Asset Management

  • January 4, 2018

    Mo. Businessman Cops To Bank-Busting Fraud Ahead Of Trial

    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.

  • January 4, 2018

    Norton Rose Snags Baker McKenzie M&A Atty In Houston

    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.

  • January 4, 2018

    Finance Co. Hit With 2 Investor Stock-Drop Actions

    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.

  • January 4, 2018

    State Regulators Warn Public On Cryptocurrencies, ICOs

    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.

  • January 4, 2018

    Ex-Hedge Fund Exec Ordered To Pay $4M For Securities Fraud

    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.

  • January 4, 2018

    Apollo, Varde Snag Fortress' OneMain Stake In $1.4B Deal

    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.

  • January 3, 2018

    Fraud Questions Linger In Woodbridge Ch. 11 Trustee Fight

    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.

  • January 3, 2018

    Hedge Fund Blasts Defense Of Puerto Rico Restructuring Law

    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."

  • January 3, 2018

    McDermott Adds Ex-SEC Enforcement Atty To Chicago Office

    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.

  • January 3, 2018

    Ex-ConvergEx Manager Settles SEC Fraud Suit With $1M Deal

    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.

  • January 3, 2018

    Ex-Merrill Lynch Manager Loses Mormon Bias Appeal

    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.

  • January 3, 2018

    Deals Rumor Mill: Spotify, RBS, J&T Finance

    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.

  • January 3, 2018

    Former Och-Ziff Exec Charged With Investment Fraud

    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.

  • January 3, 2018

    Alissa Starzak Talks Net Neutrality, US Army, Leap To Startup

    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.

  • January 3, 2018

    Stanford Workers Tell 5th Circ. Underwriters Were Let Off Easy

    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.

  • January 3, 2018

    Ackman's Pershing Square To Trim Stake In Howard Hughes

    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.

  • January 3, 2018

    Harrison Street Sells Student Housing Portfolio For $1B

    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.

  • January 3, 2018

    Petrobras To Pay Nearly $3B To End Securities Class Action

    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.

  • January 2, 2018

    Pershing, Valeant Agree To $290M Deal Ending Allergan Suits

    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.

  • January 2, 2018

    Ex-Katten Atty Conviction A Cautionary BigLaw Tale

    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.

Expert Analysis

  • Series

    40 Years Of FCPA: Cross-Border Efforts And Growing Risk

    Patrick Stokes

    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.

  • International ICOs May Not Be Safe From The SEC

    John Reed Stark.jpeg

    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.

  • Series

    Judging A Book: Cooke Reviews 'Constance Baker Motley'

    Judge Marcia Cooke

    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.

  • Keeping Your Law Library Relevant In The Age Of Google

    Donna Terjesen

    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.

  • 6 Things You Need To Know About Millennial Jurors

    Zachary Martin

    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.

  • Series

    40 Years Of FCPA: A View From The Monitorship Trenches

    Gil Soffer

    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.

  • Another Page In The Issuer-Bondholder Playbook

    Adam Summers

    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.

  • Key Tax Considerations For High Net Worth Family Offices

    Stephen Ziobrowski

    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 Trump Administration’s Move Against SEC Judges

    Daniel Walfish

    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.

  • Series

    40 Years Of FCPA: The Untold Story Of The Resource Guide

    Charles Duross

    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.