A Missouri real estate and banking businessman who was charged with defrauding a bank that he indirectly owned and causing it to fail while it was millions in debt to the federal government pled guilty on Wednesday, just three weeks before he and another defendant were set to face a jury.
Norton Rose Fulbright announced Thursday it has bolstered its Houston office with the hiring of a Baker McKenzie partner who practices in the areas of corporate, mergers and acquisitions and securities law.
A publicly traded corporate lender whose stock tumbled last August has been slapped with two proposed class actions in the past week in California federal court that accuse it of misleading shareholders about its loss of staff and a related rise in nonperforming loans.
An organization representing state securities regulators on Thursday joined the growing chorus of government officials warning the public of potential pitfalls relating to cryptocurrency investments and so-called initial coin offerings.
A former hedge fund manager who pled guilty to bilking scores of investors by fraudulently inflating his firm's net asset value and diverting funds for personal use was ordered by a New Jersey federal judge on Wednesday to pay $4 million in restitution.
An investor group spearheaded by Apollo Global Management and Varde Partners said Tuesday it will pay $1.4 billion to take over the portion of consumer finance company OneMain Holdings Inc. owned by private equity giant Fortress Investment Group.
Attorneys lining up arguments over a U.S. Securities and Exchange Commission bid to oust Woodbridge Group’s bankruptcy team grappled Wednesday with how to stipulate the scope of the company’s alleged $1.2 billion fraud without getting bogged down in details or blowing up claims or defenses.
Hedge fund Aurelius Capital Management on Tuesday reasserted its claims that the federal board representing Puerto Rico in its financial restructuring cases was unconstitutionally appointed, saying there is no exception in the U.S. Constitution's appointments clause for "territorial officers."
McDermott Will & Emery LLP said Tuesday it is bolstering its securities defense practice with the addition of a former top enforcement attorney for the U.S. Securities and Exchange Commission, who will serve as a partner in the firm’s Chicago office.
The U.S. Securities and Exchange Commission said Wednesday that the former chief of ConvergEx Group LLC's transition management business has agreed to pay nearly $1 million as part of a deal settling claims he played a leading role in a scheme that allegedly bilked clients out of millions of dollars through hidden charges on their trades.
A California appeals court on Tuesday rejected a former Merrill Lynch regional executive’s claims that judicial bias tainted his trial on allegations the firm discriminated against him because he is Mormon, saying a judge treated him fairly but must still rethink fees she awarded the company.
Spotify has filed for an unconventional type of public listing in New York, RBS is selling £150 million ($203.4 million) worth of offshore assets from its asset financing business, and the Czech National Bank is preliminarily rejecting a request from China's CEFC to substantially increase its holding in J&T Finance.
A former executive of Och-Ziff Capital Management Group LLC stands accused of hiding conflicts of interest in a multimillion-dollar investment deal and faking a document after learning investigators were looking into foreign bribery by the hedge fund, according to an indictment unsealed Wednesday.
Cloudflare Inc.'s Alissa Starzak discusses her former role as general counsel for the U.S. Army and the lengthy confirmation process leading up to it, as well as her present work in the private sector and views of net neutrality.
A group of 36 former employees of Stanford Group Cos. on Tuesday asked the Fifth Circuit to intervene in litigation over R. Allen Stanford's $7 billion Ponzi scheme, arguing a lower court wrongly allowed underwriters to walk away with $36 million of unpaid coverage without providing them any compensation or benefit.
Bill Ackman’s Pershing Square Capital Management LP hedge fund plans to pare its stake in real estate developer Howard Hughes Corp. through the sale of 2.5 million shares, potentially raising more than $300 million, according to a regulatory filing Wednesday.
Chicago-based Harrison Street Real Estate Capital sold a 22-property student housing portfolio to Scion Student Communities for approximately $1 billion, the investment firm announced Wednesday.
Brazilian oil giant Petrobras said Wednesday that it has struck a tentative deal to pay $2.95 billion to resolve an investor class action over a corruption scandal that sent the prices of its securities tumbling and asked the U.S. Supreme Court to delay its decision on whether to hear the case.
Hedge fund Pershing Square and Valeant Pharmaceuticals have reached a $290 million preliminary agreement to settle two investor suits in California federal court accusing them of an insider trading scheme in connection with Valeant’s attempted $55 billion takeover of Allergan.
The conviction of former Katten Muchin Rosenman LLP partner Evan Greebel for conspiring with “Pharma Bro” Martin Shkreli to defraud Retrophin Inc. and its investors is a harsh reminder to lawyers of the importance of knowing when to walk away from a dangerous client, experts said Tuesday.
The U.S. agencies’ increasing coordination with their foreign partners has led to more potent Foreign Corrupt Practices Act investigations — in terms of both their scope and settlement cost, say Patrick Stokes, former chief of the FCPA Unit at the U.S. Department of Justice, and Zachariah Lloyd of Gibson Dunn & Crutcher LLP.
Simply originating an initial coin offering in a foreign jurisdiction may not be sufficient to avoid the long and global reach of the U.S. securities laws — and the current ICO dragnet of the U.S. Securities and Exchange Commission’s new cyber unit, says John Reed Stark, president of John Reed Stark Consulting LLC.
Gary Ford's new book, "Constance Baker Motley: One Woman’s Fight for Civil Rights and Equal Justice Under Law," is more than a biography of the first African-American woman to become a federal judge. It presents in vivid detail how her work altered the legal landscape of the United States, says U.S. District Judge Marcia Cooke of the Southern District of Florida.
Google’s status as a go-to research tool has transformed legal research habits, leading critics to view law libraries as cost centers. Law firms should embrace Google-style research tools and manage costs efficiently in order to position their libraries as valuable assets for years to come, says Donna Terjesen of HBR Consulting.
Millennials are now the largest living generation and comprise one-third of jurors. While it is impossible to generalize a group so large and diverse, trial lawyers should be mindful of certain generational differences, say baby boomer Lee Hollis and millennial Zachary Martin of Lightfoot Franklin & White LLC.
There have been many articles on the corporate monitor selection process, but you will find little guidance on how to prepare yourself for a job that has few parallels. There are three key lessons I have learned over the course of a Foreign Corrupt Practices Act monitorship still in progress, says Gil Soffer of Katten Muchin Rosenman LLP.
When a borrower finds itself in a distressed situation, management or private equity sponsors will often identify valuable assets to isolate them from the distressed company, often to the detriment of certain creditors. A recent example involving Algeco Scotsman offers important takeaways for issuers as well as bondholders, say Adam Summers and Corey Fersel of Fried Frank Harris Shriver & Jacobson LLP.
Families of significant wealth have come to realize the benefits of establishing a family office, including enhanced control, privacy, customization of asset allocation, wealth and risk management and integrated legacy planning. Changes to the tax code currently pending in Congress could open up even more planning opportunities, say attorneys with Day Pitney LLP.
The government’s new position on the constitutionality of the U.S. Securities and Exchange Commission’s administrative law judges is more far-reaching and potentially consequential than is generally understood, says Daniel Walfish, a former SEC senior counsel now with Milbank Tweed Hadley & McCloy LLP.
Much has been written about the 2012 "Resource Guide to the U.S. Foreign Corrupt Practices Act," but no one has talked about the behind-the-scenes work that produced the guide — until now, say Charles Duross, former chief of the FCPA Unit at the U.S. Department of Justice, and Kara Novaco Brockmeyer, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission.