Try our Advanced Search for more refined results
Asset Management
-
November 18, 2024
Bechtel Retiree Seeks Class Status In 401(k) Fee Suit
A Bechtel Global Corp. retiree asked a Virginia federal judge to let her represent 7,000 retirement plan participants in her suit claiming the engineering company overcharged its $5.7 billion plan by tapping a pricey default investment option.
-
November 18, 2024
Comtech Agrees To Board Shake-Up With Ex-CEOs
Comtech Telecommunications Corp. said Monday it has reached an "amicable resolution" with an investor group that includes two former CEOs who had sought a board shake-up, agreeing to the appointment of two new directors and the withdrawal of the CEOs' proposed full slate of directors.
-
November 18, 2024
Silver Point Clinches 3rd Credit Fund With $8.5B In Tow
Connecticut-based credit investing firm Silver Point Capital on Monday announced that it closed its latest credit fund with more than $8.5 billion in tow.
-
November 15, 2024
Trump's SDNY Pick A Familiar Face In Wall Street's Legal Wing
Jay Clayton's nomination to be the Manhattan U.S. attorney would seat a highly regarded Wall Street lawyer in one of the top law enforcement jobs in the country, but he may face headwinds over his industry relationships and lack of criminal prosecution experience.
-
November 15, 2024
Venezuelan Lawyer Relied On Ex-Dentons Atty In $54M Swap
A Venezuelan lawyer suing Dentons over a failed $54 million bolivar-to-dollars currency swap admitted Friday on the stand that he did not do any due diligence for the transaction but instead relied on what he called misinformation from an ex-Dentons attorney that she relayed to his representative.
-
November 15, 2024
3rd Circ. Won't Rehear Moroccan Hotel Fight Over $60M Award
The Third Circuit has declined to rethink its decision reviving a dispute over the enforcement of a $60 million arbitral award favoring the current owner of a luxury hotel in Casablanca, despite an investment group's claims that the ruling is unprecedented and disregards well-established Delaware law.
-
November 15, 2024
SEC Says Risky Bond Recommendations Violated Reg BI
A Texas-headquartered broker-dealer has agreed to pay nearly $154,000 to resolve U.S. Securities and Exchange Commission allegations that it improperly recommended risky bonds in violation of the federal investor protection measure known as Regulation Best Interest.
-
November 15, 2024
SEC's Top Cop Says Election Hasn't Slowed Enforcers Down
The U.S. Securities and Exchange Commission's enforcement attorneys continue to work with "urgency" in the waning months of the Biden administration, the acting leader of the enforcement division said Friday at an event where he also spoke about a shuttered task force and the agency's approach to pursuing cases involving cybersecurity breaches.
-
November 15, 2024
Hedge Fund Group Urges Trump To Reject 'Punitive' Policies
A leading industry group representing hedge funds and other alternative asset managers is urging President-elect Donald Trump to abandon "punitive" economic policies and instead propose tax and regulatory relief, including business-friendly priorities at the U.S. Securities and Exchange Commission.
-
November 15, 2024
Tenneco Asks Justices To Review 6th Circ. Arbitration Denial
Automotive parts company Tenneco asked the U.S. Supreme Court on Friday to review a Sixth Circuit decision from August that refused to force individual arbitration of a proposed class action from workers alleging retirement plan mismanagement, arguing lower courts had disagreed on how to apply federal arbitration law.
-
November 15, 2024
Chinese Self-Driving Startup Pony Revs Up $180M IPO
Chinese autonomous-driver technology provider Pony AI Inc. has launched plans for an estimated $180 million initial public offering, represented by Davis Polk & Wardwell LLP and underwriters' counsel Cleary Gottlieb Steen & Hamilton LLP, marking the latest self-driving startup to seek U.S. capital in order to fund its growth ambitions.
-
November 15, 2024
MVP: Weil's Stephanie E. Srulowitz
Stephanie E. Srulowitz of Weil Gotshal & Manges LLP's U.S. private funds practice led real estate investment firm Crow Holdings Capital Partners in raising a $3.1 billion Fund X, guided Lee Equity Partners to close an oversubscribed $1.3 billion Fund IV and shepherded Graycliff Partners in a $600 million fundraise push, earning her a spot as one of the 2024 Law360 Fund Formation MVPs.
-
November 15, 2024
Katten Atty Brings Derivatives Expertise To Faegre Drinker
Faegre Drinker Biddle & Reath LLP announced a new addition to its New York office on Thursday, touting the derivatives focus the former Katten Muchin Rosenman LLP partner takes to the firm's investment management group.
-
November 15, 2024
Taxation With Representation: Cravath, MoFo, Gibson Dunn
In this week's Taxation With Representation, Cardinal Health takes a majority stake in GI Alliance and acquires Advanced Diabetes Supply Group, Just Eat offloads Grubhub to Wonder Group, Rivian Automotive and Volkswagen Group launch a joint venture, and Ovintiv Inc. buys Montney Basin assets from Paramount Resources Ltd.
-
November 15, 2024
Biden Withdraws Cohen Weiss Atty's PBGC Nomination
President Joe Biden has withdrawn his nomination of a Cohen Weiss & Simon LLP attorney to lead the Pension Benefit Guaranty Corp., four months after putting her name forward and less than two weeks after former President Donald Trump secured a return to the White House.
-
November 14, 2024
Student Loan Servicer Wants CFPB Deal Paused Amid Appeal
The Pennsylvania Higher Education Assistance Agency has asked a Pennsylvania federal judge to pause its obligation to pay more than $3.2 million as a part of a settlement with the Consumer Financial Protection Bureau that is being challenged in the Third Circuit by a third party.
