The last week has seen AIG lodge a claim against a major European construction operation, two Hong Kong asset managers sue Noble Group, and a new suit against RBS and NatWest. Here, Law360 looks at those and other new claims in the U.K.
The U.S. Securities and Exchange Commission asked a Pennsylvania federal court on Friday for a quick win in its suit alleging two former transition management brokerage executives bilked clients with hidden costs, but the executives have mounted a rival bid to get the case thrown out as untimely.
Merrill Lynch is reviewing its policies and procedures, including a ban on commission-based individual retirement accounts, that were implemented in response to the U.S. Department of Labor’s Obama-era fiduciary rule, the company announced to its financial advisers Friday.
Players in a strife-torn, $15 billion securitized student loan enterprise on Friday recommended use of a Delaware Chancery Court special master to referee disputed instructions to the fund's owner trustee, pending selection of a replacement for current job-holder Wilmington Trust Corp.
The Federal Reserve Board signed off Thursday on a rule that puts caps on how much credit big banks can extend to one another, finalizing a proposal that has been years in the making and is aimed at reducing the risk of one firm's distress spreading throughout the financial system.
Walgreens Boots Alliance is reportedly close to taking more than 200,000 square feet of Chicago office space, a KKR joint venture is said to have dropped $250 million on a Miami office tower and developer Trammell Crow has reportedly picked up a Florida retail center for $30.1 million.
The brother of a California attorney was sentenced to 30 months behind bars Friday in Massachusetts federal court for helping two of his siblings and several others with a 2012 pump-and-dump scheme that netted at least $1.5 million.
Three law firms accused of misconduct in a $75 million fee fight have asked a Massachusetts federal judge to recuse himself over a potential conflict and “inflammatory” statements he allegedly made during a recent hearing in the ongoing battle following a class action settlement involving State Street Corp. and a pension fund, according to a motion unsealed Friday.
A Citigroup Inc. unit has agreed to pay $100 million to 41 U.S. states and the District of Columbia for manipulating its U.S. Dollar London Interbank Offered Rate submissions in order to dodge bad publicity, prosecutors said Friday.
A key Securities and Exchange Commission official said Thursday that the agency does not consider cryptocurrencies bitcoin and ether to be securities, while affirming that many digital tokens sold in fundraising schemes known as initial coin offerings are indeed securities.
H&M’s chairman brushed off rumors that the retail giant’s founders are mulling a buyout deal, Greystar Real Estate Partners lobbed a $3.1 billion offer to buy Education Realty Trust, and WeWork could reap additional funding from SoftBank that could value the company at more than $35 billion.
Wells Fargo and retirement plan participants recently argued an Employee Retirement Income Security Act case before the Eighth Circuit that could have big implications for the viability of so-called proprietary fund suits, which accuse financial services companies of favoring their own investment products for workers’ retirement portfolios over better options. Here, Law360 breaks down the oral arguments in this closely watched case and takes a look at two key questions.
The Vanguard Group Inc. urged the Third Circuit on Thursday to toss a putative class action alleging investors were overcharged commission fees, arguing the claim is barred under federal litigation reforms that limit the types of securities class actions consumers can lodge against companies.
A Tennessee federal judge on Thursday agreed to transfer a shareholder suit against rayon producer Rayonier Advanced Materials Inc. to the Middle District of Florida, ruling that the shareholder dispute over the Jacksonville, Florida-based company’s alleged failure to respond to market changes in pricing belongs in the Sunshine State.
The U.S. Securities and Exchange Commission is asking for a win in New York federal court against a former MSD Capital LP analyst convicted of insider trading in a parallel criminal proceeding, saying the guilty verdict has left him without a leg to stand on in the SEC's case.
Atlanta-based commercial flooring company Interface Inc. on Thursday said it agreed to buy nora systems GmbH, a German rubber flooring maker privately owned by British asset manager Intermediate Capital Group, in a stock-purchase deal worth roughly $420 million.
