The Financial Industry Regulatory Authority sent Wall Street on an unpleasant trip down memory lane last week when it sanctioned 10 banks for breaking research analyst rules put in place after a scandal a decade ago, but some attorneys say the enforcement actions go beyond what many thought were the rules of the road.
Restructuring professionals charged with finding a way forward for Puerto Rico’s hopelessly indebted electric utility reported progress Tuesday on new revenue-boosting measures connected to a creditor agreement that staves off defaults until the spring.
Gary Barnett, the director of the U.S. Commodity Futures Trading Commission’s swap dealer and intermediary oversight division, will be leaving the agency in January to take on a senior position at the U.S. Securities and Exchange Commission, the CFTC announced Tuesday.
The U.S. Securities and Exchange Commission on Tuesday filed charges in administrative court against a Phoenix-based equity research firm owner who allegedly manipulated the market for a publicly traded stock he was soliciting investors to buy.
Woodford Investment Management LLP, a sizable minority investor in BT PLC, on Tuesday aligned itself with the deal-hungry cable provider's $19.6 billion push to acquire U.K. mobile phone operator EE Ltd., saying the tie-up makes plenty of strategic sense.
The Financial Industry Regulatory Authority on Tuesday said it has fined Merrill Lynch Pierce Fenner & Smith Inc. $1.9 million and ordered it to pay more than $541,000 in restitution after Merrill Lynch bought up distressed debt of the then-bankrupt General Motors Corp. from retail customers at unfairly discounted prices.
Talisman Energy Inc., under activist pressure to restructure, said Tuesday it would sell itself to Spanish oil giant Repsol SA in a much-anticipated $13 billion deal that could be the beginning of a new wave of deal-making in the sputtering oil sector.
The U.S. Securities and Exchange Commission on Monday moved to dismiss insider trading charges against a man accused of using tips to illegally profit from the $1 billion short sale of Herbalife Ltd. by activist investor Bill Ackman, saying that “critical witnesses” were unavailable to testify.
Caesars Entertainment Corp. elected Monday not to make a scheduled $225 million interest payment to junior bondholders, putting a clock on the overleveraged casino operator to sew up a restructuring deal before its biggest unit defaults.
A New York federal judge on Monday ruled against two hedge funds that sued to stop Education Management Corp. from executing a restructuring plan that extinguishes $1.1 billion in debt and turns creditors of the for-profit education company into shareholders.
JoAnn Crupi, who worked at Bernie Madoff's crooked firm for 25 years until its 2008 collapse, was sentenced to six years in prison Monday for crimes of greed, including tax and securities fraud, but a federal judge said she did not know her former boss was running a Ponzi scheme.
Segro PLC has sold six industrial properties in the southeast United Kingdom to real estate investment management firm Orchard Street Investment Management LLP for £113.8 million ($177.9 million), London-based Segro announced on Monday.
Real estate investment manager American Realty Advisors is actively looking to reach foreign investors, but doing so is complicated by evolving rules and regulations in the European Union, Kristin Adrian, the firm’s general counsel and chief compliance officer, told Law360 in a recent interview.
A Canadian securities watchdog on Monday reminded Canadian investment dealers to avoid routing trades to certain so-called off-marketplace U.S. broker dealers and promised price discovery improvements as the country looks to make its markets more appealing to its traders.
Tweaks to Jana Partners LLC's investment approach meant to capitalize on a surge in shareholder activism paid off yet again this week when PetSmart Inc. agreed to go private in the biggest leveraged buyout of the year — the second marquee deal advanced by the hedge fund in 2014.
Gibson Dunn has landed a second partner this month from Kirkland & Ellis LLP with the addition of a finance attorney as part of the continued expansion of its London office, the firm said Friday.
An overall increase in deal-making and bolder plays brought the value of failed mergers and acquisitions this year to a high mark untouched since 2008, underpinned by a handful of blockbuster transactions that could have ranked among the year's biggest deals. Here, Law360 runs down five high-profile collapses that rocked the red-hot M&A marketplace in 2014.
Riverbed Technology Inc. on Monday agreed to go private in a $3.6 billion sale to private equity firm Thoma Bravo LLC, the second big-ticket buyout in as many days driven mainly by pressure from an activist investor.
Canadian oil and gas outfit Bellatrix Exploration Ltd. on Monday unveiled a settlement that will give Orange Capital LLC a seat on its board in exchange for the activist hedge fund dropping its push for a strategic shakeup.
The U.S. Senate on Saturday passed a $1.1 trillion omnibus spending bill for 2015, averting a government shutdown despite significant pushback against a contentious measure repealing much of the Dodd-Frank Act’s “swaps push-out” rule.