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Asset Management
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August 21, 2025
Cantor Equity Partners IV Begins Trading After $400M IPO
Special purpose acquisition company Cantor Equity Partners IV Inc., sponsored by private equity giant Cantor Fitzgerald, hit the public markets Thursday after pricing its $400 million initial public offering the day prior.
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August 21, 2025
NY Appeals Court Throws Out Trump's $500M Fraud Penalty
A divided New York state appeals court panel on Thursday tossed a nearly $500 million civil fraud penalty against President Donald Trump and his sons, companies and their executives, ruling that the fine was "excessive," but kept in place a judge's finding of liability.
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August 20, 2025
Exec's Friends Made $1M On Insider Trades, SEC Says
The U.S. Securities and Exchange Commission is suing the former head of a Kaman Corp. subsidiary and his friends in New York federal court, accusing him of insider trading ahead of the aircraft component maker's $1.8 billion sale to a private equity firm.
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August 20, 2025
Masimo's 'Empty Voting' Suit Against Founder Gets Green Light
A California federal judge has rejected a bid to dismiss Masimo Corp.'s suit alleging the medical technology company's founder and an investment firm manipulated a shareholder vote through an "empty voting" scheme, finding there is enough evidence at this point to show the pair formed an undisclosed insider group under federal securities laws.
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August 20, 2025
Boeing Eyes Exit From Retooled 737 Max Securities Fraud Suit
Boeing told an Illinois federal judge that equity funds cannot stuff their amended securities fraud lawsuit with vague and overblown allegations the American aerospace giant defrauded investors by downplaying the 737 Max jets' safety flaws after two deadly crashes in 2018 and 2019.
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August 20, 2025
DLA Piper Adds Another Investment Funds Atty From Kirkland
DLA Piper announced another addition to its investment funds practice from Kirkland & Ellis LLP on Tuesday, this time a New York-based partner with a range of multibillion-dollar matters under his belt.
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August 20, 2025
Authentic Brands, Guess Founders Take Biz Private For $1.4B
Luxury apparel company Guess Inc. on Wednesday revealed plans to go private through a sale to a group that includes its founders, CEO and brand platform giant Authentic Brands Group, in a deal that was built by seven law firms and values the clothing company at $1.4 billion, including debt.
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August 19, 2025
PE Firm Hit With Contempt, Receiver In Del. Over Legal Bills
A magistrate in the Delaware Chancery Court has entered an order for contempt and sanctions, as well as a receivership, against private equity firm 777 Partners in its former chief financial officer's suit seeking advancement of legal fees in connection with a fraud investigation and multiple lawsuits related to the company's business.
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August 19, 2025
Inovalon Investor Suit Over $7.3B Nordic Deal Gets Class Cert.
A Delaware chancellor has certified a class of Inovalon Holdings common stockholders who challenged the $7.3 billion go-private sale of the company to Nordic Capital and claimed Inovalon failed to disclose that the investors who bought it paid $400 million in fees to its financial adviser before the transaction.
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August 19, 2025
Texas Co., Exec To Pay $12.4M In Customs Evasion FCA Suit
A Dallas-based countertop and cabinetry product supplier and its president agreed on Tuesday to pay more than $12.4 million to settle a False Claims Act suit alleging they conspired to evade import duties on quartz products from China, with more than $2.1 million designated for a whistleblower.
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August 19, 2025
Detroit Fund Owner Gets 100 Months For $39M Investor Fraud
The former CEO and majority owner of a Detroit-based hedge fund firm was sentenced Monday to 100 months in federal prison for his role in a scheme to obtain more than $39 million from investors by lying about the fund's and investors' individual financial performance.
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August 19, 2025
Sleep Fitness Biz Eight Sleep Raises $100M In VC Funding
Sleep fitness company Eight Sleep on Tuesday revealed it has secured $100 million in new venture funding, a sum it says will help move it toward the goal of "transforming the bed" into an artificial intelligence-powered, sleep optimization and preventative health device.
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August 19, 2025
Linqto Says Ch. 11 Plan Will Have In-Kind Customer Payment
Linqto and its unsecured creditors committee told a Texas bankruptcy judge Tuesday that they have come to an agreement to give customers the chance for in-kind payment in the investment platform's Chapter 11 plan.
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August 18, 2025
Boeing Slams Fund's 737 Max 'Zombie' Fraud Claims
Boeing told an Illinois federal judge that an investment fund has lobbed untimely "zombie" claims seeking to hold the American aerospace giant liable for allegedly misrepresenting the overall safety of the 737 Max 8 after two deadly crashes in 2018 and 2019.
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August 18, 2025
Deutsche Bank, NCUA Net Partial Wins In Crisis-Era RMBS Suit
A New York federal judge has granted partial early wins to both the National Credit Union Administration board and Deutsche Bank in a long-running suit stemming from the 2008 financial crisis and concerning allegations that Deutsche Bank failed to fulfill its duties to certificate holders in several residential mortgage-backed securities trusts.
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August 18, 2025
Catching Up With Delaware's Chancery Court
Executives and board members of Cencora Corp. tentatively settled a stockholder derivative suit for $111.25 million, VectoIQ board members reached a $6.3 million deal on stockholder claims over electric carmaker Nikola's prospects, and class attorneys who secured a $50 million derivative suit settlement saw their proposed 25% attorney fee cut by almost half. Here's the latest from the Delaware Chancery Court.
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August 18, 2025
Mexican Bank Sues Treasury Over Opioid Order Death Knell
Mexico-based bank CIBanco has sued the U.S. Department of the Treasury and its criminal enforcement wing for cutting off its access to the U.S. financial system through an order aimed at combating opioid trafficking, arguing it faces an "imminent demise" if it doesn't get the chance to show the regulator's allegations are false.
