Gary Gensler, President Obama's pick to head the U.S. Commodity Futures Trading Commission, has assured lawmakers of his commitment to regulatory reform and vowed to support new enforcement initiatives if he is confirmed.
Layoffs at law firms are spreading to the partner ranks, as a recent announcement by Clifford Chance LLP shows, indicating that seniority is now taking a back seat to harsh economic realities, even for the biggest fish in the legal pond.
A federal judge has tossed two long-running securities class actions filed on behalf of mutual fund investors against Morgan Stanley that accuse the financial services firm of failing to alert investors to practices that created potential conflicts of interest.
Greenberg Traurig LLP has nabbed nine attorneys from Akin Gump Strauss Hauer & Feld LLP's securities litigation group, including Paul R. Bessette, who joins Greenberg Traurig as a national co-chairman of the firm's securities litigation practice.
An adviser to Europe’s highest court has said French manufacturer Schneider Electric SA should be allowed to recoup some damages after the European Commission mistakenly blocked its 2001 merger with rival Legrand SA, but has recommended that the court lessen the lower court’s previous award.
About a week after Rohm and Haas Co. sued Dow Chemical Co. over its decision to delay closing its $18.8 billion acquisition of the specialty chemical manufacturer, Dow responded Tuesday by reiterating its claims that closing the merger immediately would harm the companies, their employees and shareholders.
Michigan Attorney General Mike Cox is challenging the dismissal of a lawsuit he filed against Blue Cross Blue Shield of Michigan in July that sought to force the nonprofit to divest a for-profit workers' compensation insurance company Cox claims was unlawfully acquired.
Indevus Pharmaceuticals Inc. is facing another proposed shareholder class action seeking to block a merger with Endo Pharmaceuticals Holdings Inc., claiming Endo's $4.50 a share offer undervalues the specialty drug company.
The Trustees of Boston University have hit back at Travelers Property Casualty Co. of America over the insurer's bid to refuse coverage for a $6 million claim over a leaky biowaste removal system at the university's new infectious diseases laboratory because of an exemption for faulty design and workmanship in the project's policy.
Texas-based Haynes and Boone LLP has expanded into California, swallowing intellectual property boutique MacPherson Kwok Chen & Heid LLP's Silicon Valley and Orange County offices.
John DeQ. Briggs, former chairman of Howrey LLP's antitrust practice, has joined Axinn Veltrop & Harkrider LLP, where he will manage the firm's Washington office and serve as co-chair of the antitrust group.
A federal appeals court has upheld the dismissal of a securities case in which the founder of Rent-a-Wreck of America Inc. accused company principals of breaching their fiduciary duty in a series of actions that led to the low-cost car renter's 2006 merger.
Increasing scrutiny by the U.S. Securities and Exchange Commission, the U.S. Department of Justice and shareholders in today’s economic climate and a new era of enforcement require defense attorneys to be knowledgeable in several facets of securities law, according to Seth Aronson, chairman of O’Melveny & Myers LLP’s securities litigation practice.
Companies and investment funds with cash on hand are taking advantage of the current economic climate by participating in more distressed mergers and acquisitions deals, according to Suzzanne Uhland, chair of O’Melveny & Myers LLP’s restructuring practice.
A federal judge has barred the Federal Trade Commission from introducing a variety of exhibits in its bid to block a $1.4 billion merger of CCC Information Services Inc. and Mitchell International Inc., a deal the agency claims would limit competition in the market for systems used to estimate the costs of auto crash repairs.
Lawyers have asked a judge to approve a settlement in a class action accusing former executives and directors of bankrupt health care software company e-MedSoft.com of misleading investors about its alliance with collapsed National Century Financial Enterprises Inc.
Partners of K&L Gates LLP and Bell Boyd & Lloyd LLP voted Friday in favor of a merger that will expand K&L Gates' presence in Chicago and San Diego and boost the firms’ practices in intellectual property, investment management and other key areas.
Anheuser-Busch InBev NV/SA and federal prosecutors are objecting to the efforts of a group of Missouri beer drinkers to intervene in the government's case requiring divestitures in the beer companies' $52 billion merger.
A lawyer for investors who sued Morgan Stanley, Credit Suisse Group and other financial firms, accusing them of rigging initial public offerings during the technology stock boom, has reportedly told a judge that the firms are reneging on a $610 million settlement in the massive class action.
A bankruptcy judge has reportedly blocked Heller Ehrman LLP from buying a $3.5 million, three-year, $20 million tail legal malpractice insurance policy.