Asset Management

  • December 05, 2024

    Chinese Bank Faces New Suit Alleging Reinsurance Fraud

    Another group of insurers has accused one of China's largest banks of participating in a "multi-billion-dollar fraud" in the reinsurance market, telling a New York federal court Thursday that the bank, including its New York branch, has refused to honor over $890 million worth of letters of credit.

  • December 05, 2024

    FTX Clawback Deal With Ex-Alameda Co-CEO Gets Court Nod

    A Delaware bankruptcy judge has approved a deal to settle clawback claims by FTX against former Alameda Research Ltd. executive John Samuel Trabucco, who agreed to hand over two San Francisco apartments purchased in 2021 for $8.7 million and a 53-foot yacht bought in 2022 for $2.5 million.

  • December 05, 2024

    Jones Day Reps CNX On $505M Deal For Natural Gas Biz

    CNX Resources Corp. said Thursday it has agreed to acquire for about $505 million the natural gas upstream and associated midstream business of Apex Energy II LLC, a portfolio company of funds managed by Carnelian Energy Capital Management LP.

  • December 05, 2024

    SpaceX Seeks Astronomical $350B Value, And More Rumors

    SpaceX is in discussions for a transaction that could value the rocket and spacecraft maker at about $350 billion, the private equity owner of Crunch Fitness could sell the health club at a $1.5 billion value, and the management group looking to buy the Japanese owner of 7-Eleven may launch an IPO. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • December 05, 2024

    IQVIA Gets Final OK For $3.5M Deal In Ex-Workers' 401(k) Suit

    A North Carolina federal judge on Thursday gave his final seal of approval to a $3.5 million settlement for a class of 9,000 employees who accused healthcare technology company IQVIA of mismanaging its $1.13 billion 401(k) plan.

  • December 05, 2024

    Battery Recycling Firm To Go Public Via $250M SPAC Merger

    Renewable energy-focused Ace Green Recycling Inc. has agreed to go public by merging with special purpose acquisition company Athena Technology Acquisition Corp. II in a deal that values Ace Green's equity at $250 million, both parties have announced.

  • December 04, 2024

    Target Can't Escape Investors' Pride Month Merch Suit

    Target Corp. cannot escape claims alleging customer backlash over its 2023 LGBTQ-focused marketing campaign caused the retail giant's sales and stock price to decline, a Florida federal judge ruled Wednesday, finding that the investors have plausibly pled Target made misleading warnings about the risk of customer boycotts.

  • December 04, 2024

    'Side Deal' Unlikely To Ax Fees In $10M Morgan Stanley Deal

    A California federal judge said Wednesday he isn't inclined to strip counsel who negotiated Morgan Stanley's $10 million deal with its financial advisers of their fees over an abandoned "side deal" between the company and the lead plaintiff, saying it should have been disclosed but didn't impact the deal's fairness.

  • December 04, 2024

    Fla. Ex-Rep Sues Associate Connected To Foreign Agent Case

    A former Florida congressman has sued an associate in Miami-Dade County over a breach of contract, alleging that he disclosed a confidential legal memorandum to law enforcement officials and others in connection to a federal indictment charging the ex-lawmaker with unlawfully lobbying on behalf of Venezuela.

  • December 04, 2024

    Debt Relief Co. Agrees To Be Banned Under CFPB Settlement

    The Consumer Financial Protection Bureau informed a California federal court that a purported debt relief services company and its owner have agreed to cease operations and pay civil penalties for allegedly charging customers illegal upfront fees.

  • December 04, 2024

    CFTC Hits $17.1B Enforcement Record With FTX-Linked Deals

    The Commodity Futures Trading Commission secured a record annual enforcement haul of more than $17.1 billion in fiscal year 2024, including a historic $12.7 billion judgment against failed crypto exchange FTX and its affiliated trading firm Alameda Research, the agency announced Wednesday.

  • December 04, 2024

    5th Circ. Probes $8M Payout For Allegedly Undelivered Services

    An investment company on Wednesday found itself before the Fifth Circuit having to justify paying $7.7 million for allegedly undelivered services from an affiliate, as it appeals a $2.6 million bill it got hit with for prematurely ending a contract.

  • December 04, 2024

    Uber Investors' Attys Awarded $58M In $200M IPO Suit Deal

    A California federal judge granted final approval Wednesday to Uber's $200 million deal settling class claims from investors accusing it of making false and misleading statements ahead of its initial public offering, and also awarded $58 million for attorney fees that he called quite "substantial" but "warranted."

