AHS Residential has reportedly sold a Florida apartment complex that includes retail space for $38 million, Fisher Brothers is said to have leased out nearly 30,000 square feet in New York to One William Street Capital Management, and Bill Ussery Motors has reportedly paid nearly $11 million for a Florida office building.
A former Jefferies LLC metals trader didn't do enough to maintain a suit alleging his supervisor encouraged him to pursue trades the firm wouldn't approve, which then led to his firing, the Seventh Circuit held Thursday.
Airport services company Swissport could be worth more than $3 billion in a sale, multiple suitors are vying for Kimberly-Clark’s multibillion-dollar European tissue business, and Blackstone is nearing a deal to buy Britain-based NEC Group.
Billy McFarland, a young entrepreneur who caught the FBI's attention when his ill-fated Fyre Festival left concertgoers stranded on a remote island, was sentenced to six years in prison on Thursday — far less than the government sought — by a judge who called him a "serial fraudster," and also ordered to pay a $26 million forfeiture.
The U.S. Securities and Exchange Commission has blocked an upcoming initial coin offering after alleging in California federal court that the company behind it falsely claimed it received regulatory approval from not only the SEC but also a fictitious agency called the Blockchain Exchange Commission.
The North Carolina federal judge overseeing an Employee Retirement Income Security Act class action against Duke University on Wednesday said she will keep her eye on a similar case against Johns Hopkins University, rejecting the class's argument that the other case isn't relevant.
Catalina Holdings (Bermuda) Ltd., which acquires and manages non-life insurance and reinsurance companies, on Thursday said Apollo Global Management affiliates have become majority shareholders in the company and have committed $700 million in new equity capital.
A former Florida attorney who was apprehended in Mexico this summer pled guilty in federal court on Wednesday to a fraud charge related to his role in an investment scheme that duped 770 investors out of more than $21 million.
A Ninth Circuit panel pushed back Wednesday against the federal government’s argument that an ex-hedge fund manager jailed for a multi-million-dollar fraud scheme was also rightly convicted for aggravated identity theft, with judges calling a prosecutor’s argument “circular,” “backward,” and “maybe upside down.”
A South Carolina federal judge granted class action status Tuesday to a former Wells Fargo financial adviser’s suit alleging the bank improperly cut him and other employees out of deferred compensation they were owed under a retirement benefits plan.
A Swedish investment firm Wednesday accused Teva Pharmaceuticals in Connecticut federal court of lying to shareholders about an alleged scheme to pump up its share prices through a series of unsustainable price hikes that ultimately resulted in a spate of antitrust suits and the collapse of its market value.
The Massachusetts Institute of Technology argued in Boston federal court Wednesday that employees who allege the university mishandled its retirement fund do not have grounds for class certification because of their conflicting claims about how they were harmed.
A New Jersey federal judge on Wednesday tossed a lawsuit against Alcatel-Lucent from two unions and four onetime company employees over its combined transfer of roughly $1.2 billion and thousands of members between pension plans, finding that the plaintiffs lacked standing and did not state viable claims under the Employee Retirement Income Security Act.
A Florida federal judge denied Raymond James’ bid to toss a putative class action alleging the financial services company charges unauthorized commissions via a “processing fee,” rejecting the company's argument that the payments are unrecoverable because they were made voluntarily.
Twelve law firms submitted bids in California federal court on Tuesday asking that nine securities class actions — filed against Tesla Inc. and CEO Elon Musk over his tweets about taking the company private — be consolidated and to be appointed as lead counsel.
Real estate investment trust Alexandria Real Estate Equities has reportedly paid $75 million for a Long Island City property, Atlantic Pacific Communities is said to have bought part of a Florida apartment complex that's worth $22.59 million, and Fidelity National Title Insurance has reportedly renewed its roughly 27,000-square-foot New York lease.
Federal prosecutors in Delaware reported an agreement Wednesday to scale back initial life sentence recommendations for four Wilmington Trust Corp. executives convicted of an estimated $196 million securities fraud in May, opting instead to seek prison terms topping out at 11¼ years.
The Hong Kong Securities and Futures Commission is penalizing investment banks that fail to uphold standards when sponsoring initial public offerings, the agency’s enforcement director said Wednesday, and is promising additional disciplinary action until regulators see improvement.
Participants in an American Airlines retirement plan on Tuesday responded to a Texas federal judge’s concerns about their bid to certify a class of more than 20,000 members, saying that their Employee Retirement Income Security Act suit simply seeks to recover plan losses that resulted from the carrier’s alleged fiduciary breaches.
Labaton Sucharow LLP has apologized and will pay $4.8 million and accept oversight by a retired judge to resolve a Massachusetts federal court’s investigation into the firm's excess fees and a controversial payment to a Texas lawyer, according to Wednesday court filings.
The Third Circuit's decision last month in Reading Health System v. Bear Stearns adds to a circuit split on whether a contractual forum-selection clause supersedes or waives Financial Industry Regulatory Authority arbitration. However, U.S. Supreme Court review of the issue might be premature, says David Cinotti of Pashman Stein Walder Hayden PC.
In a new, extraordinary book, "Tough Cases: Judges Tell the Stories of Some of the Hardest Decisions They’ve Ever Made," 13 of my judicial brethren have courageously and dramatically humanized the judicial process, says U.S. District Judge Frederic Block of the Eastern District of New York.
In two recently released revenue procedures, the IRS provided repatriation tax relief for registered investment companies and defined categories of foreign income for real estate investment trusts. Attorneys at Proskauer Rose LLP break down the significant effects.
Much time and attention have been focused on improving lawyers' abilities to communicate with and persuade juries in complex trials. But it is equally important to equip and prepare jurors to become better students in the courtroom, say attorneys with DLA Piper and Litstrat Inc.
While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.
With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.
I have spent nearly 10 years fighting in court for the rights of Lehman Brothers’ creditors. This arduous legal journey has yielded insights into weaknesses in our financial system and bankruptcy laws that could allow catastrophic losses to happen again, says Andrew Rossman of Quinn Emanuel Urquhart & Sullivan LLP.
In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.
Courts in the British Virgin Islands have mostly resisted the temptation to appoint liquidators in soft wind-downs. However, a recent decision in Delco Participation v. Green Elite has opened the door to more "just and equitable" liquidation petitions, say Andrew Willins and Eliot Simpson of Appleby.
There has been a dip in the number of enforcement actions from the U.S. Securities and Exchange Commission during Chairman Jay Clayton’s tenure, but this decline does not tell the whole story. The commission is still bringing a historically high volume of actions — they just happen to be in slightly different areas, says Kurt Wolfe of Troutman Sanders LLP.