Asset Management

  • October 08, 2024

    Honeywell To Spin Off Materials Biz Amid $9B Buying Spree

    Skadden-advised Honeywell said Tuesday it will spin off its advanced materials business into an independent publicly traded company, the latest maneuver in a $25 billion strategic restructuring that the company said has included about $9 billion deployed for acquisitions in 2024. 

  • October 08, 2024

    1st Circ. Eyes Revival Of Welch's Execs' Pension Fight

    The First Circuit appeared receptive Tuesday to former Welch's executives who are seeking to revive a suit claiming they were shortchanged by a supplemental retirement plan, with two judges pointing out conflict-of-interest disputes on appeal that the lower court left unaddressed.

  • October 08, 2024

    Willkie Adds Faegre ERISA Litigation Co-Head With Duo Hire

    Willkie Farr & Gallagher LLP is expanding its Midwest team, announcing Tuesday it is bringing in a Faegre Drinker Biddle & Reath LLP Employee Retirement Income Security Act litigator and a Chapman and Cutler LLP finance expert as partners in its Chicago office.

  • October 08, 2024

    Renovus Capital Clinches 4th PE Fund With $875M In Tow

    Philadelphia-area-based private equity firm Renovus Capital Partners, advised by Morgan Lewis & Bockius LLP and Winston & Strawn LLP, on Tuesday revealed that it closed its fourth private equity fund with $875 million in tow.

  • October 08, 2024

    Latham-Led Ares Paying $3.7B For Real Assets Manager GCP

    Latham & Watkins LLP-led Ares Management Corp. said Tuesday it has agreed to buy GCP International, a global alternative asset management firm with $44 billion of assets under management, in a cash and stock transaction valued at $3.7 billion. 

  • October 07, 2024

    Seinfeld-Inspired Investors Sue Bitwise Over $2M Crypto Losses

    A group of family-owned investment companies named after a gag from "Seinfeld" sued crypto asset manager Bitwise and its executives for allegedly duping them into staying invested in one of its funds as it sought a conversion to a less-preferable structure, causing them $1.9 million in losses.

  • October 07, 2024

    Activist Short Seller Blasts 'Preposterous' SEC Fraud Suit

    The founder of Citron Research, a newsletter for short sellers, has asked a California federal court to dismiss the U.S. Securities and Exchange Commission's fraud suit against him and his investment advisory firm, arguing the suit "strategically omits" the disclaimers it accused the founder of not making.

  • October 07, 2024

    Morgan Lewis Taps SEC Enforcement Vet As DC Partner

    Morgan Lewis & Bockius LLP announced on Monday that it has bolstered its securities enforcement and litigation team by hiring as a new partner the former U.S. Securities and Exchange Commission division of enforcement associate director, a 17-year agency veteran who supervised many of the SEC's groundbreaking or noteworthy crypto actions, including one against Kim Kardashian.

  • October 07, 2024

    5th Circ. Casts Doubt On SEC's Updated Short-Selling Rules

    A Fifth Circuit panel on Monday appeared skeptical of the U.S. Securities and Exchange Commission's arguments for maintaining two regulations aiming to bolster transparency around short selling in the marketplace, with one judge asking whether the agency was "having cake and eating it too," by claiming that the rules were not interconnected in a way that was fatally flawed.

  • October 07, 2024

    Biotech, Medical Device Firms Prep Three IPOs Totaling $376M

    Two venture-backed biotechnology startups and a medical device maker launched plans on Monday for three initial public offerings projected to raise about $376 million combined, adding to a busy schedule of IPOs this week.

  • October 07, 2024

    Chancery Holds Status Quo On Md. Data Center Pending Trial

    Delaware's Court of Chancery issued a partial status quo freeze Saturday on control of a $165 million site development project for a proposed $5 billion gigawatt data center complex near Frederick, Maryland, pending trial on claims that the original project managers had defaulted, but challenged their purported replacement.

  • October 07, 2024

    Trio Of 1st Circ. Criminal Cases Turned Away By Top Court

    The U.S. Supreme Court on Monday declined to review three white collar cases on appeal from the First Circuit, including challenges to a cryptocurrency founder's conviction for investor theft and an Illinois attorney's fraud and money laundering conspiracy verdict.

