Goldman Sachs Group Inc.'s $2.9 billion settlement with the U.S. government and others over its role in the 1Malaysia Development Berhad scandal was a blockbuster, but the deal is stirring fresh criticism as the latest big-bank criminal resolution to come without a compliance monitor requirement.
Law360 Asset Management ASSET MANAGEMENT

Monday, October 26, 2020 Follow Law360



Goldman Sidesteps Monitor In 1MDB Deal, Raising Eyebrows

Goldman Sachs Group Inc.'s $2.9 billion settlement with the U.S. government and others over its role in the 1Malaysia Development Berhad scandal was a blockbuster, but the deal is stirring fresh criticism as the latest big-bank criminal resolution to come without a compliance monitor requirement.

Read full article »

Equity Owners Want To Intervene In $15B Student Loan Fight

Owners of residual equity in a once-$15 billion fleet of student loan trusts asked to intervene late Thursday in a Chancery Court battle over oversight and collection of the trusts' loans, citing a need to protect their right to sue over allegedly "horrific" loan mismanagement.

Read full article »

Hotel Group To Get Early Contract Ruling In €93M Apollo Suit

A judge agreed on Friday to settle some contract disputes early in a lawsuit brought by a Spanish hotel group against Apollo Capital Management over a stalled €93 million ($110 million) resort deal, but warned that the result might mean an early demise for the hotelier's case.

Read full article »

Del. Justices Sink Solera's Bid For Appraisal Action Coverage

The Delaware Supreme Court on Friday ruled that Solera Holdings Inc. cannot pursue coverage from several excess insurers for tens of millions in costs it incurred in a stockholder appraisal action challenging its buyout by Vista Equity Partners, reversing a lower court and finding that the action does not qualify as a covered "securities claim."

Opinion attached | Read full article »

MVP: Weil's Andrew Chizzik

Andrew Chizzik, a partner in Weil Gotshal & Manges LLP's private funds practice, guided Brookfield Asset Management in raising its record-breaking $20 billion infrastructure fund, earning him a spot as one of Law360's 2020 Fund Formation MVPs.

Read full article »


SEC's Peirce Has 'Reservations' About Recent Agency Action

A U.S. Securities and Exchange Commission member who has offered rare dissents to two enforcement actions in the past six weeks issued a statement Friday saying she supported a third recent agency action, "though not without reservations."

Order attached | Read full article »

Crowdcube, Seedrs Ask CMA To Fast-Track Deal Review

Crowdfunding platforms Crowdcube and Seedrs asked the U.K.'s antitrust regulator to fast-track its review merger directly to an in-depth investigation as the companies push their "plan to create the world's largest private equity marketplace."

Read full article »


Financial Services Co. Head Cops To $4.4M Fraud Scheme

The head of a financial services firm charged with scamming at least 18 investors out of about $4.4 million pled guilty to conspiracy to commit securities fraud and wire fraud and will pay back the money he took, prosecutors said.

1 document attached | Read full article »


DaVita Inks $50M Deal To End Private Insurance Push Suit

DaVita Inc. shareholders asked a Delaware federal judge Friday to approve a $50 million deal with the kidney dialysis company's executives that would end a derivative action accusing DaVita of facilitating an illicit scheme to push dialysis patients out of government-backed health insurance.

Memorandum attached | Read full article »

US Bank Dodges Ex-Employee's Age Bias Suit At 8th Circ.

A former U.S. Bank employee can't claim the company fired her because of her age after the Eighth Circuit on Friday upheld a district court's decision to toss the suit, finding that the employee proffered little evidence showing her firing was discriminatory.

Opinion attached | Read full article »

Racketeering Suit Rewrite Bid Shows 'Bad Faith,' BitMEX Says

The offshore company that owns the BitMEX cryptocurrency exchange told a California federal judge Thursday that he shouldn't let traders rewrite their lengthy suit alleging the company and BitMEX's co-founders engaged in a vast racketeering and market-manipulation scheme.