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August 18, 2025
Whiteford Taylor Must Face Wire Fraud Malpractice Suit
A Maryland federal judge has declined to toss the majority of a malpractice and gross negligence suit brought by the founder of a construction company who accused his former business partners and their shared counsel of being partially to blame for hackers stealing his $4 million share of proceeds from the sale of their business.
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August 15, 2025
Argentina Can Stay YPF Stake Turnover, 2nd Circ. Says
The Second Circuit on Friday paused a New York federal judge's order requiring Argentina to give up its 51% equity stake in the nationalized oil company YPF SA to partially pay off a $16.1 billion judgment in investor litigation, while the country appeals.
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August 15, 2025
Schwab Defends Antitrust Settlement From Iowa AG Objection
The Charles Schwab Corp. has pushed back on objections raised by the Iowa attorney general and others to an investor class action settlement over its merger with TD Ameritrade, saying its plan to implement an antitrust compliance program, among other things, "offers real value to the class."
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August 15, 2025
Perkins Coie Beats Claims It Aided Client's Alleged $12M Theft
Perkins Coie LLP has defeated an investment company's lawsuit in Illinois state court accusing the firm of helping the plaintiff's onetime investment manager fleece $12 million from company accounts and playing a "critical" role in the theft and cover-up.
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August 15, 2025
Firm Avoids FINRA Fine For Cooperation In Mutual Fund Case
A broker-dealer unit of Georgia-based insurance company Primerica has avoided a fine from the Financial Industry Regulatory Authority by providing what FINRA described as "extraordinary cooperation" in response to a probe of its practices for safeguarding the so-called rights of reinstatement in place for investors in certain mutual funds.
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August 15, 2025
Chancery Says Failed FTX Claim Buy Is Outside Its Jurisdiction
A Delaware Chancery Court judge on Friday ruled that a lawsuit over a failed deal to buy a claim in the Chapter 11 case of cryptocurrency platform FTX does not belong in his court, saying the fact the bankruptcy is being heard in Delaware does not constitute a sufficient connection to the state.
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August 15, 2025
Paragon Tech, Ex-CEO End Legal Fee Dispute In Del.
Holding company Paragon Technologies Inc. and its ousted CEO have ended a legal fees dispute in Delaware Chancery Court, ending a chapter of a power struggle at the top of the company following allegations of misconduct.
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August 15, 2025
Taxation With Representation: Wachtell, Cooley, Sullivan
In this week's Taxation With Representation, the NBA signs off on the sale of the Boston Celtics, Gildan Activewear acquires HanesBrands, private equity shop Advent International buys insurance software firm Sapiens, and financial software provider MeridianLink goes private via its acquisition by Centerbridge Partners.
Expert Analysis
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The Fund Finance Market Is In Its Transformative Era
The fund finance market is experiencing explosive growth as it develops into a mature and sophisticated industry, with several recent developments – such as an increase in net asset value lending and a shift toward borrower-friendly terms – reshaping the landscape of this rapidly evolving sector, say attorneys at Fried Frank.
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Opinion
SEC Shouldn't Complicate Broker-Dealers' AML Compliance
Recent U.S. Securities and Exchange Commission anti-money laundering enforcement actions show that regulators should not second-guess broker-dealers' reasonable judgment, or stretch the law or their jurisdiction to regulate through enforcement, lest they expect broker-dealers to vigorously defend their AML programs, say attorneys at WilmerHale.
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State Securities Enforcers May Fill A Federal Enforcement Gap
The U.S. Securities and Exchange Commission appears poised to take a lighter touch under the new administration, but state enforcement efforts are likely to continue unabated, and potentially even increase, particularly with regard to digital assets and ESG disclosures, say attorneys at Ropes & Gray.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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What Rodney Hood's OCC Stint Could Mean For Banking
Acting Comptroller of the Currency Rodney Hood's time at the helm of the OCC, while temporary, is likely to feature clarity for financial institutions navigating regulations, the development of fintech innovation, and clearer expectations for counsel advising on related matters, say attorneys at Vedder Price.
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Opinion
We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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4 Actions For Cos. As SEC Rebrands Cyber Enforcement Units
As the U.S. Securities and Exchange Commission signals its changing enforcement priorities by retooling a Biden-era crypto-asset and cybersecurity enforcement unit into a task force against artificial-intelligence-powered hacks and online investing fraud, financial institutions and technology companies should adapt by considering four key points, say attorneys at Troutman.
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New SEC Guidance May Change How Investors, Cos. Talk
The U.S. Securities and Exchange Commission's recent updates to the Schedules 13D and G compliance and disclosure interpretations may mean large institutional investors substantially curtail the feedback they provide companies about their voting intentions in connection with shareholder meetings, which could result in negative voting outcomes for companies, say attorneys at Cleary.
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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How 2025 Is Shaping The Future Of Bank Mergers So Far
Whether the long-anticipated great wave of consolidation in the U.S. banking industry will finally arrive in 2025 remains to be seen, but the conditions for bank mergers are more favorable now than they have been in years, say attorneys at Skadden.
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Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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During Financial Regulatory Uncertainty, Slow Down And Wait
Amid the upheaval at the Consumer Financial Protection Bureau and the slowdown in activity at the prudential agencies, banks must exercise patience before adopting strategic and tactical plans, as well as closely monitor legal and regulatory developments concerning all the federal financial regulators, say attorneys at Dorsey.
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Opinion
It's Time To Fix The SEC's Pay-To-Play Rule
Nearly 15 years after its adoption, the U.S. Securities and Exchange Commission's pay-to-play rule is not working as intended — a notion recently echoed by SEC Commissioner Hester Peirce — and the commission should reconsider the strict liability standard, raise the campaign contribution limits and remove the look-back provision, say attorneys at WilmerHale.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.