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Asset Management
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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March 18, 2025
Nasdaq Plans New Regional HQ In Texas Amid Competition
Nasdaq said Tuesday it plans to build a regional headquarters in Dallas, marking the latest move among major stock exchanges to expand operations in Texas amid fierce competition for visibility in the Lone Star State.
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March 18, 2025
Trustee Files 2nd Suit Over Fuel Co. Execs' Alleged Looting
The bankruptcy trustee of failed fuel distributor Mountain Express Oil Co. has filed a second lawsuit over the Georgia company's alleged financial mismanagement, accusing its former top executives of using a host of associated companies to loot its assets as the company spiraled toward insolvency.
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March 18, 2025
Judge Probes Atty Conflict In Vanguard $40M Settlement
A Pennsylvania federal judge questioned whether attorneys representing investors suing Vanguard over surprise tax bills have a conflict of interest in pushing for a $40 million settlement, adding to concerns about a parallel regulatory settlement that has delayed approval of the deal.
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March 18, 2025
Convicted Insurance Mogul's Co. Liable For $57M Fraud
A Malta-based advisory firm controlled by convicted insurance mogul Greg Lindberg violated the Investment Advisers Act of 1940 by helping facilitate his misappropriation of $57 million in client funds, a North Carolina federal court ruled, noting Lindberg and another firm executive already admitted to fraud in separate consent judgments.
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March 18, 2025
Fried Frank Adds Simpson Thacher Private Funds Pro In NY
Fried Frank Harris Shriver & Jacobson LLP has expanded its global asset management practice with the addition of a longtime Simpson Thacher & Bartlett LLP attorney, the firm announced Tuesday.
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March 18, 2025
4 Firms Lead Ukrainian Telecom Firm's $2.2B SPAC Merger
The owner of Ukrainian telecommunications operator Kyivstar on Tuesday announced plans to merge with special purpose acquisition company Cohen Circle Acquisition Corp. I in a deal that will take Kyivstar public at an estimated $2.2 billion valuation, guided by four law firms.
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March 18, 2025
Hogan Lovells Adds Ex-Apis Atty Amid Expected M&A Pickup
The former head of legal compliance at Apis & Heritage Capital Partners is now Hogan Lovells' head of New York financial institutions mergers and acquisitions, the firm announced Monday as it prepares for what it expects will be a rise in M&A activity.
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March 18, 2025
M&A Disputes Expected To Jump Once Again In 2025
Dealmakers around the world expected more mergers and acquisitions disputes in 2025 for the second year in a row, as financial risk management strategies that helped deals close in 2024 were viewed as potential fuel for disputes this year, according to Berkeley Research Group's sixth annual M&A Disputes Report released Tuesday.
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March 17, 2025
Debevoise Atty Goes In-House As TPG's Legal Chief
Global asset manager TPG announced Monday that it has hired Debevoise & Plimpton LLP partner Jennifer Chu to take over as its chief legal officer and general counsel, saying her deep "experience, leadership expertise and judgment" are an ideal match for the rapidly expanding firm.
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March 17, 2025
Private Equity Billionaire Greenlighted As Pentagon's No. 2
Private equity billionaire Stephen Feinberg was confirmed as deputy defense secretary on Friday by a 59-40 vote in the U.S. Senate.
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March 17, 2025
4 Suits Benefits Attys Should Watch As ESG Pressures Persist
A New York City pension fund recently escaped a proposed class action challenging its decision to divest nearly $4 billion in fossil fuel stocks, but experts say potential liability related to environmental, social and governance investment factors in retirement plan investment decisions is on the rise. Here are four suits involving challenges to employee retirement plan investing and ESG that attorneys say they're watching after New York City escaped a suit from its workers.
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March 17, 2025
SEC's Acting Chair Uyeda Promises To Slow Rulemaking
Acting U.S. Securities and Exchange Commission Chair Mark Uyeda said Monday that he has directed staff to reassess a number of finalized and proposed regulations championed by the Biden administration, including those targeting mutual fund disclosures and the handling of crypto assets, as he championed a "smoother regulatory course" for the agency.
