The United Kingdom voted on Thursday to pull out of the European Union, a monumental decision that shook markets, Parliament and viewers around the world. Here, attorneys tell Law360 why the decision is significant.
Energy Transfer Equity LP won clearance Friday to abandon its planned merger with The Williams Cos. Inc. after a Delaware vice chancellor ruled that tax counsel Latham & Watkins LLP could not in good faith issue a crucial opinion on the $38 billion deal.
A Massachusetts federal judge on Thursday dismissed a shareholder suit alleging Biogen Inc. misled investors, finding the shareholders couldn't prove Biogen executives intentionally played down the impact of a safety issue with its main drug in rosy growth forecasts.
Morgan Stanley has agreed to pay a $200,000 fine to the Financial Industry Regulatory Authority after it failed to promptly stop a client from kiting checks as part of a Ponzi scheme.
The U.S. Securities and Exchange Commission on Friday sued the head of Texas oil and gas firm Breitling Energy Corp., claiming that he orchestrated a fraud with seven colleagues that scammed investors out of $80 million over a five-year period and spent millions in investor funds on strip clubs and other personal expenses.
Proskauer Rose LLP has again urged a Texas federal judge to toss an investor committee’s allegations that it helped Robert Allen Stanford conceal his $7 billion Ponzi scheme from investigators, saying the Fifth Circuit has barred non-clients from suing over the firm’s representation of Stanford.
The Financial Conduct Authority, Britain’s finance watchdog, said Friday after the U.K. voted to exit the European Union that it is keeping a keen eye out for any potential changes to financial regulation, but that rules derived from EU law will stay intact for now.
Britain’s vote to split from the European Union threatens London’s trailblazer role in developing and regulating the technology behind virtual currencies, widely deemed the new frontier in global finance.
The vote to leave the European Union, announced Friday, could radically change the U.K.'s legal and regulatory ties to the rest of Europe. Among the most affected will be practices focusing on finance, intellectual property, competition, data protection, immigration and international trade.
A Singaporean billionaire who claims Goldman Sachs Group Inc. lured him into exotic currency options trades that lost $34 million urged the Second Circuit on Wednesday to carefully weigh his attempt to bring the claims before the U.S. Commodity Futures Trading Commission.
Lawyers and lawmakers are braced on Friday for uncertainty following the U.K.’s vote to exit the European Union, leaving London to redefine and rewrite its trade and legal ties with the EU, the U.S. and the rest of the world.
The people of Great Britain have put to bed four months of divisive and bitter campaigning and decided that the best course for the U.K. is to leave the European Union. But despite a majority vote, there is an outside chance that this might not be the end of the matter after all.
Now that the monthslong uncertainty surrounding the U.K.’s future as a member of the European Union is over, all eyes in the region will return once more to the waves of reform still sweeping over the EU almost 10 years after the global financial crisis.
The United Kingdom voted to pull out of the European Union, setting the nation on an uncertain path and prompting Prime Minister David Cameron to announce Friday that he will step down by October.
While the U.S. Securities and Exchange Commission secured a massive fine and a rare admission of wrongdoing from Merrill Lynch on Thursday for misusing customer cash, experts said the case shows the agency's metrics for calculating penalties are still opaque and it remains unclear exactly how the agency decides to seek an admission of guilt.
The former members of Congress who wrote the Dodd-Frank Act, along with former Federal Reserve Chairs Ben Bernanke and Paul Volcker, urged the D.C. Circuit on Thursday to undo a federal judge’s recent decision that blocked stronger regulation of MetLife Inc.
The Williams Cos. Inc. contended Thursday that Energy Transfer Equity LP’s bid to avoid a once-$38 billion merger deal could inspire future weaponization of contract closing conditions, and said that Delaware Chancery Court has ample reason to enforce the tie-up despite a tax dispute.
One of the last holdouts in Argentina’s debt crisis agreed on Wednesday to settle its claims against the South American nation for $95 million, garnering a 150 percent recovery on dozens of bond issues that it holds.
A New Jersey stock promoter was sentenced to three-and-a-half years in prison and ordered to pay $1 million for his role in a scheme to pump up the price of stock in an FBI-controlled shell company purporting to sell athletic gear and then unload the stock at artificially high prices.
An in-house judge for the U.S. Securities and Exchange Commission on Thursday said he will wait for the Eleventh Circuit’s official word before reviving the agency’s case against investment firm Gray Financial Group Inc. after that appellate court voided a freeze on the proceeding.
What is most interesting about the U.S. Securities and Exchange Commission enforcement action against Morgan Stanley for cybersecurity lapses is that Morgan Stanley’s conduct was exemplary — the firm did everything right, says John Reed Stark, former internet enforcement chief at the SEC.
While California courts have entertained the notion that an insurer’s conduct during coverage litigation may be considered evidence of bad faith under extremely limited circumstances, they more consistently recognize that an insurer — like any litigant — is entitled to a fair day in court, as illustrated by a California federal court's recent decision in Genesis Insurance v. Magma Design, says Jennifer Williams at Wiley Rein LLP.
When it comes to proxy contests and shareholder activism, one of the most striking changes this year is the quality and tone of the dialogue between companies and their shareholders, says Bruce Goldfarb, founder and CEO of Okapi Partners LLC.
It’s important to first decide what your personal brand is. Are you a crusader? A wry observer? A compassionate witness? Your social media presence doesn’t have to reflect the deepest aspects of your identity — it’s merely an image that you project, says Monica Zent, founder and CEO of Foxwordy Inc.
In order to promote fintech innovation in a broad and effective fashion, it may be necessary for Congress to grant one or more federal financial agencies the express authority to waive a company’s exposure, within bounds, to both private liability and regulatory enforcement, says Gordon Miller, former Federal Reserve Board counsel now with Allen & Overy LLP.
Following a political understanding announced last week, the preparation for a final conflict minerals regulation in the European Union now begins. A small number of companies that are public in the United States may find that they come within the scope of the regulation, even though their business activities are not in scope for purposes of the U.S. conflict minerals rule, say attorneys with Ropes & Gray LLP.
One of the most prevalent complaints by associates and recent law school graduates is the lack of meaningful mentoring by more seasoned attorneys. Gary Gansle, leader of Squire Patton Boggs LLP's Northern California employment law practice, offers several tips as a light that can help junior attorneys start down the right path in their career development.
New legislation recently passed by the Delaware Senate may curb the cost of certain appraisal litigation. However, it does not include certain fundamental changes to the appraisal statute urged by takeover practitioners to limit abusive “appraisal arbitrage,” say attorneys with Paul Hastings LLP.
When the Second Circuit heard oral arguments in Marblegate Asset Management v. Education Management Corp., one might have thought from the courtroom’s overflow crowd that it was the opening argument in a mob trial. But this is a case about a bond indenture, with the Trust Indenture Act at the heart of the debate, say Miranda Schiller and Agustina Berro of Weil Gotshal & Manges LLP.
LeBron James has established his worth by tangible metrics. He cashed in on a free agent bonanza fueled by the NBA’s economic model that supports his regal compensation. But such is not the case when it comes to first-year associate salaries of $180,000 at certain law firms and $2,000 an hour billing rates for certain partners, says Mark A. Cohen, founder of Legal Mosaic LLC.