Asset Management

  • 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.

  • December 02, 2024

    FDIC Must Face Some Of SVB Ex-Parent's Claims In $1.9B Suit

    A California federal judge has pared down a lawsuit looking to force financial regulators that stepped in after the high-profile collapse of Silicon Valley Bank to return some $1.9 billion in frozen deposits to the bank's former operator as part of a multipronged effort to recover the funds.

  • December 02, 2024

    Trial Date Set In 3-Way Fight Over Historic Ohtani Baseball

    A trial is now scheduled for one of two Florida state lawsuits to decide which of three baseball fans legally owns a home run ball hit by superstar Shohei Ohtani that was later auctioned off for $4.39 million.

  • December 02, 2024

    Citi Splits Off Mexican Retail Bank Ahead Of Planned IPO

    Citigroup said Monday it has completed the expected spinoff of its Mexican retail banking unit called Banamex — part of a strategy to separate its retail and institutional banking businesses in Mexico — paving the way for an initial public offering of Banamex.

  • December 02, 2024

    Funds Get $30M Payout From SEC's Fight With Fugitive Trader

    A Connecticut federal judge has approved a receiver's plan to distribute $30 million to four Oak Management Corp. funds that were among the victims of a former in-house trader who spent a decade defrauding investors and misappropriating $67 million, court records show.

  • December 02, 2024

    PE Firms Swap Calisen Stake At Reported $5B Value

    A majority stake in Calisen Group is changing hands in a private equity-backed deal that is said to value the British smart metering company at more than $5 billion, according to disclosures made Monday. 

  • December 02, 2024

    Shipping Industry Braces For Waves Of New Trump Tariffs

    After a holiday weekend marked by a fresh round of tariff threats from President-elect Donald Trump, the shipping and logistics industry is beginning to feel the heat, warning companies to prepare for massive upheaval if Trump follows through.

  • November 27, 2024

    GM, Cruise Say DPA Has No Bearing On Securities Fraud Suit

    General Motors and its driverless car unit Cruise LLC have told a Michigan federal judge that Cruise's deferred prosecution agreement with the U.S. Department of Justice over a San Francisco pedestrian accident doesn't help investors in a proposed securities fraud class action.

  • November 27, 2024

    Law Profs Tell Del. Justices Moelis Appeal Would Blunt DGCL

    Fourteen law professors have urged Delaware's Supreme Court to reject what they branded as a corporate bar effort to use an appeal from a Chancery Court ruling — potentially mooted for future claims by a new law — in order to "enact a sweeping transformation of the way that Delaware's corporate law gets made."

  • November 27, 2024

    CFPB Fights Student Loan Servicer's Bid To Pause Deal

    The Consumer Financial Protection Bureau has told a Pennsylvania federal court that student loan servicer Pennsylvania Higher Education Assistance Agency shouldn't get to pause its work fulfilling a settlement just because a third party had appealed a separate deal with the loan holders.

  • November 27, 2024

    5th Circ. Reverses Treasury's Block Of Crypto Mixer

    The Fifth Circuit has rejected the government's blacklisting of Tornado Cash for "its role in laundering virtual currency for malicious cyber actors," saying the cryptocurrency service's immutable smart contracts, or lines of privacy-enabling software code, are not "property" and are therefore unownable and cannot be blocked under the International Emergency Economic Powers Act.

  • November 27, 2024

    AME Church, Retirees Ask To Drop Bishops From $90M Suit

    The African Methodist Episcopal Church and employees who alleged the church and its investment providers failed to prevent a rogue employee from embezzling $90 million from their retirement plan asked a Tennessee federal court to dismiss claims against two bishops in the case, citing a settlement reached earlier this year.

Expert Analysis

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

    Author Photo

    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • How To Safely Leverage AI In The Digital Assets Industry

    Author Photo

    Digital asset businesses that use or plan to implement artificial intelligence should assess their risk management frameworks to ensure that AI-related business areas, including customer support and fraud detection, are in compliance with applicable laws and regulatory guidance from the last year, say attorneys at Winston & Strawn.

  • What Trump Presidency May Mean For Climate Reporting

    Author Photo

    While the Trump administration will likely take a hands-off approach to climate-related disclosures and rescind regulations promulgated under the Biden administration, state and international ESG laws mean the private sector may not reverse course on such disclosures, say attorneys at Seyfarth.

  • SEC Action Indicates Continued Focus On ESG Disclosures

    Author Photo

    The U.S. Securities and Exchange Commission's recently settled enforcement action against Invesco Advisers provides a road map for how regulatory agencies will continue to focus on ESG-related disclosures going forward, and underscores a focus on greenwashing, say attorneys at V&E.

  • The Bar Needs More Clarity On The Discovery Objection Rule

    Author Photo

    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • What's Next For The CFTC After The Election

    Author Photo

    While much of the U.S. Commodity Futures Trading Commission's enforcement actions in line with its traditional priorities will continue as usual in the near term, postelection leadership changes at the CFTC and new congressional priorities may alter the commission's regulatory framework in 2025 and beyond — particularly its oversight of crypto, say attorneys at WilmerHale.

  • Series

    Being A Navy Reservist Makes Me A Better Lawyer

    Author Photo

    Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.

  • Cos. Should Inventory Issues To Prep For New Congress

    Author Photo

    As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.

  • OCC Recovery Guidance Can Help Banks Bounce Back Better

    Author Photo

    The Office of the Comptroller of the Currency's recently finalized recovery guidelines add to the constellation of exercises that larger banks must undertake, while also aiding information-gathering and preparedness efforts that can help prevent — or better manage — bank failures, say attorneys at Davis Wright.

  • Navigating DOJ's Patchwork Whistleblower Regime

    Author Photo

    In the past few months, the U.S. Department of Justice and several individual U.S. attorney’s offices have issued different pilot programs aimed at incentivizing individuals to blow the whistle on misconduct, but this piecemeal approach may create confusion and suboptimal outcomes, say attorneys at BakerHostetler.

  • So You Want To Move Your Law Practice To Canada, Eh?

    Author Photo

    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • A Look At Similarities Between SOX And SEC's Cyber Rule

    Author Photo

    Just as the Sarbanes-Oxley Act paved the way for greater transparency and accountability in financial reporting, the SEC's cybersecurity rule is doing much the same for cybersecurity, ensuring that companies are resilient in the face of growing cyber threats, says Padraic O'Reilly at CyberSaint.

  • Class Actions At The Circuit Courts: November Lessons

    Author Photo

    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses six federal court decisions that touch on Rule 23 of the Federal Rules of Civil Procedure, and when individual inquiries are needed to prove economic loss.

  • 5 Areas Congress May Investigate After GOP Election Wins

    Author Photo

    With Republicans poised to take control of Congress in addition to the executive branch next year, private companies can expect an unprecedented uptick in congressional investigations focused on five key areas, including cryptocurrency and healthcare, say attorneys at Cahill Gordon.

  • Trump's 2nd Term May Be A Boost To Banking Industry

    Author Photo

    President-elect Donald Trump's personnel appointments could be instrumental in reshaping the financial regulatory landscape during his second administration, likely allowing for greater merger activity and halting or undoing some of the Biden administration's more restrictive financial services policies, say attorneys at Debevoise.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Asset Management archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!