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.
Bausch Health Cos. Inc. and its brass on Friday sought to shed a securities fraud lawsuit that alleges the company engaged in a price-gouging scheme that cost investors billions, telling a New Jersey federal judge that investors' claims came too late.
A Florida federal judge remanded an alleged $35 million cryptocurrency Ponzi scheme case to state court Monday, saying the lower court where the lawsuit originated has jurisdiction to hear the claims against the perpetrators of the "uncovered securities" enterprise.
Independent directors at mutual fund complexes should consider their fiduciary roles and the underlying reasoning behind recent Mutual Fund Directors Forum guidance suggesting that boards regularly destroy meeting minutes and notes in order to avoid misinterpretation and potential litigation, says Aaron Morris at Barr Law Group.
Investors Bank is reportedly seeking to sell its $48 million loan backed by a Brooklyn building, an Investcorp venture may give a Florida mall back to its lenders, and Omninet Capital has reportedly paid a combined $78 million for two Los Angeles County office complexes.
A real estate investment trust in New York has agreed to drop its lawsuit accusing the Royal Bank of Canada of using the COVID-19 pandemic as an opportunity to illegally seize and sell off the trust's assets at fire-sale prices.