Asset Management

  • June 16, 2017

    Consolidated Audit Trail Fee Plan Unfair, SEC Told

    OTC Markets Group and the Securities Industry and Financial Markets Association have both filed comment letters blasting the allocation of fees to pay for the Consolidated Audit Trail, telling the U.S. Securities and Exchange Commission the plan unfairly burdens smaller exchanges and broker-dealers.

  • June 16, 2017

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen a St. Bart's property development vehicle open a new litigation front with asset manager Duet Group and a new insurance claim against Chubb and Allianz, among other claims. Here, Law360 looks at those and other new claims in the U.K.

  • June 16, 2017

    JPMorgan Wants Adviser’s Suit Axed Over FINRA Arbitration

    JPMorgan Chase & Co. and a subsidiary asked a California federal judge on Thursday to ax a wrongful termination suit brought by a former financial adviser who claims he was pushed out of the company for whistleblowing, saying he brought the same claims in arbitration years ago.

  • June 16, 2017

    Shkreli Wants Millions In Bail Back For Bills

    Martin Shkreli, the devil-may-care former pharma CEO whose securities-fraud trial is set to start in less than two weeks, asked a New York federal judge on Thursday to release over half of his bail money — $3 million — for pressing legal and tax bills.

  • June 16, 2017

    Fees Chopped, Releases Cut In $25M Third Ave. Settlement

    A $25 million settlement of a suit prompted by a 2015 junk bond fund meltdown hit a Delaware Chancery Court speed bump Friday, with a vice chancellor chopping $2 million from a $5 million fee sought by shareholder attorneys and threatening to reject the deal.

  • June 16, 2017

    Reinsurer Exec Says $50M RICO Suit Must Be Arbitrated

    Three reinsurance executives Thursday asked a New York federal court to send a $50 million Racketeer Influenced and Corrupt Organizations Act case against them to arbitration, saying the arbitration clause in the reinsurance agreement applies to them as well as their company.

  • June 16, 2017

    Travelers Says Charney Defamation Suit Costs Not Covered

    Travelers Indemnity Co. on Thursday asked a New York federal court to declare it does not have to pay the costs hedge fund Standard General LP incurred defending a defamation lawsuit by American Apparel’s ousted CEO Dov Charney, saying the suit was over an employment issue and not advertising.

  • June 16, 2017

    NJ Hedge Fund Owner To Face All Counts In 1 Trial

    A New Jersey federal judge has denied a bid from a purported hedge fund owner to sever one count of a four-count indictment alleging he stole $4 million from investors, but the jurist ordered a hearing on his motion to dismiss the indictment over claims the government destroyed evidence.

  • June 15, 2017

    American Regulators Playing FinTech Catch-Up

    U.S. regulators are finally arriving at the financial technology party, and experts say two agency initiatives announced in the past month are an encouraging sign the regulators are catching up with their global counterparts when it comes to fostering fintech innovation, but still have a ways to go.

  • June 15, 2017

    No Rules On Key REIT Metric, Witness Says In Ex-CFO Trial

    A cooperating witness in the prosecution of ex-American Realty Capital Properties Chief Financial Officer Brian S. Block conceded in a New York federal court Thursday that there were no laws, rules or regulations about the reporting of an earnings metric that Block is charged with falsifying in SEC filings.

  • June 15, 2017

    Gov’t Goes After Another $540M In Assets In 1MDB Scheme

    The federal government dramatically expanded its efforts to seize assets linked to a sprawling corruption scheme surrounding the sovereign wealth fund 1Malaysia Development Bhd. on Thursday, asking a California federal court for permission to seize $540 million worth of goods including a $250 million yacht, a Picasso painting and jewelry given to the supermodel Miranda Kerr and the wife of a top Malaysian government official.

  • June 15, 2017

    Judge Won't Toss Suit Against GE Capital Over $3.6B Scheme

    A Florida bankruptcy judge on Thursday denied General Electric Capital Corp.'s bid to escape a suit alleging it participated in the $3.6 billion Ponzi scheme orchestrated by Tom Petters, paving the way for the claims to go to a jury.

  • June 15, 2017

    Investors Get Class Cert. In Angola Oil Bribe Suit

    A Texas federal judge granted class certification Thursday to hundreds of investors suing Cobalt International Energy Inc. for allegedly bribing government officials in Angola to get oil-drilling permits and then making misrepresentations to stock and bond investors that led to billions in losses.

  • June 15, 2017

    Broker Denied New Trial In $22M Oil Investment Fraud Case

    A Texas federal judge on Thursday denied a broker’s attempt to get a new trial in the U.S. Securities and Exchange Commission’s case accusing him of selling $22 million in unregistered investment vehicles that were disguised as partnerships in oil and gas drilling.

  • June 15, 2017

    Real Estate Rumors: Google, Hines, Gateway Casinos

    Google is reportedly in late-stage talks to pay between $25 million and $30 million for 300 Silicon Valley apartment units, a Hines venture is said to have scored a $163 million loan from Goldman for a Houston tower, and PE-owned Gateway Casinos & Entertainment is reportedly in talks for a roughly $377 million sale-leaseback of as many as three Vancouver properties.