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March 17, 2025
$4.4B Alteryx Sale Was Lowball Offer, Investors Tell Del. Court
Former stockholders of cloud-based enterprise analytics platform Alteryx Inc. have challenged the venture's allegedly lowball, $4.4 billion sale in 2024 to two private equity buyers, claiming breaches of fiduciary duty in Delaware Chancery Court that include undisclosed conflicts among directors and key officers.
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March 17, 2025
Fraud Victims Claim CRE Fintech Firm Skirted Securities Law
A group of investors pointed to a recent fraud case in seeking to claw back more than $1 billion raised by fintech firm CrowdStreet, claiming in a proposed class action filed in Texas federal court that the platform operated outside state and federal financial regulations for a decade.
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March 17, 2025
RRJ Capital Leads $600M Investment In Aviation Biz Vista
Private aviation group Vista, advised by Latham & Watkins LLP, on Monday revealed that it secured a $600 million equity investment from a group of investors led by Asian investment firm RRJ Capital.
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March 17, 2025
Kleinberg Kaplan Adds Simpson Thacher Atty As Tax Partner
Kleinberg Kaplan announced Monday that it has added a Simpson Thacher & Bartlett LLP attorney to help provide clients with expertise on tax aspects of private investment fund formation and operation, as well as mergers and acquisitions, joint ventures and financings.
Expert Analysis
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What Remedies Under New Admin's SEC Could Look Like
The U.S. Securities and Exchange Commission is likely to substantially narrow the remedies it pursues over the next few years, driven by the mounting challenges it faces in court, as well as the views of its incoming chair and fellow Republican commissioners on injunctions, penalties and disgorgement, say attorneys at Milbank.
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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BlackRock Suit Highlights Antitrust Risks Of ESG
In Texas v. BlackRock, pending in Texas federal court, 13 state attorneys general are suing large institutional investors in the coal business, underscoring key reasons companies may want to alter their approach to developing and implementing policies related to environmental, social, and governance factors, especially if coordination with competitors is involved, say attorneys at Manatt.
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Suggestions For CFTC Enforcement's New Leadership
The recent change in leadership at the U.S. Commodity Futures Trading Commission presents an opportunity to reflect on past practices and consider opportunities for improvement at the commission's Enforcement Division, including in observing precedent and providing greater enforcement transparency, say attorneys at Clifford Chance.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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A Closer Look At FDX's New Role As Banking Standard-Setter
Should the new Consumer Financial Protection Bureau let stand the decision empowering Financial Data Exchange as an industry standard-setter, it will be a significant step toward broader financial data-sharing, but its success will depend on industry adoption, regulatory oversight and consumer confidence, say attorneys at Clark Hill.
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Partially Faulting Airline For 401(k) ESG Focus Belies ERISA
A Texas federal court's recent finding that American Airlines breached its fiduciary duty of loyalty, but not of prudence, by letting its 401(k) pursue environmental, social and governance investments, misinterprets the Employee Retirement Income Security Act's standard of care, says Jeff Mamorsky, a Cohen & Buckmann partner and ERISA drafter.
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Fund Names Rule FAQs Leave Some Interpretative Uncertainty
Although recently released FAQs clarify many specific points of the 2023 expansion to the Investment Company Act's fund names rule, important questions remain about how U.S. Securities and Exchange Commission staff will interpret other key terms when the end-of-year compliance date arrives, say attorneys at Dechert.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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5 Major Crypto Developments From The Trump Admin So Far
The early weeks of the Trump administration have set the stage for a significant transformation in U.S. digital asset policy by prioritizing regulatory clarity, innovation and a shift away from enforcement-heavy tactics, but many of these changes will require congressional support and progress may be gradual, say attorneys at Ropes & Gray.
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Class Actions At The Circuit Courts: February Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses five federal appellate court class certification decisions and identifies practice tips from cases involving breach of life insurance contracts, constitutional violations of inmates and more.
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Comparing 2 Pending Bills To Regulate Stablecoins
Alexandra Steinberg Barrage at Troutman analyzes the key similarities and differences between two payment stablecoin proposals currently pending in Congress — the STABLE and GENIUS acts — as both chambers are forming a working group to deliver a clear regulatory framework for digital assets and bipartisan agreement appears within reach.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.