Asset Management

  • October 16, 2024

    ConocoPhillips Targets Hedge Fund Over Del. Citgo Sale

    ConocoPhillips has initiated a new lawsuit in Delaware in an attempt to preserve the value of Citgo's indirect parent company, PDV Holding Inc., for an upcoming auction aimed at satisfying Venezuelan debt, as Connecticut hedge fund Gramercy allegedly threatens to undermine the long-awaited Citgo sales process.

  • October 16, 2024

    Ex-Davis Polk Atty Drops Appeal Of Bias Verdict Loss

    A former Davis Polk & Wardwell LLP associate on Tuesday dropped his appeal of a jury verdict clearing the firm and two lawyers of liability in a suit alleging he was fired in retaliation for airing concerns about racial bias and diversity.

  • October 16, 2024

    En Banc DC Circ. Will Revisit Campaign Finance Appeal

    The full D.C. Circuit will revisit an appeal implicating the court's authority to review the Federal Election Commission's decisions on campaign finance complaints when those decisions rest on commissioners' so-called prosecutorial discretion.

  • October 16, 2024

    Hawaii Utility Beats Investor Suit Over Wildfire, For Now

    A California judge on Tuesday dismissed a shareholder suit filed against Hawaiian Electric Industries Inc. in the wake of a deadly fire on Maui in 2023, but will allow plaintiffs to amend their claims that the company failed to warn investors about its inadequate risk mitigation program.

  • October 16, 2024

    NYSE Seeks To Curb Reverse Splits In Latest Crackdown

    The New York Stock Exchange wants to limit companies' ability to rely on reverse stock splits to raise their share prices and avoid delisting, submitting a proposal shortly after regulators approved a Nasdaq plan to rein in such splits.

  • October 16, 2024

    PE Firm Trashed Exec To Avoid Payout In $98M Deal, Suit Says

    A Summit Partners affiliate and several executives concocted false allegations of misconduct to get out of fully compensating the owner of an investment management firm as part of an acquisition worth a reported $97.6 million, according to a complaint filed in Massachusetts state court.

  • October 16, 2024

    Duquesne University Beats Ex-Gift Officer's Age Bias Suit

    Duquesne University defeated a former gift officer's suit claiming he was fired for complaining that his boss reassigned work to a younger employee because he was in his 60s, with a Pennsylvania federal judge ruling that he failed to identify a comparable colleague who was treated better.

  • October 16, 2024

    Skadden Drives Forest Road To Formula E Team Acquisition

    Los Angeles-based investment firm The Forest Road Company, advised by Skadden Arps Slate Meagher & Flom LLP, has purchased the ERT Formula E team. The team is rebranding as Kiro Race Co as it prepares to enter the 11th season of the ABB FIA Formula E World Championship under new ownership.

  • October 15, 2024

    10th Circ. Won't Reboot Short Sellers' Suit Against Overstock

    In a decision dealing with matters of first impression, the Tenth Circuit on Tuesday declined to revive a hedge fund's proposed class action accusing Overstock.com Inc. and its leadership of manipulating the market when it said it would pay shareholders using cryptocurrency but abandoned the plan to force short sellers into a "squeeze."

  • October 15, 2024

    Kirkland-Led Boeing Seeks Up To $35B Amid Labor Strike

    Boeing notified regulators on Tuesday of plans to raise up to $35 billion through securities offerings and a credit agreement, guided by Kirkland & Ellis LLP, as the aviation giant seeks access to cash amid a prolonged strike and production cuts.

  • October 15, 2024

    Benefit Cos. Urge Justices Take Up Cert. Fight From 5th Circ.

    Three benefit companies urged the U.S. Supreme Court to review a Fifth Circuit decision upholding certification of a class of more than 290,000 workers in a suit alleging excessive health and retirement plan fees, arguing the justices need to iron out a circuit split on standing requirements.

  • October 15, 2024

    Hedge Fund Urges Justices To Hear Swing-Trade Case

    The U.S. Supreme Court has been asked by a hedge fund facing insider trading allegations to address "significant and recurring issues" that allowed a 1-800-Flowers.com shareholder to proceed with his derivative lawsuit despite failing to prove that the company was harmed in any way by the fund's short-swing trades.

  • October 15, 2024

    4 Firms Steer Ownership Shakeup At 'Dune' Movie Maker

    Legendary Entertainment has completed a buyout of Chinese company Wanda Group's remaining equity interest in the movie studio behind "Dune" and "Dune: Part Two," a deal that gives sole ownership of the company to Legendary's management and funds managed by affiliates of Apollo.

  • October 15, 2024

    Three Cos. Combine On $3.4B Texas Data Center Complex

    Blue Owl Capital, infrastructure firm Crusoe Energy Systems and investor Primary Digital Infrastructure said Tuesday they are pooling $3.4 billion to build a 1 million-square-foot data center campus in Abilene, Texas.

  • October 15, 2024

    PE-Backed Ingram Micro Leads 2 IPOs Seeking $466M Total

    Private equity-backed information technology company Ingram Micro Holding Corp. on Tuesday unveiled a price range on an estimated $400 million initial public offering set to price next week, one of two companies to launch plans for IPOs that could net $466 million combined.

  • October 15, 2024

    Willkie-Led Insight Partners Clinches $1.5B Continuation Fund

    Willkie Farr & Gallagher LLP-advised Insight Partners, a private equity shop focused on investing in software, on Tuesday announced that it wrapped its third continuation fund after raising approximately $1.5 billion of commitments.

