Sovran Self Storage Inc. has purchased four self storage properties in New York and Connecticut from Florida developer Arredondo Holdings for $120 million, the real estate investment trust announced on Wednesday.
The U.S. Securities and Exchange Commission on Wednesday told a former hedge fund manager charged in April with defrauding investors that he couldn't go back to work for one of his prior employers, a registered investment adviser.
U.S. financial regulators on Wednesday adopted a series of reforms aimed at increasing the transparency in its process for designating insurance companies and other nonbank firms as systemically important, and placing them under heightened regulatory supervision.
Canadian province Ontario on Wednesday said its government has sold its remaining shares of General Motors, earning CA$1.1 billion ($885 million) from a crisis-era investment that helped bail out the automaker, promising to spend profits on upgrading public infrastructure.
Toyota Motor Co. is reportedly considering super-sizing its new $350 million campus in Texas, while Norges Bank Investment Management is rumored to be buying a stake in a Manhattan office tower and Wisconsin lawmakers may shave down a bond plan for the Milwaukee Bucks’ $520 million arena.
Paul Weiss Rifkind Wharton & Garrison LLP has hired the New York federal prosecutor who helped take down Goldman Sachs Group Inc.’s Rajat Gupta to bolster its litigation practice, focusing on white collar criminal defense, cybercrime, government investigations and high-stakes litigation, the firm said Wednesday.
Federal authorities are investigating UBS AG for potentially helping Americans evading taxes through so-called “bearer securities” mostly prohibited in the U.S., about six years after the Swiss banking giant paid $780 million to resolve a similar international-tax dispute, according to a Wednesday report.
Two top U.S. securities officials on Wednesday voiced their disapproval of the U.S. Securities and Exchange Commission’s recent decision not to disqualify Oppenheimer & Co. Inc. from conducting private capital-raising deals despite a long history of violations, saying the public deserves better.
Caesars Entertainment Corp. is replacing CEO Gary Loveman with former Hertz Global Holdings Inc. head Mark Frissora in a management change that will be made official July 1, the company told investors Wednesday, weeks after placing its biggest unit in bankruptcy.
After nearly 30 years of silence, the U.S. Securities and Exchange Commission last month updated its guidance on tender offers for debt securities. The spark for the no-action letter, which grew to incorporate advice from dozens of lawyers, issuers and investors, was ignited by a frustrated group of investors caught on the short end of a takeover deal.
JPMorgan Chase & Co. asked a Minnesota federal judge on Tuesday to toss a complaint brought by hedge funds alleging the bank and others aided and abetted disgraced businessman Thomas Petters’ $3.7 billion Ponzi scheme, saying the claims were time-barred and voided by related bankruptcy litigation.
A New York federal judge on Wednesday rejected a financial adviser's bid to halt discovery in suits brought by Citibank and singer-songwriter Ne-Yo, who claims he was fraudulently induced to invest $2.5 million in sports beverage maker OXYwater, saying a criminal probe should not stall the proceedings.
The Financial Industry Regulatory Authority on Wednesday said its governing board will soon consider plans to speed up the release of information about when registered representatives are terminated from their jobs, as well as potential new rules around how securities are sold on military bases.
Holland & Knight LLP advised Mexican real estate investment trust Fibra UNO’s 10 billion peso ($689 million) bond issuance Tuesday on the Mexican Stock Exchange, part of the REIT’s inaugural debt program designed to help finance its growth.
Staples Inc. and Office Depot Inc. became the latest companies to unveil a multibillion-dollar shakeup plan that mirrors a proposal from fast-rising activist investor Starboard Value LP. In each case, the companies took pains to clarifty they set the move in motion before the fund got involved — but that doesn't mean Starboard is without a role.
U.S. Bank NA will cough up $18 million for futures customers victimized by former Peregrine Financial Group Inc. CEO Russell Wasendorf Sr.’s $215 million embezzlement, putting the Commodity Futures Trading Commission’s accusations of complicity against the bank to rest.
The International Swaps and Derivatives Association on Tuesday released four briefs filed on both sides of the question of whether Caesars Entertainment Operating Co. triggered some $1.7 billion in credit-default swaps by failing to pay junior bondholders in December.
Hotel developer HEI Investments LLC has claimed in a federal suit that it was bilked into investing $2 million with New Jersey hedge fund Black Diamond Capital Appreciation Fund LP, in exchange for $9 million in financing for a Georgia hotel project that never came through.
The U.S. Securities Exchange Commission on Wednesday sanctioned investment advisers accused of falsely listing their places of business in Wyoming to give the appearance of controlling more assets than they actually did with rarely used offices.
A United Arab Emirates developer reportedly pitched a $2.6 billion ski resort near Sarajevo, Bosnia-Herzegovina, while a Related Cos. unit is reportedly planning several Chicago apartment towers, and Tishman Speyer may sell a $570 million German tower it just completed.