Asset Management

  • November 15, 2024

    Taxation With Representation: Cravath, MoFo, Gibson Dunn

    In this week's Taxation With Representation, Cardinal Health takes a majority stake in GI Alliance and acquires Advanced Diabetes Supply Group, Just Eat offloads Grubhub to Wonder Group, Rivian Automotive and Volkswagen Group launch a joint venture, and Ovintiv Inc. buys Montney Basin assets from Paramount Resources Ltd.

  • November 15, 2024

    Biden Withdraws Cohen Weiss Atty's PBGC Nomination

    President Joe Biden has withdrawn his nomination of a Cohen Weiss & Simon LLP attorney to lead the Pension Benefit Guaranty Corp., four months after putting her name forward and less than two weeks after former President Donald Trump secured a return to the White House.

  • November 14, 2024

    Student Loan Servicer Wants CFPB Deal Paused Amid Appeal

    The Pennsylvania Higher Education Assistance Agency has asked a Pennsylvania federal judge to pause its obligation to pay more than $3.2 million as a part of a settlement with the Consumer Financial Protection Bureau that is being challenged in the Third Circuit by a third party.

  • November 14, 2024

    Ex-JP Morgan Rep To Stop Soliciting Clients Amid Arbitration

    A former J.P. Morgan Securities LLC employee who left to work for Morgan Stanley has agreed not to solicit customers from her former employer while the parties arbitrate the broker-dealer's claims she lured clients with more than $12 million in assets away to its rival.

  • November 14, 2024

    Judge Presses SEC Over 'Rogue Employee' In PE Fund Fight

    A Texas federal judge grilled the U.S. Securities and Exchange Commission over the circumstances that led to a private equity fund suing the regulator alleging it carried out a "fishing expedition" investigation, asking the agency about a "rogue employee" during a hearing Thursday.

  • November 14, 2024

    3 Firms Guide UAE Grocery Giant Lulu's $1.7B Market Debut

    United Arab Emirates grocery chain Lulu Retail Holdings PLC's shares closed flat in debut trading Thursday following an upsized, $1.7 billion initial public offering that marked the largest UAE listing of 2024, guided by three law firms.

  • November 14, 2024

    Crypto And Private Fund Groups Push SEC On Dealer Rule

    Crypto industry groups and private fund associations tag-teamed the U.S. Securities and Exchange Commission on Thursday during a hearing over two cases relating to the agency's expanded definition of securities dealers, telling a Texas federal court that the new rule marked a dramatic overreach by the regulator.

  • November 14, 2024

    Fenwick-Led AI Firm CoreWeave Inks $650M Secondary Sale

    Artificial intelligence-focused startup CoreWeave Inc. has closed a secondary share sale totaling $650 million, represented by Fenwick & West LLP, enabling existing shareholders to sell stock to new investors before an expected initial public offering.

  • November 14, 2024

    Whole Foods Workers Seek Massive Class In 401(k) Fee Suit

    Former Whole Foods employees have asked a Texas federal judge to turn their suit against the company into a class action, saying they'd like to represent nearly 100,000 current and former employees in litigation accusing the grocery chain of mismanaging its 401(k) plan.

  • November 14, 2024

    Boeing Could Sell Navigation Unit For $6B, And More Rumors

    Boeing is mulling a sale of its Jeppesen navigation unit at potential $6 billion price tag, Pfizer may be seeking billions for its hospital drug unit, and a U.S. gas station and convenience store business could be sold at a $1.5 billion value. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • November 14, 2024

    Ovintiv Buys Montney Assets For $2.4B, Sells Others For $2B

    Natural gas producer Ovintiv Inc. said Thursday it will purchase certain Montney Basin assets in Canada from Paramount Resources Ltd. in an all-cash deal worth about $2.38 billion, and also announced plans to divest its Uinta Basin assets in a sale to FourPoint Resources Ltd. and its private equity partners for $2 billion, with at least five law firms advising on the deals.

  • November 14, 2024

    'We'll Leave It To Others': SEC's Gensler Hints At Exit

    U.S. Securities and Exchange Commission Chair Gary Gensler gave a lengthy speech Thursday about his legacy and what remains to be done on regulations related to investors' climate, artificial intelligence and crypto concerns.

  • November 14, 2024

    Settlement Reached In Ga. Data Breach Class Action

    The companies behind high-interest loan products TitleMax, TitleBucks and InstaLoan have reached a tentative settlement with customers who alleged the companies failed to protect their personal information, leading to a data breach that affected an estimated 4.8 million people.

  • November 14, 2024

    MVP: Kirkland's Robert Blaustein

    Robert Blaustein of Kirkland & Ellis LLP's investment funds practice group currently counsels 10 funds seeking more than $50 billion of capital, and has led sponsors in raising more than $100 billion in aggregate capital, earning him a spot as one of the 2024 Law360 Fund Formation MVPs.

