Asset Management

  • September 30, 2022

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen German software company Topalsson face a breach of contract claim from law firm CMS, Pfizer and BioNTech look for the cure to their patent woes in a claim against Moderna, and Alaska Airlines ready for departure in a commercial contracts claim against Virgin Aviation. Here, Law360 looks at these and other new claims in the U.K.

  • September 30, 2022

    MVP: Debevoise's Andrew Ford

    Andrew Ford played major roles on the Debevoise & Plimpton LLP teams that advised KKR & Co. Inc. as the firm assembled the 13th iteration of its flagship North America private equity fund — a massive $19 billion vehicle — as well as another fund that reached $17 billion, earning him a spot among Law360's 2022 Fund Formation MVPs.

  • September 30, 2022

    Shoe Retailer Strikes Deal To End 401(k) Fee Lawsuit

    A group of ex-workers for a footwear retailer asked a federal judge to greenlight a $330,000 settlement in their suit accusing the company of violating federal benefits law by saddling their 401(k) plan with excessive fees.

  • September 30, 2022

    Justice Ketanji Brown Jackson Takes Bench, Makes History

    Justice Ketanji Brown Jackson received her official commission Friday in a ceremony attended by President Joe Biden and Vice President Kamala Harris, becoming the first Black female justice to take the nation's top bench in its 230-year history.

  • September 29, 2022

    5 Firms Guide $834M Chinese Biopharma SPAC Merger

    Beijing-based biopharmaceutical company Yisheng Biopharma Co. Ltd., announced on Thursday that it will merge with Hong Kong-based blank-check company Summit Healthcare Acquisition Corp. in a transaction that values the new company at $834 million.

  • September 29, 2022

    Barrack Jury Told Of Pro-UAE Push To Influence Trump

    Jurors in the trial of Thomas Barrack on Thursday heard about how the Colony Capital Inc. founder allegedly worked both behind the scenes and in front of the camera during former President Donald Trump's 2016 campaign to advance foreign policy positions favoring the United Arab Emirates and Saudi Arabia.

  • September 29, 2022

    Coinbase's Proprietary Crypto Trading Sank Stock, Suit Says

    A class of Coinbase Global Inc. investors claim in a new suit that the cryptocurrency exchange caused them significant damages by failing to disclose that it had plans to and did engage in proprietary trading of unregistered digital assets.

  • September 29, 2022

    Barclays To Pay $361M Over Unregistered Securities Sales

    Barclays PLC and Barclays Bank PLC have agreed to shell out $200 million in civil penalties and $161 million in disgorgement and prejudgment interest to put to rest U.S. Securities and Exchange Commission allegations that the bank offered and sold an "unprecedented" amount of unregistered securities, the SEC said Thursday.

  • September 29, 2022

    Judge Rules SEC's Suspension Of 2020 Proxy Rules Unlawful

    A Texas federal judge has ruled that the U.S. Securities and Exchange Commission violated the Administrative Procedure Act when it suspended enforcement of Trump-era rules governing proxy advisory firms last year while the agency reconsidered its policies.

  • September 29, 2022

    Treasury Issues Final Beneficial Ownership Reporting Rules

    The U.S. Treasury Department's financial crimes unit issued final regulations Thursday that largely retain the overall framework of proposed guidance that aims to shine a light on shell companies by requiring businesses to report information about so-called beneficial owners.

  • September 29, 2022

    Real Estate Rumors: Alan Roberts Trust, Rastegar, Highwoods

    The Alan Roberts Trust reportedly could fetch $65 million with the sale of a Beverly Hills mansion, Rastegar Property is said to have inked a one-year sublease deal for space in New York, and Highwoods Properties is reportedly in talks to buy a Dallas mixed-use tower.

  • September 29, 2022

    6 Big Banks To Participate In Fed's Climate Scenario 'Pilot'

    The Federal Reserve Board said Thursday that it plans to conduct a trial run of its climate scenario analysis capabilities starting next year with a "pilot exercise" involving six of the biggest U.S. banks.

  • September 29, 2022

    Sens. Grapple With How To Do Outbound Investment Review

    A series of expert witnesses urged lawmakers to support government review on outbound investments at a Senate hearing Thursday, though they encountered skepticism from the Banking Committee's ranking member.

