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Asset Management
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August 14, 2025
Judge Won't Boot Family Feud From NC Business Court
A son suing his father for allegedly refusing to turn over more than $1 million his grandfather set aside for him when he turned 21 can't use "gamesmanship" to get the case booted from North Carolina's Business Court, a judge said in declining to send the case back to regular superior court.
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August 13, 2025
Labcorp Wins ERISA Trial As Judge Cites Stronger Witnesses
Medical testing chain Labcorp did not breach its duty of prudence to its multibillion-dollar employee retirement investment fund, a North Carolina federal judge ruled Tuesday after a trial, saying two plaintiffs' experts earned little credibility.
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August 13, 2025
Paramount Investor Gabelli Sues Redstone, Skydance In Del.
A fund of Paramount Global investor Mario Gabelli sued National Amusements Inc. successor Harbor Lights Entertainment, Shari Redstone and others in Delaware's Court of Chancery on Wednesday, seeking damages tied to the recently closed $8.4 billion Paramount-Skydance Media merger.
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August 13, 2025
Bank Of America Can't Escape 401(k) Forfeiture Suit
A North Carolina federal judge refused to toss a proposed class action against Bank of America alleging the bank misspent 401(k) plan forfeitures, finding allegations that the bank's decision to reduce obligations to other employees' accounts instead of defraying plan expenses had stated a claim for violating federal benefits law.
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August 13, 2025
Investment Co. Adviser Admits His Role In Fraud Scheme
An officer of a purported investment company admitted in federal court Wednesday that he lied about working for a Chicago law firm to help fleece investors out of nearly $1 million with false promises of quick returns on high-yield bank instruments.
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August 13, 2025
11th Circ. Doubts Timeliness Of Ex-NFL Player's Benefits Suit
A former NFL player's bid to restart his suit seeking additional benefits from a disability retirement plan faced tough questions at the Eleventh Circuit on Wednesday, with multiple judges questioning how his claims weren't time-barred when the record showed an initial benefits denial occurred nearly 20 years ago.
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August 13, 2025
BakerHostetler Hires Cooley Securities Litigation Atty
BakerHostetler has added an experienced litigator to its white collar, investigations and securities enforcement litigation and securities and governance litigation teams in New York, bringing with him more than 25 years of BigLaw experience, including most recently with Cooley LLP.
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August 13, 2025
NC Businessman Nabs Early Exit From Investment Fraud Suit
A businessman accused of helping launder money for a lab owner in an investment fraud scheme had no duty to disclose his dealings with the allegedly sham operation, a North Carolina Business Court judge has ruled in dismissing investors' claims against him.
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August 13, 2025
Crypto Co. Bullish Makes Public Debut After Upsized $1B IPO
Venture-backed crypto exchange Bullish made its public debut Wednesday after raising $1.1 billion in its upsized initial public offering, marking the latest in a string of crypto-related companies to dabble in the public markets.
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August 12, 2025
Terraform Founder Cops To $40B Crypto Fraud Scheme
The founder and former CEO of Terraform Labs on Tuesday admitted to perpetrating a multibillion-dollar fraud by deceiving investors about its decentralized finance-based ecosystem of crypto products, a scheme that wiped out $40 billion in market value when it collapsed.
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August 12, 2025
3rd Circ. Spurns Perrigo Investor's Bid To Avoid $97M Deal
A major shareholder in Perrigo Co. PLC has been barred from opting out of a $97 million securities class action settlement, after the Third Circuit held in a precedential opinion on Tuesday that the investor must bear the consequences of its counsel's failure to timely request exclusion.
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August 12, 2025
SEC Fines Firm Owner $4M Over AI Pyramid Scheme Claims
The Florida owner of a multilevel marketing company agreed to a $4 million penalty to resolve a U.S. Securities and Exchange Commission suit that accused him of fraudulently raising $108 million for the purported development of artificial intelligence-powered software products, according to a consent order filed Tuesday.
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August 12, 2025
11th Circ. Suggests 'Bad Drafting' Led NCR To Benefit Liability
The Eleventh Circuit signaled Tuesday that it will likely uphold an early win by former executives of a Georgia e-commerce company who said they were short-changed in payouts from a "top hat" benefits plan, telling the company it couldn't escape the "bad drafting" of its contract.
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August 12, 2025
Insurer Obstructed $116M In Funding Claims, Court Told
A company that invested in a personal injury law firm's docket of cases alleges in a lawsuit removed to North Carolina federal court that its insurer "intentionally obstructed" its recovery of more than $116 million in coverage under policies insuring that investment.
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August 12, 2025
No New Foreign Bribery Trial For Ex-Connecticut Oil Trader
A former Connecticut oil trader faces sentencing Nov. 4 after a federal judge declined to overturn a jury's verdict finding him guilty of paying bribes to an official at Brazilian oil giant Petroleo Brasileiro SA and laundering money.
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August 12, 2025
Teamsters Fund Fights Debt Recalculation Order At 7th Circ.