  • October 15, 2024

    Frontier May Be Worth 2 Times Verizon's Bid, Investor Warns

    Frontier Communications Parent Inc. stockholder Cooper Investors Pty Ltd. on Tuesday expressed "strong opposition" to Verizon Communications Inc.'s planned $20 billion deal to absorb the company, arguing Frontier could be worth nearly double the $38.50 per share that Verizon plans to pay.

  • October 15, 2024

    Law Firms Diverge As Anti-ESG Pushback Continues

    A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.

  • October 15, 2024

    The 2024 Law360 Pulse Social Impact Leaders

    Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.

  • October 15, 2024

    Paul Weiss Steers Apollo In $4.8B Direct Lending Fundraise

    Private equity giant Apollo Global Management Inc., advised by Paul Weiss Rifkind Wharton & Garrison LLP, announced on Tuesday that it closed its sophomore large-cap direct lending fund after securing roughly $4.8 billion of capital.

  • October 15, 2024

    Justices Won't Review Atty Fee Denial In DOL Stock Plan Case

    The U.S. Supreme Court declined Tuesday to hear a construction design firm's push for attorney fees following its win in a U.S. Department of Labor case alleging the company mismanaged an employee stock ownership plan, leaving the Ninth Circuit's rejection of the bid for fees intact.

  • October 11, 2024

    M&A Dispute Triggers Could Shift Moving Into 2025

    Legal disputes are a fact of life when it comes to mergers and acquisitions, but the deal provisions seen as the most likely to spur conflict have shifted since the impacts of the COVID-19 pandemic have subsided, according to attorneys surveyed in a new report from Berkeley Research Group. 

  • October 11, 2024

    Fintech-Focused Cohen SPAC Leads 2 IPOs Worth $250M

    Cohen Circle Acquisition Corp. I, a special purpose acquisition company founded by financial services industry veteran Betsy Cohen, began trading Friday, one of two SPACs that completed initial public offerings for a combined $250 million.

  • October 11, 2024

    Cornell Case Gives Justices Chance To Curb ERISA Litigation

    The U.S. Supreme Court's recent decision to hear a retirement fee suit from Cornell workers means new precedent is coming that could harmonize an uneven set of circuit standards for what it takes to pursue a prohibited transaction claim under federal benefits law, attorneys say.

  • October 11, 2024

    Judge Doubts FTX Alum Needs Further Dog Bite Recovery

    A Manhattan federal judge has denied a bid from former FTX executive Ryan Salame to further postpone the start of his 7½-year prison sentence, saying he had already benefited from "extremely generous" delays, and agreeing with prosecutors that Salame appeared to have largely recovered from a dog bite that he said he suffered in June.

Expert Analysis

  • Bank M&A Continues To Lag Amid Regulatory Ambiguity

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    Bank M&A activity in the first half of 2024 continued to be lower than in prior years, as the industry is recovering from the 2023 bank failures, and regulatory and macroeconomic conditions have not otherwise been prime for deals, say Robert Azarow and Amber Hay at Arnold & Porter.

  • Why The SEC Is Targeting Short-And-Distort Schemes

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    The U.S. Securities and Exchange Commission's recent crackdown on the illegal practice of short-and-distort trades highlights the urgent need for public companies to adopt proactive measures, including pursuing private rights of action, say attorneys at Baker McKenzie.

  • Series

    Playing Dungeons & Dragons Makes Me A Better Lawyer

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    Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.

  • 3 Leadership Practices For A More Supportive Firm Culture

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    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • Series

    After Chevron: Don't Let Loper Lead To Bank Compliance Lull

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    Banking organizations are staring down a period of greater uncertainty over the next few years as the banking agencies and industry navigate the post-Chevron world, but banks must continue to have effective compliance programs in place even in the face of this unpredictability, say Lee Meyerson and Amanda Allexon at Simpson Thacher.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

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    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Enron Law Is Still Threat To Execs After Justices' Jan. 6 Ruling

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    While the U.S. Supreme Court’s recent Fischer v. U.S. decision is a setback for prosecutors’ obstruction charges against Jan. 6 defendants, it also represents a strong endorsement of the post-Enron Sarbanes-Oxley Act’s original purpose, serving as a corporate compliance reminder for executives, say Michael Peregrine and Ashley Hoff at McDermott.

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

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    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • 2nd Circ. Case Reinforces Need For Advance Notice Bylaws

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    The Second Circuit's recent decision in Nano Dimension v. Murchinson illustrates that Section 13(d) of the Exchange Act is a square peg for a round hole, and that advance notice bylaws are far better at protecting against undisclosed coordination among activist shareholders, say attorneys at Morgan Lewis.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

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    As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.

  • 3 Ways To Lower Insider Trading Risk After First 10b5-1 Case

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    In light of the U.S. Department of Justice's insider trading prosecution against the former CEO of Ontrack based on alleged abuse of a Rule 10b5-1 safe harbor plan — designed to allow executives to sell their companies' securities without liability — companies and individuals should take steps to avoid enacting similar plans in bad faith, say attorneys at Jenner & Block.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • Evolving Regulatory Oversight For AI And Asset Management

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    Attorneys at K&L Gates discuss the evolving regulatory and legislative landscape for artificial intelligence in the asset management industry, as the U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission and Congress consider how to address potential investor protection and systemic risks associated with AI.

  • Series

    After Chevron: ERISA Challenges To Watch

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    The end of Chevron deference makes the outcome of Employee Retirement Income Security Act regulatory challenges more uncertain as courts become final arbiters of pending lawsuits about ESG investments, the definition of a fiduciary, unallocated pension forfeitures and discrimination in healthcare plans, says Evelyn Haralampu at Burns & Levinson.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

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