Asset Management

March 21, 2025
Only FDIC Can Sue Over Signature Bank Collapse, Judge Says

A New York federal judge on Friday tossed a shareholder lawsuit over alleged misstatements about Signature Bank's health ahead of its 2023 collapse, saying shareholders lacked standing to sue in light of the FDIC being a receiver of both the failed bank's assets and rights of the bank's stockholders.
March 21, 2025
Latham-Led Online Ticket Giant StubHub Files IPO

Private equity- and venture-backed online ticket reseller StubHub Holdings Inc. on Friday filed its long-awaited initial public offering plans, represented by Latham & Waktins LLP and underwriters counsel Cooley LLP.
March 21, 2025
SEC Guidance Moves Needle In Favor Of Private Fundraising

The U.S. Securities and Exchange Commission's recent guidance on how accredited investors can self-certify when participating in broadly publicized private placements simplifies legal compliance for issuers, according to attorneys, though the jury is still out on whether market participants will embrace the new framework.
March 21, 2025
Ex-Jefferies Employee Says Age Bias Led To Termination

Investment bank Jefferies LLC has been sued by a former assistant vice president who alleged he was fired under the pretext of working from home too much and that he was actually a victim of age discrimination.
March 21, 2025
Chicago Feds Charge 7 Over Alleged $214M Pump-And-Dump

Federal prosecutors on Friday charged seven foreign nationals over a "pump and dump" scheme in which they allegedly posed as U.S.-based investment advisers online and artificially raised the stock price of a company purporting to provide educational services in China, raking in more than $200 million when they sold their shares.
March 21, 2025
Israel-Focused SPAC Raises $125M To Pursue Merger

Shares of Gesher Acquisition Corp. II began trading on the Nasdaq on Friday after the blank-check company detailed plans to raise $125 million in its initial public offering with the goal of merging with an Israeli company.
March 21, 2025
Credit Unions Denied Class Cert. In NY Rate Cut Suit

A trio of Western New York credit unions can't get certification for a class of state court consumer debt judgment holders after a lengthy "abusive and tactical" delay in filing their certification bid in a suit over a state law aimed at decreasing the default interest rate for such judgments, a Manhattan federal judge found.
March 20, 2025
OCC Says It Will Stop Examining Banks For Reputation Risk

The Office of the Comptroller of the Currency said Thursday that it will no longer examine banks for reputation risk, adopting a policy change that some Republican lawmakers want to require for all federal banking regulators to help curb so-called debanking.
March 20, 2025
Iowa Adviser To Pay $15M Over SEC Conflict Claims

An Iowa-based adviser has been ordered to pay $15 million over claims from the U.S. Securities and Exchange Commission that it invested client assets in funds that benefited an affiliated broker-dealer instead of lower-cost alternatives, without disclosing its conflicts of interest.
March 20, 2025
Fla. Fund Sued In Del. After Denying Investor Redemptions

Investors in Florida-based limited partnership P and J Titan Fund LP sued the fund, its general partner, sole director and investment manager in Delaware's Court of Chancery on Tuesday, alleging improper redemption refusals and diversions of funds.
March 20, 2025
Bitcoin Rival Can't Reargue $2M Suit Against Grayscale

Cryptocurrency firm Osprey Funds LLC can't reargue claims that the Connecticut Unfair Trade Practices Act governs its bitcoin feud with digital asset management firm Grayscale Investments LLC, a Connecticut state judge has ruled.
March 20, 2025
South Korea Can't Nix $32M Award To US Hedge Fund

South Korea on Thursday lost its bid to set aside an arbitral award ordering it to pay some $32 million to a U.S. hedge fund following a dispute over a government bribery scandal that allegedly underpinned the $8 billion merger of two Samsung affiliates in 2015.
March 20, 2025
2nd Circ. Appears Open To Restarting IBM Pension Fight

The Second Circuit on Thursday seemed to lean toward reviving a proposed class action alleging IBM shorted retirees on pension payments through the use of outdated mortality data, with two judges asking questions about possible summary judgment proceedings in the case.
March 20, 2025
NC Statehouse Catch-Up: Helene, Crypto, Curbing The AG

Hurricane Helene is still center stage in the North Carolina General Assembly nearly six months after it tore through a large swath of the state, with the governor signing off on the latest round of funding as one lawmaker seeks to carve out cash to rebuild a destroyed courthouse.
March 20, 2025
Oracle Eyes Stake In TikTok's US Entity, And More Rumors

Oracle is considering acquiring a stake in TikTok's U.S. operations that would allow the social media giant to continue doing business here under certain security assurances. Meanwhile, Brookfield Asset Management has emerged as the top contender to acquire Colonial Pipeline, and German drugmaker Stada is delaying its IPO until at least September because of market volatility. Here, Law360 breaks down the notable deal rumors from the past week.
March 20, 2025
Lockheed Workers Claim Self-Dealing In 'DIY' 401(k) Plans

