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Asset Management
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October 17, 2025
Justices Urged To Review Circ. Split Over SEC Disgorgement
A man accused by the U.S. Securities and Exchange Commission of participating in a $6 million pump-and-dump scheme is calling on the U.S. Supreme Court to review a circuit split that he says has created "intolerable confusion" over when the agency can collect disgorgement.
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October 17, 2025
Investment Firm Founder Indicted On Alleged $500M Scheme
The co-founder of two Florida-based investment firms has been accused by federal prosecutors and the U.S. Securities and Exchange Commission of defrauding lenders and investors out of hundreds of millions of dollars with false representations about the firms' financial success and assets.
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October 17, 2025
Major Banks Colluded For 30 Years To Fix Rates, Suit Says
Several major banks, including JPMorgan Chase, Bank of America and Wells Fargo, have been hit with a proposed class action in Connecticut federal court alleging that for the past 30 years, they have been artificially inflating interest rates on variable-rate loans to consumers and small businesses.
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October 17, 2025
Acadia Investors Score Partial Win In Fraud Class Action
A Tennessee federal judge has granted a proposed class of Acadia Healthcare Co. investors a partial early win in their suit claiming the company misled them about the strength of its United Kingdom operations, finding that the investors have presented genuine issues of material fact and that Acadia failed to properly rebut their claims.
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October 17, 2025
11th Circ. Ruling Could Unravel Strict ERISA Exhaustion Rule
A recent Eleventh Circuit decision opens up a route for overturning the appellate court's strictest-in-the-nation precedent requiring administrative exhaustion of all claims brought under the Employee Retirement Income Security Act, attorneys say, given that two judges in a panel concurrence advocated for such action following en banc review.
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October 17, 2025
Robbins Geller To Steer REIT Investors' Suit Over $787M Deal
Robbins Geller Rudman & Dowd LLP will lead a proposed class of investors in real estate investment trust Broadmark Realty Capital Inc. who claim they were misled by executives from the REIT ahead of a $787 million merger with Ready Capital Corp. in 2023.
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October 17, 2025
Federal Courts To Scale Back Operations Amid Shutdown
The federal court system has run out of money and will scale back operations beginning Monday as a result of the ongoing government shutdown, possibly leading to case delays.
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October 17, 2025
Taxation With Representation: Latham, Kirkland, Wachtell
In this week's Taxation With Representation, the Artificial Intelligence Infrastructure Partnership, MGX, and BlackRock's Global Infrastructure Partners acquire Aligned Data Centers from Macquarie Asset Management and co-investors; Rayonier Inc. and PotlatchDeltic Corp. merge to create a timber and wood products giant; and a Lone Star Funds affiliate acquires industrial processing equipment provider Hillenbrand Inc.
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October 16, 2025
China's Crackdown On Rare Earth Minerals Spooks Importers
In the latest trade salvo between the U.S. and China, stricter Chinese export controls on critical earth minerals that many U.S. manufacturers rely on are causing concern for businesses, which may have difficulty diversifying supply chains for the rare materials.
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October 16, 2025
Wells Fargo, Workers Get More Time For Stock Option Deal
Wells Fargo & Co. and former employees on Thursday were granted an extended deadline for filing a request for preliminary approval of their settlement resolving litigation alleging the bank used dividends earned by its employee stock ownership fund to meet its 401(k) matching obligations.
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October 16, 2025
3 Firms Shape MGM's $546M Sale Of Ohio Gambling Venue
MGM Resorts International, guided by Weil Gotshal & Manges LLP, plans to sell the operations of a racetrack and casino in Northfield Park, Ohio, for $546 million to private equity firm Clairvest Group, advised by Chapman and Cutler LLP and Duane Morris LLP, the companies said Thursday.
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October 16, 2025
Electric Aircraft Startup Beta Technologies Targets $750M IPO
Electric aircraft and propulsion system manufacturer Beta Technologies has unveiled plans for an estimated $750 million initial public offering, with Kirkland & Ellis LLP advising the company and Davis Polk & Wardwell LLP advising the underwriters.
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October 16, 2025
ADNOC's Covestro Buy To Get EU Nod, Plus More Rumors
Abu Dhabi oil giant ADNOC is expected to get a stamp of approval from European regulators for its €14.7 takeover of German chemicals company Covestro; Spanish grid operator Enagas is debating buying a minority stake in French gas operator Terega; and private equity giant Apollo has submitted another bid to acquire pizza chain Papa John's.
