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.
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."
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.