Asset Management

  • February 06, 2024

    Express Scripts Cites Low Bar To Keep AG Suit In Fed. Court

    Pharmacy benefit manager Express Scripts Inc. pressed the Ninth Circuit on Monday to let it force its part of a California attorney general antitrust suit over skyrocketing insulin prices into federal court, arguing the enforcer and a U.S. district judge imposed the wrong standards in sending the case back to state court.

  • February 06, 2024

    Mich. Federal Judge Won't Pause State Foreclosure Cases

    A Michigan federal judge overseeing a class action by taxpayers alleging that a county unlawfully kept proceeds on the sales of their foreclosed homes has found that a federal law precludes her from staying state proceedings against the same defendant, denying the homeowners' request to pause the state cases.

  • February 06, 2024

    Davis Malm Guides Clean Harbors On $400M Hepaco Buy

    Davis Malm & D'Agostine PC-advised Clean Harbors Inc. said Tuesday it has struck an agreement with private equity firm Gryphon Investors to acquire its majority-owned portfolio company Hepaco, a provider of environmental and emergency response services, for $400 million in cash.

  • February 06, 2024

    Perkins Coie Can't Duck Claims It Aided Client's $12M Theft

    An Illinois judge on Tuesday refused to dismiss an investment company's lawsuit accusing Perkins Coie of helping the company's former investment manager steal $12 million, saying there was no direct authority to back the firm's argument that litigation privilege bars such claims.

  • February 06, 2024

    SEC Expands Dealer Rule To Proprietary Traders, Private Funds

    A divided U.S. Securities and Exchange Commission passed a pair of rules Tuesday that now include proprietary trading firms and some hedge funds in its definition of securities dealers, expanding the agency's oversight authority that one dissenting commissioner called "another salvo in the commission's war on private funds."

  • February 06, 2024

    Cybersecurity Biz To Go Private Following $350M Merger

    External cybersecurity provider ZeroFox Holdings Inc., advised by Venable LLP, will no longer be a public company following its all-cash $350 million acquisition by private equity firm Haveli Investments, led by Ropes & Gray LLP, according to a Tuesday statement.

  • February 06, 2024

    Fund Formation Group Of The Year: Debevoise

    Debevoise & Plimpton LLP worked with Clayton Dubilier & Rice LLC on its largest-ever fundraise and advised KKR & Co. Inc. in the formation of its $8 billion European fund, among other achievements, earning the firm a spot among Law360's 2023 Fund Formation Groups of the Year.

  • February 06, 2024

    Blackwells Starts Disney Proxy Fight, Blasts Fellow Activist

    Activist investor Blackwells Capital officially launched its proxy fight with Disney on Tuesday, urging the entertainment behemoth's shareholders to vote for its three board nominees and opposing the two offered up by fellow activist Trian Fund Management.

  • February 06, 2024

    Legato Merger's Third SPAC Prices $175M Offering

    Legato Merger Corp. III, a special-purpose acquisition company targeting infrastructure and construction-related industries, was slated to begin trading Tuesday after raising $175 million in an initial public offering, represented by Graubard Miller and underwriters' counsel Loeb & Loeb LLP.

  • February 06, 2024

    Deal Reached To Fund E-Bike Co.'s Ch. 11 Admin Expenses

    An e-bike rental company and creditors have struck a budget agreement for administrative expenses after the company urged a Florida federal court to give final approval for $25.1 million in debtor-in-possession financing to fund operations through its Chapter 11 bankruptcy proceedings.

  • February 06, 2024

    Kirkland-Led Trinity Hunt Partners Raises $700M For 7th Fund

    Growth-oriented private equity shop Trinity Hunt Partners, advised by Kirkland & Ellis LLP, on Tuesday announced that it closed its seventh fund at its hard cap of $700 million, which will be used to invest in and build small-cap companies.

  • February 06, 2024

    NY Judge Wants Info On Perjury Probe Of Trump Lieutenant

    A New York state judge weighing the evidence in Donald Trump's civil fraud trial demanded more information Tuesday about reports that a key trial witness, former Trump Organization Chief Financial Officer Allen Weisselberg, is facing perjury charges for his testimony in the case.