  • November 13, 2024

    Tempur Sealy Has 'Keys' To Merger, Mattress Firm CEO Says

    Mattress Firm's CEO told a Houston judge Wednesday that he has not had any involvement in Tempur Sealy's post-acquisition agreements with mattress suppliers, testifying that Tempur's board chairman and CEO is the one "driving" the deal.

  • November 13, 2024

    2 Firms Tapped To Lead French Fry Maker Investor Suit

    Bernstein Litowitz Berger & Grossmann LLP and Grant & Eisenhofer PA have been named lead counsel in a now-consolidated suit in Idaho federal court accusing frozen potato products company Lamb Weston of scorching its revenue projections with the poor implementation of a new software system, leading to a nearly 20% share decline.

  • November 13, 2024

    Swedish Fintech Klarna Confidentially Files US IPO Plans

    Klarna Group PLC, a Stockholm-based financial technology startup, announced Wednesday it has confidentially submitted its plans for an initial public offering to the U.S. Securities and Exchange Commission, paving the way for a long-awaited listing.

  • November 13, 2024

    PrivatBank Says Ukraine Ruling Doesn't Bar Looting Suit

    An attorney for Ukraine's PrivatBank urged a Delaware vice chancellor Wednesday to reject arguments that the bank's multibillion-dollar fraud and unjust enrichment loan claims against two oligarchs and others were undone by an allegedly narrow Ukrainian high court ruling in favor of the borrowers.

  • November 13, 2024

    Justices Puzzled By Nvidia's Position In Investor Case

    Some U.S. Supreme Court justices on Wednesday seemed to regret the decision to hear a dispute between chipmaker Nvidia Corp. and its investors, wondering whether a disagreement over what the company knew about its sales to crypto miners has any bearing on other securities class action lawsuits.

  • November 13, 2024

    SEC's Uyeda Says Limits On Private Funds Need Review

    Smaller private and venture capital funds could benefit from less-stringent registration requirements, a Republican member of the U.S. Securities and Exchange Commission told an advisory panel Wednesday, saying the time is ripe to review whether existing thresholds still make sense.

  • November 13, 2024

    Frontier Stockholders Vote In Favor Of $20B Verizon Deal

    Frontier Communications stockholders approved the company's planned $20 billion sale to Verizon Communications Inc. on Wednesday, despite prior pushback from select investors and recommendations from top proxy advisory firms to abstain.

  • November 13, 2024

    Fla. Judge Tosses Law Firm Investor's Derivative Suit

    A Florida judge dismissed a derivative lawsuit Wednesday against a law firm brought by an investor claiming two partners orchestrated a litigation funding fraud, saying the investor needs to flesh out allegations about a contractual requirement to hold a vote with firm members before bringing suit.

  • November 13, 2024

    MVP: Paul Weiss' Marco Masotti

    Over the past year, Marco Masotti of Paul Weiss Rifkind Wharton & Garrison LLP's investment funds group helped Apollo Global Management close its $20 billion Apollo Fund X and guided Oak Hill Capital through several major private equity transactions, earning him a spot as one of the 2024 Law360 Fund Formation MVPs.

  • November 12, 2024

    Ex-FDIC Head Urges Banks To 'Push Back' Against Examiners

    A former top Trump banking regulator on Tuesday called for bank executives to show "backbone" and push back when they are challenged with bad exam findings from their regulators, urging resistance as an antidote to perceived excesses in bank oversight.

  • November 12, 2024

    FTX Targets Scaramucci, PACs, Law Firm In Wave Of Suits

    Bankrupt cryptocurrency exchange FTX filed roughly 30 suits in a bid to recoup millions of dollars donated to political and charitable causes, losses caused by alleged market manipulation, and funds spent on business partnerships, including with Skybridge Capital's Anthony Scaramucci and a boutique Florida law firm.

Expert Analysis

  • Nvidia Case's Potential Impact On Securities Class Actions

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    In Nvidia v. Ohman Fonder, the U.S. Supreme Court could strip lower courts of their long-standing ability and obligation to holistically weigh all relevant facts supporting plaintiffs' allegations of securities fraud, which would have a wide-ranging impact on securities fraud class actions in the U.S., say attorneys at Labaton Keller.

  • How Attorneys Can Break Free From Career Enmeshment

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    Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.

  • Short-Seller Implications Of 10th Circ.'s Overstock Decision

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    The Tenth Circuit's Oct. 15 decision in Overstock Securities Litigation provides clarity on the pleading standard for a market manipulation claim under the Exchange Act, and suggests that short sellers might not be able to rely on the fraud-on-the-market presumption typically invoked by securities plaintiffs, say attorneys at Paul Weiss.

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

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    Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.

  • Opinion

    Judicial Committee Best Venue For Litigation Funding Rules

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    The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.

  • The Strategic Advantages Of Appointing A Law Firm CEO

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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.

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