The Seventh Circuit should overturn an Illinois federal judge's order for a Teamsters pension fund to recalculate a concrete company's debt, the fund argued, saying the fund's original finding that the company owed roughly $23 million was correct.
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August 12, 2025
Fed. Circ. Rejects Another Fannie, Freddie Investor Suit
The Federal Circuit on Tuesday threw out a lawsuit accusing the federal government of profiting off Fannie Mae and Freddie Mac to other shareholders' detriment, saying the case was seeking to rehash arguments the court rejected three years ago.
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August 12, 2025
DOL Yanks 2021 Guidance On Private Equity 401(k) Risks
The U.S. Department of Labor's employee benefits arm on Tuesday rescinded guidance from 2021 that warned 401(k) plan managers about the risks of investing in private equity, which comes after an executive order last week that called for expanding access to alternative asset classes in defined-contribution retirement plan investing.
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August 12, 2025
FTC Skeptical Of 'Partial' Sale For GTCR Merger Fix
The Federal Trade Commission told an Illinois federal court that enforcers are reviewing an offer by private equity firm GTCR BC Holding to sell parts of a medical device coatings company in order to fix concerns raised by the company's planned purchase of Surmodics, but said a full sale is preferable.
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August 12, 2025
11th Circ. Wary Of Individual Arbitration Push In ESOP Fight
The Eleventh Circuit on Tuesday appeared unlikely to force individual arbitration of a federal benefits lawsuit alleging that a legal technology company's employee stock ownership plan shares were undervalued in a plan termination, with multiple judges questioning the validity of an arbitration provision in ESOP plan documents.
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August 12, 2025
Crypto-Focused SPAC Apex Treasury Unveils $250M IPO Plans
Special purpose acquisition company Apex Treasury Corp. has filed plans for a $250 million initial public offering, with the goal of acquiring a blockchain or crypto treasury company.
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August 12, 2025
3 Firms Advise As Cardinal Health Makes $1.9B Urology Push
Cardinal Health said Tuesday that one of its specialty platforms has agreed to acquire a top urology company known as Solaris Health from Lee Equity Partners and Solaris' physician owners for $1.9 billion, in a deal steered by three law firms.
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August 12, 2025
Debevoise, Ropes & Gray Shape $3B Credit Continuation Fund
Private equity giant TPG Inc. on Tuesday announced that its middle-market direct lending platform, advised by Ropes & Gray LLP, closed a $3 billion credit-focused continuation fund alongside Debevoise & Plimpton LLP-advised Coller Capital, a transaction that the parties say marks the largest completed deal of its kind in the private secondaries market.
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August 11, 2025
Elway Trust Seeks Sale Of Foreclosed $5M Denver Property
The trust of legendary Denver Broncos quarterback John Elway is seeking to sell a 14,300-square-foot property in Denver's metro area after a local restaurateur defaulted on a $5.4 million loan, according to paperwork filed in Denver District Court.
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August 11, 2025
4 Takeaways From Trump's Order To Expand 401(k) Assets
President Donald Trump's recent executive order aimed at expanding 401(k) savers' access to nontraditional 401(k) assets like private equity and crypto could open up a greater portion of the financial market to retirement savers, attorneys say, though plenty of regulatory hurdles lie ahead. Here, Law360 looks at four key takeaways on the order with attorneys and experts.
Expert Analysis
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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.
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In 2nd Place, Va. 'Rocket Docket' Remains Old Reliable
The U.S. District Court for the Eastern District of Virginia was again one of the fastest civil trial courts in the nation last year, and an interview with the court’s newest judge provides insights into why it continues to soar, says Robert Tata at Hunton.
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SEC Signals Opening For Private Fund Investment Reform
At SEC Speaks in late May, the U.S. Securities and Exchange Commission made clear that it's considering allowing registered funds of private funds to be offered broadly to true retail investors, meaning existing funds should review their disclosures focusing on conflicts of interest, liquidity and fees, say attorneys at Stradley Ronon.
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How Attorneys Can Become Change Agents For Racial Equity
As the administration targets diversity, equity and inclusion efforts and law firms consider pulling back from their programs, lawyers who care about racial equity and justice can employ four strategies to create microspaces of justice, which can then be parlayed into drivers of transformational change, says Susan Sturm at Columbia Law School.
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GAO Report Reveals How Banks And Regulators Are Using AI
A U.S. Government Accountability Office report published last month makes clear that while both federal regulators and regulated entities like banks and credit unions are employing artificial intelligence to improve efficiency, they're maintaining some skepticism, say attorneys at Orrick.
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Series
Running Marathons Makes Me A Better Lawyer
After almost five years of running marathons, I’ve learned that both the race itself and the training process sharpen skills that directly translate to the practice of law, including discipline, dedication, endurance, problem-solving and mental toughness, says Lauren Meadows at Swift Currie.
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Parsing The SEC's No-Action Letter On Rule 192 Compliance
Brandon Figg at Morgan Lewis discusses the U.S. Securities and Exchange Commission's recent no-action letter, which greenlights information barriers as an alternative approach to Rule 192 compliance and includes likely relief for existing policies and procedures.