Asset Management

  • February 07, 2024

    Mich. Judge Rips Romantics Singer For Copying Trial Brief

    A founding member of the Romantics will likely have a tough time regaining control of the band's finances after a Michigan appellate judge said Wednesday he couldn't condone the "incompetence" of the musician's trial attorneys, who filed a brief that was a copy of the opposing side's argument. 

  • February 07, 2024

    Trump Trial Judge Gets Little Info On Exec's Alleged Perjury

    An attorney for Donald Trump and his companies' former chief financial officer Allen Weisselberg told the New York state judge presiding over their civil fraud trial Wednesday that she could not respond to "unsubstantiated" reports that the ex-CFO was in plea negotiations for allegedly lying on the stand, citing her ethical obligations.

  • February 07, 2024

    Matterport Stockholders Say Officials Wrongly Cashed $225M

    Shareholders of 3D model maker Matterport Inc. accused top company officials in Delaware Chancery Court of self-dealing by paying themselves performance rewards following a 2021 merger, even though the company hadn't met benchmarks to allow them to cash out $225 million in shares.

  • February 07, 2024

    Aera Energy Valued At $2.1B In California Resources Merger

    California Resources Corp. on Wednesday agreed to buy oil and gas producer company Aera Energy at a $2.1 billion valuation, in a deal the companies say will create California's top oil and gas producer, led by Sullivan & Cromwell LLP and Latham & Watkins LLP, respectively.

  • February 07, 2024

    Edward Jones Worker Says Race Quota Concern Led To Firing

    Edward Jones pushed out a Black marketing employee after he raised concerns that the company used illegal race quotas that favored white men in a quiz used to connect customers with financial advisers, according to a suit filed in New York federal court.

  • February 07, 2024

    With PE Exits Set To Surge, Buyers Must Act Quickly, Wisely

    Private equity exits are expected to rebound this year after a decade low in 2023, as investment time horizons expire and investors demand returns, but strategic buyers will need to act quickly and keep a finger on the market's pulse as competition heats up.

  • February 07, 2024

    BDO Inks $2.25M Deal In 401(k) Mismanagement Suit

    A proposed class of workers asked an Illinois federal judge to greenlight a $2.25 million settlement with accounting firm BDO, which they allege failed to verify that its retirement plan's funds were evaluated properly.

  • February 07, 2024

    Refrigeration Co. Can't Put ESOP Valuation Suit On Ice

    An industrial refrigeration company can't avoid a former executive's suit alleging it mismanaged an employee stock ownership plan by grossly undervaluing the business, after a North Carolina federal judge ruled he could still sue on behalf of the plan even if he's no longer a trustee.

  • February 07, 2024

    Worker Says J&J Mismanaged Prescription Benefits

    A Johnson & Johnson employee told a New Jersey federal court in a proposed class action that workers were overcharged for prescription drug benefits, including through an expensive contract with pharmacy benefits manager Express Scripts.

  • February 07, 2024

    4 Private Equity Firms Wrap Funds Totaling $1.45B

    Four private equity funds announced Wednesday that they have held final closings for investment vehicles that in total raised around $1.45 billion, the largest of which was a $900 million debut fund from Latham & Watkins LLP-led Coalesce Capital.

  • February 07, 2024

    Del. Justices Uphold Clovis Holdings Cash-Drain Claims

    The Delaware Supreme Court on Wednesday upheld, without elaboration, a Chancery Court award of nearly $7.8 million in damages, fees and prejudgment interest to the sole investor in a stone powder-based paper investment venture that was allegedly drained of cash by insiders.

  • February 07, 2024

    REIT Raises $672M IPO At Low End While Insurer Pulls Plans

    Senior housing real estate investment trust American Healthcare REIT Inc. rose in debut trading Wednesday after pricing a $672 million initial public offering at the bottom of its range, while insurer The Fortegra Group Inc. canceled its offering given market conditions, revealing mixed signals about the nascent IPO recovery.

  • February 07, 2024

    Bybit Wants $953M FTX Suit Axed For 'Threadbare' US Ties

    Cryptocurrency exchange Bybit Fintech Ltd. has urged a Delaware bankruptcy judge to throw out an FTX lawsuit that aims to recover $953 million that Bybit and affiliates allegedly raced to withdraw before FTX collapsed, arguing that the case has "no connection" to the U.S. and even if it did, FTX's claims all fail.

  • February 07, 2024

    Fund Formation Group Of The Year: Fried Frank

    Fried Frank Harris Shriver & Jacobson LLP attorneys counseled on the formation of multibillion-dollar funds, including five totaling $37 billion for Goldman Sachs, a €16.7 billion ($18 billion) fund for Permira and a $17 billion fund for Brookfield Asset Management, landing the firm among Law360's 2023 Fund Formation Groups of the Year.

  • February 07, 2024

    House Panel's Top Dem Floats Bill To Require Automatic IRAs

    The House Ways and Means Committee's top Democrat introduced legislation Wednesday that would expand workers' retirement coverage by requiring employers with 10 or more employees to establish a federal automatic individual retirement account program.

  • February 06, 2024

    Feds Say Mukasey Repping SBF, Mashinsky Possible Conflict

    Prosecutors alerted a New York federal judge Tuesday about a possible conflict stemming from Sam Bankman-Fried's recent hiring of Marc Mukasey, who also represents Celsius founder Alex Mashinsky in his criminal proceedings, noting Celsius lent money to Alameda Research, which repaid some of the loans using FTX's customer funds.

  • February 06, 2024

    DCG Slams Genesis Ch. 11 Plan As Favoring Some Creditors

    Crypto conglomerate Digital Currency Group has told a New York bankruptcy judge that the Chapter 11 plan of its lender subsidiary Genesis Global Holdco shouldn't move forward because it overpays certain creditor classes, favoring them over equity holders like DCG.

  • February 06, 2024

    Mast Capital Snags $600M Construction Loan For Miami Tower

    Florida real estate development and investment firm Mast Capital said Tuesday it has secured a $600 million loan for the construction of Cipriani Residences Miami, a condominium tower to be built in the city's Brickell neighborhood.

  • February 06, 2024

    AI Image Co. Hit With $14.1M Verdict Over Lowball Buyout

    A California federal jury returned a $14.1 million verdict Monday in favor of investors alleging AI-imaging software company ArcSoft and its billionaire CEO duped them into selling their shares for less than they were worth by hiding information about the business's success, its move to China and its eventual IPO.

  • February 06, 2024

    2nd Circ. Won't Nix Award In Telecom Shareholder Fight

    The Second Circuit affirmed an arbitration award ordering the sale of a Latin American telecommunications tower after telling the contesting shareholders during oral argument it sounded like they had "buyer's remorse" about choosing arbitration.

  • February 06, 2024

    11th Circ. Says Cayman Fund Liquidators Appeal Is Too Late

    The Eleventh Circuit said Tuesday that foreign liquidators can't fight a distribution plan in the wind-down of an embattled Florida investment firm's Caymans-based feeder fund, saying they let their chance to do so go by.

  • February 06, 2024

    Energy Firm Sued By Investors After $5M SEC Fraud Fine

    United Arab Emirates-based Brooge Energy Ltd. has been hit with a proposed class action, alleging it lied to the U.S. Securities and Exchange Commission and the public during the agency's investigation into the company's faulty accounting practices, which resulted in a $5 million fine last year.

  • February 06, 2024

    Yellen Stays Mum On Bank Capital Hikes Amid House Grilling

    U.S. Treasury Secretary Janet Yellen played her cards close to the vest at a House hearing on Tuesday as lawmakers pressed her to weigh in on federal banking regulators' so-called Basel III endgame proposal, a plan she repeatedly declined to criticize — or even endorse.

  • February 06, 2024

    Car Loan Co. Gets Claims Trimmed In Employee Stock Suit

    A California federal judge tossed much of a lawsuit claiming a car loan company violated federal benefits law when it revalued its stock at the start of the coronavirus pandemic, but said the company must still face claims that retirees were forced to sell their stock at a lower value.

  • February 06, 2024

    Real Estate Rumors: Valley National, Carlyle, Peachtree

    Valley National Bank is said to have loaned $21.3 million for a self-storage project in Florida, a Carlyle Group venture has reportedly paid $265 million for a Manhattan luxury rental tower and Peachtree Group has reportedly loaned $34.5 million for a student housing complex in Florida.

Expert Analysis

  • What 3rd Circ. Gets Wrong About Arbitration Enforcement

    Author Photo

    The Third Circuit and other courts should correct their current law, exemplified by the Third Circuit's recent decision in Henry v. Wilmington Trust, requiring a motion to dismiss based on an arbitration clause because it conflicts with the Federal Arbitration Act, the Federal Rules of Civil Procedure, and — with regard to the improper-venue approach — U.S. Supreme Court precedent, says David Cinotti at Pashman Stein.

  • Series

    The Pop Culture Docket: Judge D'Emic On Moby Grape

    Author Photo

    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • What Banks Should Know About FDIC Assessment Rule

    Author Photo

    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.

  • Series

    Performing Music Makes Me A Better Lawyer

    Author Photo

    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • How 'As Such' Changes LPs' Self-Employment Tax Exposure

    Author Photo

    In light of the U.S. Tax Court’s recent Soroban Capital Partners decision hinging on "as such" to define the statutory limited partners exemption, state law limited partnerships should consider partners' roles and responsibilities before determining whether they are obligated to pay self-employment income tax, say attorneys at Morgan Lewis.

  • The SEC's Cooled Down But Still Spicy Private Fund Rules

    Author Photo

    Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.

  • Breaking Down High Court's New Code Of Conduct

    Author Photo

    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Opinion

    Legal Profession Gender Parity Requires Equal Parental Leave

    Author Photo

    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • 'Paper Tiger' Finds Its Fangs: Repeat Offenders And The CFPB

    Author Photo

    Following the Consumer Financial Protection Bureau’s recent imposition of structural remedies on Enova for repeat offenses, financial institutions, especially those that have previously been subject to consent orders, need to carefully consider their options when facing future enforcement proceedings with the CFPB, says Caitlin Mandel at Winston & Strawn.

  • Opinion

    Activist Short-Sellers Are The Dark Knights Of Wall Street

    Author Photo

    While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

  • New Regs Will Strengthen Voluntary Carbon Offset Market

    Author Photo

    Voluntary carbon offsets are a vital tool for organizations seeking to achieve net-zero greenhouse gas emissions — and recent efforts by the U.S. Commodity Futures Trading Commission, the U.S. Department of Agriculture, the state of California and others are essential to enhancing the reliability and authenticity of carbon credits, says David Smith at Manatt.

  • Series

    Writing Thriller Novels Makes Me A Better Lawyer

    Author Photo

    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

    Author Photo

    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

  • Industry Must Elevate Native American Women Attys' Stories

    Author Photo

    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • A Breakdown Of The OCC's New Venture Lending Pointers

    Author Photo

    In light of the Office of the Comptroller of the Currency's recent bulletin outlining venture lending risks for banks, Matt Schwartz and Jeffrey Hare at DLA Piper highlight key considerations for both lenders and venture-backed companies seeking or maintaining loans from OCC-regulated national banks and federal thrifts.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Asset Management archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!