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Asset Management

  • April 23, 2019

    Adviser Admits Paying NCAA Football Players In Hoops Trial

    A former financial adviser turned agent for federal investigators testified Tuesday in the New York federal trial of two men charged with funneling bribes to college basketball coaches that he had paid thousands of dollars to college football players, a bombshell admission that hints at wider corruption in college sports. 

  • April 23, 2019

    'Deception And Greed' Drove Platinum Fraud, Jury Hears

    A New York federal jury on Tuesday heard opening arguments in the long-awaited fraud trial of former Platinum Partners executives accused of conning the now defunct $1 billion hedge fund's investors, with a prosecutor saying the case boils down to "deception and greed."

  • April 23, 2019

    Puerto Rico Fed Board Wants High Court Take On Its Makeup

    Puerto Rico's financial oversight board Tuesday asked the U.S. Supreme Court to overturn a First Circuit finding that its members were unconstitutionally appointed, saying the decision ignored two centuries of law on how U.S. territories are run.

  • April 23, 2019

    Platinum Affiliates Say ‘Wagoner’ Kills Liquidators' Claims

    More than a dozen sets of defendants in a suit over the collapse of Platinum Partners say a Second Circuit rule prevents the hedge fund’s liquidators from suing them for Platinum’s own misconduct.

  • April 23, 2019

    Emulex Doomed By Procedural Issues In Tender Offer Case

    The U.S. Supreme Court’s unusual decision Tuesday to drop an appeal after hearing oral arguments caught many court watchers off guard, yet a procedural issue unique to Emulex Corp.'s dispute involving the standard for bringing certain tender offer claims is the likely culprit.

  • April 23, 2019

    2nd Circ. Presses Pause On Madoff Foreign Clawback Ruling

    Until the U.S. Supreme Court responds to an impending review bid, the Second Circuit will not issue a mandate on its ruling that the trustee for Bernie Madoff’s fraudulent investment firm can claw back billions in Ponzi scheme proceeds from foreign parties.

  • April 23, 2019

    Big Biz Universally Beefing Up Compliance Units, KPMG Finds

    Big companies and other organizations across a variety of industries are boosting their ethics and compliance efforts, particularly in internal investigations, according to a new report from KPMG LLP.

  • April 23, 2019

    French Tax Case Could Moot Poland Fee Row, Investors Say

    Because of proceedings in a French court, a Massachusetts federal court should stay a bid by the Polish government to collect $2.6 million in legal fees from American investors who sued over the country’s tax laws, the investors have argued.

  • April 23, 2019

    Abraaj Partner To Be Tried Separately From PE Firm's CEO

    A Manhattan federal judge targeted November for Abraaj Group managing partner Mustafa Abdel-Wadood to stand trial on fraud charges, after hearing Tuesday it could take two years for his ex-boss, CEO Arif Naqvi, to be extradited from England.

  • April 23, 2019

    Real Estate Rumors: Oaktree, United Community Bank, Natixis

    An Oaktree venture is reportedly seeking north of $330 million for the Chicago Board of Trade Building, Home Communities is said to have scored $18.52 million in construction financing from United Community Bank for a Florida senior living project, and Natixis has reportedly provided $734 million in CMBS debt for multiple California residential towers.

  • April 23, 2019

    Disclosing Multinationals' Tax Data Becoming Norm

    Making public the information about tax activities that multinational corporations disclose to their national governments is moving toward becoming a global norm, according to a study published Tuesday by a coalition of tax-fairness advocacy groups.

  • April 23, 2019

    9th Circ. Cements DOL's $7.4M Win In 401(k) Fee Battle

    City National Corp. can’t get out of paying $7.4 million to the U.S. Department of Labor to atone for collecting millions more than it should have in fees for 401(k) plan recordkeeping, the Ninth Circuit held Tuesday.

  • April 23, 2019

    British Land-Sainsbury Venture Sells 12 Stores For $555M

    A joint venture of British Land Co. PLC and J Sainsbury PLC has reached a deal to sell 12 Sainsbury's grocery stores to Realty Income Corp. for £429 million ($555 million), according to an announcement from the U.K. real estate investment trust on Tuesday.

  • April 23, 2019

    Claims Trimmed In $2.9M Health Care Investment Fraud Suit

    An investment firm's securities fraud suit accusing two former business partners of stealing $2.9 million through a bogus health care venture largely survived Tuesday after a Florida federal judge tossed two of five claims due to insufficient pleading.

  • April 23, 2019

    Ex-Shkreli Atty Splitting Hairs Over 'Duty,' Gov't Says

    Prosecutors sought to preserve the conviction of Martin Shkreli's former attorney Evan Greebel on Monday, telling the Second Circuit that his claim that jury instructions used the wrong definition of a lawyer's "duty" was an attempt to draw a "fine-to-nonexistent line" that made no difference at his trial.

