Thousands of former PricewaterhouseCoopers LLP workers have urged a New York federal judge to reject the company's bid to decertify their class action accusing PwC of violating the Employee Retirement Income Security Act's standards for calculating lump-sum retirement benefits.
Investors in title insurance group Fidelity National Financial Inc. sued the company's executives and others in Delaware for allegedly forcing through a $1.8 billion acquisition of annuity and life insurance provider F&G earlier this year, saying the deal primarily served the personal interests of the company's chairman.
Online learning platform Skillshare said Monday it raised $66 million from an investor group led by OMERS Growth Equity that the Gunderson Dettmer-steered company will use to spur international and domestic growth.
Gibson Dunn & Crutcher LLP has announced that a former Skadden Arps Slate Meagher & Flom LLP partner joined the firm's New York office as a partner this month.
A New York federal judge held Monday that a group of California investors who alleged that HSBC Hong Kong aided a $37 million Ponzi scheme lacked jurisdiction to sue the bank and tossed the suit without prejudice.
Thompson Hine LLP said Monday it added two attorneys to its corporate transactions and securities practice group from in-house positions to focus on financial technology, broker-dealer regulations and fund governance.
Interactive Brokers LLC has agreed to pay $38 million in fines to resolve claims that the electronic trading platform failed to file suspicious activity reports for certain securities trades and ran afoul of anti-money laundering rules, regulators said Monday.
Former Land O'Lakes employees unhappy over the company's 401(k) investment lineup shouldn't be allowed to pursue their proposed class action because they didn't put their own retirement savings into the allegedly shoddy investment options they cite, the company has told a Minnesota federal judge.
Singapore state investment fund Temasek on Monday pulled its SG$4.08 billion ($3 billion) offer to take a controlling stake in Keppel, saying the conglomerate's poor financial performance amounts to a material adverse change that scuttles the deal.
A California federal judge said Uber must face a proposed securities class action alleging it duped shareholders about its numerous corporate scandals and downplayed risks ahead of its May 2019 initial public offering, saying there's enough to suggest that Uber may have overhyped its business prospects.
A former compliance examiner accused of stealing information from the U.S. Securities and Exchange Commission sought a rare criminal bench trial over prosecutors' objections on Monday, saying it is the only way to hold a speedy trial during the pandemic.
Greystar Real Estate Partners, advised by Jones Day, said Monday that it has finalized its second commercial real estate debt fund after securing $600 million from investors, with plans to primarily invest in debt issued by U.S.-government sponsored entities.
Huntington Bancshares Inc. has struck a $10.5 million deal to settle a proposed class action that challenges its decision to make allegedly underperforming company-owned mutual funds the centerpiece of its 401(k) plan.
A Delaware bankruptcy judge on Friday rejected a motion for a committee to represent stockholder interests in the case of bankrupt biopharmaceutical venture Vivus Inc, finding that the company's reports of insolvency and inability to cover shareholder claims were not unreasonable.
JPMorgan Chase & Co. in a letter Friday pointed to two recent decisions in New York federal court and the Third Circuit that it says support the rejection of a class certification bid in an antitrust suit over interest rate swaps trading.
A White House task force issued policy proposals on Thursday that would give Chinese companies until 2022 to either comply with U.S. audit requirements or get delisted from U.S. exchanges.
Winston & Strawn LLP has announced the launch of a new team that will focus on helping corporate boards and management teams navigate ethical investing and related legal issues, joining a trend among law firms as clients take a harder look at their investment practices.
Stamps.com urged the Delaware Chancery Court on Friday to toss an investor's claims that the company's so-called "back-end" deals with postage resellers bilked the U.S. Postal Service out of millions of dollars and crushed the company's stock, arguing that the deals were legitimate business arrangements that actually benefited shareholders.
Investment firm Mill Road Capital, represented by Foley Hoag LLP, on Friday announced its offer to buy out Huttig Building Products in a deal valuing the company at about $71.5 million, saying it understands the difficulties faced by microcap companies in creating value for shareholders.
A $15 million offer from a group that includes actor and former wrestler Dwayne "The Rock" Johnson got a Delaware bankruptcy judge's nod Friday as the winning bidder for the XFL's struggling assets, potentially salvaging another season of spring football.
An ERISA suit accusing AT&T Services Inc. of wasting its workers' retirement savings on unreasonable fees and engaging in prohibited transactions will move forward as a class action after a California federal judge gave her blessing to a nearly 250,000-member class.
