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 U.S. Securities and Exchange Commission announced Tuesday that a Nevada-based microcap issuer and the two men controlling it agreed to pay more than $8 million to settle claims that they effectuated a multimillion-dollar fraudulent stock offering for a gold mining operation in Arizona.
Lloyds Bank has led a syndicate of banks that loaned £230 million ($296.3 million) to Global Net Lease Inc. for the real estate investment trust's 43 U.K. properties, according to an announcement on Tuesday from the company, which also announced details of a share sale.
Private equity and energy-focused asset manager Capital Dynamics on Tuesday closed its latest fund after securing $1.2 billion in contributions, with Clifford Chance LLP guiding the Swiss firm as it looks to make an even larger impact in the renewable and clean energy space.
A Florida federal judge handed a victory to Bank of America Corp. Monday in an investment adviser's antitrust suit alleging the bank tied the use of an affiliate to a loan contract, finding the adviser had brought those claims in earlier litigation and that his new suit was filed too late.
A class of Citigroup Inc.-sponsored American depositary receipts holders on Monday asked a New York federal judge for preliminary approval of a $14.75 million settlement with the bank over its alleged manipulation of the foreign exchange rate when providing dividends to ADR holders.