Asset Management

  • September 25, 2014

    Lawyer Who Deleted Emails In Copyright Suit Owes Attys' Fees

    A New York federal judge on Wednesday ordered an attorney and two of his businesses to pay $366,100 in fees and expenses to an investor consultant company in a copyright dispute, having previously found that the lawyer had deleted a trove of emails that were relevant to the case.

  • September 25, 2014

    US Bank Can't Escape Dual Peregrine Class Actions

    An Illinois federal judge on Thursday narrowed two class actions alleging U.S. Bank NA facilitated the $200 million theft of customer funds at now-bankrupt futures merchant Peregrine Financial Group Inc., leaving certain claims from commodity brokers and account holders intact.

  • September 25, 2014

    Prudential To Take On $3B In Motorola Pension Obligations

    Prudential Financial Inc. will assume $3 billion in pension obligations for some 30,000 Motorola Solutions Inc. salaried retirees through an agreement Thursday, the third-largest pension buyout on record after similar deals with General Motors Co. and Verizon Communications Inc.

  • September 25, 2014

    CFTC Accuses Former Trader Of $1.2M Swap Fraud

    The U.S. Commodity Futures Trading Commission filed suit Wednesday alleging a former swap dealer and risk management consultant for INTL FC Stone Inc. committed fraud and unauthorized trading that cost a customer, and eventually the firm, $1.2 million.

  • September 25, 2014

    SEC Suspends 9 Cos. In Microcap Fraud Crackdown

    The U.S. Securities and Exchange Commission has suspended trading in nine penny stock companies that may have misreported their financial information, as part of the agency's ongoing crackdown on microcap fraud, the SEC announced on Thursday.

  • September 25, 2014

    Auditor Wants Pa. Pension Funds To Rethink Hedge Funds

    Pennsylvania Auditor General Eugene DePasquale urged leaders of the state’s two largest pension funds on Wednesday to reconsider their combined $7.6 billion tied up in hedge funds following decision by the nation’s largest pension fund in California to pull its investments.

  • September 25, 2014

    CFTC Finalizes Swaps Rule Fix For Public Utilities

    The U.S. Commodity Futures Trading Commission has finalized a new exemption to its swaps rules, under which swaps with public utilities would not count toward a tight $25 million threshold above which swaps participants must be fully regulated as dealers.

  • September 25, 2014

    Freshfields Reps GIC In RAC Co-Investment With Carlyle

    Freshfields Bruckhaus Deringer LLP represented Singaporean sovereign wealth fund GIC in its purchase from The Carlyle Group LP of a stake in the U.K.'s second-largest roadside assistance company, RAC Ltd., as RAC shelved plans for an initial public offering for now, Carlyle said Thursday.

  • September 25, 2014

    Aussie Watchdog OKs $1.2B Goodman Fielder Purchase

    The Australian Competition and Consumer Commission said Thursday that it will allow Wilmar International Ltd. and First Pacific's AU$1.3 billion ($1.2 billion) acquisition of Crisco maker Goodman Fielder Ltd., saying the deal is not likely to harm competition or raise consumer prices.

  • September 25, 2014

    Starboard Picks For Darden Board Gain Two More Allies

    The top two proxy advisers on Thursday endorsed Starboard Value LP's plan to wipe out the entire board of Olive Garden parent Darden Restaurants Inc., a coup for the activist investor ahead of a much-anticipated shareholder vote scheduled for next month.

  • September 25, 2014

    Allergan Snubs Valeant's Olive Branch, Hints At Other Deal

    Allergan Inc. on Thursday swatted down requests to meet Valeant Pharmaceuticals International Inc. at the bargaining table to discuss the company's hostile $53 billion bid, and gave its strongest public indication yet that an alternative transaction could be in the offing.

  • September 24, 2014

    US To Pay Navajo $554M In Largest Single-Tribe Settlement

    The United States has agreed to pay the Navajo Nation $554 million as part of the largest settlement of its kind to resolve the tribe’s lawsuit alleging federal mismanagement of tribal trust funds and lands used for farming and oil and gas extraction, the Navajo Nation confirmed on Wednesday.

  • September 24, 2014

    BNP Asks For Sentencing Delay Until DOL Determines Status

    A lawyer for BNP Paribas SA has asked a New York federal judge to postpone sentencing the French bank following its guilty plea for sanction violations, saying it first needs to see whether the U.S. Department of Labor will grant an exemption allowing the bank to remain a qualified asset manager upon sentencing.

  • September 24, 2014

    REIT Drops $210M On Data, Healthcare Assets

    Carter Validus Mission Critical real estate investment trust recently spent more than $210 million picking up a data center and healthcare properties in more than half a dozen states, from Texas to Louisiana to Rhode Island, the Florida-based REIT announced Wednesday.

  • September 24, 2014

    Morgan Keegan Bondholders Get Class Cert.

    A federal judge has certified a class of bondholders who say Morgan Keegan & Co. Inc. misrepresented the health of $39 million in municipal bonds issued by a Missouri town to fund a now-failed sucralose plant, rejecting an argument that out-of-state investors couldn't sue under a Missouri state law.

  • September 24, 2014

    Bob Evans Has Attracted Potential Buyers, Sandell Reveals

    Shareholder activist firm Sandell Asset Management Corp. revealed Wednesday that it has been approached by several companies — including private equity — interested in buying up part or all of restaurant and consumer foods company Bob Evans Farms Inc.

  • September 24, 2014

    CFTC Commissioner Warns Of 'Trade War' Over Swaps

    A member of the U.S. Commodity Futures Trading Commission on Wednesday urged the international derivatives community to avoid a “trade war” over swaps market clearing and execution, scolding both U.S. and European regulators for creating policies he said have destroyed liquidity and fragmented the global swaps markets.

  • September 24, 2014

    Pimco ETF Returns Draw SEC Probe

    The Pacific Investment Management Co. LLC is under investigation by the U.S. Securities and Exchange Commission as to whether it inflated the returns of an exchange-traded fund that mirrors the flagship bond fund run by the firm’s founder William H. Gross, according to news reports.

  • September 24, 2014

    Ind. Toll Road Operator Floats Deal With State Amid Ch. 11

    The private operator of the $3.8 billion Indiana Toll Road on Tuesday sought an Illinois bankruptcy court's approval of an agreement with the Indiana Finance Authority that will allow it to continue operating the road uninterrupted during its Chapter 11 restructuring.

  • September 24, 2014

    CalPERS Attacks Atty Fees In HP's Autonomy Settlement

    The California Public Employees' Retirement System has joined a chorus of voices urging rejection of a deal between HP and its investors that would focus blame for the disastrous $11.1 billion acquisition of Autonomy Corp. on the target company, saying the settlement leaves room for a surprise on attorneys' fees.