Lockheed Martin engaged in self-dealing through "DIY" management of its $50 billion retirement plans by tapping in-house investment funds that significantly underperformed independent offerings on the market, a group of workers claimed in Maryland federal court.
March 20, 2025
Marathon Clinches 2nd Credit Fund With $2.7B Committed

Public and private credit-focused Marathon Asset Management on Thursday said it wrapped its second global opportunistic credit strategy with $2.7 billion in tow, including affiliated and co-investment vehicles.
March 20, 2025
AI Startup CoreWeave Launches Plans For $2.5B IPO

Artificial intelligence-focused startup CoreWeave Inc. on Thursday set plans for an estimated $2.5 billion initial public offering, represented by Fenwick & West LLP and underwriters' counsel Latham & Watkins LLP, likely launching the largest IPO of 2025.
March 19, 2025
Colo. Adviser Says SEC Can't Seek Suspension

A Colorado-based municipal adviser and his company have sued the U.S. Securities and Exchange Commission, asserting that the regulator violated their right to due process with administrative moves to revoke their registration following its partial summary judgment win in first-of-its-kind enforcement litigation.
March 19, 2025
Turn/River Clinches 6th Fund With $2.5B Of Committed Capital

Software-focused private equity firm Turn/River Capital, advised by Kirkland & Ellis LLP, on Wednesday announced that it closed its sixth fund with $2.5 billion in tow.
March 19, 2025
How Cleary, Simpson Thacher Went To The Mattresses With FTC

The Federal Trade Commission's attempt to block Tempur Sealy's $5 billion bid to acquire retailer Mattress Firm suffered a likely fatal blow when a Texas federal court refused to put the merger on hold.
March 19, 2025
AI Is Growing Focus For Corporate Boards, Proxy Proposals

Public companies and their investors increasingly set their sights on artificial intelligence last year, according to a report released Wednesday indicating the rapidly evolving technology was a major focus when it came to both board-level oversight and shareholder proxy proposals.
March 19, 2025
Law360 Announces The Members Of Its 2025 Editorial Boards

Law360 is pleased to announce the formation of its 2025 Editorial Advisory Boards.
March 18, 2025
Citi, HSBC Ink $12M Deal To End UK Bond Price-Fixing Suit

A New York federal judge gave his preliminary blessing Monday to a $12 million settlement between investors and major financial institutions, including Citigroup and HSBC Bank, in a proposed antitrust class action accusing the banks' traders of colluding to fix the prices of U.K. government bonds through digital communications.
March 18, 2025
PetroSaudi Says Feds' Suit Over $380M Award Must Proceed

A PetroSaudi unit is fighting the U.S. government's bid to stay its years-long suit to seize part of a $380 million arbitral award while criminal proceedings in Switzerland play out against the unit's former owner, telling a California federal court the move is a stall tactic.

Expert Analysis

A Look At PCAOB's Record-Breaking Enforcement In 2024

The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.
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Exercising On My Peloton Bike Makes Me A Better Lawyer

While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.
Predicting What's Next For SEC By Looking At Past Dissents

While Paul Atkins' nomination to be the next chair of the U.S. Securities and Exchange Commission has taken center stage, an analysis of Republican Commissioners Hester Peirce and Mark Uyeda's past votes and dissents provides a preview of where enforcement may shift in the new administration, say attorneys at Gibson Dunn.
Exploring Venue Strategy For Trump-Era Regulatory Litigation

Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
What 2024's Noncompete Turmoil Means For Banks In 2025

A look back at the most significant legal challenges to the enforceability of various restrictive covenants like noncompete and nonsolicitation agreements in 2024 can help financial institutions address the use of these critical tools this year, say attorneys at Maynard Nexsen.
New Year, New Risks: 8 Top Cyber Issues For Finance In 2025

As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.
8 Trends And Predictions Following PE's Late 2024 Surge

Private equity will remain at the forefront of value creation in 2025, and anticipated market trends include sponsors' desire to return capital to investors and a more business-friendly tack by the Antitrust Division of the U.S. Department of Justice, say attorneys at Weil.
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Playing Esports Makes Me A Better Lawyer

Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
The Securities Litigation Trends That Will Matter Most In 2025

2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.
An Associate's Guide To Career Development In 2025

As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
What To Watch For In The 2025 Benefits Landscape

While planning for 2025, retirement plan sponsors and service providers should set their focus on phased implementation deadlines under both Secure 1.0 and 2.0, an upcoming U.S. Supreme Court ruling, and the fate of several U.S. Department of Labor regulations, says Allie Itami at Lathrop GPM.
How White Collar Enforcement May Shift In Trump's 2nd Term

After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.
The Justices' Securities Rulings, Dismissals That Defined '24

The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.
10 Noteworthy CFPB Developments From 2024

In a banner year for consumer finance regulation, the Consumer Financial Protection Bureau made significant strides in its efforts to rein in Big Tech and nonbank financial firms, including via rules regarding open banking, credit card late fees, and buy now, pay later products, say attorneys at Wiley.
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Fixing Up Cars Makes Me A Better Lawyer

From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.