Asset Management

  • February 8, 2017

    DRA Advisors Pays Cabot $1.1B For Industrial Portfolio

    DRA Advisors LLC has picked up a nearly 20-million-square-foot industrial portfolio that includes properties in Texas and Illinois from private equity shop Cabot Properties Inc. for $1.07 billion, according to an announcement from the companies on Tuesday.

  • February 8, 2017

    Groups Sue To Block Trump’s 2-For-1 Regulatory Order

    Public interest legal groups on Wednesday sued the Trump administration, alleging a January executive order mandating that executive agencies eliminate two regulations for every new one is “irrational” and puts public safety at risk by not considering any beneficial effects of new rules.

  • February 8, 2017

    Starwood Deal Pushes 4 Firms To Top Jan. Real Estate M&A

    Four law firms each handled upward of $3 billion in real estate mergers and acquisitions value in January thanks to their work on the Starwood-Milestone REIT deal, easily beating out their competitors, all of whom came in below $1 billion in deal value.

  • February 7, 2017

    Starboard Settlement Adds Fresh Faces To Perrigo's Board

    Perrigo revealed Tuesday that it will swap out five of its directors for new members picked by Starboard as part of a settlement with the activist hedge fund, which has been pressuring the over-the-counter consumer goods and pharmaceutical company to turn around a steady decline in its stock price.

  • February 7, 2017

    SEC Bars Real Estate Investor Over His $20M Fee

    The U.S. Securities and Exchange Commission hit California real estate investment pro Scott M. Landress with a permanent securities industry bar and a $1.25 million penalty Tuesday for improperly withdrawing a fee of more than $20 million from two U.K.-focused private equity funds.

  • February 7, 2017

    Real Estate Rumors: Henderson, Adam Leitman Bailey, KPMG

    Henderson Land Development is said to be selling a Hong Kong hotel for roughly $296 million, law firm Adam Leitman Bailey has reportedly subleased 26,000 square feet in Manhattan, and KPMG is said to have leased nearly 20,000 additional square feet in New York from SL Green.

  • February 7, 2017

    Simpson Thacher Lands Ex-SEC Unit Chief

    A former Enforcement Division unit chief at the U.S. Securities and Exchange Commission returned to private practice, joining Simpson Thacher & Bartlett LLP as a partner after helping steer the agency through uncharted, post-financial-crisis territory.

  • February 7, 2017

    Investors Blast Snap's Plan To Offer Non-Voting Shares

    A group of institutional investors have asked Snap Inc. to reconsider its plan to sell only non-voting shares as part of its $3 billion initial public offering, saying the two-class system could harm the stock’s value and undermine public confidence in the market.

  • February 7, 2017

    Sens. Ask CFTC To Account For IT, Whistleblower Lapses

    Members of the Senate Judiciary Committee and Agriculture, Nutrition and Forestry Committee sought assurances Monday from the U.S. Commodity Futures Trading Commission that it is dealing with information technology security and protecting whistleblowers, after a report revealed systemic weaknesses and retaliation.

  • February 7, 2017

    1st Circ. Affirms Conviction In Fake Hedge Fund Scam

    The First Circuit on Monday rejected the appeal of a Massachusetts investment adviser sentenced to seven years in prison for a $1.3 million fake hedge fund scheme, saying that the court’s jury instructions and sentencing were both sound.

  • February 7, 2017

    Convicted Ex-JPMorgan Trader Seeks 4 Years' Probation

    A former JPMorgan Chase & Co. investment banker convicted for leaking information about health care company mergers to his father urged a Manhattan federal judge on Monday to sentence him to four years’ probation, citing parental duties in regard to his son.

  • February 6, 2017

    Late Changes To Fiduciary Rule Memo Sow Confusion

    President Donald Trump’s long-awaited directive on the U.S. Department of Labor’s fiduciary rule surprised the financial industry Friday when it failed to include an expected provision calling for a delay, leaving retirement account advisers still struggling to determine when, if ever, they will need to comply with the controversial mandate.

  • February 6, 2017

    Ex-Financial Adviser To Pro Athletes Cops To Stealing $1M

    The former president of an investment firm tailored to athletes pled guilty in D.C. federal court Monday to wire fraud after admitting to stealing more than $1 million from his clients, including boxer Mike Tyson and former professional basketball player Glen Rice, according to a U.S. Department of Justice press release.

  • February 6, 2017

    2 Sentenced For $250M Offshore Pump-And-Dump, Tax Dodge

    A Brooklyn federal judge hit a man who set up companies that facilitated a $250 million offshore stock fraud, capital gains tax-dodging and money laundering operation with six years in prison on Monday, hours after sentencing one of the ripoff artists to a 12-year term.

  • February 6, 2017

    Investment Co. Sued Over Alleged 'Hamilton' Ponzi Scheme

    An investor who funneled cash into the alleged $81 million Ponzi scheme that promised strong profits from reselling tickets to the smash Broadway musical “Hamilton” accused a broker-dealer in New York federal court on Monday of misleading him into thinking the investment was a “no-brainer.”

  • February 6, 2017

    Jefferies Sues To Halt FINRA Arbitration Over Stock Drop

    The Jefferies Group investment bank is arguing that shareholders who bought stock in a since-failed biotech company because of the firm’s recommendation cannot force it into arbitration before the Financial Industry Regulatory Authority over the stock's loss of value, according to a suit filed Friday in Texas federal court.

