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Asset Management

  • March 5, 2015

    Self Storage REITs Snap Up $145M Property Portfolio

    Significantly expanding its reach in several new markets, two of SmartStop Self Storage’s real estate investment trust affiliates have picked up a $145 million property portfolio from DSI Properties Inc, according to a Wednesday announcement.

  • March 5, 2015

    Real Estate Rumor Mill: Macerich, AEG, Daimler

    Simon Property Group Inc. reportedly wants to take over rival Macerich Co., a retail-focused real estate investment trust valued at about $13 billion, while Anschutz Entertainment Group is said to be planning a $500 million L.A. Live hotel expansion and Daimler AG reportedly chose South Carolina for a new auto plant.

  • March 5, 2015

    Ex-SAC Trader, Feds Want 2nd Circ. To Nix $1.3M Judgment

    U.S. prosecutors and attorneys for former SAC Capital Advisors LP manager Donald Longueuil have asked the Second Circuit to vacate a nearly $1.3 million forfeiture judgment entered in 2011, saying Longueuil likely paid too much in light of a 2012 appeals court ruling.

  • March 5, 2015

    Clifford Chance, Latham Guide Apollo’s $170M Stock Sale

    With plans to repay some of its outstanding debt and possibly make some new acquisitions, Apollo Commercial Real Estate Finance Inc., guided by Clifford Chance LLP, on Thursday launched an approximately $170 million stock offering underwritten by banks represented by Latham & Watkins LLP.

  • March 4, 2015

    Pomerantz Nabs Lead In Petrobras Securities Class Row

    Pomerantz LLP will take the helm on a consolidated group of securities class actions over revelations of rampant corruption at Petroleo Brasileiro SA, working as lead counsel together with lead plaintiff Universities Superannuation Scheme Ltd., according to a short order issued Wednesday by U.S. District Judge Jed S. Rakoff.

  • March 4, 2015

    Bernstein Litowitz, Entwistle To Lead Cobalt Shareholder Suit

    A Texas federal judge on Tuesday appointed Bernstein Litowitz Berger & Grossmann LLP and Entwistle & Cappucci LLP as co-lead counsel in a proposed class action alleging Cobalt International Energy Inc. bribed a foreign government and made misleading statements to stock and bond investors, leading to billions in losses.

  • March 4, 2015

    'Deceitful' NY Broker Ordered To Pay $3.8M For Ponzi Scheme

    A New York broker-dealer who pled guilty to running a Ponzi scheme to finance his real estate investments was ordered to pay his alleged victims $3.8 million in restitution in federal court Tuesday.

  • March 4, 2015

    Caesars Can't Scratch Noteholder Committee, Judge Rules

    An Illinois bankruptcy judge on Wednesday refused to dissolve a committee of junior bondholders that is spearheading opposition to Caesars Entertainment Operating Co.’s restructuring, paying no heed to the embattled gaming company’s claim that the committee is “wasteful and unnecessary.”

  • March 4, 2015

    Real Estate Rumor Mill: Willis Tower, Google, Essex

    Willis Tower is reportedly for sale and may already have a buyer, while Google is said to have paid WebMD to move out of a New York space and REIT Essex Property Trust has reportedly paid $67 million for a Northern California apartment development site.

  • March 4, 2015

    LightSquared Judge Says No More Delays To Ch. 11 Trial

    LightSquared Inc. is heading toward another contested trial on a strategy to emerge from bankruptcy protection, but lawyers for its fiercest opponent and largest single creditor, Dish Network Corp. Chairman Charlie Ergen, said they would seek yet more delay to appeal an unfavorable ruling.

  • March 4, 2015

    Investment Co. Sues Former Member For Wrecking Steel Deal

    A bitter fight between two close friends shredded a deal to take a Serbian-owned steel company private when an iron ore supplier acted as a double agent in dealing with the government to make sure his own companies reaped profits, according to a suit filed Wednesday in Pennsylvania federal court.

  • March 4, 2015

    SEC Small Biz Group Warns On Accredited Investor Rewrite

    An advisory committee to the U.S. Securities and Exchange Commission on issues affecting small public companies urged the agency on Wednesday not to tinker too much with the definition of an accredited investor, lest it squeeze out older individuals, women and minority entrepreneurs from the private securities market.

  • March 4, 2015

    Deals Rumor Mill: ZF, Hellman & Friedman, Qatar Airways

    ZF Friedrichshafen AG's $13.5 billion acquisition of U.S. rival TRW Automotive Holdings Corp. is likely to be approved by the European Union, while Hellman & Friedman and Fortress Investment Group are planning to offer up to $2.6 billion to buy Istituto Centrale delle Banche Popolari Italiane SpA.

  • March 4, 2015

    SEC Fines Texas Brokerage Firm for Supervisory Failures

    The U.S. Securities and Exchange Commission on Wednesday reached a $225,000 settlement with an Irving, Texas-based brokerage firm over allegations that the company failed to properly supervise outside representatives of the firm who misappropriated customer funds, but also granted the firm a conditional waiver to continue selling private securities.

  • March 4, 2015

    UK Unloads Eurostar Cross-Channel Rail Stake In $1.16B Deal

    The U.K. government announced Wednesday that it has agreed to sell its 40 percent stake in the Eurostar International Ltd. railway connecting Britain with France and Belgium in a £757.1 million ($1.16 billion) deal with a consortium made up of Caisse de depot et placement du Quebec and Hermes Infrastructure.

  • March 4, 2015

    Madoff Investors Win Class Cert. In Suit Against PwC, Citco

    A New York federal judge on Tuesday again certified a class of investors accusing PriceWaterhouseCoopers LLP and Citco Group Ltd. of misleading them about the quality of feeder funds involved in Bernie Madoff’s Ponzi scheme after the Second Circuit vacated his previous decision in 2014.

  • March 4, 2015

    Starboard Continues To Push For Board Changes At Staples

    Activist investor Starboard Value LP said on Wednesday that it is pleased by Staples Inc.'s decision to buy rival office supply chain Office Depot Inc., but still thinks the company would benefit from changes to its board of directors.

  • March 4, 2015

    FSB Jumps Forward On Boundaries For SIFI Asset Managers

    The Financial Stability Board on Wednesday released a second round of research in its effort to delineate systemically important financial institutions beyond the bank and insurer categories.

  • March 4, 2015

    Temenos Pays Summit Partners $260M For Multifonds

    Temenos Group AG has agreed to buy fund administration software provider Multifonds from private equity firm Summit Partners for €235 million ($260.23 million), the companies said Wednesday, in a deal designed to bolster the Swiss banking software maker's scale and product offerings.

  • March 4, 2015

    Bob Evans Won't Spin Off Foods Biz Despite Activist Pressure

    Bob Evans Farms Inc. said that it will not pursue a spinoff of its packaged foods business refusing to cave to activist investor pressure from Sandell Asset Management Corp., which has been pushing the company for a split, saying it would unlock value for shareholders.