Asset Management Law360 provides breaking legal news and analysis on the asset management industry. Coverage includes litigation, policy developments, and corporate deals involving investment firms, mutual funds, hedge funds, bond funds, pension funds, and real estate investment trusts.
The Bank of NY Mellon Corp. on Friday slammed a proposed class of trust beneficiaries’ bid for class certification in their suit accusing the bank of irresponsible investing and unauthorized tax preparation fees, claiming that lead counsel’s “irreconcilably broken” relationship with one of lead plaintiffs renders her an inadequate class representative.
Deutsche Bank has told a New York federal judge that a class of plan participants improperly attempted to rebut earlier arguments and exclude certain pieces of evidence on the eve of a July trial over their Employee Retirement Income Security Act claims that the bank wrongly invested their retirement savings in proprietary funds.
Morguard Management has reportedly bought 125 Florida condos for $19 million, real estate investment trust Starwood Property is said to have loaned $213 million for a Los Angeles project that includes hotel and retail components, and Aetna has reportedly leased 85,000 square feet in Florida.
The U.S. Trustee for bankrupt Nine West Holdings Inc.Thursday asked a New York bankruptcy court to turn down its request to appoint an interim CEO from the company’s restructuring firm, saying the man is disqualified by his prior Nine West ties.
The U.S. Supreme Court’s finding that U.S. Securities and Exchange Commission administrative law judges need to be appointed by the president or the head of the agency potentially leaves the judges open to heightened political influence, legal experts said Friday.