  • September 29, 2022

    House Advances Mental Health Parity, ERISA Arbitration Bill

    House lawmakers passed a mental health policy bill Thursday that would significantly beef up the U.S. Department of Labor's authority to enforce laws requiring employer health plans to ensure parity between coverage for mental health and substance use disorder treatments and traditional medical care. 

  • September 29, 2022

    Nuix Knowingly Misled Investors, Australian Watchdog Says

    The Australian Securities & Investments Commission has launched federal litigation against Nuix that alleges the legal tech firm proffered deceptive statements about the company's financial forecast last year.

  • September 29, 2022

    Brookfield Investing Up To $2B In US Renewable Energy Cos.

    Brookfield Renewable said Thursday it is acquiring Scout Clean Energy and Standard Solar for more than $1.5 billion, and that the investment could ultimately exceed $2 billion as the renewable power investor looks to expand its pipeline of wind, solar and energy storage capabilities in the U.S. 

  • September 29, 2022

    Universal Health Strikes Deal In Sweeping 401(k) Suit

    Universal Health Services Inc. agreed to resolve a 60,000-member class action alleging the company mismanaged employees' 401(k) plan by loading it with expensive and poorly performing investment options, according to filings in Pennsylvania federal court.

  • September 29, 2022

    Deals Rumor Mill: Cineplex, Citi, Apollo

    Canadian theater chain Cineplex has revived efforts to acquire Regal Entertainment Group, Citigroup is curbing lending to asset managers and private equity groups, and banks are struggling to find investors to support a $3.9 billion buyout for Apollo Global Management. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • September 29, 2022

    RI Mortgage Broker Pleads Guilty To Wire Fraud, Tax Evasion

    A mortgage broker who allegedly swindled $14 million from investors pled guilty in Rhode Island federal court to wire fraud and evading taxes by falsifying corporate returns to avoid up to $3.5 million in taxes.

  • September 29, 2022

    Enbridge Buys Texas Renewable Energy Biz In $270M Deal

    Canadian energy infrastructure company Enbridge Inc., guided by Eversheds Sutherland, has purchased American renewable energy company Tri Global Energy LLC for $270 million in cash and assumed debt, the company announced Thursday.

  • September 29, 2022

    SEC Fines Deloitte China Unit $20M Over Audit Rule Violations

    Deloitte's Chinese affiliate will pay a $20 million penalty and undertake "extensive remedial measures" to settle claims it violated U.S. auditing requirements, including by allegedly asking clients to pick their own samples for testing, the U.S. Securities and Exchange Commission said Thursday.

  • September 28, 2022

    Lawsuit Targets Okla. Tribe's Funds Amid Leadership Spat

    An entity purporting to represent the Alabama-Quassarte Tribal Town in Oklahoma said public officials it claimed were ousted from tribal leadership last year are going after some $5 million that belongs to the tribe, urging a federal court to block such transactions and give it control of tribal bank accounts.

  • September 28, 2022

    TIAA Escapes Account Holders' ERISA Suit

    A New York federal judge dismissed a suit claiming the Teachers Insurance Annuity Association of America violated federal benefits law by inducing participants in employer-sponsored retirement plans to transfer assets into higher-fee accounts, finding a proposed class of investors failed to allege TIAA acted as a fiduciary when recommending rollovers.

  • September 28, 2022

    Silicon Valley's Scale Closes $900M Software-Focused Fund

    Early-stage venture capital firm Scale Venture Partners said Wednesday it has closed its latest fund, Fund VIII, with $900 million in committed capital and will be looking to actively invest in cloud and so-called SaaS-focused software companies. 

  • September 28, 2022

    Real Estate Rumors: Jenner & Block, Schwarzman, Pourtavosi

    Jenner & Block is reportedly leasing 5,600 more square feet in Manhattan, Stephen Schwarzman is said to have dropped more than $87 million on an England estate and cannabis entrepreneur Cobby Pourtavosi is said to have picked up a Los Angeles Sheraton for $54.5 million.

Expert Analysis

  • Series

    Keys To A 9-0 High Court Win: Practicality Over Perfection

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    When I argued for the petitioner in Wooden v. U.S. last year, I discovered that preparation is key, but so is the right kind of preparation — in giving decisive answers to the U.S. Supreme Court justices' hypothetical questions I was not aiming for perfection, just the best response available, says Allon Kedem at Arnold & Porter.

  • What New Bar Exam Means For Law Students And Schools

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    Stephanie Acosta at UWorld discusses how law students and law schools can start preparing now for the new bar exam launching in 2026, which is expected to emphasize real-world lawyering skills-based tasks over rote memorization.

