Asset Management

  • August 21, 2024

    Fla. Adviser Settles SEC Dispute Over Alleged Audit Lies

    A Florida-based investment adviser has settled a dispute with the U.S. Securities and Exchange Commission over allegations he breached his fiduciary duties when he lied to investors about completing required audits on their investment funds, according to documents filed Wednesday in Boston federal court.

  • August 21, 2024

    Kurdish Telecom Co. Investor Says $490M Judgment Is Valid

    An investor in a Kurdish mobile phone operator has asked a New York federal court to enforce a $490 million judgment it claims it won against Iraqi Kurdistan, saying the Kurd government is trying to relitigate issues that were already rejected by a Kuwait court.

  • August 21, 2024

    2nd Circ. OKs Argentine Bondholders' $310M Collateral Win

    The Second Circuit on Wednesday affirmed a finding that Argentina must turn over to its onetime bondholders reversionary interests worth over $310 million in collateral backing so-called Brady Plan bonds from the 1990s that recently matured, rejecting the country's arguments that the Foreign Sovereign Immunities Act shields its interests in the collateral.

  • August 21, 2024

    Western Asset Exec Takes Leave Of Absence Amid SEC Probe

    Western Asset Management's co-chief investment officer, Ken Leech, has taken an immediate leave of absence from the global fixed-income manager after receiving a so-called Wells notice from the U.S. Securities and Exchange Commission and as the company faces parallel government investigations.

  • August 21, 2024

    Investment Firm, Ex-Advisers Settle Dispute Over Clients

    Mercer Global Advisors and former investment advisers accused of stealing clients and starting a competing firm have told a Florida state court that they have settled their dispute just before trial.

  • August 21, 2024

    Hedge Fund Priest Sues SEC Over Proposed Industry Ban

    A Greek Orthodox priest and hedge fund founder who beat most civil claims brought by the U.S. Securities and Exchange Commission at a 2021 trial sued the agency Wednesday, claiming it is unconstitutionally trying to implement a lifetime ban from the securities industry through an administrative case.

  • August 21, 2024

    Wells Fargo Hires Jones Day After $22M ADA Trial Loss In NC

    Wells Fargo has beefed up its legal representation with a powerhouse appellate litigator and an employer-side labor lawyer, both from Jones Day, following a jury's decision last month to enter more than $22 million in damages against it in a former director's disability discrimination case in North Carolina federal court.

  • August 21, 2024

    6th Circ. Rules Man Can Pay Restitution To Himself

    The Sixth Circuit ruled that a Kentucky man who pled guilty to defrauding his mother can pay $332,000 in restitution to her estate even though he is the sole beneficiary, disagreeing with a lower court judge who tried to amend the judgment after her death so the money would go to the federal Crime Victims Fund.

  • August 21, 2024

    3rd Circ. Rejects Ex-Engineering Co. GC's Benefits Suit

    The Third Circuit refused Wednesday to revive a former general counsel for an engineering company's suit claiming he was stiffed on over $100,000 in retirement benefits, rejecting his argument that a $1 million payout he got from the company should have been factored into his benefits package.

  • August 21, 2024

    7 Firms Build $175M All-Stock Sale Of Bitcoin Mining Biz

    Bitcoin data center company Bitfarms Ltd. on Wednesday announced plans to buy Stronghold Digital Mining Inc. in an all-stock merger valued at roughly $175 million and built by seven law firms.

  • August 20, 2024

    SEC Fines Equiniti Trust After Cyberattacks Stole $6.6M

    New York-based Equiniti Trust Co. has agreed to pay a $850,000 fine over claims it did not safeguard clients' funds from two cyber intrusion incidents that resulted in over $6 million in total losses, the U.S. Securities and Exchange Commission announced Wednesday.

  • August 20, 2024

    Ex-SEC Senior Counsel, AUSA Joins Tech Co. As CCO

    A former assistant U.S. attorney with senior counsel experience at the U.S. Securities and Exchange Commission has joined technology company Tools For Humanity, a startup co-founded and chaired by OpenAI head Sam Altman, as deputy general counsel and chief compliance officer.

  • August 20, 2024

    Split 6th Circ. Revives FCRA Claims Against Experian

    A partially divided Sixth Circuit has reversed a lower court's decision to toss a consumer's Fair Credit Reporting Act claims against Experian concerning alleged delinquent spousal support payments, ruling in part on Monday that Experian failed to properly investigate court orders acknowledging the man's compliance with the payments.

  • August 20, 2024

    A Deep Dive Into Law360 Pulse's 2024 Women In Law Report

    The legal industry continues to see incremental gains for female lawyers in private practice in the U.S., according to a Law360 Pulse analysis, with women now representing 40.6% of all attorneys and 51% of all associates.

  • August 20, 2024

    These Firms Have The Most Women In Equity Partnerships

    The legal industry still has a long way to go before it can achieve gender parity at its upper levels. But these law firms are performing better than others in breaking the proverbial glass ceiling that prevents women from attaining leadership roles.

  • August 20, 2024

    Kirkland-Led Dermody Closes $1B Real Estate-Focused Fund

    Real estate-focused private equity shop Dermody Properties, advised by Kirkland & Ellis LLP, on Tuesday announced that it successfully closed its fourth commingled fund after securing just over $1 billion in capital commitments.

  • August 20, 2024

    Catching Up With Delaware's Chancery Court

    A nearly record-breaking attorney fee got the nod in Delaware last week, along with Chancery Court settlements involving an international private jet service and a chain of trampoline parks. New disputes involved a famous burger restaurant chain, a computer-chip maker, a now-defunct genomic science company, and a historic manor house in west London.