Latham & Watkins LLP has brought on a Simpson Thacher & Bartlett LLP partner who is experienced in advising private equity firms and leading companies on a range of sophisticated transactions to the firm's transactional tax practice in the Bay Area.
The U.S. Securities and Exchange Commission has fined private equity real estate firm Rialto Capital Management $350,000 for recouping costs and expenses from the wrong investment funds, according to a settlement Friday.
World Wrestling Entertainment Inc. can't avoid a proposed investor class action, because investors have been persuasive in alleging that the company misled them about its souring relationship with Saudi Arabia, a New York federal judge has ruled.
In this week's Taxation With Representation, Marathon Petroleum sells Speedway in a $21 billion deal, Teladoc Health and Livongo ink a $18.5 billion merger, and a $16.3 billion Siemens buy creates the world's biggest cancer care provider.
Private investment fund sponsors seeking additional sources of capital to protect or enhance their portfolios may consider sidecar vehicles to help navigate pandemic-related liquidity issues, but should carefully analyze whether such structures would breach existing fund documents or agreements with limited partners, say Michael Suppappola and Emily O'Brien at Proskauer.
As an attorney with cerebral palsy, Danielle Liebl at Reed Smith says that while the 30-year-old Americans with Disabilities Act has protected her against discrimination, the legal industry must do more to accommodate lawyers with disabilities and make them more comfortable in self-identifying.
Michael Karpen and Richard Eckman at Troutman Pepper analyze New York state’s pending Small Business Truth in Lending Act, including the types of transactions, lenders and financing providers to which the statute applies, specific disclosure requirements, and unique challenges for the merchant cash advance industry.
Many small towns and rural counties have few lawyers or none at all, which threatens the notion of justice for all Americans and demands creative solutions from legislators, bar associations and law schools, says Patricia Refo, president of the American Bar Association.
The Delaware Chancery Court’s recent decision in HomeFed amplifies the court's focus on discussions between controller and minority stockholders as the basis to conclude that business judgment review is unavailable, and suggests a trend toward a more restrictive judicial approach, say attorneys at Fried Frank.
Advances in legal technology are often accompanied by bombastic overstatements, but it is important to separate the wheat from the chaff by looking at where various technologies stand on the hype curve, says Lance Eliot at Stanford Law School.
The American Bar Association should revise its recently approved best practices on third-party litigation funding as they do not reflect how legal finance actually works and could create confusion among lawyers, says Andrew Cohen at Burford Capital.
In the final year of any presidential administration, there is an undeniable appetite on the part of large law firms for government-savvy legal talent, but firms need to first consider how they will actually utilize their new star hire, says Michael Ellenhorn at Decipher.
Delegating legal work to robots involves several risks, including running afoul of statutes dictating unauthorized practice of law, but with the right precautions, law firms can lawfully employ artificially intelligent chatbots that can imitate human conversations, say attorneys at Haynes and Boone.
The challenges of administering bar exams this year have put the future of the profession in jeopardy, but the American Bar Association at its ongoing annual meeting can adopt a resolution that would urge jurisdictions to take emergency actions with respect to licensure of new attorneys, says Nicholas Allard, former president of Brooklyn Law School.
Regardless of whether California passes its recently revised bill mandating that public companies appoint board members from underrepresented communities, nominating committees should comply with the spirit of these efforts, and be prepared to discuss their plans publicly and with investors, say attorneys at Fenwick.
The COVID-19 pandemic has changed the way judges work, but how has it impacted the volume of work product they generate? Ben Strawn and Omeed Azmoudeh at Davis Graham investigate using data from the PACER federal courts registry.
The COVID-19 crisis represents an inflection point for law firm culture, and smart firm leaders will take advantage of this moment to build innovation-welcoming environments that support partners, associates, business services teams and clients alike, say Jennifer Johnson at Calibrate Legal and Kathleen Pearson at Pillsbury.
Greater access to virtual court proceedings during the pandemic means an increased likelihood that legal arguments will jump from the courtroom to the court of public opinion, so counsel must tailor statements with the client's reputation in mind, says Mike Dolan at Finsbury.
The Delaware Supreme Court recently affirmed the Chancery Court's valuation of Jarden's stock price, demonstrating that the high court's earlier appraisal opinions should not be read to impose rigid constraints on this process, and underscoring the lower court’s latitude in determining fair value, say Monty Donaldson and Jackson Warren at Montgomery McCracken.