  • Apple's New Messaging Features Will Complicate E-Discovery

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    Apple's newest mobile operating system allows users to edit and recall messages and recover deleted messages, which could significantly increase the time, burden and expense of processing and analyzing cellphones if messages or their associated metadata become an area of scrutiny in a case, says Jarrett Coco at Nelson Mullins.

  • Regulatory Changes That May Affect Investments In Wireless

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    A potential acquisition or investment in the wireless space requires a fulsome understanding of the regulatory environment, including a new spectrum strategy under the Biden administration, the potential for more legal challenges to Federal Communications Commission decisions and more, says Laura Stefani at Venable.

  • Meme Stock Buyers Must Heed Bankruptcy Code Provisions

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    As Bed Bath & Beyond faces private securities lawsuits and teeters toward a Chapter 11 filing, it highlights why meme stock buyers must understand Bankruptcy Code provisions such as claim subordination under Section 510(b), and how they may affect recoveries in distressed companies, say Michael Handler and Andrew Michaelson at King & Spalding.

  • Law Firm Inclusion Efforts Often Overlook Business Staff

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    Law firms committed to a culture of universal inclusion can take steps to foster a sense of belonging in their business services teams, says Jennifer Johnson at Calibrate Consulting.

  • SEC Rules Amplify Proxy Contest Threats For Cos.

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    New U.S. Securities and Exchange Commission rules requiring the use of universal proxy cards in director election contests at publicly traded companies, which became effective this month, may open floodgates for special interest groups and shareholder activism efforts, say attorneys at Sidley.

  • What's At Stake In Court Split Over Foreign Bribery Charges

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    Texas and Florida federal courts recently reached opposite conclusions on the extraterritorial application of U.S. money laundering laws in foreign bribery prosecutions, and if the Fifth Circuit upholds the Texas court’s reasoning, the U.S. Department of Justice could lose a significant enforcement tool, say James Koukios and Heather Han at MoFo.

  • An Associate's Guide To Rebounding After A Layoff

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    Law firm associates laid off due to economic conditions can recuperate and move forward by practicing self-care, identifying key skills to leverage during the job search, engaging in self-reflection and more, say Kate Sheikh at Major Lindsey and wellness consultant Jarrett Green.

  • AML Regulation Of Lawyers Is Imminent And Controversial

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    The U.S. House of Representatives' recently passed National Defense Authorization Act subjects lawyers engaged in certain financial-related activities to anti-money laundering regulation under the Bank Secrecy Act, which could pit lawyers against clients in ways harmful to the rule of law and administration of justice, says Jeremy Glicksman at the Nassau County District Attorney’s Office in New York.

  • Overseas Cos. Are Well Within Reach Of SEC Enforcement

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    As suspect payments, false disclosures and trading schemes metastasize and seep across borders, the U.S. Securities and Exchange Commission has become the chief participant in a robust international enforcement network cracking down on individuals and entities based overseas, says Eugene Goldman at McDermott.

  • Biden Order's New Lens Puts Foreign Transactions In Focus

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    President Joe Biden's landmark executive order on national security factors that will be considered by the Committee on Foreign Investment in the United States provides a new perspective for parties addressing questions and concerns on transactions, and reaffirms the role of CFIUS in national security, say attorneys at Simpson Thacher.

  • Ex-Alstom Exec's 2nd FCPA Acquittal Limits Agency Theories

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    The Second Circuit recently upheld the second post-trial acquittal of an ex-Alstom executive on Foreign Corrupt Practices Act bribery charges, imposing a significant evidentiary burden on U.S. regulators arguing agency-based theories of FCPA jurisdiction, say attorneys at Covington.

  • SEC's 'Regulation By Enforcement' Vision Coming Into Focus

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    Remarks by U.S. Securities and Exchange Commission leadership at the recent SEC Speaks conference suggest that the commission's "regulation by enforcement" strategy has important implications for market participants on many different fronts, say attorneys at Perkins Coie.

  • How SEC's Climate Proposal Could Affect Litigation Risk

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    The U.S. Securities and Exchange Commission's proposed rule on climate-related disclosures could increase companies' risk of being targeted by litigation — but there are also a number of legal obstacles that could limit plaintiffs' ability to prove their claims and establish damages, say attorneys at Cleary.

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