Asset Management

  • February 22, 2017

    PTAB Upholds Pozen Patent In Kyle Bass Challenge

    The Patent Trial and Appeal Board on Tuesday upheld the validity of a patent on Pozen Inc.’s arthritis and ulcer drug Vimovo in an inter partes review requested by the Coalition for Affordable Drugs, an organization started by hedge fund manager Kyle Bass.

  • February 22, 2017

    Ashford Lobs $1.3B Bid At Fellow REIT, Readies Proxy Contest

    Ashford Hospitality Trust took its $1.27 billion takeover bid for fellow real estate investment trust FelCor hostile on Tuesday, blasting the REIT’s board for allegedly engaging only half-heartedly in discussions and laying the groundwork for a proxy fight.

  • February 22, 2017

    SEC Sues Fugitive Over $1.7M Forex Ponzi Scheme

    The U.S. Securities and Exchange Commission has accused a runaway man of defrauding investors out of $1.7 million by promising that his computer program would generate high returns on foreign exchange trades, despite using the investments to make Ponzi-like payments and fund exorbitant shopping sprees, according to a Tuesday statement.

  • February 22, 2017

    Killam Apartment REIT To Raise $53M Through Share Sale

    Killam Apartment REIT is selling roughly CA$70 million ($53 million) worth of trust units, in a matter that RBC Capital Markets is working on as lead underwriter, according to an announcement on Tuesday from the Halifax, Nova Scotia-based real estate investment trust.

  • February 22, 2017

    First Potomac Sells 2 D.C.-Area Properties For $89M

    First Potomac Realty Trust has sold a pair of Washington, D.C.-area properties for $88.7 million, according to an announcement on Tuesday from the Bethesda, Maryland-based real estate investment trust.

  • February 22, 2017

    REIT GEO Group Inks $360M Deal For Prison Rehab Provider

    GEO Group Inc., a real estate investment trust focused on correction and detention centers, said Wednesday that it has agreed to buy New Jersey-based Community Education Centers in a $360 million deal guided by Akerman LLP, picking up 12,000 owned or managed beds.

  • February 21, 2017

    Split DC Circ. Nixes Fannie, Freddie 'Profit Sweep' Suits

    A divided D.C. Circuit panel on Tuesday handed the U.S. Department of the Treasury and Federal Housing Finance Agency a victory over allegations they swept profits from Fannie Mae and Freddie Mac to the Treasury, affirming a lower court’s ruling that actions taken under the FHFA's conservatorship of the mortgage duo can't be challenged in court.

  • February 21, 2017

    Mitsui To Spend Up To $550M To Enter US Real Estate Market

    Japanese conglomerate Mitsui & Co. Ltd. said Monday that it plans to enter the U.S. real estate asset management business through a partnership with CIM Group LLC that includes an investment of between $450 million and $550 million in the U.S. company and related funds.

  • February 21, 2017

    Kan. Stock Promoter Says 10th Circ. Order Blocks SEC Case

    A stock promoter filed a lawsuit in Kansas federal court on Tuesday seeking to halt a U.S. Securities and Exchange Commission administrative proceeding against him, saying the judge overseeing his case has already been deemed to violate the U.S. Constitution by the Tenth Circuit.

  • February 21, 2017

    Shkreli, Ex-Katten Atty Seek To Split Criminal Cases

    Former Turing Pharmaceuticals Inc. CEO Martin Shkreli and his former Katten Muchin Rosenman LLP attorney have filed motions to sever their criminal securities fraud cases, saying their defenses will be at odds as Shkreli claims he relied on counsel while the attorney says he was kept in the dark.

  • February 21, 2017

    Swedish Pension Fund Unloads $2.1B In Assets

    Swedish pension fund manager Alecta has completed the sale of nearly 50 real estate assets in the U.S. and U.K. in a pair of deals worth $2.1 billion, according to a statement from JLL on Tuesday, which arranged the sales and acquisition financing.

  • February 17, 2017

    DOL Notches Win Against Insurer's Fiduciary Rule Challenge

    A Kansas federal judge on Friday sided with the U.S. Department of Labor in upholding a new fiduciary rule for retirement account advisers related to fixed indexed annuity sales, finding the agency did not exceed its authority in ushering it in.

  • February 17, 2017

    Ex-JPMorgan Banker Gets 3 Years For Leaking Tips To Dad

    A former investment banker for JPMorgan Chase & Co. and Perella Weinberg Partners convicted of insider trading after he was accused of leaking confidential information about health care company mergers to his father was sentenced to three years in prison on Friday.

  • February 17, 2017

    LA's Mark Geragos Preps NY Pension Whiz For $2B Bribe Trial

    Celebrity lawyer Mark Geragos parachuted into Manhattan federal court Friday to defend former New York pension strategist Navnoor Kang against charges that he took bribes to steer $2 billion of investment dollars toward a former Sterne Agee managing director, as U.S. District Judge J. Paul Oetken set a December trial date.

  • February 17, 2017

    Taxation With Representation: Weil, Skadden, Kirkland

    In this week’s Taxation With Representation, Japanese telecommunications giant SoftBank Group acquires a private equity firm for $3.3 billion in cash, Hologic buys medical aesthetics company Cynosure for $1.65 billion, and a Texas oil and gas company purchases new assets in North Louisiana for $465 million.

  • February 17, 2017

    Texas Justices Won't Review Morgan Keegan Securities Suit

    The Texas Supreme Court on Friday said it would not review wealth management and capital markets firm Morgan Keegan’s argument it was wrongly held liable for not telling investors the true risks of a mortgage-backed securities stake, leaving intact a $2.1 million judgment.

