Try our Advanced Search for more refined results
Asset Management
-
February 20, 2025
Musk's X Seeks Cash At $44B Valuation, Plus More Rumors
Elon Musk is seeking to raise money for his social media platform X at a $44 billion valuation — the same price he paid to buy the site in 2022 — while BP is considering selling its Castrol lubricants unit for $10 billion and KKR could inject $5 billion into ailing British utility Thames Water. Here, Law360 breaks down the notable deal rumors from the past week.
-
February 20, 2025
Kirkland-Led GTCR Clinches $3.6B Strategic Growth Fund
Kirkland & Ellis LLP-advised private equity giant GTCR on Thursday revealed that it closed its second strategic growth fund after securing $3.6 billion from investors after only months of fundraising.
-
February 20, 2025
KKR Clinches Fuji Soft Majority Stake Ahead Of Take-Private
KKR said Thursday it has secured a majority stake in Fuji Soft by completing the second stage of a tender offer after prevailing over rival bidder Bain Capital, as it readies to privatize and take full control of the Japanese company through a so-called squeeze-out of the remaining shares.
-
February 19, 2025
Ex-Perella Weinberg Partner Denies Plot To Split Firm
A former Perella Weinberg partner on Wednesday testified that he had no plans to break off and start his own restructuring advisory shop before the investment banking firm fired him for purportedly violating his nonsolicitation provisions of his partnership agreements.
-
February 19, 2025
2nd Circ. Backs Dismissal Of Suit Over Egypt Paper Co. Seizure
The Second Circuit affirmed Wednesday that an Egyptian official has sovereign immunity in a $15.7 million lawsuit filed by the former majority investor in a cardboard and paper company seeking compensation after the company was seized by the Egyptian government in the 1990s.
-
February 19, 2025
Solar Co. Says Investors Seek To 'Punish' It Over Wire Issues
Solar energy equipment maker Shoals Technologies Group Inc. and its underwriters have asked a Tennessee federal judge to toss a consolidated proposed investor class action taking aim at the company's disclosures about certain product wiring issues, arguing Tuesday that it had timely shared information about the developing situation.
-
February 19, 2025
Ex-CNBC Pundit Cops To Scamming Investors Out Of $2.7M
A former frequent CNBC guest pled guilty Wednesday to defrauding investors out of at least $2.7 million, part of a plea deal reached with federal prosecutors after he spent years on the lam.
-
February 19, 2025
'Death Knell' For SEC Dealer Rule As Regulator Drops Appeal
The U.S. Securities and Exchange Commission on Wednesday dropped its bid to revive its expansion of the dealer definition at the Fifth Circuit after industry groups representing private funds and crypto firms successfully challenged the rule in Texas federal court last year.
-
February 19, 2025
SL Green Can't Escape Property Transfer Fraud Suit
A New York federal judge refused Wednesday to let SL Green and several of the real estate investment trust's entities escape a fraudulent property transfer suit, but he narrowed state law claims seeking to collect on a related judgment for nearly $13 million.
-
February 19, 2025
Silver Point Knocks SEC Suit Over Attorney Info Access Rules
Investment adviser Silver Point Capital LP said it did not need to write special rules banning a now-deceased former BigLaw bankruptcy attorney from sharing information between its business units, accusing the U.S. Securities and Exchange Commission of filing a "farfetched theory of noncompliance" in a Connecticut enforcement action.
-
February 19, 2025
Paper Co. Can't Fully Escape Severance Benefits Suit
A former employee of a pulp and paper company can proceed with a severance benefits suit because a factual dispute exists, a Tennessee federal court ruled, though the court agreed to dismiss one of the claims and a defendant.
-
February 19, 2025
Cintas 401(k) Class Counsel Get OK For $1.3M Fee
Counsel for a class of 50,000 people who sued uniform supplier Cintas for mismanaging retirement benefits have been awarded $1.3 million in fees after striking a $4 million settlement with the company.
-
February 18, 2025
Pandemic No Excuse To Alter $150M Notes, Alter Domus Says
An auto parts magnate and his manufacturing company should not get away with using the COVID-19 pandemic as an excuse for changing promissory notes worth $150 million in ways that deflated their value, lending agent Alter Domus LLC asserted in Michigan federal court Tuesday.
-
February 18, 2025
Trump Media Blames Rising Loss Partly On SEC Legal Bills
The owner of President Donald Trump's social media platform attributed its widening losses in part to rising legal costs from the Biden-era U.S. Securities and Exchange Commission's investigations of the merger that took the company public, according to a statement.
-
February 18, 2025
Vanguard Investors Object To $40M Settlement Proposal
A handful of the investors claiming Vanguard breached its fiduciary duty when it triggered an asset sell-off that stuck them with big tax bills objected to a proposed $40 million settlement, with some saying attorneys in the underlying class action could get too much money for making the deal.
-
February 18, 2025
Connecticut Art Business Seller Says Buyer Owes $2.3M
A Wisconsin-based retailer that purchased an art marketing and distribution company from a family trust in 2019 has failed to make a $2.3 million payout based on its 2020 performance, according to a lawsuit in Connecticut state court.
-
February 14, 2025
Loper Bright Doesn't Sink ESG Rule, Texas Judge Says
A Texas federal judge again upheld a Biden-era rule allowing retirement fiduciaries to consider issues like climate change and social justice when choosing investments, ruling that the rule was still valid despite the U.S. Supreme Court doing away with a decades-long approach to interpreting statutes.
