Asset Management

  • October 10, 2024

    Suits Over JPMorgan Cash Sweeps Program Merged In NY

    A New York federal judge has combined two proposed class actions accusing JPMorgan Chase of underpaying interest on customers' cash sweep accounts, a claim multiple banking giants are currently facing in consumer and regulatory actions.

  • October 10, 2024

    Sen. Warren, Novo At Odds On Merits Of $16.5B Deal

    Sen. Elizabeth Warren on Thursday raised the alarm on Novo Holdings' planned $16.5 billion purchase of Catalent, arguing the transaction could give Novo "unprecedented" control over the production of certain obesity drugs by Eli Lilly and other top competitors, but Novo insists the deal would give it no such edge.

  • October 10, 2024

    Pfizer Threatened To Sue Former Execs, Starboard Says

    Activist investment firm Starboard Value has set its sights on pharmaceutical giant Pfizer, issuing a letter Thursday that alleges Pfizer has threatened to sue former executives that Starboard is working with and expresses "concerns about the trajectory of the business."

  • October 10, 2024

    Investor Connected To Texas AG Seeks To Ax Fraud Case

    Nate Paul, a real estate investor at the heart of the failed impeachment of Texas Attorney General Ken Paxton, has moved to dismiss federal wire fraud and conspiracy charges against him, arguing that the indictment does not claim that he acted willfully when allegedly ripping off lenders and investors.

  • October 10, 2024

    Sports Tech Sees Threefold Increase In M&A Deal Values

    The sports tech sector saw a more than threefold increase in merger and acquisition deal values in the first half of this year compared with the second half of 2023, with more than $27 billion in transactions led by Silver Lake's $13 billion take-private acquisition of Endeavor Group, according to a report released by global tech investment bank Drake Star on Thursday.

  • October 10, 2024

    Fiduciary Co. Asks Justices To Weigh ERISA Arbitration Denial

    A fiduciary services provider urged the U.S. Supreme Court to review the Second Circuit's decision blocking arbitration in a proposed class action alleging a debt relief company overcharged an employee stock ownership plan, arguing the ruling demonstrated a "judicial hostility" to arbitration that justices have warned against.

  • October 10, 2024

    Hyundai Plans IPO For Indian Biz, Plus More Rumors

    Hyundai's Indian unit is eyeing a massive $3.3 billion initial public offering, rumors are swirling regarding ownership stakes of major European soccer clubs, and Saudi Arabia’s Public Investment Fund may buy a $1 billion minority stake in sports-streaming giant DAZN. Here, Law360 breaks down these and other notable rumors from the past week.

  • October 10, 2024

    Brazilian Firm Cites Market Conditions In Delaying US IPO

    Private equity-backed lubricants maker Moove Lubricants Holdings is hitting pause on initial public offering plans because of "adverse market conditions," according to a Wednesday securities filing from its parent company.

  • October 10, 2024

    Siguler Guff Snags Over $900M For Credit Opportunities Fund

    New York-based private markets investment firm Siguler Guff & Company LP, advised by Ropes & Gray LLP, on Thursday announced that it closed its third small business lending fund and related accounts with more than $900 million in tow.

  • October 10, 2024

    Longtime Mayer Brown Counsel Joins Potomac Law Group

    Alan Velasco worked for years as an engineer before launching his law practice at Mayer Brown in the early 2010s. Now, after 11 years with the firm, he's closed the book on the first chapter of his legal career to join Potomac Law Group as a partner in San Francisco.

  • October 09, 2024

    Team Of 3 Firms Seeks To Lead UBS Cash Sweep Case

    Two UBS customers suing the investment bank on allegations of shortchanging them with low-yielding cash sweep accounts moved Tuesday to consolidate their proposed class actions in New York federal court and install three firms at the helm.

  • October 09, 2024

    Chancery Keeps $5B Md. Data Center Project Fight In Del.

    A court battle over control and management of early work on a potential $5 billion data complex in western Maryland will remain in the First State despite a marginally earlier-filed suit in Texas' new business court, a Delaware vice chancellor ruled late Wednesday.

  • October 09, 2024

    Hedge Fund Agrees To Drop Spoofing Claims Against TD Bank

    Broker-dealer affiliates of TD Bank will no longer face a hedge fund's claims that they manipulated markets by placing trade orders they never intended to fulfill, the parties told a Manhattan federal judge.

