Asset Management

  • April 10, 2017

    JPMorgan Strikes $5.7M Deal In Financial Adviser OT Suit

    JPMorgan Chase & Co. and current and former Chase financial advisers who accused the bank of stiffing them on overtime pay told a New York federal court Friday they had reached a $5.7 million deal to end a collective and class action battle.

  • April 10, 2017

    Madoff Trustee Looks To Narrow Testimony At Merkin Trial

    Looking to blunt the defenses of disgraced financier J. Ezra Merkin at an upcoming trial to claw back Bernie Madoff Ponzi scheme proceeds, the trustee for the fraudulent investment firm asked a New York bankruptcy court on Friday to bar various talking points that amount to “hearsay” testimony.

  • April 10, 2017

    BHP Billiton Rejects Activist Elliott's Pressure To Restructure

    Australian mining giant BHP Billiton Ltd. said Monday that it has reviewed a restructuring plan proposed by activist investor Elliott Management Corp. and determined it would be too costly and too risky to undertake.

  • April 10, 2017

    Wells Fargo Sanctioned Over Discovery in Film Funding Suit

    A Florida federal judge on Friday granted an investment company's requests for sanctions and a partial judgment against Wells Fargo after finding abuses in the discovery process in a suit alleging the bank made a fraudulent scheme for film financing seem legitimate.

  • April 10, 2017

    Brokers Seek Early Showdown With SEC On 'Layering'

    Lek Securities Corp. and a client network that allegedly made $28 million by “layering” phony trades to mimic market forces fought Friday to thwart an asset freeze, going to the heart of the U.S. Securities and Exchange Commission's case to insist the conduct is not illegal.

  • April 10, 2017

    AXA Buys London Property From Legal & General For $70M

    AXA Investment Managers-Real Assets has purchased a London office building at the Kensington Village office campus from Legal & General for £56.6 million ($70.3 million), according to an announcement from the companies on Monday.

  • April 10, 2017

    Judge Prods Euribor Class Action Parties On Discovery

    A New York federal judge Monday told attorneys in a proposed putative class action by investors alleging J.P. Morgan and Citigroup conspired to manipulate Euribor that there was a “big hole in the donut” that is their proposed schedule, namely any indication when discovery will be completed.

  • April 10, 2017

    MF Global Insurers Say Coverage Fight Belongs In Bermuda

    A quartet of Bermuda insurance companies Friday told a New York bankruptcy court that their dispute with MF Global over providing payment to satisfy a global settlement belongs in arbitration in Bermuda, while MF Global argued the insurers need to post a $60 million bond to proceed.

  • April 10, 2017

    5 Cos. Expand IPO Pipeline With New Filings Exceeding $400M

    A real estate investment trust, homebuilder, two biotech companies and a bank have filed for initial public offerings since Thursday, bolstering a rapidly growing IPO pipeline, with preliminary fundraising targets that are expected to surpass $400 million.

  • April 10, 2017

    SEC's ALJ Stance 'Blinks Reality,' Adviser Tells DC Circ.

    An investment adviser challenging the constitutionality of the U.S. Securities and Exchange Commission’s in-house court told the D.C. Circuit on Monday that the agency’s interpretation of federal law “simply blinks reality,” as the appellate court reconsiders its opinion that found the in-house judges are constitutionally sound.

  • April 10, 2017

    China Securities Watchdog Vows To Fight Fraud, Stinginess

    China’s chief securities regulator on Saturday vowed to crack down on public companies that violate stock market rules and blasted companies that fail to pay their shareholders dividends despite having the means to do so, according to China’s state-run news agency.

  • April 10, 2017

    Mayer Brown Steers KTB's $101M NYC Loan To Chetrit

    Mayer Brown LLP represented a KTB Asset Management Co. Ltd. debt fund in connection with its $101 million loan to a Chetrit Group entity for a pair of New York City Public Schools properties on Trinity Place in Manhattan, according to records made public Friday in New York.

  • April 10, 2017

    Ex-GC Of Defunct Trading Co. Fights Malpractice Claims

    An attorney for a now-defunct online stock trading company moved to dodge legal malpractice claims on Friday in a suit alleging several individuals associated with the company essentially used it as a personal bank account, saying he never shirked his duties and never arranged for his son to get a loan with company funds.

  • April 10, 2017

    Morgan Stanley Venture Selling China Mall For $588M

    Link Real Estate Investment Trust said Friday it is buying a retail property in China with a senior care component for nearly 4.06 billion renminbi ($588 million), from a venture of Morgan Stanley real estate funds and Gaw Capital Partners.

  • April 7, 2017

    Trader Pushes To Confirm $20M Award On ‘Worthless’ Stock

    BTIG LLC urged a California federal judge Friday to confirm a $20 million arbitration award won against a finance consulting firm and others who allegedly tricked the stock trading company into holding the bag on $18 million in stock that would quickly become worthless.

  • April 7, 2017

    Shkreli, Ex-Katten Atty Warn Of Joint Trial Disarray

    Attorneys for former Turing Pharmaceuticals Inc. boss Martin Shkreli and his onetime Katten Muchin Rosenman LLP lawyer on Friday urged a Brooklyn federal judge to order separate trials in their securities fraud case, saying their defenses are directly opposed to each other.