  • February 6, 2017

    Cohen Milstein Brings Aboard Ex-NJ Securities Chief

    Cohen Milstein Sellers & Toll PLLC has nabbed New Jersey’s former securities regulation chief as a partner in its securities litigation and investor protection group, the Washington, D.C.-based plaintiffs-side firm said Monday.

  • February 6, 2017

    Ex-Execs Fight Discovery Freeze In $1B Platinum Fraud Suit

    The ex-CEO of defunct offshore driller Black Elk and former Platinum Partners executives facing parallel civil and criminal cases over their alleged roles in a $1 billion securities fraud scheme told a New York federal court on Friday to reject the government’s proposed “blanket and indefinite” discovery freeze in the civil case.

  • February 6, 2017

    Piwowar Orders SEC To Reconsider Pay Ratio Rules

    Acting U.S. Securities and Exchange Commission Chair Michael S. Piwowar directed the agency’s staff to reconsider implementing a rule requiring public companies to disclose the pay gap between their chief executive and their typical worker and sought input on difficulties companies are experiencing in implementing the rule.

  • February 6, 2017

    10th Circ. Reassigns Fraud Suit From Outspoken Judge

    The Tenth Circuit has reassigned a real estate securities fraud case from a Colorado federal judge who handed down an erroneously high sentence for the second time and opined that Americans "do not take white collar crime seriously enough."

Expert Analysis

  • The Need For A Limitations Period On SEC Disgorgement Claims

    Daniel McCaughey

    The U.S. Supreme Court recently granted certiorari in U.S. Securities and Exchange Commission v. Kokesh to review whether civil enforcement claims brought by the SEC for the remedy of disgorgement are subject to any statute of limitations. Attorneys with Ropes & Gray LLP examine the significance of the statute of limitations question, especially for private equity firms.

  • Attracting And Retaining The Millennial Lawyer

    Christopher Imperiale

    Instead of trying to change the new workforce to follow a law firm's existing processes and procedures, perhaps it's time for firms to start changing their processes and procedures to better accommodate the mentality of this next generation of lawyers, says Christopher Imperiale, a law firm adviser with Berdon LLP.

  • Expect Continued Aggressive Enforcement Under Bharara

    Nicholas Lewis

    The beginning of 2017 brings with it significant changes to the government as a whole and the U.S. Department of Justice in particular, but one constant in this time of change is the U.S. Attorney’s Office for the Southern District of New York. Recent developments reflect a seal of approval for that office’s aggressive enforcement approach under Preet Bharara, says Nicholas Lewis of McGuireWoods LLP.

  • Pay-To-Play Lessons From This Week's SEC Settlements

    Charles Borden

    The U.S. Securities and Exchange Commission’s settlements with 10 investment advisory firms relating to violations of the SEC’s pay-to-play rule may be a preview of things to come. Although none of the 10 cases announced Tuesday involved a major penalty, the real economic cost of the violations is likely to be much higher, say attorneys with Allen & Overy LLP.

  • Art Market Tax Probes Make Domestic Freeports Appealing

    Desiree Moore

    As home to high art auction prices and hefty sales and use taxes, New York City has seen its share of art-related tax fraud. Now, as law enforcement scrutinizes tax compliance in the art world, collectors may wish to avoid New York sales taxes legally, by shipping their purchases to a domestic freeport, say Desiree Moore and Blaise Niosi of K&L Gates LLP.

  • It’s Time To Change The Law Firm Business Model

    Lucia Chiocchio

    Every year, statistics reveal very little change in the number of women and minorities in the ranks of partnership. So how do law firms change this painfully slow rate of progress? It takes more than adding a diversity policy or a women’s leadership program to the current law firm business model, says Lucia Chiocchio, co-chair of Cuddy & Feder LLP's telecommunications and land use, zoning & development groups.

  • Amended Rule 37(e): 1 Year Later

    Samantha Southall

    After a full year in effect, the amended Federal Rule of Civil Procedure 37(e) has been tested in a variety of district courts. A sampling of these decisions reveals that courts seem to be adhering closely to the amended rule and ordering adverse inference instructions only where there was intent to deprive another party of access to relevant information, say Carrie Amezcua and Samantha Southall of Buchanan Ingersoll & Rooney PC.

  • Avoiding The Hidden Costs Of Bargain-Priced E-Discovery

    Michael Cousino

    Many organizations are interested in finding electronic discovery partners who offer tantalizingly low prices for electronic discovery services. However, unforeseen gaps, lax security practices, ignorance of global practices and delayed deliverables can all add up to a surprisingly large final cost, says Michael Cousino of Epiq Systems.

  • FINRA’s Most Significant 2016 Enforcement Actions

    Jon Eisenberg

    The Financial Industry Regulatory Authority brings about 1,500 enforcement actions a year, but often lost in the volume of actions are the ones that merit particular attention. Jon Eisenberg and Michael Dyson of K&L Gates LLP review the 2016 actions that resulted in fines of $1 million or more.

  • Saving Lawyers 1 Breath At A Time: Mindfulness In The Law

    Jennifer Gibbs

    As critical as lawyers are to society, they are reported to be the most frequently depressed occupational group in the United States. In response to the inherently stressful nature of the practice of law, more and more lawyers are turning to an ancient contemplative practice called “mindfulness,” says Jennifer Gibbs of Zelle LLP.