  • June 15, 2017

    Anthem, CalPERS Sued Over Reimbursement Levels

    A California man has filed a proposed class action against the California Public Employees' Retirement System and Anthem Blue Cross Life & Health Insurance Co. over the insurer's alleged practice of setting arbitrarily lower “allowable” payment rates for out-of-network doctors and dramatically increasing the amount patients were responsible for.

  • June 15, 2017

    Deals Rumor Mill: Slack, Capita, SS&C Technologies

    Corporate messaging software startup Slack could be sold in a deal worth $9 billion or more, multiple suitors are vying for Capita's asset management services division, and SS&C Technologies, worth around $7.9 billion, could be up for grabs.

  • June 15, 2017

    Granite Point Mortgage REIT Launches $205M IPO

    Granite Point Mortgage Trust Inc., a mortgage real estate investment trust run by asset manager Pine River Capital Management LP, set terms on a $205 million initial public offering Thursday, marking the third commercial REIT to launch an IPO this week.

  • June 15, 2017

    Judge OKs $9.5M Deal To Settle Tile Shop Investor Suit

    A Minnesota federal judge gave final approval Wednesday to Tile Shop Holdings Inc.’s $9.5 million settlement with a class of shareholders who claimed that the company misled them about its intertwined professional and personal relationships with an exporter and supplier in China.

  • June 15, 2017

    SEC Cuts Tilton Disgorgement By $45M After Justices' Ruling

    The U.S. Securities and Exchange Commission has dropped $45 million from its requested disgorgement against private equity magnate Lynn Tilton after the U.S. Supreme Court ruled earlier this month that disgorgement collected by the agency is subject to a five-year statute of limitations.

Expert Analysis

  • A Review Of Recent Cases Against Execs: Part 2

    Lauren Briggerman

    In the second half of their summary of major government investigations affecting corporate executives this spring, attorneys with Miller & Chevalier Chtd. highlight key developments that affect executives beyond the investigation phase, including noteworthy sentencings, judicial rulings, and government policies and guidance.

  • Asset Management M&A Is Here To Stay

    Christopher Henry

    There’s a lot of sound reasoning behind the idea that asset management M&A is likely to slow in 2017 after several very busy years. But even if the overall dollar volume of deals falls, and the larger and transformative deals taper off, certain types of deals will continue, says Christopher Henry of Lowenstein Sandler LLP.

  • Series

    The Return Of Attorney-Conducted Voir Dire

    Stephen Susman

    If we truly believe in providing litigants with a jury of one’s peers, we must adopt strategies to ensure that parties and their representatives have a say in selecting their jury. When only judges participate, the result is a less representative and less fair cross section of the community, say Stephen Susman, Richard Jolly and Roy Futterman of NYU School of Law's Civil Jury Project.

  • Monthly Column

    Gray Matters: Identities Are Us


    Lawyers faced with clients who can’t or won’t listen to their advice must consider that the core of this risky decision may be a person's inability or refusal to relinquish a prime identity in times of uncertainty, say dispute resolution experts Robert Creo and Selina Shultz.

  • The Emerging Popularity Of Interval Funds

    Steven Boehm

    In the past few months, there has been a considerable upsurge in interest in interval funds by money managers in light of investor demand and appetite for them. Attorneys with Eversheds Sutherland explore why investors and money managers alike may continue to flock to them.

  • Glass-Steagall Revival Could Have Profound Impact

    V. Gerard Comizio

    The financial services industry faces the real possibility of a bipartisan effort to reinstate the portions of the Glass-Steagall Act that separated commercial and investment banking. Depending on the final form any new legislation takes, the changes could go further than merely reinstating the status quo as of 1999, say V. Gerard Comizio and Nathan Brownback of Fried Frank Harris Shriver & Jacobson LLP.

  • Keeping Up With The SEC's Enforcement Priorities

    Jack Yoskowitz

    Often, the U.S. Securities and Exchange Commission’s enforcement priorities only become apparent once the commission begins to crack down on a particular practice. A recent decision in the case of Revelation Capital highlights the need for firms, when faced with a new SEC priority, to be able to quickly pivot toward a defensive approach, say Jack Yoskowitz and Laura Miller of Seward & Kissel LLP.

  • My Milkshake Is Better Than Yours: Part 2

    Jill Dessalines

    In the second installment of this two-part series on disruptive innovation among mid-size law firms, Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former senior vice president at McKesson Corp., explores a number of ideas for keeping clients and maintaining market position.

  • Opinion

    DOL Fiduciary Rule Puts American Investors First

    Anil Vazirani

    American workers and families should cautiously applaud U.S. Department of Labor Secretary Alexander Acosta’s recent decision to allow partial implementation of the fiduciary rule to proceed. He recognizes the need to protect retirement investors, but the reality is that investors will still need to fight to keep this protection from predatory marketing practices, says 

Anil Vazirani, president and CEO of Secured Financial Solutions LLC.

  • Extending Omnicare Beyond The Section 11 Case

    William Sullivan

    With its recent decision in a securities suit against Align Technology, the Ninth Circuit joined the Second Circuit in applying Omnicare’s heightened falsity pleading standards to Section 10(b) and Rule 10b-5 fraud claims. Companies should therefore pay attention to the Omnicare standards as applied to all of their public statements, say attorneys with Paul Hastings LLP.