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Asset Management
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February 28, 2025
5 Argument Sessions Benefits Attys Should Watch In March
The Ninth Circuit will mull Express Scripts and OptumRx's bid to force a public nuisance suit brought by the state of California into federal court, and the Second Circuit will hear from pensioners who say that IBM's use of outdated mortality tables shrank their benefits payouts. Here, Law360 looks at these and other appellate arguments happening in March that should be on benefits lawyers' radar.
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February 28, 2025
Up Next At High Court: Gun Violence Liability & Nuclear Waste
The U.S. Supreme Court will return to the bench Monday to consider Mexico's attempt to hold gun manufacturers and distributors liable for cartel-related gun violence and a nuclear waste site dispute that could determine who can challenge future agency actions.
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February 28, 2025
2nd Circ. Revives Electrical Worker's Union Pension Fight
An electrical worker can try again to argue that two trustees of his union pension fund violated the Employee Retirement Income Security Act by paying themselves over $1 million in compensation from the fund's assets, with the Second Circuit ruling Friday that the worker has standing to sue.
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February 28, 2025
Off The Bench: Trans Ban Recusal Bid, Wemby Spat, Fox Suit
In this week's Off The Bench, a Colorado federal judge won't recuse himself from a case centering on a transgender athlete over his pronoun use, the sale of a high-profile Victor Wembanyama jersey will go forward despite feverish litigation and a sprawling harassment suit against Fox Sports is shuffled from federal to state court.
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February 28, 2025
SEC's Crypto Turn Could Undermine Staff, Dem Member Says
The U.S. Securities and Exchange Commission's sole Democratic member has spoken out against its postelection retreat from prosecuting crypto cases, warning that recent actions like the voluntary dismissal of a lawsuit against Coinbase threaten to undermine the agency's enforcement staff.
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February 28, 2025
SPAC Trio Raise $575M Combined As Market Recovers
Three special purpose acquisition companies began trading on Friday after raising a combined $575 million under guidance from six law firms, adding to a resurgent SPAC market.
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February 28, 2025
NY Man Found Guilty Of $7M Crypto Investment Scheme
A New York man has been found guilty by a California federal jury of 14 counts related to allegations that he stole millions of dollars' worth of investment funds and moved them to sports betting sites located outside the U.S.
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February 28, 2025
Carbon Project Investor C-Quest Hits Ch. 7
Carbon project developer C-Quest Capital has filed for Chapter 7 liquidation in a Delaware bankruptcy court as its ex-CEO faces charges he fraudulently obtained millions of dollars worth of carbon credits.
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February 28, 2025
Time To Abolish IPO 'Bureaucracy,' Law Professor Says
The U.S. Securities and Exchange Commission's long-established practice of vetting initial public offering filings through back-and-forth comment letters with companies — essentially a screening process intended to rectify faulty disclosures before public dissemination — is a bureaucratic relic that should be done away with, a law professor argues.
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February 28, 2025
State Street To Buy Mizuho's $580B Custody Business
State Street Corp. said Friday it has agreed to purchase Mizuho Financial Group Inc.'s global custody and related businesses outside of Japan, which it said support the overseas investments of Mizuho's Japanese clients and hold $580 billion in assets under custody and $24 billion in assets under administration.
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February 27, 2025
Judge Rejects Bid To Halt Sale Of NBA Star's Viral Jersey
A New York state justice on Thursday allowed the sale and delivery of a Victor Wembanyama jersey acquired in a well-publicized swap with a young NBA fan to proceed, according to both sides of the dispute over the jersey's possession.
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February 27, 2025
Norfolk Southern Escapes Investors' Derailment Fraud Suit
A New York federal judge on Thursday dumped a proposed securities fraud class action alleging Norfolk Southern misled investors by falsely touting its commitments to safety while embarking on risky cost-cutting operational and staffing changes that ultimately led to 2023's fiery derailment in East Palestine, Ohio.
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February 27, 2025
SEC Revives Suit Alleging $4.1M Bogus Mutual Fund Scheme
The U.S. Securities and Exchange Commission on Thursday revived a lawsuit accusing a Lithuanian citizen living in the U.S. of using a series of nonexistent mutual funds to bilk dozens of investors out of roughly $4.1 million.
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February 27, 2025
PennyMac Can't Avoid Investors' Suit Over Post-Libor Rate
A California federal judge has ruled PennyMac's mortgage investment arm must face a suit accusing it of using last year's discontinuation of Libor to unlawfully lock in a lower dividend for some of its preferred stock, saying the plaintiffs have adequately pled that the company violated the LIBOR Act when it issued dividends at a fixed rate.