-
February 14, 2025
SEC Crypto Mining Case Paused After Feds Bring Charges
A Texas federal judge paused the U.S. Securities and Exchange Commission's case against a crypto asset mining and hosting company after federal prosecutors filed their own suit against three of its executives for allegedly spending investor funds on themselves instead of the mining equipment they promised.
-
February 14, 2025
Ex-Fla. Rep's Associate Wants Sanctions For 'Sham' Lawsuit
An associate of David Rivera has asked for sanctions against the former Florida congressman and his attorney, arguing that Rivera's suit accusing him of disclosing a confidential legal memorandum to law enforcement is "a complete sham" contrived to get discovery Rivera is not entitled to in the criminal proceeding in which he is accused of unlawfully lobbying on behalf of Venezuela.
-
February 14, 2025
SEC Fines Adviser Firm, Ex-Rep Over Fiduciary Duty Claims
The U.S. Securities and Exchange Commission entered into a $225,000 settlement with New York-based registered investment adviser One Oak Capital Management LLC and a former representative to resolve alleged misconduct related to advisory services provided to their retail clients.
-
February 14, 2025
New Delisting Rules Shorten Leash For Distressed Companies
Distressed companies should take heed of new stock exchange rules that are likely to accelerate delistings for stocks that trade below minimum requirements, particularly targeting businesses that rely on reverse stock splits to inflate their share prices, attorneys say.
-
February 14, 2025
Some Discovery On Hold In Abbott Infant Formula Case
An Illinois federal judge granted in part a request by Abbott Laboratories to pause a shareholder derivative suit over how it managed the 2022 infant formula crisis, allowing written discovery to go on while staying depositions until May.
-
February 14, 2025
Alston & Bird Leads PE-Backed Michigan Bank's $151M IPO
Shares of private equity-backed Northpointe Bancshares Inc. began trading Friday after the Michigan bank priced an upsized $151 million initial public offering below its marketed range, represented by Alston & Bird LLP and underwriters counsel Squire Patton Boggs LLP.
-
February 14, 2025
'New Facts' Improper In Penny Stock Action, 2nd Circ. Told
A Connecticut federal judge violated controlling case law and the constitutional rights of a penny stock CEO when imposing a judgment in a U.S. Securities & Exchange Commission enforcement action, defense counsel told the Second Circuit, arguing that the SEC admitted post-trial that it could not find any victims of the allegedly false public statements at issue.
-
February 14, 2025
Asset Manager Fiera Broke Bonus Promises, Ex-Exec Says
A Massachusetts portfolio manager says Fiera Capital Inc. lured him to the asset management firm with promises he could earn up to $850,000 a year, then sidelined him so he was unable to qualify for bonuses and forced him out a year later.
Expert Analysis
-
The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
-
Don't Phone A Friend: Disclosing Friendships With Executives
The U.S. Securities and Exchange Commission's recent settlement against a former Church & Dwight chairman for violating proxy disclosure rules by neglecting to disclose his friendship with an executive officer amid a CEO search illustrates the perils of relying solely on responses to questionnaires circulated to boards, say attorneys at BCLP.
-
Why Diversity Jurisdiction Poses Investment Fund Hurdles
Federal courts' continued application of the exacting rules of diversity jurisdiction presents particular challenges for investment funds, and in the absence of any near-term reform, those who manage such funds should take action to avoid diversity jurisdiction pitfalls, say attorneys at Sher Tremonte.
-
The Ups And Downs Of SEC's Now-Dissolved ESG Task Force
The U.S. Securities and Exchange Commission's Climate and ESG Enforcement Task Force, which was quietly disbanded sometime over the summer, was marked by three years of resistance from some stakeholders to ESG regulation, a mixed record in the courts and several successful enforcement actions, say attorneys at Crowell & Moring.
-
Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
-
Anticipating Jarkesy's Effect On Bank Agency Enforcement
Following the U.S. Supreme Court’s decision in U.S. Securities and Exchange Commission v. Jarkesy, federal courts may eventually issue decisions on banking law principles and processes that could fundamentally alter the agencies' enforcement action framework, and the relationship between banks and examiners, says Brendan Clegg at Luse Gorman.
-
CFTC Anti-Fraud Blitz Is A Warning To Carbon Credit Sellers
With its recent enforcement actions against a carbon offset project developer and its senior executives for reporting false information about the energy savings of the company's projects, the Commodity Futures Trading Commission is staking out its position as a primary regulator in the voluntary carbon credit market, say attorneys at Morgan Lewis.
-
Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
-
Peeling Back The Layers Of SEC's Equity Trading Reforms
The U.S. Securities and Exchange Commission's recently adopted amendments lowering the tick sizes for stock trading and reducing access fee caps will benefit investors and necessitate broad systems changes — if they can first survive judicial challenges, say attorneys at Sidley.
-
How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
-
Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
-
How Project 2025 Could Upend Federal ESG Policies
If implemented, Project 2025, the Heritage Foundation's policy playbook for a Republican presidential administration, would likely seek to deploy antitrust law to target ESG initiatives, limit pension fund managers' focus to pecuniary factors and spell doom for the U.S. Securities and Exchange Commission's climate rule, say attorneys at Mintz.
-
Opinion
FDIC's Foray Into Index Fund Rules Risks Regulatory Chaos
A proposed Federal Deposit Insurance Corp. rule concerning control over passive index fund investments in banks is outside the agency's remit, clashes with an existing Federal Reserve process and would inhibit competition in the index fund sector, says J.W. Verret at George Mason University.
-
Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
-
Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.