Financial technology company TrueEx LLC, which has accused interest rate swap trading company MarkitServ Ltd. of having a monopoly on the processing service industry, is impeding experts’ time to analyze data by not cooperating with document requests, MarkitServ argued in New York federal court on Tuesday.
A priest suing Renco Group Inc. on behalf of children who allegedly suffered lead poisoning from a Peruvian affiliate's metallurgical complex in the Andean highlands told a Missouri federal court on Monday that it has jurisdiction because the New York company and its owner had ultimate say over the complex through Missouri companies they controlled.
The chief counsel for former Commissioner Sharon Bowen of the U.S. Commodity Futures Trading Commission will rejoin WilmerHale, bolstering its futures and derivatives practice group in Washington, D.C., the firm said Tuesday.
An investment adviser squandered a $1.7 million investment fund after moving the funds without investor knowledge, putting them in a mining project in Ghana and a struggling startup, according to a complaint filed Monday by the U.S. Securities and Exchange Commission in a California federal court.
A New York federal judge has dismissed a proposed class action by American Express Co. shareholders who say that the company hid the importance of its co-branding agreement with Costco Wholesale Corp. and wasn’t upfront about the chances it would lapse, but the investors will get a second chance.
The U.S. Securities and Exchange Commission has approved a Financial Industry Regulatory Authority proposal that broadens “pay to play” rules — which bar investment investors from soliciting government business for two years after a political contribution — to a new category of advisers known as capital-acquisition brokers.
City Office REIT has entered into the San Diego market with the acquisition of a pair of office complexes with a total of 10 buildings between them in a deal worth $174.5 million, the company said in a statement Monday.
Canadian billionaire Lawrence Stroll is reportedly hoping to get $70 million in the sale of his condo at One57, KeyBank is said to have loaned $40.8 million for a Chicago residential and retail property and Carlyle Group has reportedly sold a Miami hotel for $17.5 million.
Former Katten Muchin Rosenman LLP attorney Evan Greebel asked a New York federal court Monday to reject the U.S. government’s effort to disqualify five potential expert witnesses, saying he has shared more than enough detail about their backgrounds and planned testimony.
Citibank NA has agreed to return $1.74 billion to the Lehman Brothers estate after reaching a settlement with the defunct investment firm and its unsecured creditors several weeks into a bankruptcy court trial over the valuation of about 30,000 derivatives trades that went into default after Lehman's collapse.
A Las Vegas federal judge held two Swiss residents jointly liable Friday for $18 million, finding they headed up what the U.S. Securities and Exchange Commission has called an bogus investment scheme dubbed Malom — an acronym for “Make a Lot of Money” — that also generated criminal charges.
Lexington Realty Trust has picked up a portfolio of three industrial properties located in Tennessee and Mississippi for roughly $200 million, according to a Monday announcement from real estate investment trust.
Singapore-based Global Logistic Properties Ltd. will pay $2.8 billion to buy European logistics company IDI Gazeley from Brookfield Asset Management Inc., a deal that comes as a private-equity-backed group looks to buy out GLP.
Prosecutors told a New York federal judge on Friday that a former portfolio manager at SAC Capital who asked to withdraw his guilty plea shortly before he was to be sentenced should be denied, saying his guilt is still strongly rooted in facts and law and it would be tough to gather new evidence.
U.K. private equity shop Henley Investments has reportedly bought two New York residential buildings for $21 million, an entity managed by investment bank CSG Partners is said to have dropped $13.54 million on a Florida self-storage facility, and meeting space firm Convene has reportedly leased 58,000 square feet in New York.
A Royal Bank of Canada subsidiary and a senior executive were hit with a putative class action in New York federal court Friday, accusing them of aiding a 15-year ATM investment Ponzi scheme that defrauded investors out of $45 million, tacking on another suit to sprawling litigation against the bank over the scandal.
At least part of a tangled Delaware Chancery Court suit seeking damages for the alleged bankrupting of an affiliate of real estate investment trust mogul Nicholas S. Schorsch’s empire will continue moving toward trial, a vice chancellor and case attorneys acknowledged Friday.
An Arkansas federal judge on Friday rejected a request by retail giant Wal-Mart Stores Inc. to throw out a damages calculation method in a class action that the store said would violate the Private Securities Litigation Reform Act, saying the law didn’t rule out the prospect.
The U.S. Securities and Exchange Commission filed fraud claims on Friday against a former Long Island broker for an alleged real estate scheme that bilked investors out of $6 million after he was already banned from the industry.
A divided D.C. Circuit affirmed Friday the U.S. Securities and Exchange Commission’s finding that an investment banker who copied and pasted his boss' fraudulent email about an energy investment into a message to clients is himself liable for fraud, but not as much as the watchdog figured.
In our recent survey of business of law professionals, nearly half of respondents said that who they collaborate with, inside their law firm, is different from five years ago, says Chris Cartrett of legal software provider Aderant.
Some lawyers tend to be overly aggressive, regarding law practice as a zero-sum game in which there are only winners and losers. The best response is to act professionally — separating the matter at hand from the personalities. But it is also important to show resolve and not be vulnerable to intimidation, says Alan Hoffman of Husch Blackwell LLP.
With so many defined benefit pension plans facing funding issues, burdensome regulatory requirements, and a changing employee benefits environment, many employer plan sponsors have chosen to curtail or eliminate these employee benefit offerings. Richard McEvoy, practice leader of Mercer’s financial strategy group, addresses current de-risking strategies for these types of plans.
A Delaware court recently denied a motion to dismiss H&N Management Group v. Crouch, a shareholder derivative suit brought against an externally managed real estate investment trust alleging breach of fiduciary duties. The case is a reminder about managing conflicts of interest, among other things, say Steven Haas and David Wright of Hunton & Williams LLP.
Ben Brafman’s clients don’t need a lawyer — they need a magician. And for 40-plus years, the man has been pulling rabbits out of hats, most recently finding jurors able to sit fairly in judgment of Martin Shkreli, called “the most hated man in America.” Last month I visited Brafman to discuss his remarkable career, says Randy Maniloff of White and Williams.
New IRS guidance will allow real estate investment trusts and regulated investment companies that would like to issue 80/20 stock/cash dividends to avoid the filing fee, drafting expense and approximately six-month delay associated with obtaining a private letter ruling, say Sarah Beth Rizzo and David Polster of Skadden Arps Slate Meagher & Flom LLP.
The range of possible and better fee agreements is wide. But such alternatives will become popular only if litigants confront the psychological tendencies shaping their existing fee arrangements, says J.B. Heaton, a partner at Bartlit Beck Herman Palenchar & Scott LLP.
When it comes to the issue of Article III standing in data breach cases, the D.C. Circuit’s recent decision in Attias v. CareFirst demonstrates the analysis many appellate courts now seem to be applying, say attorneys with Sedgwick LLP.
Despite the lack of appointed commissioners until recently and the turnover of leadership, the U.S. Commodity Futures Trading Commission has announced more than 20 enforcement actions, proposed four rules and launched two new initiatives this year. The agency has been particularly active in bringing enforcement actions against individuals for fraud, misappropriation and false statements, say attorneys with Covington & Burling LLP.
The U.S. Department of Justice's nonprosecution agreement with Swiss asset management firm Prime Partners is a signal to other foreign financial institutions that the voluntary disclosure “window” remains open, says Matthew Lee of Fox Rothschild LLP.