  • February 17, 2017

    $3.9M Ends SEC's Stanford Ponzi Claims Against Ex-Exec

    A former executive at one of Ponzi schemer R. Allen Stanford’s financial firms has agreed to pay the U.S. Securities and Exchange Commission nearly $3.9 million to settle claims related to his role in the fraud, according to a Friday decision by the regulator.

  • February 17, 2017

    Full Fed. Circ. Urged To Rethink Trading Patents' Alice Validity

    CQG asked the full Federal Circuit on Friday to review a panel finding that electronic trading patents the software maker was ordered to pay $16 million in infringement damages for are valid under Alice, saying the panel rewrote the law on patent eligibility.

  • February 16, 2017

    NYU Asks Judge To Toss ERISA Suits Over Retirement Plan

    New York University on Wednesday asked a federal judge in New York to throw out a proposed class action alleging it breached a fiduciary duty to employees in its retirement plan, saying the employees had never alleged a conflict of interest that could lead to a claim the university breached its loyalty to the plan.

  • February 16, 2017

    Commerzbank Tells Judge Not To Toss Wells Fargo RMBS Suit

    Commerzbank AG on Thursday urged a New York federal judge not to toss its suit alleging that Wells Fargo Bank NA failed to protect it from massive residential mortgage-backed securities losses, saying a ruling in a similar suit against Deutsche Bank National Trust Co. supports such an outcome. 

Expert Analysis

  • Saving Lawyers 1 Less Drink At A Time

    Jennifer Gibbs

    Lawyers are likely turning to alcohol to lessen stress and anxiety, to socialize, and even to sleep better. Unfortunately, many are unaware that their nightly pour could be causing or exacerbating the anxiety that is plaguing the legal profession, says Jennifer Gibbs of Zelle LLP.

  • Plan Sponsors, Approach Target-Date Funds With Caution

    Emily Seymour Costin

    A recent U.S. Department of Labor information letter concluded that certain portfolios did not meet requirements to be a qualified default investment alternative under the Employee Retirement Income Security Act, emphasizing the DOL’s support for broadening the use of lifetime income options in defined contribution plans as a supplement to and enhancement of accumulation of retirement savings, say attorneys with Alston & Bird LLP.

  • Opinion

    Lawyers Cannot Stay Silent While Trump Belittles The Courts

    Alexandra Wald

    This is not the first time that a president has criticized the judiciary. But what is unique about President Donald Trump's attacks is that they target not just a specific decision, but the judiciary and its decision-making power altogether. Every lawyer, regardless of political persuasion, must speak up, says Alexandra Wald of Cohen & Gresser LLP.

  • Marketing Basics For Solo Practitioners And Small Law Firms

    Matthew Horn

    There is no question that solo practitioners and small law firms need to spend the majority of time on legal work, but in order to achieve sustainable growth, marketing should not be a secondary task “put-off” until you have some free time, says Matthew Horn, founder of Legal Services Link LLC.

  • How Open-End Funds Can Utilize Swing Pricing

    Gary L. Granik

    Swing pricing works by allowing a fund to respond to significant purchase or redemption activity on a trading day by artificially reducing its net asset value. The U.S. Securities and Exchange Commission's recent acceptance of the concept evidences its concern with the risk of shareholder dilution resulting from transaction costs, say Gary Granik and Kim Kaufman of Stroock & Stroock & Lavan LLP.

  • Hype Surrounds Trump’s Financial Regulation Orders

    Thomas K. Potter III

    The Trump administration held photo ops for several executive orders last week with grand claims about doing “a big number” on the Dodd-Frank Act, and opponents reacted by claiming the orders are Wall Street’s license to steal. It’s an overheated spin cycle in which neither side is telling the truth, says Thomas Potter III of Burr & Forman LLP.

  • UK Financial Sector Shares Top Regulatory Concerns For 2017

    Sara Evans

    What do you expect your top regulatory challenge to be this year? Berwin Leighton Paisner LLP's recent survey of over 250 legal, risk and compliance professionals at U.K.-based banks, insurers and asset management firms highlighted three chief concerns for the sector.

  • Post-Spokeo Issues Emerge In The 5th Circ.

    Christopher Chorba

    Although the Fifth Circuit and its district courts have addressed Spokeo issues numerous times since the U.S. Supreme Court issued its decision, Spokeo’s future in the Fifth Circuit remains unclear. Recent opinions underscore that litigants should be prepared to argue not only about Spokeo’s significance for pre-existing case law, but also the scope of its applicability, say attorneys with Gibson Dunn & Crutcher LLP.

  • Law Firm Margin Improvement: The Long Game

    Jack Diggle

    For all the lessons learned since 2008, it's surprising that margin management remains so tactical, rather than an ongoing strategic endeavor, for law firms. The firms that will survive and thrive must invest in ongoing margin-improvement capability, which will combine enhanced business- and change-management skills and take a long-term view to drive out the more difficult changes, says Jack Diggle of Elevate Services Inc.

  • DOJ Criminal Division In 2016: Fraud Section Rising

    Kevin B. Muhlendorf

    A brief year-in-review document recently released by the U.S. Department of Justice provides a useful overview of what the Criminal Division’s largest litigating section accomplished in the last year and important hints at what the future holds for individuals and entities whose activities come within the Fraud Section’s broad reach, says Kevin Muhlendorf, a partner at Wiley Rein LLP and former federal prosecutor.