Asset Management

  • July 9, 2014

    Harbinger Hits Dish, Ergen With $1.5B Suit Over LightSquared

    Harbinger Capital Partners LLC on Tuesday sued Dish Network Corp. and its chairman, Charles Ergen, for allegedly wresting away the hedge fund's control over bankrupt startup LightSquared Inc., asking for at least $1.5 billion in damages.

  • July 8, 2014

    Ameriprise Hit With Sanctions In $20M 401(k) Plan Suit

    A Minnesota federal judge on Tuesday ordered Ameriprise Financial Inc. to divulge full notes from a top executive, partially siding with class action plaintiffs alleging the company violated discovery orders to conceal evidence that Ameriprise favored underperforming funds in its 401(k) plan.

  • July 8, 2014

    Bankrupt Revstone Subsidiaries Submit Ch. 11 Plans

    Two subsidiaries of auto parts conglomerate Revstone Industries LLC filed reorganization plans in Delaware bankruptcy court Monday, further positioning the parent company to exit Chapter 11.

  • July 8, 2014

    Nontraded REITs Find Ample Options In Liquidity Search

    Many of the nontraded real estate investment trusts that are embarking on the required searches for liquidity that come roughly five years after their formation have aggressively been buying up properties since the downturn, and lawyers are helping such REITs make sense of a welcomed set of attractive exit options that is broader than what their peers have seen in recent years.

  • July 8, 2014

    Jurors Say US Fixated On Raj During Kid Brother's Trial

    Some jurors in the insider trading trial of Rengan Rajaratnam said after acquitting the former Galleon Group LLC manager Tuesday that prosecutors offered flimsy evidence and focused too heavily on the defendant's older brother, convicted Galleon founder Raj Rajaratnam.

  • July 8, 2014

    Argentina Says High Court Ruling Isn't Win for NML Capital

    The Republic of Argentina told the Ninth Circuit on Monday that NML Capital Ltd. is overstating a U.S. Supreme Court ruling allowing discovery for assets held by a foreign sovereign debtor, arguing against a lower court ruling that the country has to pay $1.4 billion to the hedge fund.

  • July 8, 2014

    'The Big Short' Money Manager Fights SEC Claims

    An investment adviser accused of fraud after his appearance in Michael Lewis’ book “The Big Short” has asked a U.S. Securities and Exchange Commission judge to drop charges against him, saying the agency has not proved he misled investors in a collateralized debt obligation his firm assembled before the financial crisis.

  • July 8, 2014

    Harbinger Again Dodges Class Claims In LightSquared Suit

    A New York federal judge won't revive state-law class claims against hedge fund Harbinger Capital Partners LLC over its $3 billion investment in doomed startup LightSquared Inc., saying Tuesday that an exception outlined by the U.S. Supreme Court in February can't redeem the claims.

  • July 8, 2014

    Troutman Sanders Nabs RE, M&A Partner In Shanghai

    Troutman Sanders LLP has snagged a former Baker & McKenzie LLP special counsel — who has historically focused on capital markets, transactions, cross-border investments, private equity and mergers and acquisitions — to join the firm's corporate practice at its office in Shanghai.

  • July 8, 2014

    US Backs Broad View Of Liability In Omnicare Investor Row

    The Obama administration has come out in support of a ruling that revived a class action claiming Omnicare Inc. artificially inflated its stock price, telling the U.S. Supreme Court that executives can be held responsible for statements made to investors that are later found to be false, even if those opinions were sincerely held.

  • July 8, 2014

    Premier Law Firms Making Bank In Valeant-Allergan Battle

    Valeant Pharmaceuticals International Inc. and Bill Ackman have gone full-throttle in their dogged pursuit of Allergan Inc., but while an official winner has yet to rise from the turbulent $53 billion buyout fight, some victors are already clear: the law firms representing the parties.

  • July 8, 2014

    Ex-Greenberg Traurig Litigation Co-Chairs Join DLA Piper

    The former co-chairmen of Greenberg Traurig LLP's litigation practice in Chicago have disembarked to join DLA Piper as litigation partners, bringing with them experience in white collar, bankruptcy, private equity and acquisition-related disputes.

  • July 8, 2014

    Deals Rumor Mill: Barclays, North Star Realty, SSP

    Barclays is examining a sale of its natural resource-focused private equity unit, while North Star Realty Finance is coming closer to bidding on rival Griffin-American Healthcare REIT II.

  • July 8, 2014

    5 Insights From Home Depot GC Teresa Roseborough

    As a Fortune 50 company, we have to keep a close eye on a host of legal and regulatory developments. In particular though, we’ve been very actively working with other retailers and retail associations to provide a framework for taxation of pure play "e-tailers" that mirrors that of brick-and-mortar retailers, says Teresa Wynn Roseborough, general counsel of The Home Depot Inc.

  • July 8, 2014

    Alternative Mutual Funds In SEC Spotlight As Sweep Looms

    Ahead of a sweep exam of so-called alternative mutual funds, the chief of the U.S. Securities and Exchange Commission’s investment management division laid out concerns and recommendations around these products in a recent speech, indicating where examiners will focus as they start inspections.

  • July 8, 2014

    Raj Brother Cleared In 1st Insider Trading Loss For Bharara

    A New York federal jury on Tuesday acquitted former Galleon Group LLC manager Rengan Rajaratnam of insider trading conspiracy, ending Manhattan U.S. Attorney Preet Bharara's perfect record in stock-tipping cases.

  • July 8, 2014

    Dechert Hooks Two Partners For London, Luxembourg Offices

    Dechert LLP has snagged two lawyers from London-based firm Olswang LLP and Rotterdam-based firm Loyens & Loeff NV  to bolster its financial services and real estate finance practices in two of its European offices.

  • July 8, 2014

    Major PetSmart Investor Joins Shareholder Push For Sale

    Chicago-based Longview Asset Management LLC on Monday joined New York hedge fund Jana Partners LLC in pushing for PetSmart Inc. to consider selling itself as the pet products retailer faces increasing pressure to boost shareholder value.

  • July 8, 2014

    Standard General Confirms Talks With American Apparel

    New York hedge fund Standard General LP confirmed in a U.S. Securities and Exchange Commission filing on Tuesday that it's negotiating with American Apparel Inc. about assisting it with a loan, buying its stock and controlling its reorganization as the California-based apparel company finalizes the ouster of controversial founder Dov Charney as CEO.

  • July 7, 2014

    Madoff Ruling Blocks Risky Expansion Of US Bankruptcy Law

    U.S. District Judge Jed Rakoff’s Monday decision to save foreign investment funds from disgorging earnings from the Bernard L. Madoff fraud rejected an unprecedented attempt to expand U.S. bankruptcy law across borders and ensured that international investors have little to fear from defunct U.S. firms’ liquidating trustees, attorneys say.