Memorandum attached | Read full article »

Judge Says Trading Tech Feud Falls Outside Antitrust Realm

A Pennsylvania federal judge tossed a lawsuit Friday that he said tried to "shoehorn" breach of contract claims against a financial services and software company into an antitrust matter.

Order attached | Read full article »

Fidelity Flubbed $100M Charitable Stock Sale, Economist Says

A California federal court overseeing a Zoom bench trial over Fidelity's handling of a $100 million charitable stock sale heard from an economist Friday who testified that the company was "irresponsible" in its execution of the money-losing sale.

Read full article »

DC Circ. Upholds CCO's Fine For Missing 'Clear Red Flags'

The D.C. Circuit said Friday that a broker-dealer's former chief compliance officer cannot overturn the fines levied against him for failing to ask questions when a new hire sent $150,000 to a barred broker's firm.

Order attached | Read full article »

UK Litigation Roundup: Here's What You Missed In London

The past week in London has seen electronics giant Philips take on another Chinese rival over patents, automaker Daimler AG face another group action, and a Canadian pension fund and dozens of others sue troubled security firm G4S. Here, Law360 looks at those and other new claims in the U.K.

Read full article »


Australia's Link Group Rejects Nearly $2B PE Takeover Bid

Australian share-registry operator Link Group on Friday spurned a AU$2.76 billion ($1.96 billion) takeover bid lobbed by private equity firms Carlyle Group and Pacific Equity Partners as too low, but left the door open for continued negotiation.

Read full article »


Taxation With Representation: Wachtell, Gibson, Hunton

In this week's Taxation With Representation, ConocoPhillips inks a $13 billion merger with Concho Resources, Pioneer Natural Resources buys Parsley Energy for $4.5 billion, and real-estate firm Pretium acquires Front Yard for $2.4 billion.

Read full article »



Loan Docs Should Standardize Libor Replacement Language

Lenders should consider a universal descriptive amendment to replace Libor in loan agreements in order to simplify the process, lower costs compared to bespoke diligence, and foster operational consistency, proposes Roger Chari at Duane Morris.

Read full article »

Key Issues In Potential High Court Fraudulent Transfer Case

If the U.S. Supreme Court decides to hear Deutsche Bank Trust v. Robert R. McCormick Foundation, concerning a Bankruptcy Code safe harbor provision, it would have to reconcile creditors' rights to challenge fraudulent transfers with the need for finality in securities transactions, say Justin Ellis and Lauren Dayton at MoloLamken.

Read full article »

Law Firm Tips For Attracting, Retaining Attys During Pandemic

Steps law firms can take to attract and keep the best lawyers amid the pandemic include diversifying expertise to meet anticipated legal demands, prioritizing firm culture, and preparing for prospective partners' pointed questions, says Brian Burlant at Major Lindsey.

Read full article »


1st Circ. Judge Juan Torruella Dead At 87

First Circuit Judge Juan R. Torruella, a Puerto Rico native who spent more than four decades on the federal bench, has died at age 87, the court confirmed Monday.

Read full article »


As Insurance Costs Climb, Law Firms Seek To Self-Insure

Soaring insurance premiums in recent months have prompted Linklaters LLP and an increasing number of law firms to consider an alternative to handing over money to commercial insurers: forming their own insurance companies.

Read full article »

Hilton REIT Park Hotels Chooses In-House Atty For GC

Hilton Worldwide's real estate investment trust Park Hotels & Resorts Inc. announced that it promoted its deputy general counsel to general counsel and chief legal officer.

Read full article »

Insurer Gets Quick Win For Coverage Suit Against Atty

A North Dakota federal judge said an insurance company was not on the hook to defend or indemnify Bredahl & Associates PC in a legal malpractice suit, finding that the attorney should have known of the suit coming against him before he renewed the policy.