  • December 04, 2024

    Wells Fargo Wants Suits Over $300M Scheme Tossed

    Wells Fargo Bank NA urged a Florida federal judge on Wednesday to toss both a proposed class action and a receiver's lawsuit claiming the bank aided and abetted a $300 million Ponzi scheme that duped more than 1,000 investors, arguing that neither pleading sufficiently shows that Wells Fargo knew about the fraud.

  • December 04, 2024

    'Patriotic' Marketplace PublicSquare Raises $36M Stock Sale

    The money-losing owner of self-described patriotic marketplace PublicSquare bolstered its balance sheet Wednesday through a $36 million registered direct offering guided by two law firms, one day after it named Donald Trump Jr. to its board of directors.

  • December 04, 2024

    Crypto Groups Hail Trump's SEC Pick Paul Atkins

    President-elect Donald Trump on Wednesday said he will nominate former U.S. Securities and Exchange Commission member Paul Atkins to lead the agency next year, a decision that cryptocurrency advocates praised as opening a path for greater acceptance of an industry that has faced a slew of lawsuits under the current SEC.

  • December 04, 2024

    Calif. Trading Instructor Gets Prison For $2M Investment Fraud

    A North Carolina federal judge sentenced a California man extradited from Australia to face charges over a $2 million investment fraud scheme he orchestrated to 70 months in prison and ordered him to pay $1.9 million in restitution, federal prosecutors in the Tar Heel State announced.

  • December 04, 2024

    Paul Weiss-Led PE Firm's SPAC Bids £836M For E-Training Biz

    Investor General Atlantic said Wednesday that a company it manages has agreed to buy Learning Technologies Group PLC, a workplace training provider, for a total of £836 million ($1.1 billion) as the U.S. business looks to expand in the growing sector.

  • December 03, 2024

    Top Ex-SEC Officials Warn Of Enforcement Upheaval

    Former top U.S. Securities and Exchange Commission officials on Tuesday predicted a sea change in the agency's enforcement approach in the coming second administration of President-elect Donald Trump, with a lighter touch for corporate wrongdoers and a whole new ballgame with respect to cryptocurrency.

  • December 03, 2024

    Crypto Co. Hut 8 Wants Out Of Merger Disclosure Investor Suit

    Crypto mining company Hut 8 moved to dismiss a proposed shareholder class action that is based on the claims of a short-seller's report that Hut 8 overpaid for a company with severe operational issues, saying the suit does not show the alleged misrepresentations were false or misleading when made or that investors were actually harmed.

  • December 03, 2024

    4 Mass. State Court Rulings You May Have Missed In Nov.

    An age discrimination case was undone by the fine print of an employment agreement, while an "utterly inadequate" document search led to a five-figure sanctions order, among other notable recent decisions in Massachusetts state court.

  • December 03, 2024

    Fla.'s 'Mother Teresa' Gets 20 Years For Ponzi Scheme

    A Florida federal judge on Tuesday accused the U.S. attorney's office of "abdicating its responsibility" by agreeing to a maximum of 20 years in prison for Johanna Garcia, the former MJ Capital CEO known as "Mother Teresa" who pled guilty to running a $190 million Ponzi scheme.

  • December 03, 2024

    Feds Urge Justices To Revive Cornell Workers' ERISA Fight

    The federal government urged the U.S. Supreme Court to reverse dismissal of a proposed class action alleging Cornell University mismanaged employees' retirement plans, backing Cornell workers' argument that the Second Circuit misapplied the standard for pleading a prohibited transaction claim when it upheld an end to the case.

  • December 03, 2024

    Skadden, Clifford Chance Guide BlackRock On $12B HPS Buy

    BlackRock said Tuesday it has agreed to buy HPS Investment Partners for approximately $12 billion, in a deal that will align HPS' nearly $150 billion global credit portfolio with BlackRock's $3 trillion public fixed income business.

  • December 03, 2024

    UK Watchdog Probes BlackRock Deal For Data Co. Preqin

    The U.K.'s competition regulator said on Tuesday it is delving into whether private equity giant BlackRock Inc.'s proposed £2.55 billion ($3.2 billion) acquisition of private markets data provider Preqin would harm competition in U.K. markets.

Expert Analysis

  • 9 Liability Management Tips As Debt Maturity Cliff Looms

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    As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • 5 Ways Life Sciences Cos. Can Manage Insider Trading Risk

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    In light of two high-profile insider trading jury decisions against life sciences executives this year, public companies in the sector should revise their policies to account for regulators' new and more expansive theories of liability, says Amy Walsh at Orrick.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

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    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

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    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

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    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • Banking Compliance Takeaways From Joint Agency Statement

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    Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.

  • 6 Considerations To Determine If A Cyber Incident Is Material

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    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

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