  • February 05, 2024

    Ex-Goldman Banker Settles SEC's Civil Insider Trading Suit

    The U.S. Securities and Exchange Commission has reached a settlement resolving its civil claims against a former Goldman Sachs banker convicted of insider trading, according to a motion for consent judgment filed in New York federal court Monday.

  • February 05, 2024

    SEC's SolarWinds Suit May Chill Disclosures, Ex-Officials Say

    A group of 21 former government officials from both Democratic and Republican administrations has urged a New York federal court to consider the possible chilling effects of public-private information sharing on cyber incidents in the U.S. Securities and Exchange Commission's case against SolarWinds.

  • February 05, 2024

    Warner Bros. Discovery Beats Investors' $43B Tie-Up Suit

    A Manhattan federal judge tossed a proposed securities class action Monday accusing Discovery of not telling investors about the flagging performance of WarnerMedia's streaming service HBO Max prior to a $43 billion merger of the two media giants, saying the plaintiff pension funds have not adequately alleged any actionable omissions.

  • February 05, 2024

    5th Circ. Casts Doubt On SEC's New Private Fund Rules

    The Fifth Circuit on Monday questioned the U.S. Securities and Exchange Commission's authority to pass recent regulations governing private fund advisers that have drawn sharp criticism from the industry, although one judge suggested the court could stop short of nixing the rules in their entirety.

  • February 05, 2024

    Catching Up With Delaware's Chancery Court

    Last week, Delaware's chancellor gave us 55 billion reasons to keep an eye on the First State in a case involving Tesla CEO Elon Musk's pay package, while the court of equity also took on cryptocurrency, artificial intelligence, space flight and country music.

  • February 05, 2024

    Hedge Fund Sues SPAC For Books On Failed Casino Deal

    A New York hedge fund on Monday sued a special purpose acquisition company for books and records related to a failed $2.6 billion deal to take a casino public in Manila, the Philippines.

  • February 05, 2024

    Security Co. Must Face Workers' 401(k) Fee Suit

    A California federal judge refused to allow a security company to escape a proposed class action accusing it of saddling retirement plan participants with hefty administrative fees, saying the workers put forward enough detail to keep their case in court.

  • February 05, 2024

    Byju's Lenders Want To Claw Back $533M Hedge Fund Pay

    The U.S. arm of Indian technology giant Byju's told a Delaware bankruptcy judge Monday the subsidiary will use its Chapter 11 case to try clawing back more than half a billion dollars transferred to a hedge fund that provided a pancake house as its address in regulatory filings.

  • February 05, 2024

    Norfolk Southern Slams Investors' Fraud Suit Over Derailment

    Norfolk Southern has asked a New York federal court to dump proposed class allegations that it misled investors by falsely touting its commitments to safety while embarking on risky cost-cutting operational and staffing changes that ultimately led to last year's fiery derailment in East Palestine, Ohio.

  • February 05, 2024

    Ripple Must Hand Over Financial Info As SEC Seeks Remedies

    Ripple Labs must hand over financial information about the institutional sales of its XRP token to the U.S. Securities and Exchange Commission after a magistrate judge sided with the regulator's claims that it needs the details to formulate its remedies request in the yearslong registration case.

  • February 05, 2024

    1st. Circ. 'Concerned' With Crypto Founder's Trial Roadblocks

    A First Circuit judge suggested on Monday that a trial judge may have "short-circuited" a cryptocurrency founder's defense against fraud charges by blocking testimony from two government case agents and a U.S. Commodity Futures Trading Commission attorney.

  • February 05, 2024

    Carnelian Energy Capital Secures $975M For 5th Fund

    Energy investment firm Carnelian Energy Capital LP on Monday revealed that it held the first and final closing of its fifth fund after securing $975 million in limited partner capital commitments.

  • February 05, 2024

    Leon Black Says Rape Accuser, Firm Can't Ax NY Suit

    Claims of sexual abuse and defamation leveled against former Apollo Global Management CEO Leon Black were not a matter of public interest, Black told a New York judge, arguing his accuser and her counsel at the time cannot dispose of his malicious prosecution suit by claiming they were protected by the state's anti-SLAPP law.