  • October 09, 2024

    Gensler Mum On Future As AI, Crypto Rules Await Action

    U.S. Securities and Exchange Commission Chair Gary Gensler declined to comment Wednesday on his or the agency's future should former U.S. President Donald Trump win a second term in office this November, even as questions remain about the post-election future of proposed regulations, like those that would safeguard crypto assets and crack down on the use of predictive data analytics.

  • October 09, 2024

    Atty, Claims Firm Barred From Soliciting Foreclosure Class

    A Michigan law firm and a third-party claims firm agreed Wednesday not to solicit potential members to an action alleging Michigan counties kept profits from foreclosures of tax-delinquent properties, following a meeting with class attorneys who had urged a judge to bar them from attempting to poach class members.

  • October 09, 2024

    Del. Justices Told Noncompete Toss Will Upend State Doctrine

    An attorney for an Illinois-based auto parts company urged Delaware's Supreme Court on Wednesday to clarify recent court precedent on employee "forfeiture-for-competition" agreements, saying a federal court strike-down of the company's forfeit action against a former manager would be "anathema" to Delaware's "contractarian doctrine and tradition" if upheld.

  • October 09, 2024

    Kohl's Sued After Vendor Hack Leaks 1.9M Customers Files

    Kohl's department store customers hit the retail giant on Wednesday with a putative breach of implied contract class action in Pennsylvania federal court alleging the store failed to protect data from 1.9 million customers from a hack targeting a contractor the retailer uses for debt collection.

  • October 09, 2024

    Insurer Wins Ex-PwC Exec's Long-Term Disability Suit

    An Illinois federal judge handed Hartford Life and Accident Insurance Co. a win in a federal benefits lawsuit from a former PricewaterhouseCoopers LLP executive who alleged she was wrongly denied long-term disability benefits after fibromyalgia left her unable to continue working.

  • October 09, 2024

    Payment Processor Accuses Pot Biz Of Ending Contract Early

    A Florida-based payment processor accused a cannabis merchant of ending a three-year contract early and blowing off requests for an agreed-upon termination fee, putting the processor out nearly $320,000.

  • October 09, 2024

    Spanish Baker Europastry Delays But Won't Give Up On IPO

    Family-owned frozen bakery products giant Europastry S.A. has iced plans for an initial public offering, four months after unveiling plans to raise €225 million ($246 million) on Spanish stock exchanges.

  • October 09, 2024

    SEC Equity Trading Reforms Spark DC Circ. Challenge

    The U.S. Securities and Exchange Commission is facing a legal challenge in the D.C. Circuit over recent equity trading regulatory changes that allow stocks to be quoted in half-penny increments and lower access fee caps. 

  • October 09, 2024

    SEC Awards $5M To 3 Whistleblowers, Denies Award To 4th

    The U.S. Securities and Exchange Commission awarded more than $5 million to three unidentified whistleblowers while denying a fourth applicant's bid for a payout, in a partially redacted order saying the applicant's provided information did not cause the commission to open an investigation or inquiry.

  • October 09, 2024

    Duane Morris Adds Corporate, Banking Partner In New York

    Duane Morris LLP has brought on a former Stinson LLP partner for its corporate practice group in New York, the firm said Wednesday.

  • October 09, 2024

    7 Firms Lead Deal Forming Insurance, Asset Management Biz

    Private investment firm CC Capital and Canadian financial services company The Westaim Corp. on Wednesday announced plans to launch an integrated insurance and asset management platform through a partnership built by seven law firms.

  • October 09, 2024

    Fla. University Inks $1.5M Deal In 401(k) Mismanagement Suit

    A Florida university struck a $1.5 million deal with a class of employees that claimed the school weighed down its $400 million retirement plan with excessive recordkeeping fees and shoddy investment funds.

Expert Analysis

  • Parsing Controversial Del. General Corporation Law Proposals

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    In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

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    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Takeaways From SEC's New Data Breach Amendments

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    The U.S. Securities and Exchange Commission's recent amendment of its consumer privacy rules to require investment advisers and broker-dealers to put procedures in place to uncover data breaches and report them to customers evidences that protecting client records and information remains an SEC priority, say attorneys at Simpson Thacher.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • BF Borgers Clients Should Review Compliance, Liability

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    After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • Opinion

    Del. Needs To Urgently Pass Post-Moelis Corporate Law Bill

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    After the Delaware Chancery Court's decision in West Palm Beach Firefighters' Pension v. Moelis sparked confusion around governance rights, recently proposed amendments to the Delaware General Corporation Law would preserve the state's predictable corporate governance system, says Lawrence Hamermesh at Widener University Delaware Law School.

  • 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.

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