Asset Management

  • October 18, 2017

    Investcorp Adds To Buying Spree With $370M Kee Safety Deal

    Investment manager Investcorp said Wednesday it will acquire Kee Safety Ltd., a U.K.-based supplier of guardrail and other safety products, from private equity firms Dunedin LLP and Lloyds Development Capital Ltd. for $370 million (£280 million) as Investcorp aggressively pursues a new growth strategy.

  • October 18, 2017

    MarkitServ Settles Swap Trading Monopoly Suit

    Interest rate swap trading company MarkitServ Ltd. has settled allegations it has a monopoly on the processing service industry brought by financial technology company TrueEx LLC, according to a filing in New York federal court Tuesday.

  • October 18, 2017

    Sullivan, Simpson Steer $100M Data Center REIT Investment

    Sullivan & Cromwell LLP represented data center REIT CyrusOne Inc. in connection with its $100 million equity investment, announced Wednesday, in Chinese data center operator GDS Holdings Ltd., which had counsel from Simpson Thacher & Bartlett LLP.

  • October 17, 2017

    7th Circ. Upholds 4-Year Sentence For Defrauding Seniors

    A Seventh Circuit panel on Tuesday refused to overturn a sentencing order against a California man convicted of defrauding investors — including Illinois residents — of nearly $1 million in a retirement savings scheme between 2009 and 2012.

  • October 17, 2017

    Shkreli Acquittal Inadmissible At Trial, Gov't Argues

    An additional pool of 100 potential jurors was added Tuesday in the Brooklyn federal trial of former Katten Muchin Rosenman LLP attorney Evan Greebel, accused of conspiring with Martin Shkreli to defraud Retrophin Inc., just hours after the government fired back at Greebel's contention that the pharma-bro’s acquittal on one of the conspiracy counts is admissible.

  • October 17, 2017

    Fund Exec Says 2nd Circ. Can Skip Media Claims In Libel Row

    A former hedge fund executive accusing Bloomberg LP of defamation has urged the Second Circuit to reject media organizations’ contention that New York law protects journalists reporting statements by parties involved in litigation, saying that, if adopted, it would excuse journalists from even “elementary fact-checking.”

  • October 17, 2017

    Advisers Rip Wells Fargo's Bid To Turn Tables In MBS Suit

    The investment advisory affiliates of BlackRock and other financial services firms have blasted a push by Wells Fargo to make them help pay any judgments that the bank may be found to owe the firms’ funds in a suit over its handling of 12 residential mortgage-backed securities trusts, saying the bank is bogging down an already-complicated case.

  • October 17, 2017

    Madoff Relative Must Hand Over Some Docs In Clawback Case

    A Bernie Madoff relative at the center of a Chapter 11 clawback suit waived attorney-client privilege over an email he received from his lawyer by forwarding it to the incarcerated Ponzi schemer, a New York bankruptcy judge said Tuesday in an opinion that shielded other case files sent to Madoff.

  • October 17, 2017

    BNY Fights Trust Class’s Bid For Quick Win In Tax Fee Dispute

    The Bank of New York Mellon Corp. asked a Massachusetts federal judge on Monday to snub a proposed class of trust beneficiaries who accuse it of charging excessive tax-preparation fees, saying the facts don’t support the beneficiaries’ allegations that it illegally marked up charges from accountant PricewaterhouseCoopers.

  • October 17, 2017

    EIG Funds Say Petrobras Lacks Immunity From Drillship Suit

    An array of funds managed by EIG Global Energy Partners LLC pushed back on Monday against a bid by Petrobras to have the D.C. Circuit reverse a decision allowing the funds to bring claims over a failed drillship venture, urging the appeals court to reject the Brazilian oil and gas behemoth’s “gambit for immunity.”

  • October 17, 2017

    Platinum Judge Suddenly Reassigns $1B Fraud Cases

    The chief federal judge in Brooklyn suddenly reassigned the government's $1 billion fraud cases against several former Platinum Partners executives and others, leaving another judge to handle the nine-month-old parallel civil and criminal cases on Tuesday.

  • October 17, 2017

    ChinaCast Shareholders Defend Bid To Collect From Insurers

    After winning a $66 million judgment against now-bankrupt ChinaCast Education Corp., private equity fund Jayhawk continued fighting Monday for payments from ChinaCast insurers, telling a New York bankruptcy judge its pursuit is not an “asset grab” but the logical outcome of the situation.

  • October 17, 2017

    Deals Rumor Mill: SpringerNature, Pure Group, Deutsche Bank

    SpringerNature is readying an initial public offering that could value the educational publishing business at up to €4 billion, private-equity-backed yoga and fitness center operator Pure Group is for sale, and the IPO of Deutsche Bank’s asset management division could raise €2 billion.

  • October 17, 2017

    Brown Rudnick Adds Ex-Mayer Brown M&A Pro In NY

    The former co-chair of one of Mayer Brown LLP’s mergers and acquisitions groups, whose more than 20 years of transactional experience includes leading on the $1.4 billion merger of two chemical companies, has joined Brown Rudnick LLP in New York.

  • October 17, 2017

    2nd Circ. Vindicates Bharara's Level Global Raid

    The Second Circuit on Tuesday tossed Level Global Investors LP founder David Ganek’s claims that then-U.S. Attorney Preet Bharara's 2010 insider trading raid violated his rights, saying there was probable cause for the search even without what Ganek calls falsified evidence.

