U.S. Bank NA is looking for a victory on the final claim left in Ambac Assurance Corp.'s lawsuit over the bank's handling of proceeds from a mortgage-backed securities trust allegedly backed by bad Countrywide loans.
A class action seeking to represent thousands of American Airlines retirees who say the airline’s use of outdated mortality tables means they’re losing benefits shouldn’t be certified since some pensioners would suffer a financial hit if the plaintiffs prevail, American told a Texas federal judge.
Global law firm K&L Gates LLP is bolstering its New York office with the addition of an attorney focusing on sports and entertainment from Loeb & Loeb LLP.
Swiss law firm Bär & Karrer advised a Deutsche Börse Group unit on a CHF 389 million ($402 million) purchase of a majority stake in fund distribution platform UBS Fondcenter from the Swiss banking giant, the companies said Tuesday.
The U.S. Supreme Court on Tuesday turned away a suit accusing a SunEdison retirement plan committee of improperly letting workers invest in the failing company’s stock, days after ruling in a case against IBM that turned on the same high court precedent from 2014.
Private equity-backed CityFibre will buy FibreNation from TalkTalk Group for £200 million ($261 million) to become the U.K.’s third national digital infrastructure platform, the companies said Tuesday.
Dentons US LLP and a Virginia company have been accused of failing to pay a $1.7 million arbitration award for attorney fees that was issued almost a year ago, according to a suit filed in New York state court.
The Federal Reserve's supervisory czar said Friday that he wants to bring more clarity and predictability to the agency's oversight of banks, outlining a series of proposals including creating an online database of old rule interpretations and reining in examiners' use of regulatory warnings.
Online lender Curo is fighting back against investors' proposed securities class action accusing it of concealing the impact of an aggressive product transition on its bottom line, saying shareholders have failed to show how the company misled them.
The U.S. Chamber of Commerce on Friday joined TIAA in urging the U.S. Supreme Court to review the revival of a proposed ERISA class action against the University of Pennsylvania, arguing that a divided Third Circuit panel wrongly lightened the pleading standard in the suit.
In our latest roundup of deal-makers on the move, Sidley Austin snagged a private equity pro from Linklaters for its Singapore office, Baker Botts bolstered its media and telecommunications practice and Hogan Lovells added a veteran capital markets practitioner in London.
When the U.S. Supreme Court ruled Tuesday that orders denying relief from stays in a Chapter 11 case are final orders that must be appealed immediately, it gave bankruptcy attorneys clarity that a court's ruling is indeed final and the ability to proceed with confidence that early decisions can't be overturned later.
The U.S. Securities and Exchange Commission urged a Colorado federal court to keep alive its suit accusing Mediatrix Capital Inc. of defrauding investors out of millions through unregistered offerings and stolen funds, arguing that contrary to the adviser's argument, the investment funds they sold do constitute securities.
In this week’s Taxation with Representation, Visa acquires fintech company Plaid for $5.3 billion, a Blackstone real estate trust makes a $4.6 billion play for two Vegas hotels, and Saudi Aramco’s IPO raises another $3.8 billion.
A global cryptocurrency market maker and an investor filed a $1.8 million lawsuit in New York federal court accusing Fr8 Network Inc. and two principals of fleecing them with a fraudulent token offering.
The past week in London has seen a tech company sue an online football stock exchange, a number of seafood distributors and their insurers sue cargo company Maersk, and several hotels add to Visa and MasterCard's swipe-fee class action woes. Here, Law360 looks at these claims and more.
Firmspace has reportedly leased nearly 35,000 square feet in Chicago, GDF Properties is said to have paid $6.3 million for two Florida industrial buildings and Systra is reportedly leasing 14,295 square feet in New York.
A New York federal court should toss a legal malpractice suit that contends a law firm schemed to wrongfully divert more than $150 million from the assignee of a trust fund, as the assignee fails to substantiate its claim, the firm has contended.
Bankrupt investment firm Highland Capital Management told a Texas judge late Wednesday that the appointment of a Chapter 11 trustee to manage the debtor during its bankruptcy case would be the worst possible option in the proceedings and is unnecessary given recent changes in the company's oversight.
The Second Circuit looked tempted Thursday to erase the conviction of ex-real estate investment trust chief financial officer Brian Block, after his lawyer accused a key trial witness of hiding an offer of financial support that came from a friend who filed a whistleblower complaint against Block's former company.
U.S. Securities and Exchange Commissioner Robert Jackson, who has vigorously opposed many of the agency's deregulatory moves that he considered a threat to investor protection, said Thursday he will leave office on Feb. 14 to teach at New York University School of Law.
