Asset Management

  • January 16, 2018

    HSBC, BofA, Others Hit With Suit Over Canadian Rate-Rigging

    Nine major banks, including Bank of America, HSBC and the Royal Bank of Canada, have been accused in a new lawsuit of conspiring to rig a benchmark interest rate linked to the cost of borrowing Canadian dollars so that they could boost their profits from certain related financial instruments.

  • January 16, 2018

    Ice Cube's Hoops League Looks To Stuff Rival's Suit

    A basketball league founded by actor and rapper Ice Cube told a New York federal court Friday that the suit brought against it by a rival league alleging stolen proprietary information and a breached contract should be dismissed because there is no record of the phone call that the claims are based on.

  • January 16, 2018

    Warburg Pincus Co-Leads On Ziroom's $620M Series A Raise

    Chinese apartment rental company and online platform Ziroom has raised 4 billion yuan ($619.6 million) in Series A financing from a group of investors led by Warburg Pincus, Sequoia Capital and Tencent, according to an announcement from the Beijing-based firm on Tuesday.

  • January 16, 2018

    Ramius Vows To Block Qualcomm's $37.7B NXP Buyout

    Ramius Advisors LLC, a shareholder of both Qualcomm Inc. and NXP Semiconductors NV, became the latest to decry Qualcomm’s $37.7 billion buyout bid for NXP, saying Tuesday it plans to vote against the deal because the offer is too low.

  • January 16, 2018

    Gibson Dunn Guides MGM Growth Bid To Buy VICI Properties

    Gibson Dunn & Crutcher LLP is representing MGM Growth Properties LLC in connection with its proposal, announced Tuesday, to buy fellow triple-net-lease real estate investment trust VICI Properties Inc. for $19.50 a share for all outstanding shares.

  • January 12, 2018

    Law360 Names Practice Groups Of The Year

    Law360 congratulates the winners of its 2017 Practice Group of the Year awards, which honor the law firms behind the litigation wins and major deals that resonated throughout the legal industry in the past year.

  • January 12, 2018

    The Firms That Dominated In 2017

    Law360’s Firms of the Year rose above the competition with a combined 24 Practice Group of the Year awards after helping their clients win game-changing judgments and close record-breaking deals in 2017. Here’s a closer look at how they landed at the top.

  • January 12, 2018

    Banks Told RMBS Subpoena Order Is 'Cost Of Doing Business'

    A New York federal judge on Friday refused pleas from banks and mortgage companies to scale back his order allowing costly subpoenas for loan documents to go forward in a U.S. Department of Justice civil action against Barclays PLC over $31 billion worth of toxic residential mortgage-backed securities, saying it’s the cost of doing business.

  • January 12, 2018

    CFTC Accuses Commodity Pool Operator Of Fraud

    The Commodity Futures Trading Commission filed suit and obtained an immediate restraining order Friday against Blue Guru Trading LLC and two of its principals for alleged fraud and misappropriation in obtaining some $750,000 in investments for a supposed futures pool.

  • January 12, 2018

    Woodbridge Resets Biz Model During Ch. 11 Control Battle

    Facing a federal securities and Ponzi scheme lawsuit in Florida and demands for a trustee takeover in Delaware bankruptcy court, the Woodbridge Group said Friday that it would shift from reliance on individual investors to institutional financing for its real estate development business.

  • January 12, 2018

    Valeant Says Insurers Must Defend Allergan, Stock-Drop Suits

    Valeant Pharmaceuticals has sued an AIG unit and other insurers, seeking coverage of its costs to defend lawsuits accusing it of orchestrating an insider trading scheme in connection with its attempted $55 billion takeover of Allergan and of fraudulently inflating its stock price, court documents filed Friday in New Jersey federal court show.

  • January 12, 2018

    Valeant Sees Most Claims Against It Stick In Stock-Drop Suits

    A New Jersey federal judge on Friday refused to dismiss the bulk of claims lodged in two sets of securities suits against Valeant Pharmaceuticals International Inc., ruling, among other things, that investors’ allegations of fraud and other violations met specificity requirements of the relevant laws.

  • January 12, 2018

    NJ Investors Launch $40M Suit Over Alleged Ponzi Scheme

    Three dozen investors have launched a more than $40 million lawsuit in New Jersey state court alleging that their money was used to repay other investors as part of a Ponzi scheme carried out by a fund administration firm and an investment manager who is facing related criminal charges.

  • January 12, 2018

    Fracking Co., Industrial REIT Price IPOs Raising $696M

    Private equity-backed fracking company Liberty Oilfield Services Inc. said Friday it raised $216 million in an upsized initial public offering, preceded Thursday by a $480 million deal from Industrial Logistics Properties Trust, marking the first two IPOs of 2018.

  • January 12, 2018

    Shkreli Hits Back At Feds' $7.3M Forfeiture Bid

    Controversial former pharmaceutical executive Martin Shkreli urged a New York federal judge Thursday to reject the government’s demands that he forfeit $7.3 million following his August conviction on securities fraud and conspiracy charges, arguing that he made no profit from the alleged crimes.

  • January 12, 2018

    Supreme Court Agrees To Review SEC's In-House Judges

    The U.S. Supreme Court agreed Friday to consider whether the hiring of U.S. Securities and Exchange Commission administrative law judges violates the appointments clause of the Constitution, a case that could call into question the legitimacy of past rulings by the administrative judges.