  • October 07, 2024

    Kirkland-Led Shore Capital Lands Almost $2B Across 3 Funds

    Lower-middle-market private equity shop Shore Capital Partners, led by Kirkland & Ellis LLP, on Monday announced that it wrapped three funds with a combined total of nearly $2 billion in commitments.

  • October 07, 2024

    Manafort Associate's Bribery Case Won't Get Top Court Look

    The U.S. Supreme Court on Monday declined to take up the case of a former bank CEO who had argued the Second Circuit's decision to uphold his conviction for bribing former Donald Trump staffer Paul Manafort wrongly criminalized even the smallest of benefits a bank executive receives from a customer.

  • October 07, 2024

    Justices Want SG's Take On Union Pension Withdrawal Case

    The U.S. Supreme Court asked the federal government Monday to weigh in on an employer-side petition in a fight over what actuarial assumptions multi-employer pension funds are allowed to use under federal benefits law when determining an employer's withdrawal liability.

  • October 07, 2024

    Alta Fox Latest Activist To Take Aim At Forward Air Corp.

    Forward Air Corp. shareholder Alta Fox in a Monday letter blasted the "disastrous record of ignoring shareholders' views" by the asset-light transportation services provider and demanded immediate change, marking the second activist investor to take aim at the company in recent months.

  • October 07, 2024

    Mayer Brown Partner Returns To Hunton In DC

    A partner at Mayer Brown LLP, who started his legal career nearly a decade ago with Hunton Andrews Kurth LLP, has rejoined the firm as a partner in its Washington office, the firm announced Monday.

  • October 07, 2024

    Chevron Nets $6.5B In Sale Of Canadian Oil Assets

    Chevron Canada Ltd. said Monday it has agreed to sell off its stakes in the Athabasca Oil Sands Project and the Duvernay shale to Canadian Natural Resources Ltd. for $6.5 billion.

  • October 07, 2024

    3 Firms Advise $1B Blue Owl Buy Of Data Center Firm IPI

    Asset manager Blue Owl Capital said Monday that it will pay $1 billion to acquire digital infrastructure fund manager IPI Partners, in a deal advised by Gibson Dunn & Crutcher LLP, Morrison Foerster LLP and Kirkland & Ellis LLP.

  • October 07, 2024

    3 Firms Guide Apollo, Barnes Group On $3.6B Take-Private

    Barnes Group said Monday that funds managed by Apollo Global Management will acquire the aerospace parts maker in a deal valued at $3.6 billion, with Wachtell Lipton Rosen & Katz advising Barnes and Latham & Watkins LLP and Paul Weiss Rifkind Wharton & Garrison LLP guiding Apollo.

  • October 04, 2024

    Top 5 Supreme Court Cases To Watch This Fall

    The U.S. Supreme Court will hear several cases in its October 2024 term that could further refine the new administrative law landscape, establish constitutional rights to gender-affirming care for transgender minors and affect how the federal government regulates water, air and weapons. Here, Law360 looks at five of the most important cases on the Supreme Court's docket so far.

  • October 04, 2024

    Milbank LLP Lands Departing SEC Enforcement Chief Grewal

    Departing U.S. Securities and Exchange Commission enforcement director Gurbir Grewal will land at Milbank LLP in New York after he leaves the agency later this month, joining the law firm's litigation and arbitration group, according to a person familiar with the matter.

  • October 04, 2024

    Real Estate Execs Accused Of NYC Deed Theft Scheme

    Three real estate executives have been arrested in connection with a purported $500,000 deed theft scheme that preyed upon a vulnerable home owner in the Bronx, according to the Office of the New York State Attorney General.

  • October 04, 2024

    SEC Suit Over Fund Adviser's $1B Loss Teed Up For Trial

    An Illinois federal judge has declined to grant the U.S. Securities and Exchange Commission a win in its suit accusing a now-defunct Chicago investment adviser of mismanaging $1 billion in assets, finding that a jury will need to consider many of the suit's claims around whether investors were misled about the firm's trading strategy and risk management practices.