The U.S. Securities and Exchange Commission told the U.S. Supreme Court that closing off the agency's ability to obtain disgorgement in federal court cases would throw a wrench into enforcing securities law, pushing back against challengers that argue such relief strays beyond the bounds of the agency's statutory authority.
Activist investor Elliott declared Thursday that it will not tender its Altran shares to the company's suitor Capgemini, even after Capgemini's buyout offer was sweetened to €3.73 billion ($4.15 billion), and added it may continue to build its stake in the engineering consulting firm.
Boston-based HarbourVest Partners, working with Debevoise & Plimpton, has closed its latest fund after receiving $2.61 billion from limited partners, with plans to target private equity, growth equity and venture capital investments in businesses based in North America, the firm said Thursday.
A Pennsylvania federal judge on Wednesday allowed a Tennessee businessman to exit a lawsuit claiming one of his business partners illegally drained millions of dollars from a central Pennsylvania fire brick manufacturer’s pension plan.
The U.S. Supreme Court ruled last week in Ritzen v. Jackson Masonry that orders determining motions for relief from the automatic stay in bankruptcy cases must be appealed within 14 days of their entry, which will ensure greater certainty in the overall outcomes of cases, says Elyssa Kates at BakerHostetler.
This year corporate board nominating and governance committees may face increased pressure as investor demands focus on issues such as the number of corporate boards on which directors serve, board refreshment and diversity, say attorneys at Cleary.
Last year, three court decisions addressing the Financial Institutions Reform, Recovery and Enforcement Act's civil monetary penalties provision — two at the final judgment stage and one at the pleadings stage — expanded FIRREA jurisprudence and remind us why this statute cannot be ignored, say attorneys at Morgan Lewis.
A recent proposal from the U.S. Securities and Exchange Commission would allow more investors to participate in private offerings, but divisions at the SEC and among investment advocates suggest further debate may be ahead before a finalized rule emerges, say Michael Gold and Nicholas Stewart at Saul Ewing.
During the last 10 years, the need to embrace change was fundamental for law firms, and that change affected associates in many ways — most, but not all, for the better, says Brad Kaufman, co-president of Greenberg Traurig.
Oral arguments in Thole v. U.S. Bank suggested the U.S. Supreme Court is willing to explore whether Employee Retirement Income Security Act plaintiffs have constitutional standing to sue over an adequately funded plan — even though the lower courts sidestepped the issue, say attorneys at King & Spalding.
In Millennium Lab, the Third Circuit recently upheld the Delaware bankruptcy court's authority to approve a Chapter 11 plan containing nonconsensual liability releases, offering guidance on the factors courts may consider in deciding whether to approve them, says Jane VanLare of Cleary.
Last year, the U.S. Department of Justice maintained aggressive enforcement efforts in the health care industry, again relying heavily on the False Claims Act, but the agency is also taking steps to guide those efforts toward fairness and consistency, say attorneys at Mintz.
In National Retirement Fund v. Metz Culinary Management, the Second Circuit recently held that the pension’s lower interest rate violated the Employee Retirement Income Security Act's withdrawal liability standards, which will benefit employers in an area of law that tends to favor funds, say Robert Perry and Todd Girshon of Jackson Lewis.
In their new book "Democracy and Equality: The Enduring Constitutional Vision of the Warren Court," Geoffrey Stone and David Strauss provide valuable context for U.S. Supreme Court decisions under Chief Justice Earl Warren that have profoundly affected the country, but their overly protective attitude sometimes obscures reality, says Federal Circuit Judge Timothy Dyk.
A newly proposed rule from the U.S. Securities and Exchange Commission on public companies' relationships with their auditors could make the current auditor independence framework easier to comply with, and mitigate competition pressure from issues that should not reasonably threaten an auditor’s objectivity, say Charles Smith and Andrew Fuchs at Skadden.
For outside firms wondering how to best support busy in-house lawyers, several practices can help navigate critical legal issues and novel business challenges while strengthening the working relationship, says Virginia Hudson, associate general counsel at Capital One.
In the 50 years since the Racketeer Influenced and Corrupt Organizations Act was passed, courts' attempts to clarify the statute have had some success, but many interpretive dilemmas remain unresolved, says Randy Gordon of Barnes & Thornburg.
Because the American Bar Association's new rule on diversity continues to use the Model Rules of Professional Conduct as a cultural bludgeon, states should create independent codes limited to constitutionally valid purposes of attorney regulation, says Bradley Abramson of Alliance Defending Freedom.
As the late Paul Volcker's efforts to rein in banks after the financial crisis come under attack, now is a good time to revisit how his namesake rulemaking came to pass, and consider the risks of relaxing the limits on bank proprietary trading, say former Michigan Sen. Carl Levin and former Senate counsel Tyler Gellasch.