  • January 12, 2018

    Taxation With Representation: Davis, Skadden, Simpson

    In this week’s Taxation With Representation, SS&C Technologies Holdings Inc. bought DST Systems Inc. for $5.4 billion, the Blackstone Group LP purchased Pure Industrial Real Estate Trust for $3.05 billion and a Riverstone-Goldman Sachs joint venture snapped up Lucid Energy Group II for $1.6 billion.

  • January 12, 2018

    Goldman Sachs, CPPIB Lead $950M Peruvian PE Fund

    Goldman Sachs Asset Management LP and the Canada Pension Plan Investment Board led a $950 million investment round for Peruvian private equity firm Enfoca SAC, the company said Friday.

  • January 12, 2018

    REIT Far East Hospitality Drops $158M On Singapore Hotel

    Far East Hospitality Real Estate Investment Trust is buying and subsequently leasing back a hotel in downtown Singapore for SG$210 million ($158.2 million), according to an announcement on Friday from the Singapore-focused REIT.

  • January 11, 2018

    Ex-State Street Exec Can Try To Depose Clifford Chance Atty

    A Massachusetts federal judge on Wednesday granted a former State Street Global Markets LLC executive’s motion to depose a Clifford Chance attorney in the Netherlands before his trial on securities fraud charges, agreeing with the executive that the attorney’s testimony could swing his defense.

Expert Analysis

  • How 2 Devices And 1 Domain Changed My Practice In 2017

    Paul Kiesel

    The question I ask about new technology is how can it improve the quality of my practice — and my life? This year, the iPhone X, the Apple Watch Series 3 and a .LAW domain have proven to be great investments, for professional and personal reasons, says attorney Paul Kiesel of Kiesel Law LLP.

  • ERISA Litigation Trends In 2017

    Julie Goldsmith Reiser

    Developments this year in litigation under the Employee Retirement Income Security Act raise new issues for 2018 — such as whether state retirement plans will be hindered by ERISA preemption litigation and whether courts will develop a consistent approach to standing in defined benefit plan cases, say Julie Goldsmith Reiser and Jamie Bowers of Cohen Milstein Sellers & Toll PLLC.

  • Alternative Fees: My Experience At Bartlit Beck

    J.B. Heaton

    Bartlit Beck was a wonderful place to work for 18 years, and the lawyers there are not only excellent attorneys but also great people. That said, I can look analytically at the Bartlit Beck fee model and make some observations on its pros and cons, says J.B. Heaton, founder of investment analytics company Conjecture LLC.

  • Opinion

    Jurors Should Have An Active Role In Trials

    Judge Amos Mazzant III

    We tell jurors how important they are to the successful implementation of our judicial system, but oftentimes we don’t treat them with the reverence they deserve. U.S. District Judge Amos Mazzant III of the Eastern District of Texas, Lisa Blue of Baron and Blue, and Robert Hirschhorn of Cathy E. Bennett & Associates advocate three improvements to give jurors an active role in our civil and criminal jury trials.

  • SEC's Reversal On ALJs Could Affect Its Forum Choices

    Coates Lear

    In a sudden about-face, the U.S. Securities and Exchange Commission has ratified its administrative law judge appointments, seemingly resolving the constitutional issues surrounding its ALJs. This could mean that the SEC will resume filing litigated actions as administrative proceedings again, say attorneys with Squire Patton Boggs LLP.

  • The Landscape Of Financial Exploitation Rules: Part 1

    Clifford Kirsch

    As the baby-boomer generation exits the workforce and transitions into retirement, senior investors will begin accessing their retirement savings. To prevent abuse, financial institutions should carefully review the emerging federal and state framework regulating the financial exploitation of senior investors and adjust accordingly, say attorneys with Eversheds Sutherland.

  • DOL Fiduciary Rule — Still Very Much Alive

    Robert Gower

    While certain requirements of the U.S. Department of Labor's Fiduciary Rule were recently delayed, the rule's expanded definition of a fiduciary and the standards to which such fiduciaries are to be held are currently in effect, says Robert Gower of Trucker Huss APC.

  • Series

    40 Years Of FCPA: An Update From The DOJ

    Daniel Kahn

    U.S. Department of Justice prosecutors and law enforcement partners have secured more foreign bribery-related trial convictions and guilty pleas this year than in any other year in the history of the Foreign Corrupt Practices Act, in fact by almost twice as much. These are all significant cases with significant impacts, says Daniel Kahn, chief of the DOJ's FCPA Unit.

  • Why Information Governance Is More Important Than Ever

    Linda Sharp

    It used to be that hiring a good law firm was the single most important thing a company could do when facing litigation. You could now make the case that an organization’s most powerful asset in prosecuting or defending a claim is its information, says Linda Sharp, associate general counsel of ZL Technologies and chair of the ACC Information Governance Committee.

  • Opinion

    BigLaw Is Behind The Automation Curve

    Michael Moradzadeh

    In its new report on the effects of automation in the workplace, McKinsey Global Institute identifies lawyers as less susceptible to the sort of automation that could put one-third of American workers out of a career by 2030. This may seem reassuring, but it doesn't mean automation won't disrupt our bottom line, says Michael Moradzadeh of Rimon PC.