Asset Management

  • November 22, 2017

    Arent Fox Still Can't Get Access To Docs In Malpractice Suit

    A New York federal judge said Tuesday he sees no problem with a magistrate judge’s recommendation denying Arent Fox LLP access to communications between a former client suing the firm for malpractice and that client’s other attorneys.

  • November 22, 2017

    Ropes & Gray Taps PE Leader As Chicago Office Head

    Ropes & Gray LLP has chosen Neill Jakobe, a co-leader of its private equity industry group, as the new managing partner for its Chicago office, the firm announced Tuesday.

  • November 22, 2017

    Shkreli Deal Legit, Investor Says Ex-Katten Atty Told Him

    A former commodities trader and investor in one of Martin Shkreli's hedge funds and pharmaceutical company Retrophin Inc. told jurors Wednesday of how former Katten Muchin attorney Evan Greebel assured him that an allegedly sham deal to pay him off for his investment was aboveboard.

  • November 22, 2017

    SPACs Grabbing Bigger Share Of IPO Market

    Initial public offerings by special purpose acquisition companies are growing at their most robust clip since before the financial crisis, giving more visibility to a once remote corner of the IPO market.

  • November 22, 2017

    CFTC Sees Steep Drop In Enforcement Actions In 2017

    The U.S. Commodity Futures Trading Commission on Wednesday announced that it had imposed nearly $413 million in sanctions in fiscal 2017, less than half of the penalties issued in the previous fiscal year and the lowest since 2011.

  • November 22, 2017

    Hunton Moves To Toss $34M Stanford Deal Objections

    Hunton & Williams LLP asked a Texas federal judge Tuesday to reject the objections that have been raised to its $34 million deal to settle allegations that it aided Robert Allen Stanford’s $7 billion Ponzi scheme, saying the settlement is fair and won’t impact the rights of other parties embroiled in litigation over the scheme.

  • November 22, 2017

    Finance Group Slams Proposed $12B CFPB Student Loan Deal

    A national structured finance trade group attacked a proposed Consumer Financial Protection Bureau lawsuit settlement with owners of $12 billion in securitized student loans late Tuesday, saying the federal court deal in Delaware could destabilize the industry and economy.

  • November 22, 2017

    ChinaCast Reaches Deal To Advance Ch. 11 Plan Confirmation

    ChinaCast Education Corp. and a private equity firm sitting on a $66 million judgment against the defunct company asked a New York bankruptcy court Tuesday for a second chance at approval of a settlement, which would see them team up to pursue $30 million worth of the debtor’s insurance policies.

  • November 22, 2017

    SEC Whistleblower Program Ain't Broke — So Don't 'Fix' It

    The U.S. Securities and Exchange Commission’s whistleblower program, now entering its seventh year, is maturing and gaining momentum, according to an agency report released Nov. 17, and whistleblower attorneys say they hope the Trump administration recognizes its value by staying out of the SEC’s way.

  • November 21, 2017

    SEC Sues Long Island Town, Ex-Official For Securities Fraud

    The U.S. Securities and Exchange Commission on Tuesday hit the Long Island town of Oyster Bay and its former top elected official with a securities fraud suit alleging that they concealed from investors the town’s indirect guarantees of more than $20 million in private loans to a local businessman who ran concessions and restaurants at town facilities.

  • November 21, 2017

    Texas Man Gets 4 Years For $6.4M Diamond Fraud Scheme

    A Texas federal judge on Tuesday ordered a Dallas businessman to forfeit about $3.79 million together with two co-conspirators in a diamond investment fraud scheme, also sentencing him to nearly four years in prison and two years of supervised release.

  • November 21, 2017

    Ex-Galleon Trader Says He Didn't Report Shkreli To Feds

    A former Galleon Group trader turned Deutsche Bank project manager on Tuesday told jurors that he never reached out to federal prosecutors about his suspicions that Martin Shkreli was engaged in a market manipulation scheme with Retrophin Inc. stock despite having dropped the dime on his old boss at Galleon.

  • November 21, 2017

    Puerto Rico Board Says Bond Insurer Can't Fight Fiscal Plan

    The federal board charged with guiding Puerto Rico through its watershed debt restructuring reasserted Tuesday that it must remain unfettered from bondholder litigation to certify fiscal budgeting plans for the territory and ultimately come up with debt readjustment proposals, tamping down complaints of alleged constitutional violations.

  • November 21, 2017

    DreamWorks HQ Trades Hands In $290M Deal

    A real estate investment trust sponsored by asset manager Griffin Capital Co. LLC will sell the Glendale, California, home of DreamWorks Animation for $290 million, the company said Tuesday, in a deal that will see a subsidiary of South Korean firm Hana Asset Management Co. Ltd. take over the property.

  • November 21, 2017

    6D Global Settles Suit Over PE CEO's Stock Scheming

    Digital marketing company 6D Global Technologies Inc. will implement new training programs to settle claims that it failed to stop a private equity firm's CEO from manipulating its share price, the company and shareholders have told a New York federal judge.

  • November 21, 2017

    Subpoenas 'Out The Door' In National Events Ponzi Probes

    Two parallel investigations into the $70 million National Events Ponzi scheme are humming along, as a New York bankruptcy court on Tuesday approved several motions that will tie up loose ends while the defunct ticket reseller waits on responses to a flurry of recently issued subpoenas.

