Lucid Motors, working with legal adviser O'Melveny and Myers LLP, has inked an agreement under which the California-based electric-car company will receive $1 billion from the public investment arm of the government of Saudi Arabia, according to a Monday statement.
Archit Shah earned a degree in computer science and engineering from the Massachusetts Institute of Technology without any idea that he’d later apply to and graduate from Harvard Law School. Now, he draws on both degrees as the general counsel of financial services company Robinhood Markets Inc. Here, Shah explains how he came to realize he wanted to study law and the characteristics he looks for in potential in-house candidates.
A New Jersey federal judge has refused to toss claims in a hedge fund group's lawsuit accusing Valeant Pharmaceuticals International Inc. of duping investors about the sustainability of its business model, ruling on Friday that the claim wasn't filed too late under federal securities law.
Investcorp on Monday said it paid roughly $300 million for its largest-ever acquisition of a U.S. warehouse portfolio that includes properties in Texas, Pennsylvania, Delaware and Illinois, the ninth deal of its kind for the investment manager in the past three years.
A Ninth Circuit panel on Friday agreed with the district court’s dismissal of Northstar Financial Advisors Inc.’s putative class action against Charles Schwab Corp. but said that Northstar should have another crack at amending its complaint claiming Schwab stepped outside of its own guidelines to make risky bond-fund bets.
It didn’t take long for Schlichter Bogard & Denton founder Jerry Schlichter’s wave of suits over allegedly excessive fees charged by 401(k) plans to permanently alter the legal landscape, yielding a $62 million settlement and a U.S. Supreme Court ruling. Here, Schlichter talks to Law360 about how his suits against universities came about and where he hopes they’re headed.
An Indiana federal judge on Friday said a group of participants in a 401(k) plan affiliated with Anthem Inc. can proceed as a class with claims that the plan’s administrators made a faulty investment in a money market fund that caused substantial losses, but she rejected a second proposed class.
A Colorado federal judge denied a bid for class certification in a suit brought by a participant in a 401(k) retirement plan that Great-West Life & Annuity Insurance Co. provides services for over revenue sharing payments.
The last week has seen Denmark's tax authority file another fraud suit against more investment firms, insurance giants like Amlin and Axa sue a seafood distributor, and a bid to appeal a decision from former shareholders of a business in RBS' controversial restructuring unit. Here, Law360 looks at those and other new claims in the U.K.
Directors and investors in hedge fund Weston Capital Advisors Inc. filed a petition in Delaware Chancery Court late Thursday seeking a declaration that they are the true and proper members of the company’s board in light of a series of allegedly fraudulent corporate filings made with state regulators.
A Citigroup Inc. unit has agreed to pay more than $12 million to settle claims by the U.S. Securities and Exchange Commission that it misled institutional investors about high-frequency trading activity in a dark pool run by an affiliate, the agency said Friday.
A New York federal judge granted certification to a class of investors who allege Och-Ziff Capital Management Group LLC misled them about a Foreign Corrupt Practices Act investigation into the hedge fund's multimillion-dollar transactions in Africa.
In this week’s Taxation with Representation, Renesas Electronics bought Integrated Device Technology Inc. for $6.7 billion, the Carlyle Group snapped up Sedgwick Claims Management Services for $6.7 billion, a consortium of buyers took over MPM Holdings, and Science Applications International Corp. acquired Engility Holdings for $2.5 billion.
A Manhattan federal judge ruled Thursday that a pair of sports management businessmen were on the hook for some $26 million after their companies defaulted on a high-interest loan, saying their requests for more discovery seemed like “a cynical effort to buy time.”
A group of trust beneficiaries accusing Bank of New York Mellon NA of charging excessive and undisclosed fees on tax returns was granted class certification by a Massachusetts federal judge Friday, who also kept on the lead plaintiff despite a history of disagreements between her and lead class counsel.
A New Jersey federal judge trimmed state law claims from a suit by three investment funds accusing Valeant Pharmaceuticals International Inc. and others of fraud and price-gouging, ruling Friday that the claims are preempted by federal securities law.
