, a court ruling rejected a motion for a quick decision favoring Blue Bell Creameries director and officer calls for liability releases in a tainted ice cream saga that dates to 2015.
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December 15, 2025
11th Circ. Rejects ESOP Managers' Individual Arbitration Push
The Eleventh Circuit on Monday backed a court's decision to keep a lawsuit in Georgia federal court alleging a legal technology company's employee stock ownership plan shares were undervalued in a plan termination, holding that an arbitration provision was unenforceable because it blocked rights under federal benefits law.
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December 15, 2025
Texas, Toronto Stock Exchanges End Trademark Dispute
The Texas Stock Exchange has buried the hatchet with the Toronto Stock Exchange and ended its suit seeking a court finding that the two exchanges' logos are dissimilar.
Expert Analysis
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Series
Quilting Makes Me A Better Lawyer
Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham.
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How Tariffs Can Affect Event Studies In Securities Litigation
When the control period is calm and the event window is stormy — often the case with breaking political or economic developments, like President Donald Trump's recent tariff announcements — traditional event study methodology can increase the risk of misleading conclusions in securities litigation, say economic consultants at NERA.
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What To Expect From 401(k) Plan Alternative Assets Order
The executive order this month making it easier for retirement plans to invest in alternative assets, including private equity, real estate and digital assets, marks a watershed moment for democratizing access to private markets, but the U.S. Department of Labor's anticipated formal rulemaking will also be impactful, say attorneys at Simpson Thacher.
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What 2 Profs Noticed As Transactional Law Students Used AI
After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools present to new transactional lawyers, say professors at Cornell Law School.
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State AGs Are Turning Up The Antitrust Heat On ESG Actions
Recent antitrust developments from red state attorneys general continue a trend of environmental, social and governance scrutiny, and businesses exposed to these areas should conduct close examinations of strategy and potential material risk, say attorneys at Morgan Lewis.
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Crypto Custody Guidelines Buoy Both Banks And Funds
A statement released last month by banking regulators — highlighting risks that the agencies expect banks holding crypto-assets to mitigate — may encourage more traditional institutions to offer crypto-asset safekeeping and thereby offer asset managers more options for qualified custodians to custody crypto-assets for their clients, say attorneys at Dechert.
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Rebuttal
BigLaw Settlements Should Not Spur Ethics Deregulation
A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove to be not merely ineffective, but counterproductive, says Laurel Kilgour at the American Economic Liberties Project.
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What FinCEN's AML Rule Delay Means For Advisers
Even with the Financial Crimes Enforcement Network's statement last month delaying the compliance date for a rule requiring advisers to report suspicious activity, advisers can expect some level of U.S. Securities and Exchange Commission oversight in connection with anti-money laundering compliance, say attorneys at Simpson Thacher.
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Liquidity Rule Compliance Still Vital Even After SEC Dismissal
Despite its recent dismissal of a novel case against Pinnacle Advisors over liquidity rule violations, the U.S. Securities and Exchange Commission has continued to bring enforcement actions involving investment advisers, making compliance with the rule important for registrants, say attorneys at Simpson Thacher.
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5 Ways Lawyers Can Earn Back The Public's Trust
Amid salacious headlines about lawyers behaving badly and recent polls showing the public’s increasingly unfavorable view of attorneys, we must make meaningful changes to our culture to rebuild trust in the legal system, says Carl Taylor at Carl Taylor Law.
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A Look At Justices' Rare Decision Not To Limit Agency Powers
The Supreme Court's recent denial of Alpine's cert petition in its long-running case against the Financial Industry Regulatory Authority sends a strong signal that litigation strategies dependent on the elimination of government agencies merit caution, even from a court that lately hasn't been shy about paring back agency authority, say attorneys at Venable.
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Series
Hiking Makes Me A Better Lawyer
On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag.
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Opinion
Time For Full Disclosure Of Third-Party Funding In MDLs
It is appropriate that the Federal Advisory Committee on Civil Rules is considering a rule to require disclosure of third-party litigation funding in civil litigation — something that is particularly needed in multidistrict litigation, which now comprises more than half of all civil cases in the federal courts, says Eric Hudson at Butler Snow.
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Series
Law School's Missed Lessons: Negotiation Skills
I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, where I've discovered that the process is less about tricks or tactics, and more about clarity, preparation and communication, says Grant Schrantz at Haug Barron.
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Taxpayers Face Tough Choices Under NJ's New Nexus Rules
Though New Jersey’s new rules expanding the commercial nexus that triggers state taxation are likely to be challenged, businesses still need to carefully consider whether it’s best to minimize potential tax by reducing online customer support services or maintain their current instate services and begin paying tax, say attorneys at Husch Blackwell.