  • April 23, 2019

    Keppel REIT Drops $221M On Seoul Office Tower

    Keppel REIT has reached a deal to buy a 99.38% stake in a Seoul office tower from a PGIM Real Estate fund for 252.6 billion Korean won ($220.6 million), the Singapore real estate investment trust announced on Tuesday.

  • April 23, 2019

    Broker Asks To Bring Back Expert In SEC’s ‘Layering’ Suit

    Lek Securities Corp. urged a New York federal court Monday to rethink its decision to exclude certain expert testimony in the U.S. Securities and Exchange Commission’s suit accusing Lek of helping a foreign trader manipulate the market through a practice known as “layering.”

  • April 23, 2019

    Neuberger Berman Clinches $1.7B Private Debt Fund

    Private investment manager Neuberger Berman Group LLC said Tuesday that it has closed its third debt-focused private equity fund after bringing in $1.7 billion from limited partners, with plans to invest in the junior debt of PE-backed companies that are based in the U.S.

  • April 23, 2019

    Justices Drop Emulex Appeal Over Tender Offer Suits

    The U.S. Supreme Court on Tuesday punted a decision about the appropriate standard for alleging false statements and omissions related to tender offers and whether private plaintiffs can bring such lawsuits at all. 

  • April 22, 2019

    Vanderbilt To Pay $14.5M In ERISA Class Action Deal

    Current and former Vanderbilt University employees urged a Tennessee federal judge on Monday to sign off on a deal in which the school will pay $14.5 million to settle claims that its employee retirement plan overcharged participants and invested in poorly performing products.

Expert Analysis

  • Rebuttal

    Jury Trials, Though In Decline, Are Well Worth Preserving

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    In a recent Law360 guest article, the author applauded the disappearance of jury trials as an inefficient, costly mechanism, but in doing so he overlooked the greater value of jury trials for our justice system, says Stephen Susman, executive director of the Civil Jury Project at NYU School of Law.

  • A Broader View Of The US Supreme Court Bar

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    During the past 15 years, three widely read articles bolstered by starstruck media have promulgated the incorrect perception — sorely in need of revision — that the U.S. Supreme Court bar is limited to a handful of elite lawyers, says Lawrence Ebner of Capital Appellate Advocacy.

  • Opinion

    Post-Lucia, It’s Deja Vu With The SEC

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    Given last year's U.S. Supreme Court ruling that the U.S. Securities and Exchange Commission administrative law judge who tried Raymond Lucia's case had not been constitutionally appointed, Lucia should not be facing an SEC ALJ again on remand, says Joel Nolette of Mintz.

  • New Chancery Guidance On Books And Records Law

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    The Delaware Court of Chancery’s recent decisions in Schnatter, Tempur-Sealy and CHC Investments further delineate the metes and bounds of a stockholder's right to obtain a company's books and records, say attorneys with Winston & Strawn.

  • Justices Could Trigger Sea Change For Tender Offer Suits

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    U.S. Supreme Court oral arguments Monday in Emulex v. Varjabedian — a case that could alter the landscape of tender offer litigation under Section 14(e) of the Securities Exchange Act — confirmed the potentially significant nature of the forthcoming decision, as well as the justices’ sharp divide on the issues, say attorneys with Ropes & Gray.

  • Opinion

    Jury Trials Are In Decline For Good Reason

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    A recent Law360 article reported on federal judges bemoaning jury trials' nationwide decline, but these laments are unfounded as jury trials have been replaced by better alternatives, says J.B. Heaton of J.B. Heaton Research.

  • New SEC Staff Guidance Could Leave Mutual Funds In A Bind

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    Recent U.S. Securities and Exchange Commission staff guidance asked mutual funds to postpone the effective date of their registration statements if they are unable to respond to staff comments in a timely fashion. But complying with such a request could leave a fund without an effective registration statement, say Gretchen Passe Roin and Seth Davis of WilmerHale.

  • Series

    Why I Became A Lawyer: A Circuitous Path To The Law

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    Instead of going to college after high school, I followed in my father’s footsteps and became an electrician. Later I became an electrical engineer, and then an IP attorney. Every twist and turn along the way has made me a better lawyer, says Joseph Maraia of Burns & Levinson.

  • Employer Considerations When Using Garden Leave Clauses

    Excerpt from Lexis Practice Advisor
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    Garden leave — when a departing employee remains on company payroll and cannot compete with the employer — is an attractive alternative to regular noncompetes. Elisaveta Dolghih of Lewis Brisbois discusses the advantages and disadvantages of garden leave provisions and provides drafting best practices.

  • Despite TurnKey, SEC Will Try To Regulate Most Digital Assets

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    A careful reading of the U.S. Securities and Exchange Commission's new digital assets framework suggests that the TurnKey no-action letter — issued on the same day — is a rare exception to the SEC's general approach, say Deborah Meshulam and Benjamin Klein of DLA Piper.