Ares Management LP is selling its stake in an under-construction hotel and convention center in Aurora, Colorado, to Ryman Hospitality Properties Inc. and RIDA Development Corp. for roughly $270 million, Ares announced Friday.
Ten years ago, Lehman Brothers filed the largest bankruptcy in history, an event that accelerated the global financial crisis and inspired a new regime of banking regulation. Judge James Peck spoke with Law360 about the gravity of Lehman's historic filing and how his prior work helped him steward the case. This is the first in a three-part series looking back at Lehman's collapse.
Puerto Rico’s creditors and its financial oversight board clashed Thursday over the proposed $4.1 billion restructuring of the island’s Government Development Bank, with creditors deriding it as a “home-baked bankruptcy” that would shield corrupt bankers from scrutiny even as the bank’s own creditors overwhelmingly approved the deal.
Emory University workers accusing the school of mismanaging their retirement savings won certification for a class of up to 45,000 participants Thursday after a Georgia federal judge found that those leading the suit had standing for their claims and could adequately represent the class.
Earlier this year, the U.S. Supreme Court ruled unanimously in China Agritech v. Resh that statutes of limitations cannot be tolled for subsequent class actions. Here, members of the O'Melveny & Myers LLP team that defended China Agritech describe how an otherwise routine securities case turned into a far-reaching check on serial class actions.
The indictment earlier this month of U.S. Rep. Christopher Collins, R-N.Y., on insider trading charges is the latest in a series of prosecutions that demonstrate the Southern District of New York's growing effort to hold accountable those who take advantage of their influence for improper gain, say attorneys with Arnold & Porter.
While most law firm executives and partners may instinctively want to tune out terms like "high availability" and "disaster recovery" — concepts that IT managers usually worry about — there are five reasons you should lean in and wrestle with the vocabulary, say Jeff Norris of Managed Technology Services LLC and Greg Inge of information security consulting firm CQR.
The "fake news" phenomenon is ever more prominent in the political arena — but not in the jury box. At a trial, jurors don’t have to rely on the media or any other source to tell them the facts and issues, since they have a front-row seat to the action, says Ross Laguzza, a consultant at R&D Strategic Solutions LLC.
The national securities exchanges are now profit-seeking commercial enterprises, but they continue to argue that they are absolutely immune from suits arising from a wide range of competitive activity. Courts, however, are rejecting these arguments, and it is likely that the U.S. Securities and Exchange Commission will address the matter soon, say attorneys with Foley & Lardner LLP.
In his new book, "The Last Great Colonial Lawyer: The Life and Legacy of Jeremiah Gridley," Charles McKirdy argues that Gridley — someone I had never heard of — was the last great colonial lawyer, and that his cases illuminate his times. The author largely substantiates both claims, says First Circuit Judge Kermit Lipez.
The newly enacted Foreign Investment Risk Review Modernization Act significantly expands the authority of the U.S. government to review and restrict foreign investments on national security grounds. But FIRRMA also has provisions that may exempt some transactions from review, and accelerate review of others, say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.
Earlier this month, the IRS finally released proposed regulations under the bonus depreciation provisions of the Tax Cuts and Jobs Act. The guidance provides long-awaited clarification on the availability of 100 percent bonus depreciation to partnership basis adjustments, say attorneys at O'Melveny & Myers LLP.
The Foreign Investment Risk Review Modernization Act empowers the U.S. government to review a far broader group of transactions than ever before to determine if they threaten national security. FIRRMA's expansive new coverage includes oversight of real estate investments and transfers of "emerging and foundational technologies," say Jeffrey Bialos and Mark Herlach of Eversheds Sutherland LLP.
The U.S. Securities and Exchange Commission last month approved rule changes that would impose extensive new transparency requirements on alternative trading systems that effect transactions in National Market System stocks. Julian Rainero and William Barbera of Schulte Roth & Zabel LLP break down the new disclosure requirements and highlight areas that may prove particularly burdensome.