Asset Management

  • June 21, 2017

    China Shares Finally Added To Key Emerging Markets Index

    Stocks benchmark provider MSCI Inc. said Wednesday it will add mainland Chinese shares on its emerging markets index — after three previous rejections —  a big step toward validating China’s efforts to gain credibility with global investors and open its capital markets abroad.

  • June 21, 2017

    Marblegate Picks New Fight With EDMC After 2nd Circ. Loss

    Marblegate Asset Management LLC, a lender to Education Management Corp. whose challenge to the troubled for-profit education firm’s restructuring plan was thwarted by the Second Circuit, has filed a new suit to make the borrower pay its debts under an alternate legal theory.

  • June 21, 2017

    Adviser Gets 2 Years In $1.3M ‘Cherry-Picking’ Scheme

    A Massachusetts investment adviser who admitted he kept lucrative trades for himself while pawning off unprofitable ones to his clients was sentenced to two years in prison Wednesday.

  • June 20, 2017

    Ex-Faruqi Atty Seeks to 'Rewrite' Fee Deal, Firm Tells 2nd Circ.

    A former partner at Faruqi & Faruqi LLP trying to revive claims on a piece of a $4 million settlement for clients she brought to the firm wants to "rewrite the terms" of an alleged fee commission deal, according to a brief the firm filed Monday with the Second Circuit.

  • June 20, 2017

    FINRA Panel's $20M Award Over Soured Trade Approved

    A California federal judge on Tuesday upheld a $20 million award issued by a Financial Industry Regulatory Authority panel, finding that the arbitrators had not clearly ignored California law when they held Canadian hedge fund founder Scott Dorey and others liable for losses sustained by a Delaware trading company in a securities deal gone wrong.

  • June 20, 2017

    7th Circ. Affirms Conviction For NBA Investment Adviser

    A Seventh Circuit panel issued a published decision Tuesday that affirmed the conviction of an ex-Chicago-area investment advisor who was accused of misrepresenting his assets and using financial information from clients, including NBA player Scottie Pippin, to secure more than $3 million in loans.

  • June 20, 2017

    National Events Restructuring Put On Hold Again

    The restructuring of defunct ticket reseller and possible Ponzi scheme vehicle National Events Holdings LLC was again put on pause Tuesday when a New York bankruptcy court concluded there simply wasn’t enough information to make a major ruling in the hopelessly tangled case just yet.

  • June 20, 2017

    Feds' Witness Branded As Liar In American Realty Fraud Trial

    The federal government’s star witness in a New York fraud trial against a former American Realty executive was prodded Tuesday about her inexperience with a key earnings metric and grilled for lying in a lawsuit and to OSHA about her exit from the company.

  • June 20, 2017

    Biz Groups Say Bankruptcy Law Stops Lehman Swap Claim

    Three securities industry groups have urged a New York federal judge to uphold a bankruptcy court decision dismissing a Lehman Brothers unit’s bid to recover $1 billion from swaps transactions the firm says were wrongfully terminated, saying the terminations are protected by bankruptcy law.

  • June 20, 2017

    CFTC Dem Calling It Quits Over 'Intolerable' Gridlock

    The only Democratic commissioner of the U.S. Commodity Futures Trading Commission said Tuesday she will soon resign, citing the “intolerable” gridlock created by the prolonged vacancies on the five-member commission.

  • June 20, 2017

    Putnam Investments Beats ERISA Class Action

    A Massachusetts federal judge ruled for Putnam Investments LLC on Monday in an Employee Retirement Investment Security Act class action alleging that it mismanaged a retirement plan, finding that the company did not necessarily shortchange workers by offering mostly in-house funds as investment options.

  • June 20, 2017

    Puerto Rico Blasted For Trying To Expand Bankruptcy Shield

    Groups of bondholders are accusing the Puerto Rico government of impermissibly attempting to protect government officials and conceal information that should be open to legal discovery by expanding the automatic litigation shield enabled by its court-monitored financial restructuring.

  • June 20, 2017

    Wells Fargo Says Account Scandal Not Securities Fraud

    Wells Fargo & Co. urged a California federal court Monday to toss a proposed class action brought by investors in the wake of the bank’s unauthorized-account scandal, arguing that the managerial lapses alleged in the suit are serious but do not add up to securities fraud.

  • June 20, 2017

    Pa. Justices Ax Fiduciary Duty In Insurance-Advice Dispute

    A life insurance salesperson's advice gave rise to no fiduciary duty for customers who called their own shots, the Pennsylvania Supreme Court ruled Tuesday, overturning an appeals court’s decision favoring customers who said the insurance they bought was a con.

  • June 20, 2017

    Supermarket Income REIT Eyeing £200M IPO

    Supermarket Income REIT PLC is looking to raise as much as £200 million ($252.5 million) through an initial public offering on the London Stock Exchange, according to an announcement from the U.K. firm on Tuesday.

  • June 19, 2017

    REIT Head Urged Fraud Of Key Earnings Metric, Jury Hears

    The ex-CEO of American Realty Capital Properties told his then-financial chief which line of a U.S. Securities and Exchange Commission filing to finagle so a key earnings metric would match the company’s investor guidance, the government’s star witness testified Monday in the former CFO's New York federal fraud trial.

  • June 19, 2017

    Justice Sotomayor On Working A Room And The Post-Scalia Void

    Justice Sonia Sotomayor discusses the one thing she hates seeing at oral arguments, why diversity matters on the federal bench, and her habit of embracing audience members at live talks, in the first of two articles based on an exclusive interview with the 111th justice.

  • June 19, 2017

    Don't Believe The Tweet — Shkreli Low On Cash, Atty Says

    Federal prosecutors Monday ripped controversial ex-pharma executive Martin Shkreli for trying to reduce his bail by millions of dollars while spouting off about his money ahead of a health care securities fraud trial, but his own lawyer said not to believe everything his client says on social media.

  • June 19, 2017

    Puerto Rico Creditors Rip Board's Plan To Solve Bond Conflict

    The federally appointed board overseeing Puerto Rico's restructuring is facing heat over its proposal to appoint independent agents to resolve competing claims over the territory’s sales tax revenues, as bondholders and insurers complained Friday that the agent selection process is flawed.

  • June 19, 2017

    Valeant Tries To Zap Claims In 4 Securities Fraud Suits

    Valeant Pharmaceuticals International Inc. on Friday asked a New Jersey federal court to pare four securities fraud suits brought against it by institutional investors, arguing that some of the investors’ claims are too broad or are backed up with inappropriately generic allegations.

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.