Expert Analysis

  • Crypto, Audit Cases Dominate SEC's Enforcement Focus In '23

    Author Photo

    Attorneys at Covington examine the U.S. Securities and Exchange Commission's fiscal year 2023 enforcement results, which marked the SEC's third consecutive year of increasing enforcement activity since Chair Gary Gensler took over in 2021 — this time driven by a focus on combating cryptocurrency-related scams and enforcing recordkeeping compliance.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
    Author Photo

    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • 5 Steps To Meet CFTC Remediation Expectations

    Author Photo

    After the U.S. Commodity Futures Trading Commission recently updated its enforcement policies, organizations should implement elements of effective remediation — from root-cause analyses to design effectiveness tests — to mitigate the risk of penalties and third-party oversight, say Jonny Frank and Chris Hoyle at StoneTurn Group.

  • An Informed Guide To Mastering Retirement Plan Forfeitures

    Author Photo

    When considering how to allocate departing retirement plan participants’ forfeitures, sponsors should consider recently filed lawsuits that allege Employee Retirement Income Security Act violations for using such funds to offset employer contributions, as well as proposed IRS guidance concerning how and when they must be used, says Eric Gregory at Dickinson Wright.

  • Asserting 'Presence-Of-Counsel' Defense In Securities Trials

    Author Photo

    As illustrated by the fraud trial of FTX founder Sam Bankman-Fried, defense attorneys in securities trials might consider arguing that counsel had some involvement in the conduct at issue — if the more formal advice-of-counsel defense is unavailable and circumstances allow for a privilege waiver, say Joseph Dever and Matthew Elkin at Cozen O'Connor.

  • Series

    ESG Around The World: Mexico

    Author Photo

    ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.

  • Crypto Has Democratized Trading In Bankruptcy Claims

    Author Photo

    Following the pandemic, there has been a wave of cryptocurrency bankruptcies and a related increase in access to information, allowing nontraditional bankruptcy investors to purchase claims and democratizing a once closed segment of alternative investing, says Joseph Sarachek at Strategic Liquidity.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

    Author Photo

    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • What SEC Retreat In Ripple Case Means For Crypto Regulation

    Author Photo

    The U.S. Securities and Exchange Commission has chosen a regulation-by-enforcement approach to cryptocurrency policy rather than through rulemaking, but the agency's recently aborted enforcement action against two Ripple Labs executives for alleged securities law violations demonstrates the limits of this piecemeal tactic, says Keith Blackman at Bracewell.

  • SEC Whistleblower Action Spotlights Risks For Private Cos.

    Author Photo

    The U.S. Securities and Exchange Commission’s recent whistleblower action against Monolith Resources holds important implications for private companies, who could face unprecedented regulatory scrutiny amid the agency's efforts to beef up environmental, social and governance reporting and enforcement, say attorneys at Wiley.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

    Author Photo

    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • DOL's Retirement Security Rule Muddies Definitional Waters

    Author Photo

    The latest proposal changing how the Employee Retirement Income Security Act defines "investment advice," which the White House framed as a narrowly tailored regulation, would implement a sweeping regulatory overhaul that changes how the retirement services industry interacts with plans, participants and account owners, says Michael Kreps at Groom Law Group.

  • A Deep Dive Into FSOC's Expansion Of Nonbank Oversight

    Author Photo

    The Financial Stability Oversight Council's new nonbank guidance, designed to provide the council with added flexibility in risk response, not only modifies the process for designating nonbanks as systemically important institutions, but also sends a clear signal that the FSOC may assume a more active role in addressing financial stability risks across the economy, say attorneys at Simpson Thacher.

  • 9th Circ. ERISA Ruling Informs DOL's New Fiduciary Proposal

    Author Photo

    The Ninth Circuit's reasoning in its recent Bugielski v. AT&T decision illustrates the importance of the U.S. Department of Labor's proposals to expand the reach of Employee Retirement Income Security Act third-party compensation disclosure rules and their effect on investment adviser fiduciaries, says Jeff Mamorsky at Cohen & Buckmann.

  • AI Can Help Lawyers Overcome The Programming Barrier

    Author Photo

    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

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!