A Florida wealth manager whose firm was ordered to change its name to avoid Chicago-based Ariel Investments LLC’s trademark on “Ariel” asked the Seventh Circuit to delay the modification, arguing Monday that rebranding mid-tax season will hurt the manager's business.
A Pennsylvania federal judge on Monday said Omega Advisors Inc. founder Leon Cooperman can still be liable for trading on nonpublic information from a pipeline company executive even if he didn’t pledge not to trade until after the exec passed the tip, denying Cooperman’s motion to dismiss the U.S. Securities and Exchange Commission’s suit.
The U.S. Supreme Court on Monday declined to review a former Morgan Stanley employee’s claims he is entitled to whistleblower protections, despite not reporting to the U.S. Securities and Exchange Commission, after the Sixth Circuit found his allegations of working with the FBI were too vague.
National Health Investors Inc., a real estate investment trust focused on senior-housing and medical investments, said Monday that it has purchased five memory-care facilities in Texas and Illinois for $61.8 million and plans to lease them back to The LaSalle Group Inc.
A U.S. district court judge has directed a Delaware bankruptcy judge to support or clarify the constitutional authority behind a disputed release of Millennium Lab Holdings II LLC from non-bankruptcy fraud and racketeering claims under a $1.2 billion Chapter 11 plan confirmed in late 2015.
A holding company that allegedly suffered $230 million in losses because Wells Fargo & Co. rubber-stamped junk mortgages told a Manhattan federal magistrate judge on Friday that the company has proven ownership of the at-issue mortgages and that the bank's contentions otherwise are false.
A Texas federal judge won’t block the U.S. Department of Labor’s fiduciary rule for retirement account advisers while the U.S. Chamber of Commerce and others try to revive their challenge to it, ruling Monday the business groups hadn’t caused the court to question its earlier decision in the agency’s favor.
Jones Day represented Hansteen Holdings PLC in connection with its planned €1.277 billion ($1.372 billion) sale of a portfolio of German and Dutch properties, which includes the sale of subsidiary companies, to a venture of Simpson Thacher & Bartlett LLP-led, Blackstone Group LP-advised funds and M7 Real Estate, a deal Hansteen announced on Monday.
Private investors urged Delaware’s top court Thursday to reverse a Chancery Court decision obliging them to sue Allied Irish Banks PLC in Bulgaria to enforce a $41 million tender offer right, saying the ruling wrongly penalized them for prior litigation in Illinois.
As the comment period closed Friday on the U.S. Department of Labor’s proposal to delay the upcoming applicability date of its fiduciary rule for retirement advisers, the agency received hundreds of letters from industry and advocacy groups and individual investors both for and against the delay.
The U.S. Chamber of Commerce and other business groups urged a Texas federal court on Thursday to block the U.S. Department of Labor’s fiduciary rule despite the agency’s recent pledge not to enforce the rule if it can’t finalize a planned delay before the rule takes effect.
A joint venture between the Canada Pension Plan Investment Board, Singapore’s sovereign wealth fund GIC and student housing operator the Scion Group LLC has added three new U.S. student housing portfolios to its holdings through $1.6 billion in deals, the companies said on Thursday.
The Securities Industry and Financial Markets Association on Thursday sent a letter supporting a U.S. Commodity Futures Trading Commission proposal to allow firms greater flexibility to use current technology in maintaining records, while suggesting the agency make minor changes.
Canadian pension fund manager Caisse de dépôt et placement du Québec and private equity shop KKR & Co. LP revealed Friday they are acquiring USI Insurance Services LLC from its private equity owner in a deal that values the brokerage and consulting firm at $4.3 billion.
A Manhattan federal jury convicted New Jersey pastor Trevon Gross and Florida tech expert Yuri Lebedev on Friday on charges that they schemed to co-opt a small credit union in order to make it easier to process unlawful bitcoin-dollar exchanges and to obstruct a government investigation.
A handful of top law firms have distinguished themselves as the go-to firms for both investors seeking to recoup their losses and defendants fending off bet-the-company litigation, becoming the top shops in federal securities cases in the U.S, according to a report released Thursday.
The New York federal judge presiding at MF Global’s $2 billion professional malpractice suit against accounting giant PricewaterhouseCoopers on Thursday suggested that jurors in the case are probably “enormously confused” by the testimony and suggested the jury be given a primer on the evidence they’ve seen so far.
An attorney for Northrop Grumman employees who allege executives bilked their retirement fund by over-reimbursing the company for more than $10.5 million in purported administrative expenses questioned the aerospace giant’s benefits director during trial Thursday, delving into individual line items in a bid to show ERISA violations.
A Pennsylvania federal judge on Wednesday accepted a U.S. Department of Labor-endorsed method of distributing the assets of employee retirement trusts in a long-running suit against a disbarred Philadelphia attorney accused of diverting $34 million from 400 plans nationwide.
TIAA on Wednesday urged a New York federal court to certify a class of American Realty Capital Properties investors on claims that the real estate investment trust's accounting shenanigans sank its stock value, arguing thousands of investors similarly injured by ARCP's statements are a slam dunk for certification.
While Michael Piwowar, acting chairman of the U.S. Securities and Exchange Commission, may view defining accredited investor as "a line-drawing exercise fraught with peril," eliminating the line may be even more perilous, say attorneys with Orrick Herrington & Sutcliffe LLP.
One of the issues that will perhaps most affect the treatment and negotiating leverage of various creditors in Puerto Rico's ensuing Title III process is the determination of the type of security interest and collateral by which their bonds are secured, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
There are a variety of means for a robo-adviser to meet its obligations to clients under the Investment Advisers Act, as the U.S. Securities and Exchange Commission recently recognized. While every robo-adviser is different, high-risk areas tend to converge, say Ethan Silver and Scott Moss of Lowenstein Sandler LLP.
A recent survey found that nearly two-thirds of Am Law 200 firms are now using data analytics, compared to only about a tenth of regional and boutique firms. Yet the exploding market for data analytics technology in business is making these productivity tools available for any size matter or firm, say Christopher Paskach of The Claro Group and Douglas Johnston Jr. of Five Management LLC.
There is a way for banks, investment firms and insurers to reduce the chance that their risk assessment will be deemed "inadequate" under New York's new cybersecurity regulations — by having their policies and procedures vetted through the U.S. Department of Homeland Security's SAFETY Act, says Brian Finch of Pillsbury Winthrop Shaw Pittman LLP.
Most legal and business leaders know that internal culture — including tone, operating style, standard of behavior and shared values that guide employee decisions — can make or break a firm. An internal audit can assess a firm's culture and identify potential issues within the organization, says Justin Gwin of Kaufman Rossin PA.
For decades, law firms have taken on considerable expense to acquire or rent opulent office space, often with the intention of signaling seriousness and reliability to their clients. But more recently, solo practitioners and established firms alike have started breaking tradition, says Philippe Houdard, co-founder of Pipeline Workspaces.
Both the Puerto Rico oversight board and the new commonwealth administration have expressed a strong preference for restructuring the commonwealth’s debt through the use of Title VI of the Puerto Rico Oversight, Management and Economic Stability Act. However, Title VI is unlikely to provide a realistic path to restructure tax-supported debt, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
If today’s law firms are willing to rethink their perceptions of millennials, they may see greater success in attracting and retaining new talent by giving the younger generation the kind of retirement planning benefits they want and need, says Nathan Fisher of Fisher Investments.
The cases challenging President Donald Trump’s executive orders fit within the established legal framework that limits, but does not preclude, judicial review of such orders, says Steven Gordon of Holland & Knight LLP.