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October 16, 2025
Akin Guides Metals Co. CMC On $1.8B Concrete Deal
Akin is advising Commercial Metals Co. on its plan to acquire Foley Products Co., a large U.S. regional supplier of precast concrete products, for $1.84 billion in cash, CMC said Thursday.
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October 16, 2025
HR Biz Deel Valued At $17.3B After $300M Funding Round
Human resources and payroll platform Deel, advised by Orrick Herrington & Sutcliffe LLP, on Thursday revealed that it hit a $17.3 billion valuation after closing its latest funding round with $300 million in investor commitments.
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October 15, 2025
$60M Deal Gets Final OK Over Adviser's Role In Ponzi Scheme
An Illinois state judge on Wednesday gave the final nod to a settlement deal that includes a $60 million judgment, ending investors' negligence claims against their investment adviser, though claims remain ongoing against a movie producer who allegedly misused their investment funds.
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October 15, 2025
BofA, BNY Mellon Accused Of Enabling Epstein's Crimes
Bank of America and the Bank of New York Mellon Corp. are the latest banks accused of enabling Jeffrey Epstein's sex trafficking enterprise and failing to timely report the late sex offender's suspicious transactions, according to a pair of proposed class actions filed Wednesday in New York federal court.
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October 15, 2025
11th Circ. Leaves Hope For ESOP Suit Against Seafood Co.
The Eleventh Circuit on Wednesday backed the dismissal of a proposed class action from ex-seafood company workers who claimed their employee stock ownership plan had been mismanaged, but left open the possibility that the former workers could resuscitate their suit at the trial court.
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October 15, 2025
Chancery 'Rewrote' $3.4B Merger Deal, J&J Tells Del. Justices
Johnson & Johnson told the Delaware Supreme Court on Wednesday that the Chancery Court "rewrote" its $3.4 billion agreement for the acquisition of surgical robotics firm Auris Health, wrongly using the implied covenant of good faith and fair dealing to impose obligations the company never accepted.
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October 15, 2025
Pa. Man Pleads To Misleading Investors In $33M Crypto Scam
A Pennsylvania man accused of bilking investors out of more than $33 million in a cryptocurrency investment scheme pled guilty in federal court Wednesday.
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October 15, 2025
Skadden, Kirkland Guiding Lone Star's $3.8B Hillenbrand Buy
Skadden-led Hillenbrand Inc. will be acquired by an affiliate of Kirkland-advised Lone Star Funds in an all-cash transaction with an enterprise value of approximately $3.8 billion, the provider of industrial processing equipment said Wednesday.
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October 15, 2025
Southeast US Infrastructure Firm Files $100M IPO Plans
North Carolina-based infrastructure company Cardinal Infrastructure Group has filed plans with the U.S. Securities and Exchange Commission to raise up to $100 million in an initial public offering, a move that comes as a handful of companies continue to submit IPO plans despite the ongoing government shutdown slowing SEC operations.
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October 15, 2025
Town Hall Ventures Secures $440M To Invest In AI, Healthcare
Venture capital firm Town Hall Ventures on Wednesday announced that it has commenced the investment program for its fourth fund, which secured roughly $440 million of capital commitments and will be used to invest in artificial intelligence and healthcare innovation for underserved communities.
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October 14, 2025
GOP Bill Would Codify Trump Private Equity 401(k) Order
A Montana Republican lawmaker announced Tuesday the introduction of a bill that would codify President Donald Trump's executive order that aims to make it easier for retirement plans to invest in nontraditional 401(k) assets like private equity and cryptocurrency.
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October 14, 2025
$300M Asset Suit Tossed In NC Over Demand Futility Failure
A North Carolina business court judge has dismissed a lawsuit from shareholders alleging leaders of an investment fund allowed an exchange of more than $300 million in diversified assets for "worthless" illiquid equity, finding the complaint did not allege either a material benefit or a substantial likelihood of liability as to the adviser.
Expert Analysis
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Opinion
SEC Arbitration Shift Is At Odds With Fraud Deterrence
The U.S. Securities and Exchange Commission's recent statement allowing the use of mandatory arbitration by new publicly traded companies could result in higher legal costs, while removing the powerful deterrent impact of public lawsuits that have helped make the U.S. securities markets a model of transparency and fairness, say attorneys at Labaton Keller.