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February 27, 2025
Judge Axes NYC Loan Row, Sanctions Firm For Depositions
A New York federal judge has dismissed a commercial real estate lender's claims against two guarantors for a 2022 loan it made, ripping the lender and its ex-counsel, Fox Rothschild LLP, for deposition no-shows.
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February 27, 2025
$40M Deal OK'd For Suit Over Emergent Vax Flub
A Maryland federal judge approved a $40 million settlement between Emergent BioSolutions Inc. and a class of investors claiming that it misled them about its ability to meet the demands of two high-profile contracts to produce components of COVID-19 vaccines, leading the stock price to tumble after production deficiencies were discovered.
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February 27, 2025
Davis Polk, Kirkland Steer Rithm Capital SPAC's $200M IPO
Special purpose acquisition company Rithm Acquisition Corp., which plans to merge with a company in the financial services or real estate sector, began trading on Thursday after pricing a $200 million initial public offering.
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February 27, 2025
Anthropic Could Hit $62B Valuation, And More Deal Rumors
AI startup Anthropic is close to securing funding at a $61.5 billion valuation, Bain Capital is mulling a sale of Rocket Software at a $10 billion valuation, and various additional private equity players are considering transactions across food, healthcare and finance. Here, Law360 breaks down these and other notable deal rumors from the past week.
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February 26, 2025
Supply Chain Software Co. Sued Over Bad Revenue Guidance
Supply chain software co. Manhattan Associates Inc. has been hit with a proposed class action in Georgia federal court by shareholders claiming the company misled them about its expected revenue and ability to increase its professional service offerings, causing a stock price decline.
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February 26, 2025
Trump Order May Affect Trader's FCPA Conviction, DOJ Says
Federal prosecutors say an oil trader from Connecticut should not win his bid to undo his overseas bribery conviction, but noted that the case's future is uncertain given President Donald Trump's executive order pausing Foreign Corrupt Practices Act cases.
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February 26, 2025
NY Investment Firm Founder Charged With $4M Fraud
The founder of investment firm Never Alone Capital LLC was hit with parallel criminal and civil suits on Wednesday from the Manhattan district attorney and the U.S. Securities and Exchange Commission, alleging he ran a fraudulent scheme that raised approximately $4 million from investors, most of which he then misappropriated for personal use.
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February 26, 2025
Aramark, Spinoff Co. Want 'Fraud By Hindsight' Suit Tossed
Aramark and a uniform supplier spinoff company asked a Georgia federal judge Tuesday to dismiss claims that it intentionally lied to investors about chronic underfunding of the business, accusing a union pension fund of "using a pleading tactic universally condemned by the courts: fraud by hindsight."
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February 26, 2025
Fuel Co. Trustee Accuses Ex-Owners Of $100M Buyout Fraud
The founders and former majority owners of the bankrupt fuel distributor Mountain Express Oil Co. were hit with a lawsuit by the company's trustee Monday alleging that they took nearly $100 million out of the business through a bogus stock buyout that pushed it to the brink of insolvency.
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February 26, 2025
GOP-Led House Panel Pushes Easier Rules On Capital Raising
A U.S. House of Representatives subcommittee invited input Wednesday on a slew of deregulatory bills that seek to ease rules governing private and public securities offerings, drawing plaudits from the Republican majority and mixed responses from Democrats.
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February 26, 2025
Simpson Thacher Guides $1B Real Estate Secondaries Fund
Neuberger Berman, an investment management firm advised by Simpson Thacher & Bartlett LLP, has capped its second real estate private equity secondary fund at $1.05 billion, surpassing its target by $200 million, according to a Wednesday announcement.
Expert Analysis
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5 Evolving Concerns For Family Offices In 2025
Complex regulatory changes and emerging operational risks will force family offices to stay on their toes in 2025, with timely action particularly necessary to address several tax and reporting developments that may affect their investments and business operations, say attorneys at Morgan Lewis.
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2024 Was A Banner Year For Shareholder Activism
Shareholder activism campaigns in 2024 continued at an elevated pace globally, with activist investors exploiting valuation gaps and pushing aggressively for corporate governance reforms, including the ouster of many companies' chief executives, a trend that could continue once President-elect Donald Trump takes office, say attorneys at Sidley.
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7 Ways 2nd Trump Administration May Affect Partner Hiring
President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.
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E-Discovery Quarterly: Rulings On Custodian Selection
Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.
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Impact Of Successful Challenges To SEC's Rulemaking Ability
In 2024, the U.S. Securities and Exchange Commission faced significant legal challenges to its aggressive rulemaking agenda as several of its rules were vacated by the Fifth Circuit, which could hinder the SEC's ability to enact rules extending beyond express statutory authority in the future, say attorneys at Debevoise.
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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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Series
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.
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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.
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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.
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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.
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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.
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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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Series
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.
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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.
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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.