Asset Management

  • September 25, 2024

    7th Circ. Doubts London Depo Should Trigger New Fraud Trial

    Seventh Circuit judges appeared skeptical Wednesday of a former investment manager's bid for a new trial after he was convicted of bilking investors of roughly $10 million because he could not physically confront a key witness who testified via deposition in London, saying he failed to adequately object to the circumstance.

  • September 25, 2024

    Cancer Detection Biz To Go Public Via $694M SPAC Merger

    Special purpose acquisition company Breeze Holdings Acquisition Corp. on Wednesday announced that it has agreed to merge with and take public clinical-stage biopharmaceutical company YD Biopharma Ltd. in a deal that gives the combined company an estimated enterprise value of $694 million and was built by three firms.

  • September 25, 2024

    2nd Circ. Eyes New Trial In Yale Retirement Fee Fight

    The Second Circuit appeared inclined Wednesday to revive a class action against Yale University from employees alleging their $5.5 billion retirement plan was mismanaged, as all three judges on the panel pointed out possible issues with jury instructions before a post-trial verdict in Yale's favor in 2023.

  • September 25, 2024

    NYSE Cancels Proposal To Extend SPAC Merger Deadlines

    The New York Stock Exchange has pulled a proposal that would have provided special purpose acquisition companies with more time to complete mergers while remaining listed, several months after it sought regulatory approval for the extension.

  • September 24, 2024

    Bank Regulators, SEC Face GOP Inquiry Over Crypto Bulletin

    House Republicans have called for the Federal Reserve and other agencies to turn over a host of documents for what the lawmakers say is an inquiry into the origins and behind-the-scenes policymaking impact of the U.S. Securities and Exchange Commission's cryptocurrency accounting guidance.

  • September 24, 2024

    'Be Careful What You Wish For' Post-Jarkesy, SEC Atty Says

    A trial lawyer for the U.S. Securities and Exchange Commission told the defense bar Tuesday to "be careful what you wish for" after the U.S. Supreme Court dealt a blow to the agency's in-house court system, saying cases against gatekeepers "are not going away."

  • September 24, 2024

    'Joker' Producer's Broker To Pay $60M In Ponzi Scheme Suit

    An investor asked an Illinois state judge Tuesday for his early approval of a $60 million settlement with an investment adviser who convinced her and others to put money toward an international Ponzi scheme she says movie producer Jason Cloth carried out by raising new funds to pay off older investors.

  • September 24, 2024

    Ex-Foot Locker Exec To Pay $236K For Insider Trading

    A laid-off Foot Locker executive agreed to pay nearly $236,000 to resolve U.S. Securities and Exchange Commission claims that he engaged in insider trading during and after his time with the sportswear company, the agency announced Tuesday.

  • September 24, 2024

    'The Predators Are Back,' Mich. Tax Foreclosure Attys Warn

    Lawyers for a proposed class accusing Michigan counties of unlawfully keeping proceeds of their tax-foreclosed home sales urged a federal judge Monday to bar a third-party claims firm and a "conspiring" Michigan attorney from trying to snatch away class members using tactics they called abusive and illegal.

  • September 24, 2024

    SEC Says Blockchain Cybersecurity Co. Ran $5M Fraud

    The U.S. Securities and Exchange Commission sued a former blockchain cybersecurity and supply chain management company and its founder, alleging they deceived investors and fraudulently raised more than $5 million by falsely claiming that the company had secured contracts and that it expected to generate millions in revenue.

  • September 24, 2024

    Norfolk Southern Says Stock Drop Suit Based On 'Hindsight'

    Norfolk Southern Corp. is urging a Georgia federal court to throw out a proposed class action alleging it duped stockholders by misleading them about the safety of its operations, leading to a stock drop after last year's derailment in East Palestine, Ohio, saying the claims are a bid to capitalize in hindsight on the crash.

  • September 24, 2024

    Dish Slams 'Entitled' Standard General Exec's Race Bias Suit

    Dish Network has called for sanctions against Soo Kim, his hedge fund Standard General and their attorneys, calling Kim's racial discrimination suit against Dish, the Federal Communications Commission and a collection of other media players "an expensive temper tantrum."

  • September 24, 2024

    Star Witness Against Bankman-Fried Gets 2 Years In FTX Case

    A Manhattan federal judge sentenced former cryptocurrency executive Caroline Ellison to two years in prison Tuesday, crediting her decision to testify against FTX founder Sam Bankman-Fried but saying the $11.2 billion fraud was too big to warrant a "get out of jail free card."

  • September 24, 2024

    King & Spalding, Skadden Rep $1.7B DE Shaw-Macquarie Deal

    Australian investment firm Macquarie Asset Management, advised by King & Spalding LLP, on Tuesday announced that it has agreed to take a "significant" minority stake in renewable energy company D.E. Shaw Renewables Investment Group, led by Skadden Arps Slate Meagher & Flom LLP, for up to $1.73 billion.

  • September 24, 2024

    Commercial REIT Unveils $251M IPO As Pipeline Builds

    Real estate investment trust FrontView Inc. on Tuesday launched plans for an estimated $251 million initial public offering, represented by Fried Frank Harris Shriver & Jacobson LLP and underwriters' counsel DLA Piper LLP, joining a growing IPO pipeline.