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Protecting Sensitive Court Filings After Recent Cyber Breach
In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mitigate the risk of unauthorized exposure, say attorneys at Redgrave.
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Despite Fraud Focus, SEC Still Targeting Technical Violations
The U.S. Securities and Exchange Commission under Chairman Paul Atkins has emphasized its back-to-basics strategy, focusing on identifying and combating fraud and manipulation, but at the same time, it has continued to pursue nonfraud-based actions targeting technical rule violations, a trend that will likely continue, say attorneys at Morgan Lewis.
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Series
Judging Figure Skating Makes Me A Better Lawyer
Judging figure skating competitions helps me hone the focus, decisiveness and ability to process complex real-time information I need in court, but more importantly, it makes me reengage with a community and my identity outside of law, which, paradoxically, always brings me back to work feeling restored, says Megan Raymond at Groombridge Wu.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q3
The third quarter of 2025 brought legislative changes to state money transmission certification requirements and securities law obligations, as well as high-profile accounting and anti-money laundering compliance enforcement actions by the Department of Financial Protection and Innovation, say attorneys at Ropes & Gray.
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What Ethics Rules Say On Atty Discipline For Online Speech
Though law firms are free to discipline employees for their online commentary about Charlie Kirk or other social media activity, saying crude or insensitive things on the internet generally doesn’t subject attorneys to professional discipline under the Model Rules of Professional Conduct, says Stacie H. Rosenzweig at Halling & Cayo.
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Balancing The Risks And Rewards Of Private Equity In 401(k)s
The recent executive order directing government agencies to consider encouraging private equity and other alternative investments in 401(k) plans does not change the fundamental fiduciary calculus or reduce risk, as success with private investments will depend on careful analysis of both participant demand and fiduciary obligations, say attorneys at Jenner & Block.
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2 Rulings Highlight IRS' Uncertain Civil Fraud Penalty Powers
Conflicting decisions from the U.S. Tax Court and the Northern District of Texas that hinge on whether the IRS can administratively assert civil fraud penalties since the U.S. Supreme Court’s 2024 decision in SEC v. Jarkesy provide both opportunities and potential pitfalls for taxpayers, says Michael Landman at Bird Marella.
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SEC Fine Signals Crackdown On Security-Based Swap Dealers
The U.S. Securities and Exchange Commission's recent fine against MUFG Securities is unique because it involves a non-U.S. security-based swap dealer complying with U.S. laws based on the election of substituted compliance, but it should not be dismissed as a one-off case, says Kelly Rock, formerly at the SEC.
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Junior Attys Must Beware Of 5 Common Legal Brief Mistakes
Excerpt from Practical Guidance
Junior law firm associates must be careful to avoid five common pitfalls when drafting legal briefs — from including every possible argument to not developing a theme — to build the reputation of a sought-after litigator, says James Argionis at Cozen O'Connor.
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Expect DOJ To Repeat 4 Themes From 2024's FCPA Trials
As two upcoming Foreign Corrupt Practice Act trials approach, defense counsel should anticipate the U.S. Department of Justice to revive several of the same themes prosecutors leaned on in trials last year to motivate jurors to convict, and build counternarratives to neutralize these arguments, says James Koukios at MoFo.
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How The SEC Has Subtly Changed Its Injunction Approach
For decades, the U.S. Securities and Exchange Commission has relied on the obey-the-law injunction, but judicial deference to the SEC's desired language has fractured since 2012 — with the commission itself this year utilizing a more tailored approach to injunctions, albeit inconsistently, say attorneys at Hilgers Graben.
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Series
Power To The Paralegals: How And Why Training Must Evolve
Empowering paralegals through new models of education that emphasize digital fluency, interdisciplinary collaboration and human-centered lawyering could help solve workforce challenges and the justice gap — if firms, educators and policymakers get on board, say Kristine Custodio Suero and Kelli Radnothy.
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Series
Playing Softball Makes Me A Better Lawyer
My time on the softball field has taught me lessons that also apply to success in legal work — on effective preparation, flexibility, communication and teamwork, says Sarah Abrams at Baleen Specialty.
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IPO Suit Reinforces Strict Section 11 Tracing Requirement
A California federal court's recent dismissal of an investor class action against Allbirds in connection with the company's initial public offering cites the U.S. Supreme Court's 2023 Slack v. Pirani decision, reinforcing the firm tracing requirement for Section 11 plaintiffs — even at the pleading stage, say attorneys at Paul Weiss.