  • November 21, 2017

    AIG Unit Needn't Cover $17M Ponzi Loss, 5th Circ. Affirms

    An American International Group Inc. unit doesn't have to cover Cooper Industries Ltd.'s $17 million loss to a Ponzi scheme, the Fifth Circuit affirmed on Monday, agreeing with a lower court that the electrical products manufacturer didn't own the money for coverage purposes because it invested in the scheme via loans.

  • November 20, 2017

    21st Century Fox Pens $90M Investor Deal Over Scandals

    Twenty-First Century Fox Inc. has reached a $90 million deal to settle derivative claims stemming from a series of workplace harassment incidents at Fox News, according to an agreement filed Monday in Delaware state court that also requires the media outlet to create a new advisory council on improving workplace culture.

  • November 20, 2017

    Ex-Galleon Trader Details Shkreli Vendetta At Ex-Katten Atty Trial

    A Deutsche Bank project manager and former Galleon Group trader on Monday told the jury weighing the fate of Martin Shkreli’s former Katten Muchin attorney of how the now-incarcerated former pharmaceutical executive harassed his family over a stock ownership dispute, but came under fire on cross-examination over a trade he made on inside information while at Galleon.

  • November 20, 2017

    RMBS Trustees Open Court Fight For $11.4B Lehman Claim

    Bankruptcy court scrutiny of Lehman Brothers’ sale of residential mortgage-backed securities in the years preceding the 2008 financial crisis got underway Monday as counsel for several RMBS trusts argued that the shuttered investment bank is responsible for $11.4 billion in damages for securitizing misrepresented loans.

Expert Analysis

  • Roundup

    Judging A Book

    Alexander Hamilton and the Development of American Law

    Are the latest books on the judicial system worth reading? Federal judges share their thoughts in this series of book reviews.

  • Don't Waste This Planning Cycle: Year-End Strategies

    Hugh A. Simons

    Law firms are businesses where partners operate with significant autonomy. To see their priorities translate into individual partner action, firm leaders should use a few collaborative strategies, suggests Hugh A. Simons, former senior partner of The Boston Consulting Group and former COO of Ropes & Gray LLP.

  • 4th Circ. Bypasses Review Standards In Top-Hat Plan Suit

    Marianna Jasiukaitis

    In Plotnick v. Computer Sciences, the Fourth Circuit recently addressed the circuit split over the standard of review applicable to plans providing benefits for highly paid executives, but ultimately found that distinguishing between competing standards of review was unnecessary, says Marianna Jasiukaitis of Funk & Bolton PA.

  • Financial Crisis Anniversary

    10 Years After Crisis, What We Still Need To Do

    H. Rodgin Cohen

    We can all sleep easier at night because financial reforms have produced a considerably strengthened banking system. This desirable state, however, should not lead to somnambulism. We must still attend to at least four areas of concern, say Rodgin Cohen and Mitch Eitel of Sullivan & Cromwell LLP.

  • From Snaps To Tweets: The Craft Of Social Media Discovery

    Matthew Hamilton

    Courts have consistently held that social media accounts are subject to established discovery principles but are reluctant to allow parties to rummage through private social media accounts. Recent case law confirms that narrowly tailored information requests get the best results, say Matthew Hamilton, Donna Fisher and Jessica Bae of Pepper Hamilton LLP.

  • An Interview With Former DHS Secretary Jeh Johnson

    Randy Maniloff

    Jeh Johnson, the former secretary of homeland security, was kind enough to let me visit him to reflect on his diverse career. He told stories that left me speechless. And yes, the man who was responsible for the Transportation Security Administration removed his shoes when going through airport security. You bet I asked, says Randy Maniloff of White and Williams LLP.

  • Hurdles To Consider When Securing A Personnel File

    Michael Errera

    Attorneys should follow seven key points to ensure that their discovery requests and pleadings are appropriately prepared to overcome common hurdles that may be encountered when requesting production of a personnel file, say Michael Errera and Paul Ferland of Foran Glennon Palandech Ponzi & Rudloff PC.

  • Series

    Judging A Book: Gilstrap Reviews 'Alexander Hamilton'

    Judge Rodney Gilstrap

    While Alexander Hamilton is the subject of a hit Broadway musical and renewed biographical examinations, professor Kate Brown takes us down a road less traveled in her book "Alexander Hamilton and the Development of American Law" — showing Hamilton as first, last and foremost an American lawyer, says U.S. District Judge Rodney Gilstrap of the Eastern District of Texas.

  • The Case For Creating A Mediation Department At Your Firm

    Dennis Klein

    There are at least four reasons supporting the need for some form of a mediation group within a law firm, especially in firms with larger practices, according to Dennis Klein, owner of Critical Matter Mediation and former litigation partner at Hughes Hubbard & Reed LLP.

  • Financial Crisis Anniversary

    Dodd-Frank And Deregulation: Some Lessons From History

    Dennis Kelleher.jpg

    The Dodd-Frank Act, while imperfect, addressed what actually did cause the financial crisis: unreasonable risk-taking, low capital and high leverage, shadow banking, and much more. The evidence is overwhelming that financial reform is working, that the risk of a crash in the U.S. is greatly reduced, and that banks are highly profitable, says Dennis Kelleher, president of Better Markets Inc.