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.
Six current and former Columbia University executives escaped allegations they breached their fiduciary duties to the school's retirement plan Friday, when a New York federal judge signed off on the proposed class of participants’ agreement to drop the claims.
An electric car company co-founded by former Virginia Gov. Terry McAuliffe asked a Virginia bankruptcy court for permission to name a Chinese investment firm as the $50 million stalking horse bidder for its assets.
An Oklahoma couple claim they lost $335,000, which they invested in the alleged Ponzi scheme run by now-bankrupt Woodbridge Group LLC just before the company collapsed, on the word of an unlicensed investment adviser working for their accounting firm.
Guidance released Friday by the U.S. Department of the Treasury on the deferral of taxable gains under the opportunity zone program leaves potential avenues for abuse by investors, who may be able to take advantage of uncertainty over the treatment of vacant lots, as one example.
A putative class of beneficiaries of Chevron's employee retirement plan asked the Ninth Circuit on Friday to revive their claims the company breached its fiduciary duties when it made high-cost and poor-performing investments, saying they had plausibly alleged that Chevron's money management process was flawed.