  • April 7, 2017

    Court Orders $1.7M Disgorgement For Binary Options Scheme

    A Florida federal court has granted the U.S. Commodity Futures Trading Commission’s motion for judgment against two firms owned by an investment firm owner who settled allegations he ripped off investors in a foreign off-exchange commodity options trading scheme, ordering the firms to pay more than $1.7 million, the CFTC said Thursday.

  • April 7, 2017

    Shearman & Sterling Welcomes Back Ex-SEC Chief Of Staff

    A former chief of staff at the U.S. Securities and Exchange Commission has returned to Shearman & Sterling LLP’s New York office as a partner, bolstering the firm’s capital markets and corporate governance practices with financial regulatory experience from the public side.

  • April 7, 2017

    Investors Sue Over $4.5M Lost In ‘Hamilton’ Tix Ponzi Scheme

    A group of investors who say they lost $4.5 million in a Ponzi scheme that purported to profit by reselling tickets to see Broadway shows like “Hamilton” and musicians like Adele sued the alleged fraudsters in Manhattan federal court on Friday in a bid to get their money back.

  • April 7, 2017

    8th Circ.'s 401(k) Ruling Creates 'Legal Haze,' ABB Says

    ABB Inc. pushed the Eighth Circuit on Thursday to clarify how a lower court should calculate losses in a suit alleging ABB changed retirement plans for its own benefit, saying the lack of direction in its opinion is creating a “legal haze” that could land the case in the appellate court for the third time.

Expert Analysis

  • Issues To Expect In A Title III Puerto Rico Restructuring

    Luke A. Barefoot

    One of the issues that will perhaps most affect the treatment and negotiating leverage of various creditors in Puerto Rico's ensuing Title III process is the determination of the type of security interest and collateral by which their bonds are secured, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Compliance Tips For Robo-Advisers As They Take Spotlight

    Ethan L. Silver

    There are a variety of means for a robo-adviser to meet its obligations to clients under the Investment Advisers Act, as the U.S. Securities and Exchange Commission recently recognized. While every robo-adviser is different, high-risk areas tend to converge, say Ethan Silver and Scott Moss of Lowenstein Sandler LLP.

  • Data Analytics Now Cost-Effective For Smaller Firms

    Chris Paskach

    A recent survey found that nearly two-thirds of Am Law 200 firms are now using data analytics, compared to only about a tenth of regional and boutique firms. Yet the exploding market for data analytics technology in business is making these productivity tools available for any size matter or firm, say Christopher Paskach of The Claro Group and Douglas Johnston Jr. of Five Management LLC.

  • Using The SAFETY Act To Comply With NY Cyber Rules


    There is a way for banks, investment firms and insurers to reduce the chance that their risk assessment will be deemed "inadequate" under New York's new cybersecurity regulations — by having their policies and procedures vetted through the U.S. Department of Homeland Security's SAFETY Act, says Brian Finch of Pillsbury Winthrop Shaw Pittman LLP.

  • Don’t Underestimate The Value Of An Internal Audit

    Justin Gwin

    Most legal and business leaders know that internal culture — including tone, operating style, standard of behavior and shared values that guide employee decisions — can make or break a firm. An internal audit can assess a firm's culture and identify potential issues within the organization, says Justin Gwin of Kaufman Rossin PA.

  • New Business Opportunities In Shared Workspaces

    Philippe Houdard

    For decades, law firms have taken on considerable expense to acquire or rent opulent office space, often with the intention of signaling seriousness and reliability to their clients. But more recently, solo practitioners and established firms alike have started breaking tradition, says Philippe Houdard, co-founder of Pipeline Workspaces.

  • Why Puerto Rico Will Likely Rely On PROMESA Title III

    Richard J. Cooper

    Both the Puerto Rico oversight board and the new commonwealth administration have expressed a strong preference for restructuring the commonwealth’s debt through the use of Title VI of the Puerto Rico Oversight, Management and Economic Stability Act. However, Title VI is unlikely to provide a realistic path to restructure tax-supported debt, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • How 401(k) Benefits Can Attract Millennial Legal Talent

    Nathan Fisher

    If today’s law firms are willing to rethink their perceptions of millennials, they may see greater success in attracting and retaining new talent by giving the younger generation the kind of retirement planning benefits they want and need, says Nathan Fisher of Fisher Investments.

  • How The Courts Review Executive Orders

    Steven D. Gordon

    The cases challenging President Donald Trump’s executive orders fit within the established legal framework that limits, but does not preclude, judicial review of such orders, says Steven Gordon of Holland & Knight LLP.

  • NY High Court Expands Protections For Financial Traders

    David Parker

    The New York high court’s decision in Stonehill Capital Management v. Bank of the West clarifies the extent to which an agreement to buy or sell a financial instrument for which additional written documentation is expected may be enforceable. The decision should give comfort to participants in markets where trading via telephone or other informal means is common, say David Parker and Joshua Bromberg of Kleinberg Kaplan Wolff & Cohen PC.