  • October 04, 2024

    Thrivent Unit Pays SEC Fine Over Alleged Reg BI Lapses

    Thrivent Investment Management Inc. has settled the U.S. Securities and Exchange Commission's allegations that it violated Regulation Best Interest when recommending certain investments to customers enrolled in college savings plans when lower-priced options were available.

Expert Analysis

  • Opinion

    Discount Window Reform Needed To Curb Modern Bank Runs

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    We learned during the spring 2023 failures that bank runs can happen extraordinarily fast in light of modern technology, especially when banks have a greater concentration of large deposits, demonstrating that the antiquated but effective discount window needs to be overhauled before the next crisis, says Cris Cicala at Stinson.

  • Series

    After Chevron: Creating New Hurdles For ESG Rulemaking

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    The U.S. Supreme Court's Loper Bright decision, limiting court deference to agencies' statutory interpretations, could have significant impacts on the future of ESG regulation, creating new hurdles for agency rulemaking around these emerging issues, and calling into question current administrative actions, says Leah Malone at Simpson Thacher.

  • A Timeline Of Antisemitism Legislation And What It Means

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    What began as hearings in the House of Representatives Committee on Education and the Workforce has expanded to a House-wide effort to combat antisemitism and related issues, with wide-ranging implications for education, finance and nonprofit entities, say attorneys at Morgan Lewis.

  • Opinion

    States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • 50 Years Later, ERISA Remains A Work In Progress

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    A look at the 50 years since the Employee Retirement Income Security Act’s passage shows that while the law safeguards benefits through vesting rules, fiduciary responsibilities and anti-discrimination provisions, the act falls short in three key areas, says Carol Buckmann at Cohen & Buckmann.

  • Series

    Solving Puzzles Makes Me A Better Lawyer

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    Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

  • Dapper Settlement Offers Rules Of The Road For NFT Issuers

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    The terms of a $4 million settlement in a class action alleging that Dapper Labs sold its NBA Top Shot Moments as unregistered securities may be a model for third parties that wish to avoid securities liability in connection with offering digital asset non-fungible token collectibles, say attorneys at K&L Gates.

  • Texas Ethics Opinion Flags Hazards Of Unauthorized Practice

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    The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • In Memoriam: The Modern Administrative State

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    On June 28, the modern administrative state, where courts deferred to agency interpretations of ambiguous statutes, died when the U.S. Supreme Court overruled its previous decision in Chevron v. Natural Resources Defense Council — but it is survived by many cases decided under the Chevron framework, say Joseph Schaeffer and Jessica Deyoe at Babst Calland.

  • First-Of-Its-Kind Chancery Ruling Will Aid SPAC Defendants

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    The Delaware Chancery Court's first full dismissal of claims challenging a special purpose acquisition company transaction under the entire fairness doctrine in the recent Hennessy Capital Acquisition Stockholder Litigation establishes useful precedent to abate the flood of SPAC litigation, say Lisa Bugni and Benjamin Lee at King & Spalding.

  • How To Clean Up Your Generative AI-Produced Legal Drafts

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    As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.

  • Series

    After Chevron: Opportunities For Change In FHFA Practices

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    The U.S. Supreme Court's overturning of the Chevron doctrine should lead to better cooperation between the Federal Housing Finance Agency and Congress, and may give the FHFA a chance to embrace transparency and innovation and promote sustainable housing practices, says Mehdi Sinaki at Michelman & Robinson.

  • Supreme Court's ALJ Ruling Carries Implications Beyond SEC

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    In its recent Jarkesy opinion, the U.S. Supreme Court limited the types of cases that can be tried before the U.S. Securities and Exchange Commission's in-house administrative law judges, setting the stage for challenges to the constitutionality of ALJs across other agencies, say Robert Robertson and Kimberley Church at Dechert.

  • 2nd Circ. ERISA Ruling May Help Fight Unfair Arb. Clauses

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    The Second Circuit recently held that a plaintiff seeking planwide relief under the Employee Retirement Income Security Act cannot be compelled to individual arbitration, a decision that opens the door to new applications of the effective vindication doctrine to defeat onerous and one-sided arbitration clauses, say Raphael Janove and Liana Vitale at Janove.

  • Series

    Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

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