-
November 14, 2024
Ex-JP Morgan Rep To Stop Soliciting Clients Amid Arbitration
A former J.P. Morgan Securities LLC employee who left to work for Morgan Stanley has agreed not to solicit customers from her former employer while the parties arbitrate the broker-dealer's claims she lured clients with more than $12 million in assets away to its rival.
-
November 14, 2024
Judge Presses SEC Over 'Rogue Employee' In PE Fund Fight
A Texas federal judge grilled the U.S. Securities and Exchange Commission over the circumstances that led to a private equity fund suing the regulator alleging it carried out a "fishing expedition" investigation, asking the agency about a "rogue employee" during a hearing Thursday.
-
November 14, 2024
3 Firms Guide UAE Grocery Giant Lulu's $1.7B Market Debut
United Arab Emirates grocery chain Lulu Retail Holdings PLC's shares closed flat in debut trading Thursday following an upsized, $1.7 billion initial public offering that marked the largest UAE listing of 2024, guided by three law firms.
-
November 14, 2024
Crypto And Private Fund Groups Push SEC On Dealer Rule
Crypto industry groups and private fund associations tag-teamed the U.S. Securities and Exchange Commission on Thursday during a hearing over two cases relating to the agency's expanded definition of securities dealers, telling a Texas federal court that the new rule marked a dramatic overreach by the regulator.
-
November 14, 2024
Fenwick-Led AI Firm CoreWeave Inks $650M Secondary Sale
Artificial intelligence-focused startup CoreWeave Inc. has closed a secondary share sale totaling $650 million, represented by Fenwick & West LLP, enabling existing shareholders to sell stock to new investors before an expected initial public offering.
-
November 14, 2024
Whole Foods Workers Seek Massive Class In 401(k) Fee Suit
Former Whole Foods employees have asked a Texas federal judge to turn their suit against the company into a class action, saying they'd like to represent nearly 100,000 current and former employees in litigation accusing the grocery chain of mismanaging its 401(k) plan.
-
November 14, 2024
Boeing Could Sell Navigation Unit For $6B, And More Rumors
Boeing is mulling a sale of its Jeppesen navigation unit at potential $6 billion price tag, Pfizer may be seeking billions for its hospital drug unit, and a U.S. gas station and convenience store business could be sold at a $1.5 billion value. Here, Law360 breaks down these and other notable deal rumors from the past week.
-
November 14, 2024
Ovintiv Buys Montney Assets For $2.4B, Sells Others For $2B
Natural gas producer Ovintiv Inc. said Thursday it will purchase certain Montney Basin assets in Canada from Paramount Resources Ltd. in an all-cash deal worth about $2.38 billion, and also announced plans to divest its Uinta Basin assets in a sale to FourPoint Resources Ltd. and its private equity partners for $2 billion, with at least five law firms advising on the deals.
-
November 14, 2024
'We'll Leave It To Others': SEC's Gensler Hints At Exit
U.S. Securities and Exchange Commission Chair Gary Gensler gave a lengthy speech Thursday about his legacy and what remains to be done on regulations related to investors' climate, artificial intelligence and crypto concerns.
Expert Analysis
-
What To Make Of Dueling Corporate Transparency Act Rulings
Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.
-
Series
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.
-
To Report Or Not To Report Others' Export Control Violations
A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.
-
What FDIC Expansion Of Change In Bank Control Could Mean
A recent Federal Deposit Insurance Corp. proposal pertaining to the Change in Bank Control Act has the potential to create uncertainty around investments by mutual fund complexes in banking organizations, which represent a stable source of capital for the banking industry, say attorneys at Sullivan & Cromwell.
-
State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
-
How BIS' Rule Seeks To Encourage More Voluntary Disclosure
Updated incentives, penalties and enforcement resources in the Bureau of Industry and Security's recently published final rule revising the Export Administration Regulations should help companies decide how to implement export control compliance programs and whether to disclose possible violations, say attorneys at Freshfields.
-
Making Sure Your Co. Isn't In The Next Section 13(f) Sweep
Enforcement actions taken against 11 institutional investment managers for alleged failures to file forms required by Section 13(f) of the Securities Exchange Act serve as a reminder that firms should carefully monitor their obligations to avoid becoming the target of the next enforcement sweep, say attorneys at Ropes & Gray.
-
8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.
-
Opinion
This Election, We Need To Talk About Court Process
In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.
-
Series
Playing Diplomacy Makes Us Better Lawyers
Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.
-
Applying High Court's Domestic Corruption Rulings To FCPA
After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.
-
Mental Health First Aid: A Brief Primer For Attorneys
Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.
-
Series
NY Banking Brief: All The Notable Legal Updates In Q3
In a relatively light few months for banking legal updates in New York, the state Department of Financial Services previewed its views on banking sector artificial intelligence use via insurer guidance, and an anti-money laundering enforcement action underscored the importance of international monitoring processes, say Eric McLaughlin and Dana Bayersdorfer at Davis Polk.
-
Series
Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
-
Del. Dispatch: Cautionary Tales Of 2 Earnout Effort Breaches
The Delaware Court of Chancery's tendency to interpret earnout provisions precisely as written, highlighted in two September rulings that found buyers breached their shareholder obligations when they failed to make reasonable efforts to hit certain product development milestones, demonstrates the paramount importance of precisely wording these agreements, say attorneys at Fried Frank.