  • October 17, 2017

    High Court Cancels Leidos Arguments In Wake Of Settlement

    The U.S. Supreme Court granted a request on Tuesday by Leidos Inc. and a group of investors in the company to cancel next month's hotly anticipated oral arguments so the parties can finalize a settlement and submit it to a lower court for approval.

  • October 16, 2017

    SEC Asks Supreme Court To Weigh In On In-House Judges

    The U.S. Securities and Exchange Commission has joined those already urging the U.S. Supreme Court to resolve whether the agency's administrative law judges function as "inferior officers" who need to be appointed in accordance with the Constitution's appointments clause, rather than hired like other federal employees.

  • October 16, 2017

    Ex-Katten Atty Loses Bid To Nix Shkreli Conspiracy Charge

    Jury selection began Monday in the Brooklyn federal trial of former Katten Muchin Rosenman LLP attorney Evan Greebel, accused of conspiring with "pharma-bro" Martin Shkreli to defraud the pharmaceutical company Retrophin Inc., three days after the judge shot down a defense motion to dismiss one of the conspiracy counts.

  • October 16, 2017

    Leidos Settles Fraud Suit Ahead Of High Court Arguments

    Government contractor Leidos Inc. and a proposed class of investors who accused it of fraud have settled their proposed class action just a month before they were set to argue before the U.S. Supreme Court about a Second Circuit decision that brought the plaintiffs' case back to life.

  • October 16, 2017

    Linklaters Nabs Mayer Brown Derivatives Pro For NY Office

    Linklaters LLP has recruited for its global capital markets practice a former Mayer Brown LLP structured finance and derivatives partner deeply versed in Dodd-Frank compliance, saying he began work in New York on Friday.

Expert Analysis

  • SEC's Pay-To-Play Universe Continues To Expand

    Zachary Parks

    Because capital acquisition brokers may act as placement agents in the sale of certain securities, the U.S. Securities and Exchange Commission is now proposing to expand its pay-to-play rules to include CABs. The rule may also encourage investment advisers to take certain steps, says Zachary Parks of Covington & Burling LLP.

  • 5 Tips To Ensure Proper Deposition Behavior

    Brian McDermott

    If conducted properly, depositions can be a powerful tool. At times, though, opposing counsel employ tactics to impede the examiner’s ability to obtain unfiltered, proper testimony from the deponent. By knowing and effectively using applicable rules and case law, however, deposing attorneys can take specific steps to combat these tactics, say attorneys with Ogletree Deakins Nash Smoak & Stewart PC.

  • The SEC Data Breach And Impact On New Reporting Rules

    Jeanette Turner

    The mutual fund industry has expressed concerns about troves of new data being filed on EDGAR starting in June 2018 as part of the U.S. Securities and Exchange Commission’s new reporting requirements. The recent disclosure of an SEC breach perfectly illustrates those concerns and adds to the clamor to delay or revise the requirements, says Jeanette Turner, managing director and chief regulatory officer at Advise Technologies.

  • Making Sense Of The SEC Data Breach

    Scott Kimpel

    Chairman Jay Clayton of the U.S. Securities and Exchange Commission recently made the surprising announcement that the SEC’s EDGAR database had been hacked. The chairman’s statement and subsequent testimony leave a number of critical questions unanswered, says Scott Kimpel of Hunton & Williams LLP.

  • Series

    Judging A Book: Tunheim Reviews 'Miles Lord'

    Chief Judge John Tunheim

    Litigator Roberta Walburn’s rollicking new book, "Miles Lord: The Maverick Judge Who Brought Corporate America to Justice," is a really good read — a fascinating story about a life lived in the heat of battle and usually at the edge of what might have been considered appropriate for a federal judge, says Chief U.S. District Judge John Tunheim of the District of Minnesota.

  • Technology Assisted Review Can Work For Small Cases

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    For as long as e-discovery lawyers have been using technology assisted review, a belief has persisted that it cannot be used economically or effectively in small cases. But TAR can be highly effective in small cases, typically reducing the time and cost of a review project by 60 to 80 percent, say John Tredennick, Thomas Gricks III and Andrew Bye of Catalyst Repository Systems LLC.

  • Financial Crisis Anniversary

    The Lasting And Evolving Role Of FSOC

    Amias Gerety

    The Financial Stability Oversight Council, created in the wake of the global financial crisis that caused so much human and economic damage over the last decade, has been a central point of controversy about the Dodd-Frank Act. But time will prove that the core purposes and duties of the council are important, say Amias Gerety and David Portilla, both formerly of the FSOC.

  • Univ. Section 403(b) Retirement Plans: Litigation Update

    Michael Graham

    A series of recent lawsuits that focus on universities’ Section 403(b) retirement plans are similar to the 401(k) plan excessive fee cases against for-profit companies that have been common over the past decade. If any of these new suits are successful, then retirement plans offered by a host of nonprofit entities may be ripe candidates for legal challenges as well, say Michael Graham and Charles Stevens of Michael Best & Friedrich LLP.

  • 4th Amendment And Shared Servers: Lessons From Shkreli

    Claire Johnson

    The prosecution of Martin Shkreli reveals some important lessons about the Fourth Amendment protections against search and seizure in the digital corporate context: Physical access to documents on a server may trump actual ownership of records, say Claire Johnson and Douglas Young of Farella Braun & Martel LLP.

  • New Sedona Principles Stress Information Governance

    Saffa Sleet

    The Sedona Conference Working Group's updated Sedona Principles provides a timely reminder that the legal industry needs to be thinking more seriously about the interconnectedness between e-discovery and information governance, says Saffa Sleet of FTI Consulting Inc.