Read full article »


15 Minutes With Hain Celestial Group's General Counsel

During her in-house legal career, Kristy Meringolo has been drawn to certain companies because of their missions, such as Avon's attention to empowering women and Hain Celestial Group's focus on organic products. Here, she discusses how her team supports Hain's mission, as well as how she advocates for other women in the legal profession.

Read full article »

Search full listings or advertise your job opening
Law360 Rising Stars




Air Canada

American International Group Inc.

American Kidney Fund Inc.

Ames & Gough


Ares Management Corp.

Aviva Investors Holdings Ltd.

Avon Products Inc.

Boston University

Brookfield Asset Management Inc.

Carlyle Group LP

Choice Hotels International Inc.

Commonwealth Bank of Australia

Computershare Ltd.

Concho Resources Inc.

ConocoPhillips Co.

Cornell University

DaVita Inc.

Daimler AG

Deutsche Bank AG

Energous Corp.

FTI Consulting Inc.

Fidelity Investments LLC

Financial Industry Regulatory Authority Inc.

Fordham University


Genstar Capital LLC

Georgetown University

HDR Global Trading Ltd.

Hilton Worldwide Holdings Inc.

JPMorgan Chase & Co.

MS Amlin PLC

Major Lindsey & Africa LLC


Microsoft Corp.

Mobile TeleSystems OJSC

Morgan Stanley

Network Rail Ltd.

Norddeutsche Landesbank Girozentrale

Park Hotels & Resorts Inc.

Pioneer Natural Resources Co.

Progress Rail Services Corp.

Quantum Energy Partners

Royal Philips NV

SS&C Advent

Solera Holdings Inc.

The Bank of Nova Scotia

The Goldman Sachs Group Inc.

The Hain Celestial Group Inc.

Transworld Systems Inc.

U.S. Bancorp


Vista Equity Partners

Wal-Mart Stores Inc.

Wells Fargo & Co.

Wilmington Trust Corp.

Xiaomi Corp.


Abrams & Bayliss

Addleshaw Goddard

Akerman LLP

Akin Gump

Alston & Bird

Andrews & Springer

Apollo Law LLC

Arnold & Porter

Ashby & Geddes

Bayard PA

Berger Harris

Boies Schiller

Briggs & Morgan

Bristows LLP

Burges Salmon

CMS Legal Services

Clyde & Co

Cozen O'Connor

DLA Piper

Duane Morris

Essex Court Chambers

Eversheds Sutherland


Fried Frank

Gibson Dunn

Grant & Eisenhofer

Gunderson Palmer

Herbert Smith Freehills

Heyman Enerio

Holland & Knight

Hunton Andrews Kurth

Jones Day

Kasowitz Benson

Kitzer Rochel

Landis Rath

Latham & Watkins


MoloLamken LLP

Morgan Lewis

Morris Nichols

Nilan Johnson

One Essex Court

Patterson Belknap

Pillsbury Winthrop

Pinsent Masons

Quinn Emanuel

Robbins Geller

Ross Aronstam

Shaw Keller

Shearman & Sterling

Shoosmiths LLP

Sidley Austin

Squire Patton Boggs

Stevens & Lee

Stris & Maher

Sullivan & Cromwell

Sullivan & Worcester

Venable LLP

Vinson & Elkins

Volkov Law Group

Wachtell Lipton

Watson Farley

Wedlake Bell

Weil Gotshal



Competition and Markets Authority

Consumer Financial Protection Bureau

Delaware Court of Chancery

Federal Communications Commission

Federal Emergency Management Agency

Federal Reserve System

Financial Conduct Authority

Serious Fraud Office

U.S. Attorney's Office

U.S. Court of Appeals for the District of Columbia Circuit

U.S. Court of Appeals for the Eighth Circuit

U.S. Court of Appeals for the Second Circuit

U.S. Department of Justice

U.S. District Court for the District of Delaware

U.S. District Court for the Eastern District of Pennsylvania

U.S. District Court for the Northern District of California

U.S. District Court for the Southern District of New York

U.S. Securities and Exchange Commission

U.S. Supreme Court

United States District Court for the District of North Dakota