  • August 20, 2024

    Philadelphia, Insurer Settle Trans Firefighter's Surgery Suit

    The city of Philadelphia, Independence Blue Cross and a firefighters union agreed to settle a transgender firefighter's suit claiming she was unlawfully denied coverage for facial feminization surgery, just weeks after a Pennsylvania federal judge refused to let the insurer out of the case.

  • August 19, 2024

    Arden Trust Co. Sued In Del. Over Bikini Atoll Fund Depletion

    Representatives of Pacific Islanders displaced by early nuclear testing on Bikini Atoll sued Arden Trust Co. in Delaware's Court of Chancery on Monday, accusing the company of mismanaging and quickly dissipating tens of millions of dollars in congressionally authorized aid funds after years of careful management.

  • August 19, 2024

    Chancery Resets Del. Hearing In Masimo-Politan Proxy Battle

    Pointing to "very significant stockholder franchise issues at play" and a dwindling Masimo Corp. stockholder vote countdown, a Delaware vice chancellor on Monday scheduled a Sept. 13 hearing on Politan Capital Management LP challenges to Masimo's actions in the run-up to the contested Sept. 19 vote.

  • August 19, 2024

    Ethanol Co. Investors Say $9M Arbitration Award Was Stolen

    Class B members of a Colorado ethanol company claim they have been denied their share of a $9 million arbitration award resulting from an action against the managing entity of the company for allegedly engaging in a pay-to-play scheme with vendors in exchange for those vendors sponsoring a National Hot Rod Association team.

  • August 19, 2024

    NC Accelerator Claims It Was Duped Into Investment

    A Charlotte, North Carolina, tech accelerator and its investment partner claim that a Denver-area man duped them into giving money for a worthless shell entity when they thought they were investing in a promising tech startup offering loan document management software.

  • August 19, 2024

    Retirees Ask 2nd Circ. To Reboot IBM Pension Fight

    A proposed class of IBM retirees alleging the business lowballed their pension payments by using outdated mortality data to calculate benefits urged the Second Circuit to revive its suit, arguing a New York federal court wrongly determined its claims were brought too late.

  • August 19, 2024

    AI Platform AMC Corp. To Go Public Via $175M SPAC Merger

    Blank check company AlphaVest Acquisition Corp., advised by Winston & Strawn LLP, on Monday unveiled plans to merge with and take public native computer-vision artificial intelligence platform AMC Corp., led by Graubard Miller, in a $175 million deal.

  • August 19, 2024

    9th Circ. Sends Northrop Pension Disclosure Row To Trial

    The Ninth Circuit revived a class claim Monday from a group of Northrop Grumman retirees who said they were kept in the dark about how much they would get in pension benefits, ruling their allegations that the defense contractor shirked its disclosure duties were filed on time.

Expert Analysis

  • Series

    Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

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    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • Using A Children's Book Approach In Firm Marketing Content

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    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

  • The State Of Play In DEI And ESG 1 Year After Harvard Ruling

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    Almost a year after the U.S. Supreme Court decided Students for Fair Admissions v. Harvard, attorney general scrutiny of environmental, social and governance-related efforts indicates a potential path for corporate diversity, equity and inclusion initiatives to be targeted, say attorneys at Crowell & Moring.

  • 2nd Circ. Ruling Affirms NY Law's Creditor-Friendly Approach

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    The Second Circuit’s recent ruling in 245 Park Member v. HNA International provides creditors with some reason for optimism that debtors in New York may face rejection in court for aiming to keep creditors at arm’s length by transferring personal assets into an LLC, says Jeff Newton at Omni Bridgeway.

  • 2 Oil Trader FCPA Pleas Highlight Fine-Reduction Factors

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    Recent Foreign Corrupt Practices Act settlements with Gunvor and Trafigura — the latest actions in a yearslong sweep of the commodities trading industry — reveal useful data points related to U.S. Department of Justice policies on cooperation credit and past misconduct, say Michael DeBernardis and Laura Perkins at Hughes Hubbard.

  • Influencer Considerations As FINRA Initiates Crackdown

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    To avert risks when evaluating influencer and referral programs, firms should assess the Financial Industry Regulatory Authority's recent settlements involving the supervision of social media tastemakers, as well as recent FINRA guidance in this area, say attorneys at Troutman Pepper.

  • New Crypto Reporting Will Require Rigorous Recordkeeping

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    The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.

  • A Comparison Of FDIC, OCC Proposed Merger Approaches

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    Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.

  • Series

    Being An EMT Makes Me A Better Lawyer

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    While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

  • SEC Amendments May Launch New Execution Disclosure Era

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    The U.S. Securities and Exchange Commission's recently adopted amendments to Rule 605 of Regulation NMS for executions on covered orders in national market system stocks modernize and enhance execution quality reporting, but serious guidance is still needed to make the reports useful for the public investor, say attorneys at Sidley.

  • Mitigating Incarceration's Impacts On Foreign Nationals

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    Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.

  • Tiny Tweaks To Bank Merger Forms May Have Big Impact

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    The impact of proposed changes to the Federal Reserve Board's and Federal Deposit Insurance Corp.'s bank merger review forms would be significant, resulting in hundreds of additional burden hours for bank merger applicants and signaling a further shift by the prudential bank regulators toward more rigorous scrutiny of mergers, say attorneys at Debevoise.

  • Exploring An Alternative Model Of Litigation Finance

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    A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.

  • Series

    Teaching Yoga Makes Me A Better Lawyer

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    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

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