Pension funds alleging bankrupt renewable energy developer SunEdison’s former executives and directors concealed liquidity and financing problems that ultimately caused share prices to drop asked a New York federal court Wednesday for class certification.
An attorney for a global equipment financing firm that was ruled in default on a $167 million loan agreement term last year for allegedly siphoning away $4.6 million in collateral was pulled back repeatedly Wednesday to the original deal terms while arguing for a reversal by the Delaware Supreme Court.
Yahoo investors urged the Ninth Circuit on Wednesday to revive their derivative shareholder suit alleging Yahoo Inc. violated a deal with the U.S. Securities and Exchange Commission by purchasing Alibaba stock, saying merely complaining to the SEC instead of suing wouldn't work because "writing letters" doesn't get a response.
Lehman Brothers Holdings Inc. said Tuesday it had reached a settlement with Credit Suisse AG to end a long-running bankruptcy court scuffle over closeout calculations for derivatives trades following the firm’s 2008 collapse, freeing Lehman from a $1.2 billion claim and its last big bank action of that kind.
The director of the U.S. Centers for Disease Control was forced to resign earlier this year after her investment manager purchased stock in tobacco and pharmaceutical companies on her behalf, creating a conflict of interest with her official role. The incident highlights how important it is for public officials to understand the conflict of interest statute and structure their investment arrangements accordingly, say attorneys with WilmerHale.
The recent wave of spoofing and manipulation enforcement actions washing over cryptocurrency markets, aided by increasing market surveillance, may cause concern in some quarters. However, precedents in established futures and spot markets suggest that, in the long run, the market will likely see benefits from increased surveillance, say members of NERA Economic Consulting.
As different jurisdictions impose their own disclosure requirements regarding commercial litigation finance, there can be no “one size fits all” approach to ensuring confidentiality. But litigants, lawyers and litigation funders may be able to decrease disclosure risks through a handful of best practices, says Alan Guy of Vannin Capital.
State securities agencies are increasingly regulating the cryptocurrency space through administrative proceedings and summary cease-and-desist orders. But the uncertainties and ambiguities in current cryptocurrency regulation mean that multistate action — even if coordinated — will create a real risk of splintered authority, says Jason Gottlieb of Morrison Cohen LLP.
In this overview of the key considerations in credit agreements related to potential liabilities under the Employee Retirement Income Security Act, Lexis Practice Advisor expert attorney Kim Steefel discusses controlled group liability concerns as well as lender and borrower positions with respect to relevant ERISA clauses.
The current business climate has produced vast opportunities for seasoned lawyers to create valuable connections with millennial business owners, but first lawyers must cleanse their palate of misconceptions regarding millennials, says Yaima Seigley of Isaac Wiles Burkholder & Teetor LLC.
There have been a number of notable developments in the past 12 months that are relevant to the wealth management industry in Switzerland. Attorneys at Baker McKenzie discuss the common reporting standard and Swiss corporate tax reform, among other issues.
In Vellali v. Yale University, the U.S. District Court for the District of Connecticut recently granted in part and denied in part a motion to dismiss a lawsuit against Yale’s 403(b) plan fiduciaries. Arthur Marrapese of Barclay Damon LLP compares this to decisions in other similar cases, and offers insight on the future of these kinds of claims in the Second Circuit.
On May 17, 1954, the U.S. Supreme Court decided Brown v. Board of Education, recognizing a moral and legal truth that should be beyond question in American society. The refusal by some of President Donald Trump's judicial nominees to say whether they believe the case was decided correctly is indicative of the narrow-minded elitism they would bring to the bench, says professor Franita Tolson of the University of Southern California's Gould School of Law.
In deciding whether cloud computing is right for the organization or firm, an attorney must consider cloud computing’s significant impact on the electronic discovery process, say Daniel Garrie, managing partner at Law & Forensics LLC, and David Cass, chief information security officer at IBM Cloud.