  • September 24, 2024

    3 Firms Rep As Blackstone, Vista Ink $8.4B Smartsheet Buy

    Work management platform Smartsheet Inc. will be purchased by private equity giants Blackstone and Vista Equity Partners in an all-cash, take-private deal valued at around $8.4 billion that was built by three law firms, the companies said Tuesday.

  • September 23, 2024

    Credit Suisse Can't Ditch Investor Fraud Suit, But PwC Can

    A New York federal judge has declined to fully dismiss a proposed class action alleging Credit Suisse misled investors about its condition in the run-up to its collapse and takeover by UBS, ruling that a narrow part of the litigation can proceed while much of it — including claims against PwC — must go.

  • September 23, 2024

    3rd Circ. Revives $60M Moroccan Hotel Award Fight

    The Third Circuit has sent a decision over a $60 million arbitral award favoring the Royal Mansour Hotel's current owner back to a lower court for further consideration, saying the company has plausibly argued that it didn't cause the Moroccan establishment to fall into financial ruin.

  • September 23, 2024

    Coinbase Brings On Ex-Citadel Legal Chief With SEC Chops

    Coinbase announced on Monday it has hired Ryan VanGrack to serve as its vice president of legal, where he will be overseeing civil litigation, regulatory probes, employment and intellectual property matters for the crypto exchange after spending seven years with Citadel Securities as general counsel.

  • September 23, 2024

    Petco, Shareholders Battle In Chancery Over Controller Clout

    Attorneys for Petco Health & Wellness Co. Inc. face an "uphill battle" in branding as "wrongly decided" a landmark Court of Chancery ruling earlier this year that struck down an agreement giving a company's controlling stockholder board-trumping power, Delaware's chancellor cautioned on Monday.

  • September 23, 2024

    CFTC Fines Piper Sandler $2M In Latest Text Messaging Action

    The U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission both announced settlements Monday in their ongoing probe into the financial industry's use of personal devices to discuss company business, with the CFTC issuing a fine against a subsidiary of Piper Sandler & Co. while the SEC said that a cooperative investment adviser would not have to pay anything. 

  • September 23, 2024

    DOJ Adds AI Risk To Corporate Compliance Program

    The U.S. Department of Justice's Criminal Division is now weighing how companies manage risk related to artificial intelligence and potentially stymie whistleblowers, one of several updates to the division's policies on evaluating corporate compliance programs announced by a senior official on Monday.

  • September 23, 2024

    Del. Justices Uphold Bankrupt Byju's US Lender Takeover

    A panel of Delaware Supreme Court justices on Monday affirmed a lower court's ruling that the American arm of Indian educational technology business Byju's was in default under a $1.2 billion loan and that lenders had the authority to install new directors.

  • September 23, 2024

    Vanguard Agrees To Settle Investors' Tax Liability Suit

    Vanguard agreed to settle a proposed class action by investors who accused the company of violating its fiduciary duties when it triggered a sell-off of assets that left them with massive tax bills, according to a Pennsylvania federal court order Monday.

  • September 23, 2024

    Boston-Based PE Firm Wraps Debut Fund With $220M In Tow

    Boston-based private equity shop Heritage Holding on Monday announced that it closed its debut fund with $220 million in tow, which will be used to partner with small business owners and founders.

Expert Analysis

  • Boeing Saga Underscores Need For Ethical Corporate Culture

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    In the wake of recent allegations about Boeing’s safety culture, and amid the U.S. Department of Justice’s new whistleblower incentives, business leaders should reinvigorate their emphasis on compliance by making clear that long-term profitability requires ethical business practices, says Maxwell Carr-Howard at Dentons.

  • Key Takeaways From 2024 Accountants' Liability Conference

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    At the recent annual Accountants' Liability Conference, regulators provided important commentary on new Public Company Accounting Oversight Board rulemaking and standard-setting initiatives, and emphasized regulatory priorities ranging from the tone at the top to alternative practice structures, say attorneys at Arnold & Porter.

  • Series

    Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • Parsing Controversial Del. General Corporation Law Proposals

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    In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

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    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Takeaways From SEC's New Data Breach Amendments

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    The U.S. Securities and Exchange Commission's recent amendment of its consumer privacy rules to require investment advisers and broker-dealers to put procedures in place to uncover data breaches and report them to customers evidences that protecting client records and information remains an SEC priority, say attorneys at Simpson Thacher.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • BF Borgers Clients Should Review Compliance, Liability

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    After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • Opinion

    Del. Needs To Urgently Pass Post-Moelis Corporate Law Bill

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    After the Delaware Chancery Court's decision in West Palm Beach Firefighters' Pension v. Moelis sparked confusion around governance rights, recently proposed amendments to the Delaware General Corporation Law would preserve the state's predictable corporate governance system, says Lawrence Hamermesh at Widener University Delaware Law School.

  • Series

    Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

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    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • Using A Children's Book Approach In Firm Marketing Content

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    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

  • The State Of Play In DEI And ESG 1 Year After Harvard Ruling

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    Almost a year after the U.S. Supreme Court decided Students for Fair Admissions v. Harvard, attorney general scrutiny of environmental, social and governance-related efforts indicates a potential path for corporate diversity, equity and inclusion initiatives to be targeted, say attorneys at Crowell & Moring.

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